|
Consolidated Balance Sheets (unaudited) (USD $)
|
Jun. 30, 2012
|
Mar. 31, 2012
|
| Current assets: |
|
|
| Cash |
$ 266,000 |
$ 368,000 |
| Accounts receivable, net of reserve for returns, allowances and provision for doubtful accounts of $5,347 - June 30, 2012; $6,405 - March 31, 2012; |
26,441,000 |
18,945,000 |
| Inventories |
14,632,000 |
14,202,000 |
| Royalty and distribution fee advances |
11,203,000 |
13,567,000 |
| Prepaid expenses and other current assets |
1,496,000 |
1,303,000 |
| Total current assets |
54,038,000 |
48,385,000 |
| Noncurrent inventories, principally production costs |
729,000 |
555,000 |
| Noncurrent royalty and distribution fee advances |
14,669,000 |
17,766,000 |
| Property, equipment and improvements, net |
655,000 |
726,000 |
| Intangible assets, net |
1,291,000 |
1,462,000 |
| Goodwill |
6,762,000 |
6,762,000 |
| Other assets |
86,000 |
86,000 |
| Total assets |
78,230,000 |
75,742,000 |
| Current liabilities: |
|
|
| Accounts payable |
12,670,000 |
11,954,000 |
| Accrued liabilities |
5,752,000 |
4,164,000 |
| Accrued royalties and distribution fees |
19,249,000 |
21,624,000 |
| Deferred revenue |
3,233,000 |
3,468,000 |
| Revolving credit facility |
15,046,000 |
12,919,000 |
| Current portion of long-term debt, less debt discount |
720,000 |
664,000 |
| Total current liabilities |
56,670,000 |
54,793,000 |
| Noncontrolling interest liability |
521,000 |
500,000 |
| Series B cumulative preferred stock dividends accrued |
7,698,000 |
6,818,000 |
| Long-term debt, less current portion, less debt discount |
186,000 |
349,000 |
| Total liabilities |
65,075,000 |
62,460,000 |
| Commitments and Contingencies |
|
|
| Stockholders' equity: |
|
|
| Common stock, $0.0001 par value, 500 million shares authorized at June 30, 2012 and March 31, 2012, respectively; 256,402,000 issued and outstanding at June 30, 2012 and March 31, 2012, respectively |
26,000 |
26,000 |
| Additional paid-in capital |
66,692,000 |
66,324,000 |
| Accumulated deficit |
(59,402,000) |
(58,907,000) |
| Total stockholders' equity |
7,316,000 |
7,443,000 |
| Total liabilities, preferred stock and stockholders' equity |
78,230,000 |
75,742,000 |
|
Series B Cumulative Preferred Stock [Member]
|
|
|
| Preferred Stock: |
|
|
| Preferred stock |
5,839,000 |
5,839,000 |
|
Series C Junior Participating Preferred Stock [Member]
|
|
|
| Preferred Stock: |
|
|
| Preferred stock |
$ 0 |
$ 0 |