v3.22.2.2
Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($)
6 Months Ended 12 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Mar. 31, 2022
Operating activities:      
Net loss $ (2,513,521) $ (1,718,901)  
Reconciliation of net loss to net cash from operating activities:      
Depreciation and amortization 23,739 59,039  
Interest expense 20,883 325,361  
Share based compensation expense 107,365 115,419  
Extinguishment of debt   (459,912)  
Issuance of common shares in lieu of services   33,000  
Changes in non-cash working capital items      
Accounts receivable (306,616) 380,435  
Prepaid expenses and other current assets 223,482 131,130  
Net book value of demonstration inventory sold   16,248  
Inventories (201,360) (96,708)  
Accounts payable 47,335 (76,009)  
Accrued liabilities 340,029 11,974  
Other noncurrent liability (277)    
Deferred revenue 141,361 (96,874)  
Net cash used in operating activities (2,117,580) (1,375,798)  
Investing activities:      
Acquisition (215,000)    
Other non-current assets (7,177)    
Net cash used in investing activities (222,177)    
Financing activities:      
Proceeds from convertible loans 750,000 5,000,000  
Proceeds from term loan   550,000  
Net cash provided by financing activities 750,000 5,550,000  
Effect of exchange rate changes on cash and cash equivalents (3,874) (7,887)  
Net increase (decrease) in cash and cash equivalents (1,593,631) 4,166,315  
Cash and cash equivalents, beginning of the period 1,991,377 608,348 $ 608,348
Cash and cash equivalents, end of the period 397,746 4,774,663 $ 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