CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
|
12 Months Ended |
Mar. 31, 2021 |
Mar. 31, 2020 |
| Cash flows from operating activities: |
|
|
| Net loss |
$ (958,767)
|
$ (4,004,153)
|
| Adjustments to reconcile net loss to net cash used in operating activities: |
|
|
| Stock based compensation |
210,440
|
927,300
|
| Stock based compensation- related parties |
575,412
|
176,422
|
| Change in fair value of derivative liabilities |
(646,705)
|
470,216
|
| Debt discount |
67,250
|
61,185
|
| Financing cost |
19,412
|
(12,500)
|
| Gain on debt forgiveness |
(151,308)
|
0
|
| Changes in operating assets and liabilities: |
|
|
| Accounts receivable |
(750,000)
|
0
|
| Accounts payable and accrued expenses |
230,401
|
327,028
|
| Due to related parties |
417,081
|
1,488,927
|
| Net cash used in operating activities |
(986,784)
|
(554,325)
|
| Cash flows from financing activities: |
|
|
| Proceeds from the sale of common stock |
0
|
115,000
|
| Proceeds from convertible note |
295,000
|
150,000
|
| Proceeds from notes payable |
50,000
|
50,000
|
| Proceeds from the sale of preferred shares and warrants |
$ 640,000
|
$ 110,000
|
| Common stock issued for warrants exercised |
|
1,071
|
| Net cash provided by financing activities |
$ 985,000
|
$ 426,071
|
| Net increase (decrease) in cash |
(1,784)
|
(128,254)
|
| Cash - beginning of year |
3,218
|
131,472
|
| Cash - end of year |
1,435
|
3,218
|
| SUPPLEMENT DISCLOSURES: |
|
|
| Interest paid |
0
|
0
|
| Income taxes paid |
0
|
0
|
| NON MONETARY TRANSACTIONS |
|
|
| Common stock issued for payables - related parties |
$ 1,577,471
|
$ 282,000
|
| Common stock issued for retiring preferred shares |
14,275
|
757
|
| Preferred shares issued for notes payable |
$ 100,000
|
$ 0
|
| Common stock issued for convertible debt |
199,567
|
|
| Common stock issued for accounts payable |
$ 44,801
|
$ 0
|