v3.21.2
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
3 Months Ended
Jun. 30, 2021
Jun. 30, 2020
CASH FLOWS FROM OPERATING ACTIVITIES    
Net loss $ (7,425,626) $ (3,021,003)
Adjustments to reconcile net loss to net cash used in operating activities    
Depreciation expense 159,015 227,911
Shares issue and vested, options and RSU amortized for employee and non-employee services 2,918,680 1,149,259
Right-of-use asset amortization 5,084 (2,200)
Changes in operating assets and liabilities:    
Accounts receivable 236,803 295,467
Inventory (629,855) 25,498
Prepaid expenses and other current assets (2,028,928) (116,358)
Accounts payable 653,199 (25,440)
Accrued expenses 56,315 61,195
NET CASH USED IN OPERATING ACTIVITIES (6,055,313) (1,405,671)
CASH FLOWS FROM INVESTING ACTIVITIES    
Purchase of fixed assets (61,444) (68,519)
CASH USED IN INVESTING ACTIVITIES (61,444) (68,519)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from (repayment of) revolving financing 782,699 (3,015,907)
Proceeds from promissory note payable 0 325,800
Proceeds from sale of common stock, net 0 2,900,000
Proceeds from stock payable 0 1,999,998
Proceeds for the exercise of warrants, net 652,777 258,899
Proceeds for the exercise of stock options 48,230 61,480
CASH PROVIDED BY FINANCING ACTIVITIES 1,483,706 2,530,270
NET CHANGE IN CASH (4,633,051) 1,056,080
CASH AT BEGINNING OF PERIOD 9,130,956 4,561,682
CASH AT END OF PERIOD 4,497,905 5,617,762
INTEREST PAID 105,197 164,101
TAXES PAID $ 0 $ 0

Source