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DEBT (Tables)
 9 Months Ended
Dec. 31, 2016
DEBT  
Schedule of outstanding debt obligations

 

 

December 31,
2016

 

March 31,
2016

 

Commerce Term Loan due January 2022

 

$
2,850,000 

 

$

—

 

People’s Equipment Loan Facility due April 2021

 
3,031,046 

 

—

 

Utica Credit Loan Note due November 2018

 

—

 
2,459,259 

 

Revere Term Loan and Notes due January 2018

 

—

 
2,250,000 

 

Obligations under capital lease

 
17,567 

 
26,599 

 

 

 

 

 

 

 

Total debt

 

$
5,898,613 

 

$
4,735,858 

 

 

 

 

 

 

 

 

 

Less: Debt issue costs, unamortized

 

$
160,500 

 

$
47,342 

 

 

 

 

 

 

 

 

 

Total debt, net

 

$
5,738,113 

 

$
4,688,516 

 

 

 

 

 

 

 

 

 

Less: Current portion of long-term debt

 

$
696,245 

 

$
953,106 

 

 

 

 

 

 

 

 

 

Long-term debt, net

 

$
5,041,868 

 

$
3,735,410