XML 47 R4.htm IDEA: XBRL DOCUMENT v2.4.0.8
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (USD $)
3 Months Ended 6 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Sep. 30, 2014
Sep. 30, 2013
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS        
Net sales $ 4,570,711 $ 5,195,795 $ 10,801,052 $ 12,292,487
Cost of sales 3,702,996 4,468,523 9,715,097 11,144,972
Gross profit 867,715 727,272 1,085,955 1,147,515
Selling, general and administrative 1,210,136 1,484,487 2,538,909 3,254,569
Loss from operations (342,421) (757,215) (1,452,954) (2,107,054)
Other (expense) income (1,211) 6,985 (1,158) (567)
Interest expense (includes OCI reclassifications for cash flow hedges of ($219,359) and ($248,464) in 2014) (458,005) (67,646) (618,594) (137,773)
Interest income 75 (794) 75 2,819
Total other expense, net (459,141) (61,455) (619,677) (135,521)
Loss before income taxes (801,562) (818,670) (2,072,631) (2,242,575)
Income tax benefit (related to OCI reclassification) (152,792)   (152,792)  
Net loss (648,770) (818,670) (1,919,839) (2,242,575)
Other comprehensive (loss) income, before tax:        
Change in unrealized loss on cash flow hedges   (7,476) (16,680) (117,813)
Reclassification adjustment for cash flow hedges 219,359   248,464  
Foreign currency translation adjustments 17 (184) 47 (2,396)
Other comprehensive (loss) income, before tax 219,376 (7,660) 231,831 (120,209)
Tax expense from reclassification adjustment 152,792   152,792  
Other comprehensive income (loss), net of tax 66,584 (7,660) 79,039 (120,209)
Comprehensive loss $ (582,186) $ (826,330) $ (1,840,800) $ (2,362,784)
Net loss per share (basic) (in dollars per share) $ (0.03) $ (0.04) $ (0.08) $ (0.11)
Net loss per share (diluted) (in dollars per share) $ (0.03) $ (0.04) $ (0.08) $ (0.11)
Weighted average number of shares outstanding (basic) (in shares) 24,669,958 19,956,871 24,336,018 19,956,871
Weighted average number of shares outstanding (diluted) (in shares) 24,669,958 19,956,871 24,336,018 19,956,871