v3.22.4
Condensed Consolidated Statements of Cash Flows - USD ($)
3 Months Ended 9 Months Ended 12 Months Ended
Dec. 31, 2021
Dec. 31, 2022
Dec. 31, 2021
Mar. 31, 2022
Operating activities:        
Net loss   $ (3,589,732) $ (8,702,746)  
Reconciliation of net loss to net cash from operating activities:        
Depreciation and amortization   43,591 89,713  
Interest expense   51,319 573,965  
Impairment of goodwill & intangible assets $ 5,200,608   5,200,608  
Share based compensation expense   138,587 319,005  
Extinguishment of debt     (459,912)  
Issuance of common shares in lieu of services     33,000  
Changes in non-cash working capital items        
Accounts receivable   (62,525) 322,131  
Prepaid expenses and other current assets   217,217 188,373  
Net book value of demonstration inventory sold     16,248  
Inventories   (30,719) (237,029)  
Accounts payable   82,462 (272,570)  
Accrued liabilities   419,064 166,735  
Operating leases, net   747    
Deferred revenue   99,618 (4,928)  
Net cash used in operating activities   (2,630,371) (2,767,407)  
Investing activities:        
Acquisition,   (215,000)    
Purchase of equipment     (12,500)  
Other non-current assets   (7,942)    
Net cash used in investing activities   (222,942) (12,500)  
Financing activities:        
Proceeds from convertible loans   1,550,000 5,550,000  
Payments on capital lease obligations     (1,437)  
Net cash provided by financing activities   1,550,000 5,548,563  
Effect of exchange rate changes on cash and cash equivalents   (2,862) (7,012)  
Net (decrease) increase in cash and cash equivalents   (1,306,175) 2,761,644  
Cash and cash equivalents, beginning of the period   1,991,377 608,348 $ 608,348
Cash and cash equivalents, end of the period $ 3,369,992 685,202 3,369,992 $ 1,991,377
Supplemental noncash activities:        
Conversion of term loans into option exercises     642,153  
Conversion of demand loans into convertible notes     $ 3,286,791  
Subsidiary purchase of fixed assets   $ 50,185    

Source