ELDORADO ARTESIAN SPRINGS INC

CIK:0000796124|SEC Filings

Statements of Operations - USD ($)	12 Months Ended
Statements of Operations - USD ($)	Mar. 31, 2015	Mar. 31, 2014
Revenue
Water and related, net	$ 12,497,850	$ 11,192,711
Resort operations	170,381	170,586
Total revenues	12,668,231	11,363,297
Cost of goods sold	3,182,997	2,861,679
Gross profit	9,485,234	8,501,618
Operating expenses
Salaries and related expenses	4,208,275	3,679,471
Administrative and general	2,267,421	2,017,330
Delivery	1,090,900	975,805
Advertising and promotions	259,194	252,540
Depreciation and amortization	577,267	514,170
Total operating expenses	8,403,057	7,439,316
Income from operations	1,082,177	1,062,302
Other income (expense)
Interest income	1,508	2,042
Interest expense	(215,395)	(239,826)
Total other expense	(213,887)	(237,784)
Income before income taxes	868,290	824,518
Income tax expense
Current	(224,271)	(268,375)
Deferred	(73,833)	(51,676)
Total income tax expense	(298,104)	(320,051)
Net income available to common shareholders	$ 570,186	$ 504,467
Basic common shares outstanding	6,036,091	6,036,091
Basic income per common share	$ 0.09	$ 0.08
Diluted weighted average common shares outstanding	6,038,738	6,051,043
Diluted income per common share	$ 0.09	$ 0.08

Statements of Cash Flows - USD ($)	12 Months Ended
Statements of Cash Flows - USD ($)	Mar. 31, 2015	Mar. 31, 2014
Cash flows from operating activities
Net income	$ 570,186	$ 504,467
Adjustments to reconcile net loss to net cash provided by operating activities
Depreciation and amortization	577,267	514,170
Deferred income taxes	73,833	51,676
Changes in assets and liabilities
Accounts receivable	(322,410)	(314,133)
Inventories	(72,134)	42,141
Prepaid expenses and other	38,781	12,883
Accounts payable	(92,851)	37,052
Accrued expenses	37,579	92,010
Income taxes payable	196,271	(66,125)
Customer deposits	39,448	2,265
Net cash provided by operating activities	1,045,970	876,406
Cash flows from investing activities
Purchases of property and equipment	(369,228)	(471,289)
Net cash used in investing activities	(369,228)	(471,289)
Cash flows from financing activities
Payments on long-term debt and capital leases	(300,546)	(230,123)
Borrowings on long-term obligations	0	18,919
Net cash used in financing activities	(300,546)	(211,204)
Net increase in cash	376,196	193,913
Cash - beginning of year	674,459	480,546
Cash - end of year	$ 1,050,655	$ 674,459

Balance Sheets - USD ($)	Mar. 31, 2015	Mar. 31, 2014
Assets
Cash	$ 1,050,655	$ 674,459
Accounts receivable - trade, net	1,643,740	1,321,330
Inventories	450,041	377,907
Income tax receivable	0	57,358
Prepaid expenses and other	56,332	26,158
Deferred tax asset	44,470	29,648
Total current assets	3,245,238	2,486,860
Non-current assets
Property, plant and equipment, net	3,732,498	3,822,386
Investments	361,196	361,196
Water rights, net	71,675	71,675
Deposits	20,384	92,204
Other, net	109,545	125,482
Total non-current assets	4,295,298	4,472,943
Total assets	7,540,536	6,959,803
Liabilities and Stockholders' Equity
Accounts payable	359,643	452,494
Accrued expenses	398,605	361,026
Income taxes payable	138,914	0
Customer deposits	146,639	107,191
Current portion of capital lease obligations	91,860	82,508
Current portion of long-term debt	188,654	189,042
Total current liabilities	1,324,315	1,192,261
Non-current liabilities
Deferred tax liability	147,805	59,151
Capital lease obligations, less current portion	68,771	73,462
Long term debt, less current portion	3,719,369	3,924,839
Total non-current liabilities	3,935,945	4,057,452
Total liabilities	$ 5,260,260	$ 5,249,713
Commitments and contingencies
Stockholders' equity
Preferred stock, par value $.001 per share;10,000,000 shares authorized; 0 shares issued and outstanding	$ 0	$ 0
Common stock, par value $.001 per share; 50,000,000 shares authorized; 6,036,091 issued and outstanding	6,036	6,036
Additional paid-in capital	1,693,738	1,693,738
Retained Earnings	580,502	10,316
Total stockholders' equity	2,280,276	1,710,090
Total liabilities and stockholders' equity	$ 7,540,536	$ 6,959,803