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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
Sep. 30, 2015
Mar. 31, 2015
Current assets:    
Cash and cash equivalents $ 1,644,613 $ 1,336,325
Accounts receivable, less allowance for doubtful accounts of $25,010 at September 30, 2015 and March 31, 2015 818,448 826,363
Costs incurred on uncompleted contracts, in excess of progress billings 1,474,037 2,008,244
Inventories- raw materials 150,633 134,812
Current deferred taxes 826,697 826,697
Other current assets 420,266 538,253
Total current assets 5,334,694 5,670,694
Property, plant and equipment, net 5,232,921 5,610,041
Other noncurrent assets, net 16,210 45,490
Total assets 10,583,825 11,326,225
Current liabilities:    
Accounts payable 806,800 1,526,123
Trade notes payable 11,173 138,237
Accrued expenses 1,755,386 1,665,658
Advanced claims payment 507,835  
Deferred revenues 683,838 1,211,506
Short-term debt 2,250,000 2,250,000
Current portion of long-term debt 933,998 933,651
Total current liabilities 6,949,030 7,725,175
Long-term debt, including capital lease 2,018,771 2,485,858
Noncurrent deferred taxes $ 826,697 $ 826,697
Commitments and contingent liabilities (see Note 16)
Stockholders' Equity:    
Preferred stock - par value $.0001 per share, 10,000,000 shares authorized, of which 9,890,980 are designated as Series A Preferred Stock, with 0 and 1,927,508 shares issued and outstanding at September 30, 2015 and March 31, 2015, respectively (liquidation preference: $0 - September 30, 2015; $549,340 - March 31, 2015)   $ 524,210
Common stock - par value $.0001 per share, 90,000,000 shares authorized, 27,324,593 and 24,669,958 shares issued and outstanding at September 30, 2015 and at March 31, 2015, respectively $ 2,719 2,467
Additional paid in capital 7,052,774 6,487,589
Accumulated other comprehensive income 22,209 23,561
Accumulated deficit (6,288,375) (6,749,332)
Total stockholders' equity 789,327 288,495
Total liabilities and stockholders' equity $ 10,583,825 $ 11,326,225