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 $ (5,699,837) $ (7,306,726)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 35,658 32,413
Warrant repricing expense 0 345,841
Loss on share for warrant exchanges 130,215 0
Loss on debt extinguishment 376,909 558,198
Stock based compensation 1,260,769 2,186,309
Amortization of debt discount and deferred financing costs 245,663 220,439
Fair market value of common stock issued for services 33,600 0
Changes in operating assets and liabilities:    
Accounts receivable (74,813) 199,471
Prepaid expenses and other current assets (143,816) 15,743
Other assets (3,374) 7,518
Accounts payable and other current liabilities (104,154) 322,140
Due to related parties 32,500 (87,246)
Net cash used in operating activities (3,910,680) (3,505,900)
Cash flows from investing activities:    
Purchases of property and equipment (24,823) (16,433)
Net cash used in investing activities (24,823) (16,433)
Cash flows from financing activities:    
Cash paid for repurchase of restricted stock units (278,633) (378,518)
Proceeds from the issuance of convertible notes payable 0 577,460
Net proceeds from the issuance of common stock and warrants 9,628,505 2,759,355
Net cash provided by financing activities 9,349,872 2,958,297
Net increase (decrease) in cash 5,414,369 (564,036)
Cash at beginning of year 1,559,701 2,123,737
Cash at end of year 6,974,070 1,559,701
Supplemental information of non-cash investing and financing activities:    
Conversion of debt, accrued liabilities and accrued interest to common stock 362,763 144,719
Reclassification of accrued interest to convertible notes payable 0 85,031
Issuance of shares for warrants 0 198
Issuance of shares under vested restricted stock units 211 150
Issuance of shares under cashless warrant exercises 0 3
Debt discount on convertible notes payable $ 0 $ 783,868