Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED BALANCE SHEETS - USD ($)
Mar. 31, 2018
Mar. 31, 2017
Current assets    
Cash and cash equivalents $ 988,905 $ 603,805
Accounts receivable 2,599,095 1,419,281
Inventory 1,002,020 819,988
Prepaid expenses 296,471 307,247
Total current assets 4,886,491 3,150,321
Fixed assets - net 1,169,635 1,120,148
Total assets 6,056,126 4,270,469
Current liabilities    
Accounts payable 2,052,988 1,343,824
Accrued expenses 819,011 455,916
Revolving financing 2,592,015 1,436,083
Loans payable 131,583 0
Current portion of capital leases 0 190,207
Derivative liability 288 3,407
Total current liabilities 5,595,885 3,429,437
Long-term Liabilities    
Capitalized leases 0 8,006
Total long-term liabilities 0 8,006
Total liabilities 5,595,885 3,437,443
Stockholders' equity    
Preferred stock, $0.001 par value, 100,000,000 shares authorized, Series C issued 1,500,000 and Series D issued 3,800,000 at March 31, 2018 and Series A issued 20,000,000 Series C issued 3,000,000 at March 31, 2017 5,300 23,000
Common stock, Class A - $0.001 par value, 200,000,000 shares authorized 25,991,346 and 17,532,451shares issued and outstanding at March 31, 2018 and March 31, 2017, respectively 25,990 17,531
Additional paid in capital 30,506,265 24,181,029
Accumulated deficit (30,077,314) (23,388,534)
Total stockholders' equity 460,241 833,026
Total liabilities and stockholders' equity $ 6,056,126 $ 4,270,469