Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED BALANCE SHEETS - USD ($)
Mar. 31, 2020
Mar. 31, 2019
Current assets    
Cash $ 4,561,682 $ 11,032,451
Accounts receivable 4,917,081 3,068,181
Inventory 2,919,860 2,058,012
Prepaid expenses 1,697,199 378,699
Operating lease right-of-use asset 87,393  
Total current assets 14,183,215 16,537,343
Fixed assets - net 1,422,581 1,945,265
Total assets 15,605,796 18,482,608
Current liabilities    
Accounts payable 5,406,541 2,898,958
Accrued expenses 1,186,516 1,095,458
Revolving financing 7,291,217 3,131,279
Operating lease liability 99,389  
Total current liabilities 13,983,663 7,125,695
Stockholders' equity    
Preferred stock, $0.001 par value, 100,000,000 shares authorized, 3,400,000 Series D issued and outstanding on March 31, 2020 and 1,500,000 Series C and 3,800,000 Series D issued and outstanding at March 31, 2019 3,400 5,300
Common stock, Class A - $0.001 par value, 200,000,000 shares authorized 45,585,592 and 39,573,512 shares issued and outstanding at March 31, 2020 and March 31, 2019, respectively 45,585 39,573
Additional paid in capital 54,094,848 50,006,919
Stock Payable 1,000,000  
Accumulated deficit (53,521,700) (38,694,879)
Total stockholders' equity 1,622,133 11,356,913
Total liabilities and stockholders' equity $ 15,605,796 $ 18,482,608