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, 2017
Mar. 31, 2016
Cash flows from operating activities:    
Net loss $ (7,306,726) $ (4,958,616)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 32,413 38,524
Warrant repricing expense 345,841 0
Loss on debt conversion 558,198 0
Stock based compensation 2,186,309 202,844
Amortization of debt discount and deferred financing costs 220,439 517,233
Changes in operating assets and liabilities:    
Accounts receivable 199,471 (6,130)
Prepaid expenses and other current assets 15,743 19,841
Other assets 7,518 (95,638)
Accounts payable and other current liabilities 322,140 (46,365)
Due to related parties (87,246) (1,000)
Net cash used in operating activities (3,505,900) (4,329,307)
Cash flows from investing activities:    
Purchases of property and equipment (16,433) (9,307)
Net cash used in investing activities (16,433) (9,307)
Cash flows from financing activities:    
Cash paid for repurchase of restricted stock units (378,518) 0
Proceeds from the issuance of convertible notes payable 577,460 0
Net proceeds from the issuance of common stock and warrants 2,759,355 5,606,755
Net cash provided by financing activities 2,958,297 5,606,755
Net increase (decrease) in cash (564,036) 1,268,141
Cash at beginning of year 2,123,737 855,596
Cash at end of year 1,559,701 2,123,737
Supplement information for non-cash investing and financing activities:    
Conversion of debt, accrued liabilities and accrued interest to common stock 144,719 0
Reclassification of accrued interest to convertible notes payable 85,031 0
Issuance of shares for warrants 198 0
Issuance of shares under vested restricted stock units 150 0
Issuance of shares under cashless warrant exercises 3 5
Debt discount on convertible notes payable $ 783,868 $ 0