Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
|
9 Months Ended |
Dec. 31, 2020 |
Dec. 31, 2019 |
| Cash Flows From Operating Activities: |
|
|
| Net loss |
$ (4,127,970)
|
$ (2,813,312)
|
| Adjustments to reconcile net loss to net cash used in operating activities: |
|
|
| Depreciation and Amortization |
68,310
|
47,550
|
| Accretion of debt discount |
920,648
|
0
|
| Stock Based Compensation |
84,000
|
317,664
|
| Changes in assets and liabilities: |
|
|
| Prepaid expenses and other receivables |
(397,926)
|
206,716
|
| Inventory |
(531,927)
|
(186,137)
|
| Accounts payable |
(126,910)
|
21,259
|
| Liability due to related party |
(434,170)
|
(268,483)
|
| Other liabilities and accrued expenses |
(92,819)
|
110,780
|
| Net cash used in operating activities |
(4,638,764)
|
(2,563,963)
|
| Cash Flows from Investing Activities: |
|
|
| Capitalized patent costs |
(48,273)
|
(50,570)
|
| Software development costs in process |
(446,455)
|
0
|
| Purchase of property and equipment |
(70,547)
|
(162,615)
|
| Net cash (used in) provided by investing activities |
(565,275)
|
(213,185)
|
| Cash Flows from Financing Activities: |
|
|
| Costs incurred in relation to equity financing |
(957,193)
|
(9,575)
|
| Commission paid on note payable |
(325,000)
|
0
|
| Proceeds from issuance of notes |
5,000,000
|
0
|
| Proceeds from issuance of common stock in relation to equity financing |
15,750,672
|
152,492
|
| Proceeds from warrant exercise |
394,475
|
26,000
|
| Repayments of note payable |
(300,000)
|
0
|
| Repayment of insurance financing |
(82,555)
|
(28,207)
|
| Net cash provided by financing activities |
19,480,399
|
140,710
|
| Net increase / (decrease) in cash |
14,276,360
|
(2,636,438)
|
| Effect of exchange rate changes on cash |
577,318
|
(36,563)
|
| Cash at beginning of period |
106,107
|
3,740,664
|
| Cash at end of period |
14,959,785
|
1,067,663
|
| Supplemental disclosure of non-cash financing activities: |
|
|
| Gross amount of insurance funded through note payable |
0
|
132,352
|
| Licenses acquired through issuance of restricted common stock |
$ 100,000
|
$ 0
|