Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
12 Months Ended
Mar. 31, 2018
Mar. 31, 2017
CASH FLOWS FROM OPERATING ACTIVITIES    
Net loss $ (6,687,280) $ (3,454,600)
Adjustments to reconcile net loss to net cash used in operating    
Depreciation expense 418,777 359,556
Stock compensation expense 3,554,912 379,125
Amortization of debt discount and accretion 295,000 556,330
Interest expense converted to equity 14,583 0
Interest expense relating to amortization of capital lease discount 60,089 103,009
Change in derivative liabilities (3,119) (7,736)
Changes in operating assets and liabilities:    
Accounts receivable (1,179,814) (507,891)
Inventory (182,032) (385,280)
Prepaid expenses and other current assets 10,776 (296,441)
Accounts payable 709,164 496,372
Accrued expenses 363,095 203,303
NET CASH USED IN OPERATING ACTIVITIES (2,625,849) (2,554,253)
CASH FLOWS FROM INVESTING ACTIVITIES    
Purchase of fixed assets (317,855) (253,170)
CASH USED IN INVESTING ACTIVITIES (317,855) (253,170)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from convertible note payable 500,000 1,260,000
Proceeds from revolving financing 1,155,932 960,810
Proceeds from sale of common stock, net 0 425,000
Proceeds for the exercise of warrants, net 1,950,000 300,000
Repayment of loan payable (18,826) 0
Repayment of notes payable 0 (440,078)
Repayment of capital lease (258,302) (243,623)
Repurchase of common stock 0 (43,000)
CASH PROVIDED BY FINANCING ACTIVITIES 3,328,804 2,219,109
NET CHANGE IN CASH 385,100 (588,314)
CASH AT BEGINNING OF PERIOD 603,805 1,192,119
CASH AT END OF PERIOD 988,905 603,805
INTEREST PAID 324,260 367,115
NON-CASH INVESTING AND FINANCING TRANACTIONS    
Conversion of note payable to common shares $ 514,602 $ 0