Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENT OF CASH FLOWS

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CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($)
9 Months Ended
Dec. 31, 2015
Dec. 31, 2014
CASH FLOWS FROM OPERATING ACTIVITIES    
Net loss $ (3,644,028) $ (5,480,579)
Adjustments to reconcile net loss to net cash used in operating    
Depreciation expense 214,333 107,801
Stock compensation expense 1,111,445 3,038,573
Amortization of debt discount and accretion 296,415 414,370
Interest expense relating to amortization of capital lease discount 77,029 14,294
Change in derivative liabilities (47,364) (377,552)
Changes in operating assets and liabilities:    
Accounts receivable (282,835) (155,283)
Inventory (7,964) (323,671)
Prepaid expenses and other current assets 15,000 0
Accounts payable 116,418 138,334
Accounts payable - related party (43,036) (18,403)
Accrued expenses 50,632 (2,189)
NET CASH USED IN OPERATING ACTIVITIES (2,143,955) (2,644,305)
CASH FLOWS FROM INVESTING ACTIVITIES    
Purchase of fixed assets (19,461) (768,533)
Proceeds from sale lease-back 0 208,773
Equipment deposits - related party (194,997) (188,289)
CASH USED IN INVESTING ACTIVITIES (214,458) (748,049)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from notes payable 1,325,000 0
Proceeds from convertible note payable 435,000 0
Proceeds from revolving financing 141,061 75,432
Proceeds from sale of common stock, net 781,200 2,361,999
Proceeds for the exercise of warrants, net 0 1,344,630
Proceeds from capital lease 0 366,574
Repayment of redeemable preferred shares 0 (247,170)
Repayment of notes payable (152,058) 0
Repayment of capital lease (152,122) (381,354)
CASH PROVIDED BY FINANCING ACTIVITIES 2,378,081 3,520,111
NET CHANGE IN CASH 19,668 127,757
CASH AT BEGINNING OF PERIOD 90,113 2,665
CASH AT END OF PERIOD 109,781 130,422
INTEREST PAID 112,395 9,238
Derivative liability on redeemable preferred stock 0 159,532
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
Exercise of stock options with accounts payable 0 1,820
Capitalized lease 0 398,830
Warrant issued for deferred financing cost $ 0 $ 159,532