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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2024
Dec. 31, 2023
Cash flows used in operating activities:        
Net loss $ (1,754,783) $ (3,466,121) $ (7,133,196) $ (9,782,756)
Adjustments to reconcile net loss to net cash used in operating activities:        
Depreciation and amortization     255,695 273,225
Stock based compensation 89,970 572,955 342,791 1,080,250
Loss on disposal of property and equipment     0 3,271
Accretion of right-of-use operating lease asset     209,740 1,358
Changes in operating assets and liabilities:        
Prepaid expenses and other current assets     418,718 282,192
Accounts payable and other current liabilities     (302,096) 136,268
Due to related parties     235,465 441,824
Net cash used in operating activities     (5,972,883) (7,564,368)
Cash flows used in investing activities:        
Purchases of property and equipment     (2,192) (245,960)
Net cash used in investing activities     (2,192) (245,960)
Cash flows provided by financing activities:        
Proceeds from the issuance of common stock, net     5,384,307 1,272,621
Tax withholding payments or tax equivalent payments for net share settlement of restricted stock units and net stock option expense     (15,983) (27,588)
Net cash provided by financing activities     5,368,324 1,245,033
Effect of exchange rate on changes on cash     (9,840) 4,364
Net change in cash and restricted cash     (616,591) (6,560,931)
Cash and cash equivalents and restricted cash at beginning of period     5,529,484 14,620,449
Cash and cash equivalents and restricted cash 4,912,893 8,059,518 4,912,893 8,059,518
Supplemental disclosures of non-cash investing and financing activities:        
Par value of shares issued for vested restricted stock units and net stock option exercise     78 25
Deferred offering cost not yet paid     34 0
Reconciliation of cash, cash equivalents and restricted cash to the condensed consolidated balance sheets:        
Cash and cash equivalents 4,825,387 7,972,012 4,825,387 7,972,012
Restricted cash $ 87,506 $ 87,506 $ 87,506 $ 87,506

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