CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
|
12 Months Ended |
Mar. 31, 2016 |
Mar. 31, 2015 |
| Net Cash Provided by (Used in) Operating Activities |
|
|
| Net (loss) |
$ (1,539,637)
|
$ (1,319,840)
|
| Adjustments to reconcile net loss to net cash used in operating activities: |
|
|
| Depreciation and Amortization |
17,404
|
7,556
|
| Changes in assets and liabilities: |
|
|
| Prepaid expenses and other receivables |
224,392
|
(407,805)
|
| Prepayment to related party for clinical trials |
249,459
|
0
|
| Accounts payable |
(31,279)
|
117,226
|
| Accrued expenses |
(129,704)
|
170,000
|
| Net cash (used in) provided by in operating activities |
$ (1,209,365)
|
(1,432,863)
|
| Cash Flows from Investing Activities: |
|
|
| Decrease in restricted cash |
|
85,462
|
| Purchase of intangible assets |
$ (78,197)
|
(76,745)
|
| Purchase of property and equipment |
(9,367)
|
(15,457)
|
| Net cash Provided by used in investing Activities |
(87,564)
|
(6,740)
|
| Cash Flows From Financing Activities: |
|
|
| Net proceeds from issuance of common stock |
10,000,000
|
0
|
| Net advances from related party |
299,434
|
0
|
| Net cash provided by financing activities |
10,299,434
|
0
|
| Net increase/(decrease) in cash |
9,002,505
|
(1,439,603)
|
| Effect of exchange rate changes on cash |
46,711
|
(78,789)
|
| Cash at beginning of period |
354,749
|
1,873,141
|
| Cash at end of period |
$ 9,403,965
|
$ 354,749
|