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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
3 Months Ended 6 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Sep. 30, 2014
Sep. 30, 2013
Net sales $ 2,223,943 $ 3,195,611 $ 4,738,328 $ 6,201,280
Cost of goods sold - acquired from Joint Venture 1,601,148 1,974,681 3,312,147 4,132,093
Cost of goods sold - other 129,279 411,775 321,177 510,708
GROSS PROFIT 493,516 809,155 1,105,004 1,558,479
Research and development expense 259,982 94,508 421,946 221,144
Selling, general and administrative expense 1,119,244 1,031,746 2,306,735 2,121,490
Operating loss (885,710) (317,099) (1,623,677) (784,155)
Other income :        
Interest income and other 9,348 5,403 16,993 11,822
LOSS BEFORE EQUITY IN EARNINGS OF JOINT VENTURE (876,362) (311,696) (1,606,684) (772,333)
Equity in (loss) earnings of Joint Venture (235,902) 232,379 (248,429) 504,420
Loss from operations before income taxes (1,112,264) (79,317) (1,855,113) (267,913)
Provision for income tax expense 0 2,479,901 0 2,310,835
NET LOSS $ (1,112,264) $ (2,559,218) $ (1,855,113) $ (2,578,748)
Loss per share:        
Basic (in dollars per share) $ (0.48) $ (1.12) $ (0.80) $ (1.13)
Diluted (in dollars per share) $ (0.48) $ (1.12) $ (0.80) $ (1.13)
Shares used in computing net loss per share:        
Basic (in shares) 2,312,887 2,287,887 2,312,887 2,287,887
Diluted (in shares) 2,312,887 2,287,887 2,312,887 2,287,887