XML 15 R4.htm IDEA: XBRL DOCUMENT v3.5.0.2
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
3 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Net sales $ 5,342,369 $ 5,845,919
Cost of sales 3,465,716 4,030,624
Gross margin 1,876,653 1,815,295
Operating expenses:    
Selling, general and administrative 911,744 865,688
Engineering, research and development 584,877 492,132
Total operating expenses 1,496,621 1,357,820
Income from operations 380,032 457,475
Other income (expense):    
Amortization of deferred financing costs (1,356) (1,357)
Change in fair value of common stock warrants 217,203 67,760
Interest expense (17,826) (29,634)
Total other income (expense) 198,021 36,769
Income before income taxes 578,053 494,244
Income tax provision 167,744 215,178
Net income $ 410,309 $ 279,066
Net income per share:    
Basic income per common share (in Dollars per share) $ 0.13 $ 0.09
Diluted income per common share (in Dollars per share) $ 0.10 $ 0.02
Weighted average shares outstanding:    
Basic (in Shares) 3,255,887 3,256,887
Diluted (in Shares) 3,274,829 3,320,442