Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

v3.22.2.2
Condensed Consolidated Balance Sheets - USD ($)
Jun. 30, 2022
Mar. 31, 2022
Current assets    
Cash $ 664,424 $ 1,734,040
Accounts receivable 38,517 14,385
Escrow account 1,500,000
Inventory 104,538 69,170
Prepaid expenses 1,993,296 1,511,546
Total current assets 2,800,775 4,829,141
Fixed assets, net 15,804,603 14,798,103
Other assets    
Construction-in-process 46,484 1,087,101
Patents, net 6,561,000 6,658,500
License Agreement, net 9,952,376 10,222,376
Right of Use asset 263,517 282,753
Deposits 20,633 20,633
Total other assets 16,844,010 18,271,363
Total assets 35,449,388 37,898,607
Current liabilities    
Accounts payable 3,252,080 2,802,787
Accrued interest 989,247 500,450
Accrued interest - related parties 211,795 203,520
Other accrued expenses 218,558 207,418
Accrued expenses - related parties 200,000 200,000
Short-term Promissory Note and Lines of credit 20,044 20,044
Note payable 96,000 96,000
Notes payable - related parties 495,412 495,412
Dividends payable 398,857 296,630
Derivative liability 11,787,000 13,101,000
Warrant liability 2,008,000 3,923,000
Total current liabilities 19,676,993 21,846,261
Convertible debenture, less unamortized debt discount of $11,900,000 4,669,079 2,629,079
Note payable, less current maturities 95,604 119,604
Lease Liability 268,330 286,253
Total liabilities 24,710,006 24,881,197
Commitments and contingencies (Note 9)
Stockholders’ deficit    
Series A Convertible Preferred stock, $0.0001 par value, 5,000,000 shares authorized, 5,000,000 shares issued and outstanding at June 30, 2022 and March 31, 2021 500 500
Common stock, $0.0001 par value, 900,000,000 shares authorized, 740,710,500 shares issued and 740,585,500 shares outstanding at June 30, 2022 and 674,831,624 shares issued and 674,644,124 shares outstanding at March 31, 2022, respectively 74,097 67,500
Additional paid in capital 117,032,233 96,701,607
Stock payable 815,052 20,132,650
Subscription receivable (56,250)
Accumulated deficit (152,758,426) (150,036,023)
Total stockholders’ deficit (34,892,794) (33,133,766)
Total liabilities, mezzanine and stockholders’ deficit 35,449,388 37,898,607
Series E Redeemable Convertible Preferred Stock [Member]    
Current liabilities    
Series F Redeemable Convertible Preferred stock, $0.0001 par value, 750,000 shares authorized, 750,000 and 0 shares issued and outstanding at June 30, 2022 and March 31, 2021, respectively 2,020,176 2,539,176
Series F Redeemable Convertible Preferred Stock [Member]    
Current liabilities    
Series F Redeemable Convertible Preferred stock, $0.0001 par value, 750,000 shares authorized, 750,000 and 0 shares issued and outstanding at June 30, 2022 and March 31, 2021, respectively $ 43,612,000 $ 43,612,000