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Summary of Significant Accounting Policies (Tables)
9 Months Ended
Dec. 31, 2016
Summary of Significant Accounting Policies [Abstract]  
Summary of Warranty Activity

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Additions

 

 

 

 

 

 

 

    

Balance at

    

Charged to

    

Charged to

    

    

 

 

 

 

 

 

Beginning

 

Costs and

 

Other

 

 

 

Balance at

 

 

 

of Year

 

Expenses

 

Accounts

 

Deductions (1)

 

End of Year

 

Nine months ended December 31, 2016

 

 

 

 

 

 

 

 

 

 

 

 

 

Accrued warranty cost

 

$

244,310

 

79,100

 

-

 

(33,700)

 

$

289,710

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Year ended March 31, 2016

 

 

 

 

 

 

 

 

 

 

 

 

 

Accrued warranty cost

 

$

184,920

 

102,247

 

-

 

(42,857)

 

$

244,310

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Nine months ended December 31, 2015 (unaudited)

 

 

 

 

 

 

 

 

 

 

 

 

 

Accrued warranty cost

 

$

184,920

 

74,883

 

-

 

(28,431)

 

$

231,372

 

Note (1) Represents actual warranty payments for units covered under warranty

Loss Per Common Share

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Nine months ended December 31,

 

Year ended March 31,

 

 

 

2016

    

2015

 

2016

    

 

 

 

 

 

(Unaudited)

 

 

 

 

Numerator:

 

 

 

 

 

 

 

 

 

 

Net loss

 

$

(13,017,508)

 

$

(6,007,432)

 

$

(6,938,351)

 

Denominator for basic and diluted net loss per common  share:

 

 

 

 

 

 

 

 

 

 

Weighted average number of shares of common stock outstanding - basic and diluted

 

 

48,448,718

 

 

42,001,299

 

 

43,574,137

 

 

 

 

 

 

 

 

 

 

 

 

Net loss per common share - basic and diluted

 

$

(0.27)

 

$

(0.14)

 

$

(0.16)

 

 

The following table sets forth the potential shares of common stock that are not included in the calculation of diluted net loss per share because to do so would be anti-dilutive as of the end of each period presented:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31,

 

March 31,

 

 

    

2016

 

2015

    

2016

    

 

 

 

 

 

(Unaudited)

 

 

 

 

Non-vested stock bonus plan shares

 

 

102,048

 

 

90,561

 

 

88,214

 

Stock options outstanding

 

 

3,029,494

 

 

2,796,413

 

 

2,561,769

 

Warrants to purchase common stock

 

 

5,489,733

 

 

5,489,733

 

 

5,489,733