Profire Energy (PFIE) 10-Q 8 Feb 16 2016 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Dec. 31, 2015	Feb. 05, 2016
Document and Entity Information:
Entity Registrant Name	Profire Energy Inc
Document Type	10-Q
Document Period End Date	Dec. 31, 2015
Trading Symbol	pfie
Amendment Flag	false
Entity Central Index Key	1,289,636
Current Fiscal Year End Date	--03-31
Entity Common Stock, Shares Outstanding		53,255,275
Entity Filer Category	Smaller Reporting Company
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q3
Entity Incorporation, Date of Incorporation	May 5, 2003
Entity Incorporation, State Country Name	Nevada

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($)	Dec. 31, 2015	Mar. 31, 2015
CURRENT ASSETS
Cash and cash equivalents	$ 19,281,501	$ 14,144,796
Accounts receivable, net	6,515,543	9,462,378
Inventories	10,840,598	11,766,535
Income tax receivable	113,978
Prepaid expenses & other current assets	312,547	112,741
Total Current Assets	37,064,167	35,486,450
LONG-TERM ASSETS
Deferred tax asset	669,895	501,921
PROPERTY AND EQUIPMENT, net	8,449,492	9,275,965
OTHER ASSETS
Goodwill	997,701	997,701
Intangible assets, net of accumulated amortization	501,490	594,019
Total Other Assets	1,499,191	1,591,720
TOTAL ASSETS	47,682,745	46,856,056
CURRENT LIABILITIES
Accounts payable	1,379,019	1,040,530
Accrued liabilities	594,236	332,229
Income taxes payable	396,089	347,486
Total current liabilities	2,369,344	1,720,245
LONG-TERM LIABILITIES
Deferred income tax liability	616,735	631,353
TOTAL LIABILITIES	$ 2,986,079	$ 2,351,598
STOCKHOLDERS' EQUITY
Preferred shares: $0.001 par value, 10,000,000 shares authorized: no shares issued and outstanding
Common shares: $0.001 par value, 100,000,000 shares authorized: 53,255,275 and 53,199,136 shares issued and outstanding, respectively	$ 53,255	$ 53,199
Additional paid-in capital	26,152,201	25,525,052
Accumulated other comprehensive income (loss)	(3,122,872)	(1,888,981)
Retained earnings	21,614,082	20,815,188
Total Stockholders' Equity	44,696,666	44,504,458
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 47,682,745	$ 46,856,056

CONSOLIDATED BALANCE SHEETS PAR

CONSOLIDATED BALANCE SHEETS PARENTHETICAL - $ / shares	Dec. 31, 2015	Mar. 31, 2015
CONSOLIDATED BALANCE SHEETS PARENTHETICAL
Preferred stock par value	$ 0.001	$ 0.001
Preferred stock shares authorized	10,000,000	10,000,000
Preferred stock shares issued
Preferred stock shares outstanding
Common stock par value	$ 0.001	$ 0.001
Common stock shares authorized	100,000,000	100,000,000
Common stock shares issued	53,255,275	53,199,136
Common stock shares outstanding	53,255,275	53,199,136

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($)	3 Months Ended		9 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2015	Dec. 31, 2014
REVENUES
Sales of goods, net	$ 6,515,584	$ 11,695,016	$ 20,019,400	$ 38,640,246
Sales of services, net	1,038,671	821,683	2,509,392	2,742,219
Total Revenues	7,554,255	12,516,699	22,528,792	41,382,465
COST OF SALES
Cost of goods sold-product	2,833,909	5,299,912	9,247,014	16,837,531
Cost of goods sold-services	722,288	674,192	1,941,819	2,015,796
Total Cost of Goods Sold	3,556,197	5,974,104	11,188,833	18,853,327
GROSS PROFIT	3,998,058	6,542,595	11,339,959	22,529,138
OPERATING EXPENSES
General and administrative expenses	1,800,491	2,446,896	5,439,067	7,722,366
Research and development	348,874	521,814	948,508	1,331,834
Payroll expenses	1,230,022	1,591,397	3,952,447	4,624,826
Depreciation and amortization expense	128,793	176,371	374,247	424,014
Total Operating Expenses	3,508,180	4,736,478	10,714,269	14,103,040
INCOME FROM OPERATIONS	489,878	1,806,117	625,690	8,426,098
OTHER INCOME (EXPENSE)
Interest expense		(14,222)		(14,222)
Gain on disposal of fixed assets	0	9,052	19,391	9,052
Other (expense) income	177,931	(910)	421,251	1,954
Interest income	5,217	6,687	31,857	14,467
Total Other Income (Expense)	183,148	607	472,499	11,251
NET INCOME BEFORE INCOME TAXES	673,026	1,806,724	1,098,189	8,437,349
INCOME TAX EXPENSE (BENEFIT)	194,227	(110,426)	299,295	2,221,292
NET INCOME	478,799	1,917,150	798,895	6,216,057
FOREIGN CURRENCY TRANSLATION GAIN (LOSS)	(482,744)	(381,099)	(1,233,891)	(539,777)
TOTAL COMPREHENSIVE INCOME (LOSS)	$ (3,945)	$ 1,536,051	$ (434,997)	$ 5,676,280
BASIC EARNINGS PER SHARE	$ 0.01	$ 0.04	$ 0.02	$ 0.12
FULLY DILUTED EARNINGS PER SHARE	$ 0.01	$ 0.04	$ 0.01	$ 0.12
BASIC WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING	53,255,275	52,884,358	53,239,087	51,112,924
FULLY DILUTED WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING	53,523,081	53,161,058	53,506,778	51,389,624

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	9 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
OPERATING ACTIVITIES
Net Income	$ 798,895	$ 6,216,057
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization expense	729,695	784,193
Gain on disposal of fixed assets	(19,391)	(9,052)
Bad debt expense	104,252	(14,832)
Stock options issued for services	666,450	1,031,301
Changes in operating assets and liabilities:
Changes in accounts receivable	2,683,035	(3,035,929)
Changes in income tax receivable	(113,978)
Changes in inventories	625,368	(4,533,903)
Changes in prepaid expenses	(199,923)	(345,977)
Changes in deferred tax asset	(167,974)	(246,016)
Changes in accounts payable and accrued liabilities	627,765	1,831,277
Changes in income taxes payable	45,417	(478,480)
Net Cash Provided by Operating Activities	5,779,611	1,198,639
INVESTING ACTIVITIES
Proceeds from disposal of equipment	116,524	9,052
Cash paid for asset acquisition		(750,000)
Purchase of fixed assets	(62,465)	(5,941,953)
Net Cash Provided by (Used in) Investing Activities	54,059	(6,682,901)
FINANCING ACTIVITIES
Proceeds from stock issued for cash, net of stock offering costs		16,424,688
Value of equity awards surrendered by employees for tax liability	(39,243)
Stock issued in exercise of stock options		197,961
Net Cash Provided by (Used in) Financing Activities	(39,243)	16,622,649
Effect of exchange rate changes on cash	(657,722)	(209,454)
NET INCREASE IN CASH	5,136,705	10,928,933
CASH AT BEGINNING OF PERIOD	14,144,796	4,456,674
CASH AT END OF PERIOD	19,281,501	15,385,607
CASH PAID FOR:
Interest		14,222
Income taxes	$ 402,417	2,890,769
NON CASH INVESTING AND FINANCING ACTIVITIES:
Stock issued for acquisition		$ 1,000,000

Note 1 - Condensed Financial St

Note 1 - Condensed Financial Statements	9 Months Ended
	Dec. 31, 2015
Notes
Note 1 - Condensed Financial Statements	NOTE 1 – CONDENSED CONSOLIDATED FINANCIAL STATEMENTS The accompanying financial statements have been prepared by the Company without audit. In the opinion of management, all adjustments (which include only normal recurring adjustments) necessary to present fairly the financial position, results of operations and cash flows at December 31, 2015 and for all periods presented have been made. Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted. It is suggested that these condensed consolidated financial statements be read in conjunction with the financial statements and notes thereto included in the Company's March 31, 2015 audited financial statements. The results of operations for the periods ended December 31, 2015 and 2014 are not necessarily indicative of the operating results for the full years.

Note 2 - Significant Accounting

Note 2 - Significant Accounting Policies	9 Months Ended
	Dec. 31, 2015
Notes
Note 2 - Significant Accounting Policies	Note 2 – Organization and Summary of Significant Accounting Policies This Organization and Summary of Significant Accounting Policies of Profire Energy, Inc. and Subsidiaries (the “Company”) is presented to assist in understanding the Company’s consolidated financial statements. The Company’s accounting policies conform to accounting principles generally accepted in the United States of America (“U.S. GAAP”). Organization and Line of Business The Parent was incorporated on May 5, 2003 in the State of Nevada. The Subsidiary was incorporated on March 6, 2002 in the province of Alberta, Canada. The Company provides burner and chemical management products and services for the oil and gas industry in Canadian and United States (“U.S.”) markets. Use of Estimates The preparation of financial statements in accordance with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reportable amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Principles of Consolidation The consolidated financial statements include our wholly-owned subsidiaries. Intercompany balances and transactions have been eliminated. Basic and Diluted Earnings Per Share The computation of basic earnings per share of common stock is based on the weighted average number of shares outstanding during the periods presented using the treasury stock method. The computation of fully diluted earnings per share includes common stock equivalents outstanding at the balance sheet date. The Company had 267,691 and 696,219 equity awards included in the fully diluted earnings (loss) per share as of December 31, 2015 and 2014, respectively. For the Three Months Ended December 31, For the Nine Months Ended December 31, 2015 2014 2015 2014 Net income applicable to common shareholders $ 478,799 $ 1,917,150 $ 798,895 $ 6,216,057 Weighted average shares outstanding 53,255,275 52,884,358 53,239,087 51,112,924 Weighted average fully diluted shares outstanding 53,523,081 53,161,058 53,506,778 51,389,624 Basic earnings per share $ 0.01 $ 0.04 $ 0.02 $ 0.12 Fully diluted earnings per share $ 0.01 $ 0.04 $ 0.01 $ 0.12 Foreign Currency and Comprehensive Income The functional currency of the Company and its subsidiaries in the U.S. and Canada are the U.S. Dollar (“USD”) and the Canadian Dollar (“CAD”), respectively. The Company’s financial statements were translated to USD using period-end exchange rates for the balance sheet, and average exchange rates for the statements of operations. Equity transactions were translated using historical rates. The period-end exchange rates of 0.720900 and 0.788786 were used to convert the Company’s December 31, 2015 and March 31, 2015 balance sheets, respectively, and the statements of operations used weighted average rates of 0.775800 and 0.918000 for the nine months ended December 31, 2015 and 2014, respectively. All amounts in the financial statements and footnotes are presented in USD, unless otherwise identified. Foreign currency translation gains or losses as a result of fluctuations in the exchange rates are reflected in the Consolidated Statement of Operations and Comprehensive Income. The Company recorded aggregate transaction gains of $428,112 and $0 during the nine months ended December 31, 2015 and 2014, respectively. Fair Value of Financial Instruments The fair value of a financial instrument is the amount that could be received upon the sale of an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Financial assets are marked to bid prices and financial liabilities are marked to offer prices. Fair value measurements do not include transaction costs. A fair value hierarchy is used to prioritize the quality and reliability of the information used to determine fair values. Categorization within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. The fair value hierarchy is defined into the following three categories: Level 1: Quoted market prices in active markets for identical assets or liabilities. Level 2: Observable market-based inputs or inputs that are corroborated by market data. Level 3: Unobservable inputs that are not corroborated by market data. Fair value estimates of financial instruments are made at a specific point in time, based on relevant information about financial markets and specific financial instruments. As these estimates are subjective in nature, involving uncertainties and matters of significant judgment, they cannot be determined with precision. Changes in assumptions can significantly affect estimated fair value. The carrying value of cash, accounts receivable, accounts payable and accrued liabilities approximate their fair value because of the short-term nature of these instruments. Management is of the opinion that the Company is not exposed to significant interest or credit risks arising from these financial instruments. Cash and Cash Equivalents For purposes of the statement of cash flows, cash and cash equivalents include cash and all debt securities with an original maturity of 90 days or less. As of December 31, 2015 and March 31, 2015, cash and cash equivalents totaled $19,281,501 and $14,144,796, respectively. As of December 31, 2015 $250,000 USD was guaranteed by the FDIC and $72,090 USD was guaranteed by the Province of Alberta, Canada. Accounts Receivable Receivables from the sale of goods and services are stated at net realizable value. This value includes an appropriate allowance for estimated uncollectible accounts. The allowance is calculated based on past collectability and customer relationships. The Company recorded an allowance for doubtful accounts of $211,068 and $108,641 as of December 31, 2015 and March 31, 2015, respectively. Inventories In accordance with Accounting Research Bulletin No. 43 “Inventory Pricing,” December 31, 2015 March 31, 2015 Raw materials $ 688,830 $ - Finished goods 10,400,207 11,951,108 Work in process - - Subtotal 11,089,037 11,951,108 Reserve for Obsolence (248,439) (184,573) Total $ 10,840,598 $ 11,766,535 Long-Lived Assets The Company periodically reviews the carrying amount of long-lived assets for impairment. An asset is considered impaired when estimated future cash flows are less than the asset’s carrying amount. In the event the carrying amount of such asset is not considered recoverable, the asset is adjusted to its fair value. Fair value is generally determined based on discounted future cash flow. Beginning in fiscal year 2016, the Company revised the estimated useful lives from 5 to 7 years for furniture and fixtures, and machinery and equipment, 25 to 30 years for buildings, 3 to 5 years for vehicles, and added a software asset type with a useful life of 2 years. The change in depreciable lives is considered a change in accounting estimate on a prospective basis from April 1, 2015 and had an immaterial impact on overall financial statements for the period ended December 31, 2015. Other Intangible Assets The Company accounts for Other Intangible Assets under the guidance of Accounting Standards Codification (“ASC”) 350, “ Intangibles—Goodwill and Other Goodwill Goodwill, representing the difference between the total purchase price and the fair value of assets (tangible and intangible) and liabilities at the date of acquisition, is reviewed for impairment annually, and more frequently as circumstances warrant, and written down only in the period in which the recorded value of such assets exceeds their fair value. The Company does not amortize goodwill in accordance with Financial Accounting Standards Board (the “FASB”) ASC 350, “ Intangibles—Goodwill and Other Revenue Recognition The Company records sales when a firm sales agreement is in place, delivery has occurred or services have been rendered, and collectability of the fixed or determinable sales price is reasonably assured. If customer acceptance of products is not assured, the Company records sales only upon formal customer acceptance. Cost of Sales The Company includes product costs (i.e., material, direct labor and overhead costs), shipping and handling expense, production-related depreciation expense and product license agreement expense in cost of sales. Advertising Costs The Company classifies advertising expenses as general and administrative. The Company incurred advertising costs of $64,632 and $172,464 in the nine months ended December 31, 2015 and 2014, respectively. Stock-Based Compensation The Company follows the provisions of ASC 718, “ Share-Based Payment Income Taxes The Parent is subject to U.S. income taxes on a stand-alone basis. The Parent and its Subsidiaries file separate stand-alone tax returns in each jurisdiction in which they operate. One Subsidiary is a corporation operating in Canada and is subject to Canadian income taxes on its stand-alone taxable income. The effective rates of income tax expense (benefit) are 27% and 26% for the nine months ended December 31, 2015 and 2014, respectively. The Company utilizes an asset and liability approach for financial accounting and reporting for income taxes. Deferred income taxes are provided for temporary differences in the basis of assets and liabilities as reported for financial statement and income tax purposes. Deferred income taxes reflect the tax effects of net operating loss and tax credit carryovers and temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Realization of certain deferred tax assets is dependent upon future earnings, if any. The Company makes estimates and judgments in determining the need for a provision for income taxes, including the estimation of taxable income for each full fiscal year. Research and Development All costs associated with research and development (“R&D”) are expensed when incurred. Costs incurred for R&D were $948,508 and $1,331,834 in nine months ended December 31, 2015 and 2014, respectively. Shipping and Handling Fees and Costs The Company classifies expenses for shipping and handling costs as cost of goods sold. The Company incurred shipping and handling costs of $208,881 and $420,290 during the nine months ended December 31, 2015 and 2014, respectively. Comprehensive Income (Loss) Comprehensive income (loss) includes net income (loss) as currently reported by the Company adjusted for other comprehensive items. Other comprehensive items for the Company consist of foreign currency translation gains and losses, and unrealized holding gains and losses on available-for-sale securities. Recent Accounting Pronouncements The Company has evaluated recent accounting pronouncements and their adoption has not had or is not expected to have a material impact on the Company’s financial position, results of operations or cash flows. Property and Equipment Useful Lives Property and equipment is stated at cost. Depreciation on property and equipment is computed using the straight-line method over the estimated useful life of the asset. Assets estimated useful lives are as follows: Assets Estimated useful life Furniture and fixtures 7 Years Machinery and equipment 7 Years Buildings 30 Years Vehicles 5 Years Computers 3 Years Software 2 Years

Note 3 - Property and Equipment

Note 3 - Property and Equipment	9 Months Ended
	Dec. 31, 2015
Notes
Note 3 - Property and Equipment	NOTE 3 – PROPERTY, PLANT AND EQUIPMENT Property and equipment consisted of the following as of December 31, 2015 and March 31, 2015: December 31, 2015 March 31, 2015 Office furniture and equipment $ 956,362 $ 937,274 Service and shop equipment 560,282 573,233 Vehicles 2,805,416 3,040,439 Land and buildings 6,655,361 6,746,597 Total property and equipment 10,977,421 11,297,543 Accumulated depreciation (2,527,929) (2,021,578) Net property and equipment $ 8,449,492 $ 9,275,965

Note 4 - Stockholders' Equity

Note 4 - Stockholders' Equity	9 Months Ended
	Dec. 31, 2015
Notes
Note 4 - Stockholders' Equity	Note 4 – STOCKHOLDERS’ EQUITY The Company had the following $0.001 par value authorized stock: Preferred Stock 10,000,000 shares. Common Stock 100,000,000 shares. As of December 31, 2015 and March 31, 2015, the Company had 53,255,275 and 53,199,136 shares of common stock issued and outstanding, respectively. On June 2, 2014, the Company filed a registration statement on Form S-1 to register shares of common stock with the Securities and Exchange Commission to be offered to the public by the Company and by certain selling stockholders named in the registration statement. The Company also filed amendments to such registration statement on June 19, 2014, June 24, 2014, June 25, 2014, and June 26, 2014. The net proceeds from the sale of 4,500,000 shares of common stock pursuant to the registration statement was approximately $16,430,000, after deducting underwriting discounts, commissions, and estimated offering expenses payable by the Company. The Company did not receive any proceeds from the sale of shares of common stock by the selling stockholders. We expect to use the proceeds from this offering for expansion of our sales and service team to match the demand for our product in regions where recent legislation passed, requiring the use of our technology, and for other working capital purposes. We may also use a portion of the net proceeds to fund possible investments in, or acquisitions of, complementary businesses, solutions or technologies. In addition, the amount and timing of what we actually spend for these purposes may vary significantly and will depend on a number of factors, including our future revenue and cash generated by operations and other factors. Accordingly, our management will have discretion and flexibility in applying the net proceeds of this offering. Pending any uses, as described above, we intend to invest the net proceeds in high quality, investment grade, short-term fixed income instruments which include corporate, financial institution, federal agency or U.S. government obligations.

Note 5 - Intangible Assets

Note 5 - Intangible Assets	9 Months Ended
	Dec. 31, 2015
Notes
Note 5 - Intangible Assets	NOTE 5 – INTANGIBLE ASSETS Definite-lived intangible assets consist of distribution agreements, patents, trademarks, copyrights, and domain names. The costs of distribution agreements are amortized over the remaining life of the agreements. The costs of the patents are to be amortized over 20 years once the patent has been approved. Indefinite-lived intangible assets consist of goodwill. In accordance with ASC 350, goodwill is not amortized but tested for impairment annually or more frequently when events or circumstances indicates that the carrying value of a reporting unit more likely than not exceeds its fair value. The Company’s annual goodwill impairment testing date is March 31 of each year. Intangible assets consisted of the following as of December 31, 2015 and March 31, 2015: Definite-lived intangible assets December 31, 2015 March 31, 2015 Distribution agreements $ 38,053 $ 41,638 Less: Accumulated amortization (38,053) (27,757) Distribution agreements, net 0 13,881 Patents, trademarks, copyrights, and domain names 530,211 580,138 Less: Accumulated amortization (28,721) - Patents, trademarks, copyrights, and domain names, net 501,490 580,138 Total definite-lived intangible assets, net $ 501,490 $ 594,019 Indefinite-lived intangible assets December 31, 2015 March 31, 2015 Goodwill $ 997,701 $ 997,701 Estimated amortization expense for the distribution agreements, patents, trademarks, copyrights, and domain names for the next five years consists of the following as of March 31, 2015: Year Ending March 31, 2016 $ 27,581 2017 29,007 2018 29,007 2019 29,007 2020 29,007

Note 6 - Segment Information

Note 6 - Segment Information	9 Months Ended
	Dec. 31, 2015
Notes
Note 6 - Segment Information	NOTE 6 – SEGMENT INFORMATION The Company operates in the United States and Canada. Segment information for these areas is as follows: For the Three Months Ended December 31, For the Nine Months Ended December 31, Sales 2015 2014 2015 2014 Canada $ 1,906,031 $ 3,727,730 $ 5,244,284 $ 13,260,794 United States 5,648,224 8,788,969 17,284,508 28,121,671 Total $7,554,255 $ 12,516,699 $ 22,528,792 $ 41,382,465 Long-lived assets December 31, 2015 March 31, 2015 Canada $ 1,016,084 $ 1,231,434 United States 7,433,408 8,044,531 Total $ 8,449,492 $ 9,275,965

Note 7 - Stock Based Compensati

Note 7 - Stock Based Compensation	9 Months Ended
	Dec. 31, 2015
Notes
Note 7 - Stock Based Compensation	NOTE 7 – STOCK BASED COMPENSATION On July 23, 2015 the Company issued a total of 208,334 restricted stock units to key employees. The units vest 1/5 each year for 5 years, with the first vesting occurring on the date of grant. On October 30, 2015, the Company issued a total of 320,000 restricted stock units to the independent directors of the Company. Half of the units vested immediately with the remaining half vesting September 17, 2016. The Company estimates the fair value of the units at their intrinsic value at time of granting. The Company recognized $666,450 and $1,031,300 in expense for the fair value of previously granted stock based compensation vested during the nine months ended December 31, 2015, and 2014, respectively. Stock compensation expense is recognized on a pro-rata basis over the vesting period of the equity awards. Subsequent to December 31, 2015, $1,513,347 of compensation expense on equity awards remains to be recognized in future periods. A summary of the status of the Company’s stock option plans as of December 31, 2015 and March 31, 2015 and the changes during each period are presented below: Options Wtd. Avg. Fair Value Outstanding, March 31, 2014 3,074,850 1.47 Granted 133,900 4.03 Exercised (596,635) 0.55 Forfeited (498,615) 1.39 Expired - - Outstanding, March 31, 2015 2,113,500 1.90 Exercisable, March 31, 2015 907,000 2.27 Options Wtd. Avg. Fair Value Outstanding, March 31, 2015 2,113,500 1.90 Granted - - Exercised - - Forfeited (512,600) 1.52 Expired - - Outstanding, December 31, 2015 1,600,900 1.98 Exercisable, December 31, 2015 913,200 2.29 The following table summarizes information about the Company’s outstanding stock options as of March 31, 2015: Outstanding Options (1 share/option) Average Remaining Life (Yrs) Exercisable Shares Weighted Average Exercise Price Strike Price $ 0.30 110,000 1.88 40,000 0.30 $ 1.37 1,118,000 4.08 284,000 1.37 $ 1.75 475,000 2.93 283,000 1.75 $ 3.85 200,000 4.61 200,000 3.85 $ 3.95 100,000 4.86 100,000 3.95 $ 4.03 110,500 5.09 - 4.03 2,113,500 4.02 907,000 2.27 The following table summarizes information about the Company’s outstanding stock options as of December 31, 2015: Outstanding Options (1 share/option) Average Remaining Life (Yrs) Exercisable Shares Weighted Average Exercise Price Strike Price $ 0.30 110,000 1.13 40,000 0.30 $ 1.37 744,000 3.33 346,500 1.37 $ 1.75 347,500 2.18 206,500 1.75 $ 3.85 200,000 3.85 200,000 3.85 $ 3.95 100,000 4.11 100,000 3.95 $ 4.03 99,400 4.34 20,200 4.03 1,600,900 3.16 913,200 2.29 The following table summarizes information about non-vested options as of the nine months ended December 31, 2015: Non-vested options Options Wtd. Avg. Grant Date Fair Value Non-vested at March 31, 2015 1,206,500 1.58 Stock options issued during the period - - Stock options canceled (512,600) 1.52 Vested during the period ended December 31, 2015 (230,600) 1.62 Cancellation of previously vested stock options 224,400 1.52 Non-vested at December 31, 2015 687,700 2.97 The following table summarizes information about non-vested restricted stock awards as of the nine months ended December 31, 2015: Non-vested restricted stock Options Wtd. Avg. Grant Date Fair Value Non-vested at March 31, 2015 171,666 4.03 Restricted stock issued during the period - - Restricted Stock canceled (20,000) 4.03 Vested & settled during the period ended December 31, 2015 (34,332) 4.03 Non-vested at December 31, 2015 117,334 4.03 Non-vested restricted stock units Restricted Stock Units Wtd. Avg. Grant Date Fair Value Non-vested at March 31, 2015 106,907 3.94 Restricted stock units issued during the period 528,334 1.05 Restricted stock units canceled (76,999) 1.68 Vested, not settled during the period ended December 31, 2015 (199,908) 1.68 Vested & settled during the period ended December 31, 2015 (52,001) 1.62 Non-vested at December 31, 2015 306,333 1.38

Note 8 - Subsequent Events

Note 8 - Subsequent Events	9 Months Ended
	Dec. 31, 2015
Notes
Note 8 - Subsequent Events	NOTE 8 – SUBSEQUENT EVENTS In accordance with ASC 855 “Subsequent Events”

Note 2 - Significant Accounti14

Note 2 - Significant Accounting Policies: Use of Estimates (Policies)	9 Months Ended
	Dec. 31, 2015
Policies
Use of Estimates	Use of Estimates The preparation of financial statements in accordance with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reportable amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

Note 2 - Significant Accounti15

Note 2 - Significant Accounting Policies: Principles of Consolidation (Policies)	9 Months Ended
	Dec. 31, 2015
Policies
Principles of Consolidation	Principles of Consolidation The consolidated financial statements include our wholly-owned subsidiaries. Intercompany balances and transactions have been eliminated.

Note 2 - Significant Accounti16

Note 2 - Significant Accounting Policies: Basic and Diluted Earnings Per Share (Policies)	9 Months Ended
	Dec. 31, 2015
Policies
Basic and Diluted Earnings Per Share	Basic and Diluted Earnings Per Share The computation of basic earnings per share of common stock is based on the weighted average number of shares outstanding during the periods presented using the treasury stock method. The computation of fully diluted earnings per share includes common stock equivalents outstanding at the balance sheet date. The Company had 267,691 and 696,219 equity awards included in the fully diluted earnings (loss) per share as of December 31, 2015 and 2014, respectively. For the Three Months Ended December 31, For the Nine Months Ended December 31, 2015 2014 2015 2014 Net income applicable to common shareholders $ 478,799 $ 1,917,150 $ 798,895 $ 6,216,057 Weighted average shares outstanding 53,255,275 52,884,358 53,239,087 51,112,924 Weighted average fully diluted shares outstanding 53,523,081 53,161,058 53,506,778 51,389,624 Basic earnings per share $ 0.01 $ 0.04 $ 0.02 $ 0.12 Fully diluted earnings per share $ 0.01 $ 0.04 $ 0.01 $ 0.12

Note 2 - Significant Accounti17

Note 2 - Significant Accounting Policies: Foreign Currency and Comprehensive Income (Policies)	9 Months Ended
	Dec. 31, 2015
Policies
Foreign Currency and Comprehensive Income	Foreign Currency and Comprehensive Income The functional currency of the Company and its subsidiaries in the U.S. and Canada are the U.S. Dollar (“USD”) and the Canadian Dollar (“CAD”), respectively. The Company’s financial statements were translated to USD using period-end exchange rates for the balance sheet, and average exchange rates for the statements of operations. Equity transactions were translated using historical rates. The period-end exchange rates of 0.720900 and 0.788786 were used to convert the Company’s December 31, 2015 and March 31, 2015 balance sheets, respectively, and the statements of operations used weighted average rates of 0.775800 and 0.918000 for the nine months ended December 31, 2015 and 2014, respectively. All amounts in the financial statements and footnotes are presented in USD, unless otherwise identified. Foreign currency translation gains or losses as a result of fluctuations in the exchange rates are reflected in the Consolidated Statement of Operations and Comprehensive Income. The Company recorded aggregate transaction gains of $428,112 and $0 during the nine months ended December 31, 2015 and 2014, respectively.

Note 2 - Significant Accounti18

Note 2 - Significant Accounting Policies: Fair Value of Financial Instruments (Policies)	9 Months Ended
	Dec. 31, 2015
Policies
Fair Value of Financial Instruments	Fair Value of Financial Instruments The fair value of a financial instrument is the amount that could be received upon the sale of an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Financial assets are marked to bid prices and financial liabilities are marked to offer prices. Fair value measurements do not include transaction costs. A fair value hierarchy is used to prioritize the quality and reliability of the information used to determine fair values. Categorization within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. The fair value hierarchy is defined into the following three categories: Level 1: Quoted market prices in active markets for identical assets or liabilities. Level 2: Observable market-based inputs or inputs that are corroborated by market data. Level 3: Unobservable inputs that are not corroborated by market data. Fair value estimates of financial instruments are made at a specific point in time, based on relevant information about financial markets and specific financial instruments. As these estimates are subjective in nature, involving uncertainties and matters of significant judgment, they cannot be determined with precision. Changes in assumptions can significantly affect estimated fair value. The carrying value of cash, accounts receivable, accounts payable and accrued liabilities approximate their fair value because of the short-term nature of these instruments. Management is of the opinion that the Company is not exposed to significant interest or credit risks arising from these financial instruments.

Note 2 - Significant Accounti19

Note 2 - Significant Accounting Policies: Cash and Cash Equivalents (Policies)	9 Months Ended
	Dec. 31, 2015
Policies
Cash and Cash Equivalents	Cash and Cash Equivalents For purposes of the statement of cash flows, cash and cash equivalents include cash and all debt securities with an original maturity of 90 days or less. As of December 31, 2015 and March 31, 2015, cash and cash equivalents totaled $19,281,501 and $14,144,796, respectively. As of December 31, 2015 $250,000 USD was guaranteed by the FDIC and $72,090 USD was guaranteed by the Province of Alberta, Canada.

Note 2 - Significant Accounti20

Note 2 - Significant Accounting Policies: Accounts Receivable (Policies)	9 Months Ended
	Dec. 31, 2015
Policies
Accounts Receivable	Accounts Receivable Receivables from the sale of goods and services are stated at net realizable value. This value includes an appropriate allowance for estimated uncollectible accounts. The allowance is calculated based on past collectability and customer relationships. The Company recorded an allowance for doubtful accounts of $211,068 and $108,641 as of December 31, 2015 and March 31, 2015, respectively.

Note 2 - Significant Accounti21

Note 2 - Significant Accounting Policies: Inventories (Policies)	9 Months Ended
	Dec. 31, 2015
Policies
Inventories	Inventories In accordance with Accounting Research Bulletin No. 43 “Inventory Pricing,” December 31, 2015 March 31, 2015 Raw materials $ 688,830 $ - Finished goods 10,400,207 11,951,108 Work in process - - Subtotal 11,089,037 11,951,108 Reserve for Obsolence (248,439) (184,573) Total $ 10,840,598 $ 11,766,535

Note 2 - Significant Accounti22

Note 2 - Significant Accounting Policies: Long-lived Assets (Policies)	9 Months Ended
	Dec. 31, 2015
Policies
Long-lived Assets	Long-Lived Assets The Company periodically reviews the carrying amount of long-lived assets for impairment. An asset is considered impaired when estimated future cash flows are less than the asset’s carrying amount. In the event the carrying amount of such asset is not considered recoverable, the asset is adjusted to its fair value. Fair value is generally determined based on discounted future cash flow. Beginning in fiscal year 2016, the Company revised the estimated useful lives from 5 to 7 years for furniture and fixtures, and machinery and equipment, 25 to 30 years for buildings, 3 to 5 years for vehicles, and added a software asset type with a useful life of 2 years. The change in depreciable lives is considered a change in accounting estimate on a prospective basis from April 1, 2015 and had an immaterial impact on overall financial statements for the period ended December 31, 2015.

Note 2 - Significant Accounti23

Note 2 - Significant Accounting Policies: Other Intangible Assets and Goodwill (Policies)	9 Months Ended
	Dec. 31, 2015
Policies
Other Intangible Assets and Goodwill	Other Intangible Assets The Company accounts for Other Intangible Assets under the guidance of Accounting Standards Codification (“ASC”) 350, “ Intangibles—Goodwill and Other Goodwill Goodwill, representing the difference between the total purchase price and the fair value of assets (tangible and intangible) and liabilities at the date of acquisition, is reviewed for impairment annually, and more frequently as circumstances warrant, and written down only in the period in which the recorded value of such assets exceeds their fair value. The Company does not amortize goodwill in accordance with Financial Accounting Standards Board (the “FASB”) ASC 350, “ Intangibles—Goodwill and Other

Note 2 - Significant Accounti24

Note 2 - Significant Accounting Policies: Revenue Recognition (Policies)	9 Months Ended
	Dec. 31, 2015
Policies
Revenue Recognition	Revenue Recognition The Company records sales when a firm sales agreement is in place, delivery has occurred or services have been rendered, and collectability of the fixed or determinable sales price is reasonably assured. If customer acceptance of products is not assured, the Company records sales only upon formal customer acceptance.

Note 2 - Significant Accounti25

Note 2 - Significant Accounting Policies: Cost of Sales (Policies)	9 Months Ended
	Dec. 31, 2015
Policies
Cost of Sales	Cost of Sales The Company includes product costs (i.e., material, direct labor and overhead costs), shipping and handling expense, production-related depreciation expense and product license agreement expense in cost of sales.

Note 2 - Significant Accounti26

Note 2 - Significant Accounting Policies: Advertising Costs (Policies)	9 Months Ended
	Dec. 31, 2015
Policies
Advertising Costs	Advertising Costs The Company classifies advertising expenses as general and administrative. The Company incurred advertising costs of $64,632 and $172,464 in the nine months ended December 31, 2015 and 2014, respectively.

Note 2 - Significant Accounti27

Note 2 - Significant Accounting Policies: Stock-based Compensation (Policies)	9 Months Ended
	Dec. 31, 2015
Policies
Stock-based Compensation	Stock-Based Compensation The Company follows the provisions of ASC 718, “ Share-Based Payment

Note 2 - Significant Accounti28

Note 2 - Significant Accounting Policies: Income Taxes (Policies)	9 Months Ended
	Dec. 31, 2015
Policies
Income Taxes	Income Taxes The Parent is subject to U.S. income taxes on a stand-alone basis. The Parent and its Subsidiaries file separate stand-alone tax returns in each jurisdiction in which they operate. One Subsidiary is a corporation operating in Canada and is subject to Canadian income taxes on its stand-alone taxable income. The effective rates of income tax expense (benefit) are 27% and 26% for the nine months ended December 31, 2015 and 2014, respectively. The Company utilizes an asset and liability approach for financial accounting and reporting for income taxes. Deferred income taxes are provided for temporary differences in the basis of assets and liabilities as reported for financial statement and income tax purposes. Deferred income taxes reflect the tax effects of net operating loss and tax credit carryovers and temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Realization of certain deferred tax assets is dependent upon future earnings, if any. The Company makes estimates and judgments in determining the need for a provision for income taxes, including the estimation of taxable income for each full fiscal year.

Note 2 - Significant Accounti29

Note 2 - Significant Accounting Policies: Research and Development (Policies)	9 Months Ended
	Dec. 31, 2015
Policies
Research and Development	Research and Development All costs associated with research and development (“R&D”) are expensed when incurred. Costs incurred for R&D were $948,508 and $1,331,834 in nine months ended December 31, 2015 and 2014, respectively.

Note 2 - Significant Accounti30

Note 2 - Significant Accounting Policies: Shipping and Handling Fees and Costs (Policies)	9 Months Ended
	Dec. 31, 2015
Policies
Shipping and Handling Fees and Costs	Shipping and Handling Fees and Costs The Company classifies expenses for shipping and handling costs as cost of goods sold. The Company incurred shipping and handling costs of $208,881 and $420,290 during the nine months ended December 31, 2015 and 2014, respectively.

Note 2 - Significant Accounti31

Note 2 - Significant Accounting Policies: Comprehensive Income (Loss) (Policies)	9 Months Ended
	Dec. 31, 2015
Policies
Comprehensive Income (Loss)	Comprehensive Income (Loss) Comprehensive income (loss) includes net income (loss) as currently reported by the Company adjusted for other comprehensive items. Other comprehensive items for the Company consist of foreign currency translation gains and losses, and unrealized holding gains and losses on available-for-sale securities.

Note 2 - Significant Accounti32

Note 2 - Significant Accounting Policies: Recent Accounting Pronouncements (Policies)	9 Months Ended
	Dec. 31, 2015
Policies
Recent Accounting Pronouncements	Recent Accounting Pronouncements The Company has evaluated recent accounting pronouncements and their adoption has not had or is not expected to have a material impact on the Company’s financial position, results of operations or cash flows.

Note 2 - Significant Accounti33

Note 2 - Significant Accounting Policies: Property and Equipment Useful Lives (Policies)	9 Months Ended
	Dec. 31, 2015
Policies
Property and Equipment Useful Lives	Property and Equipment Useful Lives Property and equipment is stated at cost. Depreciation on property and equipment is computed using the straight-line method over the estimated useful life of the asset. Assets estimated useful lives are as follows: Assets Estimated useful life Furniture and fixtures 7 Years Machinery and equipment 7 Years Buildings 30 Years Vehicles 5 Years Computers 3 Years Software 2 Years

Note 2 - Significant Accounti34

Note 2 - Significant Accounting Policies: Basic and Diluted Earnings Per Share: Schedule of Earnings Per Share, Basic and Diluted (Tables)	9 Months Ended
	Dec. 31, 2015
Tables/Schedules
Schedule of Earnings Per Share, Basic and Diluted	For the Three Months Ended December 31, For the Nine Months Ended December 31, 2015 2014 2015 2014 Net income applicable to common shareholders $ 478,799 $ 1,917,150 $ 798,895 $ 6,216,057 Weighted average shares outstanding 53,255,275 52,884,358 53,239,087 51,112,924 Weighted average fully diluted shares outstanding 53,523,081 53,161,058 53,506,778 51,389,624 Basic earnings per share $ 0.01 $ 0.04 $ 0.02 $ 0.12 Fully diluted earnings per share $ 0.01 $ 0.04 $ 0.01 $ 0.12

Note 2 - Significant Accounti35

Note 2 - Significant Accounting Policies: Inventories: Schedule of Inventory, Current (Tables)	9 Months Ended
	Dec. 31, 2015
Tables/Schedules
Schedule of Inventory, Current	December 31, 2015 March 31, 2015 Raw materials $ 688,830 $ - Finished goods 10,400,207 11,951,108 Work in process - - Subtotal 11,089,037 11,951,108 Reserve for Obsolence (248,439) (184,573) Total $ 10,840,598 $ 11,766,535

Note 2 - Significant Accounti36

Note 2 - Significant Accounting Policies: Property and Equipment Useful Lives: Schedule Of Estimated Useful Lives Of Assets (Tables)	9 Months Ended
	Dec. 31, 2015
Tables/Schedules
Schedule Of Estimated Useful Lives Of Assets	Assets Estimated useful life Furniture and fixtures 7 Years Machinery and equipment 7 Years Buildings 30 Years Vehicles 5 Years Computers 3 Years Software 2 Years

Note 3 - Property and Equipme37

Note 3 - Property and Equipment: Property, Plant and Equipment (Tables)	9 Months Ended
	Dec. 31, 2015
Tables/Schedules
Property, Plant and Equipment	December 31, 2015 March 31, 2015 Office furniture and equipment $ 956,362 $ 937,274 Service and shop equipment 560,282 573,233 Vehicles 2,805,416 3,040,439 Land and buildings 6,655,361 6,746,597 Total property and equipment 10,977,421 11,297,543 Accumulated depreciation (2,527,929) (2,021,578) Net property and equipment $ 8,449,492 $ 9,275,965

Note 5 - Intangible Assets_ Sch

Note 5 - Intangible Assets: Schedule of Finite-Lived Intangible Assets (Tables)	9 Months Ended
	Dec. 31, 2015
Tables/Schedules
Schedule of Finite-Lived Intangible Assets	December 31, 2015 March 31, 2015 Distribution agreements $ 38,053 $ 41,638 Less: Accumulated amortization (38,053) (27,757) Distribution agreements, net 0 13,881 Patents, trademarks, copyrights, and domain names 530,211 580,138 Less: Accumulated amortization (28,721) - Patents, trademarks, copyrights, and domain names, net 501,490 580,138 Total definite-lived intangible assets, net $ 501,490 $ 594,019

Note 5 - Intangible Assets_ S39

Note 5 - Intangible Assets: Schedule of Indefinite-Lived Intangible Assets (Tables)	9 Months Ended
	Dec. 31, 2015
Tables/Schedules
Schedule of Indefinite-Lived Intangible Assets	December 31, 2015 March 31, 2015 Goodwill $ 997,701 $ 997,701

Note 5 - Intangible Assets_ Fin

Note 5 - Intangible Assets: Finite-lived Intangible Assets Amortization Expense (Tables)	9 Months Ended
	Dec. 31, 2015
Tables/Schedules
Finite-lived Intangible Assets Amortization Expense	Year Ending March 31, 2016 $ 27,581 2017 29,007 2018 29,007 2019 29,007 2020 29,007

Note 6 - Segment Information_ S

Note 6 - Segment Information: Schedule of Segment Reporting Information, by Segment (Tables)	9 Months Ended
	Dec. 31, 2015
Tables/Schedules
Schedule of Segment Reporting Information, by Segment	For the Three Months Ended December 31, For the Nine Months Ended December 31, Sales 2015 2014 2015 2014 Canada $ 1,906,031 $ 3,727,730 $ 5,244,284 $ 13,260,794 United States 5,648,224 8,788,969 17,284,508 28,121,671 Total $7,554,255 $ 12,516,699 $ 22,528,792 $ 41,382,465 Long-lived assets December 31, 2015 March 31, 2015 Canada $ 1,016,084 $ 1,231,434 United States 7,433,408 8,044,531 Total $ 8,449,492 $ 9,275,965

Note 7 - Stock Based Compensa42

Note 7 - Stock Based Compensation: Schedule of Share-based Compensation, Activity (Tables)	9 Months Ended
	Dec. 31, 2015
Tables/Schedules
Schedule of Share-based Compensation, Activity	Options Wtd. Avg. Fair Value Outstanding, March 31, 2014 3,074,850 1.47 Granted 133,900 4.03 Exercised (596,635) 0.55 Forfeited (498,615) 1.39 Expired - - Outstanding, March 31, 2015 2,113,500 1.90 Exercisable, March 31, 2015 907,000 2.27 Options Wtd. Avg. Fair Value Outstanding, March 31, 2015 2,113,500 1.90 Granted - - Exercised - - Forfeited (512,600) 1.52 Expired - - Outstanding, December 31, 2015 1,600,900 1.98 Exercisable, December 31, 2015 913,200 2.29

Note 7 - Stock Based Compensa43

Note 7 - Stock Based Compensation: Schedule of Share Based Compensation Arrangement by Share Based Payment Award Options Outstanding and Exercisable (Tables)	9 Months Ended
	Dec. 31, 2015
Tables/Schedules
Schedule of Share Based Compensation Arrangement by Share Based Payment Award Options Outstanding and Exercisable	The following table summarizes information about the Company’s outstanding stock options as of March 31, 2015: Outstanding Options (1 share/option) Average Remaining Life (Yrs) Exercisable Shares Weighted Average Exercise Price Strike Price $ 0.30 110,000 1.88 40,000 0.30 $ 1.37 1,118,000 4.08 284,000 1.37 $ 1.75 475,000 2.93 283,000 1.75 $ 3.85 200,000 4.61 200,000 3.85 $ 3.95 100,000 4.86 100,000 3.95 $ 4.03 110,500 5.09 - 4.03 2,113,500 4.02 907,000 2.27 The following table summarizes information about the Company’s outstanding stock options as of December 31, 2015: Outstanding Options (1 share/option) Average Remaining Life (Yrs) Exercisable Shares Weighted Average Exercise Price Strike Price $ 0.30 110,000 1.13 40,000 0.30 $ 1.37 744,000 3.33 346,500 1.37 $ 1.75 347,500 2.18 206,500 1.75 $ 3.85 200,000 3.85 200,000 3.85 $ 3.95 100,000 4.11 100,000 3.95 $ 4.03 99,400 4.34 20,200 4.03 1,600,900 3.16 913,200 2.29

Note 7 - Stock Based Compensa44

Note 7 - Stock Based Compensation: Schedule of Nonvested Share Activity (Tables)	9 Months Ended
	Dec. 31, 2015
Tables/Schedules
Schedule of Nonvested Share Activity	Non-vested options Options Wtd. Avg. Grant Date Fair Value Non-vested at March 31, 2015 1,206,500 1.58 Stock options issued during the period - - Stock options canceled (512,600) 1.52 Vested during the period ended December 31, 2015 (230,600) 1.62 Cancellation of previously vested stock options 224,400 1.52 Non-vested at December 31, 2015 687,700 2.97

Note 7 - Stock Based Compensa45

Note 7 - Stock Based Compensation: Schedule of Share-based Compensation Arrangement by Share-based Payment Award, Restricted Stock Units, Vested, Non-Vested and Expected to Vest (Tables)	9 Months Ended
	Dec. 31, 2015
Tables/Schedules
Schedule of Share-based Compensation Arrangement by Share-based Payment Award, Restricted Stock Units, Vested, Non-Vested and Expected to Vest	Non-vested restricted stock Options Wtd. Avg. Grant Date Fair Value Non-vested at March 31, 2015 171,666 4.03 Restricted stock issued during the period - - Restricted Stock canceled (20,000) 4.03 Vested & settled during the period ended December 31, 2015 (34,332) 4.03 Non-vested at December 31, 2015 117,334 4.03 Non-vested restricted stock units Restricted Stock Units Wtd. Avg. Grant Date Fair Value Non-vested at March 31, 2015 106,907 3.94 Restricted stock units issued during the period 528,334 1.05 Restricted stock units canceled (76,999) 1.68 Vested, not settled during the period ended December 31, 2015 (199,908) 1.68 Vested & settled during the period ended December 31, 2015 (52,001) 1.62 Non-vested at December 31, 2015 306,333 1.38

Note 2 - Significant Accounti46

Note 2 - Significant Accounting Policies (Details)	9 Months Ended
	Dec. 31, 2015
Details
Entity Incorporation, Date of Incorporation	May 5, 2003
Entity Incorporation, State Country Name	Nevada

Note 2 - Significant Accounti47

Note 2 - Significant Accounting Policies: Basic and Diluted Earnings Per Share (Details) - shares	Dec. 31, 2015	Dec. 31, 2014
Details
Fully Diluted Earnings (Loss) Per Share	267,691	696,219

Note 2 - Significant Accounti48

Note 2 - Significant Accounting Policies: Basic and Diluted Earnings Per Share: Schedule of Earnings Per Share, Basic and Diluted (Details) - USD ($)	3 Months Ended		9 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2015	Dec. 31, 2014
Details
Net income applicable to common shareholders	$ 478,799	$ 1,917,150	$ 798,895	$ 6,216,057
BASIC WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING	53,255,275	52,884,358	53,239,087	51,112,924
FULLY DILUTED WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING	53,523,081	53,161,058	53,506,778	51,389,624
BASIC EARNINGS PER SHARE	$ 0.01	$ 0.04	$ 0.02	$ 0.12
FULLY DILUTED EARNINGS PER SHARE	$ 0.01	$ 0.04	$ 0.01	$ 0.12

Note 2 - Significant Accounti49

Note 2 - Significant Accounting Policies: Foreign Currency and Comprehensive Income (Details)	9 Months Ended
	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)	Mar. 31, 2015
Details
Foreign Currency Exchange Rate, Translation	0.720900		0.788786
Weighted Average Exchange Rate	0.775800	0.918000
Foreign Currency Transaction Gain (Loss), Realized	$ 428,112	$ 0

Note 2 - Significant Accounti50

Note 2 - Significant Accounting Policies: Cash and Cash Equivalents (Details) - USD ($)	Dec. 31, 2015	Mar. 31, 2015	Dec. 31, 2014	Mar. 31, 2014
Details
Cash and cash equivalents	$ 19,281,501	$ 14,144,796	$ 15,385,607	$ 4,456,674
Cash, FDIC Insured Amount	250,000
Cash, Guaranteed by the Province of Alberta, Canada	$ 72,090

Note 2 - Significant Accounti51

Note 2 - Significant Accounting Policies: Accounts Receivable (Details) - USD ($)	Dec. 31, 2015	Mar. 31, 2015
Details
Allowance for Doubtful Accounts Receivable	$ 211,068	$ 108,641

Note 2 - Significant Accounti52

Note 2 - Significant Accounting Policies: Inventories: Schedule of Inventory, Current (Details) - USD ($)	Dec. 31, 2015	Mar. 31, 2015
Details
Inventory, Raw Materials, Gross	$ 688,830
Inventory, Finished Goods, Gross	10,400,207	$ 11,951,108
Subtotal	11,089,037	11,951,108
Reserves for obsolescence	(248,439)	(184,573)
Inventories	$ 10,840,598	$ 11,766,535

Note 2 - Significant Accounti53

Note 2 - Significant Accounting Policies: Advertising Costs (Details) - USD ($)	9 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Details
Advertising Expense	$ 64,632	$ 172,464

Note 2 - Significant Accounti54

Note 2 - Significant Accounting Policies: Research and Development (Details) - USD ($)	3 Months Ended		9 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2015	Dec. 31, 2014
Details
Research and development	$ 348,874	$ 521,814	$ 948,508	$ 1,331,834

Note 2 - Significant Accounti55

Note 2 - Significant Accounting Policies: Shipping and Handling Fees and Costs (Details) - USD ($)	9 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Details
Shipping, Handling and Transportation Costs	$ 208,881	$ 420,290

Note 2 - Significant Accounti56

Note 2 - Significant Accounting Policies: Property and Equipment Useful Lives: Schedule Of Estimated Useful Lives Of Assets (Details)	9 Months Ended
	Dec. 31, 2015
Furniture and Fixtures
Property, Plant and Equipment, Useful Life	7 years
Machinery and Equipment
Property, Plant and Equipment, Useful Life	7 years
Building
Property, Plant and Equipment, Useful Life	30 years
Vehicles
Property, Plant and Equipment, Useful Life	5 years
Computer Equipment
Property, Plant and Equipment, Useful Life	3 years
Software and Software Development Costs
Property, Plant and Equipment, Useful Life	2 years

Note 3 - Property and Equipme57

Note 3 - Property and Equipment: Property, Plant and Equipment (Details) - USD ($)	Dec. 31, 2015	Mar. 31, 2015
Details
Office furniture and equipment	$ 956,362	$ 937,274
Service and shop equipment	560,282	573,233
Vehicles	2,805,416	3,040,439
Land and buildings	6,655,361	6,746,597
Total property and equipment	10,977,421	11,297,543
Accumulated depreciation	(2,527,929)	(2,021,578)
PROPERTY AND EQUIPMENT, net	$ 8,449,492	$ 9,275,965

Note 4 - Stockholders' Equity (

Note 4 - Stockholders' Equity (Details) - $ / shares	9 Months Ended
	Dec. 31, 2015	Mar. 31, 2015
Preferred stock par value	$ 0.001	$ 0.001
Common stock par value	$ 0.001	$ 0.001
Preferred stock shares authorized	10,000,000	10,000,000
Common stock shares authorized	100,000,000	100,000,000
Common stock shares issued	53,255,275	53,199,136
Common stock shares outstanding	53,255,275	53,199,136
Common stock
StockIssuanceShares	4,500,000

Note 5 - Intangible Assets_ S59

Note 5 - Intangible Assets: Schedule of Finite-Lived Intangible Assets (Details) - USD ($)	Dec. 31, 2015	Mar. 31, 2015
Details
Distribution Agreements, Gross	$ 38,053	$ 41,638
Accumulated Amortization of Other Deferred Costs	(38,053)	(27,757)
Distribution Agreements, Net	0	13,881
Other Finite-Lived Intangible Assets, Gross	530,211	580,138
Finite-Lived Intangible Assets, Accumulated Amortization	(28,721)
Other Finite Lived Intangible Assets, Net	501,490	580,138
Intangible assets, net of accumulated amortization	$ 501,490	$ 594,019

Note 5 - Intangible Assets_ S60

Note 5 - Intangible Assets: Schedule of Indefinite-Lived Intangible Assets (Details) - USD ($)	Dec. 31, 2015	Mar. 31, 2015
Details
Goodwill	$ 997,701	$ 997,701

Note 5 - Intangible Assets_ F61

Note 5 - Intangible Assets: Finite-lived Intangible Assets Amortization Expense (Details)	Dec. 31, 2015USD ($)
Details
Finite-Lived Intangible Assets, Amortization Expense, Remainder of Fiscal Year	$ 27,581
Finite-Lived Intangible Assets, Amortization Expense, Year Two	29,007
Finite-Lived Intangible Assets, Amortization Expense, Year Three	29,007
Finite-Lived Intangible Assets, Amortization Expense, Year Four	29,007
Finite-Lived Intangible Assets, Amortization Expense, Year Five	$ 29,007

Note 6 - Segment Information_62

Note 6 - Segment Information: Schedule of Segment Reporting Information, by Segment (Details) - USD ($)	3 Months Ended		9 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Mar. 31, 2015
Total Revenues	$ 7,554,255	$ 12,516,699	$ 22,528,792	$ 41,382,465
PROPERTY AND EQUIPMENT, net	8,449,492		8,449,492		$ 9,275,965
CANADA
Total Revenues	1,906,031	3,727,730	5,244,284	13,260,794
PROPERTY AND EQUIPMENT, net	1,016,084		1,016,084		1,231,434
UNITED STATES
Total Revenues	5,648,224	$ 8,788,969	17,284,508	$ 28,121,671
PROPERTY AND EQUIPMENT, net	$ 7,433,408		$ 7,433,408		$ 8,044,531

Note 7 - Stock Based Compensa63

Note 7 - Stock Based Compensation (Details) - USD ($)	9 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Details
Stock options issued for services	$ 666,450	$ 1,031,300
Remaining Compensation Expense Arising From Equity Awards Issued	$ 1,513,347

Note 7 - Stock Based Compensa64

Note 7 - Stock Based Compensation: Schedule of Share-based Compensation, Activity (Details) - $ / shares	9 Months Ended	12 Months Ended
	Dec. 31, 2015	Mar. 31, 2015	Mar. 31, 2014
Details
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number	1,600,900	2,113,500	3,074,850
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Outstanding Weighted Average Grant Date Fair Value	$ 1.98	$ 1.90	$ 1.47
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Net of Forfeitures		133,900
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value		$ 4.03
Exercised options - shares		(596,635)
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Exercised In Period Weighted Average Grant Date Fair Value		$ 0.55
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures in Period	(512,600)	(498,615)
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeitures, Weighted Average Grant Date Fair Value	$ 1.52	$ 1.39
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number	913,200	907,000
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Exercisable Weighted Average Grant Date Fair Value	$ 2.29	$ 2.27

Note 7 - Stock Based Compensa65

Note 7 - Stock Based Compensation: Schedule of Share Based Compensation Arrangement by Share Based Payment Award Options Outstanding and Exercisable (Details) - $ / shares	9 Months Ended	12 Months Ended
	Dec. 31, 2015	Mar. 31, 2015
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Number of Outstanding Options	1,600,900	2,113,500
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Outstanding Options, Weighted Average Remaining Contractual Term	3 years 1 month 28 days	4 years 7 days
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Number of Exercisable Options	913,200	907,000
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding and Exercisable Weighted Average Exercise Price	$ 2.29	$ 2.27
ExercisableOptions1Member
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Number of Exercisable Options	40,000	40,000
ExercisableOptions2Member
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Number of Exercisable Options	346,500	284,000
ExercisableOptions3Member
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Number of Exercisable Options	206,500	283,000
ExercisableOptions4Member
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Number of Exercisable Options	200,000	200,000
ExercisableOptions5Member
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Number of Exercisable Options	100,000	100,000
ExercisableOptions6Member
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Number of Exercisable Options	20,200
OutstandingOptions1Member
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Number of Outstanding Options	110,000	110,000
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Outstanding Options, Weighted Average Remaining Contractual Term	1 year 1 month 17 days	1 year 10 months 17 days
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding and Exercisable Weighted Average Exercise Price	$ 0.30	$ 0.30
OutstandingOptions2Member
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Number of Outstanding Options	744,000	1,118,000
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Outstanding Options, Weighted Average Remaining Contractual Term	3 years 3 months 29 days	4 years 29 days
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding and Exercisable Weighted Average Exercise Price	$ 1.37	$ 1.37
OutstandingOptions3Member
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Number of Outstanding Options	347,500	475,000
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Outstanding Options, Weighted Average Remaining Contractual Term	2 years 2 months 5 days	2 years 11 months 5 days
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding and Exercisable Weighted Average Exercise Price	$ 1.75	$ 1.75
OutstandingOptions4Member
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Number of Outstanding Options	200,000	200,000
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Outstanding Options, Weighted Average Remaining Contractual Term	3 years 10 months 6 days	4 years 7 months 10 days
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding and Exercisable Weighted Average Exercise Price	$ 3.85	$ 3.85
OutstandingOptions5Member
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Number of Outstanding Options	100,000	100,000
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Outstanding Options, Weighted Average Remaining Contractual Term	4 years 1 month 10 days	4 years 10 months 10 days
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding and Exercisable Weighted Average Exercise Price	$ 3.95	$ 3.95
OutstandingOptions6Member
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Number of Outstanding Options	99,400	110,500
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Outstanding Options, Weighted Average Remaining Contractual Term	4 years 4 months 2 days	5 years 1 month 2 days
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding and Exercisable Weighted Average Exercise Price	$ 4.03	$ 4.03

Note 7 - Stock Based Compensa66

Note 7 - Stock Based Compensation: Schedule of Nonvested Share Activity (Details) - $ / shares	9 Months Ended	12 Months Ended
	Dec. 31, 2015	Mar. 31, 2015
Details
Share-based Compensation Arrangement by Share-based Payment Award, Options, Nonvested, Number of Shares	687,700	1,206,500
Share-based Compensation Arrangement by Share-based Payment Award, Options, Nonvested, Weighted Average Grant Date Fair Value	$ 2.97	$ 1.58
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Net of Forfeitures		133,900
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value		$ 4.03
Share-based Compensation Arrangement by Share-based Payment Award, Options, Nonvested Options Forfeited, Number of Shares	(512,600)
Share-based Compensation Arrangement by Share-based Payment Award, Options, Nonvested Options Forfeited, Weighted Average Grant Date Fair Value	$ 1.52
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested, Number of Shares	(230,600)
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested, Weighted Average Grant Date Fair Value	$ 1.62
Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Cancellation of Previously Vested Stock Options	224,400
Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested, Cancellation of Previously Vested Stock Options, Weighted Average Grant Date Fair Value	$ 1.52

Note 7 - Stock Based Compensa67

Note 7 - Stock Based Compensation: Schedule of Share-based Compensation Arrangement by Share-based Payment Award, Restricted Stock Units, Vested, Non-Vested and Expected to Vest (Details) - $ / shares	9 Months Ended
	Dec. 31, 2015	Mar. 31, 2015
Details
Nonvested Restricted Stock options	117,334	171,666
Nonvested Restricted Stock options, Weighted average grant date fair value	$ 4.03	$ 4.03
Nonvested Restricted Stock options canceled during the period	(20,000)
Nonvested Restricted Stock options canceled during the period, Weighted average grant date fair value	$ 4.03
Vested & Settled Restricted Stock options during the period	(34,332)
Vested & Settled Restricted Stock options during the period, Weighted average grant date fair value	$ 4.03
Nonvested Restricted Stock units	306,333	106,907
Nonvested Restricted Stock units, Weighted average grant date fair value	$ 1.38	$ 3.94
Restricted Stock units issued during the period	528,334
Restricted Stock units issued during the period, Weighted average grant date fair value	$ 1.05
Restricted Stock units canceled during the period	(76,999)
Restricted Stock units canceled during the period, Weighted average grant date fair value	$ 1.68
Vested, Not Settled Restricted Stock units	(199,908)
Vested, Not Settled Restricted Stock units, Weighted average grant date fair value	$ 1.68
Vested & Settled Restricted Stock units	(52,001)
Vested & Settled Restricted Stock units, Weighted average grant date fair value	$ 1.62