Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
 6 Months Ended
Sep. 30, 2015
Sep. 30, 2014
CASH FLOWS FROM OPERATING ACTIVITIES    
Net loss $ (2,549,307) $ (4,714,269)
Adjustments to reconcile net loss to net cash used in operating    
Depreciation expense 142,129 58,068
Stock compensation expense 918,584 3,014,306
Amortization of debt discount and accretion 88,083 414,370
Interest expense relating to amortization of capital lease discount 51,277 0
Change in derivative liabilities 42,662 (355,086)
Changes in operating assets and liabilities:    
Accounts receivable (248,181) (286,271)
Inventory (64,073) (385,241)
Prepaid expenses and other current assets 15,000 (18,304)
Accounts payable 340,509 291,176
Accounts payable - related party (43,036) (18,403)
Accrued expenses 31,791 (5,679)
Accrued interest 0 (17,429)
NET CASH USED IN OPERATING ACTIVITIES (1,274,562) (2,022,762)
CASH FLOWS FROM INVESTING ACTIVITIES    
Purchase of fixed assets (2,850) (317,673)
Proceeds from sale lease-back 0 208,773
Equipment deposits - related party (139,997) (668,772)
CASH USED IN INVESTING ACTIVITIES (142,847) (777,672)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from notes payable 430,000 0
Proceeds from convertible note payable 275,000 0
Proceeds from revolving financing 13,894 229,643
Proceeds from sale of common stock, net 746,200 2,361,999
Proceeds for the exercise of warrants, net 0 874,650
Repayment of capital lease (99,103) (20,870)
Repayment of redeemable preferred shares 0 (247,170)
CASH PROVIDED BY FINANCING ACTIVITIES 1,365,991 3,198,252
NET CHANGE IN CASH (51,418) 397,818
CASH AT BEGINNING OF PERIOD 90,113 2,665
CASH AT END OF PERIOD 38,695 400,483
SUPPLEMENTAL INFORMATION:    
INTEREST PAID 67,362 0
NON-CASH INVESTING AND FINANCING ACTIVITIES:    
Preferred stock conversion to common stock 0 252,830
Deferred discount on conversion of preferred stock 0 56,098
Fair value of derivative liability at issuance of warrants 0 389,710
Fair value of derivative liability at exercise of warrants $ 0 $ 150,566