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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
 12 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash flows from operating activities:    
Net loss $ (12,208,174) $ (12,029,786)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 359,057 240,892
Stock-based compensation 1,219,370 1,051,898
Loss on disposal of property, plant and equipment 21,135 0
Loss on dissolution of Subsidiary 0 142,121
Non-cash lease expense 143 24,408
Changes in operating assets and liabilities:    
Accounts receivable 0 127,965
Prepaid expenses and other current assets (10,232) 398,169
Accounts payable and other current liabilities 156,678 (174,727)
Deferred revenue 0 (344,547)
Due to related parties 332,213 58,479
Net cash used in operating activities (10,129,810) (10,505,128)
Cash flows from investing activities:    
Purchases of property and equipment (250,867) (943,109)
Net cash used in investing activities (250,867) (943,109)
Cash flows from financing activities:    
Tax withholding payments or tax equivalent payments for net share settlement of restricted stock units (34,778) (12,493)
Net proceeds from the issuance of common stock 1,322,383 8,927,211
Net cash provided by financing activities 1,287,605 8,914,718
Effect of Exchange Rate on Changes on Cash 2,107 (5,957)
Net decrease in cash and restricted cash (9,090,965) (2,539,476)
Cash and restricted cash at beginning of year 14,620,449 17,159,925
Cash and restricted cash 5,529,484 14,620,449
Supplemental information of non-cash investing and financing activities:    
Initial recognition of right-of-use lease asset and lease liability 0 625,471
Issuance of shares under vested restricted stock units, net stock option exercises and unvested share issuance for services 35 92
Reversal of accrued commission liability (see Note 6) 404,120 0
Deferred offering costs not yet paid 219,117 0
Reconciliation of cash, cash equivalents and restricted cash to the consolidated balance sheets:    
Cash and cash equivalents 5,441,978 14,532,943
Restricted cash $ 87,506 $ 87,506

Source

10-K PDF
XBRL