TechPrecision (TPCS) 10-Q 13 Feb 14 2014 Q3 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	9 Months Ended
	Dec. 31, 2013	Feb. 06, 2013
Document and Entity Information	'	'
Entity Registrant Name	'TECHPRECISION CORP	'
Entity Central Index Key	'0001328792	'
Document Type	'10-Q	'
Document Period End Date	31-Dec-13	'
Amendment Flag	'false	'
Current Fiscal Year End Date	'--03-31	'
Entity Current Reporting Status	'Yes	'
Entity Filer Category	'Smaller Reporting Company	'
Entity Common Stock, Shares Outstanding	'	22,356,262
Document Fiscal Year Focus	'2014	'
Document Fiscal Period Focus	'Q3	'

CONDENSED_CONSOLIDATED_BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (USD $)	Dec. 31, 2013	Mar. 31, 2013
Current assets:	'	'
Cash and cash equivalents	$3,746,912	$3,075,376
Accounts receivable, less allowance for doubtful accounts of $25,010 for both years	2,404,059	4,330,637
Costs incurred on uncompleted contracts, in excess of progress billings	3,350,548	4,298,293
Inventories- raw materials	352,377	354,516
Income taxes receivable	374,030	374,030
Current deferred taxes	255,765	255,765
Other current assets	1,675,030	1,578,484
Total current assets	12,158,721	14,267,101
Property, plant and equipment, net	6,693,420	7,300,248
Total assets	18,852,141	21,567,349
Current liabilities:	'	'
Accounts payable	1,022,622	2,537,060
Contract loss provision	524,850	270,172
Accrued expenses	638,006	1,604,752
Accrued taxes payable	232,624	232,624
Deferred revenues	3,392,171	253,813
Short-term debt	'	500,000
Current maturity of long-term debt	5,197,236	5,784,479
Total current liabilities	11,007,509	11,182,900
Long-term debt, including capital leases	40,822	31,108
Noncurrent deferred taxes	255,765	255,765
Commitments and contingent liabilities (see Note 16)	'	'
Stockholders' Equity:	'	'
Preferred stock- par value $.0001 per share, 10,000,000 shares authorized, of which 9,890,980 are designated as Series A Preferred Stock, with 4,232,508 and 5,532,998 shares issued and outstanding at December 31, 2013 and March 31, 2013, respectively (liquidation preference: $1,206,265 and $1,576,904 at December 31, 2013 and March 31, 2013)	1,026,699	1,310,206
Common stock -par value $.0001 per share, authorized, 90,000,000 shares; issued and outstanding: 21,656,871 and 19,956,871 shares at December 31, 2013 and March 31, 2013, respectively	2,166	1,996
Additional paid in capital	5,645,687	5,076,552
Accumulated other comprehensive loss	-56,492	-221,418
Retained earnings	929,985	3,930,240
Total stockholders' equity	7,548,045	10,097,576
Total liabilities and stockholders' equity	$18,852,141	$21,567,349

CONDENSED_CONSOLIDATED_BALANCE1

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $)	Dec. 31, 2013	Mar. 31, 2013
Accounts receivable, allowance for doubtful accounts (in dollars)	$25,010	$25,010
Preferred stock, par value (in dollars per share)	$0.00	$0.00
Preferred stock, shares authorized	10,000,000	10,000,000
Common stock, par value (in dollars per share)	$0.00	$0.00
Common stock, shares authorized	90,000,000	90,000,000
Common stock, shares issued	21,656,871	19,956,871
Common stock, shares outstanding	21,656,871	19,956,871
Series A Convertible Preferred Stock	'	'
Preferred stock, designated as Series A Convertible Preferred Stock	9,890,980	9,890,980
Preferred stock, shares issued	4,232,508	5,532,998
Preferred stock, shares outstanding	4,232,508	5,532,998
Preferred stock, liquidation preference (in dollars)	$1,206,265	$1,576,904

CONDENSED_CONSOLIDATED_STATEME

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (USD $)	3 Months Ended		9 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2013	Dec. 31, 2012
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS	'	'	'	'
Net sales	$5,167,374	$7,293,877	$17,459,861	$22,518,168
Cost of sales	4,394,703	5,409,770	15,539,675	17,590,257
Gross profit	772,671	1,884,107	1,920,186	4,927,911
Selling, general and administrative	1,434,151	2,293,810	4,688,720	6,218,409
Loss from operations	-661,480	-409,703	-2,768,534	-1,290,498
Other expense, net	-16,017	-29,095	-16,584	-26,585
Interest expense	-80,802	-64,919	-218,575	-219,403
Interest income	619	1,454	3,438	4,335
Total other expense, net	-96,200	-92,560	-231,721	-241,653
Loss before income taxes	-757,680	-502,263	-3,000,255	-1,532,151
Income tax expense (benefit)	0	43,224	0	-235,375
Net loss	-757,680	-545,487	-3,000,255	-1,296,776
Other comprehensive (loss) income, before tax:	'	'	'	'
Change in unrealized loss on cash flow hedges	-36,678	25,359	-154,491	-53,783
Foreign currency translation adjustments	-8,039	-8,059	-10,435	6,052
Other comprehensive (loss) income, before tax	-44,717	17,300	-164,926	-47,731
Net tax benefit of other comprehensive loss items	'	10,004	'	-21,215
Other comprehensive (loss) income, net of tax	-44,717	7,296	-164,926	-26,516
Comprehensive loss	($802,397)	($538,191)	($3,165,181)	($1,323,292)
Net loss per share (basic and diluted) (in dollars per share)	($0.04)	($0.03)	($0.15)	($0.07)
Weighted average number of shares outstanding (basic and diluted) (in shares)	20,269,795	19,089,289	20,061,558	18,773,080

CONDENSED_CONSOLIDATED_STATEME1

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)	9 Months Ended
	Dec. 31, 2013	Dec. 31, 2012
CASH FLOWS FROM OPERATING ACTIVITIES	'	'
Net loss	($3,000,255)	($1,296,776)
Adjustments to reconcile net loss to net cash provided by operating activities:	'	'
Depreciation and amortization	722,525	624,763
Stock based compensation expense	285,798	448,608
Deferred income taxes	'	103,760
Provision for contract losses	254,678	20,000
Loss on sale of equipment	882	'
Changes in operating assets and liabilities:	'	'
Accounts receivable	1,930,882	1,409,395
Costs incurred on uncompleted contracts, in excess of progress billings	947,745	-991,660
Inventories - raw materials	4,075	-100,916
Other current assets	-136,473	-225,459
Taxes receivable	'	324,764
Other noncurrent assets	'	141,039
Accounts payable	-1,522,311	1,086,040
Accrued expenses	-801,873	-1,015,630
Deferred revenues	3,137,815	122,579
Net cash provided by operating activities	1,823,488	650,507
CASH FLOWS FROM INVESTING ACTIVITIES	'	'
Purchases of property, plant and equipment	-54,343	-395,367
Net cash used in investing activities	-54,343	-395,367
CASH FLOWS FROM FINANCING ACTIVITIES	'	'
Repayment of debt	-1,098,979	-1,065,558
Net cash used in financing activities	-1,098,979	-1,065,558
Effect of exchange rate on cash and cash equivalents	1,370	554
Net increase (decrease) in cash and cash equivalents	671,536	-809,864
Cash and cash equivalents, beginning of period	3,075,376	2,823,485
Cash and cash equivalents, end of period	3,746,912	2,013,621
Cash paid during the period for:	'	'
Interest	183,868	219,403
SUPPLEMENTAL INFORMATION - NONCASH INVESTING AND FINANCING TRANSACTIONS:	'	'
Common stock issued in conversion of Series A Convertible Preferred Stock (in shares)	1,700,000	1,565,999
Series A Convertible Preferred Stock converted (in shares)	1,300,490	1,197,984
Liability recorded for fair value of an interest rate swap contract in connection with a tax exempt bond	234,490	259,960
Tax on liability recorded for fair value of an interest rate swap contract in connection with a tax exempt bond	0	169,335
Capital lease arrangement for new office equipment	'	$46,378

DESCRIPTION_OF_BUSINESS

DESCRIPTION OF BUSINESS	9 Months Ended
	Dec. 31, 2013
DESCRIPTION OF BUSINESS	'
DESCRIPTION OF BUSINESS	'
	NOTE 1 - DESCRIPTION OF BUSINESS
	TechPrecision Corporation is a custom manufacturer of large scale metal fabricated and machined precision components and equipment. We offer a full range of services required to transform metallic raw materials into precise finished products. We sell these finished products to customers in three main industry groups: naval/maritime, energy and precision industrial. These products are used in a variety of markets including the alternative energy, medical, nuclear, defense, commercial, and aerospace industries.
	We are a Delaware corporation organized in February 2005 under the name Lounsberry Holdings II, Inc. The name was changed to TechPrecision Corporation on March 6, 2006. TechPrecision is the parent company of Ranor, Inc., or Ranor, a Delaware corporation. On November 4, 2010, TechPrecision announced it completed the formation of a wholly foreign owned enterprise (WFOE), under the laws of the People’s Republic of China, Wuxi Critical Mechanical Components Co., Ltd., or WCMC, to meet growing demand for local manufacturing of components in China. TechPrecision, WCMC and Ranor are collectively referred to as the “Company,” “we,” “us” or “our.”
	Liquidity and Capital Resources
	At December 31, 2013, we were in default and continue to be in default with the Loan and Security Agreement between Ranor and Santander Bank, (formerly Sovereign Bank) or the Bank, dated February 24, 2006, as amended, or the Loan Agreement. At March 31, 2013, we were not in compliance with the fixed charges and interest coverage financial covenants under the Loan Agreement, and the Bank did not agree to waive our non-compliance with the covenants. As a result, we were in default at March 31, 2013. In addition, the Bank did not renew the revolving credit facility which expired on July 31, 2013. The Bank had the right to accelerate payment of the debt in full upon 60 days written notice. As a consequence, all amounts under the Loan Agreement are classified as a current liability at December 31, 2013 ($5.2 million) and March 31, 2013 ($5.8 million).
	On January 16, 2014, we signed a Debt Forbearance and Modification Agreement, or Forbearance Agreement, with the Bank. Under the terms of the Forbearance Agreement, the Bank agreed to forbear from accelerating the principal payment in full until the forbearance termination date on March 31, 2014. In consideration for the granting of the Forbearance Agreement, we agreed, among other things, to: (i) have paid in full all interest and fees accrued under the Loan Agreement and other related documents through December 31, 2013 (at such interest rate and in accordance with the terms therein); (ii) reimburse the Bank for appraisal costs in the amount of $11,240; (iii) an increase in the interest rate of 2% for the MDFA Revenue Bonds, Ranor Issue, Series 2010A in the original aggregate principal amount of $4.25 million, or Series A Bonds, and the MDFA Revenue Bonds, Ranor Issue, Series 2010B in the original aggregate principal amount of $1.95 million, or Series B Bonds, to 5.6% and 6%, respectively, until March 31, 2014; (iv) the application of $394,329 and $445,671 of the Company’s restricted cash collateral deposit of $840,000 to pay off certain obligations under the Loan Agreement described above and the Series B Bonds respectively and (v) pay a forbearance fee of 3% of the net outstanding balance due from us to the Bank, which amounts to $128,433 due in installments until March 31, 2014.
	The Forbearance Agreement amends the Loan Agreement to, among other things, prohibit the Company’s Leverage Ratio (as such term is defined in the Loan agreement) to be greater than 1.75 to 1.0.  In the event we fail to complete a refinancing of the current outstanding obligations by March 31, 2014, the interest rate on outstanding obligations will convert to the Default Interest Rate. Default Interest Rates as of April 1, 2014 on the Series A and B Bonds would be 9.14% and 8.63%, respectively.
	We have incurred net losses of $3.0 million for the first nine months of the year ending March 31, 2014, or fiscal 2014, and $2.4 million and $2.1 million for the annual periods ended March 31, 2013 and 2012, respectively. At December 31, 2013 we had cash and cash equivalents of $3.7 million of which $0.1 million is located in China and which we may not be able to repatriate for use in the U.S. without undue cost or expense if at all. We borrowed $0.5 million under our revolving line of credit during the quarter ended March 31, 2013, and repaid this borrowing in full in July 2013.
	These factors raise substantial doubt about our ability to continue as a going concern. In order for us to continue operations beyond the next twelve months and be able to discharge our liabilities and commitments in the normal course of business, we must secure long-term financing on terms consistent with our business plans. In addition, we must increase our backlog and change the composition of our revenues to focus on recurring unit of delivery projects rather than custom first article and prototyping projects which, in the past, were not an efficient use of our manufacturing capacity, and reduce our operating expenses to be in line with current business conditions in order to increase profit margins and decrease the amount of cash used in operations. If we are successful in changing the composition of revenue and reducing costs, we expect that fiscal 2014 operating results will reflect positive operating cash flows. We have significantly reduced our selling, general and administrative expenses over the past nine months, and, if necessary, will continue to reduce operating costs and capital spending to enhance liquidity.
	The condensed consolidated financial statements for the three and nine months ended December 31, 2013 and the year ended March 31, 2013, or fiscal 2013, were prepared on the basis of a going concern which contemplates that we will be able to realize assets and discharge liabilities in the normal course of business. Accordingly, they do not give effect to adjustments that would be necessary should we be required to liquidate assets. Our ability to satisfy our total current liabilities of $11.0 million at December 31, 2013 and to continue as a going concern is dependent upon the availability of and our ability to timely secure long-term financing and the successful execution of our operating plan. The financial statements do not include any adjustments that might result from the outcome of these uncertainties.

BASIS_OF_PRESENTATION_AND_SIGN

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
	Dec. 31, 2013
BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES	'
BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES	'
	NOTE 2 — BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES
	Basis of Presentation
	The accompanying condensed consolidated financial statements include the accounts of TechPrecision, WCMC and Ranor. Intercompany transactions and balances have been eliminated in consolidation. The accompanying condensed consolidated balance sheet as of December 31, 2013, the condensed consolidated statements of operations and comprehensive loss for the three and nine months periods ended December 31, 2013 and 2012, and the condensed consolidated statements of cash flows for the nine months ended December 31, 2013 and 2012 are unaudited, but in the opinion of management, include all adjustments that are necessary for a fair presentation of our financial statements for interim periods in accordance with U.S. Generally Accepted Accounting Principles, or U.S. GAAP. All adjustments are of a normal, recurring nature, except as otherwise disclosed. The results of operations for an interim period are not necessarily indicative of the results of operations to be expected for the fiscal year.
	The Notes to Condensed Consolidated Financial Statements have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission, or SEC, for Quarterly Reports on Form 10-Q. Certain information and note disclosures normally included in financial statements prepared in accordance with U.S. GAAP have been condensed or omitted pursuant to such rules and regulations. These unaudited financial statements and related notes should be read in conjunction with our consolidated financial statements included with our Annual Report on Form 10-K, or 2013 Form 10-K, filed with the SEC for the year ended March 31, 2013.
	Significant Accounting Policies
	Our significant accounting policies are set forth in detail in Note 2 to the 2013 Form 10-K.

RECENTLY_ISSUED_AND_ADOPTED_AC

RECENTLY ISSUED AND ADOPTED ACCOUNTING PRONOUNCEMENTS	9 Months Ended
	Dec. 31, 2013
RECENTLY ISSUED AND ADOPTED ACCOUNTING PRONOUNCEMENTS	'
RECENTLY ISSUED AND ADOPTED ACCOUNTING PRONOUNCEMENTS	'
	NOTE 3 — RECENTLY ISSUED AND ADOPTED ACCOUNTING PRONOUNCEMENTS
	In July 2013, the Financial Accounting Standards Board, or FASB, issued Accounting Standards Update (ASU) No. 2013-11, Income Taxes (Topic 740): Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists (a consensus of the FASB Emerging Issues Task Force), or   ASU 2013-11, which provides clarification on the financial statement presentation of unrecognized tax benefits. ASU 2013-11 specifies that an unrecognized tax benefit (or a portion thereof) shall be presented in the financial statements as a reduction to a deferred tax asset when a net operating loss carryforward, a similar tax loss, or a tax credit carryforward exists. If such deferred tax asset is not available at the reporting date to settle additional income taxes resulting from the disallowance of a tax position, or the entity does not plan to use the deferred tax asset for such purpose given the option, the unrecognized tax benefit shall be presented in the financial statements as a liability and shall not be combined with deferred tax assets. The amendments in ASU 2013-11 are effective for fiscal years (and interim periods within those years) beginning after December 15, 2013, with early adoption permitted. We are currently evaluating the impact of adopting ASU 2013-11, but do not believe this guidance will have a material impact on the balance sheet presentation.
	In July 2013, the FASB issued No. ASU 2013-10, Derivatives and Hedging — Inclusion of the Fed Funds Effective Swap Rate (or Overnight Index Swap Rate) as a Benchmark Interest Rate for Hedge Accounting Purpose,  or ASU 2013-10, permitting entities to designate the Fed Funds Effective Swap Rate as a U.S. benchmark interest rate for hedge accounting purposes. Prior to the issuance of this guidance, only interest rates on direct treasury obligations of the U.S. government and the LIBOR swap rate were considered benchmark interest rates in the U.S. This guidance is effective immediately and can be applied prospectively for qualifying new or re-designated hedging relationships entered into on or after July 17, 2013. We do not use the Fed Funds Effective Swap Rate as a benchmark interest rate.
	In March 2013, the FASB issued ASU No. 2013-05, Parent’s Accounting for the Cumulative Translation Adjustment upon Derecognition of Certain Subsidiaries or Groups of Assets within a Foreign Entity or of an Investment in a Foreign Entity, or ASU 2013-05, which provides guidance for the treatment of the cumulative translation adjustment when an entity ceases to hold a controlling financial interest in a subsidiary or group of assets within a foreign entity. ASU 2013-05 is effective for interim and annual reporting periods beginning after December 15, 2013. Adopting ASU 2013-05 will not have a material impact on our results of operations, financial position or cash flows.
	In February 2013, the FASB issued ASU No. 2013-02, Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income, or ASU 2013-02, which requires an entity to provide information about the amounts reclassified out of accumulated other comprehensive income by component. In addition, an entity is required to present, either on the face of the statement where net income is presented or in the notes, significant amounts reclassified out of accumulated other comprehensive income by the respective line items of net income but only if the amount reclassified is required under U.S. GAAP to be reclassified to net income in its entirety in the same reporting period. For other amounts that are not required under U.S. GAAP to be reclassified in their entirety to net income, an entity is required to cross-reference to other disclosures required under U.S. GAAP that provide additional detail about those amounts. The new guidance is effective prospectively for fiscal years beginning after December 15, 2013, with early adoption permitted. We do not believe that the new guidance will have a material impact on our financial position and results of operations.

PROPERTY_PLANT_AND_EQUIPMENT

PROPERTY, PLANT AND EQUIPMENT	9 Months Ended
	Dec. 31, 2013
PROPERTY, PLANT AND EQUIPMENT	'
PROPERTY, PLANT AND EQUIPMENT	'
	NOTE 4 - PROPERTY, PLANT AND EQUIPMENT
		December 31, 2013			March 31, 2013
	Land	$	110,113		$	110,113
	Building and improvements	3,261,680			3,261,680
	Machinery equipment, furniture and fixtures	8,881,871			8,826,050
	Equipment under capital leases	65,568			46,378
	Total property, plant and equipment	12,319,232			12,244,221
	Less: accumulated depreciation	(5,625,812		)	(4,943,973		)
	Total property, plant and equipment, net	$	6,693,420		$	7,300,248
	Depreciation expense for the three and nine months ended December 31, 2013 and 2012 was $213,382 and $682,426, and $194,925 and $583,574, respectively.

COSTS_INCURRED_ON_UNCOMPLETED_

COSTS INCURRED ON UNCOMPLETED CONTRACTS	9 Months Ended
	Dec. 31, 2013
COSTS INCURRED ON UNCOMPLETED CONTRACTS	'
COSTS INCURRED ON UNCOMPLETED CONTRACTS	'
	NOTE 5 - COSTS INCURRED ON UNCOMPLETED CONTRACTS
		December 31, 2013			March 31, 2013
	Cost incurred on uncompleted contracts, beginning balance	$	6,180,839		$	10,879,743
	Total cost incurred on contracts during the period	14,198,622			21,215,441
	Less cost of sales, during the period	(15,539,675		)	(25,914,345		)
	Cost incurred on uncompleted contracts, ending balance	$	4,839,786		$	6,180,839
	Billings on uncompleted contracts, beginning balance	$	1,882,546		$	6,969,717
	Plus: Total billings incurred on contracts, during the period	17,066,553			27,385,748
	Less: Contracts recognized as revenue, during the period	(17,459,861		)	(32,472,919		)
	Billings on uncompleted contracts, ending balance	$	1,489,238		$	1,882,546
	Cost incurred on uncompleted contracts, ending balance	$	4,839,786		$	6,180,839
	Billings on uncompleted contracts, ending balance	1,489,238			1,882,546
	Costs incurred on uncompleted contracts, in excess of progress billings	$	3,350,548		$	4,298,293
	Contract costs consist primarily of labor and materials and related overhead, to the extent that such costs are recoverable. Revenues associated with these contracts are recorded only when the amount of recovery can be estimated reliably and realization is probable.
	As of December 31, 2013 and March 31, 2013, we had deferred revenues totaling $3,392,171 and $253,813, respectively. Deferred revenues represent customer prepayments on their contracts and completed contracts on which all revenue recognition criteria were not met. We record provisions for losses within costs of sales in our condensed consolidated statement of operations and comprehensive loss. We also receive advance billings and deposits representing down payments for acquisition of materials and progress payments on contracts. The agreements with our customers allow us to offset the progress payments against the costs incurred.
	We continued to incur losses on a customer projects at December 31, 2013. These losses are included in our statement of operations for the nine months ended December 31, 2013. We have recognized approximately $1.8 million in contract losses in our financial statements for the nine months ended December 31, 2013. We are in dialogue with customers to remedy project design and production activities that have caused these losses. When product design and production require alteration we endeavor to secure change orders from our customers.

OTHER_CURRENT_ASSETS

OTHER CURRENT ASSETS	9 Months Ended
	Dec. 31, 2013
OTHER CURRENT ASSETS	'
OTHER CURRENT ASSETS	'
	NOTE 6 — OTHER CURRENT ASSETS
		December 31, 2013		March 31, 2013
	Payments advanced to suppliers	$	454,682	$	267,513
	Prepaid insurance	264,665		187,086
	Collateral deposits (see Note 8)	875,061		1,032,348
	Deferred loan costs, net of amortization	17,830		57,930
	Other	62,792		33,607
	Total	$	1,675,030	$	1,578,484

ACCRUED_EXPENSES

ACCRUED EXPENSES	9 Months Ended
	Dec. 31, 2013
ACCRUED EXPENSES	'
ACCRUED EXPENSES	'
	NOTE 7 — ACCRUED EXPENSES
		December 31, 2013		March 31, 2013
	Accrued compensation	$	322,165	$	668,038
	Interest rate swaps market value	234,490		388,982
	Customer deposits	—		236,000
	Other	81,351		311,732
	Total	$	638,006	$	1,604,752

DEBT

DEBT	9 Months Ended
	Dec. 31, 2013
DEBT	'
DEBT	'
	NOTE 8 — DEBT
	Debt obligations outstanding were classified as of:	December 31, 2013		March 31, 2013
	Sovereign Bank Capital Expenditure Note due November 2014	$	168,538	$	306,432
	Sovereign Bank Staged Advance Note due March 2016	250,387		333,850
	MDFA Series A Bonds due January 2021	3,630,208		3,789,583
	MDFA Series B Bonds due January 2018	1,137,500		1,346,429
	Obligations under capital leases	10,603		8,185
	Total short-term debt	$	5,197,236	$	5,784,479
	Long-term obligations under capital leases	40,822		31,108
	Total debt	$	5,238,058	$	5,815,587
	On February 24, 2006, we entered into the Loan Agreement, with the Bank which has since been amended as further described below. Pursuant to the Loan Agreement, as amended, the Bank provided us with a secured term loan of $4.0 million, or the Term Note, and a revolving line of credit of up to $2.0 million, or Revolving Note. On January 29, 2007, the Loan Agreement was amended, adding a capital expenditure line of credit facility of $3.0 million, or Capital Expenditure Note. On March 29, 2010, the Bank agreed to extend to us a loan facility, or Staged Advance Note, in the amount of up to $1.9 million for the purpose of acquiring a gantry mill machine.
	On December 30, 2010, we completed a $6.2 million tax exempt bond financing with the Massachusetts Development Finance Authority, or the MDFA, pursuant to which the MDFA sold to the Bank the Series A Bonds and the Series B Bonds. We refer to Series A Bonds and Series B Bonds together as the Bonds. The proceeds of such sales were loaned to us under the terms of a Mortgage Loan and Security Agreement, dated as of December 1, 2010, by and among us, the MDFA and the Bank (as bond owner and disbursing agent), or the MLSA.
	In connection with the December 30, 2010 bond financing, we executed an Eighth Amendment to the Loan Agreement, or Eighth Amendment. The Eighth Amendment incorporated borrowing of the Bond proceeds into the borrowings covered by the Loan Agreement. The MLSA provides for customary events of default, including any event of default under the Loan Agreement described above. Subject to lapse of any applicable cure period, a default under the MLSA would cause the acceleration of all of our outstanding obligations under the MLSA. Under the MLSA and the Eighth Amendment, we were required, as of the end of each quarter, to meet certain financial covenants applicable while the Bonds remain outstanding, including, among other things, that the ratio of earnings available to cover fixed charges will be greater than or equal to 120%; the interest coverage ratio will equal or exceed 2:1; and that our leverage ratio will be less than or equal to 3:1.
	On August 8, 2011, an appraisal was completed on our Westminster, Massachusetts property assigning a value of $4.8 million to such property. The Series A Bonds require that the loan-to-value ratio not exceed 75%, indicating a maximum loan amount of $3.6 million.
	The bond balance exceeded such maximum loan amount at September 30, 2011 by approximately $490,000. On October 28, 2011, we and the Bank agreed to resolve the collateral shortfall by establishing a separate interest bearing restricted cash account in the amount of $490,000 which is pledged as additional collateral to the debt and restricted from use for any other purpose. The required restricted balance is being amortized down at the current monthly debt principal amount of $17,708. At December 31, 2013, the restricted cash is classified as a collateral deposit in other current assets of $30,056.
	At December 31, 2011, we were in compliance with our leverage ratio bank covenant. However, we did not meet the ratio of earnings available to cover fixed charges or the interest coverage ratio covenants. In February 2012, we executed a Tenth Amendment and obtained a waiver of the breach of such covenants from the Bank, which waiver covered the breach that otherwise would have occurred in connection with the covenant testing for the third quarter ended December 31, 2011 and waived the ratio of earnings available to cover fixed charges covenant at March 31, 2012. This waiver did not apply to any future covenant testing dates.
	On July 6, 2012, we executed an Eleventh Amendment and obtained a waiver for failure to comply with the fixed charge coverage ratio and the interest coverage ratio covenants at March 31, 2012. The Eleventh Amendment also waived the covenant testing requirements related to the ratio of earnings available to cover fixed charges and the interest coverage ratio for the quarters ended June 30, 2012 and September 30, 2012.
	The leverage ratio covenant remained in effect, and must not be greater than 2:1. We were in compliance with the leverage ratio covenant at September 30, 2012, as the actual leverage ratio was 1:1. Although there was no testing of the covenant to comply with the ratio of earnings available to cover fixed charges and the interest coverage covenants for the quarters ended June 30 and September 30, 2012, the Bank required that we have earnings before interest and taxes (EBIT) greater than $1 for the quarter ended September 30, 2012. We reported EBIT of $14,286 for the quarter ended September 30, 2012 and, therefore, were in compliance with this covenant. The $1 EBIT covenant at September 30, 2012 is not applicable to any future periods as testing of all covenants resumed on December 31, 2012 according to the terms of the Eleventh Amendment.
	Under the Eleventh Amendment the covenants were revised such that we were not to permit earnings available for fixed charges to be less than 125%, the interest coverage ratio to be less than 2:1, and the leverage ratio to be greater than 2:1 at any time, tested quarterly. Also, in connection with the Eleventh Amendment, we paid the Bank a fee of $10,000 and made a collateral deposit of $840,000 to cover estimated principal and interest on our obligation. This collateral was to be released to us upon successful compliance with all debt covenant tests. The Eleventh Amendment also revised covenant testing to provide that the ratio of earnings available to cover fixed charges and the interest coverage ratio covenant testing was to resume at December 31, 2012 on a trailing nine month basis, and continue at March 31, 2013 on a trailing nine month basis and quarterly thereafter on a trailing twelve month basis beginning on June 30, 2013.
	On February 14, 2013, we executed a Twelfth Amendment and obtained a waiver for failure to comply with the fixed charge coverage ratio and the interest coverage ratio covenants at December 31, 2012. The actual fixed charge ratio at December 31, 2012 was negative 41% and the actual interest coverage ratio was negative 256% as we reported an operating loss for the three months ended December 31, 2012. The leverage ratio covenant remained in effect (and must not be greater than 2:1). We were in compliance with the leverage ratio covenant at December 31, 2012, as the actual leverage ratio was 1:1. The Twelfth Amendment revised the covenant to provide that the ratio of earnings available to cover fixed charges and the interest ratio coverage covenant testing resumed at March 31, 2013 on a trailing three month basis, and continued at June 30, 2013 on a trailing six month basis, at September 30, 2013 on a trailing nine month basis, and quarterly thereafter on a trailing twelve month basis beginning at December 31, 2013. Also, in connection with the Twelfth Amendment, we paid the Bank a fee of $7,500 and were required to continue to maintain a collateral deposit of $840,000 to cover estimated principal and interest on our obligation. A collateral deposit of $845,005 is included in other current assets at December 31, 2013.
	At March 31, 2013, we were not in compliance with the fixed charges and interest coverage financial covenants under the Loan Agreement, and the Bank did not agree to waive the non-compliance with the covenants. As a result, we were in default at March 31, 2013. In addition, the Bank did not renew the revolving credit facility which expired on July 31, 2013. The Bank had the right to accelerate payment of the debt in full upon 60 days written notice. As a consequence, all amounts under the Loan Agreement are classified as a current liability at December 31, 2013 ($5.2 million) and March 31, 2013 ($5.8 million).
	At March 31, 2013 the actual fixed charge ratio was negative 81% and the actual interest coverage ratio was negative 351% as we reported an operating loss for the three months ended March 31, 2013. The leverage ratio covenant remained in effect (and must not be greater than 2:1). We were in compliance with the leverage ratio covenant at March 31, 2013, as the actual leverage ratio was 1:1.
	At December 31, 2013, we were in default and continue to be in default with the Loan Agreement with the Bank. On January 16, 2014, we entered into the Forbearance Agreement with the Bank (see Note 1 and Note 18). Under the terms of the Forbearance Agreement, the Bank agreed to forbear from accelerating the principal payment in full until the forbearance termination date on March 31, 2014. Until the termination date, we will continue to make payments pursuant to the terms of the Forbearance Agreement. We are currently in the process of seeking alternative financing from other lenders.
	Term Note:
	The Term Note issued on February 24, 2006 has a term of 7 years with an initial fixed interest rate of 9%. The interest rate on the Term Note converted from a fixed rate of 9% to a variable rate on February 28, 2011. From February 28, 2011 until maturity the Term Note will bear interest at the Prime Rate plus 1.5% (4.75% at March 31, 2013), payable on a quarterly basis. Principal was paid in quarterly installments of $142,857, plus interest, with a final payment made on March 1, 2013. There was $0 and $0 outstanding under this facility at December 31, 2013 and March 31, 2013, respectively.
	MDFA Series A and B Bonds:
	On December 30, 2010, we and Ranor completed a $6.2 million tax exempt bond financing with the MDFA pursuant to which the MDFA sold the Bonds to the Bank and loaned the proceeds of such sale to Ranor under the terms of the MLSA.
	The proceeds from the sale of the Series A Bonds were used to finance the Ranor facility acquisition and 19,500 sq. ft. expansion of Ranor’s manufacturing facility located in Westminster, Massachusetts, and the proceeds from the sale of the Series B Bonds were used to finance acquisitions of qualifying manufacturing equipment installed at the Westminster facility. Under the MLSA and related documents, the Westminster facility secures, and we further guarantee, Ranor’s obligations to the Bank and subsequent holders of the Bonds.
	The initial rate of interest on the Bonds was 1.96% for a period from the bond date to and including January 31, 2011, and the interest rate thereafter is 65% times the sum of 275 basis points plus one-month LIBOR. The interest rate at December 30, 2013 was 3.725%. We are required to make monthly payments of $17,708 and $23,214 with respect to the Loans beginning on February 1, 2011 until the maturity date or earlier redemption of each Bond. The Series A Bonds and the Series B Bonds will mature on January 1, 2021 and January 1, 2018, respectively. The Bonds are redeemable pursuant to the MLSA prior to maturity, in whole or in part, on any payment date in accordance with the terms of the MLSA.
	In connection with the Bond financing, we and the Bank entered into the International Swap and Derivatives Association, Inc. 2002 Master Agreement, dated December 30, 2010, or ISDA Master Agreement, pursuant to which the variable interest rates applicable to the Bonds were swapped for fixed interest rates of 4.14% on the Series A Bonds and 3.63% on the Series B Bonds. Under the ISDA Master Agreement, we and the Bank entered into two swap transactions, each with an effective date of January 3, 2011. The notional amount of outstanding fair value interest rate swaps totaled $4.8 and $5.6 million at December 31, 2013 and March 31, 2013, respectively. These derivative instruments, which are designated as cash flow hedges, are carried on our consolidated balance sheet at fair value with the effective portion of the gain or loss on the derivative reported in stockholders’ equity as a component of accumulated other comprehensive loss and subsequently reclassified into earnings in the same period or periods during which the hedged transaction affects earnings. The swaps will terminate on January 4, 2021 and January 2, 2018, respectively. The fair value of the interest rate swaps contracts were measured using market based level 2 inputs. The method employed to calculate the values conforms to the industry convention. The swap’s market value can be calculated any time by comparing the fixed rate set at the inception of the transaction and the “swap replacement rate,” which represents the market rate for an offsetting interest rate swap with the same Notional Amounts and final maturity date. The market value is then determined by calculating the present value interest differential between the contractual swap and the replacement swap. The termination value is the sum of the present value interest differential as described above plus the accrued interest due at termination.
	Revolving Note:
	We and the Bank agreed to extend the maturity date of the revolving credit facility to July 29, 2012 under the Ninth Amendment to the Loan Agreement. The maturity date of the revolving credit facility was extended to January 31, 2013 under the Eleventh Amendment, and was extended further to July 31, 2013 under the Twelfth Amendment. The Revolving Note bears interest at a variable rate determined as the Prime Rate, plus 1.5% annually on any outstanding balance. The borrowing limit on the Revolving Note is limited to the sum of 70% of our eligible accounts receivable plus 40% of eligible inventory up to a maximum borrowing limit of $2.0 million. In July 2013, we repaid the $500,000 borrowed under the Revolving Note. This facility expired by its terms on July 31, 2013 and was not renewed by the Bank. As of March 31, 2013 there was $500,000 borrowed and outstanding under this facility and $1.5 million was available under this facility.
	Capital Expenditure Note:
	The initial borrowing limit under the Capital Expenditure Note was $0.5 million and has been amended several times resulting in a borrowing limit of $3.0 million. On November 30, 2009, we elected not to renew this facility when it terminated. Borrowings outstanding under this facility were converted to a note when the facility terminated. The current rate of interest is LIBOR plus 3% or 3.18% at December 30, 2013. Principal and interest payments are due monthly based on a five year amortization schedule. The Capital Expenditure Note matures on November 30, 2014.
	Staged Advance Note:
	The Bank made certain loans to us limited to a cap of $1.9 million for the purpose of acquiring a gantry mill machine. The machine serves as collateral for the loan. The total aggregate amount of advances under this agreement could not exceed 80% of the actual purchase price of the gantry mill machine. All advances provided for a payment of interest only monthly through February 28, 2011, and thereafter, no further borrowings were permitted under this facility. The current interest rate is LIBOR plus 4% or 4.18% at December 30, 2013. Beginning on April 1, 2011, we were obligated to pay principal and interest sufficient to amortize the outstanding balance on a five year schedule. The Staged Advance Note matures on March 1, 2016.
	Capital Lease:
	We entered into a new capital lease in April 2012 for certain office equipment. The original lease term was for 63 months, bore interest at 6.0% and required monthly payments of principal and interest of $860. This lease was amended in fiscal 2014 when we purchased another replacement copier at Ranor. The revised lease term was extended by nine months and will expire in March 2018. The amount of the lease recorded in property, plant and equipment, net was $49,367 and $37,544 as of December 31, 2013 and March 31, 2013, respectively.

INCOME_TAXES

INCOME TAXES	9 Months Ended
	Dec. 31, 2013
INCOME TAXES	'
INCOME TAXES	'
	NOTE 9 - INCOME TAXES
	At the end of each interim period, we make an estimate of our annual U.S. and China expected effective tax rates. For the three and nine months ended December 31, 2013, we recorded income tax expense of $0 and $0, respectively, and for the three and nine months ended December 31, 2012, we recorded an income tax expense of $43,224 and benefit of $235,375, respectively. The lack of a tax benefit for the three and nine months ended December 31, 2013 was primarily the result of recording a full valuation allowance on our net deferred tax assets. A valuation allowance must be established for deferred tax assets when it is more likely than not that they will not be realized. The assessment was based on the weight of negative evidence at the balance sheet date, our recent operating losses and unsettled circumstances that, if unfavorably resolved, would adversely affect future operations and profit levels. We have determined that it is more likely than not that certain future tax benefits may not be realized.  A change in the estimates used to make this determination could require an increase in deferred tax assets if they become realizable.
	As of December 31, 2013, our federal net operating loss carry-forward was approximately $2.3 million. If not utilized, the federal net operating loss carry-forward will begin to expire in 2025. Section 382 of the Internal Revenue Code provides for a limitation on the annual use of net operating loss carryforwards following certain ownership changes that could limit our ability to utilize these carryforwards on a yearly basis. We experienced an ownership change in connection with the acquisition of Ranor in 2006.
	We file income tax returns in the U.S. federal jurisdiction, and various state jurisdictions. Our foreign subsidiary files separate income tax returns in the foreign jurisdiction in which it is located.  Tax years 2010 and forward remain open for examination.  We recognize interest and penalties accrued related to income tax liabilities in selling, general and administrative expense in our Condensed Consolidated Statements of Operations.

RELATED_PARTY_TRANSACTIONS

RELATED PARTY TRANSACTIONS	9 Months Ended
	Dec. 31, 2013
RELATED PARTY TRANSACTIONS	'
RELATED PARTY TRANSACTIONS	'
	NOTE 10 - RELATED PARTY TRANSACTIONS
	WCMC leased approximately 1,000 sq. ft. of office space from an affiliate of Cleantech Solutions International, or CSI, to serve as its primary office location in Wuxi, China. This lease expired on August 31, 2013. The original lease had an initial two-year term and rent under the lease with the CSI affiliate was approximately $17,000 on an annual basis. In addition to leasing property from an affiliate of CSI, we subcontract fabrication and machining services from CSI through their manufacturing facility in Wuxi, China and such subcontracted services are overseen by our personnel co-located at CSI in Wuxi, China. During the lease period, we viewed CSI as a related party because a holder of an approximate 5% fully diluted equity interest in CSI also held an approximate 36% fully diluted equity interest in TechPrecision. We paid $0.0 and $1.1 million to CSI for materials and manufacturing services for the nine months ended December 31, 2013 and 2012, respectively. WCMC is also subcontracting manufacturing services from other non-related party Chinese manufacturing companies on comparable terms as those it had with CSI. We are currently leasing new office space from a third party at a new location on a month to month basis for approximately $333 per month.

PROFIT_SHARING_PLAN

PROFIT SHARING PLAN	9 Months Ended
	Dec. 31, 2013
PROFIT SHARING PLAN	'
PROFIT SHARING PLAN	'
	NOTE 11 - PROFIT SHARING PLAN
	Ranor has a 401(k) profit sharing plan that covers substantially all Ranor employees who have completed 90 days of service. Ranor retains the option to match employee contributions. Our contributions were $2,677 and $9,402, for the three and nine months ended December 31, 2013, respectively, and $4,800 and $15,503, for the three and nine months ended December 31, 2012, respectively.

CAPITAL_STOCK

CAPITAL STOCK	9 Months Ended
	Dec. 31, 2013
CAPITAL STOCK	'
CAPITAL STOCK	'
	NOTE 12 - CAPITAL STOCK
	Preferred Stock
	We have 10,000,000 authorized shares of preferred stock and the Board of Directors has broad power to create one or more series of preferred stock and to designate the rights, preferences, privileges and limitation of the holders of such series. The Board of Directors has created one series of preferred stock - the Series A Convertible Preferred Stock.
	Each share of Series A Convertible Preferred Stock was initially convertible into one share of common stock. As a result of our failure  to meet certain levels of earnings before interest, taxes, depreciation and amortization for the years ended March 31, 2006 and 2007, the conversion rate changed, and, at December 31, 2009, each share of Series A Convertible Preferred Stock was convertible into 1.3072 shares of common stock, with an effective conversion price of $0.218.  Based on the current conversion ratio, as of December 31, 2013 and March 31, 2013, there were 5,532,735 and 7,232,735 common shares, respectively, underlying the Series A Convertible Preferred Stock.
	Upon any liquidation we would be required to pay $0.285 for each share of Series A Convertible Preferred Stock. The payment will be made before any payment to holders of any junior securities and after payment to holders of securities that are senior to the Series A Convertible Preferred Stock.
	During the nine months ended December 31, 2013 and fiscal 2013, there were 1,300,490 and 1,502,984 shares of Series A Convertible Preferred Stock converted into 1,700,000 and 1,964,694 shares of common stock. At December 31, 2013 and March 31, 2013, we had 4,232,508 and 5,532,998 shares, respectively, of Series A Convertible Preferred Stock outstanding.
	Common Stock Purchase Warrants
	On February 15, 2011, we entered into a contract with a third party pursuant to which we issued two-year warrants to purchase 100,000 shares of common stock at an exercise price of $1.65 per share. Using the Black-Scholes options pricing formula and assuming a risk free rate of 0.30%, volatility of 79%, an expected term of one year, and the price of the common stock on February 15, 2011 of $1.65 per share, the value of the warrant was calculated at $51,428, or $0.51 per share issuable upon exercise of the warrant. Since the warrant permitted delivery of unregistered shares, we have control in settling the contract by issuing equity. The cost of warrants was charged to selling, general and administrative. The warrants expired on February 14, 2013 and at March 31, 2013 there were no warrants outstanding.
	Common Stock
	We had 90,000,000 authorized common shares at December 31, 2013 and March 31, 2013, and there were 21,656,871 and 19,956,871 shares of common stock outstanding at December 31, 2013 and March 31, 2013, respectively.

STOCK_BASED_COMPENSATION

STOCK BASED COMPENSATION	9 Months Ended
	Dec. 31, 2013
STOCK BASED COMPENSATION	'
STOCK BASED COMPENSATION	'
	NOTE 13 - STOCK BASED COMPENSATION
	In 2006, the Company’s directors adopted, and the Company’s stockholders approved, the 2006 TechPrecision Corporation Long-term Incentive Plan, or, as amended, the Plan. The Plan provides for the grant of incentive and non-qualified options, stock grants, stock appreciation rights and other equity-based incentives to employees, including officers, and consultants. The Plan is to be administered by a committee of not less than two directors each of whom is to be an independent director. In the absence of a committee, the Plan is administered by the Board of Directors. Independent directors are not eligible for discretionary options. The maximum number of shares of common stock that may be issued under the Plan is 3,300,000 shares.
	Pursuant to the Plan, each newly elected independent director receives at the time of his or her election, a five-year option to purchase 50,000 shares of common stock at the market price on the date of his or her election.  In addition, the Plan provides for the annual grant of an option to purchase 10,000 shares of common stock on July 1st of each year following the third anniversary of the date of his or her first election.
	On June 13, 2013 and pursuant to the Plan, we granted stock options to our Executive Chairman to purchase 100,000 shares of common stock at an exercise price of $0.67 per share, the fair market value on the date of grant. The options have a term of ten years and will vest in three equal installments on each of the grant date and first two anniversaries of the grant date subject to continuous service as a member of the board through the second anniversary of the grant date.
	On June 13, 2013 and pursuant to the Plan, we granted stock options to certain executives to purchase 300,000 shares of common stock at an exercise price of $0.67 per share, the fair market value on the date of grant. The options have a term of ten years and will vest in three equal annual installments starting on the first anniversary of the grant date subject to continuous employment service.
	The fair value was estimated using the Black-Scholes option-pricing model based on the closing stock prices at the grant date and the weighted average assumptions specific to the underlying options. Expected volatility assumptions are based on the historical volatility of our common stock. The risk-free interest rate was selected based upon yields of five-year U.S. Treasury issues. We use the simplified method for all grants to estimate the expected term of the option. We assume that stock options will be exercised evenly over the period from vesting until the awards expire. As such, the assumed period for each vesting tranche is computed separately and then averaged together to determine the expected term for the award. Because of our limited stock exercise activity we did not rely on our historical exercise data. The assumptions utilized for option grants during the nine months ended December 31, 2013 were 100.7% for volatility, a risk free interest rate of 1.1%, and expected term of approximately nine years. At December 31, 2013, 1,489,506 shares of common stock were available for grant under the Plan. The following table summarizes information about options for the most recent annual income statements presented:
		Number Of		Weighted		Aggregate		Weighted
				Average		Intrinsic		Average
								Remaining
								Contractual Life
		Options		Exercise Price		Value		(in years)
	Outstanding at 3/31/2013	2,484,000		$	1.027	$	776,475	9.07
	Granted	400,000		$	0.67	—		—
	Forfeited	(1,471,000	)	$	0.952	—		—
	Outstanding at 12/31/2013	1,413,000		$	0.979	$	478,650	6.87
	Vested or expected to vest 12/31/2013	1,413,000		$	0.979	$	478,650	6.87
	Exercisable at 12/31/2013	926,667		$	0.991	$	301,350	4.92
	At December 31, 2013, there was $259,161 of total unrecognized compensation cost related to stock options. These costs are expected to be recognized over the next 39 months. The total fair value of shares vested during the nine months ended December 31, 2013 was $175,305. The following table summarizes the activity of our stock options outstanding but not vested for the nine months ended December 31, 2013:
		Number of		Weighted
		Options		Average
	Outstanding at 3/31/2013	854,334		$	1.249
	Granted	400,000		$	0.67
	Vested	(165,334	)	$	1.12
	Forfeited	(602,667	)	$	1.173
	Outstanding at 12/31/2013	486,333		$	0.957
	We made a discretionary grant outside of the Plan on June 13, 2013 of 200,000 options at an exercise price of $0.67 per share, the fair market value on the date of grant, to our non-employee directors in recognition of their additional services while we seek a permanent chief executive officer. The options have a term of ten years and will vest in three equal installment amounts on each of the grant date and first anniversaries of the grants and are subject to continuous service as members of the board through the second anniversary of the grant date. Although the grants were made outside of the Plan, the terms of the options are the same as those issued under the Plan.

CONCENTRATION_OF_CREDIT_RISK_A

CONCENTRATION OF CREDIT RISK AND MAJOR CUSTOMERS	9 Months Ended
	Dec. 31, 2013
CONCENTRATION OF CREDIT RISK AND MAJOR CUSTOMERS	'
CONCENTRATION OF CREDIT RISK AND MAJOR CUSTOMERS	'
	NOTE 14 - CONCENTRATION OF CREDIT RISK AND MAJOR CUSTOMERS
	We maintain bank account balances, which, at times, may exceed insured limits. We have not experienced any losses with these accounts and believe that we are not exposed to any significant credit risk on cash. At December 31, 2013, there were accounts receivable balances outstanding from three customers comprising 69% of the total receivables balance.
	The following table sets forth information as to accounts receivable from customers who accounted for more than 10% of our accounts receivable balance as of:
		December 31, 2013				March 31, 2013
	Customer	Dollars		Percent		Dollars		Percent
	A	$	1,081,061	45	%	$	915,632	21	%
	B	$	520,366	22	%	$	10,465	—	%
	C	$	55,900	2	%	$	2,379,078	55	%
	D	$	—	—	%	$	516,174	12	%
	We have been dependent in each year on a small number of customers who generate a significant portion of our business, and these customers change from year to year. The following table sets forth information as to net sales from customers who accounted for more than 10% of our revenue for the nine months ended:
		December 31, 2013				December 31, 2012
	Customer	Dollars		Percent		Dollars		Percent
	A	$	3,620,323	21	%	$	2,022,324	9	%
	B	$	2,948,045	17	%	$	3,268,739	15	%
	C	$	1,771,559	10	%	$	4,932,574	22	%
	D	$	1,152,653	7	%	$	4,203,458	19	%
	E	$	143,036	1	%	$	2,736,642	12	%

SEGMENT_INFORMATION

SEGMENT INFORMATION	9 Months Ended
	Dec. 31, 2013
SEGMENT INFORMATION	'
SEGMENT INFORMATION	'
	NOTE 15 — SEGMENT INFORMATION
	We operate our business under one segment — large scale fabricated and machined metal components and systems equipment. A significant amount of our operations, assets and customers are located in the United States. The following table presents our geographic information (net sales and net property, plant and equipment) by the country in which the legal subsidiary is domiciled and assets are located:
		Net Sales
		Nine months		Nine months		Property, Plant and Equipment, Net
		ended		ended
		December 31,		December 31,		December 31,		March 31,
		2013		2012		2013		2013
	United States	$	17,242,577	$	19,650,625	$	6,685,631	$	7,252,027
	China	$	217,284	$	2,867,543	$	7,789	$	19,346

COMMITMENTS

COMMITMENTS	9 Months Ended
	Dec. 31, 2013
COMMITMENTS	'
COMMITMENTS	'
	NOTE 16 — COMMITMENTS
	We have employment agreements with our executive officers. Such agreements provide for minimum salary levels, adjusted annually, as well as for incentive bonuses that are payable if specified company goals are attained. The aggregate annual commitment at December 31, 2013 for future salaries during the next twelve months, excluding bonuses, was approximately $895,000.

EARNINGS_PER_SHARE_EPS

EARNINGS PER SHARE (EPS)	9 Months Ended
	Dec. 31, 2013
EARNINGS PER SHARE (EPS)	'
EARNINGS PER SHARE (EPS)	'
	NOTE 17 - EARNINGS PER SHARE (EPS)
	Basic EPS is computed by dividing reported earnings available to stockholders by the weighted average shares outstanding. Diluted EPS also includes the effect of dilutive potential common shares. The following table provides a reconciliation of the numerators and denominators reflected in the basic and diluted loss per share computations, as required under FASB ASC 260.
		Three Months			Three Months			Nine Months			Nine Months
		ended			ended			ended			ended
		December 31,			December 31,			December 31,			December 31,
		2013			2012			2013			2012
	Basic EPS
	Net Loss	$	(757,680	)	$	(545,487	)	$	(3,000,255	)	$	(1,296,776	)
	Weighted average number of shares outstanding	20,269,795			19,089,289			20,061,558			18,773,080
	Basic and diluted loss per share	$	(0.04	)	$	(0.03	)	$	(0.15	)	$	(0.07	)
	Diluted EPS
	Net Loss	$	(757,680	)	$	(545,487	)	$	(3,000,255	)	$	(1,296,776	)
	Dilutive effect of stock options, warrants and preferred stock	—			—			—			—
	Diluted weighted average shares	20,269,795			19,089,289			20,061,558			18,773,080
	Diluted loss per share	$	(0.04	)	$	(0.03	)	$	(0.15	)	$	(0.07	)
	All potential common share equivalents that have an anti-dilutive effect (i.e. those that increase income per share or decrease loss per share) are excluded from the calculation of diluted EPS. For the three and nine month periods ended December 31, 2013, there were 5,029,112 and 5,201,532 shares, respectively, and for the three and nine months ended December 31, 2012 there were 5,053,475 and 4,325,006 shares, respectively, of potentially anti-dilutive stock options, warrants and convertible preferred stock, none of which were included in the EPS calculations above.

SUBSEQUENT_EVENTS

SUBSEQUENT EVENTS	9 Months Ended
	Dec. 31, 2013
SUBSEQUENT EVENTS	'
SUBSEQUENT EVENTS	'
	NOTE 18 — SUBSEQUENT EVENTS
	On January 16, 2014, we signed the Forbearance Agreement with the Bank. Under the terms of the Forbearance Agreement, the Bank agreed to forbear from accelerating the principal payment in full until the forbearance termination date on March 31, 2014. In consideration for the granting of the Forbearance Agreement, we agreed, among other things, to: (i) have paid in full all interest and fees accrued under the Loan Agreement and other related documents through December 31, 2013 (at such interest rate and in accordance with the terms therein); (ii) reimburse the Bank for appraisal costs in the amount of $11,240; (iii) an increase in the interest rate of 2% for the Series A Bonds and the Series B Bonds to 5.6% and 6%, respectively, until March 31, 2014; (iv) the application of $394,329 and $445,671 of the Company’s restricted cash collateral deposit of $840,000 to pay off certain obligations under the Loan Agreement described above and the Series B Bonds respectively and (v) pay a forbearance fee of 3% of the net outstanding balance due from us to the Bank, which amounts to $128,433 due in installments until March 31, 2014.
	In connection with shareholder transactions January and February 2014, we issued 1,640,534 shares of common stock in connection with the conversion of 1,255,000 shares of Series A Convertible Preferred Stock.

BASIS_OF_PRESENTATION_AND_SIGN1

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended
	Dec. 31, 2013
BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES	'
Basis of Presentation	'
	Basis of Presentation
	The accompanying condensed consolidated financial statements include the accounts of TechPrecision, WCMC and Ranor. Intercompany transactions and balances have been eliminated in consolidation. The accompanying condensed consolidated balance sheet as of December 31, 2013, the condensed consolidated statements of operations and comprehensive loss for the three and nine months periods ended December 31, 2013 and 2012, and the condensed consolidated statements of cash flows for the nine months ended December 31, 2013 and 2012 are unaudited, but in the opinion of management, include all adjustments that are necessary for a fair presentation of our financial statements for interim periods in accordance with U.S. Generally Accepted Accounting Principles, or U.S. GAAP. All adjustments are of a normal, recurring nature, except as otherwise disclosed. The results of operations for an interim period are not necessarily indicative of the results of operations to be expected for the fiscal year.
	The Notes to Condensed Consolidated Financial Statements have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission, or SEC, for Quarterly Reports on Form 10-Q. Certain information and note disclosures normally included in financial statements prepared in accordance with U.S. GAAP have been condensed or omitted pursuant to such rules and regulations. These unaudited financial statements and related notes should be read in conjunction with our consolidated financial statements included with our Annual Report on Form 10-K, or 2013 Form 10-K, filed with the SEC for the year ended March 31, 2013.

PROPERTY_PLANT_AND_EQUIPMENT_T

PROPERTY, PLANT AND EQUIPMENT (Tables)	9 Months Ended
	Dec. 31, 2013
PROPERTY, PLANT AND EQUIPMENT	'
Schedule of components of property, plant and equipment, net	'
		December 31, 2013			March 31, 2013
	Land	$	110,113		$	110,113
	Building and improvements	3,261,680			3,261,680
	Machinery equipment, furniture and fixtures	8,881,871			8,826,050
	Equipment under capital leases	65,568			46,378
	Total property, plant and equipment	12,319,232			12,244,221
	Less: accumulated depreciation	(5,625,812		)	(4,943,973		)
	Total property, plant and equipment, net	$	6,693,420		$	7,300,248

COSTS_INCURRED_ON_UNCOMPLETED_1

COSTS INCURRED ON UNCOMPLETED CONTRACTS (Tables)	9 Months Ended
	Dec. 31, 2013
COSTS INCURRED ON UNCOMPLETED CONTRACTS	'
Schedule of costs incurred on uncompleted contracts	'
		December 31, 2013			March 31, 2013
	Cost incurred on uncompleted contracts, beginning balance	$	6,180,839		$	10,879,743
	Total cost incurred on contracts during the period	14,198,622			21,215,441
	Less cost of sales, during the period	(15,539,675		)	(25,914,345		)
	Cost incurred on uncompleted contracts, ending balance	$	4,839,786		$	6,180,839
	Billings on uncompleted contracts, beginning balance	$	1,882,546		$	6,969,717
	Plus: Total billings incurred on contracts, during the period	17,066,553			27,385,748
	Less: Contracts recognized as revenue, during the period	(17,459,861		)	(32,472,919		)
	Billings on uncompleted contracts, ending balance	$	1,489,238		$	1,882,546
	Cost incurred on uncompleted contracts, ending balance	$	4,839,786		$	6,180,839
	Billings on uncompleted contracts, ending balance	1,489,238			1,882,546
	Costs incurred on uncompleted contracts, in excess of progress billings	$	3,350,548		$	4,298,293

OTHER_CURRENT_ASSETS_Tables

OTHER CURRENT ASSETS (Tables)	9 Months Ended
	Dec. 31, 2013
OTHER CURRENT ASSETS	'
Schedule of other current assets	'
		December 31, 2013		March 31, 2013
	Payments advanced to suppliers	$	454,682	$	267,513
	Prepaid insurance	264,665		187,086
	Collateral deposits (see Note 8)	875,061		1,032,348
	Deferred loan costs, net of amortization	17,830		57,930
	Other	62,792		33,607
	Total	$	1,675,030	$	1,578,484

ACCRUED_EXPENSES_Tables

ACCRUED EXPENSES (Tables)	9 Months Ended
	Dec. 31, 2013
ACCRUED EXPENSES	'
Schedule of accrued expenses	'
		December 31, 2013		March 31, 2013
	Accrued compensation	$	322,165	$	668,038
	Interest rate swaps market value	234,490		388,982
	Customer deposits	—		236,000
	Other	81,351		311,732
	Total	$	638,006	$	1,604,752

DEBT_Tables

DEBT (Tables)	9 Months Ended
	Dec. 31, 2013
DEBT	'
Schedule of outstanding debt obligations	'
	Debt obligations outstanding were classified as of:	December 31, 2013		March 31, 2013
	Sovereign Bank Capital Expenditure Note due November 2014	$	168,538	$	306,432
	Sovereign Bank Staged Advance Note due March 2016	250,387		333,850
	MDFA Series A Bonds due January 2021	3,630,208		3,789,583
	MDFA Series B Bonds due January 2018	1,137,500		1,346,429
	Obligations under capital leases	10,603		8,185
	Total short-term debt	$	5,197,236	$	5,784,479
	Long-term obligations under capital leases	40,822		31,108
	Total debt	$	5,238,058	$	5,815,587

STOCK_BASED_COMPENSATION_Table

STOCK BASED COMPENSATION (Tables)	9 Months Ended
	Dec. 31, 2013
STOCK BASED COMPENSATION	'
Summary of information about options for the most recent annual income statements presented	'
		Number Of		Weighted		Aggregate		Weighted
				Average		Intrinsic		Average
								Remaining
								Contractual Life
		Options		Exercise Price		Value		(in years)
	Outstanding at 3/31/2013	2,484,000		$	1.027	$	776,475	9.07
	Granted	400,000		$	0.67	—		—
	Forfeited	(1,471,000	)	$	0.952	—		—
	Outstanding at 12/31/2013	1,413,000		$	0.979	$	478,650	6.87
	Vested or expected to vest 12/31/2013	1,413,000		$	0.979	$	478,650	6.87
	Exercisable at 12/31/2013	926,667		$	0.991	$	301,350	4.92
Summary of activity of stock options outstanding but not vested	'
		Number of		Weighted
		Options		Average
	Outstanding at 3/31/2013	854,334		$	1.249
	Granted	400,000		$	0.67
	Vested	(165,334	)	$	1.12
	Forfeited	(602,667	)	$	1.173
	Outstanding at 12/31/2013	486,333		$	0.957

CONCENTRATION_OF_CREDIT_RISK_A1

CONCENTRATION OF CREDIT RISK AND MAJOR CUSTOMERS (Tables) (Customer concentration)	9 Months Ended
	Dec. 31, 2013
Receivable balance	'
Concentration of credit risk and major customers	'
Schedule of concentration of risk by factors	'
		December 31, 2013				March 31, 2013
	Customer	Dollars		Percent		Dollars		Percent
	A	$	1,081,061	45	%	$	915,632	21	%
	B	$	520,366	22	%	$	10,465	—	%
	C	$	55,900	2	%	$	2,379,078	55	%
	D	$	—	—	%	$	516,174	12	%
Net sales	'
Concentration of credit risk and major customers	'
Schedule of concentration of risk by factors	'
		December 31, 2013				December 31, 2012
	Customer	Dollars		Percent		Dollars		Percent
	A	$	3,620,323	21	%	$	2,022,324	9	%
	B	$	2,948,045	17	%	$	3,268,739	15	%
	C	$	1,771,559	10	%	$	4,932,574	22	%
	D	$	1,152,653	7	%	$	4,203,458	19	%
	E	$	143,036	1	%	$	2,736,642	12	%

SEGMENT_INFORMATION_Tables

SEGMENT INFORMATION (Tables)	9 Months Ended
	Dec. 31, 2013
SEGMENT INFORMATION	'
Schedule of geographic information (net sales and net property, plant and equipment) by the country in which the legal subsidiary is domiciled and assets are located	'
		Net Sales
		Nine months		Nine months		Property, Plant and Equipment, Net
		ended		ended
		December 31,		December 31,		December 31,		March 31,
		2013		2012		2013		2013
	United States	$	17,242,577	$	19,650,625	$	6,685,631	$	7,252,027
	China	$	217,284	$	2,867,543	$	7,789	$	19,346

EARNINGS_PER_SHARE_EPS_Tables

EARNINGS PER SHARE (EPS) (Tables)	9 Months Ended
	Dec. 31, 2013
EARNINGS PER SHARE (EPS)	'
Schedule of reconciliation of the numerators and denominators reflected in the basic and diluted loss per share computations	'
		Three Months			Three Months			Nine Months			Nine Months
		ended			ended			ended			ended
		December 31,			December 31,			December 31,			December 31,
		2013			2012			2013			2012
	Basic EPS
	Net Loss	$	(757,680	)	$	(545,487	)	$	(3,000,255	)	$	(1,296,776	)
	Weighted average number of shares outstanding	20,269,795			19,089,289			20,061,558			18,773,080
	Basic and diluted loss per share	$	(0.04	)	$	(0.03	)	$	(0.15	)	$	(0.07	)
	Diluted EPS
	Net Loss	$	(757,680	)	$	(545,487	)	$	(3,000,255	)	$	(1,296,776	)
	Dilutive effect of stock options, warrants and preferred stock	—			—			—			—
	Diluted weighted average shares	20,269,795			19,089,289			20,061,558			18,773,080
	Diluted loss per share	$	(0.04	)	$	(0.03	)	$	(0.15	)	$	(0.07	)

DESCRIPTION_OF_BUSINESS_Detail

DESCRIPTION OF BUSINESS (Details) (USD $)

3 Months Ended

9 Months Ended

12 Months Ended

0 Months Ended

0 Months Ended

0 Months Ended

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2013

Dec. 31, 2012

Mar. 31, 2013

Mar. 31, 2012

Jan. 16, 2014

Jan. 16, 2014

Jan. 31, 2011

Dec. 30, 2010

Jan. 16, 2014

Apr. 01, 2014

Jan. 16, 2014

Apr. 01, 2014

Debt Forbearance and Modification Agreement

Debt Forbearance and Modification Agreement

Bonds financing

Bonds financing

MDFA Series A Bonds due January 2021

MDFA Series A Bonds due January 2021

MDFA Series B Bonds due January 2018

MDFA Series B Bonds due January 2018

Subsequent event

Subsequent event

Debt Forbearance and Modification Agreement

Debt Forbearance and Modification Agreement

Debt Forbearance and Modification Agreement

Debt Forbearance and Modification Agreement

Maximum

Subsequent event

Subsequent event

Subsequent event

Subsequent event

DESCRIPTION OF BUSINESS

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Period of written notice to accelerate payment of the debt in full in case of default

'

'

'60 days

'

'

'

'

'

'

'

'

'

'

'

Amounts reclassified as a current liability due to default, under the loan and security agreement

$5,200,000

'

$5,200,000

'

$5,800,000

'

'

'

'

'

'

'

'

'

DESCRIPTION OF BUSINESS

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Reimbursement of appraisal costs due to the bank

'

'

'

'

'

'

11,240

'

'

'

'

'

'

'

Increase in interest rate (as a percent)

'

'

'

'

'

'

'

'

'

'

2.00%

'

2.00%

'

Aggregate principal amount

'

'

'

'

'

'

'

'

'

6,200,000

4,250,000

'

1,950,000

'

Interest rate (as a percent)

'

'

'

'

'

'

'

'

1.96%

'

5.60%

'

6.00%

'

Repayment of debt

'

'

'

'

'

'

394,329

'

'

'

'

'

445,671

'

Restricted cash collateral deposit applied to pay off obligation under the forbearance agreement

'

'

'

'

'

'

840,000

'

'

'

'

'

'

'

Forbearance fees (as a percent)

'

'

'

'

'

'

3.00%

'

'

'

'

'

'

'

Amount of forbearance fee payable in installments

'

'

'

'

'

'

128,433

'

'

'

'

'

'

'

Leverage ratio covenant

'

'

'

'

'

'

'

1.75

'

'

'

'

'

'

Default interest rates (as a percent)

'

'

'

'

'

'

'

'

'

'

'

9.14%

'

8.63%

Net loss

-757,680

-545,487

-3,000,255

-1,296,776

-2,400,000

-2,100,000

'

'

'

'

'

'

'

'

Cash and cash equivalents

3,746,912

2,013,621

3,746,912

2,013,621

3,075,376

2,823,485

'

'

'

'

'

'

'

'

Cash deposits located in China, which may not be able to be repatriated for use in the U.S. without undue cost or expense

100,000

'

100,000

'

'

'

'

'

'

'

'

'

'

'

Revolving credit facility

'

'

'

'

500,000

'

'

'

'

'

'

'

'

'

Total current liabilities

$11,007,509

'

$11,007,509

'

$11,182,900

'

'

'

'

'

'

'

'

'

PROPERTY_PLANT_AND_EQUIPMENT_D

PROPERTY, PLANT AND EQUIPMENT (Details) (USD $)	3 Months Ended		9 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2013	Dec. 31, 2012	Mar. 31, 2013
PROPERTY, PLANT AND EQUIPMENT	'	'	'	'	'
Total property, plant and equipment	$12,319,232	'	$12,319,232	'	$12,244,221
Less: accumulated depreciation	-5,625,812	'	-5,625,812	'	-4,943,973
Total property, plant and equipment, net	6,693,420	'	6,693,420	'	7,300,248
Depreciation expense	213,382	194,925	682,426	583,574	'
Land	'	'	'	'	'
PROPERTY, PLANT AND EQUIPMENT	'	'	'	'	'
Total property, plant and equipment	110,113	'	110,113	'	110,113
Building and improvements	'	'	'	'	'
PROPERTY, PLANT AND EQUIPMENT	'	'	'	'	'
Total property, plant and equipment	3,261,680	'	3,261,680	'	3,261,680
Machinery equipment, furniture and fixtures	'	'	'	'	'
PROPERTY, PLANT AND EQUIPMENT	'	'	'	'	'
Total property, plant and equipment	8,881,871	'	8,881,871	'	8,826,050
Equipment under capital leases	'	'	'	'	'
PROPERTY, PLANT AND EQUIPMENT	'	'	'	'	'
Total property, plant and equipment	$65,568	'	$65,568	'	$46,378

COSTS_INCURRED_ON_UNCOMPLETED_2

COSTS INCURRED ON UNCOMPLETED CONTRACTS (Details) (USD $)	3 Months Ended		9 Months Ended		12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2013	Dec. 31, 2012	Mar. 31, 2013
Cost incurred on uncompleted contracts	'	'	'	'	'
Cost incurred on uncompleted contracts, beginning balance	'	'	$6,180,839	$10,879,743	$10,879,743
Total cost incurred on contracts during the period	'	'	14,198,622	'	21,215,441
Less cost of sales, during the period	-4,394,703	-5,409,770	-15,539,675	-17,590,257	-25,914,345
Cost incurred on uncompleted contracts, ending balance	4,839,786	'	4,839,786	'	6,180,839
Billings on uncompleted contracts	'	'	'	'	'
Billings on uncompleted contracts, beginning balance	'	'	1,882,546	6,969,717	6,969,717
Plus: Total billings incurred on contracts, during the period	'	'	17,066,553	'	27,385,748
Less: Contracts recognized as revenue, during the period	-5,167,374	-7,293,877	-17,459,861	-22,518,168	-32,472,919
Billings on uncompleted contracts, ending balance	1,489,238	'	1,489,238	'	1,882,546
Cost incurred on uncompleted contracts	'	'	'	'	'
Cost incurred on uncompleted contracts, ending balance	4,839,786	'	4,839,786	'	6,180,839
Billings on uncompleted contracts, ending balance	1,489,238	'	1,489,238	'	1,882,546
Costs incurred on uncompleted contracts, in excess of progress billings	3,350,548	'	3,350,548	'	4,298,293
Deferred revenues	3,392,171	'	3,392,171	'	253,813
Contract losses	'	'	$1,800,000	'	'

OTHER_CURRENT_ASSETS_Details

OTHER CURRENT ASSETS (Details) (USD $)	Dec. 31, 2013	Mar. 31, 2013
OTHER CURRENT ASSETS	'	'
Payments advanced to suppliers	$454,682	$267,513
Prepaid insurance	264,665	187,086
Collateral deposits	875,061	1,032,348
Deferred loan costs, net of amortization	17,830	57,930
Other	62,792	33,607
Total	$1,675,030	$1,578,484

ACCRUED_EXPENSES_Details

ACCRUED EXPENSES (Details) (USD $)	Dec. 31, 2013	Mar. 31, 2013
ACCRUED EXPENSES	'	'
Accrued compensation	$322,165	$668,038
Interest rate swaps market value	234,490	388,982
Customer deposits	'	236,000
Other	81,351	311,732
Total	$638,006	$1,604,752

DEBT_Details

DEBT (Details) (USD $)

1 Months Ended

9 Months Ended

9 Months Ended

1 Months Ended

3 Months Ended

3 Months Ended

9 Months Ended

1 Months Ended

3 Months Ended

9 Months Ended

9 Months Ended

0 Months Ended

0 Months Ended

9 Months Ended

9 Months Ended

9 Months Ended

9 Months Ended

1 Months Ended

9 Months Ended

9 Months Ended

1 Months Ended

9 Months Ended

1 Months Ended

9 Months Ended

Aug. 31, 2011

Dec. 31, 2013

Mar. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

Jun. 30, 2013

Mar. 31, 2013

Dec. 31, 2012

Sep. 30, 2012

Jul. 06, 2012

Sep. 30, 2012

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

Mar. 31, 2013

Jan. 03, 2011

Dec. 31, 2013

Sep. 30, 2013

Jun. 30, 2013

Mar. 31, 2013

Mar. 31, 2013

Dec. 31, 2013

Dec. 31, 2012

Feb. 14, 2013

Dec. 31, 2013

Dec. 31, 2013

Mar. 01, 2013

Feb. 24, 2006

Dec. 31, 2013

Mar. 31, 2013

Jan. 29, 2007

Dec. 31, 2013

Mar. 31, 2013

Dec. 31, 2013

Mar. 31, 2013

Mar. 29, 2010

Dec. 31, 2013

Dec. 31, 2013

Jan. 31, 2011

Dec. 30, 2010

Dec. 31, 2013

Mar. 31, 2013

Oct. 28, 2011

Sep. 30, 2011

Dec. 31, 2013

Dec. 31, 2010

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

Mar. 31, 2013

Dec. 31, 2013

Apr. 30, 2012

Dec. 31, 2013

Mar. 31, 2013

Jul. 31, 2013

Dec. 31, 2013

Mar. 31, 2013

Feb. 24, 2006

MLSA and Eighth Amendment

MLSA and Eighth Amendment

Eleventh Amendment

Eleventh Amendment

Eleventh Amendment

Eleventh Amendment

Eleventh Amendment

Eleventh Amendment

Eleventh Amendment

Eleventh Amendment

ISDA Master Agreement

ISDA Master Agreement

ISDA Master Agreement

Twelfth Amendment

Twelfth Amendment

Twelfth Amendment

Twelfth Amendment

Twelfth Amendment

Twelfth Amendment

Twelfth Amendment

Twelfth Amendment

Twelfth Amendment

Twelfth Amendment

Sovereign Bank Secured Term Note due March, 2013

Sovereign Bank Secured Term Note due March, 2013

Sovereign Bank Secured Term Note due March, 2013

Sovereign Bank Secured Term Note due March, 2013

Sovereign Bank Capital Expenditure Note due November 2014

Sovereign Bank Capital Expenditure Note due November 2014

Sovereign Bank Capital Expenditure Note due November 2014

Sovereign Bank Staged Advance Note due March 2016

Sovereign Bank Staged Advance Note due March 2016

Sovereign Bank Staged Advance Note due March 2016

Sovereign Bank Staged Advance Note due March 2016

Bonds financing

Bonds financing

Bonds financing

MDFA Series A Bonds due January 2021

MDFA Series A Bonds due January 2021

MDFA Series A Bonds due January 2021

MDFA Series A Bonds due January 2021

MDFA Series A Bonds due January 2021

MDFA Series A Bonds due January 2021

MDFA Series A Bonds due January 2021

MDFA Series A Bonds due January 2021

MDFA Series B Bonds due January 2018

MDFA Series B Bonds due January 2018

MDFA Series B Bonds due January 2018

Long-term obligations under capital leases

Long-term obligations under capital leases

Long-term obligations under capital leases

Revolving Note

Revolving Note

Revolving Note

Revolving Note

Minimum

Maximum

Minimum

Minimum

Maximum

item

Other current assets

Maximum

Maximum

Other current assets

Ranor Inc.

Maximum

ISDA Master Agreement

ISDA Master Agreement

sqft

Debt and capital lease obligations

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Total short-term debt

'

$5,197,236

$5,784,479

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

$168,538

$306,432

$250,387

$333,850

'

'

'

'

'

$3,630,208

$3,789,583

'

'

'

'

'

'

$1,137,500

$1,346,429

'

'

$10,603

$8,185

'

'

'

'

Long-term obligations under capital leases

'

40,822

31,108

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Total debt

'

5,238,058

5,815,587

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Aggregate principal amount

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

4,000,000

'

'

'

'

'

'

'

'

'

'

'

6,200,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Maximum borrowings

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

3,000,000

3,000,000

'

1,900,000

'

1,900,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

2,000,000

'

2,000,000

Ratio of earnings to cover fixed charges (as a percent)

'

'

'

120.00%

'

'

'

'

'

'

'

125.00%

'

'

'

'

'

'

'

'

-81.00%

'

-41.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Actual ratio of earnings to cover interest charges (as a percent)

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

-351.00%

'

-256.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Interest coverage ratio that must be exceeded

'

'

'

2

'

'

'

'

'

'

2

2

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Leverage ratio covenant

'

'

'

'

3

'

'

'

'

'

'

'

2

'

'

'

'

'

'

'

'

'

'

'

'

2

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Actual leverage ratio

'

'

'

'

'

'

'

'

1

'

'

'

'

'

'

'

'

'

'

1

1

'

1

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Term of debt

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'7 years

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Initial interest rate (as a percent)

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

9.00%

'

'

'

'

'

'

'

'

'

'

1.96%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Variable interest basis

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'Prime Rate

'

'

'

'

'LIBOR

'

'LIBOR

'

'

'

'one-month LIBOR

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'Prime Rate

'

'

Interest margin (as a percent)

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

1.50%

'

'

'

'

3.00%

'

4.00%

'

'

'

2.75%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

1.50%

'

'

Effective interest rate at end of period (as a percent)

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

4.75%

'

3.18%

'

4.18%

'

'

'

3.73%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Amount of principal payable in quarterly installments

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

142,857

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Amount borrowed and outstanding under the facility

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

0

0

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

500,000

'

Value of property after appraisal

4,800,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Loan-to-value ratio (as a percent)

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

75.00%

'

'

'

'

'

'

'

'

'

'

'

Maximum loan amount

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

3,600,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Amount by which bond balance exceeded the maximum loan amount

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

490,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Current monthly debt principal amount

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

17,708

'

'

'

'

'

'

'

23,214

'

'

'

'

'

'

'

'

'

Required earnings before interest and taxes

'

'

'

'

'

'

'

'

'

'

1

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

EBIT

'

'

'

'

'

'

'

'

14,286

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Cash collateral deposit

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

490,000

'

30,056

'

'

'

'

'

'

'

'

'

'

'

'

'

Additional cash collateral in restricted cash account

'

'

'

'

'

'

'

'

'

840,000

'

'

'

'

'

'

'

'

'

'

'

'

'

840,000

845,005

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Period of written notice to accelerate payment of the debt in full in case of default

'

'60 days

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'60 days

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Amounts reclassified as a current liability due to default, under the loan and security agreement

'

5,200,000

5,800,000

'

'

'

'

'

'

'

'

'

'

'

'

'

5,400,000

'

'

5,800,000

5,800,000

5,400,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Trailing period used for quarterly determination of the ratio of earnings available to cover fixed charges and the interest ratio coverage under the terms of the loan covenants

'

'

'

'

'

'12 months

'9 months

'9 months

'

'

'

'

'

'

'

'

'12 months

'9 months

'6 months

'3 months

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Bank fee paid

'

'

'

'

'

'

'

'

'

10,000

'

'

'

'

'

'

'

'

'

'

'

'

'

7,500

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Area of land financed for expansion (in square feet)

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

19,500

'

'

'

'

'

'

'

'

'

'

'

'

Interest rate percentage multiplier

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

65.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Fixed interest rate (as a percent)

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

4.14%

'

'

3.63%

'

'

'

'

'

'

'

Number of interest rate swap transactions

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

2

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Notional amount of interest rate swap cash flow hedges

'

'

'

'

'

'

'

'

'

'

'

'

'

4,800,000

5,600,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Borrowing limit as a percentage of accounts receivable

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

70.00%

'

'

Borrowing limit as a percentage of inventory

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

40.00%

'

'

Funds available for borrowing

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

0

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

1,500,000

'

Amount of Revolving Note repaid

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

500,000

'

'

'

Initial maximum loan amount

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

500,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Period of amortization of debt instrument

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'5 years

'

'5 years

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Percentage of purchase price of gantry mill machine used for determination of aggregate amount of advances

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

80.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Amount of the lease recorded in property, plant and equipment, net

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

49,367

37,544

'

'

'

'

Capital lease term

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'63 months

'

'

'

'

'

'

Capital lease term extension

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'9 months

'

'

'

'

'

Capital lease interest rate (as a percent)

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

6.00%

'

'

'

'

'

Capital lease monthly payment

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

$860

'

'

'

'

'

INCOME_TAXES_Details

INCOME TAXES (Details) (USD $)	3 Months Ended		9 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2013	Dec. 31, 2012
INCOME TAXES	'	'	'	'
Income tax expense (benefit)	$0	$43,224	$0	($235,375)
Federal net operating loss carry-forward	$2,300,000	'	$2,300,000	'

RELATED_PARTY_TRANSACTIONS_Det

RELATED PARTY TRANSACTIONS (Details) (USD $)	9 Months Ended
	Dec. 31, 2013	Dec. 31, 2012
Related party transactions	'	'
Percentage of dilutive equity interest held by the common share holder	36.00%	'
Monthly rent	$333	'
WCMC | Affiliate of CSI	'	'
Related party transactions	'	'
Area of office space leased (in square feet)	1,000	'
Initial lease term	'2 years	'
Annual rent	17,000	'
CSI	'	'
Related party transactions	'	'
Percentage of dilutive equity interest held by the common share holder	5.00%	'
Payments for materials and manufacturing services	$0	$1,100,000

PROFIT_SHARING_PLAN_Details

PROFIT SHARING PLAN (Details) (Ranor, Inc., USD $)	3 Months Ended		9 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2013	Dec. 31, 2012
Ranor, Inc.	'	'	'	'
PROFIT SHARING PLAN	'	'	'	'
Eligibility for employer matching contributions, period of service	'	'	'90 days	'
Matching contributions made by the company	$2,677	$4,800	$9,402	$15,503

CAPITAL_STOCK_Details

CAPITAL STOCK (Details) (USD $)	0 Months Ended	9 Months Ended				1 Months Ended	9 Months Ended	12 Months Ended
	Feb. 15, 2011	Dec. 31, 2013	Dec. 31, 2012	Mar. 31, 2013	Dec. 31, 2013	Dec. 31, 2009	Dec. 31, 2013	Mar. 31, 2013
					Minimum	Series A convertible preferred stock	Series A convertible preferred stock	Series A convertible preferred stock
					item		item
Capital stock	'	'	'	'	'	'	'	'
Number of authorized shares	'	10,000,000	'	10,000,000	'	'	'	'
Number of series of preferred stock	'	'	'	'	1	'	1	'
Conversion ratio prior to adjustment	'	'	'	'	'	1	'	'
Conversion ratio	'	'	'	'	'	1.3072	'	'
Effective conversion price (in dollars per share)	'	'	'	'	'	$0.22	'	'
Number of shares of common stock issuable upon conversion of convertible preferred stock	'	'	'	'	'	'	5,532,735	7,232,735
Required price per share upon liquidation	'	'	'	'	'	'	$0.28	'
Shares converted into common stock	'	1,300,490	1,197,984	'	'	'	1,300,490	1,502,984
Number of shares of common stock issued for converted preferred stock	'	1,700,000	1,565,999	'	'	'	1,700,000	1,964,694
Shares outstanding	'	'	'	'	'	'	4,232,508	5,532,998
Term of warrants	'2 years	'	'	'	'	'	'	'
Warrants issued (in shares)	100,000	'	'	'	'	'	'	'
Shares of common stock that can be purchased through warrants	100,000	'	'	'	'	'	'	'
Exercise price of warrants (in dollars per share)	$1.65	'	'	'	'	'	'	'
Risk free rate (as a percent)	0.30%	'	'	'	'	'	'	'
Volatility (as a percent)	79.00%	'	'	'	'	'	'	'
Expected term	'1 year	'	'	'	'	'	'	'
Value of warrants upon exercise (in dollars per share)	$0.51	'	'	'	'	'	'	'
Fair value of warrants issuable (in dollars)	$51,428	'	'	'	'	'	'	'
Warrants outstanding (in shares)	'	'	'	0	'	'	'	'
Number of authorized common shares	'	90,000,000	'	90,000,000	'	'	'	'
Number of outstanding common shares	'	21,656,871	'	19,956,871	'	'	'	'

STOCK_BASED_COMPENSATION_Detai

STOCK BASED COMPENSATION (Details) (USD $)	9 Months Ended	12 Months Ended	9 Months Ended		0 Months Ended
	Dec. 31, 2013	Mar. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Jun. 13, 2013	Jun. 13, 2013	Jun. 13, 2013
			Director	Director	Executive Chairman	Executives	Non-employee directors
				Minimum	item	item	item
				item
Share based compensation	'	'	'	'	'	'	'
Number of directors on a committee to administer the plan	'	'	'	2	'	'	'
Maximum number of shares authorized to be issued	3,300,000	'	'	'	'	'	'
Terms of options	'	'	'5 years	'	'	'	'
Options granted (in shares)	400,000	'	50,000	'	100,000	300,000	200,000
Annual grants (in shares)	'	'	10,000	'	'	'	'
Exercise price of shares granted (in dollars per share)	$0.67	'	'	'	$0.67	$0.67	$0.67
Vesting period	'	'	'	'	'10 years	'10 years	'10 years
Number of equal annual installments in which options will vest	'	'	'	'	3	3	3
Assumption used in valuation of stock options	'	'	'	'	'	'	'
Yield term of U.S. Treasury issues on which risk free interest rate is based	'5 years	'	'	'	'	'	'
Volatility rate (as a percent)	100.70%	'	'	'	'	'	'
Risk free interest rate (as a percent)	1.10%	'	'	'	'	'	'
Expected term	'9 years	'	'	'	'	'	'
Additional general disclosure	'	'	'	'	'	'	'
Common stock available for grant under plan (in shares)	1,489,506	'	'	'	'	'	'
Number Of Options	'	'	'	'	'	'	'
Outstanding at the beginning of the period (in shares)	2,484,000	'	'	'	'	'	'
Granted (in shares)	400,000	'	50,000	'	100,000	300,000	200,000
Forfeited (in shares)	-1,471,000	'	'	'	'	'	'
Outstanding at the end of the period (in shares)	1,413,000	2,484,000	'	'	'	'	'
Vested or expected to vest at the end of the period (in shares)	1,413,000	'	'	'	'	'	'
Exercisable at the end of the period (in shares)	926,667	'	'	'	'	'	'
Weighted Average Exercise Price	'	'	'	'	'	'	'
Outstanding at the beginning of the period (in dollars per share)	$1.03	'	'	'	'	'	'
Granted (in dollars per share)	$0.67	'	'	'	$0.67	$0.67	$0.67
Forfeited (in dollars per share)	$0.95	'	'	'	'	'	'
Outstanding at the end of the period (in dollars per share)	$0.98	$1.03	'	'	'	'	'
Vested or expected to vest at the end of the period (in dollars per share)	$0.98	'	'	'	'	'	'
Exercisable at the end of the period (in dollars per share)	$0.99	'	'	'	'	'	'
Aggregate Intrinsic Value	'	'	'	'	'	'	'
Outstanding at the end of the period	$478,650	$776,475	'	'	'	'	'
Vested or expected to vest at the end of the period	478,650	'	'	'	'	'	'
Exercisable at the end of the period	301,350	'	'	'	'	'	'
Weighted Average Remaining Contractual Life	'	'	'	'	'	'	'
Outstanding at the end of the period	'6 years 10 months 13 days	'9 years 25 days	'	'	'	'	'
Vested or expected to vest at the end of the period	'6 years 10 months 13 days	'	'	'	'	'	'
Exercisable at the end of the period	'4 years 11 months 1 day	'	'	'	'	'	'
Additional information on stock options	'	'	'	'	'	'	'
Unrecognized compensation cost related to stock options	259,161	'	'	'	'	'	'
Period of recognition of unrecognized compensation expense	'39 months	'	'	'	'	'	'
Fair value of shares vested	$175,305	'	'	'	'	'	'
Stock options outstanding but not vested, Number of Options	'	'	'	'	'	'	'
Outstanding at the beginning of the period (in shares)	854,334	'	'	'	'	'	'
Granted (in shares)	400,000	'	50,000	'	100,000	300,000	200,000
Vested (in shares)	-165,334	'	'	'	'	'	'
Forfeited (in shares)	-602,667	'	'	'	'	'	'
Outstanding at the end of the period (in shares)	486,333	854,334	'	'	'	'	'
Stock options outstanding but not vested, Weighted Average Exercise Price	'	'	'	'	'	'	'
Outstanding at the beginning of the period (in dollars per share)	$1.25	'	'	'	'	'	'
Granted (in dollars per share)	$0.67	'	'	'	$0.67	$0.67	$0.67
Vested (in dollars per share)	$1.12	'	'	'	'	'	'
Forfeited (in dollars per share)	$1.17	'	'	'	'	'	'
Outstanding at the end of the period (in dollars per share)	$0.96	$1.25	'	'	'	'	'

CONCENTRATION_OF_CREDIT_RISK_A2

CONCENTRATION OF CREDIT RISK AND MAJOR CUSTOMERS (Details) (USD $)	3 Months Ended		9 Months Ended		12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2013	Dec. 31, 2012	Mar. 31, 2013
Concentration of credit risk and major customers	'	'	'	'	'
Accounts receivable balance	$2,404,059	'	$2,404,059	'	$4,330,637
Net sales	5,167,374	7,293,877	17,459,861	22,518,168	32,472,919
Receivable balance | Customer concentration	'	'	'	'	'
Concentration of credit risk and major customers	'	'	'	'	'
Number of major customers	'	'	3	'	'
Concentration risk percentage	'	'	69.00%	'	'
Receivable balance | Customer concentration | Customer A	'	'	'	'	'
Concentration of credit risk and major customers	'	'	'	'	'
Accounts receivable balance	1,081,061	'	1,081,061	'	915,632
Concentration risk percentage	'	'	45.00%	'	21.00%
Receivable balance | Customer concentration | Customer B	'	'	'	'	'
Concentration of credit risk and major customers	'	'	'	'	'
Accounts receivable balance	520,366	'	520,366	'	10,465
Concentration risk percentage	'	'	22.00%	'	'
Receivable balance | Customer concentration | Customer C	'	'	'	'	'
Concentration of credit risk and major customers	'	'	'	'	'
Accounts receivable balance	55,900	'	55,900	'	2,379,078
Concentration risk percentage	'	'	2.00%	'	55.00%
Receivable balance | Customer concentration | Customer D	'	'	'	'	'
Concentration of credit risk and major customers	'	'	'	'	'
Accounts receivable balance	'	'	'	'	516,174
Concentration risk percentage	'	'	'	'	12.00%
Net sales | Customer concentration | Customer A	'	'	'	'	'
Concentration of credit risk and major customers	'	'	'	'	'
Net sales	'	'	3,620,323	2,022,324	'
Concentration risk percentage	'	'	21.00%	9.00%	'
Net sales | Customer concentration | Customer B	'	'	'	'	'
Concentration of credit risk and major customers	'	'	'	'	'
Net sales	'	'	2,948,045	3,268,739	'
Concentration risk percentage	'	'	17.00%	15.00%	'
Net sales | Customer concentration | Customer C	'	'	'	'	'
Concentration of credit risk and major customers	'	'	'	'	'
Net sales	'	'	1,771,559	4,932,574	'
Concentration risk percentage	'	'	10.00%	22.00%	'
Net sales | Customer concentration | Customer D	'	'	'	'	'
Concentration of credit risk and major customers	'	'	'	'	'
Net sales	'	'	1,152,653	4,203,458	'
Concentration risk percentage	'	'	7.00%	19.00%	'
Net sales | Customer concentration | Customer E	'	'	'	'	'
Concentration of credit risk and major customers	'	'	'	'	'
Net sales	'	'	$143,036	$2,736,642	'
Concentration risk percentage	'	'	1.00%	12.00%	'

SEGMENT_INFORMATION_Details

SEGMENT INFORMATION (Details) (USD $)	3 Months Ended		9 Months Ended		12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2013	Dec. 31, 2012	Mar. 31, 2013
			item
SEGMENT INFORMATION	'	'	'	'	'
Number of operating segments	'	'	1	'	'
SEGMENT INFORMATION	'	'	'	'	'
Net Sales	$5,167,374	$7,293,877	$17,459,861	$22,518,168	$32,472,919
Property, Plant and Equipment, Net	6,693,420	'	6,693,420	'	7,300,248
United States	'	'	'	'	'
SEGMENT INFORMATION	'	'	'	'	'
Net Sales	'	'	17,242,577	19,650,625	'
Property, Plant and Equipment, Net	6,685,631	'	6,685,631	'	7,252,027
China	'	'	'	'	'
SEGMENT INFORMATION	'	'	'	'	'
Net Sales	'	'	217,284	2,867,543	'
Property, Plant and Equipment, Net	$7,789	'	$7,789	'	$19,346

COMMITMENTS_Details

COMMITMENTS (Details) (USD $)	Dec. 31, 2013
COMMITMENTS	'
Aggregate annual commitment for future salaries during the next twelve months, excluding bonuses	$895,000

EARNINGS_PER_SHARE_EPS_Details

EARNINGS PER SHARE (EPS) (Details) (USD $)	3 Months Ended		9 Months Ended		12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2013	Dec. 31, 2012	Mar. 31, 2013	Mar. 31, 2012
Basic EPS	'	'	'	'	'	'
Net Loss (in dollars)	($757,680)	($545,487)	($3,000,255)	($1,296,776)	($2,400,000)	($2,100,000)
Weighted average number of shares outstanding	20,269,795	19,089,289	20,061,558	18,773,080	'	'
Basic and diluted loss per share (in dollars per share)	($0.04)	($0.03)	($0.15)	($0.07)	'	'
Diluted EPS	'	'	'	'	'	'
Net Loss (in dollars)	($757,680)	($545,487)	($3,000,255)	($1,296,776)	($2,400,000)	($2,100,000)
Dilutive effect of stock options, warrants and preferred stock (in shares)	0	'	0	'	'	'
Diluted weighted average shares	20,269,795	19,089,289	20,061,558	18,773,080	'	'
Diluted loss per share (in dollars per share)	($0.04)	($0.03)	($0.15)	($0.07)	'	'
Antidilutive securities excluded from computation of earnings per share amount (in shares)	5,029,112	5,053,475	5,201,532	4,325,006	'	'

SUBSEQUENT_EVENTS_Details

SUBSEQUENT EVENTS (Details) (USD $)	9 Months Ended			12 Months Ended	1 Months Ended	0 Months Ended		0 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2013	Mar. 31, 2013	Feb. 13, 2014	Jan. 16, 2014	Jan. 31, 2011	Jan. 16, 2014	Jan. 16, 2014
			Series A Convertible Preferred Stock	Series A Convertible Preferred Stock	Subsequent event	Debt Forbearance and Modification Agreement	Bonds financing	MDFA Series A Bonds due January 2021	MDFA Series B Bonds due January 2018
					Series A Convertible Preferred Stock	Subsequent event		Debt Forbearance and Modification Agreement	Debt Forbearance and Modification Agreement
								Subsequent event	Subsequent event
Subsequent events	'	'	'	'	'	'	'	'	'
Reimbursement of appraisal costs due to the bank	'	'	'	'	'	$11,240	'	'	'
Increase in interest rate (as a percent)	'	'	'	'	'	'	'	2.00%	2.00%
Interest rate (as a percent)	'	'	'	'	'	'	1.96%	5.60%	6.00%
Repayment of debt	'	'	'	'	'	394,329	'	'	445,671
Restricted cash collateral deposit applied to pay off obligation under the forbearance agreement	'	'	'	'	'	840,000	'	'	'
Forbearance fees (as a percent)	'	'	'	'	'	3.00%	'	'	'
Amount of forbearance fee payable in installments	'	'	'	'	'	$128,433	'	'	'
Common stock issued in conversion of Series A Convertible Preferred Stock (in shares)	1,700,000	1,565,999	1,700,000	1,964,694	1,640,534	'	'	'	'
Series A Convertible Preferred Stock converted (in shares)	1,300,490	1,197,984	1,300,490	1,502,984	1,255,000	'	'	'	'