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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($)
6 Months Ended
Sep. 30, 2020
Sep. 30, 2019
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income (loss) $ 154,530 $ (70,244)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation 339,232 380,030
Amortization of debt issue costs 31,086 20,770
Stock based compensation expense 112,917 61,250
Change in contract loss provision (49,553) 186,603
Deferred income taxes 73,942 (17,358)
Changes in operating assets and liabilities:    
Accounts receivable (388,317) 183,602
Contract assets (1,475,912) 801,811
Inventories 126,457 (662,650)
Other current assets 320,847 (121,774)
Accounts payable 25,308 174,311
Accrued expenses 158,791 (73,954)
Contract liabilities (168,854) 75,438
Net cash (used in) provided by operating activities (739,526) 937,835
CASH FLOWS FROM INVESTING ACTIVITIES    
Purchases of property, plant and equipment (354,788) (11,544)
Net cash used in investing activities (354,788) (11,544)
CASH FLOWS FROM FINANCING ACTIVITIES    
Debt issue costs (8,282) (5,835)
Proceeds from payroll protection program 1,317,100 0
Proceeds from revolver loan 1,000,000 0
Repayment of revolver loan (1,000,000) 0
Repayment of long-term debt (53,614) (402,889)
Net cash provided by (used in) financing activities 1,255,204 (408,724)
Effect of exchange rate on cash and cash equivalents (133) 299
Net increase in cash and cash equivalents 160,757 517,866
Cash and cash equivalents, beginning of period 930,856 2,036,646
Cash and cash equivalents, end of period $ 1,091,613 $ 2,554,512