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v3.19.2

Condensed Consolidated Statements of Cash Flows - USD ($) | 12 Months Ended
--- | ---
Mar. 31, 2019 | Mar. 31, 2018
CASH FLOWS FROM OPERATING ACTIVITIES |  |
Net loss | $ (2,539,498) | $ (659,246)
Adjustments to reconcile net loss to net cash used in operating activities: |  |
Stock-based compensation expense | 532,108 | 0
Depreciation and amortization | 14,468 | 1,861
Shares for services | 19,800 | 0
Increase/Decrease in Current Assets/Liabilities: |  |
Other assets | 1,214 | (23,998)
Accounts payable and accrued expenses | 163,974 | (109,748)
Net cash used in operating activities | (1,807,934) | (791,131)
CASH FLOWS FROM INVESTING ACTIVITIES |  |
Purchase of property, plant and equipment | (77,124) | (15,119)
Purchase of intangible assets | 0 | (213)
Net cash used in investing activities | (77,124) | (15,332)
Cash Flows from Financing Activities |  |
Proceeds from private placement | 4,142,666 | 4,731,872
Repayment to related party, net | (516) | (20,740)
Net cash provided by financing activities | 4,142,150 | 4,711,132
Net increase in cash and cash equivalents | 2,257,092 | 3,904,669
Cash and cash equivalents, at the beginning of the period | 4,296,676 | 392,007
Cash and cash equivalents, at the end of the period | 6,553,768 | 4,296,676
SUPPLEMENTAL DISCLOSURES: |  |
Cash paid during the year for income tax payments | 1,589 | 1,600
Cash paid during the year for interest payments | $ 0 | $ 0

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