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CONSOLIDATED BALANCE SHEETS - USD ($)
Mar. 31, 2016
Mar. 31, 2015
CURRENT ASSETS    
Cash $ 11,512,179 $ 7,464,180
Accounts receivable (net of allowance for doubtful accounts of $— and $272,620 respectively) 1,530,296 1,446,441
Inventories 3,293,729 3,032,002
Prepaid expenses and other current assets 377,752 388,061
Total Current Assets 16,713,956 12,330,684
PROPERTY AND EQUIPMENT, net of accumulated depreciation of $6,726,401 and $6,074,117, respectively 8,110,721 6,401,802
INTANGIBLE ASSETS 6,411,799 6,381,774
OTHER ASSETS    
Security deposits 48,714 198,481
Restricted cash - debt service for EDA bonds 388,959 388,959
EDA bond offering costs, net of accumulated amortization of $150,052 and $135,874, respectively 204,401 218,579
Total Other Assets 642,074 806,019
TOTAL ASSETS 31,878,550 25,920,279
CURRENT LIABILITIES    
Current portion of EDA bonds payable 220,000 210,000
Short term loans 34,681 0
Current portion of long-term debt 308,263 265,165
Related Party Lines of Credit 718,309 583,071
Accounts payable 1,804,429 3,383,533
Accrued expenses 555,352 613,995
Deferred revenues - current 1,013,333 13,333
Total Current Liabilities 4,654,367 5,069,097
LONG TERM LIABILITIES    
EDA Bonds Payable - Non Current 1,845,000 2,065,000
Deferred revenues 3,278,887 125,557
Other long term liabilities 568,251 629,138
Derivative liability - warrants 10,368,567 17,762,573
Total Long Term Liabilities 16,060,705 20,582,268
TOTAL LIABILITIES 20,715,072 25,651,365
MEZZANINE EQUITY    
Convertible preferred shares 44,285,715 35,000,000
STOCKHOLDERS' DEFICIT    
Common stock - par value $0.001, Authorized 995,000,000 and 690,000,000 shares, respectively. Issued 711,544,352 shares and 631,160,701 shares, respectively. Outstanding 711,444,352 shares and 631,060,701 shares, respectively. 711,546 631,162
Additional paid-in-capital 109,137,805 106,926,328
Accumulated deficit (142,664,747) (141,981,735)
Treasury stock at cost (100,000 common shares) (306,841) (306,841)
TOTAL STOCKHOLDERS’ DEFICIT (33,122,237) (34,731,086)
TOTAL LIABILITIES AND STOCKHOLDERS’ DEFICIT $ 31,878,550 $ 25,920,279