v3.22.2.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended 6 Months Ended 12 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Mar. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES          
Net loss     $ (26,728,521) $ (5,412,378)  
Adjustments to reconcile net loss to net cash used in operating activities          
Depreciation expense $ 408,232 $ 257,772 933,461 612,275  
Amortization expense     735,000  
Amortization of debt discount     4,176,389 236,364  
Change in fair value of derivative liability     16,927,000  
Change in fair value of warrant liability 39,000 (1,876,000) $ 1,987,000
Financing costs 109,953  
Forgiveness of PPP loan (103,200)  
Shares issued for services     74,750 122,926  
Changes in operating assets and liabilities:          
Accounts receivable     (57,736)  
Inventory     (40,079)  
Prepaid expenses and other current assets     720,314 (281,729)  
Accounts payable     376,056 (138,766)  
Other accrued expenses     51,363 (58,396)  
Accrued expenses - related parties     600,000  
Accrued interest     1,065,705 13,018  
Accrued interest - related parties     11,796  
Cash used in operating activitites     (3,630,503) (4,299,933)  
CASH FLOWS FROM INVESTING ACTIVITIES          
Cash paid for machinery and equipment     (208,883) (645,705)  
Cash paid for patent acquisition with F & T     (2,000,000)  
Cash paid for acquisition of shares of NCI     (1,000,000)  
Cash paid for License Agreement     (2,350,000)  
Cash paid for construction in process     (1,297,819)  
CASH USED IN INVESTING ACTIVITIES     (208,883) (7,293,524)  
CASH FLOWS FROM FINANCING ACTIVITIES          
Payments on bank loan     (4,114)  
Payments of notes payable     (48,000) (48,000)  
Payments on notes payable, related party     (655,750)  
Repayment of short-term promissory note and lines of credit     (227) (553,577)  
Borrowing on Notes payable related party      
Notes receivable      
Lines of credit      
Proceeds from issuance of common shares under equity agreeement     17,277,123  
Proceeds from promissory note     4,865,000  
Proceeds from promissory note, related parties     250,000    
Proceeds from convertible debentures, receipt from escrow     1,500,000  
Escrow account in relation to the proceeds from promissory notes     (3,900,000)  
Payments on convertible debentures     (421,486)  
Proceeds from sale of Series E PS      
Proceeds from sale of Series D PS      
Redemption of Series D PS     (3,513,504)  
Shares issued upon exercise of warrants     11,000  
Cash provided by financing activitites     2,666,773 12,091,692  
NET CHANGE IN CASH     (1,172,613) 498,236  
CASH AT BEGINNING OF YEAR     1,734,040 155,795 155,795
CASH AT END OF YEAR $ 561,428 $ 654,031 561,428 654,031 $ 1,734,040
INTEREST PAID     4,162 147,199  
Supplemental Disclosure of Non-Cash Investing and Financing Activities:          
Construction in process transferred to fixed assets     915,883  
Shares issued upon conversion of convertible debentures     421,486  
Shares issued upon conversion of Preferred stock     1,560,000  
Cancellation of Right of Use asset and Lease liability     275,400  
Shares issued as consideration for Patent acquisition     5,000,000  
Shares issued as consideration for acquisition of remaining NCI     $ 2,000,000  

Source