v3.25.2
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
 12 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Cash flows from operating activities:    
Net loss $ (13,388,089) $ (12,208,174)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 339,559 359,057
Stock-based compensation 415,234 1,219,370
Loss on disposal of property, plant and equipment 0 21,135
Non-cash lease expense 281,208 143
Warrant Inducement Expense 4,612,862 0
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets 113,923 (10,232)
Accounts payable and other current liabilities (53,360) 156,678
Due to related parties 33,131 332,213
Net cash used in operating activities (7,645,532) (10,129,810)
Cash flows from investing activities:    
Purchases of property and equipment 0 (250,867)
Cash used in investing activities 0 (250,867)
Cash flows from financing activities:    
Tax withholding payments or tax equivalent payments for net share settlement of restricted stock units (18,927) (34,778)
Net proceeds from the issuance of common stock 3,539,907 1,322,383
Proceeds from exercise of warrants – standard terms 2,054,940 0
Proceeds from exercise of warrants – induced terms 2,316,320 0
Commission paid related to warrant inducement (153,979) 0
Legal fees paid related to warrant inducement (10,877) 0
Net cash provided by financing activities 7,727,384 1,287,605
Effect of Exchange Rate on Changes on Cash (12,262) 2,107
Net increase (decrease) in cash and cash equivalents and restricted cash 69,590 (9,090,965)
Cash and cash equivalents restricted cash at beginning of year 5,529,484 14,620,449
Cash and restricted cash 5,599,074 5,529,484
Supplemental information of non-cash investing and financing activities:    
Issuance of shares under vested restricted stock units, net stock option exercises and unvested share issuance for services 13 35
Disposal of fully depreciated property 350,670 0
Reversal of accrued commission liability (see Note 6) 0 404,120
Deferred offering costs not yet paid 0 219,117
Reconciliation of cash, cash equivalents and restricted cash to the consolidated balance sheets:    
Cash and cash equivalents 5,501,261 5,441,978
Restricted cash $ 97,813 $ 87,506

Source

10-K PDF
XBRL