Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
|
9 Months Ended |
Dec. 31, 2017 |
Dec. 31, 2016 |
| Cash Flows from Operating Activities: |
|
|
| Net loss |
$ (1,267,184)
|
$ (1,192,031)
|
| Adjustments to reconcile net loss to net cash used in operating activities: |
|
|
| Depreciation and Amortization |
22,467
|
15,629
|
| Changes in assets and liabilities: |
|
|
| Prepaid expenses and other receivables |
(63,405)
|
69,121
|
| Accounts payable |
37,701
|
(20,584)
|
| Liability due to related party |
77,654
|
423,237
|
| Other liabilities and accrued expenses |
(9,833)
|
0
|
| Interest receivable |
(58,504)
|
0
|
| Net cash used in operating activities |
(1,261,104)
|
(704,628)
|
| Cash Flows From Investing Activities: |
|
|
| Purchase of intangible assets |
(29,732)
|
(57,630)
|
| Purchase of property and equipment |
0
|
(6,641)
|
| Proceeds from fixed rate savings account |
1,955,489
|
0
|
| Net cash provided by (used in) investing activities |
1,925,757
|
(64,271)
|
| Net increase/(decrease) in cash |
664,653
|
(768,899)
|
| Effect of exchange rate changes on cash |
88,604
|
(1,041,712)
|
| Cash at beginning of period |
911,359
|
9,403,965
|
| Cash at end of period |
$ 1,664,616
|
$ 7,593,354
|