Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited)

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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited)
9 Months Ended
Dec. 31, 2020
USD ($)
Dec. 31, 2019
USD ($)
CASH FLOWS FROM OPERATING ACTIVITIES    
Net loss $ (11,742,965) $ (10,842,818)
Adjustments to reconcile net loss to net cash used in operating activities    
Depreciation expense 694,279 727,917
Stock compensation expense 2,064,149 1,428,950
Right-of-use asset amortization 932 11,011
Changes in operating assets and liabilities:    
Accounts receivable 27,421 (227,150)
Inventory (1,193,794) (309,113)
Prepaid expenses and other current assets 414,525 (1,620,957)
Accounts payable (410,773) 2,049,291
Accrued expenses 543,938 (96,240)
NET CASH USED IN OPERATING ACTIVITIES (9,602,288) (8,879,109)
CASH FLOWS FROM INVESTING ACTIVITIES    
Purchase of fixed assets (152,877) (244,442)
CASH USED IN INVESTING ACTIVITIES (152,877) (244,442)
CASH FLOWS FROM FINANCING ACTIVITIES    
Repayment of revolving financing (3,291,739) (235,835)
Proceeds from promissory note payable 325,800  
Proceeds from sale of common stock, net 4,899,998  
Proceeds for the exercise of warrants, net 4,914,888 2,500,486
Proceeds for the exercise of stock options, net 61,480  
CASH PROVIDED BY FINANCING ACTIVITIES 6,910,427 2,264,651
NET CHANGE IN CASH (2,844,738) (6,858,900)
CASH AT BEGINNING OF PERIOD 4,561,682 11,032,451
CASH AT END OF PERIOD 1,716,944 4,173,551
INTEREST PAID 411,507 235,197
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