Castle Brands (ROX) 10-Q 9 Aug 19 2020 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Jun. 30, 2019	Aug. 07, 2019
Document And Entity Information
Entity Registrant Name	Castle Brands Inc
Entity Central Index Key	0001311538
Document Type	10-Q
Document Period End Date	Jun. 30, 2019
Amendment Flag	false
Current Fiscal Year End Date	--03-31
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business Flag	false
Entity Emerging Growth Company	false
Entity Ex Transition Period	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		170,282,894
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2020

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($)	Jun. 30, 2019	Mar. 31, 2019
Current Assets
Cash and cash equivalents	$ 498,176	$ 517,309
Accounts receivable - net of allowance for doubtful accounts of $ 508,811 and $476,116 at June 30 and March 31, 2019, respectively	14,222,854	16,494,234
Due from related parties	6,183
Inventories - net of allowance for obsolete and slow-moving inventory of $411,270 and $423,913 at June 30 and March 31, 2019, respectively	46,142,422	44,232,340
Prepaid expenses and other current assets	5,232,194	5,751,382
Total Current Assets	66,101,829	66,995,265
Equipment - net	691,072	724,597
Intangible assets - net of accumulated amortization of $8,733,119 and $8,689,254 at June 30 and March 31, 2019, respectively	5,721,079	5,764,944
Right-of-use assets - operating leases	322,391
Right-of-use assets - finance leases	60,077
Goodwill	496,226	496,226
Investment in non-consolidated affiliate, at equity	956,013	960,853
Deferred tax assets	10,145,108	9,552,385
Restricted cash	352,755	352,428
Other assets	103,473	133,868
Total Assets	84,950,023	84,980,566
Current Liabilities
Current maturities of notes payable	326,613	87,678
Accounts payable	12,879,183	11,375,965
Accrued expenses	2,705,327	3,849,178
Lease liabilities - operating leases	249,096
Lease liabilities - finance leases	18,820
Due to shareholders and affiliates	2,186,388	2,733,759
Total Current Liabilities	18,365,427	18,046,580
Long-Term Liabilities
Credit facility, net (including $834,167 of related-party participation at June 30 and March 31, 2019)	26,759,606	26,814,941
Lease liabilities - operating leases	41,708
Lease liabilities - finance leases	41,832
Notes payable - 11% Subordinated note	20,000,000	20,000,000
Notes payable - GCP Note		211,580
Deferred tax liability	514,121	514,121
Other	43,816	43,816
Total Liabilities	65,766,510	65,631,038
Commitments and Contingencies (Note 14)
Equity
Preferred stock, $.01 par value, 25,000,000 shares authorized, no shares issued and outstanding at June 30 and March 31, 2019
Common stock, $.01 par value, 300,000,000 shares authorized at June 30 and March 31, 2019, 169,273,927 and 169,107,996 shares issued and outstanding at June 30 and March 31, 2019, respectively	1,692,740	1,691,080
Additional paid-in capital	157,895,754	157,342,730
Accumulated deficit	(145,098,551)	(144,227,656)
Accumulated other comprehensive loss	(2,194,314)	(2,207,018)
Total controlling shareholders' equity	12,295,629	12,599,136
Noncontrolling interests	6,887,884	6,750,392
Total Equity, including noncontrolling interests	19,183,513	19,349,528
Total Liabilities and Equity	$ 84,950,023	$ 84,980,566

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($)	Jun. 30, 2019	Mar. 31, 2019
Statement of Financial Position [Abstract]
Allowance for doubtful accounts receivable	$ 508,811	$ 476,116
Allowance for obsolete and slow moving inventory	411,270	423,913
Accumulated amortization of intangible assets	8,733,119	8,689,254
Credit facility, related-party participation	$ 834,167	$ 834,167
Subordinated note payable, percent	11.00%	11.00%
Preferred stock, par value	$ .01	$ .01
Preferred stock, shares authorized	25,000,000	25,000,000
Preferred stock, shares issued
Preferred stock, shares outstanding
Common stock, par value	$ .01	$ .01
Common stock, shares authorized	300,000,000	300,000,000
Common stock, shares issued	169,273,927	169,107,996
Common stock, shares outstanding	169,273,927	169,107,996

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($)		3 Months Ended
		Jun. 30, 2019	Jun. 30, 2018
Income Statement [Abstract]
Sales, net		$ 22,635,741	$ 23,104,388
Cost of sales	[1]	13,794,530	13,844,836
Gross profit		8,841,211	9,259,552
Selling expense		6,259,002	5,821,890
General and administrative expense		2,489,192	2,517,266
Depreciation and amortization		123,238	235,792
(Loss) income from operations		(30,221)	684,604
Other expense, net		(1,192)	(405)
(Loss) income from equity investment in non-consolidated affiliate		(4,840)	34,028
Foreign exchange (loss) gain		(71,324)	44,464
Interest expense, net		(1,207,845)	(1,051,942)
Loss before provision for income taxes		(1,315,422)	(289,251)
Income tax benefit (expense), net		582,019	(18,115)
Net loss		(733,403)	(307,366)
Net income attributable to noncontrolling interests		(137,492)	(383,341)
Net loss attributable to common shareholders		$ (870,895)	$ (690,707)
Net loss per common share, basic and diluted, attributable to common shareholders		$ (0.01)	$ 0
Weighted average shares used in computation, basic and diluted, attributable to common shareholders		167,577,755	165,520,314
[1]	Sales, net and Cost of sales include excise taxes of $1,364,333 and $1,834,254 for the three months ended June 30, 2019 and 2018, respectively.

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Operations (Parenthetical) - USD ($)	3 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Income Statement [Abstract]
Excise taxes	$ 1,364,333	$ 1,834,254

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($)	3 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Statement of Comprehensive Income [Abstract]
Net loss	$ (733,403)	$ (307,366)
Other comprehensive income (loss):
Foreign currency translation adjustment	12,704	(76,329)
Total other comprehensive income (loss):	12,704	(76,329)
Comprehensive loss	$ (720,699)	$ (383,695)

Condensed Consolidated Statem_4

Condensed Consolidated Statement of Changes in Equity (Unaudited) - USD ($)	Common Stock [Member]	Additional Paid-in Capital [Member]	Accumulated Deficit [Member]	Accumulated Other Comprehensive (Loss) [Member]	Noncontrolling Interests [Member]	Total
Balance at Mar. 31, 2018	$ 1,663,307	$ 154,731,044	$ (149,891,272)	$ (2,082,011)	$ 3,568,636	$ 7,989,704
Balance, shares at Mar. 31, 2018	166,330,733
Net loss			(690,707)		383,341	(307,366)
Foreign currency translation adjustment				(76,329)		(76,329)
Exercise of common stock options	$ 5,032	210,984				$ 216,016
Exercise of common stock options, shares	503,166					503,166
Restricted share grants	$ 11,000	(11,000)
Restricted share grants, shares	1,100,000
Common stock purchased under employee stock purchase plan	$ 419	40,540				40,959
Common stock purchased under employee stock purchase plan, shares	41,902
Stock-based compensation		490,485				490,485
Balance at Jun. 30, 2018	$ 1,679,758	155,462,053	(150,581,979)	(2,158,340)	3,951,977	8,353,469
Balance, shares at Jun. 30, 2018	167,975,801
Balance at Mar. 31, 2019	$ 1,691,080	157,342,730	(144,227,656)	(2,207,018)	6,750,392	19,349,528
Balance, shares at Mar. 31, 2019	169,107,996
Net loss			(870,895)		137,492	(733,403)
Foreign currency translation adjustment				12,704		12,704
Exercise of common stock options	$ 1,710	58,140				$ 59,850
Exercise of common stock options, shares	171,000					171,000
Restricted shares forfeited	$ (606)	606
Restricted shares forfeited, shares	(60,633)
Common stock purchased under employee stock purchase plan	$ 556	55,008				55,564
Common stock purchased under employee stock purchase plan, shares	55,564
Stock-based compensation		439,270				439,270
Balance at Jun. 30, 2019	$ 1,692,740	$ 157,895,754	$ (145,098,551)	$ (2,194,314)	$ 6,887,884	$ 19,183,513
Balance, shares at Jun. 30, 2019	169,273,927

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (733,403)	$ (307,366)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	123,238	235,792
Provision for doubtful accounts	15,000	14,559
Amortization of right-of-use assets	5,038
Amortization of deferred financing costs	34,448	42,680
Deferred income tax benefit, net	(592,723)	60
Net (loss) income from equity investment in non-consolidated affiliate	4,840	(34,028)
Effect of changes in foreign currency translation	71,324	(44,464)
Stock-based compensation expense	439,270	490,485
Addition to provision for obsolete inventories		13,046
Changes in operations, assets and liabilities:
Accounts receivable	2,259,558	1,229,090
Due from affiliates	(6,183)
Inventory	(1,967,158)	(3,476,002)
Prepaid expenses and supplies	519,415	(43,348)
Other assets	(3,001)	(25,756)
Accounts payable and accrued expenses	351,514	(1,439,760)
Accrued interest	2,645	2,645
Due to related parties	(547,372)	(525,227)
Total adjustments	704,815	(3,560,228)
NET CASH USED IN OPERATING ACTIVITIES	(28,588)	(3,867,594)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of equipment	(41,194)	(85,282)
NET CASH USED IN INVESTING ACTIVITIES	(41,194)	(85,282)
CASH FLOWS FROM FINANCING ACTIVITIES:
Net (payments on) proceeds from credit facility	(56,387)	3,971,018
Net proceeds from (payments on) foreign revolving credit facility	23,276	(22,675)
Proceeds from issuance of common stock under employee stock purchase plan	55,564	40,959
Proceeds from exercise of common stock options	59,850	216,018
NET CASH PROVIDED BY FINANCING ACTIVITIES	82,303	4,205,320
EFFECTS OF FOREIGN CURRENCY TRANSLATION	(31,327)	(34,825)
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS	(18,806)	217,619
CASH AND CASH EQUIVALENTS INCLUDING RESTRICTED CASH - BEGINNING	869,737	759,266
CASH AND CASH EQUIVALENTS	498,176	614,402
RESTRICTED CASH	352,755	362,483
CASH AND CASH EQUIVALENTS INCLUDING RESTRICTED CASH - ENDING	850,931	976,885
SUPPLEMENTAL DISCLOSURES:
Interest paid	1,184,838	1,003,589
Income taxes paid

Organization and Summary of Sig

Organization and Summary of Significant Accounting Policies	3 Months Ended
	Jun. 30, 2019
Accounting Policies [Abstract]
Organization and Summary of Significant Accounting Policies	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, 2019 is derived from the March 31, 2019 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, 2019 included in the Company’s annual report on Form 10-K for the year ended March 31, 2019, as amended (“2018 Form 10-K”). Please refer to the notes to the audited consolidated financial statements included in the 2019 Form 10-K for additional disclosures and a description of accounting policies. A. Description of business B. Liquidity C. Organization and operations D. Revenues The Company does not ship product unless it has received an order or other documentation authorizing delivery to its customers. Revenue is measured as the amount of consideration the Company expects to receive in exchange for transferring goods. The Company generally does not provide post-delivery services and does not offer a right-of-return except in the case of an error. Uncollectable accounts receivable are estimated by using a combination of historical customer experience and a customer-by-customer analysis. The Company’s payment terms vary by customer and, in certain cases, the products offered. The term between invoicing and when payment is due is not significant. As permitted under U.S. GAAP, the Company has elected not to assess whether a contract has a significant financing component if the expectation at contract inception is such that the period between payment by the customer and the transfer of the promised goods to the customer will be one year or less. As permitted under U.S. GAAP, the Company has elected to recognize the incremental costs of obtaining a contract as an expense when incurred as the amortization period of the asset that the Company otherwise would have recognized will be one year or less. As permitted under U.S. GAAP, the Company has elected to exclude from the measurement of the transaction price all taxes assessed by a governmental authority that are both imposed on and concurrent with a specific revenue-producing transaction and collected by the Company from a customer, i.e excise taxes (see note 1H). As permitted under U.S. GAAP, the Company has elected to account for any shipping and handling activities that occur after a customer obtains control of any goods as activities to fulfill the promise to transfer the goods, and the Company is not required to evaluate whether such shipping and handling activities are promised services to its customers. See Note 14 for disaggregation of revenue by product as the Company believes this best depicts how the nature, amount, timing and uncertainty of its revenues and cash flows are affected by economic factors. The Company does not have any customer contracts that meet the definition of unsatisfied performance obligations in accordance with U.S. GAAP. E. Equity investments F. Goodwill and other intangible assets G. Impairment of long-lived assets H. Excise taxes and duty I. Foreign currency J. Fair value of financial instruments 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. K. Income taxes Under ASC 740, 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 adopted the provisions of ASC 740-10 and as of June 30, 2019, the Company had reserves for uncertain tax positions (including related interest and penalties) for various state and local taxes of $43,816. The Company recognizes interest and penalties related to uncertain tax positions in general and administrative expense. L. Recent accounting pronouncements In October 2018, the FASB issued ASU No. 2018-16, Inclusion of the Secured Overnight Financing Rate (“SOFR”) Overnight Index Swap (“OIS”) Rate as a Benchmark Interest Rate for Hedge Accounting Purposes (“ASU 2018-16”), which amends ASC 815, Derivatives and Hedging. This ASU adds the OIS rate based on SOFR to the list of permissible benchmark rates for hedge accounting purposes. The amendments are effective for fiscal years beginning after December 15, 2019, and interim periods within those fiscal years. Adoption of ASU 2018-16 will be on a prospective basis for qualifying new or redesignated hedging relationships entered into on or after the date of adoption. 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 and financial condition. In August 2018, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2018-15, Intangibles - Goodwill and Other Internal Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract. The amendments in this update align the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software. ASU 2018-15 is effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. Early adoption is permitted. 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 and financial condition. In August 2018, the FASB issued ASU 2018-13, “Fair Value Measurement (Topic 820): Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement.” This ASU adds, modifies and removes several disclosure requirements relative to the three levels of inputs used to measure fair value in accordance with Topic 820, “Fair Value Measurement.” This guidance is effective for the Company as of April 1, 2020, with early adoption permitted. 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 and financial condition. In July 2018, the FASB issued ASU 2018-09, “Codification Improvements.” This ASU makes amendments to a wide variety of codification topics in the FASB’s Accounting Standards Codification. The transition and effective date guidance is based on the facts and circumstances of each amendment. Some of the amendments in this ASU do not require transition guidance and will be effective upon issuance of this ASU. However, many of the amendments in this ASU do have transition guidance with effective dates for annual periods beginning after December 15, 2018. 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 and financial condition. In June 2016, the FASB issued ASU 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. This ASU amends the requirement on the measurement and recognition of expected credit losses for financial assets held. The ASU is effective for annual periods beginning after December 15, 2019 and interim periods within those annual periods. Early adoption is permitted, but not earlier than annual and interim periods beginning after December 15, 2018. This amendment should be applied on a modified retrospective basis with a cumulative effect adjustment to retained earnings as of the beginning of the period of adoption. 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 and financial condition. The Company does not believe that any other recently issued, but not yet effective, accounting standards, if currently adopted, would have a material effect on the accompanying condensed consolidated financial statements. M. Accounting standards adopted In February 2016, the FASB issued ASU 2016-02, Leases (“ASU 2016-02”), which provides guidance for accounting for leases. ASU 2016-02 requires lessees to classify leases as either finance or operating leases and to record a right-of-use asset and a lease liability for all leases with a term greater than 12 months regardless of the lease classification. The lease classification will determine whether the lease expense is recognized based on an effective interest rate method or on a straight-line basis over the term of the lease. For leases with a term of 12 months or less for which there is not an option to purchase the underlying asset that the lessee is reasonably certain to exercise, a lessee is permitted to make an accounting policy election by class of underlying asset not to recognize lease assets and lease liabilities and should recognize lease expense for such leases generally on a straight-line basis over the lease term. Certain qualitative disclosures along with specific quantitative disclosures will be required so that users are able to understand more about the nature of an entity’s leasing activities. Accounting for lessors remains largely unchanged from current U.S. GAAP. In July 2018, the FASB issued ASU 2018-10, Codification Improvements to Topic 842, Leases and ASU 2018-11 “Leases (Topic 842): Targeted Improvements” (ASU 2018-11). ASU 2018-10 clarifies certain areas within ASU 2016-02. Prior to ASU 2018-11, a modified retrospective transition was required for financing or operating leases existing at or entered into after the beginning of the earliest comparative period presented in the financial statements. ASU 2018-11 allows entities an additional transition method to the existing requirements whereby an entity could adopt the provisions of ASU 2016-02 by recognizing a cumulative-effect adjustment to the opening balance of retained earnings in the period of adoption without adjustment to the financial statements for periods prior to adoption. ASU 2018-11 also allows a practical expedient that permits lessors to not separate non-lease components from the associated lease component if certain conditions are present. An entity that elects to use the practical expedients will, in effect, continue to account for leases that commenced before the effective date in accordance with previous GAAP unless the lease is modified, except that lessees are required to recognize a right-of-use asset and a lease liability for all operating leases at each reporting date based on the present value of the remaining minimum rental payments that were tracked and disclosed under previous GAAP. ASU 2016-02, ASU 2018-10 and ASU 2018-11 became effective for the Company as of April 1, 2019. The Company employed the available practical expedients consistently to all of its office and office equipment leases, supply and warehousing agreements determined to be subject to the standard. The expedients granted the Company the ability to forgo reassessing lease classifications and whether any expired or existing contracts are, or contain, leases. The Company followed the guidance of ASU 2018-11 and did not recast its comparative periods. The comparative periods will follow the guidance of ASC 840, while the current period will follow the guidance of the new ASC 842. The Company elected to utilize the transition package of practical expedients permitted within the new standard, which among other things, allowed the Company to carryforward the historical lease classification. The Company made an accounting policy election that will exclude leases with an initial term of 12 months or less from its Consolidated Balance Sheets and will recognize those lease payments in its Consolidated Statements of Operations on a straight-line basis over the lease term. On adoption the Company recognized right-of-use assets and corresponding liabilities of $446,026 on its Consolidated Balance Sheet for its operating leases with terms greater than 12 months. The Company determined that the adoption of this guidance did not have a material impact on its Consolidated Statements of Operations, Consolidated Statements of Comprehensive Income, or its Consolidated Statements of Cash Flows. The new standard will not have a material impact on liquidity and will not have an impact on the Company’s debt-covenant compliance under its current debt agreements. The Company determined that minimal changes to its business processes, systems and controls are needed to support recognition and disclosure under the new standard. Further, the Company is continuing to assess any incremental disclosures that will be required in the Company’s consolidated financial statements. The Company’s current lease arrangements have terms that expire through 2021.

Basic and Diluted Net Loss Per

Basic and Diluted Net Loss Per Common Share	3 Months Ended
	Jun. 30, 2019
Earnings Per Share [Abstract]
Basic and Diluted Net Loss Per Common Share	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, vesting of restricted shares or conversion of convertible notes outstanding. In computing diluted net income per share for the three months ended June 30, 2019 and 2018, no adjustment has been made to the weighted average outstanding common shares for the assumed exercise of stock options, vesting of restricted shares or conversion of convertible notes as the assumed exercise, vesting or conversion of these securities is anti-dilutive. Potential common shares not included in calculating diluted net loss per share are as follows: Three months ended June 30, 2019 2018 Stock options 13,504,575 14,797,442 Unvested restricted stock 1,488,750 1,997,750 5% Convertible notes - 55,556 Total 14,993,325 16,850,748

Inventories

Inventories	3 Months Ended
	Jun. 30, 2019
Inventory Disclosure [Abstract]
Inventories	NOTE 3 - INVENTORIES June 30, 2019 March 31, 2019 Raw materials $ 29,813,380 $ 29,967,401 Finished goods - net 16,329,042 14,264,939 Total $ 46,142,422 $ 44,232,340 As of June 30, and March 31, 2019, 6% and 6%, respectively, of raw materials and 6% and 8%, respectively, of finished goods were located outside of the United States. In the three months ended June 30, 2019, the Company acquired $2,101,255 of bulk bourbon whiskey 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 net realizable value.

Investments

Investments	3 Months Ended
	Jun. 30, 2019
Investments, Debt and Equity Securities [Abstract]
Investments	NOTE 4 - INVESTMENTS Investment in Gosling-Castle Partners Inc., consolidated For the three months ended June 30, 2019 and 2018, GCP had pretax net income on a stand-alone basis of $905,878 and $2,526,084, respectively. The Company allocated a portion of this net income, or $180,270 and $502,691, to non-controlling interest for the three months ended June 30, 2019 and 2018, respectively. The cumulative balance allocated to noncontrolling interests in GCP was $6,887,884 and $6,750,392 at June 30 and March 31, 2019, respectively, as shown on the accompanying condensed consolidated balance sheets. Investment in Copperhead Distillery Company, equity method For the three months ended June 30, 2019, the Company recognized a loss of $4,840 from this investment. For the three months ended June 30, 2018, the Company recognized $34,028 of income from this investment. The investment balance was $956,013 and $960,853 at June 30 and March 31, 2019, respectively.

Goodwill and Intangible Assets

Goodwill and Intangible Assets	3 Months Ended
	Jun. 30, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	NOTE 5 - GOODWILL AND INTANGIBLE ASSETS The carrying amount of goodwill was $496,226 at each of June 30 and March 31, 2019. Intangible assets consist of the following: June 30, 2019 March 31, 2019 Definite life brands $ 170,000 $ 170,000 Trademarks 641,693 641,693 Rights 8,271,555 8,271,555 Product development 208,518 208,518 Patents 994,000 994,000 Other 55,460 55,460 10,341,226 10,341,226 Less: accumulated amortization 8,733,119 8,689,254 Net 1,608,107 1,651,972 Other identifiable intangible assets - indefinite lived* 4,112,972 4,112,972 $ 5,721,079 $ 5,764,944 * Other identifiable intangible assets - indefinite lived consists of product formulations and the Company’s relationships with its distillers. Accumulated amortization consists of the following: June 30, 2019 March 31, 2019 Definite life brands $ 170,000 $ 170,000 Trademarks 451,035 440,056 Rights 7,091,845 7,064,074 Product development 60,034 57,737 Patents 960,205 957,387 Accumulated amortization $ 8,733,119 $ 8,689,254

Restricted Cash

Restricted Cash	3 Months Ended
	Jun. 30, 2019
Restricted Cash Disclosure Abstract
Restricted Cash	NOTE 6 - RESTRICTED CASH At June 30 and March 31, 2019, the Company had €310,349 or $352,755 (translated at the June 30, 2019 exchange rate) and €314,189 or $352,428 (translated at the March 31, 2019 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 7A below.

Notes Payable

Notes Payable	3 Months Ended
	Jun. 30, 2019
Debt Disclosure [Abstract]
Notes Payable	NOTE 7 - NOTES PAYABLE June 30, 2019 March 31, 2019 Notes payable consist of the following: Foreign revolving credit facilities (A) $ 112,388 $ 87,678 Note payable - GCP note (B) 214,225 211,580 Credit facility (C) 26,759,606 26,814,941 11% Subordinated Note (D) 20,000,000 20,000,000 Total $ 47,086,219 $ 47,114,199 A. The Company has arranged various credit facilities aggregating €310,349 or $352,755 (translated at the June 30, 2019 exchange rate) and €314,189 or $352,428 (translated at the March 31, 2019 exchange rate) at June 30 and March 31, 2019, respectively, with an Irish bank, including overdraft coverage, creditors’ insurance, customs and excise guaranty, a revolving credit facility and Company credit cards. These credit 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%. At June 30 and March 31, 2019, there was €98,878 or $112,388 (translated at the June 30, 2019 exchange rate) and €78,164 or $87,678 (translated at the March 31, 2019 exchange rate) of principal due on the foreign revolving credit facilities included in current maturities of notes payable, 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, 2019, $10,579 of accrued interest was converted to amounts due to affiliates. At June 30, 2019, $214,225, consisting of $211,580 of principal and $2,645 of accrued interest, due on the GCP Note is included in current liabilities. At March 31, 2019, $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 a loan and security agreement (as amended and restated, and further amended, the “Amended Agreement”) with a third-party lender ACF FinCo I LP (“ACF,”) as successor in interest, which, as amended, provided for availability (subject to certain terms and conditions) of a facility of up to $21.0 million (the “Credit Facility”) for the purpose of providing the Company with working capital, including a sublimit in the maximum principal amount of $7,000,000 to permit the Company to acquire aged whiskey inventory (the “Purchased Inventory Sublimit”), subject to certain conditions set forth in the Amended Agreement. The Company and CB-USA are referred to individually and collectively as the Borrower. Pursuant to the Amended Agreement, the Company and CB-USA may borrow up to the lesser of (x) $21,000,000 and (y) the sum of the borrowing base calculated in accordance with the Amended Agreement and the Purchased Inventory Sublimit. In May 2018, the Company and CB-USA entered into a Fourth Amendment (the “Fourth Amendment”) to the Amended Agreement to amend certain terms of the Credit Facility. Among other changes, the Fourth Amendment increased the maximum amount of the Credit Facility from $21,000,000 to $23,000,000 and amended the definition of borrowing base to increase the amount of borrowing that can be collateralized by inventory. The Credit Facility interest rate is the rate that, when annualized, is the greatest of (a) the Prime Rate plus 3.00%, (b) the LIBOR Rate plus 5.50% and (c) 6.00%. As of June 30, 2019, the Credit Facility interest rate was 8.0%. The Purchased Inventory Sublimit 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%. As of June 30, 2019, the interest rate applicable to the Purchased Inventory Sublimit was 9.75%. The monthly facility fee is 0.75% per annum of the maximum Credit Facility. Also, the Company must pay a monthly facility fee of $2,000 with respect to the Purchased Inventory Sublimit until all obligations with respect thereof are fully paid and performed. The Amended Agreement contains EBITDA targets allowing for further interest rate reductions in the future. The Company and CB-USA are permitted to prepay the Credit Facility in whole or the Purchased Inventory Sublimit, in whole or in part, subject to certain prepayment penalties as set forth in the Amended Agreement. For the three months ended June 30, 2019, the Company paid interest on the Amended Agreement and on the Purchased Inventory Sublimit as follows: Amended Agreement Purchased Inventory Sublimit April 1, 2019 – June 30, 2019 8.00000 % 9.75000 % For the three months ended June 30, 2018, the Company paid interest on the Amended Agreement and on the Purchased Inventory Sublimit as follows: Amended Agreement Purchased Inventory Sublimit April 1, 2018 – April 30, 2018 7.31175 % 9.06175 % May 1 – May 31, 2018 7.35805 % 9.10805 % June 1 – June 30, 2018 7.30031 % 9.05031 % Interest is payable monthly in arrears, on the first day of every month on the average daily unpaid principal amount of the Credit Facility. After the occurrence and during the continuance of any “Default” or “Event of Default” (as defined under the Amended Agreement), the Borrower is required to pay interest at a rate that is 3.25% per annum above the then applicable Credit Facility interest rate. There have been no Events of Default under the Credit Facility. ACF also receives 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) in addition to the facility fee with respect to the Purchased Inventory Sublimit. The Amended Agreement contains standard borrower representations and warranties for asset-based borrowing and a number of reporting obligations and affirmative and negative covenants. The Amended 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. The obligations of the Borrower under the Amended Amendment are secured by the grant of a pledge and security interest in all the assets of the Borrower. At June 30, 2019, the Company was in compliance, in all respects, with the covenants under the Amended Agreement. The Credit Facility was set to mature on July 31, 2020. ACF required as a condition to entering into an amendment to the Amended Agreement in August 2015 that ACF enter into a participation agreement with certain related parties of the Company, including Frost Gamma Investments Trust, an entity affiliated with Phillip Frost, M.D., a director and principal shareholder of the Company, Mark E. Andrews, III, a director of the Company and the Company’s Chairman, Richard J. Lampen, a director of the Company and the Company’s President and Chief Executive Officer, Brian L. Heller, the Company’s General Counsel and Assistant Secretary, and Alfred J. Small, the Company’s Senior Vice President, Chief Financial Officer, Treasurer and Secretary, to allow for the sale of participation interests in the Purchased Inventory Sublimit and the inventory purchased with the proceeds thereof. The participation agreement provides that ACF’s commitment to fund each advance of the Purchased Inventory Sublimit shall be limited to seventy percent (70%), up to an aggregate maximum principal amount for all advances equal to $4,900,000. Neither the Company nor CB-USA is a party to the participation agreement. However, the Company and CB-USA are party to a fee letter with the junior participants (including the related party junior participants) pursuant to which the Company and CB-USA were obligated to pay the junior participants a closing fee of $18,000 on the effective date of the Amended Agreement and are obligated to pay a commitment fee of $18,000 on each anniversary of the effective date until the junior participants’ obligations are terminated pursuant to the participation agreement. In August 2015, the Company used $3,000,000 of the Purchased Inventory Sublimit to acquire aged bourbon inventory. Frost Gamma Investments Trust ($150,000), Mark E. Andrews, III ($50,000), Richard J. Lampen ($100,000), Brian L. Heller ($42,500) and Alfred J. Small ($15,000) each acquired participation interests in the Purchased Inventory Sublimit and the inventory purchased with the proceeds thereof. In January 2017, the Company acquired $1,030,000 in aged bulk bourbon under the Purchased Inventory Sublimit with additional borrowings from certain related parties of the Company, including Frost Gamma Investments Trust ($51,500), Richard J. Lampen ($34,333), Mark E. Andrews, III ($17,167), Brian L. Heller ($14,592), and Alfred J. Small ($5,150), as junior participants in the Purchased Inventory Sublimit with respect to such purchase. In October 2017, the Company acquired $1,308,125 in aged bulk bourbon under the Purchased Inventory Sublimit with additional borrowings from certain related parties of the Company, including Frost Gamma Investments Trust ($65,406), Richard J. Lampen ($43,604), Mark E. Andrews, III ($21,802), Brian L. Heller ($18,532), and Alfred J. Small ($6,541), as junior participants in the Purchased Inventory Sublimit with respect to such purchase. In December 2017, the Company acquired $900,425 in aged bulk bourbon under the Purchased Inventory Sublimit with additional borrowings from certain related parties of the Company, including Frost Gamma Investments Trust ($45,021), Richard J. Lampen ($30,014), Mark E. Andrews, III ($15,007), Brian L. Heller ($12,756), and Alfred J. Small ($4,502), as junior participants in the Purchased Inventory Sublimit with respect to such purchase. In April 2018, the Company acquired $2,001,000 in aged bulk bourbon under the Purchased Inventory Sublimit with additional borrowings from certain related parties of the Company, including Frost Gamma Investments Trust ($100,050), Richard J. Lampen ($66,700), Mark E. Andrews, III ($33,350), Brian L. Heller ($28,348), and Alfred J. Small ($10,005), as junior participants in the Purchased Inventory Sublimit with respect to such purchase. In June 2018, the Company acquired $1,035,000 in aged bulk bourbon under the Purchased Inventory Sublimit with additional borrowings from certain related parties of the Company, including Frost Gamma Investments Trust ($51,750), Richard J. Lampen ($34,500), Mark E. Andrews, III ($17,250), Brian L. Heller ($14,663), and Alfred J. Small ($5,175), as junior participants in the Purchased Inventory Sublimit with respect to such purchase. Under the terms of the participation agreement, the participants receive interest at the rate of 11% per annum. In October 2018, the Company and CB-USA entered into a Fifth Amendment (the “Fifth Amendment”) to the Amended Agreement to amend certain terms of the Company’s existing Credit Facility with ACF. Among other changes, the Fifth Amendment increased the maximum amount of the Credit Facility from $23,000,000 to $25,000,000 and amended the definition of borrowing base to increase the amount of borrowing that can be collateralized by inventory. The Company and CB-USA paid ACF an aggregate $50,000 commitment fee in connection with the Amendment. In connection with the Amendment, the Company and CB-USA also entered into an Amended and Restated Revolving Credit Note. In November 2018, the Company and CB-USA entered into a Sixth Amendment (the “Sixth Amendment”) to the Amended Agreement to amend certain terms of the Company’s existing Credit Facility with ACF. Among other changes, the Sixth Amendment extended the term of the Credit Facility to July 31, 2020 and amended the definition of borrowing base to increase the amount of borrowing that could be collateralized by inventory. The Company and CB-USA paid ACF an aggregate $57,500 commitment fee in connection with the Amendment. In January 2019, the Company and CB-USA entered into a Seventh Amendment (the “Seventh Amendment”) to the Amended Agreement to amend certain terms of the Company’s existing Credit Facility with ACF. Among other changes, the Seventh Amendment increased the maximum amount of the Credit Facility from $25,000,000 to $27,000,000 and amended the definition of borrowing base to increase the amount of borrowing that can be collateralized by inventory. The Seventh Amendment also contains a fixed charge coverage ratio covenant requiring the Company to maintain a fixed charge coverage ratio of not less than 1.1 to 1.0. The Company and CB-USA paid ACF an aggregate $20,000 commitment fee in connection with the Seventh Amendment. In connection with the Seventh Amendment, the Company and CB-USA also entered into an Amended and Restated Revolving Credit Note. At June 30 and March 31, 2019, $26,900,697 and $26,957,084, respectively, due on the Credit Facility was included in long-term liabilities. At June 30 and March 31, 2019, there was $99,303 and $42,916, respectively, in potential availability under the Credit Facility. In connection with the adoption of ASU 2015-03, the Company included $141,091 and $142,143 of debt issuance costs at June 30 and March 31, 2019, respectively, as direct deductions from the carrying amount of the related debt liability. In July 2019, the Company and CB-USA, entered into an Eighth Amendment (the “Eighth Amendment”) to the Amended Agreement to amend certain terms of the Company’s existing Credit Facility with ACF. Among other changes, the Eighth Amendment (i) increases the maximum amount of the Credit Facility from $27,000,000 to $60,000,000 and removes the Purchased Inventory Sublimit; (ii) amends the borrowing capacity of the Facility to remove reference to the Purchased Inventory Sublimit and instead be equal to the lesser of (x) $60,000,000 and (y) the sum of the borrowing base calculated in accordance with the Loan Agreement; (iii) amends the definition of borrowing base to increase the amount of borrowing that can be collateralized by bourbon and finished goods inventory; (iv) amends the interest rate applicable to the revolving credit facility to be equal to the greatest of (x) the prime rate plus 1.50%, (y) the LIBOR rate plus 4.00% and (z) 5.50%; (v) contains a fixed charge coverage ratio covenant requiring the Company to maintain a fixed charge coverage ratio of not less than 1.1 to 1.0, measured on a rolling four (4) fiscal quarter basis; (vi) adds a covenant regarding revenue levels for certain Company brands; (vii) amends the permitted payments covenant to include repayment of the entire amount then due and payable under the terms of the 11% Subordinated Note due 2020 dated March 29, 2017, as amended, issued by the Company in favor of Frost Nevada Investments Trust; (viii) reduces the monthly facility fee from 0.75% per annum of the maximum Facility amount to 0.25% per annum of the maximum Facility amount; and (ix) extends the maturity date of the Facility to July 31, 2023. The Company and CB-USA paid ACF an aggregate $150,000 commitment fee in connection with the Eighth Amendment. As a result of the removal of the Purchased Inventory Sublimit, all amounts owed to certain related parties of the Company pursuant to the participation agreement entered into between such related parties and ACF were repaid in full. In connection with the Amendment, the Company and CB-USA also entered into a Second Amended and Restated Revolving Credit Note (“Revolving Note”). D. In March 2017, the Company issued a promissory note to Frost Nevada Investments Trust (the “Holder”), an entity affiliated with Phillip Frost, M.D., in the aggregate principal amount of $20,000,000 (the “Subordinated Note”). The Subordinated Note bears interest quarterly at the rate of 11% per annum. In April 2018, the Company entered into a First Amendment to the Subordinated Note to extend the maturity date on the Subordinated Note from March 15, 2019 until September 15, 2020. No other provisions of the Subordinated Note were amended. In July 2019, in connection with the Eighth Amendment to the Amended Agreement as described in Note 7C, the Company prepaid $20,183,333, representing the outstanding indebtedness owed under the Subordinated Note, plus accrued, but unpaid, interest thereon. No prepayment penalties were incurred by the Company. Upon the prepayment of the outstanding indebtedness, the Subordinated Note was cancelled.

Equity

Equity	3 Months Ended
	Jun. 30, 2019
Equity [Abstract]
Equity	NOTE 8 - EQUITY Employee Stock Purchase Plan

Foreign Currency Forward Contra

Foreign Currency Forward Contracts	3 Months Ended
	Jun. 30, 2019
Foreign Currency [Abstract]
Foreign Currency Forward Contracts	NOTE 9 - 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, 2019, the Company had no forward contracts outstanding.

Stock-Based Compensation

Stock-Based Compensation	3 Months Ended
	Jun. 30, 2019
Share-based Payment Arrangement [Abstract]
Stock-Based Compensation	NOTE 10 - STOCK-BASED COMPENSATION Stock-based compensation expense for the three months ended June 30, 2019 and 2018 amounted to $439,270 and $490,485, respectively. At June 30, 2019, total unrecognized compensation cost amounted to $2,282,871, representing 767,250 unvested options and 1,488,750 unvested shares of restricted stock. This cost is expected to be recognized over a weighted-average period of 0.9 years for the unvested options and 2.50 years for the unvested restricted shares. There were 171,000 options exercised during the three months ended June 30, 2019 and 503,166 options exercised during the three months ended June 30, 2018. The Company did not recognize any related tax benefit for the three months ended June 30, 2019 and 2018 from option exercises, as the effects were de minimis.

Leases

Leases	3 Months Ended
	Jun. 30, 2019
Leases [Abstract]
Leases	NOTE 11 - LEASES Leasing Accounting Pronouncement Adoption On April 1, 2019, the Company adopted ASU No. 2016-02- Leases (Topic 842) applying the modified retrospective method and the option presented under ASU 2018-11 to transition only active leases as of April 1, 2019 with a cumulative effect adjustment as of that date. All comparative periods prior to April 1, 2019 retain the financial reporting and disclosure requirements of ASC 840. The Company elected the package of practical expedients permitted under the transition guidance within the new standard. The package of three expedients includes: 1) the ability to carry forward the historical lease classification, 2) the elimination of the requirement to reassess whether existing or expired agreements contain leases, and 3) the elimination of the requirement to reassess initial direct costs. The Company also elected the practical expedient related to short-term leases without purchase options reasonably certain to exercise, allowing it to exclude leases with terms of less than twelve (12) months from capitalization for all asset classes. The Company did not elect the hindsight practical expedient when determining the lease terms. The adoption of the new standard resulted in the recording of right-of-use (“ROU”) assets and lease liabilities of $446,026 each, as of April 1, 2019. The standard did not materially impact the Company’s consolidated net earnings and had no impact on cash flows. The new standard had no material impact on liquidity and had no impact on the Company’s debt-covenant compliance under its current debt agreements. Leasing Policies The Company determines if an arrangement is a lease at inception. Leases are included in right-of-use assets and lease liabilities in the current and long-term portions of liabilities. ROU assets represent the Company’s right to use an underlying asset for the duration of the lease term. Lease liabilities represent the Company’s obligation to make lease payments as determined by the lease agreement. Lease liabilities are recorded at commencement for the net present value of future lease payments over the lease term. The discount rate used is generally the Company’s estimated incremental borrowing rate unless the lessor’s implicit rate is readily determinable. Discount rates are calculated periodically to estimate the rate the Company would pay to borrow the funds necessary to obtain an asset of similar value, over a similar term, with a similar security. ROU assets are recorded and recognized at commencement for the lease liability amount, initial direct costs incurred and is reduced for lease incentives received. The Company’s lease terms may include options to extend or terminate the lease when it is reasonably certain that the Company will exercise that option. Operating lease expense is recognized on a straight-line basis over the lease term. Finance lease cost is recognized on a straight line basis over the shorter of the useful life of the asset and the lease term. Leases The Company has operating and finance leases for corporate offices and certain office equipment. The leases have remaining lease terms of one year to three years, none of which include options to extend and none of which include options to terminate the leases within one year. The Company’s lease population includes purchase options on equipment leases that are included in the lease payments when reasonably certain to be exercised. The Company’s lease population does not include any residual value guarantees. The Company’s lease population does not contain any material restrictive covenants. The Company has leases with variable payments, most commonly in the form of Common Area Maintenance (“CAM”) and tax charges which are based on actual costs incurred. These variable payments were excluded from the ROU asset and lease liability balances since they are not fixed or in-substance fixed payments. Variable payments are expensed as incurred. The components of lease expense were as follows (leases transacted in euros have been translated at the June 30, 2019 exchange rate): Three Months Ended June 30, 2019 Operating lease cost $ 63,137 Variable lease cost 10,992 Finance lease cost: Amortization of right-of-use assets 5,040 Interest on lease liabilities 1,272 Total lease cost $ 80,441 Supplemental cash flow information related to leases was as follows (leases transacted in euros have been translated at the June 30, 2019 exchange rate): Three Months Ended June 30, 2019 Cash paid for amounts included in measurement of lease liabilities: Operating cash flows from operating leases $ 94,705 Financing cash flows from finance leases 5,735 Supplemental balance sheet information related to leases was as follows (leases transacted in euros have been translated at the June 30, 2019 exchange rate): June 30, 2019 Operating leases: Operating lease right-of-use assets $ 322,392 Current operating lease liability $ 249,094 Non-current operating lease liability 41,707 Total operating lease liabilities $ 290,801 Finance leases: Equipment, at cost $ 65,127 Accumulated amortization (5,051 ) Equipment, net $ 60,076 Lease liabilities – current $ 18,820 Lease liabilities - long-term 41,835 Total finance lease liabilities $ 60,655 Weighted average remaining lease term: Operating leases 1.03 Finance leases 3.24 Weighted average discount rate: Operating leases 8.0 % Finance leases 8.0 % As of June 30, 2019, maturities of lease liabilities were as follows (leases transacted in euros have been translated at the June 30, 2019 exchange rate): Operating Leases Finance Leases Year Ending March 31: Remainder of 2020 $ 249,514 $ 17, 244 2021 43,536 20,796 2022 10,884 18,600 2023 - 12,400 Total lease payments 303,934 69,040 Less imputed interest (13,133 ) (8,385 ) Total $ 290,801 $ 60,655 Under ASC 840, Leases Years ending March 31, Amount 2020 $ 388,694 2021 65,360 2022 26,663 Total $ 480,717

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Jun. 30, 2019
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	NOTE 12 - COMMITMENTS AND CONTINGENCIES A. The Company has entered into a supply agreement with an Irish distiller (“Irish Distillery”), 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. The Irish Distillery 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 the Irish Distillery 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, 2020, the Company has contracted to purchase approximately €1,233,954 or $1,402,562 (translated at the June 30, 2019 exchange rate) in bulk Irish whiskey. The Company is not obligated to pay the Irish Distillery for any product not yet received. During the term of this supply agreement, the Irish Distillery has the right to limit additional purchases above the commitment amount B. The Company has also entered into a supply agreement with the Irish Distillery, 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. The Irish Distillery 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 the Irish Distillery 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, 2020, the Company has contracted to purchase approximately €596,992 or $678,565 (translated at the June 30, 2019 exchange rate) in bulk Irish whiskey. The Company is not obligated to pay the Irish Distillery for any product not yet received. During the term of this supply agreement, the Irish Distillery has the right to limit additional purchases above the commitment amount. C. The Company has entered into a supply agreement with a bourbon distiller, which provides for the production of newly-distilled bourbon whiskey. Under this agreement, the distiller will provide the Company with an agreed upon amount of original proof gallons of newly-distilled bourbon whiskey, subject to certain annual adjustments. For the contract year ending December 31, 2019, the Company contracted to purchase approximately $4,550,000 in newly-distilled bourbon, of which $2,322,450 was purchased as of June 30, 2019. The Company is not obligated to pay the distiller for any product not yet received. D. As described in Note 8C, in August 2011, the Company and CB-USA entered into the Credit Facility, as amended in July 2012, March 2013, August 2013, November 2013, August 2014, September 2014, August 2015, October 2017, May 2018, October 2018, November 2018, January 2019 and July 2019. E. 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 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, 2019
Risks and Uncertainties [Abstract]
Concentrations	NOTE 13 - CONCENTRATIONS A. Credit Risk B. Customers

Geographic Information

Geographic Information	3 Months Ended
	Jun. 30, 2019
Segment Reporting [Abstract]
Geographic Information	NOTE 14 - GEOGRAPHIC INFORMATION The Company operates in one reportable segment - the sale of premium beverage alcohol. The Company’s product categories are whiskeys, rum, liqueurs, vodka, tequila and ginger beer, a related non-alcoholic beverage product. 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 sales, net, consolidated income from operations, consolidated net loss attributable to common shareholders, consolidated income tax expense and consolidated assets from the U.S. and foreign countries and consolidated sales, net by category. Three months ended June 30, 2019 2018 Consolidated Sales, net: International $ 2,050,009 9.1 % $ 2,299,006 10.0 % U.S. - control states 4,062,985 19.7 % 5,311,639 23.0 % U.S. - open states 16,522,747 80.3 % 15,493,743 77.0 % United States 20,585,732 90.9 % 20,805,382 90.0 % Total Consolidated Sales, net $ 22,635,741 100.0 % $ 23,104,388 100.0 % Consolidated (Loss) Income from Operations: International $ (118,357 ) (391.6 )% $ (77,906 ) (11.4 )% United States 88,136 291.6 % 762,510 111.4 % Total Consolidated (Loss) Income from Operations $ (30,221 ) 100.0 % $ 684,604 100.0 % Consolidated Net Loss Attributable to Common Shareholders: International $ (92,252 ) 10.6 % $ (49,002 ) 7.1 % United States (778,643 ) 89.4 % (641,705 ) 92.9 % Total Consolidated Net Loss Attributable to Common Shareholders $ (870,895 ) 100.0 % $ (690,707 ) 100.0 % Income tax benefit (expense), net: United States $ 582,019 100.0 % $ (18,115 ) 100.0 % Consolidated Sales, net by category: Whiskey $ 9,708,985 42.9 % $ 9,484,388 41.1 % Rum 3,550,033 15.7 % $ 4,557,023 19.7 % Liqueurs 1,874,946 8.3 % 1,987,096 8.6 % Vodka 226,757 1.0 % 320,578 1.4 % Tequila - 0.0 % 58,683 0.3 % Ginger beer 7,275,020 32.1 % 6,696,620 29.0 % Total Consolidated Sales, net $ 22,635,741 100.0 % $ 23,104,388 100.0 % As of June 30, 2019 As of March 31, 2019 Consolidated Assets: International $ 3,264,493 3.8 % $ 3,382,553 4.0 % United States 81,685,530 96.2 % 81,598,013 96.0 % Total Consolidated Assets $ 84,950,023 100.0 % $ 84,980,566 100.0 %

Organization and Summary of S_2

Organization and Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Jun. 30, 2019
Accounting Policies [Abstract]
Description of Business	A. Description of business
Liquidity	B. Liquidity
Organization and Operations	C. Organization and operations
Revenues	D. Revenues The Company does not ship product unless it has received an order or other documentation authorizing delivery to its customers. Revenue is measured as the amount of consideration the Company expects to receive in exchange for transferring goods. The Company generally does not provide post-delivery services and does not offer a right-of-return except in the case of an error. Uncollectable accounts receivable are estimated by using a combination of historical customer experience and a customer-by-customer analysis. The Company’s payment terms vary by customer and, in certain cases, the products offered. The term between invoicing and when payment is due is not significant. As permitted under U.S. GAAP, the Company has elected not to assess whether a contract has a significant financing component if the expectation at contract inception is such that the period between payment by the customer and the transfer of the promised goods to the customer will be one year or less. As permitted under U.S. GAAP, the Company has elected to recognize the incremental costs of obtaining a contract as an expense when incurred as the amortization period of the asset that the Company otherwise would have recognized will be one year or less. As permitted under U.S. GAAP, the Company has elected to exclude from the measurement of the transaction price all taxes assessed by a governmental authority that are both imposed on and concurrent with a specific revenue-producing transaction and collected by the Company from a customer, i.e excise taxes (see note 1H). As permitted under U.S. GAAP, the Company has elected to account for any shipping and handling activities that occur after a customer obtains control of any goods as activities to fulfill the promise to transfer the goods, and the Company is not required to evaluate whether such shipping and handling activities are promised services to its customers. See Note 14 for disaggregation of revenue by product as the Company believes this best depicts how the nature, amount, timing and uncertainty of its revenues and cash flows are affected by economic factors. The Company does not have any customer contracts that meet the definition of unsatisfied performance obligations in accordance with U.S. GAAP.
Equity Investments	E. Equity investments
Goodwill and Other Intangible Assets	F. Goodwill and other intangible assets
Impairment and of Long-lived Assets	G. Impairment of long-lived assets
Excise Taxes and Duty	H. Excise taxes and duty
Foreign Currency	I. Foreign currency
Fair Value of Financial Instruments	J. Fair value of financial instruments 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 Taxes	K. Income taxes Under ASC 740, 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 adopted the provisions of ASC 740-10 and as of June 30, 2019, the Company had reserves for uncertain tax positions (including related interest and penalties) for various state and local taxes of $43,816. The Company recognizes interest and penalties related to uncertain tax positions in general and administrative expense.
Recent Accounting Pronouncements	L. Recent accounting pronouncements In October 2018, the FASB issued ASU No. 2018-16, Inclusion of the Secured Overnight Financing Rate (“SOFR”) Overnight Index Swap (“OIS”) Rate as a Benchmark Interest Rate for Hedge Accounting Purposes (“ASU 2018-16”), which amends ASC 815, Derivatives and Hedging. This ASU adds the OIS rate based on SOFR to the list of permissible benchmark rates for hedge accounting purposes. The amendments are effective for fiscal years beginning after December 15, 2019, and interim periods within those fiscal years. Adoption of ASU 2018-16 will be on a prospective basis for qualifying new or redesignated hedging relationships entered into on or after the date of adoption. 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 and financial condition. In August 2018, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2018-15, Intangibles - Goodwill and Other Internal Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract. The amendments in this update align the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software. ASU 2018-15 is effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. Early adoption is permitted. 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 and financial condition. In August 2018, the FASB issued ASU 2018-13, “Fair Value Measurement (Topic 820): Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement.” This ASU adds, modifies and removes several disclosure requirements relative to the three levels of inputs used to measure fair value in accordance with Topic 820, “Fair Value Measurement.” This guidance is effective for the Company as of April 1, 2020, with early adoption permitted. 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 and financial condition. In July 2018, the FASB issued ASU 2018-09, “Codification Improvements.” This ASU makes amendments to a wide variety of codification topics in the FASB’s Accounting Standards Codification. The transition and effective date guidance is based on the facts and circumstances of each amendment. Some of the amendments in this ASU do not require transition guidance and will be effective upon issuance of this ASU. However, many of the amendments in this ASU do have transition guidance with effective dates for annual periods beginning after December 15, 2018. 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 and financial condition. In June 2016, the FASB issued ASU 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. This ASU amends the requirement on the measurement and recognition of expected credit losses for financial assets held. The ASU is effective for annual periods beginning after December 15, 2019 and interim periods within those annual periods. Early adoption is permitted, but not earlier than annual and interim periods beginning after December 15, 2018. This amendment should be applied on a modified retrospective basis with a cumulative effect adjustment to retained earnings as of the beginning of the period of adoption. 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 and financial condition. The Company does not believe that any other recently issued, but not yet effective, accounting standards, if currently adopted, would have a material effect on the accompanying condensed consolidated financial statements.
Accounting Standards Adopted	M. Accounting standards adopted In February 2016, the FASB issued ASU 2016-02, Leases (“ASU 2016-02”), which provides guidance for accounting for leases. ASU 2016-02 requires lessees to classify leases as either finance or operating leases and to record a right-of-use asset and a lease liability for all leases with a term greater than 12 months regardless of the lease classification. The lease classification will determine whether the lease expense is recognized based on an effective interest rate method or on a straight-line basis over the term of the lease. For leases with a term of 12 months or less for which there is not an option to purchase the underlying asset that the lessee is reasonably certain to exercise, a lessee is permitted to make an accounting policy election by class of underlying asset not to recognize lease assets and lease liabilities and should recognize lease expense for such leases generally on a straight-line basis over the lease term. Certain qualitative disclosures along with specific quantitative disclosures will be required so that users are able to understand more about the nature of an entity’s leasing activities. Accounting for lessors remains largely unchanged from current U.S. GAAP. In July 2018, the FASB issued ASU 2018-10, Codification Improvements to Topic 842, Leases and ASU 2018-11 “Leases (Topic 842): Targeted Improvements” (ASU 2018-11). ASU 2018-10 clarifies certain areas within ASU 2016-02. Prior to ASU 2018-11, a modified retrospective transition was required for financing or operating leases existing at or entered into after the beginning of the earliest comparative period presented in the financial statements. ASU 2018-11 allows entities an additional transition method to the existing requirements whereby an entity could adopt the provisions of ASU 2016-02 by recognizing a cumulative-effect adjustment to the opening balance of retained earnings in the period of adoption without adjustment to the financial statements for periods prior to adoption. ASU 2018-11 also allows a practical expedient that permits lessors to not separate non-lease components from the associated lease component if certain conditions are present. An entity that elects to use the practical expedients will, in effect, continue to account for leases that commenced before the effective date in accordance with previous GAAP unless the lease is modified, except that lessees are required to recognize a right-of-use asset and a lease liability for all operating leases at each reporting date based on the present value of the remaining minimum rental payments that were tracked and disclosed under previous GAAP. ASU 2016-02, ASU 2018-10 and ASU 2018-11 became effective for the Company as of April 1, 2019. The Company employed the available practical expedients consistently to all of its office and office equipment leases, supply and warehousing agreements determined to be subject to the standard. The expedients granted the Company the ability to forgo reassessing lease classifications and whether any expired or existing contracts are, or contain, leases. The Company followed the guidance of ASU 2018-11 and did not recast its comparative periods. The comparative periods will follow the guidance of ASC 840, while the current period will follow the guidance of the new ASC 842. The Company elected to utilize the transition package of practical expedients permitted within the new standard, which among other things, allowed the Company to carryforward the historical lease classification. The Company made an accounting policy election that will exclude leases with an initial term of 12 months or less from its Consolidated Balance Sheets and will recognize those lease payments in its Consolidated Statements of Operations on a straight-line basis over the lease term. On adoption the Company recognized right-of-use assets and corresponding liabilities of $446,026 on its Consolidated Balance Sheet for its operating leases with terms greater than 12 months. The Company determined that the adoption of this guidance did not have a material impact on its Consolidated Statements of Operations, Consolidated Statements of Comprehensive Income, or its Consolidated Statements of Cash Flows. The new standard will not have a material impact on liquidity and will not have an impact on the Company’s debt-covenant compliance under its current debt agreements. The Company determined that minimal changes to its business processes, systems and controls are needed to support recognition and disclosure under the new standard. Further, the Company is continuing to assess any incremental disclosures that will be required in the Company’s consolidated financial statements. The Company’s current lease arrangements have terms that expire through 2021.

Basic and Diluted Net Loss Pe_2

Basic and Diluted Net Loss Per Common Share (Tables)	3 Months Ended
	Jun. 30, 2019
Earnings Per Share [Abstract]
Schedule of Basic and Diluted Earnings Per Share	Potential common shares not included in calculating diluted net loss per share are as follows: Three months ended June 30, 2019 2018 Stock options 13,504,575 14,797,442 Unvested restricted stock 1,488,750 1,997,750 5% Convertible notes - 55,556 Total 14,993,325 16,850,748

Inventories (Tables)

Inventories (Tables)	3 Months Ended
	Jun. 30, 2019
Inventory Disclosure [Abstract]
Schedule of Inventory	June 30, 2019 March 31, 2019 Raw materials $ 29,813,380 $ 29,967,401 Finished goods - net 16,329,042 14,264,939 Total $ 46,142,422 $ 44,232,340

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	3 Months Ended
	Jun. 30, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Intangible Assets	Intangible assets consist of the following: June 30, 2019 March 31, 2019 Definite life brands $ 170,000 $ 170,000 Trademarks 641,693 641,693 Rights 8,271,555 8,271,555 Product development 208,518 208,518 Patents 994,000 994,000 Other 55,460 55,460 10,341,226 10,341,226 Less: accumulated amortization 8,733,119 8,689,254 Net 1,608,107 1,651,972 Other identifiable intangible assets - indefinite lived* 4,112,972 4,112,972 $ 5,721,079 $ 5,764,944 * Other identifiable intangible assets - indefinite lived consists of product formulations and the Company’s relationships with its distillers.
Schedule of Accumulated Amortization	Accumulated amortization consists of the following: June 30, 2019 March 31, 2019 Definite life brands $ 170,000 $ 170,000 Trademarks 451,035 440,056 Rights 7,091,845 7,064,074 Product development 60,034 57,737 Patents 960,205 957,387 Accumulated amortization $ 8,733,119 $ 8,689,254

Notes Payable (Tables)

Notes Payable (Tables)	3 Months Ended
	Jun. 30, 2019
Debt Disclosure [Abstract]
Schedule of Notes Payable and Credit Facility	June 30, 2019 March 31, 2019 Notes payable consist of the following: Foreign revolving credit facilities (A) $ 112,388 $ 87,678 Note payable - GCP note (B) 214,225 211,580 Credit facility (C) 26,759,606 26,814,941 11% Subordinated Note (D) 20,000,000 20,000,000 Total $ 47,086,219 $ 47,114,199 A. The Company has arranged various credit facilities aggregating €310,349 or $352,755 (translated at the June 30, 2019 exchange rate) and €314,189 or $352,428 (translated at the March 31, 2019 exchange rate) at June 30 and March 31, 2019, respectively, with an Irish bank, including overdraft coverage, creditors’ insurance, customs and excise guaranty, a revolving credit facility and Company credit cards. These credit 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%. At June 30 and March 31, 2019, there was €98,878 or $112,388 (translated at the June 30, 2019 exchange rate) and €78,164 or $87,678 (translated at the March 31, 2019 exchange rate) of principal due on the foreign revolving credit facilities included in current maturities of notes payable, 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, 2019, $10,579 of accrued interest was converted to amounts due to affiliates. At June 30, 2019, $214,225, consisting of $211,580 of principal and $2,645 of accrued interest, due on the GCP Note is included in current liabilities. At March 31, 2019, $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 a loan and security agreement (as amended and restated, and further amended, the “Amended Agreement”) with a third-party lender ACF FinCo I LP (“ACF,”) as successor in interest, which, as amended, provided for availability (subject to certain terms and conditions) of a facility of up to $21.0 million (the “Credit Facility”) for the purpose of providing the Company with working capital, including a sublimit in the maximum principal amount of $7,000,000 to permit the Company to acquire aged whiskey inventory (the “Purchased Inventory Sublimit”), subject to certain conditions set forth in the Amended Agreement. The Company and CB-USA are referred to individually and collectively as the Borrower. Pursuant to the Amended Agreement, the Company and CB-USA may borrow up to the lesser of (x) $21,000,000 and (y) the sum of the borrowing base calculated in accordance with the Amended Agreement and the Purchased Inventory Sublimit. In May 2018, the Company and CB-USA entered into a Fourth Amendment (the “Fourth Amendment”) to the Amended Agreement to amend certain terms of the Credit Facility. Among other changes, the Fourth Amendment increased the maximum amount of the Credit Facility from $21,000,000 to $23,000,000 and amended the definition of borrowing base to increase the amount of borrowing that can be collateralized by inventory. The Credit Facility interest rate is the rate that, when annualized, is the greatest of (a) the Prime Rate plus 3.00%, (b) the LIBOR Rate plus 5.50% and (c) 6.00%. As of June 30, 2019, the Credit Facility interest rate was 8.0%. The Purchased Inventory Sublimit 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%. As of June 30, 2019, the interest rate applicable to the Purchased Inventory Sublimit was 9.75%. The monthly facility fee is 0.75% per annum of the maximum Credit Facility. Also, the Company must pay a monthly facility fee of $2,000 with respect to the Purchased Inventory Sublimit until all obligations with respect thereof are fully paid and performed. The Amended Agreement contains EBITDA targets allowing for further interest rate reductions in the future. The Company and CB-USA are permitted to prepay the Credit Facility in whole or the Purchased Inventory Sublimit, in whole or in part, subject to certain prepayment penalties as set forth in the Amended Agreement. For the three months ended June 30, 2019, the Company paid interest on the Amended Agreement and on the Purchased Inventory Sublimit as follows: Amended Agreement Purchased Inventory Sublimit April 1, 2019 – June 30, 2019 8.00000 % 9.75000 % For the three months ended June 30, 2018, the Company paid interest on the Amended Agreement and on the Purchased Inventory Sublimit as follows: Amended Agreement Purchased Inventory Sublimit April 1, 2018 – April 30, 2018 7.31175 % 9.06175 % May 1 – May 31, 2018 7.35805 % 9.10805 % June 1 – June 30, 2018 7.30031 % 9.05031 % Interest is payable monthly in arrears, on the first day of every month on the average daily unpaid principal amount of the Credit Facility. After the occurrence and during the continuance of any “Default” or “Event of Default” (as defined under the Amended Agreement), the Borrower is required to pay interest at a rate that is 3.25% per annum above the then applicable Credit Facility interest rate. There have been no Events of Default under the Credit Facility. ACF also receives 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) in addition to the facility fee with respect to the Purchased Inventory Sublimit. The Amended Agreement contains standard borrower representations and warranties for asset-based borrowing and a number of reporting obligations and affirmative and negative covenants. The Amended 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. The obligations of the Borrower under the Amended Amendment are secured by the grant of a pledge and security interest in all the assets of the Borrower. At June 30, 2019, the Company was in compliance, in all respects, with the covenants under the Amended Agreement. The Credit Facility was set to mature on July 31, 2020. ACF required as a condition to entering into an amendment to the Amended Agreement in August 2015 that ACF enter into a participation agreement with certain related parties of the Company, including Frost Gamma Investments Trust, an entity affiliated with Phillip Frost, M.D., a director and principal shareholder of the Company, Mark E. Andrews, III, a director of the Company and the Company’s Chairman, Richard J. Lampen, a director of the Company and the Company’s President and Chief Executive Officer, Brian L. Heller, the Company’s General Counsel and Assistant Secretary, and Alfred J. Small, the Company’s Senior Vice President, Chief Financial Officer, Treasurer and Secretary, to allow for the sale of participation interests in the Purchased Inventory Sublimit and the inventory purchased with the proceeds thereof. The participation agreement provides that ACF’s commitment to fund each advance of the Purchased Inventory Sublimit shall be limited to seventy percent (70%), up to an aggregate maximum principal amount for all advances equal to $4,900,000. Neither the Company nor CB-USA is a party to the participation agreement. However, the Company and CB-USA are party to a fee letter with the junior participants (including the related party junior participants) pursuant to which the Company and CB-USA were obligated to pay the junior participants a closing fee of $18,000 on the effective date of the Amended Agreement and are obligated to pay a commitment fee of $18,000 on each anniversary of the effective date until the junior participants’ obligations are terminated pursuant to the participation agreement. In August 2015, the Company used $3,000,000 of the Purchased Inventory Sublimit to acquire aged bourbon inventory. Frost Gamma Investments Trust ($150,000), Mark E. Andrews, III ($50,000), Richard J. Lampen ($100,000), Brian L. Heller ($42,500) and Alfred J. Small ($15,000) each acquired participation interests in the Purchased Inventory Sublimit and the inventory purchased with the proceeds thereof. In January 2017, the Company acquired $1,030,000 in aged bulk bourbon under the Purchased Inventory Sublimit with additional borrowings from certain related parties of the Company, including Frost Gamma Investments Trust ($51,500), Richard J. Lampen ($34,333), Mark E. Andrews, III ($17,167), Brian L. Heller ($14,592), and Alfred J. Small ($5,150), as junior participants in the Purchased Inventory Sublimit with respect to such purchase. In October 2017, the Company acquired $1,308,125 in aged bulk bourbon under the Purchased Inventory Sublimit with additional borrowings from certain related parties of the Company, including Frost Gamma Investments Trust ($65,406), Richard J. Lampen ($43,604), Mark E. Andrews, III ($21,802), Brian L. Heller ($18,532), and Alfred J. Small ($6,541), as junior participants in the Purchased Inventory Sublimit with respect to such purchase. In December 2017, the Company acquired $900,425 in aged bulk bourbon under the Purchased Inventory Sublimit with additional borrowings from certain related parties of the Company, including Frost Gamma Investments Trust ($45,021), Richard J. Lampen ($30,014), Mark E. Andrews, III ($15,007), Brian L. Heller ($12,756), and Alfred J. Small ($4,502), as junior participants in the Purchased Inventory Sublimit with respect to such purchase. In April 2018, the Company acquired $2,001,000 in aged bulk bourbon under the Purchased Inventory Sublimit with additional borrowings from certain related parties of the Company, including Frost Gamma Investments Trust ($100,050), Richard J. Lampen ($66,700), Mark E. Andrews, III ($33,350), Brian L. Heller ($28,348), and Alfred J. Small ($10,005), as junior participants in the Purchased Inventory Sublimit with respect to such purchase. In June 2018, the Company acquired $1,035,000 in aged bulk bourbon under the Purchased Inventory Sublimit with additional borrowings from certain related parties of the Company, including Frost Gamma Investments Trust ($51,750), Richard J. Lampen ($34,500), Mark E. Andrews, III ($17,250), Brian L. Heller ($14,663), and Alfred J. Small ($5,175), as junior participants in the Purchased Inventory Sublimit with respect to such purchase. Under the terms of the participation agreement, the participants receive interest at the rate of 11% per annum. In October 2018, the Company and CB-USA entered into a Fifth Amendment (the “Fifth Amendment”) to the Amended Agreement to amend certain terms of the Company’s existing Credit Facility with ACF. Among other changes, the Fifth Amendment increased the maximum amount of the Credit Facility from $23,000,000 to $25,000,000 and amended the definition of borrowing base to increase the amount of borrowing that can be collateralized by inventory. The Company and CB-USA paid ACF an aggregate $50,000 commitment fee in connection with the Amendment. In connection with the Amendment, the Company and CB-USA also entered into an Amended and Restated Revolving Credit Note. In November 2018, the Company and CB-USA entered into a Sixth Amendment (the “Sixth Amendment”) to the Amended Agreement to amend certain terms of the Company’s existing Credit Facility with ACF. Among other changes, the Sixth Amendment extended the term of the Credit Facility to July 31, 2020 and amended the definition of borrowing base to increase the amount of borrowing that could be collateralized by inventory. The Company and CB-USA paid ACF an aggregate $57,500 commitment fee in connection with the Amendment. In January 2019, the Company and CB-USA entered into a Seventh Amendment (the “Seventh Amendment”) to the Amended Agreement to amend certain terms of the Company’s existing Credit Facility with ACF. Among other changes, the Seventh Amendment increased the maximum amount of the Credit Facility from $25,000,000 to $27,000,000 and amended the definition of borrowing base to increase the amount of borrowing that can be collateralized by inventory. The Seventh Amendment also contains a fixed charge coverage ratio covenant requiring the Company to maintain a fixed charge coverage ratio of not less than 1.1 to 1.0. The Company and CB-USA paid ACF an aggregate $20,000 commitment fee in connection with the Seventh Amendment. In connection with the Seventh Amendment, the Company and CB-USA also entered into an Amended and Restated Revolving Credit Note. At June 30 and March 31, 2019, $26,900,697 and $26,957,084, respectively, due on the Credit Facility was included in long-term liabilities. At June 30 and March 31, 2019, there was $99,303 and $42,916, respectively, in potential availability under the Credit Facility. In connection with the adoption of ASU 2015-03, the Company included $141,091 and $142,143 of debt issuance costs at June 30 and March 31, 2019, respectively, as direct deductions from the carrying amount of the related debt liability. In July 2019, the Company and CB-USA, entered into an Eighth Amendment (the “Eighth Amendment”) to the Amended Agreement to amend certain terms of the Company’s existing Credit Facility with ACF. Among other changes, the Eighth Amendment (i) increases the maximum amount of the Credit Facility from $27,000,000 to $60,000,000 and removes the Purchased Inventory Sublimit; (ii) amends the borrowing capacity of the Facility to remove reference to the Purchased Inventory Sublimit and instead be equal to the lesser of (x) $60,000,000 and (y) the sum of the borrowing base calculated in accordance with the Loan Agreement; (iii) amends the definition of borrowing base to increase the amount of borrowing that can be collateralized by bourbon and finished goods inventory; (iv) amends the interest rate applicable to the revolving credit facility to be equal to the greatest of (x) the prime rate plus 1.50%, (y) the LIBOR rate plus 4.00% and (z) 5.50%; (v) contains a fixed charge coverage ratio covenant requiring the Company to maintain a fixed charge coverage ratio of not less than 1.1 to 1.0, measured on a rolling four (4) fiscal quarter basis; (vi) adds a covenant regarding revenue levels for certain Company brands; (vii) amends the permitted payments covenant to include repayment of the entire amount then due and payable under the terms of the 11% Subordinated Note due 2020 dated March 29, 2017, as amended, issued by the Company in favor of Frost Nevada Investments Trust; (viii) reduces the monthly facility fee from 0.75% per annum of the maximum Facility amount to 0.25% per annum of the maximum Facility amount; and (ix) extends the maturity date of the Facility to July 31, 2023. The Company and CB-USA paid ACF an aggregate $150,000 commitment fee in connection with the Eighth Amendment. As a result of the removal of the Purchased Inventory Sublimit, all amounts owed to certain related parties of the Company pursuant to the participation agreement entered into between such related parties and ACF were repaid in full. In connection with the Amendment, the Company and CB-USA also entered into a Second Amended and Restated Revolving Credit Note (“Revolving Note”). D. In March 2017, the Company issued a promissory note to Frost Nevada Investments Trust (the “Holder”), an entity affiliated with Phillip Frost, M.D., in the aggregate principal amount of $20,000,000 (the “Subordinated Note”). The Subordinated Note bears interest quarterly at the rate of 11% per annum. In April 2018, the Company entered into a First Amendment to the Subordinated Note to extend the maturity date on the Subordinated Note from March 15, 2019 until September 15, 2020. No other provisions of the Subordinated Note were amended. In July 2019, in connection with the Eighth Amendment to the Amended Agreement as described in Note 7C, the Company prepaid $20,183,333, representing the outstanding indebtedness owed under the Subordinated Note, plus accrued, but unpaid, interest thereon. No prepayment penalties were incurred by the Company. Upon the prepayment of the outstanding indebtedness, the Subordinated Note was cancelled.

Leases (Tables)

Leases (Tables)	3 Months Ended
	Jun. 30, 2019
Leases [Abstract]
Schedule of Components Lease Cost Related	The components of lease expense were as follows (leases transacted in euros have been translated at the June 30, 2019 exchange rate): Three Months Ended June 30, 2019 Operating lease cost $ 63,137 Variable lease cost 10,992 Finance lease cost: Amortization of right-of-use assets 5,040 Interest on lease liabilities 1,272 Total lease cost $ 80,441
Schedule of Supplemental Cash Flow Information Related to Leases	Supplemental cash flow information related to leases was as follows (leases transacted in euros have been translated at the June 30, 2019 exchange rate): Three Months Ended June 30, 2019 Cash paid for amounts included in measurement of lease liabilities: Operating cash flows from operating leases $ 94,705 Financing cash flows from finance leases 5,735
Schedule of Operating and Financing Lease Assets and Liabilities	Supplemental balance sheet information related to leases was as follows (leases transacted in euros have been translated at the June 30, 2019 exchange rate): June 30, 2019 Operating leases: Operating lease right-of-use assets $ 322,392 Current operating lease liability $ 249,094 Non-current operating lease liability 41,707 Total operating lease liabilities $ 290,801 Finance leases: Equipment, at cost $ 65,127 Accumulated amortization (5,051 ) Equipment, net $ 60,076 Lease liabilities – current $ 18,820 Lease liabilities - long-term 41,835 Total finance lease liabilities $ 60,655 Weighted average remaining lease term: Operating leases 1.03 Finance leases 3.24 Weighted average discount rate: Operating leases 8.0 % Finance leases 8.0 %
Schedule of Maturity of Operating and Financing Lease Liabilities	As of June 30, 2019, maturities of lease liabilities were as follows (leases transacted in euros have been translated at the June 30, 2019 exchange rate): Operating Leases Finance Leases Year Ending March 31: Remainder of 2020 $ 249,514 $ 17, 244 2021 43,536 20,796 2022 10,884 18,600 2023 - 12,400 Total lease payments 303,934 69,040 Less imputed interest (13,133 ) (8,385 ) Total $ 290,801 $ 60,655
Schedule of Future Minimum Lease Payments Under Non-cancelable Operating Lease	Under ASC 840, Leases Years ending March 31, Amount 2020 $ 388,694 2021 65,360 2022 26,663 Total $ 480,717

Geographic Information (Tables)

Geographic Information (Tables)	3 Months Ended
	Jun. 30, 2019
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	The following table sets forth the amounts and percentage of consolidated sales, net, consolidated income from operations, consolidated net loss attributable to common shareholders, consolidated income tax expense and consolidated assets from the U.S. and foreign countries and consolidated sales, net by category. Three months ended June 30, 2019 2018 Consolidated Sales, net: International $ 2,050,009 9.1 % $ 2,299,006 10.0 % U.S. - control states 4,062,985 19.7 % 5,311,639 23.0 % U.S. - open states 16,522,747 80.3 % 15,493,743 77.0 % United States 20,585,732 90.9 % 20,805,382 90.0 % Total Consolidated Sales, net $ 22,635,741 100.0 % $ 23,104,388 100.0 % Consolidated (Loss) Income from Operations: International $ (118,357 ) (391.6 )% $ (77,906 ) (11.4 )% United States 88,136 291.6 % 762,510 111.4 % Total Consolidated (Loss) Income from Operations $ (30,221 ) 100.0 % $ 684,604 100.0 % Consolidated Net Loss Attributable to Common Shareholders: International $ (92,252 ) 10.6 % $ (49,002 ) 7.1 % United States (778,643 ) 89.4 % (641,705 ) 92.9 % Total Consolidated Net Loss Attributable to Common Shareholders $ (870,895 ) 100.0 % $ (690,707 ) 100.0 % Income tax benefit (expense), net: United States $ 582,019 100.0 % $ (18,115 ) 100.0 % Consolidated Sales, net by category: Whiskey $ 9,708,985 42.9 % $ 9,484,388 41.1 % Rum 3,550,033 15.7 % $ 4,557,023 19.7 % Liqueurs 1,874,946 8.3 % 1,987,096 8.6 % Vodka 226,757 1.0 % 320,578 1.4 % Tequila - 0.0 % 58,683 0.3 % Ginger beer 7,275,020 32.1 % 6,696,620 29.0 % Total Consolidated Sales, net $ 22,635,741 100.0 % $ 23,104,388 100.0 % As of June 30, 2019 As of March 31, 2019 Consolidated Assets: International $ 3,264,493 3.8 % $ 3,382,553 4.0 % United States 81,685,530 96.2 % 81,598,013 96.0 % Total Consolidated Assets $ 84,950,023 100.0 % $ 84,980,566 100.0 %

Organization and Summary of S_3

Organization and Summary of Significant Accounting Policies (Details Narrative) - USD ($)	1 Months Ended	3 Months Ended
	Jul. 31, 2019	Jun. 30, 2019	Apr. 02, 2019	Mar. 31, 2019
Uncertain tax related to interest and penalties		$ 43,816
Operating lease, right-of-use assets		322,391
Operating lease liabilities		290,801
Accounting Standards Update 2016-02 [Member]
Operating lease, right-of-use assets		446,026	$ 446,026
Operating lease liabilities		$ 446,026	$ 446,026
Subsequent Event [Member] | Ares Credit Facility [Member]
Line of credit facility, expiration date	Jul. 31, 2023
Subsequent Event [Member] | Ares Credit Facility [Member] | 11% Subordinated Note [Member]
Subordinated debt repaid	$ 20,000,000
Debt instrument, interest rate	11.00%
Debt instrument, maturity date	Sep. 15, 2020
Subsequent Event [Member] | Ares Credit Facility [Member] | Minimum [Member]
Line of credit facility, borrowing capacity	$ 27,000,000
Subsequent Event [Member] | Ares Credit Facility [Member] | Maximum [Member]
Line of credit facility, borrowing capacity	$ 60,000,000
Gosling-Castle Partners Inc [Member]
Equity method investee, cumulative percentage of ownership interest		80.10%

Basic and Diluted Net Loss Pe_3

Basic and Diluted Net Loss Per Common Share - Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share (Details) - shares	3 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Common shares not included in calculating diluted net loss per share	14,993,325	16,850,748
Stock Options [Member]
Common shares not included in calculating diluted net loss per share	13,504,575	14,797,442
Unvested Restricted Stock [Member]
Common shares not included in calculating diluted net loss per share	1,488,750	1,997,750
5% Convertible Notes [Member]
Common shares not included in calculating diluted net loss per share		55,556

Basic and Diluted Net Loss Pe_4

Basic and Diluted Net Loss Per Common Share - Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share (Details) (Parenthetical)	3 Months Ended
	Jun. 30, 2018
Earnings Per Share [Abstract]
Conversion of convertible notes, percent	5.00%

Inventories (Details Narrative)

Inventories (Details Narrative) - USD ($)	3 Months Ended
	Jun. 30, 2019	Mar. 31, 2019
Inventory Disclosure [Abstract]
Percentage of raw materials located outside united states	6.00%	6.00%
Percentage of finished goods located outside united states	6.00%	8.00%
Payment to acquire inventory	$ 2,101,255

Inventories - Schedule of Inven

Inventories - Schedule of Inventory (Details) - USD ($)	Jun. 30, 2019	Mar. 31, 2019
Inventory Disclosure [Abstract]
Raw materials	$ 29,813,380	$ 29,967,401
Finished goods - net	16,329,042	14,264,939
Total	$ 46,142,422	$ 44,232,340

Investments (Details Narrative)

Investments (Details Narrative) - USD ($)	3 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Mar. 31, 2019
Net income (loss) attributable to noncontrolling interest	$ 137,492	$ 383,341
Stockholders equity attributable to noncontrolling interest	6,887,884		$ 6,750,392
Income (loss) from equity method investments	(4,840)	34,028
Investment in non-consolidated affiliate equity	956,013		960,853
Gosling-Castle Partners Inc [Member]
Income (loss) from subsidiaries, before tax	905,878	2,526,084
Net income (loss) attributable to noncontrolling interest	180,270	502,691
Stockholders equity attributable to noncontrolling interest	6,887,884		6,750,392
Copperhead Distillery Company [Member]
Income (loss) from equity method investments	4,840	$ 34,028
Investment in non-consolidated affiliate equity	$ 956,013		$ 960,853

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets (Details Narrative) - USD ($)	Jun. 30, 2019	Mar. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	$ 496,226	$ 496,226

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets - Schedule of Finite-Lived Intangible Assets (Details) - USD ($)		Jun. 30, 2019	Mar. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Definite life brands		$ 170,000	$ 170,000
Trademarks		641,693	641,693
Rights		8,271,555	8,271,555
Product development		208,518	208,518
Patents		994,000	994,000
Other		55,460	55,460
Finite-Lived Intangible Assets, Gross		10,341,226	10,341,226
Less: accumulated amortization		8,733,119	8,689,254
Net		1,608,107	1,651,972
Other identifiable intangible assets - indefinite lived	[1]	4,112,972	4,112,972
Total intangible assets, net		$ 5,721,079	$ 5,764,944
[1]	Other identifiable intangible assets - indefinite lived consists of product formulations and the Company's relationships with its distillers.

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets - Schedule of Accumulated Amortization (Details) - USD ($)	Jun. 30, 2019	Mar. 31, 2019
Accumulated amortization	$ 8,733,119	$ 8,689,254
Definite Life Brands [Member]
Accumulated amortization	170,000	170,000
Trademarks [Member]
Accumulated amortization	451,035	440,056
Rights [Member]
Accumulated amortization	7,091,845	7,064,074
Product Development [Member]
Accumulated amortization	60,034	57,737
Patents [Member]
Accumulated amortization	$ 960,205	$ 957,387

Restricted Cash (Details Narrat

Restricted Cash (Details Narrative)	Jun. 30, 2019USD ($)	Jun. 30, 2019EUR (€)	Mar. 31, 2019USD ($)	Mar. 31, 2019EUR (€)
Restricted cash | $	$ 352,755		$ 352,428
Euro [Member]
Restricted cash | €		€ 310,349		€ 314,189

Notes Payable - Schedule of Not

Notes Payable - Schedule of Notes Payable and Credit Facility (Details) - USD ($)		Jun. 30, 2019	Mar. 31, 2019
Notes payable and credit facility		$ 47,086,219	$ 47,114,199
Note Payable - GCP Note [Member]
Notes payable and credit facility	[1]	214,225	211,580
11% Subordinated Note [Member]
Notes payable and credit facility	[2]	20,000,000	20,000,000
Foreign Revolving Credit Facilities [Member]
Notes payable and credit facility	[3]	112,388	87,678
Credit Facility [Member]
Notes payable and credit facility	[4]	$ 26,759,606	$ 26,814,941
[1]	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, 2019, $10,579 of accrued interest was converted to amounts due to affiliates. At June 30, 2019, $214,225, consisting of $211,580 of principal and $2,645 of accrued interest, due on the GCP Note is included in current liabilities. At March 31, 2019, $211,580 of principal due on the GCP Note is included in long-term liabilities.
[2]	In March 2017, the Company issued a promissory note to Frost Nevada Investments Trust (the "Holder"), an entity affiliated with Phillip Frost, M.D., in the aggregate principal amount of $20,000,000 (the "Subordinated Note"). The purpose of Company's issuance of the Subordinated Note was to finance the GCP Share Acquisition. The Subordinated Note bears interest quarterly at the rate of 11% per annum. In April 2018, the Company entered into a First Amendment to the Subordinated Note to extend the maturity date on the Subordinated Note from March 15, 2019 until September 15, 2020. No other provisions of the Subordinated Note were amended. In July 2019, in connection with the Eighth Amendment to the Amended Agreement as described in Note 7C, the Company prepaid $20,183,333, representing the outstanding indebtedness owed under the Subordinated Note, plus accrued, but unpaid, interest thereon. No prepayment penalties were incurred by the Company. Upon the prepayment of the outstanding indebtedness, the Subordinated Note was cancelled.
[3]	The Company has arranged various credit facilities aggregating €310,349 or $352,755 (translated at the June 30, 2019 exchange rate) and €314,189 or $352,428 (translated at the March 31, 2019 exchange rate) at June 30 and March 31, 2019, respectively, with an Irish bank, including overdraft coverage, creditors' insurance, customs and excise guaranty, a revolving credit facility and Company credit cards. These credit 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%. At June 30 and March 31, 2019, there was €98,878 or $112,388 (translated at the June 30, 2019 exchange rate) and €78,164 or $87,678 (translated at the March 31, 2019 exchange rate) of principal due on the foreign revolving credit facilities included in current maturities of notes payable, respectively.
[4]	In August 2011, the Company and CB-USA entered into a loan and security agreement (as amended and restated, and further amended, the "Amended Agreement") with a third-party lender ACF FinCo I LP ("ACF,") as successor in interest, which, as amended, provided for availability (subject to certain terms and conditions) of a facility of up to $21.0 million (the "Credit Facility") for the purpose of providing the Company with working capital, including a sublimit in the maximum principal amount of $7,000,000 to permit the Company to acquire aged whiskey inventory (the "Purchased Inventory Sublimit"), subject to certain conditions set forth in the Amended Agreement. The Company and CB-USA are referred to individually and collectively as the Borrower. Pursuant to the Loan Agreement Amendment, the Company and CB-USA may borrow up to the lesser of (x) $21,000,000 and (y) the sum of the borrowing base calculated in accordance with the Amended Agreement and the Purchased Inventory Sublimit.

Notes Payable - Schedule of N_2

Notes Payable - Schedule of Notes Payable and Credit Facility (Details) (Parenthetical)	1 Months Ended											3 Months Ended	6 Months Ended	10 Months Ended	12 Months Ended
	Jul. 31, 2019USD ($)	Jan. 31, 2019USD ($)	Nov. 30, 2018USD ($)	Oct. 31, 2018USD ($)	Jun. 30, 2018USD ($)	May 31, 2018USD ($)	Apr. 30, 2018USD ($)	Dec. 31, 2017USD ($)	Jan. 31, 2017USD ($)	Aug. 31, 2015USD ($)	Dec. 31, 2009USD ($)	Jun. 30, 2019USD ($)	Jun. 30, 2018USD ($)	Oct. 31, 2017USD ($)	Mar. 31, 2019USD ($)	Jun. 30, 2019EUR (€)	Mar. 31, 2019EUR (€)	Mar. 31, 2017USD ($)	Aug. 31, 2011USD ($)
Notes payable, current												$ 326,613			$ 87,678
Purchased inventory sublimit amount to acquire inventory										$ 3,000,000
Due to other related parties, current												834,167			834,167
Payment to acquire inventory												2,101,255
Debt issuance costs, net												141,091			142,143
Line of credit facility, remaining borrowing capacity												$ 99,303			42,916
Frost Gamma Investments Trust [Member]
Due to other related parties, current								$ 45,021	$ 51,500	150,000				$ 65,406
Mark E. Andrews, III [Member]
Due to other related parties, current								15,007	17,167	50,000				21,802
Richard J. Lampen [Member]
Due to other related parties, current								30,014	34,333	100,000				43,604
Brian L. Heller [Member]
Due to other related parties, current								12,756	14,592	42,500				18,532
Alfred J. Small [Member]
Due to other related parties, current								4,502	5,150	$ 15,000				6,541
Frost Nevada Investments Trust [Member] | Phillip Frost [Member]
Debt instrument, interest rate																		11.00%
Convertible notes payable, noncurrent																		$ 20,000,000
Loan and Security Agreement [Member] | Maximum [Member]
Line of credit facility, maximum borrowing capacity																			$ 21,000,000
Purchased Inventory Sublimit [Member]
Line of credit facility, interest rate during period												9.75%
Line of credit facility, interest rate description						(a) the Prime Rate plus 4.25%, (b) the LIBOR Rate plus 6.75% and (c) 7.50%.						The monthly facility fee is 0.75% per annum of the maximum Credit Facility
Percentage of monthly fee												0.75%
Monthly facility fee												$ 2,000
Debt instrument, interest rate during period					9.05031%	9.10805%	9.06175%					9.75%
Payment to acquire inventory							$ 2,001,000	$ 900,425	$ 1,030,000				$ 1,035,000	$ 1,308,125
Purchased Inventory Sublimit [Member] | Richard J. Lampen [Member]
Due to other related parties, current					$ 34,500		66,700						34,500
Purchased Inventory Sublimit [Member] | Mark E. Andrews, III [Member]
Due to other related parties, current					17,250		33,350						17,250
Purchased Inventory Sublimit [Member] | Brian L. Heller [Member]
Due to other related parties, current					14,663		28,348						14,663
Purchased Inventory Sublimit [Member] | Alfred J. Small [Member]
Due to other related parties, current					5,175		10,005						5,175
Purchased Inventory Sublimit [Member] | Frost Gamma Investments Trust [Member]
Due to other related parties, current					$ 51,750		$ 100,050						$ 51,750
Purchased Inventory Sublimit [Member] | Maximum [Member]
Line of credit facility, maximum borrowing capacity																			7,000,000
Amended Agreement [Member]
Debt instrument, interest rate during period					7.30031%	7.35805%	7.31175%					8.00%
Purchased inventory sublimit										Purchased Inventory Sublimit shall be limited to seventy percent (70%)
Proceeds from related party debt										$ 4,900,000
Closing fee payable										18,000
Commitment fee										$ 18,000
Participation Agreement [Member]
Debt instrument, interest rate												11.00%				11.00%
Fifth Amendment [Member]
Commitment fee				$ 50,000
Fifth Amendment [Member] | Maximum [Member]
Line of credit facility, borrowing capacity				25,000,000
Fifth Amendment [Member] | Minimum [Member]
Line of credit facility, borrowing capacity				$ 23,000,000
Sixth Amendment [Member]
Line of credit facility, expiration date			Jul. 31, 2020
Commitment fee			$ 57,500
Seventh Amendment [Member]
Commitment fee		$ 20,000
Fixed charge coverage ratio		The Seventh Amendment also contains a fixed charge coverage ratio covenant requiring the Company to maintain a fixed charge coverage ratio of not less than 1.1 to 1.0.
Seventh Amendment [Member] | Maximum [Member]
Line of credit facility, borrowing capacity		$ 27,000,000
Seventh Amendment [Member] | Maximum [Member] | Subsequent Event [Member]
Line of credit facility, borrowing capacity	$ 60,000,000
Seventh Amendment [Member] | Minimum [Member]
Line of credit facility, borrowing capacity		$ 25,000,000
Seventh Amendment [Member] | Minimum [Member] | Subsequent Event [Member]
Line of credit facility, borrowing capacity	$ 27,000,000
Eighth Amendment [Member] | Subsequent Event [Member]
Line of credit facility, interest rate during period	5.50%
Line of credit facility, interest rate description	Amends the interest rate applicable to the revolving credit facility to be equal to the greatest of (x) the prime rate plus 1.50%, (y) the LIBOR rate plus 4.00% and (z) 5.50%
Annual facility fee receivables description	Reduces the monthly facility fee from 0.75% per annum of the maximum Facility amount to 0.25% per annum of the maximum Facility amount
Line of credit facility, expiration date	Jul. 31, 2023
Commitment fee	$ 150,000
Fixed charge coverage ratio	Contains a fixed charge coverage ratio covenant requiring the Company to maintain a fixed charge coverage ratio of not less than 1.1 to 1.0, measured on a rolling four (4) fiscal quarter basis; (vi) adds a covenant regarding revenue levels for certain Company brands; (vii) amends the permitted payments covenant to include repayment of the entire amount then due and payable under the terms of the 11% Subordinated Note due 2020 dated March 29, 2017, as amended, issued by the Company in favor of Frost Nevada Investments Trust
Line of credit facility, description	Extends the maturity date of the Facility to July 31, 2023.
Eighth Amendment [Member] | Subsequent Event [Member] | Prime Rate [Member]
Line of credit facility, interest rate during period	1.50%
Eighth Amendment [Member] | Subsequent Event [Member] | LIBOR [Member]
Line of credit facility, interest rate during period	4.00%
GCP Note [Member]
Debt instrument, periodic payment											$ 211,580	$ 214,225
Debt instrument, maturity date											Apr. 1, 2020
Debt instrument, interest rate											5.00%
Debt instrument, accrued interest												2,645			10,579
Debt instrument, principal amount												211,580			211,580
Subordinated Note [Member]
Debt maturity description							In April 2018, the Company entered into a First Amendment to the Subordinated Note to extend the maturity date on the Subordinated Note from March 15, 2019 until September 15, 2020.
11% Subordinated Note [Member] | Eighth Amendment [Member] | Subsequent Event [Member]
Subordinated debt repaid	$ 20,183,333
Irish Bank [Member]
Line of credit facility, maximum borrowing capacity												$ 352,755			$ 352,428
Line of credit facility, interest rate during period												1.70%			1.70%
Notes payable, current												$ 112,388			$ 87,678
Irish Bank [Member] | Euro [Member]
Line of credit facility, maximum borrowing capacity | €																€ 310,349	€ 314,189
Notes payable, current | €																€ 98,878	€ 78,164
Credit Facility [Member]
Debt instrument, interest rate during period												3.25%
Annual facility fee receivables description												ACF also receives 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 facility, expiration date												Jul. 31, 2020
Long-term line of credit												$ 26,900,697			$ 26,957,084
Credit Facility [Member] | Loan and Security Agreement [Member] | Maximum [Member]
Line of credit facility, maximum borrowing capacity																			$ 21,000,000
Credit Facility [Member] | Amended Agreement [Member]
Line of credit facility, interest rate during period												8.00%
Line of credit facility, interest rate description						(a) the Prime Rate plus 3.00%, (b) the LIBOR Rate plus 5.50% and (c) 6.00%.
Credit Facility [Member] | Amended Agreement [Member] | Maximum [Member]
Line of credit facility, maximum borrowing capacity						$ 23,000,000
Credit Facility [Member] | Amended Agreement [Member] | Minimum [Member]
Line of credit facility, maximum borrowing capacity						$ 21,000,000

Equity (Details Narrative)

Equity (Details Narrative) - 2017 Employee Stock Purchase Plan [Member] - shares	3 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Feb. 28, 2017
Number of stock reserved for future issuance			3,000,000
Number of shares acquired under the plan	55,564	41,902

Stock-Based Compensation (Detai

Stock-Based Compensation (Details Narrative) - USD ($)	3 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Stock-based compensation expense	$ 439,270	$ 490,485
Unrecognized compensation cost	$ 2,282,871
Number of unvested options	767,250
Number of stock option shares exercised during the period	171,000	503,166
Share-based payment arrangement, expense, tax benefit
Unvested Restricted Stock [Member]
Number of unvested options	1,488,750
Unvested Option [Member]
Expected to be recognized, weighted average period	10 months 25 days
Unvested Restricted Shares [Member]
Expected to be recognized, weighted average period	2 years 6 months

Leases (Details Narrative)

Leases (Details Narrative) - USD ($)	Jun. 30, 2019	Apr. 02, 2019	Mar. 31, 2019
Operating lease, right-of-use assets	$ 322,391
Operating lease liabilities	290,801
Accounting Standards Update 2016-02 [Member]
Operating lease, right-of-use assets	446,026	$ 446,026
Operating lease liabilities	$ 446,026	$ 446,026

Leases - Schedule of Components

Leases - Schedule of Components Lease Cost Related (Details) - USD ($)	3 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Leases [Abstract]
Operating lease cost	$ 63,137
Variable lease cost	10,992
Amortization of right-of-use assets	5,038
Interest on lease liabilities	1,272
Total lease cost	$ 80,441

Leases - Schedule of Supplement

Leases - Schedule of Supplemental Cash Flow Information Related to Leases (Details)	3 Months Ended
	Jun. 30, 2019USD ($)
Leases [Abstract]
Operating cash flows from operating leases	$ 94,705
Financing cash flows from financing leases	$ 5,735

Leases - Schedule of Operating

Leases - Schedule of Operating and Financing Lease Assets and Liabilities (Details) - USD ($)	Jun. 30, 2019	Mar. 31, 2019
Leases [Abstract]
Operating lease right-of-use assets	$ 322,391
Current operating lease liability	249,096
Non-current operating lease liability	41,708
Total operating lease liabilities	290,801
Equipment, at cost	65,127
Accumulated amortization	(5,051)
Equipment, net	60,076
Lease liabilities - current	18,820
Lease liabilities - long-term	41,832
Total finance lease liabilities	$ 60,655
Weighted average remaining lease term: Operating leases	1 year 11 days
Weighted average remaining lease term: Finance leases	3 years 2 months 27 days
Weighted average discount rate: Operating leases	8.00%
Weighted average discount rate: Finance leases	8.00%

Leases - Schedule of Maturity o

Leases - Schedule of Maturity of Operating and Financing Lease Liabilities (Details)	Jun. 30, 2019USD ($)
Leases [Abstract]
2020	$ 249,514
2021	43,536
2022	10,884
2023
Total lease payments	303,934
Less: imputed interest	(13,133)
Total	290,801
2020	17,244
2021	20,796
2022	18,600
2023	12,400
Total lease payments	69,040
Less: imputed interest	(8,385)
Total	$ 60,655

Leases - Schedule of Future Min

Leases - Schedule of Future Minimum Lease Payments Under Non-cancelable Operating Lease (Details)	Jun. 30, 2019USD ($)
Leases [Abstract]
2020	$ 388,694
2021	65,360
2022	26,663
Total	$ 480,717

Commitments and Contingencies (

Commitments and Contingencies (Details Narrative)	3 Months Ended		12 Months Ended
	Jun. 30, 2019USD ($)	Jun. 30, 2019EUR (€)	Dec. 31, 2019USD ($)
Newly Distilled Bourbon [Member]
Long term purchased amount	$ 2,322,450
Subsequent Event [Member] | Newly Distilled Bourbon [Member]
Contract year ending			Dec. 31, 2019
Long-term purchase commitment, amount			$ 4,550,000
Irish Whiskeys [Member] | Blended Irish Whiskeys [Member]
Long-term purchase commitment, amount	$ 1,402,562
Irish Whiskeys [Member] | Blended Irish Whiskeys [Member] | Euro [Member]
Long-term purchase commitment, amount | €		€ 1,233,954
Irish Whiskeys [Member] | Blended Irish Whiskeys [Member] | Four Contract Year [Member]
Long term purchase commitment percentage agreed to purchase	90.00%	90.00%
Contract year ending	Jun. 30, 2020	Jun. 30, 2020
Irish Whiskeys [Member] | Single Malt Irish Whiskeys [Member]
Long-term purchase commitment, amount	$ 678,565
Irish Whiskeys [Member] | Single Malt Irish Whiskeys [Member] | Euro [Member]
Long-term purchase commitment, amount | €		€ 596,992
Irish Whiskeys [Member] | Single Malt Irish Whiskeys [Member] | Twelve Contract Year [Member]
Long term purchase commitment percentage agreed to purchase	80.00%	80.00%
Contract year ending	Jun. 30, 2020	Jun. 30, 2020

Concentrations (Details Narrati

Concentrations (Details Narrative)	3 Months Ended		12 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Mar. 31, 2019
Concentration risk, percentage	100.00%	100.00%
Sales Revenue, Net [Member]
Concentration risk, percentage	100.00%	100.00%
Customer Concentration Risk [Member] | Sales Revenue, Net [Member]
Concentration risk, percentage	42.70%	36.40%
Customer Concentration Risk [Member] | Accounts Receivable [Member]
Concentration risk, percentage	46.10%		31.70%

Geographic Information (Details

Geographic Information (Details Narrative)	3 Months Ended
	Jun. 30, 2019Number
Segment Reporting [Abstract]
Number of Reportable Segments	1

Geographic Information - Schedu

Geographic Information - Schedule of Segment Reporting Information, by Segment (Details) - USD ($)	3 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Mar. 31, 2019
Revenues from External Customers and Long-Lived Assets [Line Items]
Total Consolidated Sales, net	$ 22,635,741	$ 23,104,388
Concentration Risk, Percentage	100.00%	100.00%
Total Consolidated (Loss) Income from Operations	$ (30,221)	$ 684,604
Consolidated (Loss) Income from Operations, Percentage	100.00%	100.00%
Total Consolidated Net Loss Attributable to Common Shareholders	$ (870,895)	$ (690,707)
Consolidated Net Loss Attributable to Common Shareholders, Percentage	100.00%	100.00%
Income tax benefit (expense), net	$ 582,019	$ (18,115)
Total Consolidated Assets	$ 84,950,023		$ 84,980,566
Consolidated Assets Percentage	100.00%		100.00%
Sales Revenue, Net [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total Consolidated Sales, net	$ 22,635,741	$ 23,104,338
Concentration Risk, Percentage	100.00%	100.00%
Whiskey [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total Consolidated Sales, net	$ 9,708,985	$ 9,484,388
Whiskey [Member] | Sales Revenue, Net [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Concentration Risk, Percentage	42.90%	41.10%
Rum [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total Consolidated Sales, net	$ 3,550,033	$ 4,557,023
Rum [Member] | Sales Revenue, Net [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Concentration Risk, Percentage	15.70%	19.70%
Liqueurs [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total Consolidated Sales, net	$ 1,874,946	$ 1,987,096
Liqueurs [Member] | Sales Revenue, Net [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Concentration Risk, Percentage	8.30%	8.60%
Vodka [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total Consolidated Sales, net	$ 226,757	$ 320,578
Vodka [Member] | Sales Revenue, Net [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Concentration Risk, Percentage	1.00%	1.40%
Tequila [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total Consolidated Sales, net		$ 58,683
Tequila [Member] | Sales Revenue, Net [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Concentration Risk, Percentage	0.00%	0.30%
Ginger Beer [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total Consolidated Sales, net	$ 7,275,020	$ 6,696,620
Ginger Beer [Member] | Sales Revenue, Net [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Concentration Risk, Percentage	32.10%	29.00%
International [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total Consolidated Sales, net	$ 2,050,009	$ 2,299,006
Concentration Risk, Percentage	9.10%	10.00%
Total Consolidated (Loss) Income from Operations	$ (118,357)	$ (77,906)
Consolidated (Loss) Income from Operations, Percentage	(391.60%)	(11.40%)
Total Consolidated Net Loss Attributable to Common Shareholders	$ (92,252)	$ (49,002)
Consolidated Net Loss Attributable to Common Shareholders, Percentage	10.60%	7.10%
Total Consolidated Assets	$ 3,264,493		$ 3,382,553
Consolidated Assets Percentage	3.80%		4.00%
U.S - Control States [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total Consolidated Sales, net	$ 4,062,985	$ 5,311,639
Concentration Risk, Percentage	19.70%	23.00%
U.S - Open States [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total Consolidated Sales, net	$ 16,522,747	$ 15,493,743
Concentration Risk, Percentage	80.30%	77.00%
United States [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total Consolidated Sales, net	$ 20,585,732	$ 20,805,382
Concentration Risk, Percentage	90.90%	90.00%
Total Consolidated (Loss) Income from Operations	$ 88,136	$ 762,510
Consolidated (Loss) Income from Operations, Percentage	291.60%	111.40%
Total Consolidated Net Loss Attributable to Common Shareholders	$ (778,643)	$ (641,705)
Consolidated Net Loss Attributable to Common Shareholders, Percentage	89.40%	92.90%
Income tax benefit (expense), net	$ 582,019	$ (18,115)
Income tax expense, net Percentage	100.00%	100.00%
Total Consolidated Assets	$ 81,685,530		$ 81,598,013
Consolidated Assets Percentage	96.20%		96.00%