Castle Brands (ROX) 10-Q 14 Aug 14 2015 Q1 Quarterly report Financial data

Document_And_Entity_Informatio

Document And Entity Information	3 Months Ended
	Jun. 30, 2014	Aug. 12, 2014
Document Information [Line Items]	'	'
Entity Registrant Name	'Castle Brands Inc	'
Entity Central Index Key	'0001311538	'
Current Fiscal Year End Date	'--03-31	'
Entity Filer Category	'Smaller Reporting Company	'
Trading Symbol	'ROX	'
Entity Common Stock, Shares Outstanding	'	155,048,709
Document Type	'10-Q	'
Amendment Flag	'false	'
Document Period End Date	30-Jun-14	'
Document Fiscal Period Focus	'Q1	'
Document Fiscal Year Focus	'2015	'

Condensed_Consolidated_Balance

Condensed Consolidated Balance Sheets(USD ($))	Jun. 30, 2014	Mar. 31, 2014
Current Assets	'	'
Cash and cash equivalents	$784,436	$908,501
Accounts receivable — net of allowance for doubtful accounts of $112,253 and $204,418, respectively	7,168,163	8,858,146
Due from shareholders and affiliates	141,842	115,288
Inventories— net of allowance for obsolete and slow moving inventory of $294,196 and $266,473, respectively	19,548,540	14,650,029
Deferred tax assets	293,330	473,330
Prepaid expenses and other current assets	1,921,274	1,575,947
Total Current Assets	29,857,585	26,581,241
Equipment - net	588,085	568,395
Intangible assets — net of accumulated amortization of $6,220,366 and $6,058,005, respectively	8,021,527	8,178,888
Goodwill	496,226	496,226
Restricted cash	413,623	416,565
Other assets	237,958	280,195
Total Assets	39,615,004	36,521,510
Current Liabilities	'	'
Foreign revolving credit facility	125,855	20,205
Accounts payable	3,883,271	4,483,764
Accrued expenses	589,979	1,073,188
Due to shareholders and affiliates	1,993,677	1,936,241
Total Current Liabilities	6,592,782	7,513,398
Long-Term Liabilities	'	'
Keltic facility	5,414,425	1,953,037
Bourbon term loan (including $421,563 and $484,375 of related-party participation at June 30 and March 31, 2014, respectively)	1,753,700	2,015,000
Notes payable - Junior loan (including $300,000 of related party participation at each of June 30 and March 31, 2014)	1,250,000	1,250,000
Notes payable - 5% Convertible notes (including $1,100,000 of related party participation at each of June 30 and March 31, 2014)	2,125,000	2,125,000
Notes payable - GCP Note	214,225	211,580
Deferred tax liability	1,481,266	1,518,304
Total Liabilities	18,831,398	16,586,319
Commitments and Contingencies (Note 13)	'	'
Equity	'	'
Preferred stock, $.01 par value, 25,000,000 shares authorized in, none issued	0	0
Common stock, $.01 par value, 300,000,000 shares authorized, 154,948,409 and 151,841,133 shares issued and outstanding at June 30 and March 31, 2014, respectively	1,549,484	1,518,411
Additional paid-in capital	159,514,479	157,485,965
Accumulated deficit	-141,057,800	-139,561,969
Accumulated other comprehensive loss	-1,745,593	-1,724,916
Total controlling shareholders’ equity	18,260,570	17,717,491
Noncontrolling interests	2,523,036	2,217,700
Total equity	20,783,606	19,935,191
Total Liabilities and Equity	$39,615,004	$36,521,510

Condensed_Consolidated_Balance1

Condensed Consolidated Balance Sheets [Parenthetical] (USD $)	Jun. 30, 2014	Mar. 31, 2014
Allowance for doubtful accounts receivable (in dollars)	$112,253	$204,418
Allowance for obsolete and slow moving inventory (in dollars)	294,196	266,473
Accumulated amortization of Intangible assets (in dollars)	6,220,366	6,058,005
Term Loan Related Party Participation (in dollars)	421,563	484,375
Notes Payable, Related Parties, Noncurrent (in dollars)	300,000	300,000
Convertible Notes Payable Related Parties Classified Non Current (in dollars)	$1,100,000	$1,100,000
Preferred stock, par value (in dollars per share)	$0.01	$0.01
Preferred stock, shares authorized	25,000,000	25,000,000
Common stock, par value (in dollars per share)	$0.01	$0.01
Common stock, shares authorized	300,000,000	300,000,000
Common Stock, Shares, Issued	154,948,409	151,841,133
Common stock, shares outstanding	154,948,409	151,841,133
Convertible Notes Payable [Member]	'	'
Debt Instrument, Interest Rate, Stated Percentage	5.00%	5.00%

Condensed_Consolidated_Stateme

Condensed Consolidated Statements of Operations (USD $)	3 Months Ended
	Jun. 30, 2014		Jun. 30, 2013
Sales, net	$11,982,199	[1]	$10,418,617	[1]
Cost of sales	7,435,545	[1]	6,500,153	[1]
Gross profit	4,546,654		3,918,464
Selling expense	3,239,326		2,895,383
General and administrative expense	1,610,616		1,265,605
Depreciation and amortization	216,098		213,124
Loss from operations	-519,386		-455,648
Other income, net	16,942		0
Loss from equity investment in non-consolidated affiliate	0		-6,121
Foreign exchange (loss) gain	-236,447		60,340
Interest expense, net	-288,642		-228,819
Net change in fair value of warrant liability	0		-447,251
Income tax (expense) benefit, net	-162,962		37,038
Net loss	-1,190,495		-1,040,461
Net income attributable to noncontrolling interests	-305,336		-252,372
Net loss attributable to controlling interests	-1,495,831		-1,292,833
Dividend to preferred shareholders	0		-189,932
Net loss attributable to common shareholders	($1,495,831)		($1,482,765)
Net loss per common share, basic and diluted, attributable to common shareholders (in dollars per share)	($0.01)		($0.01)
Weighted average shares used in computation, basic and diluted, attributable to common shareholders (in shares)	153,929,182		109,424,026
[1]	Sales, net and Cost of sales include excise taxes of $1,485,515 and $1,424,220 for the three months ended June 30, 2014 and 2013, respectively.

Condensed_Consolidated_Stateme1

Condensed Consolidated Statements of Operations [Parenthetical] (USD $)	3 Months Ended
	Jun. 30, 2014	Jun. 30, 2013
Excise taxes	$1,485,515	$1,424,220

Condensed_Consolidated_Stateme2

Condensed Consolidated Statements of Comprehensive Loss (USD $)	3 Months Ended
	Jun. 30, 2014	Jun. 30, 2013
Net loss	($1,190,495)	($1,040,461)
Other comprehensive (loss) income:	'	'
Foreign currency translation adjustment	-20,677	40,200
Total other comprehensive (loss) income:	-20,677	40,200
Comprehensive loss	($1,211,172)	($1,000,261)

Condensed_Consolidated_Stateme3

Condensed Consolidated Statement of Changes in Equity (USD $)	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Accumulated Deficit [Member]	Accumulated Other Comprehensive (Loss) Income [Member]	Noncontrolling Interests [Member]
BALANCE at Mar. 31, 2014	$19,935,191	$1,518,411	$157,485,965	($139,561,969)	($1,724,916)	$2,217,700
BALANCE (in shares) at Mar. 31, 2014	'	151,841,133	'	'	'	'
Net loss	-1,190,495	'	'	-1,495,831	'	305,336
Foreign currency translation adjustment	-20,677	'	'	'	-20,677	'
Issuance of common stock, net of issuance costs	1,192,709	12,474	1,180,235	'	'	'
Issuance of common stock, net of issuance costs (in shares)	'	1,247,343	'	'	'	'
Exercise of common stock warrants	629,965	16,578	613,387	'	'	'
Exercise of common stock warrants (in shares)	'	1,657,802	'	'	'	'
Surrender of common stock in connection with exercise of common stock warrants	-31,250	-279	-30,971	'	'	'
Surrender of common stock in connection with exercise of common stock warrants (in shares)	'	-27,902	'	'	'	'
Exercise of common stock options	76,707	2,300	74,407	'	'	'
Exercise of common stock options (in shares)	230,033	230,033	'	'	'	'
Stock-based compensation	191,456	'	191,456	'	'	'
BALANCE at Jun. 30, 2014	$20,783,606	$1,549,484	$159,514,479	($141,057,800)	($1,745,593)	$2,523,036
BALANCE (in shares) at Jun. 30, 2014	'	154,948,409	'	'	'	'

Condensed_Consolidated_Stateme4

Condensed Consolidated Statements of Cash Flows (USD $)	3 Months Ended
	Jun. 30, 2014	Jun. 30, 2013
CASH FLOWS FROM OPERATING ACTIVITIES:	'	'
Net loss	($1,190,495)	($1,040,461)
Adjustments to reconcile net loss to net cash used in operating activities:	'	'
Depreciation and amortization	216,098	213,124
Provision for doubtful accounts	-92,165	10,500
Amortization of deferred financing costs	48,050	30,392
Change in fair value of warrant liability	0	447,251
Income tax expense (benefit), net	162,962	-37,038
Loss from equity investment in non-consolidated affiliate	0	6,121
Effect of changes in foreign exchange	236,447	-60,340
Stock-based compensation expense	191,456	72,533
Changes in operations, assets and liabilities:	'	'
Accounts receivable	1,780,782	367,348
Due from affiliates	-26,555	-71,845
Inventory	-5,150,717	-547,749
Prepaid expenses and supplies	-345,426	-344,373
Other assets	-5,813	-15,517
Accounts payable and accrued expenses	-1,101,226	571,697
Accrued interest	2,645	545
Due to related parties	57,438	424,772
Total adjustments	-4,026,024	1,067,421
NET CASH (USED IN) PROVIDED BY OPERATING ACTIVITIES	-5,216,519	26,960
CASH FLOWS FROM INVESTING ACTIVITIES:	'	'
Purchase of equipment	-76,660	-34,999
Acquisition of intangible assets	-5,000	-26,981
Change in restricted cash	-282	-251
Payments under contingent consideration agreements	0	-5,940
NET CASH USED IN INVESTING ACTIVITIES	-81,942	-68,171
CASH FLOWS FROM FINANCING ACTIVITIES:	'	'
Net proceeds from (payments on) Keltic facility	3,461,388	-19,256
Payments on Bourbon term loan	-261,300	0
Net proceeds from (payments on) foreign revolving credit facility	106,347	-91,080
Proceeds from issuance of common stock	1,231,241	0
Payments for costs of stock issuance	-38,532	0
Proceeds from exercise of common stock warrants	598,715	0
Proceeds from exercise of common stock options	76,707	0
NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES	5,174,566	-110,336
EFFECTS OF FOREIGN CURRENCY TRANSLATION	-170	640
NET DECREASE IN CASH AND CASH EQUIVALENTS	-124,065	-150,907
CASH AND CASH EQUIVALENTS - BEGINNING	908,501	439,323
CASH AND CASH EQUIVALENTS - ENDING	784,436	288,416
Schedule of non-cash investing and financing activities:	'	'
Conversion of series A preferred stock to common stock	0	319,043
Interest paid	219,765	179,866
Income taxes paid	$35,000	$0

ORGANIZATION_AND_SUMMARY_OF_SI

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
	Jun. 30, 2014
Organization, Consolidation and Presentation Of Financial Statements [Abstract]	'
Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies [Text Block]	'
	NOTE 1 —  ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
	Basis of Presentation
	The accompanying unaudited condensed consolidated financial statements do not include all of the information and footnote disclosures normally included in financial statements prepared in accordance with the rules and regulations of the Securities and Exchange Commission (“SEC”) and U.S. generally accepted accounting principles (“GAAP”) and, in the opinion of management, contain all adjustments (which consist of only normal recurring adjustments) necessary for a fair presentation of such financial information. Results of operations for interim periods are not necessarily indicative of those to be achieved for full fiscal years. The condensed consolidated balance sheet as of March 31, 2014 is derived from the March 31, 2014 audited financial statements. These unaudited condensed consolidated financial statements should be read in conjunction with Castle Brands Inc.’s (the “Company”) audited consolidated financial statements for the fiscal year ended March 31, 2014 included in the Company’s annual report on Form 10-K for the year ended March 31, 2014, as amended (“2014 Form 10-K”). Please refer to the notes to the audited consolidated financial statements included in the 2014 Form 10-K for additional disclosures and a description of accounting policies.
		A.	Description of business — The consolidated financial statements include the accounts of the Company, its wholly-owned domestic subsidiaries, Castle Brands (USA) Corp. (“CB-USA”) and McLain & Kyne, Ltd. (“McLain & Kyne”), the Company’s wholly-owned foreign subsidiaries, Castle Brands Spirits Group Limited (“CB-IRL”) and Castle Brands Spirits Marketing and Sales Company Limited, and the Company’s 60% ownership interest in Gosling-Castle Partners, Inc. (“GCP”), with adjustments for income or loss allocated based upon percentage of ownership. The accounts of the subsidiaries have been included as of the date of acquisition. All significant intercompany transactions and balances have been eliminated.
		B.	Organization and operations — The Company is principally engaged in the importation, marketing and sale of premium and super premium brands of rums, whiskey, liqueurs, vodka and tequila in the United States, Canada, Europe and Asia.
		C.	Equity investments  — Equity investments are carried at original cost adjusted for the Company’s proportionate share of the investees’ income, losses and distributions. The Company assesses the carrying value of its equity investments when an indicator of a loss in value is present and records a loss in value of the investment when the assessment indicates that an other-than-temporary decline in the investment exists. The Company classifies its equity earnings of non-consolidated affiliate equity investment as a component of net income or loss.
		D.	Goodwill and other intangible assets — Goodwill represents the excess of purchase price including related costs over the value assigned to the net tangible and identifiable intangible assets of businesses acquired. Goodwill and other identifiable intangible assets with indefinite lives are not amortized, but instead are tested for impairment annually, or more frequently if circumstances indicate a possible impairment may exist. Intangible assets with estimable useful lives are amortized over their respective estimated useful lives, generally on a straight-line basis, and are reviewed for impairment whenever events or changes in circumstances indicate that the carrying value may not be recoverable.
		E.	Impairment of long-lived assets — Under Financial Accounting Standards Board ("FASB") Accounting Standards Codification ("ASC") 310, “Accounting for the Impairment or Disposal of Long-lived Assets”, the Company periodically reviews whether changes have occurred that would require revisions to the carrying amounts of its definite lived, long-lived assets. When the sum of the expected future cash flows is less than the carrying amount of the asset, an impairment loss is recognized based on the fair value of the asset.
		F.	Excise taxes and duty — Excise taxes and duty are computed at standard rates based on alcohol proof per gallon/liter and are paid after finished goods are imported into the United States and then transferred out of “bond,” or sold by CB-IRL in Ireland “tax paid.” Excise taxes and duty are recorded to inventory as a component of the cost of the underlying finished goods. When the underlying products are sold “ex warehouse”, the sales price reflects the taxes paid and the inventoried excise taxes and duties are charged to cost of sales.
		G.	Foreign currency — The functional currency for the Company’s foreign operations is the Euro in Ireland and the British Pound in the United Kingdom. Under ASC 830, “Foreign Currency Matters”, the translation from the applicable foreign currencies to U.S. Dollars is performed for balance sheet accounts using exchange rates in effect at the balance sheet date and for revenue and expense accounts using a weighted average exchange rate during the period. The resulting translation adjustments are recorded as a component of other comprehensive income. Gains or losses resulting from foreign currency transactions are shown as a separate line item in the consolidated statements of operations.
		H.	Fair value of financial instruments — ASC 825, “Financial Instruments”, defines the fair value of a financial instrument as the amount at which the instrument could be exchanged in a current transaction between willing parties and requires disclosure of the fair value of certain financial instruments. The Company believes that there is no material difference between the fair-value and the reported amounts of financial instruments in the Company’s balance sheets due to the short term maturity of these instruments, or with respect to the Company’s debt, as compared to the current borrowing rates available to the Company.
	The Company’s investments are reported at fair value in accordance with authoritative guidance, which accomplishes the following key objectives:
		-	Defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date;
		-	Establishes a three-level hierarchy (“valuation hierarchy”) for fair value measurements;
		-	Requires consideration of the Company’s creditworthiness when valuing liabilities; and
		-	Expands disclosures about instruments measured at fair value.
	The valuation hierarchy is based upon the transparency of inputs to the valuation of an asset or liability as of the measurement date. A financial instrument’s categorization within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement. The three levels of the valuation hierarchy are as follows:
		-	Level 1 — inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets.
		-	Level 2 — inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are directly or indirectly observable for the asset or liability for substantially the full term of the financial instrument.
		-	Level 3 — inputs to the valuation methodology are unobservable and significant to the fair value measurement.
		I.	Income taxes — Under ASC 740, “Income Taxes”, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis. A valuation allowance is provided to the extent a deferred tax asset is not considered recoverable.
	The Company has not recognized any adjustments for uncertain tax positions. The Company recognizes interest and penalties related to uncertain tax positions in general and administrative expense; however, no such provisions for accrued interest and penalties related to uncertain tax positions have been recorded by the Company.
	The Company’s income tax benefit for the three months ended June 30, 2014 and 2013 consists of federal, state and local taxes attributable to GCP, which does not file a consolidated income tax return with the Company. In connection with the investment in GCP, the Company recorded a deferred tax liability on the ascribed value of the acquired intangible assets of $2,222,222, increasing the value of the asset. The difference between the book basis and tax basis created a deferred tax liability that is being amortized over a period of 15 years (the life of the licensing agreement) on a straight-line basis. For the three months ended June 30, 2014, the Company recognized ($162,962) of deferred tax expense, net and for the three months ended June 30, 2013, the Company recognized $37,038 of deferred tax benefits, respectively.
		J.	Recent accounting pronouncements — In May 2014, the FASB issued (Accounting Standards Update (“ASU”) No. 2014-09), Revenue from Contracts with Customers, to clarify the principles for recognizing revenue. This guidance includes the required steps to achieve the core principle that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. This guidance is effective for fiscal years and interim periods beginning after December 15, 2016. The Company is currently evaluating the new guidance to determine the impact the adoption of this guidance will have on the Company’s results of operations, cash flows or financial condition.
	In April 2014, the FASB issued ASU No. 2014-08 which provides final guidance to change the criteria for reporting discontinued operations while enhancing disclosures in this area. Under the new guidance, only disposals representing a strategic shift, such as a major line of business, a major geographical area or a major equity investment, should be presented as discontinued operations. The guidance will be applied prospectively to new disposals and new classifications of disposal groups as held for sale after the effective date. The guidance is effective for annual financial statements with fiscal years beginning on or after December 15, 2014 with early adoption permitted for disposals or classifications as held for sale which have not been reported in financial statements previously issued or available for issuance. The Company will adopt the guidance effective April 1, 2015 and the adoption of this guidance is not expected to have a material impact on the Company’s results of operations, cash flows or financial condition.
	In March 2014, the Emerging Issues Task Force (the “Task Force”) reached a final consensus to amend the accounting guidance for stock compensation tied to performance targets (Issue No. 13-D). The objective of this guidance is to clarify the accounting treatment of certain types of performance conditions in stock-based compensation awards, more specifically, when performance targets can be achieved after the requisite service period. The Task Force concluded that performance criteria subsequent to a service period vesting requirement should be treated as vesting conditions, and as a result, this type of performance condition may delay expense recognition until achievement of the performance target is probable. Issue No. 13-D will be effective for all entities for reporting periods (including interim periods) beginning after December 15, 2015, and early adoption is permitted. The adoption of this guidance is not expected have a material impact on the Company’s results of operations, cash flows or financial condition.

BASIC_AND_DILUTED_NET_LOSS_PER

BASIC AND DILUTED NET LOSS PER COMMON SHARE	3 Months Ended
	Jun. 30, 2014
Earnings Per Share [Abstract]	'
Earnings Per Share [Text Block]	'
	NOTE 2 —  BASIC AND DILUTED NET LOSS PER COMMON SHARE
	Basic net loss per common share is computed by dividing net loss by the weighted average number of common shares outstanding during the period. Diluted net loss per common share is computed giving effect to all potentially dilutive common shares that were outstanding during the period that are not anti-dilutive. Potentially dilutive common shares consist of incremental shares issuable upon exercise of stock options and warrants or conversion of convertible preferred stock outstanding and related accrued dividends or conversion of convertible notes outstanding. In computing diluted net loss per share for the three months ended June 30, 2014 and 2013, no adjustment has been made to the weighted average outstanding common shares as the assumed exercise of outstanding options and warrants and the assumed conversion of convertible preferred stock and related accrued dividends or the assumed conversion of convertible notes is anti-dilutive.
	Potential common shares not included in calculating diluted net loss per share are as follows:
		Three months ended June 30,
		2014		2013
	Stock options		13,242,974		10,040,765
	Warrants to purchase common stock		120,000		11,874,087
	Convertible preferred stock and accrued dividends		—		25,615,876
	5% Convertible notes		2,361,111		—
	Total		15,724,085		47,530,728

INVENTORIES

INVENTORIES	3 Months Ended
	Jun. 30, 2014
Inventory Disclosure [Abstract]	'
Inventory Disclosure [Text Block]	'
	NOTE 3 —  INVENTORIES
		June 30,		March 31,
		2014		2014
	Raw materials	$	9,050,528	$	4,502,234
	Finished goods – net		10,498,012		10,147,795
	Total	$	19,548,540	$	14,650,029
	As of June 30 and March 31, 2014, 12% and 19%, respectively, of raw materials and 6% and 5%, respectively, of finished goods were located outside of the United States.
	In March and October 2013 and April 2014, the Company acquired $2,496,000, $847,500 and $4,237,500 of aged bourbon whiskey, respectively, in support of its anticipated near and mid-term needs.
	The Company estimates the allowance for obsolete and slow moving inventory based on analyses and assumptions including, but not limited to, historical usage, expected future demand and market requirements.
	Inventories are stated at the lower of weighted average cost or market.

EQUITY_INVESTMENT

EQUITY INVESTMENT	3 Months Ended
	Jun. 30, 2014
Equity Method Investments and Joint Ventures [Abstract]	'
Cost and Equity Method Investments Disclosure [Text Block]	'
	NOTE 4 —  EQUITY INVESTMENT
	Discontinuation of Investment in DP Castle Partners, LLC
	In August 2010, CB-USA formed DP Castle Partners, LLC (“DPCP”) with Drink Pie, LLC to manage the manufacturing and marketing of Travis Hasse’s Original Apple Pie Liqueur, Cherry Pie Liqueur and any future line extensions of the brand. DPCP paid a per case royalty fee to Drink Pie, LLC under a licensing agreement. CB-USA purchased the finished product from DPCP FOB – Production and CB-USA bore the risk of loss on both inventory and third-party receivables. Revenues and cost of sales were recorded at their respective gross amounts on the books and records of CB-USA. In December 2013, CB-USA determined to cease marketing and selling these brands and returned the remaining inventory to Drink Pie, LLC. For the three months ended June 30, 2013, CB-USA purchased $170,880 in finished goods from DPCP under the distribution agreement. At June 30 and March 31, 2014, CB-USA owned 20% of now inactive DPCP. CB-USA also earned a defined rate of interest on its capital contribution to DPCP, based on its ownership in DPCP. For the three months ended June 30, 2013, CB-USA earned $2,100 in interest income on its capital contribution to DPCP. The Company accounted for this investment under the equity method of accounting.

ACQUISITIONS

ACQUISITIONS	3 Months Ended
	Jun. 30, 2014
Business Combinations [Abstract]	'
Mergers, Acquisitions and Dispositions Disclosures [Text Block]	'
	NOTE 5 —  ACQUISITIONS
	Acquisition of McLain & Kyne
	On October 12, 2006, the Company acquired all of the outstanding capital stock of McLain & Kyne. The Company was required to pay contingent consideration based on the case sales of Jefferson’s Presidential Select bourbon for a specified amount of cases. As of June 30, 2013, the Company had reached the specified case sale threshold for contingent consideration under the agreement. Accordingly, no further contingent consideration will be due. For the three months ended June 30, 2013, the sellers earned $5,940 under this agreement. The earn-out payments have been recorded as an increase to goodwill.

GOODWILL_AND_INTANGIBLE_ASSETS

GOODWILL AND INTANGIBLE ASSETS	3 Months Ended
	Jun. 30, 2014
Goodwill and Intangible Assets Disclosure [Abstract]	'
Goodwill and Intangible Assets Disclosure [Text Block]	'
	NOTE 6 —  GOODWILL AND INTANGIBLE ASSETS
	The carrying amount of goodwill was $496,226 at each of June 30 and March 31, 2014.
	Intangible assets consist of the following:
		June 30,		March 31,
		2014		2014
	Definite life brands	$	170,000	$	170,000
	Trademarks		535,947		535,947
	Rights		8,271,555		8,271,555
	Product development		96,959		96,959
	Patents		994,000		994,000
	Other		60,460		55,460
			10,128,921		10,123,921
	Less: accumulated amortization		6,220,366		6,058,005
	Net		3,908,555		4,065,916
	Other identifiable intangible assets — indefinite lived*		4,112,972		4,112,972
		$	8,021,527	$	8,178,888
	* Other identifiable intangible assets — indefinite lived consists of product formulations.
	Accumulated amortization consists of the following:
		June 30,		March 31,
		2014		2014
	Definite life brands	$	170,000	$	170,000
	Trademarks		269,904		262,098
	Rights		5,099,159		4,961,170
	Product development		20,350		20,350
	Patents		660,953		644,387
	Other		-		-
	Accumulated amortization	$	6,220,366	$	6,058,005

RESTRICTED_CASH

RESTRICTED CASH	3 Months Ended
	Jun. 30, 2014
Restricted Cash Disclosure [Abstract]	'
Restricted Cash Disclosure [Text Block]	'
	NOTE 7 —  RESTRICTED CASH
	At June 30 and March 31, 2014, the Company had  €303,128 or $413,623 (translated at the June 30, 2014 exchange rate) and €302,920 or $416,565 (translated at the March 31, 2014 exchange rate), respectively, of cash restricted from withdrawal and held by a bank in Ireland as collateral for overdraft coverage, creditors’ insurance, customs and excise guaranty and a revolving credit facility as described in Note 8A below.

NOTES_PAYABLE

NOTES PAYABLE	3 Months Ended
	Jun. 30, 2014
Long-Term Debt, Unclassified [Abstract]	'
Long-term Debt [Text Block]	'
	NOTE 8 —  NOTES PAYABLE
			June 30,		March 31,
			2014		2014
	Notes payable consist of the following:
	Foreign revolving credit facilities (A)		$	125,855	$	20,205
	Note payable – GCP note (B)			214,225		211,580
	Keltic facility (C)			5,414,425		1,953,037
	Bourbon term loan (D)			1,753,700		2,015,000
	Junior loan (E)			1,250,000		1,250,000
	5% Convertible notes (F)			2,125,000		2,125,000
	Total		$	10,883,205	$	7,574,822
		A.	The Company has arranged various facilities aggregating €302,714 or $413,059 (translated at the June 30, 2014 exchange rate) with an Irish bank, including overdraft coverage, creditors’ insurance, customs and excise guaranty, and a revolving credit facility. These facilities are payable on demand, continue until terminated by either party, are subject to annual review, and call for interest at the lender’s AA1 Rate minus 1.70 %. The balance on the credit facilities included in notes payable totaled €92,234, or $125,855 (translated at the June 30, 2014 exchange rate), and €14,693, or $20,205 (translated at the March 31, 2014 exchange rate), at June 30 and March 31, 2014, respectively.
		B.	In December 2009, GCP issued a promissory note (the “GCP Note”) in the aggregate principal amount of $211,580 to Gosling's Export (Bermuda) Limited in exchange for credits issued on certain inventory purchases. The GCP Note matures on April 1, 2020, is payable at maturity, subject to certain acceleration events, and calls for annual interest of 5%, to be accrued and paid at maturity At March 31, 2014, $10,579 of accrued interest was converted to amounts due to affiliates. At June 30, 2014, $214,225, consisting of $211,580 of principal and $2,645 of accrued interest, due on the GCP Note is included in long-term liabilities. At March 31, 2014, $211,580 of principal due on the GCP Note is included in long-term liabilities.
		C.	In August 2011, the Company and CB-USA entered into the Keltic Facility (“Keltic Facility”), a revolving loan agreement with Ares Management LLC, as successor in interest to Keltic Financial Partners II, LP ("Keltic") providing for availability (subject to certain terms and conditions) of a facility of up to $5,000,000 for the purpose of providing the Company and CB-USA with working capital. In July 2012, the Keltic Facility was amended to increase availability to $7,000,000, among other changes. In March 2013, the Keltic Facility was amended to increase availability to $8,000,000, among other changes. In August 2013, the Keltic Facility was amended to modify the borrowing base calculation and covenants with respect to the Keltic Facility and permit the Company to make regularly scheduled payments of principal and interest and voluntary prepayments on the Junior Loan (as defined below), subject to certain conditions set forth in the amendment, to modify certain aspects of the EBITDA covenant contained in the loan agreement, permit the Company to incur indebtedness in an aggregate original principal amount of $2,125,000 pursuant to the terms of the Note Purchase Agreement and Convertible Notes (as each term is defined below in Note 8F), and permit the Company to make regularly scheduled payments of principal and interest and voluntary prepayments on the Convertible Notes, subject to certain conditions set forth in the amendment. In November 2013, the Keltic Facility was further amended, to, among other things, provide for the issuances of letters of credit thereunder. In August 2014, the Keltic Facility was further amended to modify certain aspects of the EBITDA covenant contained in the loan agreement for the period ending June 30, 2014.
	The Company and CB-USA are referred to individually and collectively as the Borrower. The Keltic Facility expires on December 31, 2016. The Borrower may borrow up to the maximum amount of the Keltic Facility, provided that the Borrower has a sufficient borrowing base (as defined under the loan agreement). The Keltic Facility interest rate is the rate that, when annualized, is the greatest of (a) the Prime Rate plus 3.25%, (b) the LIBOR Rate plus 5.75% and (c) 6.50%. For the three months ended June 30, 2014, the Company paid interest at 6.5%. Interest is payable monthly in arrears, on the first day of every month on the average daily unpaid principal amount of the Keltic Facility. After the occurrence and during the continuance of any "Default" or "Event of Default" (as defined under the loan agreement), the Borrower is required to pay interest at a rate that is 3.25% per annum above the then applicable Keltic Facility interest rate. There have been no Events of Default under the Keltic Facility. The Company paid a $40,000 commitment fee in connection with the first amendment, a $70,000 closing and commitment fee in connection with the second amendment and a $25,000 closing and commitment fee in connection with the third amendment. Keltic also receives an annual facility fee in an amount equal to 1% per annum of the maximum revolving facility amount and a collateral management fee of $1,000 per month (increased to $2,000 after the occurrence of and during the continuance of an Event of Default). The loan agreement contains standard borrower representations and warranties for asset-based borrowing and a number of reporting obligations and affirmative and negative covenants. The loan agreement includes negative covenants that, among other things, restrict the Borrower’s ability to create additional indebtedness, dispose of properties, incur liens and make distributions or cash dividends. At June 30, 2014, the Company was in compliance, in all material respects, with the covenants under the Keltic Facility. At June 30 and March 31, 2014, $5,414,425 and $1,953,037, respectively, due on the Keltic Facility is included in long-term liabilities.
		D.	In March 2013, the Company and CB-USA entered into an inventory term loan of $2,496,000 (the "Bourbon Term Loan") that was used to purchase bourbon inventory on March 11, 2013. Unless sooner terminated in accordance with its terms, the Bourbon Term Loan matures on December 31, 2016. The Bourbon Term Loan interest rate is the rate that, when annualized, is the greatest of (a) the Prime Rate plus 4.25%, (b) the LIBOR Rate plus 6.75% and (c) 7.50%. For the three months ended June 30, 2014, the Company paid interest of 7.5%. Interest is payable monthly in arrears, on the first day of every month on the average daily unpaid principal amount of the Bourbon Term Loan. After the occurrence and during the continuance of any "Default" or "Event of Default" (as defined under the loan agreement), the Borrower is required to pay interest at a rate that is 3.25% per annum above the then applicable Bourbon Term Loan interest rate. The Borrower is required to pay down the principal balance of the Bourbon Term Loan within 15 banking days from the completion of a bottling run of bourbon from the bourbon inventory stock purchased on or about the date of the Bourbon Term Loan in an amount equal to the purchase price of such bourbon. The unpaid principal balance of the Bourbon Term Loan, all accrued and unpaid interest thereon, all fees, costs and expenses payable in connection with the Bourbon Term Loan are due and payable in full on December 31, 2016.
	Keltic required as a condition to funding the Bourbon Term Loan that Keltic had entered into a participation agreement (the "Participation Agreement") providing for an initial aggregate of $750,000 of the Bourbon Term Loan to be purchased by junior participants. Certain related parties of the Company purchased a portion of these junior participations in the Bourbon Term Loan, including Frost Gamma Investments Trust ($500,000), an entity affiliated with Phillip Frost, M.D., a director and principal shareholder of the Company, Mark E. Andrews, III ($50,000), a director of the Company and the Company’s Chairman, and an affiliate of Richard J. Lampen ($50,000), a director of the Company and the Company’s President and Chief Executive Officer (amounts shown are initial purchase amounts). Under the terms of the Participation Agreement, the junior participants receive interest at the rate of 11% per annum. Neither the Company nor CB-USA is a party to the Participation Agreement. However, the Borrower is party to a fee letter (the "Fee Letter") with the junior participants (including the related party junior participants) pursuant to which the Borrower is obligated to pay the junior participants an aggregate commitment fee of $45,000 in three equal annual installments of $15,000. In August 2013, the Bourbon Term Loan was amended to provide the Company with the ability to increase the maximum aggregate principal amount of the Bourbon Term Loan from $2,500,000 to up to $4,000,000 to finance the purchase of aged whiskies following the identification of junior participants to purchase a portion of the increased Bourbon Term Loan amount. The balance on the Bourbon Term Loan included in notes payable totaled $1,753,700 and $2,015,000 at June 30 and March 31, 2014, respectively.
		E.	In August 2013, the Company entered into a Loan Agreement (the "Junior Loan Agreement"), by and between the Company and the lending parties thereto (the "Junior Lenders"), which provides for an aggregate $1,250,000 unsecured loan (the "Junior Loan") to the Company. The Junior Loan bears interest at a rate of 11 % per annum, payable quarterly in arrears commencing November 1, 2013, and matures on October 15, 2015. The Junior Loan may be prepaid in whole or in part at any time without penalty or premium but with payment of accrued interest to the date of prepayment. The Junior Loan Agreement contains customary events of default, which, if uncured, entitle each Junior Lender to accelerate the due date of the unpaid principal amount of, and all accrued and unpaid interest on, the portion of the Junior Loan made by such Junior Lender. The Junior Loan Agreement provides for a funding fee of 2% per annum on the then outstanding Junior Loan balance (pro-rated for any period of less than one year), payable pro rata among the Junior Lenders on the date of the Junior Loan Agreement and on the first and second anniversaries thereof. The Junior Lenders include Frost Gamma Investments Trust ($200,000), Mark E. Andrews, III ($50,000) and an affiliate of Richard J. Lampen ($50,000). In connection with the Junior Loan Agreement, the Junior Lenders entered into a subordination agreement with Keltic; the Company is not a party to the subordination agreement. At each of June 30 and March 31, 2014, $1,250,000 of principal due on the Junior Loan is included in long-term liabilities.
		F.	In October 2013, the Company entered into a 5% Convertible Subordinated Note Purchase Agreement (the "Note Purchase Agreement"), by and among the Company and the purchasers party thereto, which provided for the issuance of an aggregate initial principal amount of $2,125,000 unsecured subordinated notes (the "Convertible Notes") by the Company. The Convertible Notes bear interest at a rate of 5% per annum, payable quarterly beginning on December 15, 2013 until their maturity date of December 15, 2018. The Convertible Notes and accrued but unpaid interest thereon are convertible in whole or in part from time to time at the option of the holders thereof into shares of the Company’s common stock at a conversion price of $0.90 per share (the "Conversion Price"). The Convertible Notes may be prepaid in whole or in part at any time without penalty or premium, but with payment of accrued interest to the date of prepayment. The Convertible Notes contain customary events of default, which, if uncured, entitle each note holder to accelerate the due date of the unpaid principal amount of, and all accrued and unpaid interest on, the Convertible Notes.
	The purchasers of the Convertible Notes  include certain related parties of the Company, including an affiliate of Dr. Phillip Frost ($500,000), Mark E. Andrews, III ($50,000), an affiliate of Richard J. Lampen ($50,000), an affiliate of Glenn Halpryn ($200,000), a director of the Company, Dennis Scholl ($100,000), a director of the Company, and Vector Group Ltd. ($200,000), a more than 5% shareholder of the Company, of which Richard Lampen is an executive officer and Henry Beinstein, a director of the Company, is a director.
	The Company may forcibly convert all or any part of the Convertible Notes and all accrued but unpaid interest thereon if (i) the average daily volume of the Company’s common stock (as reported on the principal market or exchange on which the common stock is listed or quoted for trading) exceeds $50,000 per trading day and (ii) the volume weighted average price of the common stock for at least twenty (20) trading days during any thirty (30) consecutive trading day period exceeds 250% of the then-current conversion price. Any forced conversion will be applied ratably to the holders of all Convertible Notes issued pursuant to the Note Purchase Agreement based on each holder’s then-current note holdings.
	In connection with the Note Purchase Agreement, each purchaser of the Convertible Notes was required to execute a joinder to the subordination agreement, by and among Keltic and certain other junior lenders to the Company; the Company is not a party to the Subordination Agreement. At each of June 30 and March 31, 2014, $2,125,000 of principal due on the Convertible Notes is included in long-term liabilities.

EQUITY

EQUITY	3 Months Ended
	Jun. 30, 2014
Stockholders Equity Note [Abstract]	'
Stockholders' Equity Note Disclosure [Text Block]	'
	NOTE 9 —  EQUITY
	Equity distribution agreement - In November 2013, the Company entered into an Equity Distribution Agreement (the "Distribution Agreement") with Barrington Research Associates, Inc. ("Barrington"), as sales agent, under which the Company may issue and sell over time and from time to time, to or through Barrington, shares (the "Shares") of its common stock having a gross sales price of up to $6.0 million.
	Sales of the Shares pursuant to the Distribution Agreement, may be effected by any method permitted by law deemed to be an "at-the-market" offering as defined in Rule 415 of the Securities Act of 1933, as amended, including without limitation directly on the NYSE MKT LLC or any other existing trading market for the common stock or through a market maker, up to the amount specified, and otherwise to or through Barrington in accordance with the placement notices delivered by the Company to Barrington. Also, with the prior consent of the Company, some or all of the Shares may be sold in privately negotiated transactions. Under the Distribution Agreement, Barrington will be entitled to compensation of 2.0 % of the gross proceeds from the sale of all of the Shares sold through Barrington, as sales agent, pursuant to the Distribution Agreement. Also, the Company will reimburse Barrington for certain expenses incurred in connection with the matters contemplated by the Distribution Agreement, up to an aggregate of $50,000, plus up to an additional $7,500 per calendar quarter related to ongoing maintenance; provided, however, that such reimbursement amount shall not exceed 8% of the aggregate gross proceeds received by the Company under the Distribution Agreement.
	In the three months ended June 30, 2014, the Company sold 1,247,343 Shares pursuant to the Distribution Agreement, with total gross proceeds of $1,231,241, before deducting sales agent and offering expenses of $38,532.
	The primary portion of the Company’s Registration Statement on Form S-3 under which the shares were sold expired on August 12, 2014; accordingly, no additional shares will be sold pursuant to the Distribution Agreement.
	Preferred stock dividends – Holders of the Company’s 10% Series A Convertible Preferred Stock, par value $0.01 per share (“Series A Preferred Stock”) were entitled to receive cumulative dividends at the rate per share (as a percentage of the stated value of $1,000 per share) of 10% per annum, whether or not declared by the Company’s Board of Directors, which were only payable in shares of the Company’s common stock upon conversion of the Series A Preferred Stock or upon a liquidation. For the three months ended June 30, 2013, the Company recorded accrued dividends of $189,932, included as an increase in the accumulated deficit and in additional paid-in capital on the accompanying consolidated balance sheets.
	On February 11, 2014, the Company’s Board of Directors approved the mandatory conversion of all outstanding shares of the Series A Preferred Stock pursuant to their terms, effective on or about February 24, 2014. Pursuant to the mandatory conversion, all 6,271 outstanding shares of Series A Preferred Stock, and accrued dividends thereon, converted into 25,760,881 shares of common stock.
	Preferred stock conversions – In the three months ended June 30, 2013, holders of Series A Preferred Stock converted 267 shares of Series A Preferred Stock, and accrued dividends thereon, into 1,049,492 shares of common stock.

WARRANTS

WARRANTS	3 Months Ended
	Jun. 30, 2014
Warrants [Abstract]	'
Warrants [Text Block]	'
	NOTE 10 —  WARRANTS
	The warrants issued in connection with the Series A Preferred Stock (the “2011 Warrants”) had an exercise price of $0.38 per share, subject to adjustment, and were exercisable for a period of five years. The exercise price of the 2011 Warrants was equal to 125% of the conversion price of the Series A Preferred Stock.
	The Company accounted for the 2011 Warrants issued in June 2011 in the consolidated financial statements as a liability at their initial fair value of $487,022 and accounted for the 2011 Warrants issued in October 2011 as a liability at their initial fair value of $780,972. Changes in the fair value of the 2011 Warrants were recognized in earnings for each subsequent reporting period. In November 2013, in accordance with certain terms of the 2011 Warrants, the down-round provisions included in the terms of the warrant ceased to be in force or effect as a result of the historical volume weighted average price and trading volume of the Company’s common stock. The Company then reclassified the fair value of the outstanding warrant liability of $6,187,968 to equity, resulting in an increase to additional paid-in capital. Further, the Company is no longer required to recognize any change in fair value of the 2011 Warrants.
	For the three months ended June 30, 2013 the Company recorded a loss on the change in the value of the 2011 Warrants of $477,251.
	The fair value of the warrants is a Level 3 fair value under the valuation hierarchy and was estimated using the Black-Scholes option pricing model utilizing the following assumptions:
		At Conversion			June 30, 2013
	Stock price	$	0.92		$	0.38
	Risk-free interest rate		0.61	%		0.66	%
	Expected option life in years		2.63			3
	Expected stock price volatility		55	%		40	%
	Expected dividend yield		0	%		0	%
	2011 Warrants exercised – On April 2, 2014, the Company called for cancellation all 1,657,802 unexercised 2011 Warrants pursuant to the terms of such 2011 Warrants after satisfying applicable conditions. Holders of the 2011 Warrants had until 6:30 p.m. New York City time on April 21, 2014 to exercise such 2011 Warrants at $0.38 per share in cash. Pursuant to the call for cancellation, holders of all 1,657,802 unexercised 2011 Warrants exercised and received 1,657,802 shares of common stock. The Company received $629,965 in cash upon the exercise of these warrants. No 2011 Warrants were exercised in the three months ended June 30, 2013.

FOREIGN_CURRENCY_FORWARD_CONTR

FOREIGN CURRENCY FORWARD CONTRACTS	3 Months Ended
	Jun. 30, 2014
Foreign Currency [Abstract]	'
Foreign Currency Disclosure [Text Block]	'
	NOTE 11 —  FOREIGN CURRENCY FORWARD CONTRACTS
	The Company enters into forward contracts from time to time to reduce its exposure to foreign currency fluctuations. The Company recognizes in the balance sheet derivative contracts at fair value, and reflects any net gains and losses currently in earnings. At June 30 and March 31, 2014, the Company had no forward contracts outstanding. Gain or loss on foreign currency forward contracts, which was de minimis during the periods presented, is included in other income and expense.

STOCKBASED_COMPENSATION

STOCK-BASED COMPENSATION	3 Months Ended
	Jun. 30, 2014
Disclosure Of Compensation Related Costs, Share-Based Payments [Abstract]	'
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]	'
	NOTE 12 —   STOCK-BASED COMPENSATION
	In May 2014, the Company granted to employees, directors and certain consultants options to purchase an aggregate of 2,305,000 shares of the Company’s common stock at an exercise price of $1.00 per share under the Company’s 2013 Incentive Compensation Plan. The options, which expire in June 2024, vest 25% on each of the first four anniversaries of the grant date. The Company has valued the options at $1,429,100 using the Black-Scholes option pricing model.
	Stock-based compensation expense for the three months ended June 30, 2014 and 2013 amounted to $191,456 and $72,533, respectively. At June 30, 2014, total unrecognized compensation cost amounted to $1,956,809, representing 6,203,011 unvested options. This cost is expected to be recognized over a weighted-average vesting period of  2.81 years. There were 230,033 options exercised during the three months ended June 30, 2014 and no options exercised during the three months ended June 30, 2013. The Company did not recognize any related tax benefit for the three months ended June 30, 2014 and 2013 from option exercises, as the option exercises were de minimis.

COMMITMENTS_AND_CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	3 Months Ended
	Jun. 30, 2014
Commitments and Contingencies Disclosure [Abstract]	'
Commitments and Contingencies Disclosure [Text Block]	'
	NOTE 13 —  COMMITMENTS AND CONTINGENCIES
		A.	The Company has entered into a supply agreement with Irish Distillers Limited (“IDL”), which provides for the production of blended Irish whiskeys for the Company until the contract is terminated by either party in accordance with the terms of the agreement. IDL may terminate the contract if it provides at least six years prior notice to the Company, except for breach. Under this agreement, the Company provides IDL with a forecast of the estimated amount of liters of pure alcohol it requires for the next four fiscal contract years and agrees to purchase 90% of that amount, subject to certain annual adjustments. For the contract year ending June 30, 2015, the Company has contracted to purchase approximately €774,662 or $1,057,042 (translated at the June 30, 2014 exchange rate) in bulk Irish whiskey. The Company is not obligated to pay IDL for any product not yet received. During the term of this supply agreement, IDL has the right to limit additional purchases above the commitment amount.
		B.	The Company has also entered into a supply agreement with IDL, which provides for the production of single malt Irish whiskeys for the Company until the contract is terminated by either party in accordance with the terms of the agreement. IDL may terminate the contract if it provides at least thirteen years prior notice to the Company, except for breach. Under this agreement, the Company provides IDL with a forecast of the estimated amount of liters of pure alcohol it requires for the next twelve fiscal contract years and agrees to purchase 80% of that amount, subject to certain annual adjustments. For the contract year ending June 30, 2015, the Company has contracted to purchase approximately €303,998 or $414,811 (translated at the June 30, 2014 exchange rate) in bulk Irish whiskey. The Company is not obligated to pay IDL for any product not yet received. During the term of this supply agreement, IDL has the right to limit additional purchases above the commitment amount.
		C.	The Company leases office space in New York, NY, Dublin, Ireland and Houston, TX. The New York, NY lease began on May 1, 2010 and expires on April 30, 2016 and provides for monthly payments of $19,975. The Dublin lease commenced on March 1, 2009 and extends through October 31, 2016 and provides for monthly payments of €1,100 or $1,501 (translated at the June 30, 2014 exchange rate). The Houston, TX lease commenced on February 24, 2000 and extends through January 31, 2015 and provides for monthly payments of $1,875. The Company has also entered into non-cancelable operating leases for certain office equipment.
		D.	Except as set forth below, the Company believes that neither it nor any of its subsidiaries is currently subject to litigation which, in the opinion of management after consultation with counsel, is likely to have a material adverse effect on the Company.
			The Company has been advised that a complaint has been filed in the United States District Court for the Western District of Kentucky alleging that McLain & Kyne has violated another party’s trademark rights.  The complaint has not been served on McLain & Kyne.  The Company believes that the claim is without merit and intends to vigorously defend against it.
			The Company may become involved in litigation from time to time relating to claims arising in the ordinary course of its business. These claims, even if not meritorious, could result in the expenditure of significant financial and managerial resources.

CONCENTRATIONS

CONCENTRATIONS	3 Months Ended
	Jun. 30, 2014
Risks and Uncertainties [Abstract]	'
Concentration Risk Disclosure [Text Block]	'
	NOTE 14 —  CONCENTRATIONS
		A.	Credit Risk — The Company maintains its cash and cash equivalents balances at various large financial institutions that, at times, may exceed federally and internationally insured limits. The Company exceeded the limits in effect at June 30, 2014 by approximately $570,000 and exceeded the limits in effect at March 31, 2014 by approximately $725,000.
		B.	Customers — Sales to one customer, the Southern Wine and Spirits of America, Inc. family of companies (“SWS”), accounted for approximately 29.3% and 33.6% of the Company’s revenues for the three months ended June 30, 2014 and 2013, respectively, and approximately 31.0% of accounts receivable at June 30, 2014.

GEOGRAPHIC_INFORMATION

GEOGRAPHIC INFORMATION	3 Months Ended
	Jun. 30, 2014
Segment Reporting [Abstract]	'
Segment Reporting Disclosure [Text Block]	'
	NOTE 15 —  GEOGRAPHIC INFORMATION
	The Company operates in one reportable segment — the sale of premium beverage alcohol. The Company’s product categories are rum and related products, liqueur, whiskey, vodka and tequila. The Company reports its operations in two geographic areas: International and United States.
	The consolidated financial statements include revenues and assets generated in or held in the U.S. and foreign countries. The following table sets forth the amounts and percentage of consolidated revenue, consolidated results from operations, consolidated net loss attributable to common shareholders, consolidated income tax benefit and consolidated assets from the U.S. and foreign countries and consolidated revenue by category.
		Three months ended June 30,
		2014				2013
	Consolidated Revenue:
	International	$	1,578,730	13.2	%	$	1,503,830	14.6	%
	United States		10,403,469	86.8	%		8,914,787	85.4	%
	Total Consolidated Revenue	$	11,982,199	100	%	$	10,418,617	100	%
	Consolidated Results from Operations:
	International	$	-27,017	5.2	%	$	40,681	-8.9	%
	United States		-492,369	94.8	%		-496,319	108.9	%
	Total Consolidated Results from Operations	$	-519,386	100	%	$	-455,638	100	%
	Consolidated Net Loss Attributable to Common Shareholders:
	International	$	-60,633	4.1	%	$	16,623	-1.3	%
	United States		-1,435,198	95.9	%		-1,309,450	101.3	%
	Total Consolidated Net Loss Attributable to Common Shareholders	$	-1,495,831	100	%	$	-1,292,827	100	%
	Income tax (expense) benefit:
	United States	$	-162,962	100	%	$	37,038	100	%
	Consolidated Revenue by category:
	Rum	$	4,292,195	35.8	%	$	4,213,771	40.4	%
	Whiskey		3,012,079	25.1	%		2,295,228	22	%
	Liqueurs		1,902,443	15.9	%		1,870,806	18	%
	Vodka		520,583	4.3	%		589,649	5.7	%
	Tequila		85,329	0.7	%		59,902	0.6	%
	Wine		—	0	%		114,610	1.1	%
	Gosling’s Stormy Ginger Beer and other*		2,169,570	18.2	%		1,274,651	12.2	%
	Total Consolidated Revenue	$	11,982,199	100	%	$	10,418,617	100	%
		As of June 30, 2014				As of March 31, 2014
	Consolidated Assets:
	International	$	2,551,001	6.4	%		2,201,343	6	%
	United States		37,244,003	93.6	%		34,320,167	94	%
	Total Consolidated Assets	$	39,795,004	100	%		36,521,510	100	%
	*Includes related non-beverage alcohol products.

ORGANIZATION_AND_SUMMARY_OF_SI1

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended
	Jun. 30, 2014
Accounting Policies [Abstract]	'
Business Description and Basis of Presentation [Text Block]	'
		A.	Description of business — The consolidated financial statements include the accounts of the Company, its wholly-owned domestic subsidiaries, Castle Brands (USA) Corp. (“CB-USA”) and McLain & Kyne, Ltd. (“McLain & Kyne”), the Company’s wholly-owned foreign subsidiaries, Castle Brands Spirits Group Limited (“CB-IRL”) and Castle Brands Spirits Marketing and Sales Company Limited, and the Company’s 60 % ownership interest in Gosling-Castle Partners, Inc. (“GCP”), with adjustments for income or loss allocated based upon percentage of ownership. The accounts of the subsidiaries have been included as of the date of acquisition. All significant intercompany transactions and balances have been eliminated.
Nature of Operations [Text Block]	'
		B.	Organization and operations — The Company is principally engaged in the importation, marketing and sale of premium and super premium brands of rums, whiskey, liqueurs, vodka and tequila in the United States, Canada, Europe and Asia.
Equity Method Investments, Policy [Policy Text Block]	'
		C.	Equity investments  — Equity investments are carried at original cost adjusted for the Company’s proportionate share of the investees’ income, losses and distributions. The Company assesses the carrying value of its equity investments when an indicator of a loss in value is present and records a loss in value of the investment when the assessment indicates that an other-than-temporary decline in the investment exists. The Company classifies its equity earnings of non-consolidated affiliate equity investment as a component of net income or loss.
Goodwill and Intangible Assets, Policy [Policy Text Block]	'
		D.	Goodwill and other intangible assets — Goodwill represents the excess of purchase price including related costs over the value assigned to the net tangible and identifiable intangible assets of businesses acquired. Goodwill and other identifiable intangible assets with indefinite lives are not amortized, but instead are tested for impairment annually, or more frequently if circumstances indicate a possible impairment may exist. Intangible assets with estimable useful lives are amortized over their respective estimated useful lives, generally on a straight-line basis, and are reviewed for impairment whenever events or changes in circumstances indicate that the carrying value may not be recoverable.
Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block]	'
		E.	Impairment of long-lived assets — Under Financial Accounting Standards Board ("FASB") Accounting Standards Codification ("ASC") 310, “Accounting for the Impairment or Disposal of Long-lived Assets”, the Company periodically reviews whether changes have occurred that would require revisions to the carrying amounts of its definite lived, long-lived assets. When the sum of the expected future cash flows is less than the carrying amount of the asset, an impairment loss is recognized based on the fair value of the asset.
Excise Taxes and Duty [Policy Text Block]	'
		F.	Excise taxes and duty — Excise taxes and duty are computed at standard rates based on alcohol proof per gallon/liter and are paid after finished goods are imported into the United States and then transferred out of “bond,” or sold by CB-IRL in Ireland “tax paid.” Excise taxes and duty are recorded to inventory as a component of the cost of the underlying finished goods. When the underlying products are sold “ex warehouse”, the sales price reflects the taxes paid and the inventoried excise taxes and duties are charged to cost of sales.
Foreign Currency Transactions and Translations Policy [Policy Text Block]	'
		G.	Foreign currency — The functional currency for the Company’s foreign operations is the Euro in Ireland and the British Pound in the United Kingdom. Under ASC 830, “Foreign Currency Matters”, the translation from the applicable foreign currencies to U.S. Dollars is performed for balance sheet accounts using exchange rates in effect at the balance sheet date and for revenue and expense accounts using a weighted average exchange rate during the period. The resulting translation adjustments are recorded as a component of other comprehensive income. Gains or losses resulting from foreign currency transactions are shown as a separate line item in the consolidated statements of operations.
Fair Value of Financial Instruments, Policy [Policy Text Block]	'
		H.	Fair value of financial instruments — ASC 825, “Financial Instruments”, defines the fair value of a financial instrument as the amount at which the instrument could be exchanged in a current transaction between willing parties and requires disclosure of the fair value of certain financial instruments. The Company believes that there is no material difference between the fair-value and the reported amounts of financial instruments in the Company’s balance sheets due to the short term maturity of these instruments, or with respect to the Company’s debt, as compared to the current borrowing rates available to the Company.
	The Company’s investments are reported at fair value in accordance with authoritative guidance, which accomplishes the following key objectives:
		-	Defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date;
		-	Establishes a three-level hierarchy (“valuation hierarchy”) for fair value measurements;
		-	Requires consideration of the Company’s creditworthiness when valuing liabilities; and
		-	Expands disclosures about instruments measured at fair value.
	The valuation hierarchy is based upon the transparency of inputs to the valuation of an asset or liability as of the measurement date. A financial instrument’s categorization within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement. The three levels of the valuation hierarchy are as follows:
		-	Level 1 — inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets.
		-	Level 2 — inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are directly or indirectly observable for the asset or liability for substantially the full term of the financial instrument.
		-	Level 3 — inputs to the valuation methodology are unobservable and significant to the fair value measurement.
Income Tax, Policy [Policy Text Block]	'
		I.	Income taxes — Under ASC 740, “Income Taxes”, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis. A valuation allowance is provided to the extent a deferred tax asset is not considered recoverable.
	The Company has not recognized any adjustments for uncertain tax positions. The Company recognizes interest and penalties related to uncertain tax positions in general and administrative expense; however, no such provisions for accrued interest and penalties related to uncertain tax positions have been recorded by the Company.
	The Company’s income tax benefit for the three months ended June 30, 2014 and 2013 consists of federal, state and local taxes attributable to GCP, which does not file a consolidated income tax return with the Company. In connection with the investment in GCP, the Company recorded a deferred tax liability on the ascribed value of the acquired intangible assets of $2,222,222, increasing the value of the asset. The difference between the book basis and tax basis created a deferred tax liability that is being amortized over a period of 15 years (the life of the licensing agreement) on a straight-line basis. For the three months ended June 30, 2014, the Company recognized ($162,962) of deferred tax expense, net and for the three months ended June 30, 2013, the Company recognized $37,038 of deferred tax benefits, respectively.
New Accounting Pronouncements, Policy [Policy Text Block]	'
		J.	Recent accounting pronouncements — In May 2014, the FASB issued (Accounting Standards Update (“ASU”) No. 2014-09), Revenue from Contracts with Customers, to clarify the principles for recognizing revenue. This guidance includes the required steps to achieve the core principle that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. This guidance is effective for fiscal years and interim periods beginning after December 15, 2016. The Company is currently evaluating the new guidance to determine the impact the adoption of this guidance will have on the Company’s results of operations, cash flows or financial condition.
	In April 2014, the FASB issued ASU No. 2014-08 which provides final guidance to change the criteria for reporting discontinued operations while enhancing disclosures in this area. Under the new guidance, only disposals representing a strategic shift, such as a major line of business, a major geographical area or a major equity investment, should be presented as discontinued operations. The guidance will be applied prospectively to new disposals and new classifications of disposal groups as held for sale after the effective date. The guidance is effective for annual financial statements with fiscal years beginning on or after December 15, 2014 with early adoption permitted for disposals or classifications as held for sale which have not been reported in financial statements previously issued or available for issuance. The Company will adopt the guidance effective April 1, 2015 and the adoption of this guidance is not expected to have a material impact on the Company’s results of operations, cash flows or financial condition.
	In March 2014, the Emerging Issues Task Force (the “Task Force”) reached a final consensus to amend the accounting guidance for stock compensation tied to performance targets (Issue No. 13-D). The objective of this guidance is to clarify the accounting treatment of certain types of performance conditions in stock-based compensation awards, more specifically, when performance targets can be achieved after the requisite service period. The Task Force concluded that performance criteria subsequent to a service period vesting requirement should be treated as vesting conditions, and as a result, this type of performance condition may delay expense recognition until achievement of the performance target is probable. Issue No. 13-D will be effective for all entities for reporting periods (including interim periods) beginning after December 15, 2015, and early adoption is permitted. The adoption of this guidance is not expected have a material impact on the Company’s results of operations, cash flows or financial condition.

BASIC_AND_DILUTED_NET_LOSS_PER1

BASIC AND DILUTED NET LOSS PER COMMON SHARE (Tables)	3 Months Ended
	Jun. 30, 2014
Accounting Policies [Abstract]	'
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block]	'
	Potential common shares not included in calculating diluted net loss per share are as follows:
		Three months ended June 30,
		2014		2013
	Stock options		13,242,974		10,040,765
	Warrants to purchase common stock		120,000		11,874,087
	Convertible preferred stock and accrued dividends		—		25,615,876
	5% Convertible notes		2,361,111		—
	Total		15,724,085		47,530,728

INVENTORIES_Tables

INVENTORIES (Tables)	3 Months Ended
	Jun. 30, 2014
Inventory Disclosure [Abstract]	'
Schedule of Inventory, Current [Table Text Block]	'
		June 30,		March 31,
		2014		2014
	Raw materials	$	9,050,528	$	4,502,234
	Finished goods – net		10,498,012		10,147,795
	Total	$	19,548,540	$	14,650,029

GOODWILL_AND_INTANGIBLE_ASSETS1

GOODWILL AND INTANGIBLE ASSETS (Tables)	3 Months Ended
	Jun. 30, 2014
Goodwill and Intangible Assets Disclosure [Abstract]	'
Schedule of Finite-Lived Intangible Assets [Table Text Block]	'
	Intangible assets consist of the following:
		June 30,		March 31,
		2014		2014
	Definite life brands	$	170,000	$	170,000
	Trademarks		535,947		535,947
	Rights		8,271,555		8,271,555
	Product development		96,959		96,959
	Patents		994,000		994,000
	Other		60,460		55,460
			10,128,921		10,123,921
	Less: accumulated amortization		6,220,366		6,058,005
	Net		3,908,555		4,065,916
	Other identifiable intangible assets — indefinite lived*		4,112,972		4,112,972
		$	8,021,527	$	8,178,888
	* Other identifiable intangible assets — indefinite lived consists of product formulations.
Accumulated Amortization [Table Text Block]	'
	Accumulated amortization consists of the following:
		June 30,		March 31,
		2014		2014
	Definite life brands	$	170,000	$	170,000
	Trademarks		269,904		262,098
	Rights		5,099,159		4,961,170
	Product development		20,350		20,350
	Patents		660,953		644,387
	Other		-		-
	Accumulated amortization	$	6,220,366	$	6,058,005

NOTES_PAYABLE_Tables

NOTES PAYABLE (Tables)	3 Months Ended
	Jun. 30, 2014
Long-Term Debt, Unclassified [Abstract]	'
Schedule Of Notes Payable and Credit Facility [Table Text Block]	'
			June 30,		March 31,
			2014		2014
	Notes payable consist of the following:
	Foreign revolving credit facilities (A)		$	125,855	$	20,205
	Note payable – GCP note (B)			214,225		211,580
	Keltic facility (C)			5,414,425		1,953,037
	Bourbon term loan (D)			1,753,700		2,015,000
	Junior loan (E)			1,250,000		1,250,000
	5% Convertible notes (F)			2,125,000		2,125,000
	Total		$	10,883,205	$	7,574,822
		A.	The Company has arranged various facilities aggregating €302,714 or $413,059 (translated at the June 30, 2014 exchange rate) with an Irish bank, including overdraft coverage, creditors’ insurance, customs and excise guaranty, and a revolving credit facility. These facilities are payable on demand, continue until terminated by either party, are subject to annual review, and call for interest at the lender’s AA1 Rate minus 1.70 %. The balance on the credit facilities included in notes payable totaled €92,234, or $125,855 (translated at the June 30, 2014 exchange rate), and €14,693, or $20,205 (translated at the March 31, 2014 exchange rate), at June 30 and March 31, 2014, respectively.
		B.	In December 2009, GCP issued a promissory note (the “GCP Note”) in the aggregate principal amount of $211,580 to Gosling's Export (Bermuda) Limited in exchange for credits issued on certain inventory purchases. The GCP Note matures on April 1, 2020, is payable at maturity, subject to certain acceleration events, and calls for annual interest of 5%, to be accrued and paid at maturity At March 31, 2014, $10,579 of accrued interest was converted to amounts due to affiliates. At June 30, 2014, $214,225, consisting of $211,580 of principal and $2,645 of accrued interest, due on the GCP Note is included in long-term liabilities. At March 31, 2014, $211,580 of principal due on the GCP Note is included in long-term liabilities.
		C.	In August 2011, the Company and CB-USA entered into the Keltic Facility (“Keltic Facility”), a revolving loan agreement with Ares Management LLC, as successor in interest to Keltic Financial Partners II, LP ("Keltic") providing for availability (subject to certain terms and conditions) of a facility of up to $5,000,000 for the purpose of providing the Company and CB-USA with working capital. In July 2012, the Keltic Facility was amended to increase availability to $7,000,000, among other changes. In March 2013, the Keltic Facility was amended to increase availability to $8,000,000, among other changes. In August 2013, the Keltic Facility was amended to modify the borrowing base calculation and covenants with respect to the Keltic Facility and permit the Company to make regularly scheduled payments of principal and interest and voluntary prepayments on the Junior Loan (as defined below), subject to certain conditions set forth in the amendment, to modify certain aspects of the EBITDA covenant contained in the loan agreement, permit the Company to incur indebtedness in an aggregate original principal amount of $2,125,000 pursuant to the terms of the Note Purchase Agreement and Convertible Notes (as each term is defined below in Note 8F), and permit the Company to make regularly scheduled payments of principal and interest and voluntary prepayments on the Convertible Notes, subject to certain conditions set forth in the amendment. In November 2013, the Keltic Facility was further amended, to, among other things, provide for the issuances of letters of credit thereunder. In August 2014, the Keltic Facility was further amended to modify certain aspects of the EBITDA covenant contained in the loan agreement for the period ending June 30, 2014.
	The Company and CB-USA are referred to individually and collectively as the Borrower. The Keltic Facility expires on December 31, 2016. The Borrower may borrow up to the maximum amount of the Keltic Facility, provided that the Borrower has a sufficient borrowing base (as defined under the loan agreement). The Keltic Facility interest rate is the rate that, when annualized, is the greatest of (a) the Prime Rate plus 3.25%, (b) the LIBOR Rate plus 5.75% and (c) 6.50%. For the three months ended June 30, 2014, the Company paid interest at 6.5%. Interest is payable monthly in arrears, on the first day of every month on the average daily unpaid principal amount of the Keltic Facility. After the occurrence and during the continuance of any "Default" or "Event of Default" (as defined under the loan agreement), the Borrower is required to pay interest at a rate that is 3.25% per annum above the then applicable Keltic Facility interest rate. There have been no Events of Default under the Keltic Facility. The Company paid a $40,000 commitment fee in connection with the first amendment, a $70,000 closing and commitment fee in connection with the second amendment and a $25,000 closing and commitment fee in connection with the third amendment. Keltic also receives an annual facility fee in an amount equal to 1% per annum of the maximum revolving facility amount and a collateral management fee of $1,000 per month (increased to $2,000 after the occurrence of and during the continuance of an Event of Default). The loan agreement contains standard borrower representations and warranties for asset-based borrowing and a number of reporting obligations and affirmative and negative covenants. The loan agreement includes negative covenants that, among other things, restrict the Borrower’s ability to create additional indebtedness, dispose of properties, incur liens and make distributions or cash dividends. At June 30, 2014, the Company was in compliance, in all material respects, with the covenants under the Keltic Facility. At June 30 and March 31, 2014, $5,414,425 and $1,953,037, respectively, due on the Keltic Facility is included in long-term liabilities.
		D.	In March 2013, the Company and CB-USA entered into an inventory term loan of $2,496,000 (the "Bourbon Term Loan") that was used to purchase bourbon inventory on March 11, 2013. Unless sooner terminated in accordance with its terms, the Bourbon Term Loan matures on December 31, 2016. The Bourbon Term Loan interest rate is the rate that, when annualized, is the greatest of (a) the Prime Rate plus 4.25%, (b) the LIBOR Rate plus 6.75% and (c) 7.50%. For the three months ended June 30, 2014, the Company paid interest of 7.5%. Interest is payable monthly in arrears, on the first day of every month on the average daily unpaid principal amount of the Bourbon Term Loan. After the occurrence and during the continuance of any "Default" or "Event of Default" (as defined under the loan agreement), the Borrower is required to pay interest at a rate that is 3.25% per annum above the then applicable Bourbon Term Loan interest rate. The Borrower is required to pay down the principal balance of the Bourbon Term Loan within 15 banking days from the completion of a bottling run of bourbon from the bourbon inventory stock purchased on or about the date of the Bourbon Term Loan in an amount equal to the purchase price of such bourbon. The unpaid principal balance of the Bourbon Term Loan, all accrued and unpaid interest thereon, all fees, costs and expenses payable in connection with the Bourbon Term Loan are due and payable in full on December 31, 2016.
	Keltic required as a condition to funding the Bourbon Term Loan that Keltic had entered into a participation agreement (the "Participation Agreement") providing for an initial aggregate of $750,000 of the Bourbon Term Loan to be purchased by junior participants. Certain related parties of the Company purchased a portion of these junior participations in the Bourbon Term Loan, including Frost Gamma Investments Trust ($500,000), an entity affiliated with Phillip Frost, M.D., a director and principal shareholder of the Company, Mark E. Andrews, III ($50,000), a director of the Company and the Company’s Chairman, and an affiliate of Richard J. Lampen ($50,000), a director of the Company and the Company’s President and Chief Executive Officer (amounts shown are initial purchase amounts). Under the terms of the Participation Agreement, the junior participants receive interest at the rate of 11% per annum. Neither the Company nor CB-USA is a party to the Participation Agreement. However, the Borrower is party to a fee letter (the "Fee Letter") with the junior participants (including the related party junior participants) pursuant to which the Borrower is obligated to pay the junior participants an aggregate commitment fee of $45,000 in three equal annual installments of $15,000. In August 2013, the Bourbon Term Loan was amended to provide the Company with the ability to increase the maximum aggregate principal amount of the Bourbon Term Loan from $2,500,000 to up to $4,000,000 to finance the purchase of aged whiskies following the identification of junior participants to purchase a portion of the increased Bourbon Term Loan amount. The balance on the Bourbon Term Loan included in notes payable totaled $1,753,700 and $2,015,000 at June 30 and March 31, 2014, respectively.
		E.	In August 2013, the Company entered into a Loan Agreement (the "Junior Loan Agreement"), by and between the Company and the lending parties thereto (the "Junior Lenders"), which provides for an aggregate $1,250,000 unsecured loan (the "Junior Loan") to the Company. The Junior Loan bears interest at a rate of 11 % per annum, payable quarterly in arrears commencing November 1, 2013, and matures on October 15, 2015. The Junior Loan may be prepaid in whole or in part at any time without penalty or premium but with payment of accrued interest to the date of prepayment. The Junior Loan Agreement contains customary events of default, which, if uncured, entitle each Junior Lender to accelerate the due date of the unpaid principal amount of, and all accrued and unpaid interest on, the portion of the Junior Loan made by such Junior Lender. The Junior Loan Agreement provides for a funding fee of 2% per annum on the then outstanding Junior Loan balance (pro-rated for any period of less than one year), payable pro rata among the Junior Lenders on the date of the Junior Loan Agreement and on the first and second anniversaries thereof. The Junior Lenders include Frost Gamma Investments Trust ($200,000), Mark E. Andrews, III ($50,000) and an affiliate of Richard J. Lampen ($50,000). In connection with the Junior Loan Agreement, the Junior Lenders entered into a subordination agreement with Keltic; the Company is not a party to the subordination agreement. At each of June 30 and March 31, 2014, $1,250,000 of principal due on the Junior Loan is included in long-term liabilities.
		F.	In October 2013, the Company entered into a 5% Convertible Subordinated Note Purchase Agreement (the "Note Purchase Agreement"), by and among the Company and the purchasers party thereto, which provided for the issuance of an aggregate initial principal amount of $2,125,000 unsecured subordinated notes (the "Convertible Notes") by the Company. The Convertible Notes bear interest at a rate of 5% per annum, payable quarterly beginning on December 15, 2013 until their maturity date of December 15, 2018. The Convertible Notes and accrued but unpaid interest thereon are convertible in whole or in part from time to time at the option of the holders thereof into shares of the Company’s common stock at a conversion price of $0.90 per share (the "Conversion Price"). The Convertible Notes may be prepaid in whole or in part at any time without penalty or premium, but with payment of accrued interest to the date of prepayment. The Convertible Notes contain customary events of default, which, if uncured, entitle each note holder to accelerate the due date of the unpaid principal amount of, and all accrued and unpaid interest on, the Convertible Notes.
	The purchasers of the Convertible Notes  include certain related parties of the Company, including an affiliate of Dr. Phillip Frost ($500,000), Mark E. Andrews, III ($50,000), an affiliate of Richard J. Lampen ($50,000), an affiliate of Glenn Halpryn ($200,000), a director of the Company, Dennis Scholl ($100,000), a director of the Company, and Vector Group Ltd. ($200,000), a more than 5% shareholder of the Company, of which Richard Lampen is an executive officer and Henry Beinstein, a director of the Company, is a director.
	The Company may forcibly convert all or any part of the Convertible Notes and all accrued but unpaid interest thereon if (i) the average daily volume of the Company’s common stock (as reported on the principal market or exchange on which the common stock is listed or quoted for trading) exceeds $50,000 per trading day and (ii) the volume weighted average price of the common stock for at least twenty (20) trading days during any thirty (30) consecutive trading day period exceeds 250% of the then-current conversion price. Any forced conversion will be applied ratably to the holders of all Convertible Notes issued pursuant to the Note Purchase Agreement based on each holder’s then-current note holdings.
	In connection with the Note Purchase Agreement, each purchaser of the Convertible Notes was required to execute a joinder to the subordination agreement, by and among Keltic and certain other junior lenders to the Company; the Company is not a party to the Subordination Agreement. At each of June 30 and March 31, 2014, $2,125,000 of principal due on the Convertible Notes is included in long-term liabilities.

WARRANTS_Tables

WARRANTS (Tables)	3 Months Ended
	Jun. 30, 2014
Warrants [Abstract]	'
Warrants Liabilities [Table Text Block]	'
	The fair value of the warrants is a Level 3 fair value under the valuation hierarchy and was estimated using the Black-Scholes option pricing model utilizing the following assumptions:
		At Conversion			June 30, 2013
	Stock price	$	0.92		$	0.38
	Risk-free interest rate		0.61	%		0.66	%
	Expected option life in years		2.63			3
	Expected stock price volatility		55	%		40	%
	Expected dividend yield		0	%		0	%

GEOGRAPHIC_INFORMATION_Tables

GEOGRAPHIC INFORMATION (Tables)	3 Months Ended
	Jun. 30, 2014
Segment Reporting [Abstract]	'
Schedule of Segment Reporting Information, by Segment [Table Text Block]	'
	The following table sets forth the amounts and percentage of consolidated revenue, consolidated results from operations, consolidated net loss attributable to common shareholders, consolidated income tax benefit and consolidated assets from the U.S. and foreign countries and consolidated revenue by category.
		Three months ended June 30,
		2014				2013
	Consolidated Revenue:
	International	$	1,578,730	13.2	%	$	1,503,830	14.6	%
	United States		10,403,469	86.8	%		8,914,787	85.4	%
	Total Consolidated Revenue	$	11,982,199	100	%	$	10,418,617	100	%
	Consolidated Results from Operations:
	International	$	-27,017	5.2	%	$	40,681	-8.9	%
	United States		-492,369	94.8	%		-496,319	108.9	%
	Total Consolidated Results from Operations	$	-519,386	100	%	$	-455,638	100	%
	Consolidated Net Loss Attributable to Common Shareholders:
	International	$	-60,633	4.1	%	$	16,623	-1.3	%
	United States		-1,435,198	95.9	%		-1,309,450	101.3	%
	Total Consolidated Net Loss Attributable to Common Shareholders	$	-1,495,831	100	%	$	-1,292,827	100	%
	Income tax (expense) benefit:
	United States	$	-162,962	100	%	$	37,038	100	%
	Consolidated Revenue by category:
	Rum	$	4,292,195	35.8	%	$	4,213,771	40.4	%
	Whiskey		3,012,079	25.1	%		2,295,228	22	%
	Liqueurs		1,902,443	15.9	%		1,870,806	18	%
	Vodka		520,583	4.3	%		589,649	5.7	%
	Tequila		85,329	0.7	%		59,902	0.6	%
	Wine		—	0	%		114,610	1.1	%
	Gosling’s Stormy Ginger Beer and other*		2,169,570	18.2	%		1,274,651	12.2	%
	Total Consolidated Revenue	$	11,982,199	100	%	$	10,418,617	100	%
		As of June 30, 2014				As of March 31, 2014
	Consolidated Assets:
	International	$	2,551,001	6.4	%		2,201,343	6	%
	United States		37,244,003	93.6	%		34,320,167	94	%
	Total Consolidated Assets	$	39,795,004	100	%		36,521,510	100	%
	*Includes related non-beverage alcohol products.

ORGANIZATION_AND_SUMMARY_OF_SI2

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Textual) (USD $)	3 Months Ended
	Jun. 30, 2014	Jun. 30, 2013
Summary Of Significant Accounting Policies [Line Items]	'	'
Subsidiary or Equity Method Investee, Cumulative Percentage Ownership after All Transactions	60.00%	'
Deferred Tax Liabilities, Intangible Assets	$2,222,222	$2,222,222
Deferred Income Tax Expense Benefit Period Of Recognition	'15 years	'
Income tax (expense) benefit, net	($162,962)	$37,038

BASIC_AND_DILUTED_NET_LOSS_PER2

BASIC AND DILUTED NET LOSS PER COMMON SHARE (Details)	3 Months Ended
	Jun. 30, 2014	Jun. 30, 2013
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]	'	'
Common shares not included in calculating diluted net loss per share	15,724,085	47,530,728
Stock options [Member]	'	'
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]	'	'
Common shares not included in calculating diluted net loss per share	13,242,974	10,040,765
Warrants to purchase common stock [Member]	'	'
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]	'	'
Common shares not included in calculating diluted net loss per share	120,000	11,874,087
Convertible preferred stock and accrued dividends [Member]	'	'
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]	'	'
Common shares not included in calculating diluted net loss per share	0	25,615,876
5% Convertible notes [Member]	'	'
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]	'	'
Common shares not included in calculating diluted net loss per share	2,361,111	0

BASIC_AND_DILUTED_NET_LOSS_PER3

BASIC AND DILUTED NET LOSS PER COMMON SHARE (Details Textual) (Convertible Notes Payable [Member])	Jun. 30, 2014	Mar. 31, 2014
Convertible Notes Payable [Member]	'	'
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]	'	'
Debt Instrument, Interest Rate, Stated Percentage	5.00%	5.00%

INVENTORIES_Details

INVENTORIES (Details) (USD $)	Jun. 30, 2014	Mar. 31, 2014
Inventory [Line Items]	'	'
Raw materials	$9,050,528	$4,502,234
Finished goods - net	10,498,012	10,147,795
Total	$19,548,540	$14,650,029

INVENTORIES_Details_Textual

INVENTORIES (Details Textual) (USD $)	Jun. 30, 2014	Apr. 30, 2014	Mar. 31, 2014	Oct. 31, 2013	Mar. 31, 2013
Inventory [Line Items]	'	'	'	'	'
Percentage Of Raw Materials Located Outside United States	12.00%	'	19.00%	'	'
Percentage Of Finished Goods Located Outside United States	6.00%	'	5.00%	'	'
Payments To Acquire Inventory	'	$4,237,500	'	$847,500	$2,496,000

EQUITY_INVESTMENT_Details_Text

EQUITY INVESTMENT (Details Textual) (DPCP [Member], USD $)	3 Months Ended
	Jun. 30, 2013	Jun. 30, 2014	Mar. 31, 2014
DPCP [Member]	'	'	'
Schedule of Equity Method Investments [Line Items]	'	'	'
Payment To Acquire Finished Goods	$170,880	'	'
Equity Method Investment, Ownership Percentage	'	20.00%	20.00%
Interest On Capital Contribution	$2,100	'	'

ACQUISITIONS_Details_Textual

ACQUISITIONS (Details Textual) (USD $)	3 Months Ended
	Jun. 30, 2014	Jun. 30, 2013
Business Acquisition [Line Items]	'	'
Payments under McLain & Kyne agreement	$0	$5,940

GOODWILL_AND_INTANGIBLE_ASSETS2

GOODWILL AND INTANGIBLE ASSETS (Details) (USD $)	Jun. 30, 2014		Mar. 31, 2014
Finite-Lived Intangible Assets [Line Items]	'		'
Definite life brands	$170,000		$170,000
Trademarks	535,947		535,947
Rights	8,271,555		8,271,555
Product development	96,959		96,959
Patents	994,000		994,000
Other	60,460		55,460
Finite-Lived Intangible Assets, Gross	10,128,921		10,123,921
Less: accumulated amortization	6,220,366		6,058,005
Net	3,908,555		4,065,916
Other identifiable intangible assets - indefinite lived	4,112,972	[1]	4,112,972	[1]
Intangible Assets, Net (Excluding Goodwill)	$8,021,527		$8,178,888
[1]	Other identifiable intangible assets - indefinite lived consists of product formulations.

GOODWILL_AND_INTANGIBLE_ASSETS3

GOODWILL AND INTANGIBLE ASSETS (Details 1) (USD $)	Jun. 30, 2014	Mar. 31, 2014
Finite-Lived Intangible Assets [Line Items]	'	'
Accumulated amortization	$6,220,366	$6,058,005
Definite Life Brands [Member]	'	'
Finite-Lived Intangible Assets [Line Items]	'	'
Accumulated amortization	170,000	170,000
Trademarks [Member]	'	'
Finite-Lived Intangible Assets [Line Items]	'	'
Accumulated amortization	269,904	262,098
Rights [Member]	'	'
Finite-Lived Intangible Assets [Line Items]	'	'
Accumulated amortization	5,099,159	4,961,170
Product Development [Member]	'	'
Finite-Lived Intangible Assets [Line Items]	'	'
Accumulated amortization	20,350	20,350
Patents [Member]	'	'
Finite-Lived Intangible Assets [Line Items]	'	'
Accumulated amortization	660,953	644,387
Other Intangible Assets [Member]	'	'
Finite-Lived Intangible Assets [Line Items]	'	'
Accumulated amortization	$0	$0

GOODWILL_AND_INTANGIBLE_ASSETS4

GOODWILL AND INTANGIBLE ASSETS (Details Textual) (USD $)	Jun. 30, 2014	Mar. 31, 2014
Goodwill	$496,226	$496,226

RESTRICTED_CASH_Details_Textua

RESTRICTED CASH (Details Textual)	Jun. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Mar. 31, 2014
	USD ($)	EUR (€)	USD ($)	EUR (€)
Restricted Cash and Cash Equivalents Items [Line Items]	'	'	'	'
Restricted Cash and Cash Equivalents, Noncurrent	$413,623	€ 303,128	$416,565	€ 302,920

NOTES_PAYABLE_Details

NOTES PAYABLE (Details) (USD $)	Jun. 30, 2014		Mar. 31, 2014
Debt Instrument [Line Items]	'		'
Notes payable and credit facility	$10,883,205		$7,574,822
Foreign revolving credit facilities [Member]	'		'
Debt Instrument [Line Items]	'		'
Notes payable and credit facility	125,855	[1]	20,205	[1]
Note payable - GCP note [Member]	'		'
Debt Instrument [Line Items]	'		'
Notes payable and credit facility	214,225	[2]	211,580	[2]
Keltic facility [Member]	'		'
Debt Instrument [Line Items]	'		'
Notes payable and credit facility	5,414,425	[3]	1,953,037	[3]
Bourbon term loan [Member]	'		'
Debt Instrument [Line Items]	'		'
Notes payable and credit facility	1,753,700	[4]	2,015,000	[4]
Junior loan [Member]	'		'
Debt Instrument [Line Items]	'		'
Notes payable and credit facility	1,250,000	[5]	1,250,000	[5]
Convertible Notes Payable [Member]	'		'
Debt Instrument [Line Items]	'		'
Notes payable and credit facility	$2,125,000	[6]	$2,125,000	[6]
[1]	The Company has arranged various facilities aggregating € or $ (translated at the June 30, 2014 exchange rate) with an Irish bank, including overdraft coverage, creditors' insurance, customs and excise guaranty, and a revolving credit facility. These facilities are payable on demand, continue until terminated by either party, are subject to annual review, and call for interest at the lender's AA1 Rate minus 1.70 %. The balance on the credit facilities included in notes payable totaled €, or $ (translated at the June 30, 2014 exchange rate), and €14,693, or $20,205 (translated at the March 31, 2014 exchange rate), at June 30 and March 31, 2014, respectively.
[2]	In December 2009, GCP issued a promissory note (the "GCP Note") in the aggregate principal amount of $211,580 to Gosling's Export (Bermuda) Limited in exchange for credits issued on certain inventory purchases. The GCP Note matures on April 1, 2020, is payable at maturity, subject to certain acceleration events, and calls for annual interest of 5%, to be accrued and paid at maturity At March 31, 2014, $10,579 of accrued interest was converted to amounts due to affiliates. At June 30, 2014, $214,225, consisting of $211,580 of principal and $2,645 of accrued interest, due on the GCP Note is included in long-term liabilities. At March 31, 2014, $211,580 of principal due on the GCP Note is included in long-term liabilities.
[3]	In August 2011, the Company and CB-USA entered into the Keltic Facility (bKeltic Facilityb), a revolving loan agreement with Ares Management LLC, as successor in interest to Keltic Financial Partners II, LP ("Keltic") providing for availability (subject to certain terms and conditions) of a facility of up to $5,000,000 for the purpose of providing the Company and CB-USA with working capital. In July 2012, the Keltic Facility was amended to increase availability to $7,000,000, among other changes. In March 2013, the Keltic Facility was amended to increase availability to $8,000,000, among other changes. In August 2013, the Keltic Facility was amended to modify the borrowing base calculation and covenants with respect to the Keltic Facility and permit the Company to make regularly scheduled payments of principal and interest and voluntary prepayments on the Junior Loan (as defined below), subject to certain conditions set forth in the amendment, to modify certain aspects of the EBITDA covenant contained in the loan agreement, permit the Company to incur indebtedness in an aggregate original principal amount of $2,125,000 pursuant to the terms of the Note Purchase Agreement and Convertible Notes (as each term is defined below in Note 8F), and permit the Company to make regularly scheduled payments of principal and interest and voluntary prepayments on the Convertible Notes, subject to certain conditions set forth in the amendment. In November 2013, the Keltic Facility was further amended, to, among other things, provide for the issuances of letters of credit thereunder. In August 2014, the Keltic Facility was further amended to modify certain aspects of the EBITDA covenant contained in the loan agreement for the periods ending June 30 and September 30, 2014. The Company and CB-USA are referred to individually and collectively as the Borrower. The Keltic Facility expires on December 31, 2016. The Borrower may borrow up to the maximum amount of the Keltic Facility, provided that the Borrower has a sufficient borrowing base (as defined under the loan agreement). The Keltic Facility interest rate is the rate that, when annualized, is the greatest of (a) the Prime Rate plus 3.25%, (b) the LIBOR Rate plus 5.75% and (c) 6.50%. For the three months ended June 30, 2014, the Company paid interest at 6.5%. Interest is payable monthly in arrears, on the first day of every month on the average daily unpaid principal amount of the Keltic Facility. After the occurrence and during the continuance of any "Default" or "Event of Default" (as defined under the loan agreement), the Borrower is required to pay interest at a rate that is 3.25% per annum above the then applicable Keltic Facility interest rate. There have been no Events of Default under the Keltic Facility. The Company paid a $40,000 commitment fee in connection with the first amendment, a $70,000 closing and commitment fee in connection with the second amendment and a $25,000 closing and commitment fee in connection with the third amendment. Keltic also receives an annual facility fee in an amount equal to 1% per annum of the maximum revolving facility amount and a collateral management fee of $1,000 per month (increased to $2,000 after the occurrence of and during the continuance of an Event of Default). The loan agreement contains standard borrower representations and warranties for asset-based borrowing and a number of reporting obligations and affirmative and negative covenants. The loan agreement includes negative covenants that, among other things, restrict the Borrowerbs ability to create additional indebtedness, dispose of properties, incur liens and make distributions or cash dividends. At June 30, 2014, the Company was in compliance, in all material respects, with the covenants under the Keltic Facility. At June 30 and March 31, 2014, $5,414,425 and $1,953,037, respectively, due on the Keltic Facility is included in long-term liabilities.
[4]	In March 2013, the Company and CB-USA entered into an inventory term loan of $2,496,000 (the "Bourbon Term Loan") that was used to purchase bourbon inventory on March 11, 2013. Unless sooner terminated in accordance with its terms, the Bourbon Term Loan matures on December 31, 2016. The Bourbon Term Loan interest rate is the rate that, when annualized, is the greatest of (a) the Prime Rate plus 4.25%, (b) the LIBOR Rate plus 6.75% and (c) 7.50%. For the three months ended June 30, 2014, the Company paid interest of 7.5%. Interest is payable monthly in arrears, on the first day of every month on the average daily unpaid principal amount of the Bourbon Term Loan. After the occurrence and during the continuance of any "Default" or "Event of Default" (as defined under the loan agreement), the Borrower is required to pay interest at a rate that is 3.25% per annum above the then applicable Bourbon Term Loan interest rate. The Borrower is required to pay down the principal balance of the Bourbon Term Loan within 15 banking days from the completion of a bottling run of bourbon from the bourbon inventory stock purchased on or about the date of the Bourbon Term Loan in an amount equal to the purchase price of such bourbon. The unpaid principal balance of the Bourbon Term Loan, all accrued and unpaid interest thereon, all fees, costs and expenses payable in connection with the Bourbon Term Loan are due and payable in full on December 31, 2016. Keltic required as a condition to funding the Bourbon Term Loan that Keltic had entered into a participation agreement (the "Participation Agreement") providing for an initial aggregate of $750,000 of the Bourbon Term Loan to be purchased by junior participants. Certain related parties of the Company purchased a portion of these junior participations in the Bourbon Term Loan, including Frost Gamma Investments Trust ($500,000), an entity affiliated with Phillip Frost, M.D., a director and principal shareholder of the Company, Mark E. Andrews, III ($50,000), a director of the Company and the Company's Chairman, and an affiliate of Richard J. Lampen ($50,000), a director of the Company and the Companybs President and Chief Executive Officer (amounts shown are initial purchase amounts). Under the terms of the Participation Agreement, the junior participants receive interest at the rate of 11% per annum. Neither the Company nor CB-USA is a party to the Participation Agreement. However, the Borrower is party to a fee letter (the "Fee Letter") with the junior participants (including the related party junior participants) pursuant to which the Borrower is obligated to pay the junior participants an aggregate commitment fee of $45,000 in three equal annual installments of $15,000. In August 2013, the Bourbon Term Loan was amended to provide the Company with the ability to increase the maximum aggregate principal amount of the Bourbon Term Loan from $2,500,000 to up to $4,000,000 to finance the purchase of aged whiskies following the identification of junior participants to purchase a portion of the increased Bourbon Term Loan amount. The balance on the Bourbon Term Loan included in notes payable totaled $ and $2,015,000 at June 30 and March 31, 2014, respectively.
[5]	In August 2013, the Company entered into a Loan Agreement (the "Junior Loan Agreement"), by and between the Company and the lending parties thereto (the "Junior Lenders"), which provides for an aggregate $1,250,000 unsecured loan (the "Junior Loan") to the Company. The Junior Loan bears interest at a rate of 11 % per annum, payable quarterly in arrears commencing November 1, 2013, and matures on October 15, 2015. The Junior Loan may be prepaid in whole or in part at any time without penalty or premium but with payment of accrued interest to the date of prepayment. The Junior Loan Agreement contains customary events of default, which, if uncured, entitle each Junior Lender to accelerate the due date of the unpaid principal amount of, and all accrued and unpaid interest on, the portion of the Junior Loan made by such Junior Lender. The Junior Loan Agreement provides for a funding fee of 2% per annum on the then outstanding Junior Loan balance (pro-rated for any period of less than one year), payable pro rata among the Junior Lenders on the date of the Junior Loan Agreement and on the first and second anniversaries thereof. The Junior Lenders include Frost Gamma Investments Trust ($200,000), Mark E. Andrews, III ($50,000) and an affiliate of Richard J. Lampen ($50,000). In connection with the Junior Loan Agreement, the Junior Lenders entered into a subordination agreement with Keltic; the Company is not a party to the subordination agreement. At each of June 30 and March 31, 2014, $1,250,000 of principal due on the Junior Loan is included in long-term liabilities.
[6]	In October 2013, the Company entered into a 5% Convertible Subordinated Note Purchase Agreement (the "Note Purchase Agreement"), by and among the Company and the purchasers party thereto, which provided for the issuance of an aggregate initial principal amount of $2,125,000 unsecured subordinated notes (the "Convertible Notes") by the Company. The Convertible Notes bear interest at a rate of 5% per annum, payable quarterly beginning on December 15, 2013 until their maturity date of December 15, 2018. The Convertible Notes and accrued but unpaid interest thereon are convertible in whole or in part from time to time at the option of the holders thereof into shares of the Company's common stock at a conversion price of $0.90 per share (the "Conversion Price"). The Convertible Notes may be prepaid in whole or in part at any time without penalty or premium, but with payment of accrued interest to the date of prepayment. The Convertible Notes contain customary events of default, which, if uncured, entitle each note holder to accelerate the due date of the unpaid principal amount of, and all accrued and unpaid interest on, the Convertible Notes. The purchasers of the Convertible Notes include certain related parties of the Company, including an affiliate of Dr. Phillip Frost ($500,000), Mark E. Andrews, III ($50,000), an affiliate of Richard J. Lampen ($50,000), an affiliate of Glenn Halpryn ($200,000), a director of the Company, Dennis Scholl ($100,000), a director of the Company, and Vector Group Ltd. ($200,000), a more than 5% shareholder of the Company, of which Richard Lampen is an executive officer and Henry Beinstein, a director of the Company, is a director. The Company may forcibly convert all or any part of the Convertible Notes and all accrued but unpaid interest thereon if (i) the average daily volume of the Company's common stock (as reported on the principal market or exchange on which the common stock is listed or quoted for trading) exceeds $50,000 per trading day and (ii) the volume weighted average price of the common stock for at least twenty (20) trading days during any thirty (30) consecutive trading day period exceeds 250% of the then-current conversion price. Any forced conversion will be applied ratably to the holders of all Convertible Notes issued pursuant to the Note Purchase Agreement based on each holder's then-current note holdings. In connection with the Note Purchase Agreement, each purchaser of the Convertible Notes was required to execute a joinder to the subordination agreement, by and among Keltic and certain other junior lenders to the Company; the Company is not a party to the Subordination Agreement. At each of June 30 and March 31, 2014, $2,125,000 of principal due on the Convertible Notes is included in long-term liabilities.

NOTES_PAYABLE_Details_Textual

NOTES PAYABLE (Details Textual)

3 Months Ended

3 Months Ended

3 Months Ended

3 Months Ended

3 Months Ended

9 Months Ended

3 Months Ended

9 Months Ended

3 Months Ended

Jun. 30, 2014

Jun. 30, 2014

Mar. 31, 2014

Mar. 31, 2014

Mar. 31, 2013

Jun. 30, 2014

Dec. 31, 2013

Jun. 30, 2014

Jun. 30, 2014

Mar. 31, 2014

Dec. 31, 2009

Jun. 30, 2014

Jul. 31, 2012

Aug. 31, 2011

Jun. 30, 2014

Jun. 30, 2014

Dec. 31, 2013

Jun. 30, 2014

Mar. 31, 2014

Jun. 30, 2014

Mar. 31, 2014

Dec. 31, 2013

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Mar. 31, 2013

Dec. 31, 2013

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

USD ($)

EUR (€)

USD ($)

EUR (€)

USD ($)

Convertible Subordinated Debt [Member]

Convertible Subordinated Debt [Member]

Convertible Notes Payable [Member]

GCP Note [Member]

GCP Note [Member]

GCP Note [Member]

Keltic Facility [Member]

Keltic Facility [Member]

Keltic Facility [Member]

Irish Bank [Member]

Irish Bank [Member]

Bourbon Term Loan [Member]

Bourbon Term Loan [Member]

Bourbon Term Loan [Member]

Junior Loan [Member]

Junior Loan [Member]

Junior Loan [Member]

Dr. Phillip Frost [Member]

Mark E. Andrews [Member]

Richard J. Lampen [Member]

Glenn Halpryn [Member]

Dennis Scholl [Member]

Vector Group Ltd. [Member]

Frost Gamma Investments Trust [Member]

Frost Gamma Investments Trust [Member]

Mark E Andrews Iii [Member]

Mark E Andrews Iii [Member]

Affiliate Of Richard J Lampen [Member]

Affiliate Of Richard J Lampen [Member]

Second Amendment [Member]

Second Amendment [Member]

Second Amendment [Member]

Participation Agreement [Member]

Amendment Agreement [Member]

Third Amendment [Member]

USD ($)

USD ($)

USD ($)

USD ($)

USD ($)

USD ($)

USD ($)

USD ($)

USD ($)

USD ($)

EUR (€)

USD ($)

USD ($)

USD ($)

USD ($)

USD ($)

USD ($)

USD ($)

USD ($)

USD ($)

USD ($)

Junior Loan [Member]

USD ($)

Junior Loan [Member]

USD ($)

Junior Loan [Member]

Keltic Facility [Member]

Keltic Facility [Member]

Bourbon Term Loan [Member]

Keltic Facility [Member]

Bourbon Term Loan [Member]

Keltic Facility [Member]

USD ($)

USD ($)

USD ($)

USD ($)

USD ($)

USD ($)

USD ($)

USD ($)

Debt Instrument [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Debt Instrument, Interest Rate At Period End

'

'

'

'

'

'

'

'

'

'

5.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Other Accrued Liabilities, Noncurrent

'

'

'

'

'

'

'

'

$2,645

$10,579

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Notes Payable, Noncurrent

214,225

'

211,580

'

'

'

'

'

214,225

211,580

211,580

'

'

'

'

'

'

'

'

'

'

'

500,000

50,000

50,000

200,000

100,000

200,000

'

'

50,000

'

'

'

'

'

'

'

'

'

Line Of Credit Facility, Maximum Borrowing Capacity

'

'

'

'

'

'

'

'

'

'

'

'

7,000,000

5,000,000

302,714

413,059

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

8,000,000

'

'

'

'

Line Of Credit Facility, Interest Rate Description

'

'

'

'

'

'

'

'

'

'

'

'interest rate is the rate that, when annualized, is the greatest of (a) the Prime Rate plus 3.25%, (b) the LIBOR Rate plus 5.75% and (c) 6.50%.

'

'

'

'

'The Bourbon Term Loan interest rate is the rate that, when annualized, is the greatest of (a) the Prime Rate plus 4.25%, (b) the LIBOR Rate plus 6.75% and (c) 7.50%.

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Debt Instrument, Debt Default, Description Of Violation Or Event Of Default

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'After the occurrence and during the continuance of any "Default" or "Event of Default" (as defined under the loan agreement), the Borrower is required to pay interest at a rate that is 3.25% per annum above the then applicable Bourbon Term Loan interest rate. The Borrower is required to pay down the principal balance of the Bourbon Term Loan within 15 banking days from the completion of a bottling run of bourbon from the bourbon inventory stock purchased on or about the date of the Bourbon Term Loan in an amount equal to the purchase price of such bourbon. The unpaid principal balance of the Bourbon Term Loan, all accrued and unpaid interest thereon, all fees, costs and expenses payable in connection with the Bourbon Term Loan are due and payable in full on December 31, 2016.

'

'

'

Line Of Credit Facility, Commitment Fee Amount

'

'

'

'

'

'

'

'

'

'

'

40,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

70,000

'

'

'

'

25,000

Debt Instrument, Interest Rate During Period

'

'

'

'

'

'

'

'

'

'

'

6.50%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Annual Facility Fee Receivable Description

'

'

'

'

'

'

'

'

'

'

'

'annual facility fee in an amount equal to 1% per annum of the maximum revolving facility amount and a collateral management fee of $1,000 per month (increased to $2,000 after the occurrence of and during the continuance of an Event of Default).

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Line Of Credit, Current

125,855

92,234

20,205

14,693

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Line Of Credit Facility, Interest Rate During Period

'

'

'

'

'

'

'

'

'

'

'

'

'

'

1.70%

1.70%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Line Of Credit Facility Additional Interest Rate During Period

'

'

'

'

'

'

'

'

'

'

'

3.25%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Term Loan

1,753,700

'

2,015,000

'

2,496,000

'

'

'

'

'

'

'

'

'

'

'

'

0

2,015,000

'

'

'

'

'

'

'

'

'

500,000

200,000

50,000

50,000

50,000

50,000

'

'

'

750,000

'

'

Commitment Fee Payable

45,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Commitment Fee Annual Installment Amount

15,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Unsecured debt

'

'

'

'

'

2,125,000

2,125,000

'

'

'

'

'

'

'

'

'

'

'

'

1,250,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Debt Instrument, Interest Rate, Stated Percentage

'

'

'

'

'

'

'

5.00%

'

'

'

'

'

'

'

'

'

'

'

'

11.00%

11.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Percentage Of Funding Fee

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

2.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Long-term Debt, Gross

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

2,500,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

4,000,000

'

Debt Instrument, Convertible, Conversion Price

'

'

'

'

'

$0.90

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Debt Instrument, Convertible, If-converted Value in Excess of Principal

'

'

'

'

'

'

'

50,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Debt Instrument, Convertible, Threshold Trading Days

'

'

'

'

'

'

'

20

'

'

'

'

'

'

'

'

'

'

'

'

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Debt Instrument, Convertible, Threshold Consecutive Trading Days

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'30 days

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Debt Instrument, Convertible, Threshold Percentage of Stock Price Trigger

'

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250.00%

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Subordinated Borrowing, Interest Rate

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5.00%

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Convertible Notes Payable, Noncurrent

2,125,000

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2,125,000

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Other Notes Payable, Noncurrent

$1,250,000

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$1,250,000

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EQUITY_Details_Textual

EQUITY (Details Textual) (USD $)	3 Months Ended			9 Months Ended	3 Months Ended	9 Months Ended	0 Months Ended	3 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Mar. 31, 2014	Dec. 31, 2013	Jun. 30, 2014	Dec. 31, 2013	Feb. 11, 2014	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014
				Barrington [Member]	Distribution Agreement [Member]	Distribution Agreement [Member]	Series A Convertible Preferred Stock [Member]	Series A Convertible Preferred Stock [Member]	Series A Convertible Preferred Stock [Member]	Series A Preferred Stock [Member]
Class of Stock [Line Items]	'	'	'	'	'	'	'	'	'	'
Proceeds from Issuance of Common Stock	$1,231,241	$0	'	'	$1,231,241	$6,000,000	'	'	'	'
Compensation Percentage	'	'	'	2.00%	'	'	'	'	'	'
Intercompany Agreements, Description	'	'	'	'Also, the Company will reimburse Barrington for certain expenses incurred in connection with the matters contemplated by the Distribution Agreement, up to an aggregate of $50,000, plus up to an additional $7,500 per calendar quarter related to ongoing maintenance; provided, however, that such reimbursement amount shall not exceed 8% of the aggregate gross proceeds received by the Company under the Distribution Agreement	'	'	'	'	'	'
Stock Issued During Period, Shares, New Issues	'	'	'	'	1,247,343	'	'	'	'	'
Payments of Stock Issuance Costs	38,532	0	'	'	38,532	'	'	'	'	'
Preferred Stock, Dividend Rate, Percentage	'	'	'	'	'	'	'	10.00%	'	'
Dividends, Preferred Stock, Stock	'	'	'	'	'	'	'	$189,932	'	'
Conversion of Stock, Shares Converted	'	'	'	'	'	'	6,271	'	267	'
Conversion of Stock, Shares Issued	'	'	'	'	'	'	25,760,881	'	1,049,492	'
Preferred Stock, Par Or Stated Value Per Share (in dollars per share)	$0.01	'	$0.01	'	'	'	'	'	'	$0.01
Preferred Stock, Dividend Rate, Per-Dollar-Amount	'	'	'	'	'	'	'	'	'	$1,000

WARRANTS_Details

WARRANTS (Details) (Warrant [Member], Fair Value, Inputs, Level 3 [Member], USD $)	3 Months Ended
	Jun. 30, 2014	Jun. 30, 2013
Warrant [Member] | Fair Value, Inputs, Level 3 [Member]	'	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'
Stock price (in dollars per share)	$0.92	$0.38
Risk-free interest rate	0.61%	0.66%
Expected option life in years	'2 years 7 months 17 days	'3 years
Expected stock price volatility	55.00%	40.00%
Expected dividend yield	0.00%	0.00%

WARRANTS_Details_Textual

WARRANTS (Details Textual) (USD $)	1 Months Ended		3 Months Ended	9 Months Ended
	Oct. 31, 2011	Jun. 30, 2011	Jun. 30, 2013	Dec. 31, 2013	Dec. 31, 2011
Class of Warrant or Right [Line Items]	'	'	'	'	'
Warrants Exercisable Period	'	'	'	'	'five years
Convertible Preferred Stock, Terms of Conversion	'	'	'	'	'The exercise price of the 2011 Warrants was equal to 125% of the conversion price of the Series A Preferred Stock.
Warrants Issued At Fair Value	$780,972	$487,022	'	'	'
Adjustments To Additional Paid In Capital Reclassification Of Warrant Liability Into Equity	'	'	'	6,187,968	'
Change In Unrealized Gain Loss On Fair Value Warrants	'	'	477,251	'	'
Number Of Warrants Exercised	'	'	'	1,657,802	'
Proceeds From Exercise Of Series Preferred Stock Warrants	'	'	'	$629,965	'
Series A Preferred Stock [Member]	'	'	'	'	'
Class of Warrant or Right [Line Items]	'	'	'	'	'
Class of Warrant or Right, Exercise Price of Warrants or Rights	'	'	'	'	0.38

STOCKBASED_COMPENSATION_Detail

STOCK-BASED COMPENSATION (Details Textual) (USD $)	3 Months Ended		9 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Dec. 31, 2013
			Director Stock Option Issued In May 2014 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'	'
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross	'	'	2,305,000
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price	'	'	$1
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Date	'	'	30-Jun-24
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights	'	'	'vest 25% on each of the first four anniversaries of the grant date
Share Based Compensation Arrangement By Share Based Payment Award Option Valued	'	'	$1,429,100
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Method Used	'	'	'Black-Scholes option pricing model
Allocated Share-Based Compensation Expense (in dollars)	191,456	72,533	'
Employee Service Share-Based Compensation, Nonvested Awards, Total Compensation Cost Not Yet Recognized (in dollars)	$1,956,809	'	'
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number	6,203,011	'	'
Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1	'2 years 9 months 22 days	'	'
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period	230,033	0	'

COMMITMENTS_AND_CONTINGENCIES_

COMMITMENTS AND CONTINGENCIES (Details Textual)	3 Months Ended
	Jun. 30, 2014	Jun. 30, 2014	Jun. 30, 2014	Jun. 30, 2014	Jun. 30, 2014	Jun. 30, 2014	Jun. 30, 2014	Jun. 30, 2014	Jun. 30, 2014	Jun. 30, 2014
	New York [Member]	Dublin [Member]	Dublin [Member]	Houston, Tx [Member]	Four Contract Year [Member]	Twelve Contract Year [Member]	Irish Whiskey [Member]	Irish Whiskey [Member]	Irish Whiskey [Member]	Irish Whiskey [Member]
	USD ($)	USD ($)	EUR (€)	USD ($)			Four Contract Year [Member]	Four Contract Year [Member]	Twelve Contract Year [Member]	Twelve Contract Year [Member]
							USD ($)	EUR (€)	USD ($)	EUR (€)
Supply Commitment [Line Items]	'	'	'	'	'	'	'	'	'	'
Long-term Purchase Commitment, Amount	'	'	'	'	'	'	$1,057,042	€ 774,662	$414,811	€ 303,998
Operating Leases, Income Statement, Contingent Revenue	$19,975	$1,501	€ 1,100	$1,875	'	'	'	'	'	'
Long Term Purchase Commitment Percentage Agreed To Purchase	'	'	'	'	90.00%	80.00%	'	'	'	'

CONCENTRATIONS_Details_Textual

CONCENTRATIONS (Details Textual) (USD $)	3 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Mar. 31, 2014
Concentration Risk [Line Items]	'	'	'
Cash, Uninsured Amount	$570,000	'	$725,000
Concentration Risk, Percentage	100.00%	100.00%	'
Customer Concentration Risk [Member] | Sales Revenue, Goods, Net [Member]	'	'	'
Concentration Risk [Line Items]	'	'	'
Concentration Risk, Percentage	29.30%	33.60%	'
Customer Concentration Risk [Member] | Accounts Receivable [Member]	'	'	'
Concentration Risk [Line Items]	'	'	'
Concentration Risk, Percentage	31.00%	'	'

GEOGRAPHIC_INFORMATION_Details

GEOGRAPHIC INFORMATION (Details) (USD $)	3 Months Ended
	Jun. 30, 2014		Jun. 30, 2013		Mar. 31, 2014
Consolidated Revenue:	'		'		'
Total Consolidated Revenue	$11,982,199	[1]	$10,418,617	[1]	'
Concentration Risk, Percentage	100.00%		100.00%		'
Consolidated Results from Operations:	'		'		'
Total Consolidated Loss from Operations	-519,386		-455,648		'
Operating Income (Loss), Percentage	100.00%		100.00%		'
Consolidated Net Loss Attributable to Controlling Interests:	'		'		'
Total Consolidated Net Loss Attributable to Controlling Interests	-1,495,831		-1,292,833		'
Net Income (Loss) Attributable To Common Shareholders	100.00%		100.00%		'
Income tax (expense) benefit:	'		'		'
Income tax (expense) benefit	-162,962		37,038		'
Consolidated Assets:	'		'		'
Total Consolidated Assets	39,615,004		'		36,521,510
Assets Percentage	100.00%		'		100.00%
Foreign Tax Authority [Member]	'		'		'
Consolidated Revenue:	'		'		'
Total Consolidated Revenue	1,578,730		1,503,830		'
Concentration Risk, Percentage	13.20%		14.60%		'
Consolidated Results from Operations:	'		'		'
Total Consolidated Loss from Operations	-27,017		40,681		'
Operating Income (Loss), Percentage	5.20%		-8.90%		'
Consolidated Net Loss Attributable to Controlling Interests:	'		'		'
Total Consolidated Net Loss Attributable to Controlling Interests	-60,633		16,623		'
Net Income (Loss) Attributable To Common Shareholders	4.10%		-1.30%		'
Consolidated Assets:	'		'		'
Total Consolidated Assets	2,551,001		'		2,201,343
Assets Percentage	6.40%		'		6.00%
Domestic Tax Authority [Member]	'		'		'
Consolidated Revenue:	'		'		'
Total Consolidated Revenue	10,403,469		8,914,787		'
Concentration Risk, Percentage	86.80%		85.40%		'
Consolidated Results from Operations:	'		'		'
Total Consolidated Loss from Operations	-492,369		-496,319		'
Operating Income (Loss), Percentage	94.80%		108.90%		'
Consolidated Net Loss Attributable to Controlling Interests:	'		'		'
Total Consolidated Net Loss Attributable to Controlling Interests	-1,435,198		-1,309,450		'
Net Income (Loss) Attributable To Common Shareholders	95.90%		101.30%		'
Income tax (expense) benefit:	'		'		'
Income tax (expense) benefit	-162,962		37,038		'
Income tax (expense) benefit, Percentage	100.00%		100.00%		'
Consolidated Assets:	'		'		'
Total Consolidated Assets	37,244,003		'		34,320,167
Assets Percentage	93.60%		'		94.00%
Rum [Member]	'		'		'
Consolidated Assets:	'		'		'
Total Consolidated Assets	4,292,195		4,213,771		'
Assets Percentage	35.80%		40.40%		'
Whiskey [Member]	'		'		'
Consolidated Assets:	'		'		'
Total Consolidated Assets	3,012,079		2,295,228		'
Assets Percentage	25.10%		22.00%		'
Liqueur [Member]	'		'		'
Consolidated Assets:	'		'		'
Total Consolidated Assets	1,902,443		1,870,806		'
Assets Percentage	15.90%		18.00%		'
Vodka [Member]	'		'		'
Consolidated Assets:	'		'		'
Total Consolidated Assets	520,583		589,649		'
Assets Percentage	4.30%		5.70%		'
Tequila [Member]	'		'		'
Consolidated Assets:	'		'		'
Total Consolidated Assets	85,329		59,902		'
Assets Percentage	0.70%		0.60%		'
Wine [Member]	'		'		'
Consolidated Assets:	'		'		'
Total Consolidated Assets	0		114,610		'
Assets Percentage	0.00%		1.10%		'
Gosling's Stormy Ginger Beer and other [Member]	'		'		'
Consolidated Assets:	'		'		'
Total Consolidated Assets	$2,169,570	[2]	$1,274,651	[2]	'
Assets Percentage	18.20%	[2]	12.20%	[2]	'
[1]	Sales, net and Cost of sales include excise taxes of $1,485,515 and $1,424,220 for the three months ended June 30, 2014 and 2013, respectively.
[2]	Includes related non-beverage alcohol products.