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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
 6 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash flows used in operating activities:    
Net loss $ (5,378,414) $ (6,316,635)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 171,887 181,752
Stock based compensation 252,821 507,295
Accretion of right-of-use operating lease asset 139,060 1,924
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets 292,071 241,411
Accounts payable and other current liabilities 95,370 162,160
Due to related parties 465,110 35,560
Net cash used in operating activities (3,962,095) (5,186,533)
Cash flows used in investing activities:    
Purchases of property and equipment 0 (237,153)
Net cash used in investing activities 0 (237,153)
Cash flows provided by financing activities:    
Proceeds from the issuance of common stock, net 5,384,307 1,086,119
Tax withholding payments or tax equivalent payments for net share settlement of restricted stock units and net stock option expense (8,910) (18,215)
Net cash provided by financing activities 5,375,397 1,067,904
Effect of exchange rate on changes on cash 3,795 (1,241)
Net change in cash and restricted cash 1,417,097 (4,357,023)
Cash and restricted cash at beginning of period 5,529,484 14,620,449
Cash and restricted cash 6,946,581 10,263,426
Supplemental disclosures of non-cash investing and financing activities:    
Par value of shares issued for vested restricted stock units and net stock option exercise 53 16
Reconciliation of cash, cash equivalents and restricted cash to the condensed consolidated balance sheets:    
Cash and cash equivalents 6,859,075 10,175,920
Restricted cash $ 87,506 $ 87,506

Source

10-Q PDF
XBRL