Consolidated Balance Sheets - USD ($)
Mar. 31, 2023
Mar. 31, 2022
Current assets:    
Cash $ 10,105,135 $ 17,749,233
Inventory, net 1,754,852 1,487,771
Prepaid expenses and other current assets 357,934 495,055
VAT receivable 409,648 255,112
Deposit on foreign exchange contract 909,666 0
Receivable from related parties 0 101,297
Total current assets 13,537,235 20,088,468
Property and equipment, net of accumulated depreciation 641,906 532,508
Intangible assets, net of accumulated amortization 384,092 1,480,980
Total assets 14,563,233 22,101,956
Current liabilities:    
Accounts payable 326,641 136,310
Accrued expenses and other liabilities 130,678 558,426
Notes payable, current portion 16,942,500 19,188,724
Payable to related parties 920,780 0
Deferred revenue, current portion 123,640 259,256
Foreign exchange contract derivative liability 731,730 440,196
Warrant liability 3,092,000 0
Total current liabilities 22,267,969 20,582,912
Notes payable, non-current portion 3,087,651 0
Deferred revenue, non-current portion 1,021,811 1,052,960
Total liabilities 26,377,431 21,635,872
Commitments and contingencies
Stockholders’ equity (deficit):    
Common stock, par value $0.001 – authorized: 42,000,000 shares; issued and outstanding: 28,899,402 and 24,102,866 as of March 31, 2023 and 2022, respectively 28,899 24,103
Additional paid-in capital 40,991,377 38,295,775
Accumulated deficit (51,875,211) (37,731,476)
Accumulated other comprehensive (loss) income (959,263) (122,318)
Total stockholders’ equity (deficit) (11,814,198) 466,084
Total liabilities and stockholders’ equity (deficit) $ 14,563,233 $ 22,101,956