Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
|
3 Months Ended |
Jun. 30, 2019 |
Jun. 30, 2018 |
| Cash Flows From Operating Activities: |
|
|
| Net loss |
$ (1,251,265)
|
$ (763,154)
|
| Adjustments to reconcile net loss to net cash used in operating activities: |
|
|
| Depreciation and Amortization |
11,048
|
6,776
|
| Stock Based Compensation |
162,254
|
0
|
| Changes in assets and liabilities: |
|
|
| Prepaid expenses and other receivables |
197,131
|
(119,909)
|
| Inventory |
(1,471)
|
0
|
| Accounts payable |
16,886
|
92,470
|
| Liability due to related party |
135,950
|
199,193
|
| Other liabilities and accrued expenses |
37,309
|
152,976
|
| Accrued interest receivable |
0
|
(8,809)
|
| Net cash used in operating activities |
(692,158)
|
(440,457)
|
| Cash Flows from Investing Activities: |
|
|
| Capitalized patent costs |
(10,893)
|
(9,865)
|
| Purchase of property and equipment |
(76,691)
|
0
|
| Net cash used in investing activities |
(87,584)
|
(9,865)
|
| Cash Flows from Financing Activities: |
|
|
| Costs incurred in relation to ATM equity financing |
(9,575)
|
0
|
| Gross proceeds from issuance of common stock in relation to ATM financing |
152,493
|
0
|
| Gross proceeds from warrant exercise |
26,000
|
0
|
| Net cash provided by financing activities |
168,918
|
0
|
| Net decrease in cash |
(610,824)
|
(450,322)
|
| Effect of exchange rate changes on cash |
(61,299)
|
(52,021)
|
| Cash at beginning of year |
3,740,664
|
822,335
|
| Cash at end of year |
3,068,541
|
319,992
|
| Supplemental disclosure of non-cash financing activities: |
|
|
| Conversion of Series A preferred stock to common stock |
0
|
137,324
|
| Prepayment of equity compensation |
$ 103,034
|
$ 0
|