Condensed Consolidated Statements of Cash Flows - USD ($)
|
12 Months Ended |
Mar. 31, 2020 |
Mar. 31, 2019 |
| CASH FLOWS FROM OPERATING ACTIVITIES |
|
|
| Net loss |
$ (5,320,873)
|
$ (2,539,498)
|
| Adjustments to reconcile net loss to net cash used in operating activities: |
|
|
| Stock-based compensation expense |
801,244
|
532,108
|
| Depreciation and amortization |
35,431
|
14,468
|
| Shares for services |
0
|
19,800
|
| Increase/Decrease in Current Assets/Liabilities: |
|
|
| Prepaid expenses and other assets |
(48,391)
|
1,214
|
| Security deposits |
(92,500)
|
0
|
| Accounts payable and accrued expenses |
530,250
|
163,974
|
| Net cash used in operating activities |
(4,094,839)
|
(1,807,934)
|
| CASH FLOWS FROM INVESTING ACTIVITIES |
|
|
| Purchase of property, plant and equipment |
(260,789)
|
(77,124)
|
| Net cash used in investing activities |
(260,789)
|
(77,124)
|
| Cash Flows from Financing Activities |
|
|
| Proceeds from private placement |
923,994
|
4,142,666
|
| Repayment to related party |
0
|
(516)
|
| Net cash provided by financing activities |
923,994
|
4,142,150
|
| Net increase in cash and cash equivalents |
(3,431,634)
|
2,257,092
|
| Cash and cash equivalents, at the beginning of the period |
6,553,768
|
4,296,676
|
| Cash and cash equivalents, at the end of the period |
3,122,134
|
6,553,768
|
| SUPPLEMENTAL DISCLOSURES: |
|
|
| Cash paid during the year for income tax |
$ 1,600
|
$ 1,589
|