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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
 3 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash flows used in operating activities:    
Net loss $ (2,571,440) $ (3,282,179)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 86,060 90,325
Stock based compensation 139,328 250,114
Accretion of right-of-use operating lease asset (1,217) 1,238
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets 89,872 146,409
Accounts payable and other current liabilities 323,776 334,613
Deferred revenue 0 0
Due to related parties 186,084 (22,907)
Net cash used in operating activities (1,747,537) (2,482,387)
Cash flows used in investing activities:    
Purchases of property and equipment 0 (230,383)
Net cash used in investing activities 0 (230,383)
Cash flows provided by financing activities:    
Proceeds from the issuance of common stock, net 3,539,907 1,086,119
Proceeds from the issuance of common stock upon Class A and Class B warrant exercises 1,844,400 0
Tax withholding payments or tax equivalent payments for net share settlement of restricted stock units and net stock option expense (5,078) (8,372)
Net cash provided by financing activities 5,379,229 1,077,747
Effect of exchange rate on changes on cash (1,290) (186)
Net increase (decrease) in cash, cash equivalents and restricted cash 3,630,402 (1,635,209)
Cash, cash equivalents and restricted cash at beginning of period 5,529,483 14,620,449
Cash, cash equivalents and restricted cash 9,159,885 12,985,240
Supplemental disclosures of non-cash investing and financing activities:    
Par value of shares issued for vested restricted stock units and net stock option exercise 28 64
Reconciliation of cash, cash equivalents and restricted cash to the condensed consolidated balance sheets:    
Cash and cash equivalents 9,072,379 12,897,734
Restricted cash $ 87,506 $ 87,506

Source

10-Q PDF
XBRL