Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)

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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
3 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Cash flows used in operating activities:    
Net loss $ (1,411,146) $ (2,067,284)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 8,770 2,868
Stock based compensation 84,207 326,536
Loss on debt extinguishment 0 447,011
Accretion of right-of-use lease asset (188) 661
Amortization of debt discount 0 30,287
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets 62,660 58,325
Accounts payable and other current liabilities (73,142) (56,877)
Deferred revenue 206,729 0
Due to related parties 20,137 10,788
Net cash used in operating activities (1,101,973) (1,247,685)
Cash flows from investing activities:    
Purchases of property and equipment (17,809) (886)
Net cash used in investing activities (17,809) (886)
Net provided by (used in) financing activities    
Proceeds from the issuance of common stock, net 7,260,869 36,622
Principal payments on convertible notes 0 (100,000)
Tax withholding payments or tax equivalent payments for net share settlement of restricted stock units (24,251) (23,771)
Net cash provided by (used in) financing activities 7,236,618 (87,149)
Net increase (decrease) in cash 6,116,836 (1,335,720)
Cash at beginning of period 9,604,780 3,828,074
Cash at end of period 15,721,616 2,492,354
Supplement disclosures of cash flow information:    
Interest 0 71,978
Supplemental information of non-cash investing and financing activities:    
Initial recognition of right-of-use lease asset and lease liability 0 228,694
Par value of shares issued for vested restricted stock units $ 0 $ 53