v3.23.2
Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Operating activities:    
Net loss $ (4,946,024) $ (10,407,994)
Reconciliation of net loss to net cash from operating activities:    
Depreciation and amortization 63,167 102,623
Interest expense 105,794 822,568
Issuance of common shares in lieu of services 68,200 53,800
Extinguishment of debt 0 (459,912)
Impairment of goodwill & intangible assets 0 5,200,608
Write-off of demonstration equipment 0 16,248
Share based compensation expense 308,305 384,365
Changes in non-cash working capital items    
Accounts receivable (178,240) 177,062
Prepaid expenses and other current assets 263,953 553,266
Operating leases, net 1,863 0
Inventories 78,373 (543,957)
Accounts payable 262,238 (148,960)
Accrued liabilities 509,912 104,495
Deferred revenue 75,145 (1,499)
Net cash used in operating activities (3,387,314) (4,147,287)
Investing activities:    
Acquisition (215,000) 0
Purchases of equipment 0 (12,500)
Other non-current assets (8,694) 0
Net cash used in investing activities (223,694) (12,500)
Financing activities    
Proceeds from convertible loans 2,050,000 5,550,000
Net cash provided by financing activities 2,050,000 5,550,000
Foreign exchange impact (2,986) (7,184)
Net (decrease)/increase in cash and cash equivalents (1,563,994) 1,383,029
Cash and cash equivalents, beginning of the period 1,991,377 608,348
Cash and cash equivalents, end of the period 427,383 1,991,377
Supplemental noncash investing & financing activities:    
Subsidiary purchase of fixed assets 50,185 0
Conversion of term loans into option exercises 0 642,153
Transfer of demonstration equipment from inventory to fixed assets 0 42,768
Conversion of promissory notes into common stock $ 0 $ 8,988,011

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