XML 20 R7.htm IDEA: XBRL DOCUMENT v3.21.2
Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Statement of Cash Flows [Abstract]    
Net income $ 600,057 $ 4,736,490
Adjustments to reconcile net income to net cash (used in) provided by operating activities:    
Deferred income taxes (27,027) (2,649,280)
Depreciation and amortization 125,120 104,652
Amortization of right-of-use assets 214,793 201,811
Forgiveness of PPP Loan (722,577) 0
Change in fair value of common stock warrant 0 73,000
Provision for inventory obsolescence 25,000 52,000
Non-cash stock-based compensation 21,996 21,669
Changes in assets and liabilities:    
(Increase) decrease in accounts receivable (521,677) 784,455
Increase in inventories (370,310) (210,397)
Decrease (increase) in prepaid expenses and other assets 189,889 (107,198)
Increase (decrease) in accounts payable 166,338 (318,494)
Increase in accrued legal damages 231,474 345,464
Increase in deferred revenues 10,839 110,509
(Decrease) increase in accrued payroll, vacation pay & withholdings (55,500) 118,436
Decrease in operating lease liabilities (214,793) (201,811)
Increase (decrease) in accrued expenses – related party and other 70,762 (140,276)
Net cash (used in) provided by operating activities (255,616) 2,921,030
Cash flows from investing activities:    
Acquisition of equipment (67,902) (133,682)
Net cash used in investing activities (67,902) (133,682)
Cash flows from financing activities:    
Payment of warrant liability 0 (116,500)
Payment of dividends (80,000) 0
Proceeds from PPP loans 1,445,154 0
Repayment of line of credit (680,000) (120,000)
Repayment of capitalized lease obligations (50) (6,836)
Net cash provided by (used in) financing activities 685,104 (243,336)
Net increase in cash and restricted cash 361,586 2,544,012
5,134,739 2,590,727
Supplemental cash flow information:    
Taxes paid 0 0
Interest paid 19,497 47,494
5,496,325 5,134,739
Cash 3,126,195 585,856
Restricted cash 2,008,544 2,004,871
Cash 3,485,275 3,126,195
Restricted cash $ 2,011,050 $ 2,008,544