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CONSOLIDATED BALANCE SHEETS - USD ($)
Mar. 31, 2017
Mar. 31, 2016
Current assets:    
Cash and cash equivalents $ 3,066,156 $ 1,332,166
Accounts receivable, net 1,870,672 2,022,480
Costs incurred on uncompleted contracts, in excess of progress billings 2,097,221 2,395,642
Inventories- raw materials 141,792 128,595
Other current assets 422,096 530,808
Total current assets 7,597,937 6,409,691
Property, plant and equipment, net 4,912,202 4,814,184
Deferred income taxes 3,393,110 684,270
Other noncurrent assets, net 100,000 176,344
Total assets 16,003,249 12,084,489
Current liabilities:    
Accounts payable 365,308 996,065
Accrued expenses 893,415 1,804,485
Income taxes payable 0 9,032
Advanced claims payment 0 507,835
Billings on uncompleted contracts, in excess of related costs 642,831 1,629,018
Current portion of long-term debt 717,481 953,106
Total current liabilities 2,619,035 5,899,541
Long-term debt, including capital leases 4,874,721 3,735,410
Deferred income taxes 521,430 684,270
Noncurrent accrued expenses 17,742 37,097
Commitments and contingent liabilities (see Note 15)
Stockholders’ Equity:    
Common stock - par value $.0001 per share, 90,000,000 shares authorized, 28,824,593 shares issued and outstanding at March 31, 2017, and 27,324,593 shares issued and outstanding at March 31, 2016 2,882 2,732
Additional paid in capital 8,258,820 7,094,749
Accumulated other comprehensive income 19,328 21,568
Accumulated deficit (310,709) (5,390,878)
Total stockholders’ equity 7,970,321 1,728,171
Total liabilities and stockholders’ equity $ 16,003,249 $ 12,084,489