XML 25 R6.htm IDEA: XBRL DOCUMENT v3.22.2
Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash Flows from operating activities    
Net loss $ (18,632,761) $ (7,377,976)
Adjustments to reconcile net loss to net cash used in operating activities:    
Gain on PPP note forgiveness (368,780)
Loss on debt extinguishment 1,321,450
Stock-based compensation expense 4,031,902 1,227,578
Depreciation and amortization 117,490 111,015
Accrued interest 666,338
Shares issued for services 395,950 68,880
Amortization of lease right-of-use asset 79,431 70,826
Change in lease liability (125,040) 38,905
Amortization of debt issuance costs 1,833,618 12,253
Other 274 1,004
Changes in assets and liabilities:    
Other assets and prepaid expenses 65,652 25,600
Accounts payable and accrued expenses 354,948 (86,747)
Net cash used in operating activities (10,259,528) (5,908,662)
Cash flows from investing activities    
Purchases of property and equipment (54,764) (109,669)
Net cash used in investing activities (54,764) (109,669)
Cash flows from financing activities    
Proceeds from private placements, net of issuance costs 250,000 1,785,882
Proceeds from issuance of convertible notes, net of placement fees 4,137,199 2,210,000
Proceeds from issuance of promissory note 2,100,000
Repayment of promissory note (2,100,000)
Proceeds from issuance of PPP note payable 368,780
Proceeds from issuance of common stock upon public offering, net of issuance costs 13,535,000
Net cash provided by financing activities 17,922,199 4,364,662
Net increase (decrease) in cash and cash equivalents 7,607,907 (1,653,669)
Cash and cash equivalents, at beginning of year 1,468,465 3,122,134
Cash and cash equivalents, at end of year 9,076,372 1,468,465
Noncash investing and financing activities:    
Fair value of detachable warrants issued with convertible notes 3,700,632
Conversion of convertible notes and accrued interest into common stock 7,253,876
Cash paid for:    
Income taxes 1,600 1,600
Interest paid $ 252,000