v3.21.2
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
12 Months Ended
Mar. 31, 2021
Mar. 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES    
Net loss $ (16,409,520) $ (14,826,821)
Adjustments to reconcile net loss to net cash used in operating activities    
Depreciation expense 997,791 1,011,241
Stock compensation expense 3,725,463 1,591,555
Right-of-use asset amortization 4,578 11,996
Changes in operating assets and liabilities:    
Accounts receivable (3,541,095) (1,848,900)
Inventory (1,487,860) (861,848)
Prepaid expenses and other current assets 659,238 (1,318,500)
Accounts payable 1,648,807 2,507,583
Accrued expenses 122,360 91,058
NET CASH USED IN OPERATING ACTIVITIES (14,280,238) (13,642,636)
CASH FLOWS FROM INVESTING ACTIVITIES    
Purchase of fixed assets (585,393) (488,557)
CASH USED IN INVESTING ACTIVITIES (585,393) (488,557)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from (repayment of) revolving financing (2,966,805) 4,159,938
Proceeds from promissory note payable 325,800  
Proceeds from sale of common stock, net 14,899,545  
Proceeds from stock payable   1,000,000
Proceeds for the exercise of warrants, net 7,114,886 2,500,486
Proceeds for the exercise of stock options 61,479  
CASH PROVIDED BY FINANCING ACTIVITIES 19,434,905 7,660,424
NET CHANGE IN CASH 4,569,274 (6,470,769)
CASH AT BEGINNING OF PERIOD 4,561,682 11,032,451
CASH AT END OF PERIOD 9,130,956 4,561,682
INTEREST PAID 526,724 350,327
TAXES PAID 0 0
SUPPLEMENTAL DISCLOSURE of NON-CASH INVESTING and FINANCING ACTIVITIES    
OPERATING LEASE RIGHT OF USE ASSET 646,550 0
OPERATING LEASE LIABILITY 653,827 $ 0
ISSUANCE OF COMMON SHARES TO SETTLE STOCK PAYABLE $ 1,000,000  

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