Consolidated Statements of Cash Flows - USD ($)
|
12 Months Ended |
Mar. 31, 2022 |
Mar. 31, 2021 |
| Cash flows from operating activities: |
|
|
| Net (loss) |
$ (1,384,263)
|
$ (598,276)
|
| Adjustments to reconcile net loss to net cash (used in) operating activities: |
|
|
| Depreciation and amortization |
107,253
|
149,535
|
| Write-off of inventories |
34,406
|
121,999
|
| Stock based compensation |
0
|
17,603
|
| Bad debt |
625,000
|
75,000
|
| Deferred taxes |
(956,000)
|
62,000
|
| Non-cash interest expense |
30,194
|
33,768
|
| Forgiveness of Paycheck Protection Program loan |
693,817
|
0
|
| Warrant liability |
182,161
|
0
|
| Changes in operating assets and liabilities balances: |
|
|
| Accounts receivable |
(189,863)
|
(257,641)
|
| Inventories |
(67,344)
|
(56,151)
|
| Prepaid expenses and other current assets |
(10,702)
|
(23,515)
|
| Accounts payable |
(34,751)
|
(1,170)
|
| Customer deposits |
(30,019)
|
(61,109)
|
| Accrued expenses and other current liabilities |
2,669
|
(5,805)
|
| Payments of operating lease liability |
(101,875)
|
(101,875)
|
| Net cash (used in) operating activities |
(574,951)
|
(769,637)
|
| Cash flows provided by (used in) financing activities: |
|
|
| Due to shareholder |
(39,158)
|
(10,624)
|
| Proceeds from line of credit |
308,000
|
241,413
|
| Repayments of line of credit |
(199,653)
|
(45,000)
|
| Proceeds from PPP loan |
0
|
713,542
|
| Repayments on PPP loan |
(2,690)
|
0
|
| Repayments on capital lease payable |
0
|
(21,458)
|
| Net cash provided by financing activities |
66,499
|
877,873
|
| Net increase (decrease) in cash and cash equivalents |
(508,452)
|
108,236
|
| Cash and cash equivalents - beginning of period |
1,546,950
|
1,438,714
|
| Cash and cash equivalents - end of period |
1,038,498
|
1,546,950
|
| Cash paid for: |
|
|
| Interest |
$ 15,597
|
$ 5,966
|