CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
|
9 Months Ended |
Dec. 31, 2015 |
Dec. 31, 2014 |
| Cash Flows From Operating Activities: |
|
|
| Net loss |
$ (1,121,918)
|
$ (783,901)
|
| Adjustments to reconcile net loss to net cash used in operating activities: |
|
|
| Depreciation and Amortization |
12,448
|
5,536
|
| Changes in assets and liabilities: |
|
|
| Prepaid expenses and other receivables |
93,889
|
(21,721)
|
| Accounts payable and other liabilities |
77,904
|
49,035
|
| Prepayment to related party for clinical trials |
249,459
|
(494,491)
|
| Net cash used in operating activities |
(688,218)
|
(1,245,542)
|
| Cash Flows from Investing Activities: |
|
|
| Decrease in restricted cash |
0
|
85,462
|
| Purchase of property and equipment |
(5,606)
|
(57,222)
|
| Purchase of intangible assets |
(50,334)
|
(7,181)
|
| Net Cash used in investing activities |
(55,940)
|
21,059
|
| Cash Flows From Financing Activities: |
|
|
| Advances from related party |
239,717
|
0
|
| Net proceeds from issuance of common stock |
10,000,000
|
0
|
| Net cash provided by financing activities |
10,239,717
|
0
|
| Net increase (decrease) in cash |
9,495,559
|
(1,224,483)
|
| Effect of exchange rate changes on cash |
988
|
(35,050)
|
| Cash at beginning of period |
354,749
|
1,873,141
|
| Cash at end of period |
$ 9,851,306
|
$ 613,608
|