INCOME TAXES (Tables)

12 Months Ended

Mar. 31, 2017

INCOME TAXES

Schedule of income (loss) from continuing operations by location

	2017		2016
U.S. operations	$	2,268,906	$	1,409,487
Foreign operations		(23,056)		(51,801)
Income from operations before tax		2,245,850		1,357,686
Income tax benefit		(2,834,319)		(768)
Net income	$	5,080,169	$	1,358,454

Schedule of components of income tax benefit

	2017		2016
Current
Federal	$	37,361	$	9,032
State		—		(9,800)
Total Current	$	37,361	$	(768)
Deferred
Federal		(2,320,258)		—
State		(551,422)		—
Total Deferred	$	(2,871,680)	$	(768)
Income tax benefit	$	(2,834,319)	$	(768)

Schedule of reconciliation between federal statutory income tax rate and effective income tax rate

	2017		2016
Federal statutory income tax	$	763,589	$	461,613
State income tax, net of federal benefit		41,603		(6,468)
Change in valuation allowance		(3,580,148)		(485,846)
Stock based compensation		—		23,096
Other		(59,363)		6,887
Income tax benefit	$	(2,834,319)	$	(768)

Summary of the components of deferred income tax assets and liabilities

	2017		2016
Deferred Tax Assets:
Compensation	$	162,571	$	307,427
Loss on uncompleted contracts		58,409		180,521
Foreign currency translation adjustment		5,508		5,455
Other liabilities not currently deductible		364,569		265,455
Share based compensation awards		245,811		92,744
Net operating loss carryforward		4,093,968		4,950,542
Valuation allowance		(1,537,726)		(5,117,874)
Total Deferred Tax Assets	$	3,393,110	$	684,270
Deferred Tax Liabilities:
Accelerated depreciation	$	(521,430)	$	(684,270)
Total Deferred Tax Liabilities	$	(521,430)	$	(684,270)
Net Deferred Tax Asset	$	2,871,680	$	—

Summary of carryforwards of net operating losses and tax credits

			Begins to
	Amount		Expire:
Federal net operating losses	$	6,589,720		2026
Federal alternative minimum tax credits	$	122,578		Indefinite
State net operating losses	$	26,022,238		2032