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Nemaura Medical Inc.
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0"><b>NOTE 1 – ORGANIZATION, PRINCIPAL ACTIVITIES AND MANAGEMENT’S
PLANS</b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0; text-align: justify">Nemaura Medical Inc. (“Nemaura”
or the “Company”), through its operating subsidiaries, performs medical device research and manufacturing of a continuous
glucose monitoring system (“CGM”), named sugarBEAT. The sugarBEAT device is a non-invasive, wireless device for use
by persons with Type I and Type II diabetes, and may also be used to screen pre-diabetic patients. The sugarBEAT device extracts
analytes, such as glucose, to the surface of the skin in a non-invasive manner where it is measured using unique sensors and interpreted
using a unique algorithm.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0; text-align: justify">Nemaura is a Nevada holding company organized
in 2013. Nemaura owns one hundred percent (100%) of Region Green Limited, a British Virgin Islands corporation formed (“RGL”)
on December 12, 2013.  Region Green Limited owns one hundred percent (100%) of the stock in Dermal Diagnostic (Holdings) Limited,
an England and Wales corporation (“DDHL”) formed on December 11, 2013, which in turn owns one hundred percent (100%)
of Dermal Diagnostics Limited, an England and Wales corporation formed on January 20, 2009 (“DDL”), and one hundred
percent (100%) of Trial Clinic Limited, an England and Wales corporation formed on January 12, 2011 (“TCL”).</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0; text-align: justify">DDL is a diagnostic medical device company
headquartered in Loughborough, Leicestershire, England, and is engaged in the discovery, development and commercialization of diagnostic
medical devices. The Company’s initial focus has been on the development of the sugarBEAT device, which consists of a disposable
patch containing a sensor, and a non-disposable miniature electronic watch with a re-chargeable power source, which is designed
to enable trending or tracking of blood glucose levels. All the Company’s operations and assets are located in England.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0; text-align: justify">The following diagram illustrates Nemaura’s
corporate and shareholder structure as of March 31, 2018:</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0; text-align: justify"> </p>
<table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
<td style="padding-bottom: 2.25pt"> </td>
<td colspan="4" style="border: black 2.25pt solid; background-color: #ECE0FC">
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>Nemaura Medical Inc.</b></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>Nevada Corporation</b></p></td>
<td style="padding-bottom: 2.25pt"> </td></tr>
<tr style="vertical-align: top">
<td style="width: 26%"> </td>
<td style="width: 22%"> </td>
<td style="width: 4%"> </td>
<td style="width: 4%; border-left: black 2.25pt solid"> </td>
<td style="width: 22%"> </td>
<td style="width: 22%"> </td></tr>
<tr style="vertical-align: top">
<td style="padding-bottom: 2.25pt"> </td>
<td colspan="4" style="border: black 2.25pt solid; background-color: #ECE0FC">
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>Region Green Limited</b></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>British Virgin Islands Corporation</b></p></td>
<td style="padding-bottom: 2.25pt"> </td></tr>
<tr style="vertical-align: top">
<td> </td>
<td> </td>
<td> </td>
<td style="border-left: black 2.25pt solid"> </td>
<td> </td>
<td> </td></tr>
<tr style="vertical-align: top">
<td style="padding-bottom: 2.25pt"> </td>
<td colspan="4" style="border: black 2.25pt solid; background-color: #ECE0FC">
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>Dermal Diagnostics (Holdings) Limited</b></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>England and Wales Corporation</b></p></td>
<td style="padding-bottom: 2.25pt"> </td></tr>
<tr style="vertical-align: top">
<td> </td>
<td> </td>
<td> </td>
<td style="border-left: black 2.25pt solid"> </td>
<td> </td>
<td> </td></tr>
<tr style="vertical-align: top">
<td> </td>
<td style="border-top: black 2.25pt solid; border-left: black 2.25pt solid"> </td>
<td style="border-top: black 2.25pt solid"> </td>
<td style="border-top: black 2.25pt solid"> </td>
<td style="border-top: black 2.25pt solid; border-right: black 2.25pt solid"> </td>
<td> </td></tr>
<tr style="vertical-align: top">
<td colspan="2" style="border: black 2.25pt solid; background-color: #ECE0FC">
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>Dermal Diagnostics Limited</b></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>England and Wales Corporation</b></p></td>
<td style="padding-bottom: 2.25pt"> </td>
<td style="padding-bottom: 2.25pt"> </td>
<td colspan="2" style="border: black 2.25pt solid; background-color: #ECE0FC">
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>Trial Clinic Limited</b></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>England and Wales Corporation</b></p></td></tr>
</table>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 3pt 0; text-align: justify"></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 3pt 0; text-align: justify"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0; text-align: justify">The Company has a limited operating history,
recurring losses from operations and an accumulated deficit as of March 31, 2018.  The Company expects to continue to incur
losses from operations at least until clinical trials are completed later this year, when management expects that the product will
become available to be marketed.   Management has evaluated the expected expenses to be incurred along with its available
cash, and has determined that there is not substantial doubt as to its ability to continue as a going concern for at least
one year subsequent to the date of issuance of these financial statements. The Company has approximately $822,000 of readily
available cash on hand at March 31, 2018 and approximately $4.9 million that will become available in December 2018 (Note
3b).  Early withdrawal may generally be made for liquidity needs.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0; text-align: justify"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0; text-align: justify">Management’s strategic plans include
the following:</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0; text-align: justify"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0; text-align: justify">- continuing to advance commercialization
of the Company’s principal product, in both UK, European and other international markets;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0; text-align: justify"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0; text-align: justify">- pursuing additional capital raising opportunities;
and</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0; text-align: justify"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0; text-align: justify">- continuing to explore and execute prospective
partnering or distribution opportunities;</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 3pt 0; text-align: justify"></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 3pt 0"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 3pt 0"></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0; text-align: justify"><b>NOTE 2 – BASIS OF PRESENTATION</b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0; text-align: justify">(a)  Basis of presentation</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0; text-align: justify">The accompanying consolidated financial
statements include the accounts of the Company and the Company’s subsidiaries, DDL, TCL, DDHL and RGL. The consolidated financial
statements are prepared in accordance with accounting principles generally accepted in the United States of America, and all significant
intercompany balances and transactions have been eliminated on consolidation.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0; text-align: justify">The functional currency for the majority
of the Company’s operations is the Great Britain Pound Sterling (“GBP”), and the reporting currency is the US
Dollar.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0; text-align: justify"><b>NOTE 3 – SUMMARY OF SIGNIFICANT
ACCOUNTING POLICIES</b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0; text-align: justify">(a)  Cash and cash equivalents</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0; text-align: justify">The Company considers all highly liquid
investments purchased with original maturities of three months or less to be cash equivalents.  Cash and cash equivalents
consist primarily of cash deposits maintained in the United Kingdom. From time to time, the Company’s cash account balances
exceed amounts covered by the Financial Services Compensation Scheme. The Company has never suffered a loss due to such excess
balances.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0; text-align: justify">(b) Fixed rate cash accounts:</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0; text-align: justify">From time to time the Company invests funds
in fixed rate cash savings accounts.  These accounts, at the time of the initial investment, provide a higher interest rate
than other bank accounts, and also require the Company to maintain the funds in the accounts for a period of time, currently $4.9
million through December 2018.  Early withdrawal may generally be made for liquidity needs.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0; text-align: justify">(c) Fair value of financial instruments</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0; text-align: justify">The Company’s financial instruments
primarily consist of cash, accounts receivable, fixed rate cash accounts, and accounts payable.  As of the year-end dates,
the estimated fair values of non-related party financial instruments were not materially different from their carrying values as
presented, due to their short maturities. The fair value of amounts payable to related parties are not practicable to estimate
due to the related party nature of the underlying transactions.   </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0; text-align: justify">(d) Property and equipment</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0; text-align: justify">Property and equipment is stated at
cost and depreciated using the straight-line method over the estimated useful lives of the assets, generally ten years for
fixtures and fittings.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0; text-align: justify">(e) Intangible assets</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0; text-align: justify">Intangible assets consist of licenses
and patents associated with the sugarBEAT device and are amortized on a straight-line basis, generally over their legal lives
of up to 20 years and are reviewed for impairment. The Company evaluates its intangible assets (all have finite lives) and other
long-lived assets for impairment whenever events or circumstances indicate that they may not be recoverable, or at least annually.
Recoverability of finite and other long-lived assets is measured by comparing the carrying amount of an asset group to the future
undiscounted net cash flows expected to be generated by that asset group. The Company groups assets for purposes of such review
at the lowest level for which identifiable cash flows of the asset group are largely independent of the cash flows of the other
groups of assets and liabilities. The amount of impairment to be recognized for finite and other long-lived assets is calculated
as the difference between the carrying value and the fair value of the asset group, generally measured by discounting estimated
future cash flows. There were no impairment indicators present during the years ended March 31, 2018, 2017 or 2016.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0; text-align: justify">(f) Revenue Recognition</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0; text-align: justify">Revenue is recognized when the four basic
criteria of revenue recognition are met:  (1) a contractual agreement exists; (2) transfer of rights has been completed; (3)
the fee is fixed or determinable; and (4) collectability is reasonably assured.  </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0; text-align: justify">The Company may enter into product development
and other agreements and with collaborative partners. The terms of the agreements may include non-refundable signing and licensing
fees, milestone payments and royalties on any product sales derived from collaborations.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0; text-align: justify">The Company recognizes up front license
payments as revenue upon delivery of the license only if the license has stand alone value to the customer. However, where further
performance criteria must be met, revenue is deferred and recognized on a straight line basis over the period the Company is expected
to complete its performance obligations (note 4).</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0; text-align: justify">Royalty revenue will be recognized upon
the sale of the related products provided the Company has no remaining performance obligations under the agreement.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0; text-align: justify">(g) Research and development expenses</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0; text-align: justify">The Company charges research and development
expenses to operations as incurred. Research and development expenses primarily consist of salaries and related expenses for personnel
and outside contractor and consulting services. Other research and development expenses include the costs of materials and supplies
used in research and development, prototype manufacturing, clinical studies, related information technology and an allocation of
facilities costs.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0; text-align: justify">(h) Income taxes</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0; text-align: justify">Income taxes are accounted for under the
asset and liability method. Deferred income tax assets and liabilities are recognized for the future tax consequences attributable
to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases,
and operating loss carry forwards. Deferred income tax assets and liabilities are measured using enacted tax rates expected to
apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on
deferred income tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment
date. A valuation allowance is provided to reduce the carrying amount of deferred income tax assets if it is considered more likely
than not that some portion, or all, of the deferred income tax assets will not be realized.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0; text-align: justify">The Company recognizes the effect of income
tax positions only if those positions are more likely than not of being sustained.  Recognized income tax positions are measured
at the largest amount that is greater than 50% likely of being realized. Changes in recognition or measurement are reflected in
the period in which the change in judgment occurs. The Company has elected to classify interest and penalties related to unrecognized
tax benefits as part of income tax expense in the consolidated statements of comprehensive loss. The Company does not have any
accrued interest or penalties associated with any unrecognized tax benefits, nor was any interest expense related to unrecognized
tax benefits recognized for the years ended March 31, 2018, 2017 and 2016.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0; text-align: justify">In December 2017, the US Tax Cuts and Jobs
Act (the”Act”) was signed into law.  Generally, this Act reduces corporate rates from a top rate of 35% to a top
rate of 21%, effective January 1, 2018.  As the Company’s US operations are minimal, and all deferred tax assets are
fully allowed for, there is no significant impact to the Company as of and for the three and twelve month periods ended March 31,
2018.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0">(i) Earnings per share</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0; text-align: justify">Basic earnings per share is computed
by dividing income available to common stockholders by the weighted-average number of common shares outstanding during the
period. There were no potentially dilutive securities as of March 31, 2018, 2017 and 2016. For the years ended March 31,
2018, 2017 and 2016, warrants to purchase 10 million shares of common stock and preferred stock convertible to 137,324,000
shares of common stock were anti-dilutive and were excluded from the calculation of diluted loss per share.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0; text-align: justify">(j) Use of estimates</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0; text-align: justify">The preparation of financial statements
in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions
that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the
financial statements and the reported amounts of revenues and expenses during the year. Actual results may differ from those estimates.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0; text-align: justify">(k) Foreign currency translation</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0; text-align: justify">The functional currency of the Company
is the Great Britain Pound Sterling (“GBP”).  The reporting currency is the United States dollar (US$).  Stockholders’
equity is translated into United States dollars from GBP at historical exchange rates.  Assets and liabilities are translated
at the exchange rates as of balance sheet date. Income and expenditures are translated at the average exchange rates prevailing
during the reporting period. The translation rates are as follows for each year end to March 31:</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0"> </p>
<table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%">
<tr>
<td> </td>
<td> </td>
<td> </td>
<td style="vertical-align: top"> </td></tr>
<tr>
<td style="vertical-align: top"> </td>
<td style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 10pt"><b>   2018</b></font></td>
<td style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 10pt"><b>2017</b></font></td>
<td style="vertical-align: top; border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 10pt"><b>2016</b></font></td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top"><font style="font-size: 10pt">Year end GBP : US$ exchange rate</font></td>
<td style="text-align: center"><font style="font-size: 10pt">1:1.4033</font></td>
<td style="text-align: center"><font style="font-size: 10pt">1:1.2453</font></td>
<td style="vertical-align: top; text-align: center"><font style="font-size: 10pt">1:1.4318</font></td></tr>
<tr style="background-color: white">
<td style="vertical-align: top"><font style="font-size: 10pt">Average period/yearly GBP : US$ exchange rate           </font></td>
<td style="text-align: center"><font style="font-size: 10pt">1:1.3305</font></td>
<td style="text-align: center"><font style="font-size: 10pt">1:1.3146</font></td>
<td style="vertical-align: top; text-align: center"><font style="font-size: 10pt">1:1.5224</font></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0; text-align: justify">Adjustments resulting from translating
the financial statements into the United States dollar are recorded as a separate component of accumulated other comprehensive
loss in stockholders’ equity.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0; text-align: justify"><br />
 </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0; text-align: justify">(l) Recent accounting pronouncements</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0; text-align: justify">The Company continually assesses any new
accounting pronouncements to determine their applicability. When it is determined that a new accounting pronouncement affects the
Company's financial reporting, the Company undertakes a study to determine the consequences of the change to its consolidated financial
statements and assures that there are proper controls in place to ascertain that the Company's consolidated financial statements
properly reflect the change.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0; text-align: justify">In May 2014, the Financial Accounting Standards
Board ("FASB") issued Accounting Standards Updates ("ASU") No. 2014-09, Revenue from Contracts with Customers.
ASU 2014-09 has been modified multiple times since its initial release. This ASU outlines a single comprehensive model for entities
to use in accounting for revenue arising from contracts with customers and will replace most existing revenue recognition guidance
in U.S. GAAP when it becomes effective. ASU 2014-09, as amended, becomes effective for annual reporting periods beginning after
December 15, 2017. Early adoption is permitted. As an Emerging Growth Company, the Company is allowed to adopt new, or updated,
accounting standards using the same time frame that applies to private companies.  The Company will adopt this standard on
April 1, 2019.  Management is currently evaluating the impact of adoption of this ASU on the Company’s consolidated
financial statements.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0; text-align: justify">In March 2016, the FASB issued ASU No.
2016-02, Leases. The main difference between the provisions of ASU No. 2016-02 and previous U.S. GAAP is the recognition of right-of-use
assets and lease liabilities by lessees for those leases classified as operating leases under previous U.S. GAAP. ASU No. 2016-
02 retains a distinction between finance leases and operating leases, and the recognition, measurement, and presentation of expenses
and cash flows arising from a lease by a lessee have not significantly changed from previous U.S. GAAP. For leases with a term
of 12 months or less, a lessee is permitted to make an accounting policy election by class of underlying asset not to recognize
right-of-use assets and lease liabilities. The accounting applied by a lessor is largely unchanged from that applied under previous
U.S. GAAP. In transition, lessees and lessors are required to recognize and measure leases at the beginning of the earliest period
presented using a modified retrospective approach. This ASU is effective for public business entities in fiscal years, and interim
periods within those fiscal years, beginning after December 15, 2018. Early adoption is permitted as of the beginning of any interim
or annual reporting period.  As an Emerging Growth Company, the Company is allowed to adopt new, or updated, accounting standards
using the same time frame that applies to private companies.  The Company will adopt this standard on April 1, 2020.  
Management is currently evaluating the impact of adoption of this ASU on the Company’s consolidated financial statements.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0; text-align: justify">In August 2016, the FASB issued ASU No.
2016-15, Statement of Cash Flows - Classification of Certain Cash Receipts and Cash Payments. ASU No. 2016-15 is intended to reduce
diversity in how certain cash receipts and cash payments are presented in the statement of cash flows. The new guidance clarifies
the classification of cash activity related to debt prepayment or debt extinguishment costs, settlement of zero-coupon debt instruments,
contingent consideration payments made after a business combination, proceeds from the settlement of insurance claims, proceeds
from the settlement of corporate and bank-owned life insurance policies, distributions received from equity-method investments,
and beneficial interests in securitization transactions. The guidance also describes a predominance principle pursuant to which
cash flows with aspects of more than one class that cannot be separated should be classified based on the activity that is likely
to be the predominant source or use of cash flow. This ASU is effective for public entities for annual and interim periods beginning
after December 15, 2017. Early adoption is permitted as of the beginning of any interim or annual reporting period. The Company
is currently evaluating the impact this standard will have on its financial statements and related disclosures, but does not expect
it to have a material effect on the Company's consolidated financial statements and related disclosures.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0; text-align: justify"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0; text-align: justify">(m) Risks and Uncertainties:</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0; text-align: justify">The Company is in the development stage
of one primary product that it expects to introduce to the UK market after completion of clinical trials and CE mark approval (European
Union approval of the product). The Company has entered into sales and marketing agreements for the product but has not yet entered
into manufacturing agreements.  These matters raise uncertainties as regulatory acceptance of the Company’s primary
product development efforts and if acceptance is attained, the cost structure to produce the product.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0; text-align: justify">(n) Preferred shares</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0; text-align: justify">On October 5, 2017, the Company entered
into common stock exchange agreements with each of its three largest shareholders, to exchange, in the aggregate, 137,324,000 shares
of the Company’s common stock for 137,324 shares of Series A Convertible Preferred Stock.  Each share of Series A Convertible
Preferred Stock is convertible into 1,000 shares of the Company’s common stock, automatically upon the occurrence of all
of certain triggering events, as set forth in the Certificate of Designation, namely (a) the sugarBEAT® device to be commercialized
has CE regulatory approval; (b) retail sales having commenced; and (c) retail sales exceeding USD$5 million, inclusive of advanced
sales or voluntarily by the holder after February 7, 2018, if these triggering events have not occurred.  Each holder of issued
and outstanding Series A Convertible Preferred Stock is entitled to a number of votes equal to the number of shares of common stock
into which the Series A Convertible Preferred Stock is convertible. Holders of Series A Convertible Preferred Stock are entitled
to vote on any and all matters presented to stockholders of the Company, except as provided by law.  The Series A Convertible
Preferred Stock has no preference to the common stock as to dividends or distributions of assets upon liquidation or winding up
of the Company (which has been agreed to by the holders of the Series A Convertible Preferred Stock).  The Company determined
that the fair value of the preferred shares issued for the common shares was equivalent to the fair value of the common shares
exchanged.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0; text-align: justify">On November 6, 2017, the transaction was
consummated and 137,324,000 shares of common stock were cancelled.  As a result, the Company has 67,676,000 shares of common
stock issued and outstanding.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0; text-align: justify">(o) Subsequent events</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0; text-align: justify">We have signed a full commercial agreement
with Dallas Burston Ethitronix Limited in May 2018 for all other European territories as part of an equal joint venture agreement.
The joint venture intends to seek sub-license rights opportunities to one or more leading companies in the diabetes
monitoring space, to leverage their network, infrastructure and resources.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0; text-align: justify">On June 5, 2018, the three holders of our
Series A Convertible Preferred Stock (the “Series A Preferred”) each delivered notices of conversion to voluntarily
convert their Series A Preferred, in the aggregate amount of 137,324 shares, into 137,324,000 shares of our common stock. 
The holders had the right to voluntarily convert each share of Series A Preferred into 1,000 shares of common stock of the Company. 
As a result of the conversion, we currently have 205,000,000 shares of common stock outstanding.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0"><b>NOTE 4 – LICENSING AGREEMENT</b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0; text-align: justify">In March 2014, the Company entered into
an Exclusive Marketing Rights Agreement with an unrelated third party, that granted to the third party the exclusive right to market
and promote the sugarBEAT device and related patches under its own brand in the United Kingdom and the Republic of Ireland, the
Channel Islands and the Isle of Man. The Company received a non-refundable, up front cash payment of GBP 1,000,000 (approximately
$1.403 million and $1.245 million as of March 31, 2018 and March 31, 2017 respectively) which is wholly non-refundable, upon
signing the agreement.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0; text-align: justify">As the Company has continuing performance
obligations under the agreement, the up-front fees received from this agreement have been deferred and will be recorded as income
over the term of the commercial licensing agreement beginning from the date of clinical evaluation approval. As the Company expects
commercialization of the sugarBEAT device to occur in the year ending March 31, 2019, approximately $70,000 of the deferred revenue
has been classified as a current liability.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0; text-align: justify">In April 2014, a Letter of Intent was signed
with the third party which specified a 10 year term and in November 2015, a Licence, Supply and Distribution agreement with an
initial 5 year term was executed. The Company grants the exclusive right to market and promote its product in the United Kingdom,
and purchase the product at specified prices.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0; text-align: justify"><b>NOTE 5– PROPERTY AND EQUIPMENT</b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0; text-align: justify">As of March 31, 2018, and March 31, 2017
property and equipment is summarized as follows.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0"> </p>
<table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%">
<tr>
<td style="vertical-align: top; padding-bottom: 1.5pt"> </td>
<td style="vertical-align: bottom; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="vertical-align: top; border-bottom: black 1.5pt solid">
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>March 31, 2018</b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>($)</b></p></td>
<td nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 1.5pt"> </td>
<td style="vertical-align: bottom; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="vertical-align: top; border-bottom: black 1.5pt solid">
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>March 31, 2017</b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>($)</b></p></td>
<td nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 1.5pt"> </td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; width: 72%"><font style="font-size: 10pt">Fixtures and fittings</font></td>
<td style="vertical-align: bottom; width: 1%"> </td>
<td style="vertical-align: bottom; width: 1%"> </td>
<td style="vertical-align: bottom; width: 11%; text-align: right"><font style="font-size: 10pt">18,213</font></td>
<td nowrap="nowrap" style="vertical-align: bottom; width: 1%"> </td>
<td style="vertical-align: bottom; width: 1%"> </td>
<td style="vertical-align: bottom; width: 1%"> </td>
<td style="vertical-align: bottom; width: 11%; text-align: right"><font style="font-size: 10pt">16,163</font></td>
<td nowrap="nowrap" style="vertical-align: bottom; width: 1%"> </td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; padding-bottom: 1.5pt"><font style="font-size: 10pt">Less accumulated depreciation</font></td>
<td style="vertical-align: bottom; padding-bottom: 1.5pt"> </td>
<td style="vertical-align: bottom; border-bottom: black 1.5pt solid"> </td>
<td style="vertical-align: bottom; border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 10pt">(12,443</font></td>
<td nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 1.5pt"><font style="font-size: 10pt">)</font></td>
<td style="vertical-align: bottom; padding-bottom: 1.5pt"> </td>
<td style="vertical-align: bottom; border-bottom: black 1.5pt solid"> </td>
<td style="vertical-align: bottom; border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 10pt">(7,002</font></td>
<td nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 1.5pt"><font style="font-size: 10pt">)</font></td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; padding-bottom: 3pt"> </td>
<td style="vertical-align: bottom; padding-bottom: 3pt"> </td>
<td style="vertical-align: bottom; border-bottom: black 2.25pt double"> </td>
<td style="vertical-align: bottom; border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 10pt">5,770</font></td>
<td nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 3pt"> </td>
<td style="vertical-align: bottom; padding-bottom: 3pt"> </td>
<td style="vertical-align: bottom; border-bottom: black 2.25pt double"> </td>
<td style="vertical-align: bottom; border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 10pt">9,161</font></td>
<td nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 3pt"> </td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0"><b>NOTE 6 - INTANGIBLE ASSETS</b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0">As of March 31, 2018, and March 31, 2017 intangible assets are
summarized as follows:</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0"> </p>
<table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%">
<tr>
<td> </td>
<td style="vertical-align: bottom"> </td>
<td colspan="2"> </td>
<td nowrap="nowrap" style="vertical-align: bottom"> </td>
<td style="vertical-align: bottom"> </td>
<td colspan="2"> </td>
<td nowrap="nowrap" style="vertical-align: bottom"> </td></tr>
<tr>
<td style="vertical-align: top; padding-bottom: 1.5pt"> </td>
<td style="vertical-align: bottom; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="vertical-align: top; border-bottom: black 1.5pt solid">
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>March 31, 2018</b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>($)</b></p></td>
<td nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 1.5pt"> </td>
<td style="vertical-align: bottom; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="vertical-align: top; border-bottom: black 1.5pt solid">
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>March 31, 2017</b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>($)</b></p></td>
<td nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 1.5pt"> </td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; width: 72%"><font style="font-size: 10pt">Patents and licenses</font></td>
<td style="vertical-align: bottom; width: 1%"> </td>
<td style="vertical-align: bottom; width: 1%"> </td>
<td style="vertical-align: bottom; width: 11%; text-align: right"><font style="font-size: 10pt">323,987</font></td>
<td nowrap="nowrap" style="vertical-align: bottom; width: 1%"> </td>
<td style="vertical-align: bottom; width: 1%"> </td>
<td style="vertical-align: bottom; width: 1%"> </td>
<td style="vertical-align: bottom; width: 11%; text-align: right"><font style="font-size: 10pt">244,457</font></td>
<td nowrap="nowrap" style="vertical-align: bottom; width: 1%"> </td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; padding-bottom: 1.5pt"><font style="font-size: 10pt">Less accumulated amortization</font></td>
<td style="vertical-align: bottom; padding-bottom: 1.5pt"> </td>
<td style="vertical-align: bottom; border-bottom: black 1.5pt solid"> </td>
<td style="vertical-align: bottom; border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 10pt">(72,888</font></td>
<td nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 1.5pt"><font style="font-size: 10pt">)</font></td>
<td style="vertical-align: bottom; padding-bottom: 1.5pt"> </td>
<td style="vertical-align: bottom; border-bottom: black 1.5pt solid"> </td>
<td style="vertical-align: bottom; border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 10pt">(40,657</font></td>
<td nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 1.5pt"><font style="font-size: 10pt">)</font></td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; padding-bottom: 3pt"> </td>
<td style="vertical-align: bottom; padding-bottom: 3pt"> </td>
<td style="vertical-align: bottom; border-bottom: black 2.25pt double"> </td>
<td style="vertical-align: bottom; border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 10pt">251,099</font></td>
<td nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 3pt"> </td>
<td style="vertical-align: bottom; padding-bottom: 3pt"> </td>
<td style="vertical-align: bottom; border-bottom: black 2.25pt double"> </td>
<td style="vertical-align: bottom; border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 10pt">203,800</font></td>
<td nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 3pt"> </td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0">Estimated amortization expense is approximately $22,000 for
each of the next five years.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0"><b>NOTE 7 – RELATED PARTY TRANSACTIONS</b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0; text-align: justify">Nemaura Pharma Limited (Pharma) and NDM
Technologies Limited (NDM) are entities controlled by the Company’s majority shareholder, DFH Chowdhury.  </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0; text-align: justify">In accordance with the United States Securities
and Exchange Commission (SEC) Staff Accounting Bulletin 55, these financial statements are intended to reflect all costs associated
with the operations of DDL and TCL.  Pharma has invoiced DDL and TCL for research and development services. In addition, certain
operating expenses of DDL and TCL were incurred and paid by Pharma and NDM which have been invoiced to the Company.  Certain
costs incurred by Pharma and NDM are directly attributable to DDL and TCL and such costs were billed to the Company.  Management
believes the allocation methodologies used are reasonable.  DDL and TCL advanced Pharma certain amounts to cover a portion
of the costs.  </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0; text-align: justify">Following is a summary of activity between
the Company and Pharma and NDM for the years ended March 31, 2018, 2017 and 2016. These amounts are unsecured, interest free, and
payable on demand.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0"> </p>
<table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%">
<tr>
<td> </td>
<td style="vertical-align: bottom"> </td>
<td colspan="2"> </td>
<td nowrap="nowrap" style="vertical-align: bottom"> </td>
<td style="vertical-align: bottom"> </td>
<td colspan="2"> </td>
<td nowrap="nowrap" style="vertical-align: bottom"> </td>
<td style="vertical-align: bottom"> </td>
<td colspan="2" style="vertical-align: top"> </td>
<td nowrap="nowrap" style="vertical-align: bottom"> </td></tr>
<tr>
<td style="vertical-align: bottom; padding-bottom: 1.5pt"> </td>
<td style="vertical-align: bottom; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="vertical-align: bottom; border-bottom: black 1.5pt solid">
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>Year Ended March 31,</b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>2018</b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>($)</b></p></td>
<td nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 1.5pt"> </td>
<td style="vertical-align: bottom; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="vertical-align: bottom; border-bottom: black 1.5pt solid">
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>Year Ended March 31,</b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>2017</b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>($)</b></p></td>
<td nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 1.5pt"> </td>
<td style="vertical-align: bottom; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="vertical-align: top; border-bottom: black 1.5pt solid">
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>Year Ended March 31,</b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>2016</b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>($)</b></p></td>
<td nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 1.5pt"> </td></tr>
<tr style="vertical-align: bottom; background-color: #CCEEFF">
<td style="width: 58%"><font style="font-size: 10pt">Balance due from Pharma and NDM at beginning of period</font></td>
<td style="width: 1%"> </td>
<td style="width: 1%"> </td>
<td style="width: 11%; text-align: right"><font style="font-size: 10pt">(687,609</font></td>
<td nowrap="nowrap" style="width: 1%"><font style="font-size: 10pt">)</font></td>
<td style="width: 1%"> </td>
<td style="width: 1%"> </td>
<td style="width: 11%; text-align: right"><font style="font-size: 10pt">(494,145</font></td>
<td nowrap="nowrap" style="width: 1%"><font style="font-size: 10pt">)</font></td>
<td style="width: 1%"> </td>
<td style="width: 1%"> </td>
<td style="width: 11%; text-align: right"><font style="font-size: 10pt">192,484</font></td>
<td nowrap="nowrap" style="width: 1%"> </td></tr>
<tr style="vertical-align: bottom; background-color: white">
<td><font style="font-size: 10pt">Amounts advanced to Pharma</font></td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 10pt">-</font></td>
<td nowrap="nowrap"> </td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 10pt">-</font></td>
<td nowrap="nowrap"> </td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 10pt">58,197</font></td>
<td nowrap="nowrap"> </td></tr>
<tr style="vertical-align: bottom; background-color: #CCEEFF">
<td><font style="font-size: 10pt">Amounts received from Pharma</font></td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 10pt">(145,214</font></td>
<td nowrap="nowrap"><font style="font-size: 10pt">)</font></td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 10pt">(2,480</font></td>
<td nowrap="nowrap"><font style="font-size: 10pt">)</font></td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 10pt">(228,361</font></td>
<td nowrap="nowrap"><font style="font-size: 10pt">)</font></td></tr>
<tr style="vertical-align: bottom; background-color: white">
<td><font style="font-size: 10pt"> Reduction in prepayments to Pharma for clinical trials</font></td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 10pt">-</font></td>
<td nowrap="nowrap"> </td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 10pt">-</font></td>
<td nowrap="nowrap"> </td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 10pt">(247,596</font></td>
<td nowrap="nowrap"><font style="font-size: 10pt">)</font></td></tr>
<tr style="vertical-align: bottom; background-color: #CCEEFF">
<td><font style="font-size: 10pt">Amounts invoiced by Pharma to DDL, NM and TCL (1)</font></td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 10pt">(842,739</font></td>
<td nowrap="nowrap"><font style="font-size: 10pt">)</font></td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 10pt">(577,481</font></td>
<td nowrap="nowrap"><font style="font-size: 10pt">)</font></td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 10pt">(331,714</font></td>
<td nowrap="nowrap"><font style="font-size: 10pt">)</font></td></tr>
<tr style="vertical-align: bottom; background-color: white">
<td><font style="font-size: 10pt">Amounts invoiced by DDL to Pharma</font></td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 10pt">-</font></td>
<td nowrap="nowrap"> </td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 10pt">15,305</font></td>
<td nowrap="nowrap"> </td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 10pt">16,307</font></td>
<td nowrap="nowrap"> </td></tr>
<tr style="vertical-align: bottom; background-color: #CCEEFF">
<td><font style="font-size: 10pt">Amounts repaid by DDL to Pharma</font></td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 10pt">1,096,767</font></td>
<td nowrap="nowrap"> </td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 10pt">249,060</font></td>
<td nowrap="nowrap"> </td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 10pt">-</font></td>
<td nowrap="nowrap"> </td></tr>
<tr style="vertical-align: bottom; background-color: white">
<td><font style="font-size: 10pt">Amounts paid by DDL on behalf of Pharma</font></td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 10pt">19,889</font></td>
<td nowrap="nowrap"> </td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 10pt">42,403</font></td>
<td nowrap="nowrap"> </td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 10pt">-</font></td>
<td nowrap="nowrap"> </td></tr>
<tr style="vertical-align: bottom; background-color: #CCEEFF">
<td><font style="font-size: 10pt">Sale of fixed and intangible assets to Pharma and NDM</font></td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 10pt">-</font></td>
<td nowrap="nowrap"> </td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 10pt">-</font></td>
<td nowrap="nowrap"> </td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 10pt">17,775</font></td>
<td nowrap="nowrap"> </td></tr>
<tr style="vertical-align: bottom; background-color: white">
<td style="padding-bottom: 1.5pt"><font style="font-size: 10pt">Foreign exchange differences</font></td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: black 1.5pt solid"> </td>
<td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 10pt">(54,912</font></td>
<td nowrap="nowrap" style="padding-bottom: 1.5pt"><font style="font-size: 10pt">)</font></td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: black 1.5pt solid"> </td>
<td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 10pt">79,729</font></td>
<td nowrap="nowrap" style="padding-bottom: 1.5pt"> </td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: black 1.5pt solid"> </td>
<td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 10pt">28,763</font></td>
<td nowrap="nowrap" style="padding-bottom: 1.5pt"> </td></tr>
<tr style="vertical-align: bottom; background-color: #CCEEFF">
<td style="padding-bottom: 3pt"><font style="font-size: 10pt">Net balance due to Pharma and NDM at end of the period</font></td>
<td style="padding-bottom: 3pt"> </td>
<td style="border-bottom: black 2.25pt double"> </td>
<td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 10pt">(613,818</font></td>
<td nowrap="nowrap" style="padding-bottom: 3pt"><font style="font-size: 10pt">)</font></td>
<td style="padding-bottom: 3pt"> </td>
<td style="border-bottom: black 2.25pt double"> </td>
<td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 10pt">(687,609</font></td>
<td nowrap="nowrap" style="padding-bottom: 3pt"><font style="font-size: 10pt">)</font></td>
<td style="padding-bottom: 3pt"> </td>
<td style="border-bottom: black 2.25pt double"> </td>
<td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 10pt">(494,145</font></td>
<td nowrap="nowrap" style="padding-bottom: 3pt"><font style="font-size: 10pt">)</font></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0"> </p>
<table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%">
<tr>
<td style="width: 1%"> </td>
<td style="vertical-align: top; width: 1%"><font style="font-size: 10pt">(1)</font></td>
<td style="vertical-align: top; width: 98%; text-align: justify"><font style="font-size: 10pt">These amounts are included primarily in research and development expenses.</font></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0; text-align: justify">The Company routinely reviews its statement
of cashflows presentation of related party transactions for financing or operating classification based on the underlying nature
of the item and intended repayment.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0; text-align: justify">Total costs charged to the Company by Pharma
and NDM were $842,739, $577,481 and $331,714 for the years 2018, 2017 and 2016 respectively.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0; text-align: justify">Subsequent to March 31, 2018, the Company
made payments to Pharma on the outstanding balances at March 31, 2018 of £279,792.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0; text-align: justify"><b>NOTE 8 – INCOME TAXES</b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0; text-align: justify">The Company and its subsidiaries file separate
income tax returns.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0"><b>The United States of America</b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0; text-align: justify">The Company is incorporated in the US,
and as a result of the new US Tax Cuts and Jobs Act, is subject to a US federal corporate income tax blended rate of 30.79% for
the year ended March 31, 2018. The federal corporate income tax rate for future years is scheduled to be 21%.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0; text-align: justify"><b>British Virgin Islands</b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0; text-align: justify">RGL is incorporated in the British Virgin
Islands (“BVI”). Under the current laws of the BVI, RGL is not subject to tax on income or capital gains. In addition,
upon payments of dividends by RGL, no BVI withholding tax is imposed. During the years ended March 31, 2018, 2017 and 2016, there
was no income or expenses in the BVI.<br />
 </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0; text-align: justify"><b>UK</b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0; text-align: justify">DDL, TCL and DDHL are all incorporated
in the United Kingdom (UK) and the applicable UK statutory income tax rate for these companies is 19%.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0; text-align: justify">For the years ended March 31, 2018, 2017
and 2016 loss before income tax expense (benefit) arose in the UK and U.S.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0"> </p>
<table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: bottom">
<td style="padding-bottom: 1.5pt"> </td>
<td style="padding-bottom: 1.5pt"> </td>
<td colspan="10" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 10pt"><b>Year ended March 31,</b></font></td>
<td nowrap="nowrap" style="padding-bottom: 1.5pt"> </td></tr>
<tr>
<td style="vertical-align: bottom; padding-bottom: 1.5pt"> </td>
<td style="vertical-align: bottom; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="vertical-align: bottom; border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 10pt"><b>2018</b></font></td>
<td nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 1.5pt"> </td>
<td style="vertical-align: bottom; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="vertical-align: bottom; border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 10pt"><b>2017</b></font></td>
<td nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 1.5pt"> </td>
<td colspan="3" style="vertical-align: top; border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 10pt"><b>2016</b></font></td>
<td nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 1.5pt"> </td></tr>
<tr style="vertical-align: bottom">
<td style="width: 58%; text-align: center"> </td>
<td style="width: 1%; text-align: center"> </td>
<td style="width: 1%; text-align: center"> </td>
<td style="width: 11%; text-align: center"><font style="font-size: 10pt">$ </font></td>
<td nowrap="nowrap" style="width: 1%; text-align: center"> </td>
<td style="width: 1%; text-align: center"> </td>
<td style="width: 1%; text-align: center"> </td>
<td style="width: 11%; text-align: center"><font style="font-size: 10pt">$ </font></td>
<td nowrap="nowrap" style="width: 1%; text-align: center"> </td>
<td style="width: 1%; text-align: center"> </td>
<td style="width: 1%; text-align: center"> </td>
<td style="width: 11%; text-align: center"><font style="font-size: 10pt">$ </font></td>
<td nowrap="nowrap" style="width: 1%; text-align: center"> </td></tr>
<tr style="vertical-align: bottom">
<td><font style="font-size: 10pt">Loss before income taxes arising in UK</font></td>
<td style="text-align: right"> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 10pt">(1,353,243</font></td>
<td nowrap="nowrap"><font style="font-size: 10pt">)</font></td>
<td style="text-align: right"> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 10pt">(1,251,870</font></td>
<td nowrap="nowrap"><font style="font-size: 10pt">)</font></td>
<td style="text-align: right"> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 10pt">(1,300,468</font></td>
<td nowrap="nowrap"><font style="font-size: 10pt">)</font></td></tr>
<tr style="vertical-align: bottom; background-color: white">
<td><font style="font-size: 10pt">Loss before income taxes arising in United States</font></td>
<td style="text-align: right"> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 10pt">(467,206</font></td>
<td nowrap="nowrap"><font style="font-size: 10pt">)</font></td>
<td style="text-align: right"> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 10pt">(299,396</font></td>
<td nowrap="nowrap"><font style="font-size: 10pt">)</font></td>
<td style="text-align: right"> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 10pt">(239,169</font></td>
<td nowrap="nowrap"><font style="font-size: 10pt">)</font></td></tr>
<tr style="vertical-align: bottom; background-color: #CCEEFF">
<td style="padding-bottom: 1.5pt"><font style="font-size: 10pt">Total loss before income tax</font></td>
<td style="padding-bottom: 1.5pt; text-align: right"> </td>
<td style="border-bottom: black 1.5pt solid"> </td>
<td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 10pt">(1,820,449</font></td>
<td nowrap="nowrap" style="padding-bottom: 1.5pt"><font style="font-size: 10pt">)</font></td>
<td style="padding-bottom: 1.5pt; text-align: right"> </td>
<td style="border-bottom: black 1.5pt solid"> </td>
<td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 10pt">(1,551,266</font></td>
<td nowrap="nowrap" style="padding-bottom: 1.5pt"><font style="font-size: 10pt">)</font></td>
<td style="padding-bottom: 1.5pt; text-align: right"> </td>
<td style="border-bottom: black 1.5pt solid"> </td>
<td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 10pt">(1,539,637</font></td>
<td nowrap="nowrap" style="padding-bottom: 1.5pt"><font style="font-size: 10pt">)</font></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0">Reconciliation of our effective tax rate to loss to the statutory
U.S federal tax rate is as follows:</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0"> </p>
<table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: bottom">
<td style="padding-bottom: 1.5pt"> </td>
<td style="padding-bottom: 1.5pt"> </td>
<td colspan="23" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 10pt"><b>Year ended March 31,</b></font></td></tr>
<tr style="vertical-align: bottom">
<td style="padding-bottom: 1.5pt; text-align: center"> </td>
<td style="padding-bottom: 1.5pt; text-align: center"> </td>
<td colspan="6" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 10pt">  <b>2018   </b></font></td>
<td nowrap="nowrap" style="padding-bottom: 1.5pt; text-align: center"> </td>
<td style="padding-bottom: 1.5pt; text-align: center"> </td>
<td style="border-bottom: black 1.5pt solid; text-align: center"> </td>
<td colspan="5" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 10pt"> <b>2017  </b></font></td>
<td nowrap="nowrap" style="padding-bottom: 1.5pt; text-align: center"> </td>
<td style="padding-bottom: 1.5pt; text-align: center"> </td>
<td style="border-bottom: black 1.5pt solid; text-align: center"> </td>
<td colspan="5" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 10pt"><b>2016   </b></font></td>
<td nowrap="nowrap" style="padding-bottom: 1.5pt; text-align: center"> </td></tr>
<tr>
<td style="vertical-align: bottom; padding-bottom: 1.5pt"> </td>
<td style="vertical-align: bottom; padding-bottom: 1.5pt; text-align: right"> </td>
<td style="vertical-align: bottom; border-bottom: black 1.5pt solid"> </td>
<td style="vertical-align: bottom; border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 10pt">$</font></td>
<td nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 1.5pt"> </td>
<td style="vertical-align: bottom; padding-bottom: 1.5pt; text-align: right"> </td>
<td colspan="2" style="vertical-align: bottom; border-bottom: black 1.5pt solid; text-align: right"> </td>
<td nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 1.5pt"> </td>
<td style="vertical-align: bottom; padding-bottom: 1.5pt; text-align: right"> </td>
<td style="vertical-align: bottom; border-bottom: black 1.5pt solid"> </td>
<td style="vertical-align: bottom; border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 10pt">$ </font></td>
<td nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 1.5pt"> </td>
<td colspan="3" style="vertical-align: bottom; border-bottom: black 1.5pt solid"> </td>
<td nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 1.5pt"> </td>
<td style="vertical-align: bottom; padding-bottom: 1.5pt; text-align: right"> </td>
<td style="vertical-align: bottom; border-bottom: black 1.5pt solid"> </td>
<td style="vertical-align: bottom; border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 10pt">$ </font></td>
<td nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 1.5pt"> </td>
<td colspan="3" style="vertical-align: top; border-bottom: black 1.5pt solid"> </td>
<td nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 1.5pt"> </td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: bottom"><font style="font-size: 10pt">Loss before income taxes</font></td>
<td style="vertical-align: bottom; text-align: right"> </td>
<td style="vertical-align: bottom"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">(1,820,449</font></td>
<td nowrap="nowrap" style="vertical-align: bottom"><font style="font-size: 10pt">)</font></td>
<td style="vertical-align: bottom; text-align: right"> </td>
<td colspan="2" style="vertical-align: bottom; text-align: right"> </td>
<td nowrap="nowrap" style="vertical-align: bottom"> </td>
<td style="vertical-align: bottom; text-align: right"> </td>
<td style="vertical-align: bottom"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">(1,551,266</font></td>
<td nowrap="nowrap" style="vertical-align: bottom"><font style="font-size: 10pt">)</font></td>
<td colspan="3" style="vertical-align: bottom"> </td>
<td nowrap="nowrap" style="vertical-align: bottom"> </td>
<td style="vertical-align: bottom; text-align: right"> </td>
<td style="vertical-align: bottom"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">(1,539,637</font></td>
<td nowrap="nowrap" style="vertical-align: bottom"><font style="font-size: 10pt">)</font></td>
<td colspan="3" style="vertical-align: top"> </td>
<td nowrap="nowrap" style="vertical-align: bottom"> </td></tr>
<tr style="vertical-align: bottom; background-color: white">
<td style="width: 34%"><font style="font-size: 10pt">Expected tax benefit</font></td>
<td style="width: 1%; text-align: right"> </td>
<td style="width: 1%"> </td>
<td style="width: 9%; text-align: right"><font style="font-size: 10pt">(561,000</font></td>
<td nowrap="nowrap" style="width: 1%"><font style="font-size: 10pt">)</font></td>
<td style="width: 1%; text-align: right"> </td>
<td style="width: 1%"> </td>
<td style="width: 7%; text-align: right"><font style="font-size: 10pt">(31</font></td>
<td nowrap="nowrap" style="width: 1%"><font style="font-size: 10pt">%)</font></td>
<td style="width: 1%; text-align: right"> </td>
<td style="width: 1%"> </td>
<td style="width: 9%; text-align: right"><font style="font-size: 10pt">(527,000</font></td>
<td nowrap="nowrap" style="width: 1%"><font style="font-size: 10pt">)</font></td>
<td style="width: 1%; text-align: right"> </td>
<td style="width: 1%"> </td>
<td style="width: 7%; text-align: right"><font style="font-size: 10pt">(34</font></td>
<td nowrap="nowrap" style="width: 1%"><font style="font-size: 10pt">%)</font></td>
<td style="width: 1%; text-align: right"> </td>
<td style="width: 1%"> </td>
<td style="width: 9%; text-align: right"><font style="font-size: 10pt">(523,000</font></td>
<td nowrap="nowrap" style="width: 1%"><font style="font-size: 10pt">)</font></td>
<td style="width: 1%; text-align: right"> </td>
<td style="width: 1%"> </td>
<td style="width: 7%; text-align: right"><font style="font-size: 10pt">(34</font></td>
<td nowrap="nowrap" style="width: 1%"><font style="font-size: 10pt">%)</font></td></tr>
<tr style="vertical-align: bottom; background-color: #CCEEFF">
<td><font style="font-size: 10pt">Foreign tax differential</font></td>
<td style="text-align: right"> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 10pt">36,000</font></td>
<td nowrap="nowrap"> </td>
<td style="text-align: right"> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 10pt">2</font></td>
<td nowrap="nowrap"><font style="font-size: 10pt">%</font></td>
<td style="text-align: right"> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 10pt">217,000</font></td>
<td nowrap="nowrap"> </td>
<td style="text-align: right"> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 10pt">14</font></td>
<td nowrap="nowrap"><font style="font-size: 10pt">%</font></td>
<td style="text-align: right"> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 10pt">216,000</font></td>
<td nowrap="nowrap"> </td>
<td style="text-align: right"> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 10pt">14</font></td>
<td nowrap="nowrap"><font style="font-size: 10pt">%</font></td></tr>
<tr style="vertical-align: bottom; background-color: white">
<td><font style="font-size: 10pt">Enhanced research and development</font></td>
<td style="text-align: right"> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 10pt">(215,000</font></td>
<td nowrap="nowrap"><font style="font-size: 10pt">)</font></td>
<td style="text-align: right"> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 10pt">(12</font></td>
<td nowrap="nowrap"><font style="font-size: 10pt">%)</font></td>
<td style="text-align: right"> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 10pt">(198,000</font></td>
<td nowrap="nowrap"><font style="font-size: 10pt">)</font></td>
<td style="text-align: right"> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 10pt">(13</font></td>
<td nowrap="nowrap"><font style="font-size: 10pt">%)</font></td>
<td style="text-align: right"> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 10pt">(177,000</font></td>
<td nowrap="nowrap"><font style="font-size: 10pt">)</font></td>
<td style="text-align: right"> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 10pt">(11</font></td>
<td nowrap="nowrap"><font style="font-size: 10pt">%)</font></td></tr>
<tr style="vertical-align: bottom; background-color: #CCEEFF">
<td><font style="font-size: 10pt">Other</font></td>
<td style="text-align: right"> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 10pt">35,000</font></td>
<td nowrap="nowrap"> </td>
<td style="text-align: right"> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 10pt">2</font></td>
<td nowrap="nowrap"><font style="font-size: 10pt">%</font></td>
<td style="text-align: right"> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 10pt">-</font></td>
<td nowrap="nowrap"> </td>
<td style="text-align: right"> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 10pt">-</font></td>
<td nowrap="nowrap"> </td>
<td style="text-align: right"> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 10pt">-</font></td>
<td nowrap="nowrap"> </td>
<td style="text-align: right"> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 10pt">-</font></td>
<td nowrap="nowrap"> </td></tr>
<tr style="vertical-align: bottom; background-color: white">
<td style="padding-bottom: 1.5pt"><font style="font-size: 10pt">Change in valuation allowance</font></td>
<td style="padding-bottom: 1.5pt; text-align: right"> </td>
<td style="border-bottom: black 1.5pt solid"> </td>
<td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 10pt">705,000</font></td>
<td nowrap="nowrap" style="padding-bottom: 1.5pt"> </td>
<td style="padding-bottom: 1.5pt; text-align: right"> </td>
<td style="border-bottom: black 1.5pt solid"> </td>
<td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 10pt">39</font></td>
<td nowrap="nowrap" style="padding-bottom: 1.5pt"><font style="font-size: 10pt">%</font></td>
<td style="padding-bottom: 1.5pt; text-align: right"> </td>
<td style="border-bottom: black 1.5pt solid"> </td>
<td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 10pt">455,000</font></td>
<td nowrap="nowrap" style="padding-bottom: 1.5pt"> </td>
<td style="padding-bottom: 1.5pt; text-align: right"> </td>
<td style="border-bottom: black 1.5pt solid"> </td>
<td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 10pt">29</font></td>
<td nowrap="nowrap" style="padding-bottom: 1.5pt"><font style="font-size: 10pt">%</font></td>
<td style="padding-bottom: 1.5pt; text-align: right"> </td>
<td style="border-bottom: black 1.5pt solid"> </td>
<td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 10pt">484,000</font></td>
<td nowrap="nowrap" style="padding-bottom: 1.5pt"> </td>
<td style="padding-bottom: 1.5pt; text-align: right"> </td>
<td style="border-bottom: black 1.5pt solid"> </td>
<td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 10pt">31</font></td>
<td nowrap="nowrap" style="padding-bottom: 1.5pt"><font style="font-size: 10pt">%</font></td></tr>
<tr style="vertical-align: bottom; background-color: #CCEEFF">
<td style="padding-bottom: 1.5pt"><font style="font-size: 10pt">Actual income tax benefit</font></td>
<td style="padding-bottom: 1.5pt; text-align: right"> </td>
<td style="border-bottom: black 1.5pt solid"> </td>
<td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 10pt">-</font></td>
<td nowrap="nowrap" style="padding-bottom: 1.5pt"> </td>
<td style="padding-bottom: 1.5pt; text-align: right"> </td>
<td style="border-bottom: black 1.5pt solid"> </td>
<td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 10pt">-</font></td>
<td nowrap="nowrap" style="padding-bottom: 1.5pt"> </td>
<td style="padding-bottom: 1.5pt; text-align: right"> </td>
<td style="border-bottom: black 1.5pt solid"> </td>
<td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 10pt">-</font></td>
<td nowrap="nowrap" style="padding-bottom: 1.5pt"> </td>
<td style="padding-bottom: 1.5pt; text-align: right"> </td>
<td style="border-bottom: black 1.5pt solid"> </td>
<td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 10pt">-</font></td>
<td nowrap="nowrap" style="padding-bottom: 1.5pt"> </td>
<td style="padding-bottom: 1.5pt; text-align: right"> </td>
<td style="border-bottom: black 1.5pt solid"> </td>
<td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 10pt">-</font></td>
<td nowrap="nowrap" style="padding-bottom: 1.5pt"> </td>
<td style="padding-bottom: 1.5pt; text-align: right"> </td>
<td style="border-bottom: black 1.5pt solid"> </td>
<td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 10pt">-</font></td>
<td nowrap="nowrap" style="padding-bottom: 1.5pt"> </td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0">The tax effects of the temporary differences that give rise
to significant portions of deferred income tax assets are presented below:</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0"> </p>
<table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%">
<tr>
<td> </td>
<td colspan="3"> </td>
<td nowrap="nowrap" style="vertical-align: bottom"> </td>
<td colspan="3"> </td>
<td nowrap="nowrap" style="vertical-align: bottom"> </td></tr>
<tr style="vertical-align: bottom">
<td style="padding-bottom: 1.5pt"> </td>
<td colspan="7" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 10pt"><b>As of March 31,</b></font></td>
<td nowrap="nowrap" style="padding-bottom: 1.5pt"> </td></tr>
<tr style="vertical-align: bottom">
<td style="padding-bottom: 1.5pt"> </td>
<td colspan="3" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 10pt"><b>2018</b></font></td>
<td nowrap="nowrap" style="padding-bottom: 1.5pt"> </td>
<td colspan="3" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 10pt"><b>2017</b></font></td>
<td nowrap="nowrap" style="padding-bottom: 1.5pt"> </td></tr>
<tr style="vertical-align: bottom; background-color: #CCEEFF">
<td style="width: 72%; padding-bottom: 1.5pt"> </td>
<td style="width: 1%; padding-bottom: 1.5pt; text-align: right"> </td>
<td style="width: 1%; border-bottom: black 1.5pt solid"><font style="font-size: 10pt">$</font></td>
<td style="width: 11%; border-bottom: black 1.5pt solid; text-align: right"> </td>
<td nowrap="nowrap" style="width: 1%; padding-bottom: 1.5pt"> </td>
<td style="width: 1%; padding-bottom: 1.5pt; text-align: right"> </td>
<td style="width: 1%; border-bottom: black 1.5pt solid"><font style="font-size: 10pt">$</font></td>
<td style="width: 11%; border-bottom: black 1.5pt solid; text-align: right"> </td>
<td nowrap="nowrap" style="width: 1%; padding-bottom: 1.5pt"> </td></tr>
<tr style="vertical-align: bottom; background-color: white">
<td><font style="font-size: 10pt">Net operating tax loss carried forwards</font></td>
<td style="text-align: right"> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 10pt">2,229,000</font></td>
<td nowrap="nowrap"> </td>
<td style="text-align: right"> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 10pt">1,818,000</font></td>
<td nowrap="nowrap"> </td></tr>
<tr style="vertical-align: bottom; background-color: #CCEEFF">
<td style="padding-bottom: 1.5pt"><font style="font-size: 10pt">Valuation allowance</font></td>
<td style="padding-bottom: 1.5pt; text-align: right"> </td>
<td style="border-bottom: black 1.5pt solid"> </td>
<td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 10pt">(2,229,000</font></td>
<td nowrap="nowrap" style="padding-bottom: 1.5pt"><font style="font-size: 10pt">)</font></td>
<td style="padding-bottom: 1.5pt; text-align: right"> </td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="padding-bottom: 1.5pt; text-align: right"><font style="font-size: 10pt">(1,818,000</font></td>
<td nowrap="nowrap" style="padding-bottom: 1.5pt"><font style="font-size: 10pt">)</font></td></tr>
<tr style="vertical-align: bottom; background-color: white">
<td style="padding-bottom: 3pt"><font style="font-size: 10pt">Net deferred tax assets</font></td>
<td style="padding-bottom: 3pt; text-align: right"> </td>
<td style="border-bottom: black 2.25pt double"> </td>
<td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 10pt">-</font></td>
<td nowrap="nowrap" style="padding-bottom: 3pt"> </td>
<td style="padding-bottom: 3pt; text-align: right"> </td>
<td style="border-bottom: black 2.25pt double"> </td>
<td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 10pt">-</font></td>
<td nowrap="nowrap" style="padding-bottom: 3pt"> </td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0; text-align: justify">For each of the years ended March 31, 2018,
2017 and 2016, the Company did not have unrecognized tax benefits, and therefore no interest or penalties related to unrecognized
tax benefits were accrued. Management does not expect that the amount of unrecognized tax benefits will change significantly within
the next twelve months.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0; text-align: justify">The Company mainly files income tax returns
in the United States and the UK. The Company is subject to U.S. federal income tax examination by tax authorities for tax years
beginning in 2014.   The UK tax returns for the Company’s UK subsidiaries are open to examination by the UK tax
authorities for the tax years beginning in April 1, 2012.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0; text-align: justify">As of March 31, 2018, the Company has net
operating losses (NOLs) of approximately $1.4 million in the US and $7.1 million in the UK.  These US and UK NOLs may be carried
forward indefinitely.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0; text-align: justify"><b>NOTE 9 – STOCKHOLDERS’ EQUITY</b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0; text-align: justify">In November 2015, the Company issued 5
million shares of common stock and warrants to purchase 10 million shares of common stock for total proceeds of $10 million. The
warrants are exercisable at $0.50 per share through to the fifth anniversary of the listing of the Company on a national exchange. 
The Company listed to the Nasdaq exchange on January 25, 2018.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0"><b>NOTE 10 - QUARTERLY FINANCIAL INFORMATION (UNAUDITED)</b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0"><b> </b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0">The following is a summary of consolidated quarterly financial
information: </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0"> </p>
<table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%">
<tr>
<td colspan="16"> </td>
<td nowrap="nowrap" style="vertical-align: bottom"> </td></tr>
<tr>
<td> </td>
<td> </td>
<td colspan="2"> </td>
<td nowrap="nowrap" style="vertical-align: bottom"> </td>
<td> </td>
<td colspan="2"> </td>
<td nowrap="nowrap" style="vertical-align: bottom"> </td>
<td> </td>
<td colspan="2"> </td>
<td nowrap="nowrap" style="vertical-align: bottom"> </td>
<td> </td>
<td colspan="2"> </td>
<td nowrap="nowrap" style="vertical-align: bottom"> </td></tr>
<tr style="vertical-align: bottom">
<td style="padding-bottom: 1.5pt; text-align: center"> </td>
<td colspan="15" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 10pt"><b>Quarter Ended</b></font></td>
<td nowrap="nowrap" style="padding-bottom: 1.5pt"> </td></tr>
<tr style="vertical-align: bottom">
<td style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 10pt"><b>2018</b></font></td>
<td colspan="3" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 10pt"><b>June 30</b></font></td>
<td nowrap="nowrap" style="padding-bottom: 1.5pt"> </td>
<td colspan="3" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 10pt"><b>Sept. 30</b></font></td>
<td nowrap="nowrap" style="padding-bottom: 1.5pt"> </td>
<td colspan="3" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 10pt"><b>Dec. 31</b></font></td>
<td nowrap="nowrap" style="padding-bottom: 1.5pt"> </td>
<td colspan="3" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 10pt"><b>March 31</b></font></td>
<td nowrap="nowrap" style="padding-bottom: 1.5pt"> </td></tr>
<tr style="vertical-align: bottom; background-color: #CCEEFF">
<td style="width: 44%"><font style="font-size: 10pt">Total revenue</font></td>
<td style="width: 1%; text-align: right"> </td>
<td style="width: 1%"><font style="font-size: 10pt">$</font></td>
<td style="width: 11%; text-align: right"><font style="font-size: 10pt">-</font></td>
<td nowrap="nowrap" style="width: 1%"> </td>
<td style="width: 1%; text-align: right"> </td>
<td style="width: 1%"><font style="font-size: 10pt">$</font></td>
<td style="width: 11%; text-align: right"><font style="font-size: 10pt">-</font></td>
<td nowrap="nowrap" style="width: 1%"> </td>
<td style="width: 1%; text-align: right"> </td>
<td style="width: 1%"><font style="font-size: 10pt">$</font></td>
<td style="width: 11%; text-align: right"><font style="font-size: 10pt">-</font></td>
<td nowrap="nowrap" style="width: 1%"> </td>
<td style="width: 1%; text-align: right"> </td>
<td style="width: 1%"><font style="font-size: 10pt">$</font></td>
<td style="width: 11%; text-align: right"><font style="font-size: 10pt">-</font></td>
<td nowrap="nowrap" style="width: 1%"> </td></tr>
<tr style="vertical-align: bottom; background-color: white">
<td><font style="font-size: 10pt">Loss from operations</font></td>
<td style="text-align: right"> </td>
<td><font style="font-size: 10pt">$</font></td>
<td style="text-align: right"><font style="font-size: 10pt">(417,320</font></td>
<td nowrap="nowrap"><font style="font-size: 10pt">)</font></td>
<td style="text-align: right"> </td>
<td><font style="font-size: 10pt">$</font></td>
<td style="text-align: right"><font style="font-size: 10pt">(447,516</font></td>
<td nowrap="nowrap"><font style="font-size: 10pt">)</font></td>
<td style="text-align: right"> </td>
<td><font style="font-size: 10pt">$</font></td>
<td style="text-align: right"><font style="font-size: 10pt">(476,353</font></td>
<td nowrap="nowrap"><font style="font-size: 10pt">)</font></td>
<td style="text-align: right"> </td>
<td><font style="font-size: 10pt">$</font></td>
<td style="text-align: right"><font style="font-size: 10pt">(567,776</font></td>
<td nowrap="nowrap"><font style="font-size: 10pt">)</font></td></tr>
<tr style="vertical-align: bottom; background-color: #CCEEFF">
<td><font style="font-size: 10pt">Net loss</font></td>
<td style="text-align: right"> </td>
<td><font style="font-size: 10pt">$</font></td>
<td style="text-align: right"><font style="font-size: 10pt">(407,787</font></td>
<td nowrap="nowrap"><font style="font-size: 10pt">)</font></td>
<td style="text-align: right"> </td>
<td><font style="font-size: 10pt">$</font></td>
<td style="text-align: right"><font style="font-size: 10pt">(393,031</font></td>
<td nowrap="nowrap"><font style="font-size: 10pt">)</font></td>
<td style="text-align: right"> </td>
<td><font style="font-size: 10pt">$</font></td>
<td style="text-align: right"><font style="font-size: 10pt">(466,365</font></td>
<td nowrap="nowrap"><font style="font-size: 10pt">)</font></td>
<td style="text-align: right"> </td>
<td><font style="font-size: 10pt">$</font></td>
<td style="text-align: right"><font style="font-size: 10pt">(553,266</font></td>
<td nowrap="nowrap"><font style="font-size: 10pt">)</font></td></tr>
<tr style="vertical-align: bottom; background-color: white">
<td><font style="font-size: 10pt">Basic and diluted loss per share</font></td>
<td style="text-align: right"> </td>
<td><font style="font-size: 10pt">$</font></td>
<td style="text-align: right"><font style="font-size: 10pt">*</font></td>
<td nowrap="nowrap"> </td>
<td style="text-align: right"> </td>
<td><font style="font-size: 10pt">$</font></td>
<td style="text-align: right"><font style="font-size: 10pt">*</font></td>
<td nowrap="nowrap"> </td>
<td style="text-align: right"> </td>
<td><font style="font-size: 10pt">$</font></td>
<td style="text-align: right"><font style="font-size: 10pt">*</font></td>
<td nowrap="nowrap"> </td>
<td style="text-align: right"> </td>
<td><font style="font-size: 10pt">$</font></td>
<td style="text-align: right"><font style="font-size: 10pt">*</font></td>
<td nowrap="nowrap"> </td></tr>
<tr style="vertical-align: bottom; background-color: #CCEEFF">
<td><font style="font-size: 10pt">Weighted average number of shares outstanding</font></td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 10pt">205,000,000</font></td>
<td nowrap="nowrap"> </td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 10pt">205,000,000</font></td>
<td nowrap="nowrap"> </td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 10pt">121,411,478</font></td>
<td nowrap="nowrap"> </td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 10pt">150,070,400</font></td>
<td nowrap="nowrap"> </td></tr>
<tr style="vertical-align: bottom; background-color: white">
<td> </td>
<td> </td>
<td style="text-align: right"> </td>
<td nowrap="nowrap"> </td>
<td> </td>
<td> </td>
<td style="text-align: right"> </td>
<td nowrap="nowrap"> </td>
<td> </td>
<td> </td>
<td style="text-align: right"> </td>
<td nowrap="nowrap"> </td>
<td> </td>
<td> </td>
<td style="text-align: right"> </td>
<td nowrap="nowrap"> </td>
<td> </td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0"> </p>
<table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: bottom">
<td style="padding-bottom: 1.5pt; text-align: center"> </td>
<td style="padding-bottom: 1.5pt"> </td>
<td colspan="14" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 10pt"><b>Quarter Ended</b></font></td>
<td nowrap="nowrap" style="padding-bottom: 1.5pt"> </td></tr>
<tr style="vertical-align: bottom">
<td style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 10pt"><b>2017</b></font></td>
<td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 10pt"><b>June 30</b></font></td>
<td nowrap="nowrap" style="padding-bottom: 1.5pt"> </td>
<td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 10pt"><b>Sept. 30</b></font></td>
<td nowrap="nowrap" style="padding-bottom: 1.5pt"> </td>
<td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 10pt"><b>Dec. 31</b></font></td>
<td nowrap="nowrap" style="padding-bottom: 1.5pt"> </td>
<td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 10pt"><b>March 31</b></font></td>
<td nowrap="nowrap" style="padding-bottom: 1.5pt"> </td></tr>
<tr style="vertical-align: bottom; background-color: #CCEEFF">
<td style="width: 44%"><font style="font-size: 10pt">Total revenue</font></td>
<td style="width: 1%; text-align: right"> </td>
<td style="width: 1%"><font style="font-size: 10pt">$</font></td>
<td style="width: 11%; text-align: right"><font style="font-size: 10pt">-</font></td>
<td nowrap="nowrap" style="width: 1%"> </td>
<td style="width: 1%; text-align: right"> </td>
<td style="width: 1%"><font style="font-size: 10pt">$</font></td>
<td style="width: 11%; text-align: right"><font style="font-size: 10pt">-</font></td>
<td nowrap="nowrap" style="width: 1%"> </td>
<td style="width: 1%; text-align: right"> </td>
<td style="width: 1%"><font style="font-size: 10pt">$</font></td>
<td style="width: 11%; text-align: right"><font style="font-size: 10pt">-</font></td>
<td nowrap="nowrap" style="width: 1%"> </td>
<td style="width: 1%; text-align: right"> </td>
<td style="width: 1%"><font style="font-size: 10pt">$</font></td>
<td style="width: 11%; text-align: right"><font style="font-size: 10pt">-</font></td>
<td nowrap="nowrap" style="width: 1%"> </td></tr>
<tr style="vertical-align: bottom; background-color: white">
<td><font style="font-size: 10pt">Loss from operations</font></td>
<td style="text-align: right"> </td>
<td><font style="font-size: 10pt">$</font></td>
<td style="text-align: right"><font style="font-size: 10pt">(494,183</font></td>
<td nowrap="nowrap"><font style="font-size: 10pt">)</font></td>
<td style="text-align: right"> </td>
<td><font style="font-size: 10pt">$</font></td>
<td style="text-align: right"><font style="font-size: 10pt">(322,482</font></td>
<td nowrap="nowrap"><font style="font-size: 10pt">)</font></td>
<td style="text-align: right"> </td>
<td><font style="font-size: 10pt">$</font></td>
<td style="text-align: right"><font style="font-size: 10pt">(375,366</font></td>
<td nowrap="nowrap"><font style="font-size: 10pt">)</font></td>
<td style="text-align: right"> </td>
<td><font style="font-size: 10pt">$</font></td>
<td style="text-align: right"><font style="font-size: 10pt">(359,235</font></td>
<td nowrap="nowrap"><font style="font-size: 10pt">)</font></td></tr>
<tr style="vertical-align: bottom; background-color: #CCEEFF">
<td><font style="font-size: 10pt">Net loss</font></td>
<td style="text-align: right"> </td>
<td><font style="font-size: 10pt">$</font></td>
<td style="text-align: right"><font style="font-size: 10pt">(494,183</font></td>
<td nowrap="nowrap"><font style="font-size: 10pt">)</font></td>
<td style="text-align: right"> </td>
<td><font style="font-size: 10pt">$</font></td>
<td style="text-align: right"><font style="font-size: 10pt">(322,482</font></td>
<td nowrap="nowrap"><font style="font-size: 10pt">)</font></td>
<td style="text-align: right"> </td>
<td><font style="font-size: 10pt">$</font></td>
<td style="text-align: right"><font style="font-size: 10pt">(375,366</font></td>
<td nowrap="nowrap"><font style="font-size: 10pt">)</font></td>
<td style="text-align: right"> </td>
<td><font style="font-size: 10pt">$</font></td>
<td style="text-align: right"><font style="font-size: 10pt">(359,235</font></td>
<td nowrap="nowrap"><font style="font-size: 10pt">)</font></td></tr>
<tr style="vertical-align: bottom; background-color: white">
<td><font style="font-size: 10pt">Basic and diluted loss per share</font></td>
<td style="text-align: right"> </td>
<td><font style="font-size: 10pt">$</font></td>
<td style="text-align: right"><font style="font-size: 10pt">*</font></td>
<td nowrap="nowrap"> </td>
<td style="text-align: right"> </td>
<td><font style="font-size: 10pt">$</font></td>
<td style="text-align: right"><font style="font-size: 10pt">*</font></td>
<td nowrap="nowrap"> </td>
<td style="text-align: right"> </td>
<td><font style="font-size: 10pt">$</font></td>
<td style="text-align: right"><font style="font-size: 10pt">*</font></td>
<td nowrap="nowrap"> </td>
<td style="text-align: right"> </td>
<td><font style="font-size: 10pt">$</font></td>
<td style="text-align: right"><font style="font-size: 10pt">*</font></td>
<td nowrap="nowrap"> </td></tr>
<tr style="vertical-align: bottom; background-color: #CCEEFF">
<td><font style="font-size: 10pt">Weighted average number of shares outstanding</font></td>
<td style="text-align: right"> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 10pt">205,000,000</font></td>
<td nowrap="nowrap"> </td>
<td style="text-align: right"> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 10pt">205,000,000</font></td>
<td nowrap="nowrap"> </td>
<td style="text-align: right"> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 10pt">205,000,000</font></td>
<td nowrap="nowrap"> </td>
<td style="text-align: right"> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 10pt">205,000,000</font></td>
<td nowrap="nowrap"> </td></tr>
<tr style="vertical-align: bottom; background-color: white">
<td> </td>
<td nowrap="nowrap"> </td>
<td nowrap="nowrap"> </td>
<td nowrap="nowrap" style="text-align: right"> </td>
<td nowrap="nowrap"> </td>
<td nowrap="nowrap"> </td>
<td nowrap="nowrap"> </td>
<td nowrap="nowrap" style="text-align: right"> </td>
<td nowrap="nowrap"> </td>
<td nowrap="nowrap"> </td>
<td nowrap="nowrap"> </td>
<td nowrap="nowrap" style="text-align: right"> </td>
<td nowrap="nowrap"> </td>
<td nowrap="nowrap"> </td>
<td nowrap="nowrap"> </td>
<td nowrap="nowrap" style="text-align: right"> </td>
<td nowrap="nowrap"> </td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0">* less than $0.01</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0; text-align: justify">(a)  Cash and cash equivalents</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0; text-align: justify">The Company considers all highly liquid
investments purchased with original maturities of three months or less to be cash equivalents.  Cash and cash equivalents
consist primarily of cash deposits maintained in the United Kingdom. From time to time, the Company’s cash account balances
exceed amounts covered by the Financial Services Compensation Scheme. The Company has never suffered a loss due to such excess
balances.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0; text-align: justify">(b) Fixed rate cash accounts:</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0; text-align: justify">From time to time the Company invests funds
in fixed rate cash savings accounts.  These accounts, at the time of the initial investment, provide a higher interest rate
than other bank accounts, and also require the Company to maintain the funds in the accounts for a period of time, currently $4.9
million through December 2018.  Early withdrawal may generally be made for liquidity needs.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0; text-align: justify">(c) Fair value of financial instruments</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0; text-align: justify">The Company’s financial instruments
primarily consist of cash, accounts receivable, fixed rate cash accounts, and accounts payable.  As of the year-end dates,
the estimated fair values of non-related party financial instruments were not materially different from their carrying values as
presented, due to their short maturities. The fair value of amounts payable to related parties are not practicable to estimate
due to the related party nature of the underlying transactions.   </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0; text-align: justify">(d) Property and equipment</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0; text-align: justify">Property and equipment is stated at
cost and depreciated using the straight-line method over the estimated useful lives of the assets, generally ten years for
fixtures and fittings.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0; text-align: justify">(e) Intangible assets</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0; text-align: justify">Intangible assets consist of licenses and
patents associated with the sugarBEAT device and are amortized on a straight-line basis, generally over their legal lives of up
to 20 years and are reviewed for impairment. The Company evaluates its intangible assets (all have finite lives) and other long-lived
assets for impairment whenever events or circumstances indicate that they may not be recoverable, or at least annually. Recoverability
of finite and other long-lived assets is measured by comparing the carrying amount of an asset group to the future undiscounted
net cash flows expected to be generated by that asset group. The Company groups assets for purposes of such review at the lowest
level for which identifiable cash flows of the asset group are largely independent of the cash flows of the other groups of assets
and liabilities. The amount of impairment to be recognized for finite and other long-lived assets is calculated as the difference
between the carrying value and the fair value of the asset group, generally measured by discounting estimated future cash flows.
There were no impairment indicators present during the years ended March 31, 2018, 2017 or 2016.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0; text-align: justify">(f) Revenue Recognition</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0; text-align: justify">Revenue is recognized when the four basic
criteria of revenue recognition are met:  (1) a contractual agreement exists; (2) transfer of rights has been completed; (3)
the fee is fixed or determinable; and (4) collectability is reasonably assured.  </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0; text-align: justify">The Company may enter into product development
and other agreements and with collaborative partners. The terms of the agreements may include non-refundable signing and licensing
fees, milestone payments and royalties on any product sales derived from collaborations.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0; text-align: justify">The Company recognizes up front license
payments as revenue upon delivery of the license only if the license has stand alone value to the customer. However, where further
performance criteria must be met, revenue is deferred and recognized on a straight line basis over the period the Company is expected
to complete its performance obligations (note 4).</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0; text-align: justify">Royalty revenue will be recognized upon
the sale of the related products provided the Company has no remaining performance obligations under the agreement.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0; text-align: justify">(g) Research and development expenses</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0; text-align: justify">The Company charges research and development
expenses to operations as incurred. Research and development expenses primarily consist of salaries and related expenses for personnel
and outside contractor and consulting services. Other research and development expenses include the costs of materials and supplies
used in research and development, prototype manufacturing, clinical studies, related information technology and an allocation of
facilities costs.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0; text-align: justify">(h) Income taxes</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0; text-align: justify">Income taxes are accounted for under the
asset and liability method. Deferred income tax assets and liabilities are recognized for the future tax consequences attributable
to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases,
and operating loss carry forwards. Deferred income tax assets and liabilities are measured using enacted tax rates expected to
apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on
deferred income tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment
date. A valuation allowance is provided to reduce the carrying amount of deferred income tax assets if it is considered more likely
than not that some portion, or all, of the deferred income tax assets will not be realized.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0; text-align: justify">The Company recognizes the effect of income
tax positions only if those positions are more likely than not of being sustained.  Recognized income tax positions are measured
at the largest amount that is greater than 50% likely of being realized. Changes in recognition or measurement are reflected in
the period in which the change in judgment occurs. The Company has elected to classify interest and penalties related to unrecognized
tax benefits as part of income tax expense in the consolidated statements of comprehensive loss. The Company does not have any
accrued interest or penalties associated with any unrecognized tax benefits, nor was any interest expense related to unrecognized
tax benefits recognized for the years ended March 31, 2018, 2017 and 2016.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0; text-align: justify">In December 2017, the US Tax Cuts and Jobs
Act (the”Act”) was signed into law.  Generally, this Act reduces corporate rates from a top rate of 35% to a top
rate of 21%, effective January 1, 2018.  As the Company’s US operations are minimal, and all deferred tax assets are
fully allowed for, there is no significant impact to the Company as of and for the three and twelve month periods ended March 31,
2018.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0">(i) Earnings per share</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0; text-align: justify">Basic earnings per share is computed
by dividing income available to common stockholders by the weighted-average number of common shares outstanding during the
period. There were no potentially dilutive securities as of March 31, 2018, 2017 and 2016. For the years ended March 31,
2018, 2017 and 2016, warrants to purchase 10 million shares of common stock and preferred stock convertible to 137,324,000
shares of common stock were anti-dilutive and were excluded from the calculation of diluted loss per share.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0; text-align: justify">(j) Use of estimates</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0; text-align: justify">The preparation of financial statements
in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions
that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the
financial statements and the reported amounts of revenues and expenses during the year. Actual results may differ from those estimates.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0; text-align: justify">(k) Foreign currency translation</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0; text-align: justify">The functional currency of the Company
is the Great Britain Pound Sterling (“GBP”).  The reporting currency is the United States dollar (US$).  Stockholders’
equity is translated into United States dollars from GBP at historical exchange rates.  Assets and liabilities are translated
at the exchange rates as of balance sheet date. Income and expenditures are translated at the average exchange rates prevailing
during the reporting period. The translation rates are as follows for each year end to March 31:</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0"> </p>
<table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%">
<tr>
<td> </td>
<td> </td>
<td> </td>
<td style="vertical-align: top"> </td></tr>
<tr>
<td style="vertical-align: top"> </td>
<td style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 10pt"><b>   2018</b></font></td>
<td style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 10pt"><b>2017</b></font></td>
<td style="vertical-align: top; border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 10pt"><b>2016</b></font></td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top"><font style="font-size: 10pt">Year end GBP : US$ exchange rate</font></td>
<td style="text-align: center"><font style="font-size: 10pt">1:1.4033</font></td>
<td style="text-align: center"><font style="font-size: 10pt">1:1.2453</font></td>
<td style="vertical-align: top; text-align: center"><font style="font-size: 10pt">1:1.4318</font></td></tr>
<tr style="background-color: white">
<td style="vertical-align: top"><font style="font-size: 10pt">Average period/yearly GBP : US$ exchange rate           </font></td>
<td style="text-align: center"><font style="font-size: 10pt">1:1.3305</font></td>
<td style="text-align: center"><font style="font-size: 10pt">1:1.3146</font></td>
<td style="vertical-align: top; text-align: center"><font style="font-size: 10pt">1:1.5224</font></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0; text-align: justify">Adjustments resulting from translating
the financial statements into the United States dollar are recorded as a separate component of accumulated other comprehensive
loss in stockholders’ equity.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0; text-align: justify">(l) Recent accounting pronouncements</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0; text-align: justify">The Company continually assesses any new
accounting pronouncements to determine their applicability. When it is determined that a new accounting pronouncement affects the
Company's financial reporting, the Company undertakes a study to determine the consequences of the change to its consolidated financial
statements and assures that there are proper controls in place to ascertain that the Company's consolidated financial statements
properly reflect the change.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0; text-align: justify">In May 2014, the Financial Accounting Standards
Board ("FASB") issued Accounting Standards Updates ("ASU") No. 2014-09, Revenue from Contracts with Customers.
ASU 2014-09 has been modified multiple times since its initial release. This ASU outlines a single comprehensive model for entities
to use in accounting for revenue arising from contracts with customers and will replace most existing revenue recognition guidance
in U.S. GAAP when it becomes effective. ASU 2014-09, as amended, becomes effective for annual reporting periods beginning after
December 15, 2017. Early adoption is permitted. As an Emerging Growth Company, the Company is allowed to adopt new, or updated,
accounting standards using the same time frame that applies to private companies.  The Company will adopt this standard on
April 1, 2019.  Management is currently evaluating the impact of adoption of this ASU on the Company’s consolidated
financial statements.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0; text-align: justify">In March 2016, the FASB issued ASU No.
2016-02, Leases. The main difference between the provisions of ASU No. 2016-02 and previous U.S. GAAP is the recognition of right-of-use
assets and lease liabilities by lessees for those leases classified as operating leases under previous U.S. GAAP. ASU No. 2016-
02 retains a distinction between finance leases and operating leases, and the recognition, measurement, and presentation of expenses
and cash flows arising from a lease by a lessee have not significantly changed from previous U.S. GAAP. For leases with a term
of 12 months or less, a lessee is permitted to make an accounting policy election by class of underlying asset not to recognize
right-of-use assets and lease liabilities. The accounting applied by a lessor is largely unchanged from that applied under previous
U.S. GAAP. In transition, lessees and lessors are required to recognize and measure leases at the beginning of the earliest period
presented using a modified retrospective approach. This ASU is effective for public business entities in fiscal years, and interim
periods within those fiscal years, beginning after December 15, 2018. Early adoption is permitted as of the beginning of any interim
or annual reporting period.  As an Emerging Growth Company, the Company is allowed to adopt new, or updated, accounting standards
using the same time frame that applies to private companies.  The Company will adopt this standard on April 1, 2020.  
Management is currently evaluating the impact of adoption of this ASU on the Company’s consolidated financial statements.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0; text-align: justify">In August 2016, the FASB issued ASU No.
2016-15, Statement of Cash Flows - Classification of Certain Cash Receipts and Cash Payments. ASU No. 2016-15 is intended to reduce
diversity in how certain cash receipts and cash payments are presented in the statement of cash flows. The new guidance clarifies
the classification of cash activity related to debt prepayment or debt extinguishment costs, settlement of zero-coupon debt instruments,
contingent consideration payments made after a business combination, proceeds from the settlement of insurance claims, proceeds
from the settlement of corporate and bank-owned life insurance policies, distributions received from equity-method investments,
and beneficial interests in securitization transactions. The guidance also describes a predominance principle pursuant to which
cash flows with aspects of more than one class that cannot be separated should be classified based on the activity that is likely
to be the predominant source or use of cash flow. This ASU is effective for public entities for annual and interim periods beginning
after December 15, 2017. Early adoption is permitted as of the beginning of any interim or annual reporting period. The Company
is currently evaluating the impact this standard will have on its financial statements and related disclosures, but does not expect
it to have a material effect on the Company's consolidated financial statements and related disclosures.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0; text-align: justify">(m) Risks and Uncertainties:</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0; text-align: justify">The Company is in the development stage
of one primary product that it expects to introduce to the UK market after completion of clinical trials and CE mark approval (European
Union approval of the product). The Company has entered into sales and marketing agreements for the product but has not yet entered
into manufacturing agreements.  These matters raise uncertainties as regulatory acceptance of the Company’s primary
product development efforts and if acceptance is attained, the cost structure to produce the product.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0; text-align: justify">(n) Preferred shares</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0; text-align: justify">On October 5, 2017, the Company entered
into common stock exchange agreements with each of its three largest shareholders, to exchange, in the aggregate, 137,324,000 shares
of the Company’s common stock for 137,324 shares of Series A Convertible Preferred Stock.  Each share of Series A Convertible
Preferred Stock is convertible into 1,000 shares of the Company’s common stock, automatically upon the occurrence of all
of certain triggering events, as set forth in the Certificate of Designation, namely (a) the sugarBEAT® device to be commercialized
has CE regulatory approval; (b) retail sales having commenced; and (c) retail sales exceeding USD$5 million, inclusive of advanced
sales or voluntarily by the holder after February 7, 2018, if these triggering events have not occurred.  Each holder of issued
and outstanding Series A Convertible Preferred Stock is entitled to a number of votes equal to the number of shares of common stock
into which the Series A Convertible Preferred Stock is convertible. Holders of Series A Convertible Preferred Stock are entitled
to vote on any and all matters presented to stockholders of the Company, except as provided by law.  The Series A Convertible
Preferred Stock has no preference to the common stock as to dividends or distributions of assets upon liquidation or winding up
of the Company (which has been agreed to by the holders of the Series A Convertible Preferred Stock).  The Company determined
that the fair value of the preferred shares issued for the common shares was equivalent to the fair value of the common shares
exchanged.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0; text-align: justify">On November 6, 2017, the transaction was
consummated and 137,324,000 shares of common stock were cancelled.  As a result, the Company has 67,676,000 shares of common
stock issued and outstanding.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0; text-align: justify">(o) Subsequent events</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0; text-align: justify">We have signed a full commercial agreement
with Dallas Burston Ethitronix Limited in May 2018 for all other European territories as part of an equal joint venture agreement.
The joint venture intends to seek sub-license rights opportunities to one or more leading companies in the diabetes
monitoring space, to leverage their network, infrastructure and resources.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0; text-align: justify">On June 5, 2018, the three holders of our
Series A Convertible Preferred Stock (the “Series A Preferred”) each delivered notices of conversion to voluntarily
convert their Series A Preferred, in the aggregate amount of 137,324 shares, into 137,324,000 shares of our common stock. 
The holders had the right to voluntarily convert each share of Series A Preferred into 1,000 shares of common stock of the Company. 
As a result of the conversion, we currently have 205,000,000 shares of common stock outstanding.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0; text-align: justify">The translation rates are as follows for
each year end to March 31:</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0"> </p>
<table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%">
<tr>
<td> </td>
<td> </td>
<td> </td>
<td style="vertical-align: top"> </td></tr>
<tr>
<td style="vertical-align: top"> </td>
<td style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 10pt"><b>   2018</b></font></td>
<td style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 10pt"><b>2017</b></font></td>
<td style="vertical-align: top; border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 10pt"><b>2016</b></font></td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top"><font style="font-size: 10pt">Year end GBP : US$ exchange rate</font></td>
<td style="text-align: center"><font style="font-size: 10pt">1:1.4033</font></td>
<td style="text-align: center"><font style="font-size: 10pt">1:1.2453</font></td>
<td style="vertical-align: top; text-align: center"><font style="font-size: 10pt">1:1.4318</font></td></tr>
<tr style="background-color: white">
<td style="vertical-align: top"><font style="font-size: 10pt">Average period/yearly GBP : US$ exchange rate           </font></td>
<td style="text-align: center"><font style="font-size: 10pt">1:1.3305</font></td>
<td style="text-align: center"><font style="font-size: 10pt">1:1.3146</font></td>
<td style="vertical-align: top; text-align: center"><font style="font-size: 10pt">1:1.5224</font></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0; text-align: justify">As of March 31, 2018, and March 31, 2017
property and equipment is summarized as follows.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0"> </p>
<table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%">
<tr>
<td style="vertical-align: top; padding-bottom: 1.5pt"> </td>
<td style="vertical-align: bottom; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="vertical-align: top; border-bottom: black 1.5pt solid">
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>March 31, 2018</b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>($)</b></p></td>
<td nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 1.5pt"> </td>
<td style="vertical-align: bottom; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="vertical-align: top; border-bottom: black 1.5pt solid">
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>March 31, 2017</b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>($)</b></p></td>
<td nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 1.5pt"> </td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; width: 72%"><font style="font-size: 10pt">Fixtures and fittings</font></td>
<td style="vertical-align: bottom; width: 1%"> </td>
<td style="vertical-align: bottom; width: 1%"> </td>
<td style="vertical-align: bottom; width: 11%; text-align: right"><font style="font-size: 10pt">18,213</font></td>
<td nowrap="nowrap" style="vertical-align: bottom; width: 1%"> </td>
<td style="vertical-align: bottom; width: 1%"> </td>
<td style="vertical-align: bottom; width: 1%"> </td>
<td style="vertical-align: bottom; width: 11%; text-align: right"><font style="font-size: 10pt">16,163</font></td>
<td nowrap="nowrap" style="vertical-align: bottom; width: 1%"> </td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; padding-bottom: 1.5pt"><font style="font-size: 10pt">Less accumulated depreciation</font></td>
<td style="vertical-align: bottom; padding-bottom: 1.5pt"> </td>
<td style="vertical-align: bottom; border-bottom: black 1.5pt solid"> </td>
<td style="vertical-align: bottom; border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 10pt">(12,443</font></td>
<td nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 1.5pt"><font style="font-size: 10pt">)</font></td>
<td style="vertical-align: bottom; padding-bottom: 1.5pt"> </td>
<td style="vertical-align: bottom; border-bottom: black 1.5pt solid"> </td>
<td style="vertical-align: bottom; border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 10pt">(7,002</font></td>
<td nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 1.5pt"><font style="font-size: 10pt">)</font></td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; padding-bottom: 3pt"> </td>
<td style="vertical-align: bottom; padding-bottom: 3pt"> </td>
<td style="vertical-align: bottom; border-bottom: black 2.25pt double"> </td>
<td style="vertical-align: bottom; border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 10pt">5,770</font></td>
<td nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 3pt"> </td>
<td style="vertical-align: bottom; padding-bottom: 3pt"> </td>
<td style="vertical-align: bottom; border-bottom: black 2.25pt double"> </td>
<td style="vertical-align: bottom; border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 10pt">9,161</font></td>
<td nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 3pt"> </td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0">As of March 31, 2018, and March 31, 2017 intangible assets are
summarized as follows:</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0"> </p>
<table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%">
<tr>
<td> </td>
<td style="vertical-align: bottom"> </td>
<td colspan="2"> </td>
<td nowrap="nowrap" style="vertical-align: bottom"> </td>
<td style="vertical-align: bottom"> </td>
<td colspan="2"> </td>
<td nowrap="nowrap" style="vertical-align: bottom"> </td></tr>
<tr>
<td style="vertical-align: top; padding-bottom: 1.5pt"> </td>
<td style="vertical-align: bottom; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="vertical-align: top; border-bottom: black 1.5pt solid">
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>March 31, 2018</b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>($)</b></p></td>
<td nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 1.5pt"> </td>
<td style="vertical-align: bottom; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="vertical-align: top; border-bottom: black 1.5pt solid">
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>March 31, 2017</b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>($)</b></p></td>
<td nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 1.5pt"> </td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; width: 72%"><font style="font-size: 10pt">Patents and licenses</font></td>
<td style="vertical-align: bottom; width: 1%"> </td>
<td style="vertical-align: bottom; width: 1%"> </td>
<td style="vertical-align: bottom; width: 11%; text-align: right"><font style="font-size: 10pt">323,987</font></td>
<td nowrap="nowrap" style="vertical-align: bottom; width: 1%"> </td>
<td style="vertical-align: bottom; width: 1%"> </td>
<td style="vertical-align: bottom; width: 1%"> </td>
<td style="vertical-align: bottom; width: 11%; text-align: right"><font style="font-size: 10pt">244,457</font></td>
<td nowrap="nowrap" style="vertical-align: bottom; width: 1%"> </td></tr>
<tr style="background-color: white">
<td style="vertical-align: top; padding-bottom: 1.5pt"><font style="font-size: 10pt">Less accumulated amortization</font></td>
<td style="vertical-align: bottom; padding-bottom: 1.5pt"> </td>
<td style="vertical-align: bottom; border-bottom: black 1.5pt solid"> </td>
<td style="vertical-align: bottom; border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 10pt">(72,888</font></td>
<td nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 1.5pt"><font style="font-size: 10pt">)</font></td>
<td style="vertical-align: bottom; padding-bottom: 1.5pt"> </td>
<td style="vertical-align: bottom; border-bottom: black 1.5pt solid"> </td>
<td style="vertical-align: bottom; border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 10pt">(40,657</font></td>
<td nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 1.5pt"><font style="font-size: 10pt">)</font></td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: top; padding-bottom: 3pt"> </td>
<td style="vertical-align: bottom; padding-bottom: 3pt"> </td>
<td style="vertical-align: bottom; border-bottom: black 2.25pt double"> </td>
<td style="vertical-align: bottom; border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 10pt">251,099</font></td>
<td nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 3pt"> </td>
<td style="vertical-align: bottom; padding-bottom: 3pt"> </td>
<td style="vertical-align: bottom; border-bottom: black 2.25pt double"> </td>
<td style="vertical-align: bottom; border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 10pt">203,800</font></td>
<td nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 3pt"> </td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0; text-align: justify">Following is a summary of activity between
the Company and Pharma and NDM for the years ended March 31, 2018, 2017 and 2016. These amounts are unsecured, interest free, and
payable on demand.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0"> </p>
<table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%">
<tr>
<td> </td>
<td style="vertical-align: bottom"> </td>
<td colspan="2"> </td>
<td nowrap="nowrap" style="vertical-align: bottom"> </td>
<td style="vertical-align: bottom"> </td>
<td colspan="2"> </td>
<td nowrap="nowrap" style="vertical-align: bottom"> </td>
<td style="vertical-align: bottom"> </td>
<td colspan="2" style="vertical-align: top"> </td>
<td nowrap="nowrap" style="vertical-align: bottom"> </td></tr>
<tr>
<td style="vertical-align: bottom; padding-bottom: 1.5pt"> </td>
<td style="vertical-align: bottom; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="vertical-align: bottom; border-bottom: black 1.5pt solid">
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>Year Ended March 31,</b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>2018</b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>($)</b></p></td>
<td nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 1.5pt"> </td>
<td style="vertical-align: bottom; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="vertical-align: bottom; border-bottom: black 1.5pt solid">
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>Year Ended March 31,</b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>2017</b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>($)</b></p></td>
<td nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 1.5pt"> </td>
<td style="vertical-align: bottom; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="vertical-align: top; border-bottom: black 1.5pt solid">
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>Year Ended March 31,</b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>2016</b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>($)</b></p></td>
<td nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 1.5pt"> </td></tr>
<tr style="vertical-align: bottom; background-color: #CCEEFF">
<td style="width: 58%"><font style="font-size: 10pt">Balance due from Pharma and NDM at beginning of period</font></td>
<td style="width: 1%"> </td>
<td style="width: 1%"> </td>
<td style="width: 11%; text-align: right"><font style="font-size: 10pt">(687,609</font></td>
<td nowrap="nowrap" style="width: 1%"><font style="font-size: 10pt">)</font></td>
<td style="width: 1%"> </td>
<td style="width: 1%"> </td>
<td style="width: 11%; text-align: right"><font style="font-size: 10pt">(494,145</font></td>
<td nowrap="nowrap" style="width: 1%"><font style="font-size: 10pt">)</font></td>
<td style="width: 1%"> </td>
<td style="width: 1%"> </td>
<td style="width: 11%; text-align: right"><font style="font-size: 10pt">192,484</font></td>
<td nowrap="nowrap" style="width: 1%"> </td></tr>
<tr style="vertical-align: bottom; background-color: white">
<td><font style="font-size: 10pt">Amounts advanced to Pharma</font></td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 10pt">-</font></td>
<td nowrap="nowrap"> </td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 10pt">-</font></td>
<td nowrap="nowrap"> </td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 10pt">58,197</font></td>
<td nowrap="nowrap"> </td></tr>
<tr style="vertical-align: bottom; background-color: #CCEEFF">
<td><font style="font-size: 10pt">Amounts received from Pharma</font></td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 10pt">(145,214</font></td>
<td nowrap="nowrap"><font style="font-size: 10pt">)</font></td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 10pt">(2,480</font></td>
<td nowrap="nowrap"><font style="font-size: 10pt">)</font></td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 10pt">(228,361</font></td>
<td nowrap="nowrap"><font style="font-size: 10pt">)</font></td></tr>
<tr style="vertical-align: bottom; background-color: white">
<td><font style="font-size: 10pt"> Reduction in prepayments to Pharma for clinical trials</font></td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 10pt">-</font></td>
<td nowrap="nowrap"> </td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 10pt">-</font></td>
<td nowrap="nowrap"> </td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 10pt">(247,596</font></td>
<td nowrap="nowrap"><font style="font-size: 10pt">)</font></td></tr>
<tr style="vertical-align: bottom; background-color: #CCEEFF">
<td><font style="font-size: 10pt">Amounts invoiced by Pharma to DDL, NM and TCL (1)</font></td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 10pt">(842,739</font></td>
<td nowrap="nowrap"><font style="font-size: 10pt">)</font></td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 10pt">(577,481</font></td>
<td nowrap="nowrap"><font style="font-size: 10pt">)</font></td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 10pt">(331,714</font></td>
<td nowrap="nowrap"><font style="font-size: 10pt">)</font></td></tr>
<tr style="vertical-align: bottom; background-color: white">
<td><font style="font-size: 10pt">Amounts invoiced by DDL to Pharma</font></td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 10pt">-</font></td>
<td nowrap="nowrap"> </td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 10pt">15,305</font></td>
<td nowrap="nowrap"> </td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 10pt">16,307</font></td>
<td nowrap="nowrap"> </td></tr>
<tr style="vertical-align: bottom; background-color: #CCEEFF">
<td><font style="font-size: 10pt">Amounts repaid by DDL to Pharma</font></td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 10pt">1,096,767</font></td>
<td nowrap="nowrap"> </td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 10pt">249,060</font></td>
<td nowrap="nowrap"> </td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 10pt">-</font></td>
<td nowrap="nowrap"> </td></tr>
<tr style="vertical-align: bottom; background-color: white">
<td><font style="font-size: 10pt">Amounts paid by DDL on behalf of Pharma</font></td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 10pt">19,889</font></td>
<td nowrap="nowrap"> </td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 10pt">42,403</font></td>
<td nowrap="nowrap"> </td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 10pt">-</font></td>
<td nowrap="nowrap"> </td></tr>
<tr style="vertical-align: bottom; background-color: #CCEEFF">
<td><font style="font-size: 10pt">Sale of fixed and intangible assets to Pharma and NDM</font></td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 10pt">-</font></td>
<td nowrap="nowrap"> </td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 10pt">-</font></td>
<td nowrap="nowrap"> </td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 10pt">17,775</font></td>
<td nowrap="nowrap"> </td></tr>
<tr style="vertical-align: bottom; background-color: white">
<td style="padding-bottom: 1.5pt"><font style="font-size: 10pt">Foreign exchange differences</font></td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: black 1.5pt solid"> </td>
<td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 10pt">(54,912</font></td>
<td nowrap="nowrap" style="padding-bottom: 1.5pt"><font style="font-size: 10pt">)</font></td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: black 1.5pt solid"> </td>
<td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 10pt">79,729</font></td>
<td nowrap="nowrap" style="padding-bottom: 1.5pt"> </td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: black 1.5pt solid"> </td>
<td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 10pt">28,763</font></td>
<td nowrap="nowrap" style="padding-bottom: 1.5pt"> </td></tr>
<tr style="vertical-align: bottom; background-color: #CCEEFF">
<td style="padding-bottom: 3pt"><font style="font-size: 10pt">Net balance due to Pharma and NDM at end of the period</font></td>
<td style="padding-bottom: 3pt"> </td>
<td style="border-bottom: black 2.25pt double"> </td>
<td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 10pt">(613,818</font></td>
<td nowrap="nowrap" style="padding-bottom: 3pt"><font style="font-size: 10pt">)</font></td>
<td style="padding-bottom: 3pt"> </td>
<td style="border-bottom: black 2.25pt double"> </td>
<td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 10pt">(687,609</font></td>
<td nowrap="nowrap" style="padding-bottom: 3pt"><font style="font-size: 10pt">)</font></td>
<td style="padding-bottom: 3pt"> </td>
<td style="border-bottom: black 2.25pt double"> </td>
<td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 10pt">(494,145</font></td>
<td nowrap="nowrap" style="padding-bottom: 3pt"><font style="font-size: 10pt">)</font></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0"> </p>
<table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%">
<tr>
<td style="width: 1%"> </td>
<td style="vertical-align: top; width: 1%"><font style="font-size: 10pt">(1)</font></td>
<td style="vertical-align: top; width: 98%; text-align: justify"><font style="font-size: 10pt">These amounts are included primarily in research and development expenses.</font></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0; text-align: justify">For the years ended March 31, 2018, 2017
and 2016 loss before income tax expense (benefit) arose in the UK and U.S.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0"> </p>
<table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: bottom">
<td style="padding-bottom: 1.5pt"> </td>
<td style="padding-bottom: 1.5pt"> </td>
<td colspan="10" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 10pt"><b>Year ended March 31,</b></font></td>
<td nowrap="nowrap" style="padding-bottom: 1.5pt"> </td></tr>
<tr>
<td style="vertical-align: bottom; padding-bottom: 1.5pt"> </td>
<td style="vertical-align: bottom; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="vertical-align: bottom; border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 10pt"><b>2018</b></font></td>
<td nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 1.5pt"> </td>
<td style="vertical-align: bottom; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="vertical-align: bottom; border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 10pt"><b>2017</b></font></td>
<td nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 1.5pt"> </td>
<td colspan="3" style="vertical-align: top; border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 10pt"><b>2016</b></font></td>
<td nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 1.5pt"> </td></tr>
<tr style="vertical-align: bottom">
<td style="width: 58%; text-align: center"> </td>
<td style="width: 1%; text-align: center"> </td>
<td style="width: 1%; text-align: center"> </td>
<td style="width: 11%; text-align: center"><font style="font-size: 10pt">$ </font></td>
<td nowrap="nowrap" style="width: 1%; text-align: center"> </td>
<td style="width: 1%; text-align: center"> </td>
<td style="width: 1%; text-align: center"> </td>
<td style="width: 11%; text-align: center"><font style="font-size: 10pt">$ </font></td>
<td nowrap="nowrap" style="width: 1%; text-align: center"> </td>
<td style="width: 1%; text-align: center"> </td>
<td style="width: 1%; text-align: center"> </td>
<td style="width: 11%; text-align: center"><font style="font-size: 10pt">$ </font></td>
<td nowrap="nowrap" style="width: 1%; text-align: center"> </td></tr>
<tr style="vertical-align: bottom">
<td><font style="font-size: 10pt">Loss before income taxes arising in UK</font></td>
<td style="text-align: right"> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 10pt">(1,353,243</font></td>
<td nowrap="nowrap"><font style="font-size: 10pt">)</font></td>
<td style="text-align: right"> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 10pt">(1,251,870</font></td>
<td nowrap="nowrap"><font style="font-size: 10pt">)</font></td>
<td style="text-align: right"> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 10pt">(1,300,468</font></td>
<td nowrap="nowrap"><font style="font-size: 10pt">)</font></td></tr>
<tr style="vertical-align: bottom; background-color: white">
<td><font style="font-size: 10pt">Loss before income taxes arising in United States</font></td>
<td style="text-align: right"> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 10pt">(467,206</font></td>
<td nowrap="nowrap"><font style="font-size: 10pt">)</font></td>
<td style="text-align: right"> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 10pt">(299,396</font></td>
<td nowrap="nowrap"><font style="font-size: 10pt">)</font></td>
<td style="text-align: right"> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 10pt">(239,169</font></td>
<td nowrap="nowrap"><font style="font-size: 10pt">)</font></td></tr>
<tr style="vertical-align: bottom; background-color: #CCEEFF">
<td style="padding-bottom: 1.5pt"><font style="font-size: 10pt">Total loss before income tax</font></td>
<td style="padding-bottom: 1.5pt; text-align: right"> </td>
<td style="border-bottom: black 1.5pt solid"> </td>
<td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 10pt">(1,820,449</font></td>
<td nowrap="nowrap" style="padding-bottom: 1.5pt"><font style="font-size: 10pt">)</font></td>
<td style="padding-bottom: 1.5pt; text-align: right"> </td>
<td style="border-bottom: black 1.5pt solid"> </td>
<td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 10pt">(1,551,266</font></td>
<td nowrap="nowrap" style="padding-bottom: 1.5pt"><font style="font-size: 10pt">)</font></td>
<td style="padding-bottom: 1.5pt; text-align: right"> </td>
<td style="border-bottom: black 1.5pt solid"> </td>
<td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 10pt">(1,539,637</font></td>
<td nowrap="nowrap" style="padding-bottom: 1.5pt"><font style="font-size: 10pt">)</font></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0">Reconciliation of our effective tax rate to loss to the statutory
U.S federal tax rate is as follows:</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0"> </p>
<table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: bottom">
<td style="padding-bottom: 1.5pt"> </td>
<td style="padding-bottom: 1.5pt"> </td>
<td colspan="23" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 10pt"><b>Year ended March 31,</b></font></td></tr>
<tr style="vertical-align: bottom">
<td style="padding-bottom: 1.5pt; text-align: center"> </td>
<td style="padding-bottom: 1.5pt; text-align: center"> </td>
<td colspan="6" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 10pt">  <b>2018   </b></font></td>
<td nowrap="nowrap" style="padding-bottom: 1.5pt; text-align: center"> </td>
<td style="padding-bottom: 1.5pt; text-align: center"> </td>
<td style="border-bottom: black 1.5pt solid; text-align: center"> </td>
<td colspan="5" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 10pt"> <b>2017  </b></font></td>
<td nowrap="nowrap" style="padding-bottom: 1.5pt; text-align: center"> </td>
<td style="padding-bottom: 1.5pt; text-align: center"> </td>
<td style="border-bottom: black 1.5pt solid; text-align: center"> </td>
<td colspan="5" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 10pt"><b>2016   </b></font></td>
<td nowrap="nowrap" style="padding-bottom: 1.5pt; text-align: center"> </td></tr>
<tr>
<td style="vertical-align: bottom; padding-bottom: 1.5pt"> </td>
<td style="vertical-align: bottom; padding-bottom: 1.5pt; text-align: right"> </td>
<td style="vertical-align: bottom; border-bottom: black 1.5pt solid"> </td>
<td style="vertical-align: bottom; border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 10pt">$</font></td>
<td nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 1.5pt"> </td>
<td style="vertical-align: bottom; padding-bottom: 1.5pt; text-align: right"> </td>
<td colspan="2" style="vertical-align: bottom; border-bottom: black 1.5pt solid; text-align: right"> </td>
<td nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 1.5pt"> </td>
<td style="vertical-align: bottom; padding-bottom: 1.5pt; text-align: right"> </td>
<td style="vertical-align: bottom; border-bottom: black 1.5pt solid"> </td>
<td style="vertical-align: bottom; border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 10pt">$ </font></td>
<td nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 1.5pt"> </td>
<td colspan="3" style="vertical-align: bottom; border-bottom: black 1.5pt solid"> </td>
<td nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 1.5pt"> </td>
<td style="vertical-align: bottom; padding-bottom: 1.5pt; text-align: right"> </td>
<td style="vertical-align: bottom; border-bottom: black 1.5pt solid"> </td>
<td style="vertical-align: bottom; border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 10pt">$ </font></td>
<td nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 1.5pt"> </td>
<td colspan="3" style="vertical-align: top; border-bottom: black 1.5pt solid"> </td>
<td nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 1.5pt"> </td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: bottom"><font style="font-size: 10pt">Loss before income taxes</font></td>
<td style="vertical-align: bottom; text-align: right"> </td>
<td style="vertical-align: bottom"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">(1,820,449</font></td>
<td nowrap="nowrap" style="vertical-align: bottom"><font style="font-size: 10pt">)</font></td>
<td style="vertical-align: bottom; text-align: right"> </td>
<td colspan="2" style="vertical-align: bottom; text-align: right"> </td>
<td nowrap="nowrap" style="vertical-align: bottom"> </td>
<td style="vertical-align: bottom; text-align: right"> </td>
<td style="vertical-align: bottom"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">(1,551,266</font></td>
<td nowrap="nowrap" style="vertical-align: bottom"><font style="font-size: 10pt">)</font></td>
<td colspan="3" style="vertical-align: bottom"> </td>
<td nowrap="nowrap" style="vertical-align: bottom"> </td>
<td style="vertical-align: bottom; text-align: right"> </td>
<td style="vertical-align: bottom"> </td>
<td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">(1,539,637</font></td>
<td nowrap="nowrap" style="vertical-align: bottom"><font style="font-size: 10pt">)</font></td>
<td colspan="3" style="vertical-align: top"> </td>
<td nowrap="nowrap" style="vertical-align: bottom"> </td></tr>
<tr style="vertical-align: bottom; background-color: white">
<td style="width: 34%"><font style="font-size: 10pt">Expected tax benefit</font></td>
<td style="width: 1%; text-align: right"> </td>
<td style="width: 1%"> </td>
<td style="width: 9%; text-align: right"><font style="font-size: 10pt">(561,000</font></td>
<td nowrap="nowrap" style="width: 1%"><font style="font-size: 10pt">)</font></td>
<td style="width: 1%; text-align: right"> </td>
<td style="width: 1%"> </td>
<td style="width: 7%; text-align: right"><font style="font-size: 10pt">(31</font></td>
<td nowrap="nowrap" style="width: 1%"><font style="font-size: 10pt">%)</font></td>
<td style="width: 1%; text-align: right"> </td>
<td style="width: 1%"> </td>
<td style="width: 9%; text-align: right"><font style="font-size: 10pt">(527,000</font></td>
<td nowrap="nowrap" style="width: 1%"><font style="font-size: 10pt">)</font></td>
<td style="width: 1%; text-align: right"> </td>
<td style="width: 1%"> </td>
<td style="width: 7%; text-align: right"><font style="font-size: 10pt">(34</font></td>
<td nowrap="nowrap" style="width: 1%"><font style="font-size: 10pt">%)</font></td>
<td style="width: 1%; text-align: right"> </td>
<td style="width: 1%"> </td>
<td style="width: 9%; text-align: right"><font style="font-size: 10pt">(523,000</font></td>
<td nowrap="nowrap" style="width: 1%"><font style="font-size: 10pt">)</font></td>
<td style="width: 1%; text-align: right"> </td>
<td style="width: 1%"> </td>
<td style="width: 7%; text-align: right"><font style="font-size: 10pt">(34</font></td>
<td nowrap="nowrap" style="width: 1%"><font style="font-size: 10pt">%)</font></td></tr>
<tr style="vertical-align: bottom; background-color: #CCEEFF">
<td><font style="font-size: 10pt">Foreign tax differential</font></td>
<td style="text-align: right"> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 10pt">36,000</font></td>
<td nowrap="nowrap"> </td>
<td style="text-align: right"> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 10pt">2</font></td>
<td nowrap="nowrap"><font style="font-size: 10pt">%</font></td>
<td style="text-align: right"> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 10pt">217,000</font></td>
<td nowrap="nowrap"> </td>
<td style="text-align: right"> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 10pt">14</font></td>
<td nowrap="nowrap"><font style="font-size: 10pt">%</font></td>
<td style="text-align: right"> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 10pt">216,000</font></td>
<td nowrap="nowrap"> </td>
<td style="text-align: right"> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 10pt">14</font></td>
<td nowrap="nowrap"><font style="font-size: 10pt">%</font></td></tr>
<tr style="vertical-align: bottom; background-color: white">
<td><font style="font-size: 10pt">Enhanced research and development</font></td>
<td style="text-align: right"> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 10pt">(215,000</font></td>
<td nowrap="nowrap"><font style="font-size: 10pt">)</font></td>
<td style="text-align: right"> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 10pt">(12</font></td>
<td nowrap="nowrap"><font style="font-size: 10pt">%)</font></td>
<td style="text-align: right"> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 10pt">(198,000</font></td>
<td nowrap="nowrap"><font style="font-size: 10pt">)</font></td>
<td style="text-align: right"> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 10pt">(13</font></td>
<td nowrap="nowrap"><font style="font-size: 10pt">%)</font></td>
<td style="text-align: right"> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 10pt">(177,000</font></td>
<td nowrap="nowrap"><font style="font-size: 10pt">)</font></td>
<td style="text-align: right"> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 10pt">(11</font></td>
<td nowrap="nowrap"><font style="font-size: 10pt">%)</font></td></tr>
<tr style="vertical-align: bottom; background-color: #CCEEFF">
<td><font style="font-size: 10pt">Other</font></td>
<td style="text-align: right"> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 10pt">35,000</font></td>
<td nowrap="nowrap"> </td>
<td style="text-align: right"> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 10pt">2</font></td>
<td nowrap="nowrap"><font style="font-size: 10pt">%</font></td>
<td style="text-align: right"> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 10pt">-</font></td>
<td nowrap="nowrap"> </td>
<td style="text-align: right"> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 10pt">-</font></td>
<td nowrap="nowrap"> </td>
<td style="text-align: right"> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 10pt">-</font></td>
<td nowrap="nowrap"> </td>
<td style="text-align: right"> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 10pt">-</font></td>
<td nowrap="nowrap"> </td></tr>
<tr style="vertical-align: bottom; background-color: white">
<td style="padding-bottom: 1.5pt"><font style="font-size: 10pt">Change in valuation allowance</font></td>
<td style="padding-bottom: 1.5pt; text-align: right"> </td>
<td style="border-bottom: black 1.5pt solid"> </td>
<td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 10pt">705,000</font></td>
<td nowrap="nowrap" style="padding-bottom: 1.5pt"> </td>
<td style="padding-bottom: 1.5pt; text-align: right"> </td>
<td style="border-bottom: black 1.5pt solid"> </td>
<td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 10pt">39</font></td>
<td nowrap="nowrap" style="padding-bottom: 1.5pt"><font style="font-size: 10pt">%</font></td>
<td style="padding-bottom: 1.5pt; text-align: right"> </td>
<td style="border-bottom: black 1.5pt solid"> </td>
<td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 10pt">455,000</font></td>
<td nowrap="nowrap" style="padding-bottom: 1.5pt"> </td>
<td style="padding-bottom: 1.5pt; text-align: right"> </td>
<td style="border-bottom: black 1.5pt solid"> </td>
<td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 10pt">29</font></td>
<td nowrap="nowrap" style="padding-bottom: 1.5pt"><font style="font-size: 10pt">%</font></td>
<td style="padding-bottom: 1.5pt; text-align: right"> </td>
<td style="border-bottom: black 1.5pt solid"> </td>
<td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 10pt">484,000</font></td>
<td nowrap="nowrap" style="padding-bottom: 1.5pt"> </td>
<td style="padding-bottom: 1.5pt; text-align: right"> </td>
<td style="border-bottom: black 1.5pt solid"> </td>
<td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 10pt">31</font></td>
<td nowrap="nowrap" style="padding-bottom: 1.5pt"><font style="font-size: 10pt">%</font></td></tr>
<tr style="vertical-align: bottom; background-color: #CCEEFF">
<td style="padding-bottom: 1.5pt"><font style="font-size: 10pt">Actual income tax benefit</font></td>
<td style="padding-bottom: 1.5pt; text-align: right"> </td>
<td style="border-bottom: black 1.5pt solid"> </td>
<td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 10pt">-</font></td>
<td nowrap="nowrap" style="padding-bottom: 1.5pt"> </td>
<td style="padding-bottom: 1.5pt; text-align: right"> </td>
<td style="border-bottom: black 1.5pt solid"> </td>
<td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 10pt">-</font></td>
<td nowrap="nowrap" style="padding-bottom: 1.5pt"> </td>
<td style="padding-bottom: 1.5pt; text-align: right"> </td>
<td style="border-bottom: black 1.5pt solid"> </td>
<td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 10pt">-</font></td>
<td nowrap="nowrap" style="padding-bottom: 1.5pt"> </td>
<td style="padding-bottom: 1.5pt; text-align: right"> </td>
<td style="border-bottom: black 1.5pt solid"> </td>
<td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 10pt">-</font></td>
<td nowrap="nowrap" style="padding-bottom: 1.5pt"> </td>
<td style="padding-bottom: 1.5pt; text-align: right"> </td>
<td style="border-bottom: black 1.5pt solid"> </td>
<td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 10pt">-</font></td>
<td nowrap="nowrap" style="padding-bottom: 1.5pt"> </td>
<td style="padding-bottom: 1.5pt; text-align: right"> </td>
<td style="border-bottom: black 1.5pt solid"> </td>
<td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 10pt">-</font></td>
<td nowrap="nowrap" style="padding-bottom: 1.5pt"> </td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0">The tax effects of the temporary differences that give rise
to significant portions of deferred income tax assets are presented below:</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0"> </p>
<table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%">
<tr>
<td> </td>
<td colspan="3"> </td>
<td nowrap="nowrap" style="vertical-align: bottom"> </td>
<td colspan="3"> </td>
<td nowrap="nowrap" style="vertical-align: bottom"> </td></tr>
<tr style="vertical-align: bottom">
<td style="padding-bottom: 1.5pt"> </td>
<td colspan="7" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 10pt"><b>As of March 31,</b></font></td>
<td nowrap="nowrap" style="padding-bottom: 1.5pt"> </td></tr>
<tr style="vertical-align: bottom">
<td style="padding-bottom: 1.5pt"> </td>
<td colspan="3" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 10pt"><b>2018</b></font></td>
<td nowrap="nowrap" style="padding-bottom: 1.5pt"> </td>
<td colspan="3" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 10pt"><b>2017</b></font></td>
<td nowrap="nowrap" style="padding-bottom: 1.5pt"> </td></tr>
<tr style="vertical-align: bottom; background-color: #CCEEFF">
<td style="width: 72%; padding-bottom: 1.5pt"> </td>
<td style="width: 1%; padding-bottom: 1.5pt; text-align: right"> </td>
<td style="width: 1%; border-bottom: black 1.5pt solid"><font style="font-size: 10pt">$</font></td>
<td style="width: 11%; border-bottom: black 1.5pt solid; text-align: right"> </td>
<td nowrap="nowrap" style="width: 1%; padding-bottom: 1.5pt"> </td>
<td style="width: 1%; padding-bottom: 1.5pt; text-align: right"> </td>
<td style="width: 1%; border-bottom: black 1.5pt solid"><font style="font-size: 10pt">$</font></td>
<td style="width: 11%; border-bottom: black 1.5pt solid; text-align: right"> </td>
<td nowrap="nowrap" style="width: 1%; padding-bottom: 1.5pt"> </td></tr>
<tr style="vertical-align: bottom; background-color: white">
<td><font style="font-size: 10pt">Net operating tax loss carried forwards</font></td>
<td style="text-align: right"> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 10pt">2,229,000</font></td>
<td nowrap="nowrap"> </td>
<td style="text-align: right"> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 10pt">1,818,000</font></td>
<td nowrap="nowrap"> </td></tr>
<tr style="vertical-align: bottom; background-color: #CCEEFF">
<td style="padding-bottom: 1.5pt"><font style="font-size: 10pt">Valuation allowance</font></td>
<td style="padding-bottom: 1.5pt; text-align: right"> </td>
<td style="border-bottom: black 1.5pt solid"> </td>
<td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 10pt">(2,229,000</font></td>
<td nowrap="nowrap" style="padding-bottom: 1.5pt"><font style="font-size: 10pt">)</font></td>
<td style="padding-bottom: 1.5pt; text-align: right"> </td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="padding-bottom: 1.5pt; text-align: right"><font style="font-size: 10pt">(1,818,000</font></td>
<td nowrap="nowrap" style="padding-bottom: 1.5pt"><font style="font-size: 10pt">)</font></td></tr>
<tr style="vertical-align: bottom; background-color: white">
<td style="padding-bottom: 3pt"><font style="font-size: 10pt">Net deferred tax assets</font></td>
<td style="padding-bottom: 3pt; text-align: right"> </td>
<td style="border-bottom: black 2.25pt double"> </td>
<td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 10pt">-</font></td>
<td nowrap="nowrap" style="padding-bottom: 3pt"> </td>
<td style="padding-bottom: 3pt; text-align: right"> </td>
<td style="border-bottom: black 2.25pt double"> </td>
<td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 10pt">-</font></td>
<td nowrap="nowrap" style="padding-bottom: 3pt"> </td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0">The following is a summary of consolidated quarterly financial
information: </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0"> </p>
<table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%">
<tr>
<td colspan="16"> </td>
<td nowrap="nowrap" style="vertical-align: bottom"> </td></tr>
<tr>
<td> </td>
<td> </td>
<td colspan="2"> </td>
<td nowrap="nowrap" style="vertical-align: bottom"> </td>
<td> </td>
<td colspan="2"> </td>
<td nowrap="nowrap" style="vertical-align: bottom"> </td>
<td> </td>
<td colspan="2"> </td>
<td nowrap="nowrap" style="vertical-align: bottom"> </td>
<td> </td>
<td colspan="2"> </td>
<td nowrap="nowrap" style="vertical-align: bottom"> </td></tr>
<tr style="vertical-align: bottom">
<td style="padding-bottom: 1.5pt; text-align: center"> </td>
<td colspan="15" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 10pt"><b>Quarter Ended</b></font></td>
<td nowrap="nowrap" style="padding-bottom: 1.5pt"> </td></tr>
<tr style="vertical-align: bottom">
<td style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 10pt"><b>2018</b></font></td>
<td colspan="3" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 10pt"><b>June 30</b></font></td>
<td nowrap="nowrap" style="padding-bottom: 1.5pt"> </td>
<td colspan="3" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 10pt"><b>Sept. 30</b></font></td>
<td nowrap="nowrap" style="padding-bottom: 1.5pt"> </td>
<td colspan="3" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 10pt"><b>Dec. 31</b></font></td>
<td nowrap="nowrap" style="padding-bottom: 1.5pt"> </td>
<td colspan="3" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 10pt"><b>March 31</b></font></td>
<td nowrap="nowrap" style="padding-bottom: 1.5pt"> </td></tr>
<tr style="vertical-align: bottom; background-color: #CCEEFF">
<td style="width: 44%"><font style="font-size: 10pt">Total revenue</font></td>
<td style="width: 1%; text-align: right"> </td>
<td style="width: 1%"><font style="font-size: 10pt">$</font></td>
<td style="width: 11%; text-align: right"><font style="font-size: 10pt">-</font></td>
<td nowrap="nowrap" style="width: 1%"> </td>
<td style="width: 1%; text-align: right"> </td>
<td style="width: 1%"><font style="font-size: 10pt">$</font></td>
<td style="width: 11%; text-align: right"><font style="font-size: 10pt">-</font></td>
<td nowrap="nowrap" style="width: 1%"> </td>
<td style="width: 1%; text-align: right"> </td>
<td style="width: 1%"><font style="font-size: 10pt">$</font></td>
<td style="width: 11%; text-align: right"><font style="font-size: 10pt">-</font></td>
<td nowrap="nowrap" style="width: 1%"> </td>
<td style="width: 1%; text-align: right"> </td>
<td style="width: 1%"><font style="font-size: 10pt">$</font></td>
<td style="width: 11%; text-align: right"><font style="font-size: 10pt">-</font></td>
<td nowrap="nowrap" style="width: 1%"> </td></tr>
<tr style="vertical-align: bottom; background-color: white">
<td><font style="font-size: 10pt">Loss from operations</font></td>
<td style="text-align: right"> </td>
<td><font style="font-size: 10pt">$</font></td>
<td style="text-align: right"><font style="font-size: 10pt">(417,320</font></td>
<td nowrap="nowrap"><font style="font-size: 10pt">)</font></td>
<td style="text-align: right"> </td>
<td><font style="font-size: 10pt">$</font></td>
<td style="text-align: right"><font style="font-size: 10pt">(447,516</font></td>
<td nowrap="nowrap"><font style="font-size: 10pt">)</font></td>
<td style="text-align: right"> </td>
<td><font style="font-size: 10pt">$</font></td>
<td style="text-align: right"><font style="font-size: 10pt">(476,353</font></td>
<td nowrap="nowrap"><font style="font-size: 10pt">)</font></td>
<td style="text-align: right"> </td>
<td><font style="font-size: 10pt">$</font></td>
<td style="text-align: right"><font style="font-size: 10pt">(567,776</font></td>
<td nowrap="nowrap"><font style="font-size: 10pt">)</font></td></tr>
<tr style="vertical-align: bottom; background-color: #CCEEFF">
<td><font style="font-size: 10pt">Net loss</font></td>
<td style="text-align: right"> </td>
<td><font style="font-size: 10pt">$</font></td>
<td style="text-align: right"><font style="font-size: 10pt">(407,787</font></td>
<td nowrap="nowrap"><font style="font-size: 10pt">)</font></td>
<td style="text-align: right"> </td>
<td><font style="font-size: 10pt">$</font></td>
<td style="text-align: right"><font style="font-size: 10pt">(393,031</font></td>
<td nowrap="nowrap"><font style="font-size: 10pt">)</font></td>
<td style="text-align: right"> </td>
<td><font style="font-size: 10pt">$</font></td>
<td style="text-align: right"><font style="font-size: 10pt">(466,365</font></td>
<td nowrap="nowrap"><font style="font-size: 10pt">)</font></td>
<td style="text-align: right"> </td>
<td><font style="font-size: 10pt">$</font></td>
<td style="text-align: right"><font style="font-size: 10pt">(553,266</font></td>
<td nowrap="nowrap"><font style="font-size: 10pt">)</font></td></tr>
<tr style="vertical-align: bottom; background-color: white">
<td><font style="font-size: 10pt">Basic and diluted loss per share</font></td>
<td style="text-align: right"> </td>
<td><font style="font-size: 10pt">$</font></td>
<td style="text-align: right"><font style="font-size: 10pt">*</font></td>
<td nowrap="nowrap"> </td>
<td style="text-align: right"> </td>
<td><font style="font-size: 10pt">$</font></td>
<td style="text-align: right"><font style="font-size: 10pt">*</font></td>
<td nowrap="nowrap"> </td>
<td style="text-align: right"> </td>
<td><font style="font-size: 10pt">$</font></td>
<td style="text-align: right"><font style="font-size: 10pt">*</font></td>
<td nowrap="nowrap"> </td>
<td style="text-align: right"> </td>
<td><font style="font-size: 10pt">$</font></td>
<td style="text-align: right"><font style="font-size: 10pt">*</font></td>
<td nowrap="nowrap"> </td></tr>
<tr style="vertical-align: bottom; background-color: #CCEEFF">
<td><font style="font-size: 10pt">Weighted average number of shares outstanding</font></td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 10pt">205,000,000</font></td>
<td nowrap="nowrap"> </td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 10pt">205,000,000</font></td>
<td nowrap="nowrap"> </td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 10pt">121,411,478</font></td>
<td nowrap="nowrap"> </td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 10pt">150,070,400</font></td>
<td nowrap="nowrap"> </td></tr>
<tr style="vertical-align: bottom; background-color: white">
<td> </td>
<td> </td>
<td style="text-align: right"> </td>
<td nowrap="nowrap"> </td>
<td> </td>
<td> </td>
<td style="text-align: right"> </td>
<td nowrap="nowrap"> </td>
<td> </td>
<td> </td>
<td style="text-align: right"> </td>
<td nowrap="nowrap"> </td>
<td> </td>
<td> </td>
<td style="text-align: right"> </td>
<td nowrap="nowrap"> </td>
<td> </td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0"> </p>
<table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: bottom">
<td style="padding-bottom: 1.5pt; text-align: center"> </td>
<td style="padding-bottom: 1.5pt"> </td>
<td colspan="14" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 10pt"><b>Quarter Ended</b></font></td>
<td nowrap="nowrap" style="padding-bottom: 1.5pt"> </td></tr>
<tr style="vertical-align: bottom">
<td style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 10pt"><b>2017</b></font></td>
<td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 10pt"><b>June 30</b></font></td>
<td nowrap="nowrap" style="padding-bottom: 1.5pt"> </td>
<td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 10pt"><b>Sept. 30</b></font></td>
<td nowrap="nowrap" style="padding-bottom: 1.5pt"> </td>
<td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 10pt"><b>Dec. 31</b></font></td>
<td nowrap="nowrap" style="padding-bottom: 1.5pt"> </td>
<td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 10pt"><b>March 31</b></font></td>
<td nowrap="nowrap" style="padding-bottom: 1.5pt"> </td></tr>
<tr style="vertical-align: bottom; background-color: #CCEEFF">
<td style="width: 44%"><font style="font-size: 10pt">Total revenue</font></td>
<td style="width: 1%; text-align: right"> </td>
<td style="width: 1%"><font style="font-size: 10pt">$</font></td>
<td style="width: 11%; text-align: right"><font style="font-size: 10pt">-</font></td>
<td nowrap="nowrap" style="width: 1%"> </td>
<td style="width: 1%; text-align: right"> </td>
<td style="width: 1%"><font style="font-size: 10pt">$</font></td>
<td style="width: 11%; text-align: right"><font style="font-size: 10pt">-</font></td>
<td nowrap="nowrap" style="width: 1%"> </td>
<td style="width: 1%; text-align: right"> </td>
<td style="width: 1%"><font style="font-size: 10pt">$</font></td>
<td style="width: 11%; text-align: right"><font style="font-size: 10pt">-</font></td>
<td nowrap="nowrap" style="width: 1%"> </td>
<td style="width: 1%; text-align: right"> </td>
<td style="width: 1%"><font style="font-size: 10pt">$</font></td>
<td style="width: 11%; text-align: right"><font style="font-size: 10pt">-</font></td>
<td nowrap="nowrap" style="width: 1%"> </td></tr>
<tr style="vertical-align: bottom; background-color: white">
<td><font style="font-size: 10pt">Loss from operations</font></td>
<td style="text-align: right"> </td>
<td><font style="font-size: 10pt">$</font></td>
<td style="text-align: right"><font style="font-size: 10pt">(494,183</font></td>
<td nowrap="nowrap"><font style="font-size: 10pt">)</font></td>
<td style="text-align: right"> </td>
<td><font style="font-size: 10pt">$</font></td>
<td style="text-align: right"><font style="font-size: 10pt">(322,482</font></td>
<td nowrap="nowrap"><font style="font-size: 10pt">)</font></td>
<td style="text-align: right"> </td>
<td><font style="font-size: 10pt">$</font></td>
<td style="text-align: right"><font style="font-size: 10pt">(375,366</font></td>
<td nowrap="nowrap"><font style="font-size: 10pt">)</font></td>
<td style="text-align: right"> </td>
<td><font style="font-size: 10pt">$</font></td>
<td style="text-align: right"><font style="font-size: 10pt">(359,235</font></td>
<td nowrap="nowrap"><font style="font-size: 10pt">)</font></td></tr>
<tr style="vertical-align: bottom; background-color: #CCEEFF">
<td><font style="font-size: 10pt">Net loss</font></td>
<td style="text-align: right"> </td>
<td><font style="font-size: 10pt">$</font></td>
<td style="text-align: right"><font style="font-size: 10pt">(494,183</font></td>
<td nowrap="nowrap"><font style="font-size: 10pt">)</font></td>
<td style="text-align: right"> </td>
<td><font style="font-size: 10pt">$</font></td>
<td style="text-align: right"><font style="font-size: 10pt">(322,482</font></td>
<td nowrap="nowrap"><font style="font-size: 10pt">)</font></td>
<td style="text-align: right"> </td>
<td><font style="font-size: 10pt">$</font></td>
<td style="text-align: right"><font style="font-size: 10pt">(375,366</font></td>
<td nowrap="nowrap"><font style="font-size: 10pt">)</font></td>
<td style="text-align: right"> </td>
<td><font style="font-size: 10pt">$</font></td>
<td style="text-align: right"><font style="font-size: 10pt">(359,235</font></td>
<td nowrap="nowrap"><font style="font-size: 10pt">)</font></td></tr>
<tr style="vertical-align: bottom; background-color: white">
<td><font style="font-size: 10pt">Basic and diluted loss per share</font></td>
<td style="text-align: right"> </td>
<td><font style="font-size: 10pt">$</font></td>
<td style="text-align: right"><font style="font-size: 10pt">*</font></td>
<td nowrap="nowrap"> </td>
<td style="text-align: right"> </td>
<td><font style="font-size: 10pt">$</font></td>
<td style="text-align: right"><font style="font-size: 10pt">*</font></td>
<td nowrap="nowrap"> </td>
<td style="text-align: right"> </td>
<td><font style="font-size: 10pt">$</font></td>
<td style="text-align: right"><font style="font-size: 10pt">*</font></td>
<td nowrap="nowrap"> </td>
<td style="text-align: right"> </td>
<td><font style="font-size: 10pt">$</font></td>
<td style="text-align: right"><font style="font-size: 10pt">*</font></td>
<td nowrap="nowrap"> </td></tr>
<tr style="vertical-align: bottom; background-color: #CCEEFF">
<td><font style="font-size: 10pt">Weighted average number of shares outstanding</font></td>
<td style="text-align: right"> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 10pt">205,000,000</font></td>
<td nowrap="nowrap"> </td>
<td style="text-align: right"> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 10pt">205,000,000</font></td>
<td nowrap="nowrap"> </td>
<td style="text-align: right"> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 10pt">205,000,000</font></td>
<td nowrap="nowrap"> </td>
<td style="text-align: right"> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 10pt">205,000,000</font></td>
<td nowrap="nowrap"> </td></tr>
<tr style="vertical-align: bottom; background-color: white">
<td> </td>
<td nowrap="nowrap"> </td>
<td nowrap="nowrap"> </td>
<td nowrap="nowrap" style="text-align: right"> </td>
<td nowrap="nowrap"> </td>
<td nowrap="nowrap"> </td>
<td nowrap="nowrap"> </td>
<td nowrap="nowrap" style="text-align: right"> </td>
<td nowrap="nowrap"> </td>
<td nowrap="nowrap"> </td>
<td nowrap="nowrap"> </td>
<td nowrap="nowrap" style="text-align: right"> </td>
<td nowrap="nowrap"> </td>
<td nowrap="nowrap"> </td>
<td nowrap="nowrap"> </td>
<td nowrap="nowrap" style="text-align: right"> </td>
<td nowrap="nowrap"> </td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0">* less than $0.01</p>
822335
911359
9403965
354749
4911551
1867950
187139
51086
77508
0
5998533
2830395
5770
9161
251099
203800
256869
212961
0
4358550
6255402
7401906
49912
77530
613818
687609
147579
87232
811309
852371
1333128
1183035
1333128
1183035
2144437
2035406
137
0
67676
205000
13056859
12919672
-8973082
-7152633
-40625
-605539
4110965
5366500
6255402
7401906
0.001
200000
137324
0.001
0.001
420000000
420000000
67676000
205000000
67676000
205000000
0
0
0
0
0
0
0
0
0
0
0
993833
1034605
1028224
842739
577481
331714
915132
516661
511413
1908965
1551266
1539637
-1908965
-1551266
-1539637
-567776
-359235
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0
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-494183
-466365
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564914
-760999
135813
-1255535
-2312265
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-0.01
-0.01
-0.01
-0.01
-0.01
-0.01
-0.01
-0.01
-0.01
-0.01
-0.01
150070400
205000000
201726027
150070400
205000000
205000000
205000000
205000000
205000000
121411478
205000000
4110965
5366500
7678765
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205000
67676
200000
12919672
13056859
2924672
-5601367
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-4061730
155460
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19647
205000
12919672
-7152633
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137
10000000
5000
9995000
564914
-760999
135813
-760999
564914
135813
-137324
137187
137
-1820449
-1551266
-1539637
29256
20433
17404
138859
-85367
-224392
0
0
249459
-31247
2522
-31279
-162644
270975
0
60407
-20859
-129704
-73441
0
0
-2136977
-1192828
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0
0
0
45260
73070
78197
0
6519
9367
-1994475
6226500
0
1949215
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0
0
10000000
0
0
-299434
0
0
10299434
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9002505
98738
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46711
0
0
23428
822000
4900000
1.3305
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1.3146
1.2453
1.4318
1.5224
4900000
0
0
0
10000000
10000000
10000000
137324000
137324000
137324000
137324000
137324
<p style="margin: 0pt"><font style="font-size: 10pt">Each share of Series A Convertible Preferred Stock is convertible into 1,000
shares of the Company’s common stock.</font></p>
137324000
1403000
1245000
70000
18213
16163
12443
7002
323987
244457
72888
40657
22000
22000
22000
22000
22000
-613818
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192484
0
0
58197
-145214
-2480
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0
0
-247596
-842739
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-331714
0
15305
16307
1096767
249060
0
19889
42403
0
0
0
17775
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79729
28763
-1353243
-1251870
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-1820449
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-1539637
-561000
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36000
217000
216000
215000
198000
177000
35000
0
0
705000
455000
484000
0
0
0
0.31
0.34
0.34
0.34
0.19
0.02
0.14
0.14
-0.12
-0.13
-0.11
0.39
0.29
0.31
0.00
0.00
0.00
2229000
1818000
2229000
1818000
0
0
1400000
7100000
5000000
10000000
10000000
0.50
0.02
.00
0.00