Consolidated Balance Sheets - USD ($)
|
Mar. 31, 2022 |
Mar. 31, 2021 |
| Current assets: |
|
|
| Cash and cash equivalents |
$ 1,038,498
|
$ 1,546,950
|
| Accounts receivable, net of allowance for doubtful accounts of $675,000 and $50,000 at March 31, 2022 and March 31, 2021, respectively |
729,721
|
1,153,684
|
| Inventories |
288,076
|
227,234
|
| Prepaid expenses and other current assets |
57,741
|
47,039
|
| Total current assets |
2,114,036
|
2,974,907
|
| Other Assets: |
|
|
| Property and equipment, net of accumulated depreciation of $203,560 and $181,289 at March 31, 2022 and March 31, 2021, respectively |
0
|
22,271
|
| Operating lease right-of-use asset, net of accumulated depreciation of $307,882 and $225,781 at March 31, 2022 and March 31, 2021, respectively |
513,138
|
595,240
|
| Accounts receivable - long-term portion |
128,322
|
139,496
|
| Accounts receivable-related party, net of allowance for doubtful accounts of $250,000 at March 31, 2022 and March 31, 2021 |
80,090
|
80,090
|
| Inventories - long-term portion |
183,730
|
211,634
|
| Intangible assets, net of accumulated amortization of $19,751 and $16,871 at March 31, 2022 and March 31, 2021, respectively |
16,043
|
18,923
|
| Other assets |
90,538
|
90,538
|
| Deferred tax asset |
125,000
|
1,081,000
|
| Total other assets |
1,136,861
|
2,239,192
|
| Total assets |
3,250,897
|
5,214,099
|
| Current liabilities: |
|
|
| PPP loan |
5,335
|
288,257
|
| Line of credit |
334,760
|
226,413
|
| Warrant liability |
182,161
|
0
|
| Operating lease liability-current |
75,254
|
71,591
|
| Accounts payable |
329,554
|
364,305
|
| Accrued expenses and other current liabilities |
133,053
|
130,384
|
| Customer deposits |
263,619
|
293,638
|
| Due to stockholder |
50,233
|
89,391
|
| Total current liabilities |
1,373,969
|
1,463,979
|
| Long-term liabilities |
|
|
| PPP loan, net of current maturities |
11,700
|
425,285
|
| Operating lease liability, net of current portion |
491,265
|
566,609
|
| Total long-term liabilities |
502,965
|
991,894
|
| Total liabilities |
1,876,934
|
2,455,873
|
| Stockholders' equity: |
|
|
| Preferred stock, $.01 par value; 5,000,000 shares authorized, no shares issued and outstanding |
0
|
0
|
| Common stock, $0.0005 par value; 150,000,000 shares authorized, 67,588,492 shares issued and outstanding |
33,794
|
33,794
|
| Additional paid-in capital |
33,311,672
|
33,311,672
|
| Accumulated deficit |
(31,971,503)
|
(30,587,240)
|
| Total stockholders' equity |
1,373,963
|
2,758,226
|
| Total liabilities and stockholders' equity |
$ 3,250,897
|
$ 5,214,099
|