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, 2019
Mar. 31, 2018
Cash flows from operating activities:    
Net loss $ (6,219,504) $ (5,699,837)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 30,695 35,658
Loss on share for warrant exchanges 0 130,215
Loss on debt extinguishment 0 376,909
Stock based compensation 1,319,001 1,260,769
Amortization of debt discount and deferred financing costs 121,148 245,663
Fair market value of common stock issued for services 19,350 33,600
Changes in operating assets and liabilities:    
Accounts receivable 74,813 (74,813)
Prepaid expenses and other current assets (28,675) (143,816)
Other assets 6,111 (3,374)
Accounts payable and other current liabilities 390,340 (104,154)
Due to related parties (6,712) 32,500
Net cash used in operating activities (4,293,433) (3,910,680)
Cash flows from investing activities:    
Purchases of property and equipment 0 (24,823)
Net cash used in investing activities 0 (24,823)
Cash flows from financing activities:    
Cash paid for repurchase of restricted stock units (193,866) (278,633)
Net proceeds from the issuance of common stock and exercise of warrants 1,341,303 9,628,505
Net cash provided by financing activities 1,147,437 9,349,872
Net (decrease) increase in cash (3,145,996) 5,414,369
Cash at beginning of year 6,974,070 1,559,701
Cash at end of year 3,828,074 6,974,070
Supplement disclosures of cash flow information:    
Interest 95,388 0
Supplemental information of non-cash investing and financing activities:    
Conversion of debt, accrued liabilities and accrued interest to common stock 0 362,763
Issuance of shares under vested restricted stock units $ 193 $ 211