Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.20.2
Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Operating activities    
Net loss for the year $ (25,016,497) $ (10,556,601)
Adjustment for items not affecting cash:    
Depreciation 103,388 69,212
Amortization 277,258 278,997
Write-off of demonstration equipment 94,641 0
Goodwill impairment 11,222,291 0
Technology and other assets impairment 2,700,540 0
Interest expense 176,593 255,833
Share based compensation expense 1,781,612 1,347,399
Accretion expense 0 3,266,918
Fair Value Adjustment 0 (337,923)
Gain/Loss on mark to market re-evaluation 0 (2,048,697)
Allowance for doubtful accounts 167,500 (19,694)
Adjustments, Noncash Items, to Reconcile Net Income (Loss) to Cash Provided by (Used in) Operating Activities (8,492,674) (7,744,556)
Changes in non-cash working capital items:    
Accounts receivable 508,729 (1,290,769)
Prepaid expenses and other receivables (277,523) (921,377)
Due from related parties 745 312
Inventories (653,780) (168,239)
Accounts payable (291,759) 424,179
Accrued liabilities (5,577) 122,928
Deferred revenue 148,285 345,111
Net cash (used in) operating activities (9,063,554) (9,232,411)
Investing activities    
Acquisition of equipment (159,645) (101,779)
Net cash (used in) investing activities (159,645) (101,779)
Financing activities    
Proceeds from convertible loans 2,070,000 0
Proceeds from convertible loans 9,000,000 9,326,633
Repayment of Demand notes principal 0 (50,000)
Repayment of Demand notes interest 0 (2,975)
Proceeds from short term loan 500,000 0
Repayment of short term loan (523,833) 0
Net cash provided by financing activities 11,046,167 9,273,658
Net increase (decrease) in cash and cash equivalents for the year 1,822,968 (60,532)
Cash and cash equivalents, beginning of the year 446,779 507,311
Cash and cash equivalents, end of the year $ 2,269,747 $ 446,779