v3.21.2
Condensed Consolidated Statements of Cash Flows - USD ($)
6 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Operating activities:    
Net loss $ (1,718,901) $ (3,634,698)
Reconciliation of net loss to net cash from operating activities:    
Depreciation and amortization 59,039 81,239
Interest expense 325,361 181,481
Share based compensation expense 115,419 620,254
Extinguishment of debt (459,912) 0
Issuance of common shares in lieu of services 33,000 0
Changes in non-cash working capital items    
Accounts receivable 380,435 189,349
Prepaid expenses and other current assets 131,130 (38,743)
Net book value of demonstration inventory sold 16,248 0
Due from related parties 0 (1,311)
Inventories (96,708) 169,141
Accounts payable (76,009) (327,475)
Accrued liabilities 11,974 (31,031)
Deferred revenue (96,874) (89,813)
Net cash used in operating activities (1,375,798) (2,881,607)
Investing activities:    
Purchases of equipment 0 0
Net cash used in investing activities 0 0
Financing activities:    
Proceeds from convertible loans 5,000,000 1,502,575
Proceeds from PPP loan 0 459,912
Proceeds from term loan 550,000 0
Net cash provided by financing activities 5,550,000 1,962,487
Effect of exchange rate changes on cash and cash equivalents (7,887) 0
Net increase (decrease) in cash and cash equivalents 4,166,315 (919,120)
Cash and cash equivalents, beginning of the period 608,348 2,269,747
Cash and cash equivalents, end of the period 4,774,663 1,350,627
Supplemental noncash investing & financing activities:    
Conversion of term loans into option exercises 642,153 0
Conversion of demand loans into convertible notes $ 3,286,791 $ 0

Source