Annual report pursuant to Section 13 and 15(d)

CASH FLOWS

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CASH FLOWS
12 Months Ended
Mar. 31, 2019
Supplemental Cash Flow Elements [Abstract]  
CASH FLOWS [Text Blcok]

NOTE 2 – CASH FLOWS

The accompanying financial statements have been prepared assuming that the Company will continue as a going concern, which contemplates realization of assets and satisfaction of liabilities in the normal course of business. Since its inception, the Company has been engaged substantially in financing activities, developing its business plan and building its initial customer and distribution base for its products. As a result, the Company incurred accumulated net losses from Inception (June 19, 2012) through the period ended March 31, 2020 of ($53,521,700). In addition, the Company's development activities since inception have been financially sustained through debt and equity financing.

 

We have not yet established an ongoing source of revenues sufficient to cover our operating costs, however, as a result of the $5,899,998 raised in our two private placements in April and May, 2020, expected warrant exercises including $258,899 from warrant exercises received from March 31, 2020 to date, and our credit line, we believe we will have sufficient cash to sustain operations through at least August 14, 2021.