Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

v3.21.2
Condensed Consolidated Statements of Cash Flows - USD ($)
3 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Operating activities:    
Net loss $ (450,912) $ (2,007,076)
Reconciliation of net loss to net cash from operating activities:    
Depreciation and amortization 29,116 41,616
Interest expense 102,296 74,975
Share based compensation expense 94,544 407,315
Extinguishment of debt (459,912) 0
Changes in non-cash working capital items    
Accounts receivable 5,800 (128,308)
Prepaid expenses and other current assets (99,252) (90,798)
Net book value of demonstration inventory sold 16,248 0
Due from related parties 0 (817)
Inventories 90,851 114,472
Accounts payable 66,518 (413,219)
Accrued liabilities 7,766 406,425
Deferred revenue (21,146) (33,782)
Net cash used in operating activities (618,083) (1,629,197)
Investing activities:    
Purchases of equipment 0 0
Net cash used in investing activities 0 0
Financing activities:    
Proceeds from convertible loans 0 1,302,575
Proceeds from PPP Loan 0 459,912
Proceeds from term loan 550,000 0
Net cash provided by financing activities 550,000 1,762,487
Effect of exchange rate changes on cash and cash equivalents 1,322 0
Net (decrease) increase in cash and cash equivalents (66,761) 133,290
Cash and cash equivalents, beginning of the period 608,348 2,269,747
Cash and cash equivalents, end of the period $ 541,587 $ 2,403,037