Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
|
9 Months Ended |
Dec. 31, 2022 |
Dec. 31, 2021 |
| Cash Flows From Operating Activities: |
|
|
| Net loss |
$ (9,460,888)
|
$ (10,269,557)
|
| Adjustments to reconcile net loss to net cash used in operating activities: |
|
|
| Depreciation and amortization |
268,595
|
139,751
|
| Amortization of debt discount |
4,152,437
|
5,141,701
|
| Change in fair value of foreign currency contract |
635,494
|
199,522
|
| Changes in assets and liabilities: |
|
|
| Prepaid expenses and other receivables |
(467,070)
|
797,155
|
| Inventory |
(864,636)
|
(533,656)
|
| Accounts payable |
34,897
|
(77,075)
|
| Due to (from) related parties |
75,977
|
(301,387)
|
| Other liabilities and accrued expenses |
(167,568)
|
264,786
|
| Deferred revenue |
(297,419)
|
285,266
|
| Net cash used in operating activities |
(6,090,181)
|
(4,353,494)
|
| Cash Flows From Investing Activities: |
|
|
| Capitalized patent costs |
(135,168)
|
(60,241)
|
| Capitalized software development costs |
(27,879)
|
(460,466)
|
| Purchase of property and equipment |
(275,758)
|
(359,301)
|
| Net cash used in investing activities |
(438,805)
|
(880,008)
|
| Cash Flows From Financing Activities: |
|
|
| Proceeds from issuance of common stock |
696
|
118,791
|
| Equity issuance cost paid |
(273)
|
(4,382)
|
| Proceeds from issuance of notes payable |
4,700,000
|
0
|
| Proceeds from warrant exercise |
0
|
2,963,658
|
| Repayments of note payable |
(7,974,282)
|
(6,500,000)
|
| Net cash used in financing activities |
(3,273,859)
|
(3,421,933)
|
| Effect of exchange rate changes on cash |
(605,548)
|
(163,658)
|
| Net decrease in cash |
(10,408,393)
|
(8,819,093)
|
| Cash at beginning of period |
17,749,233
|
31,865,371
|
| Cash at end of period |
7,340,840
|
23,046,278
|
| Supplemental disclosure of non-cash financing activities: |
|
|
| Release of prepayment from equity compensation |
0
|
50,000
|
| Monitoring fees related to notes payable |
$ 1,522,372
|
$ 0
|