Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS

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CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS - USD ($)
 3 Months Ended 9 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2015
Dec. 31, 2014
Revenue $ 1,777,701 $ 857,835 $ 5,010,547 $ 2,452,707
Cost of Goods Sold 1,152,514 588,568 3,234,840 1,643,511
Gross Profit 625,187 269,267 1,775,707 809,196
Operating expenses        
Sales and marketing expenses 703,942 420,996 2,098,678 1,063,749
General and administrative 739,690 562,159 2,628,152 4,984,996
Depreciation 72,204 49,733 214,333 107,801
Total operating expenses 1,515,836 1,032,888 4,941,163 6,156,546
Total operating loss (890,649) (763,621) (3,165,456) (5,347,350)
Other income (expense)        
Interest income 14 11 24 11
Interest expense (21,303) 1,633 (36,303) (10,693)
Interest expense - accretive (13,332) 0 (13,332) 0
Interest expense on capital lease (49,255) 0 (153,121) 0
Interest expense on redeemable preferred stock 0 0 0 (40,383)
Fees paid on credit line (15,222) (12,223) (40,121) (30,765)
Capital lease discount 0 (14,294) 0 (14,294)
Amortization of debt discount and accretion (195,000) 0 (283,083) (414,370)
Other expenses 0 (282) 0 (287)
Change in derivative liability 90,026 22,466 47,364 377,552
Total other income (expense) (204,072) (2,689) (478,572) (133,229)
Net loss $ (1,094,721) $ (766,310) $ (3,644,028) $ (5,480,579)
EARNINGS PER SHARE (Basic) $ (0.36) $ (0.32) $ (1.29) $ (2.56)
WEIGHTED AVERAGE SHARES OUTSTANDING (Basic) 3,006,148 2,387,219 2,831,761 2,140,899