v3.20.4
Condensed Consolidated Statements of Cash Flows - USD ($)
9 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Operating activities    
Net loss $ (12,585,579) $ (8,473,278)
Reconciliation of net loss to net cash from operating activities:    
Depreciation and amortization 119,664 286,608
Interest expense 265,566 146,144
Allowance for doubtful accounts 0 167,500
Impairment of goodwill & intangible assets 7,182,053 0
Share based compensation expense 719,048 1,373,195
Changes in non-cash working capital items    
Accounts receivable 672,659 1,057,564
Prepaid expenses and other current assets (25,922) (374,802)
Due from related parties (2,314) (809)
Inventories 219,910 (1,029,739)
Accounts payable (318,480) (424,805)
Accrued liabilities 420,139 (465,084)
Deferred revenue (3,282) 209,974
Net cash used in operating activities (3,336,537) (7,527,532)
Investing activities    
Purchases of equipment 0 (95,730)
Net cash used in investing activities 0 (95,730)
Financing activities    
Proceeds from convertible loans 1,502,575 9,070,000
Proceeds from PPP Loan 459,912 0
Repayment of term loan 0 (500,000)
Proceeds from term loan 0 500,000
Net cash provided by financing activities 1,962,487 9,070,000
Net (decrease) increase in cash and cash equivalents (1,374,050) 1,446,738
Cash and cash equivalents, beginning of the period 2,269,747 446,779
Cash and cash equivalents, end of the period $ 895,697 $ 1,893,517

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