Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

v3.22.4
Condensed Consolidated Balance Sheets - USD ($)
Dec. 31, 2022
Mar. 31, 2022
Current assets    
Cash $ 141,864 $ 1,734,040
Accounts receivable 7,502 14,385
Escrow account 1,500,000
Inventory 101,929 69,170
Prepaid expenses 490,140 1,511,546
Deferred offering costs 126,963
Total current assets 868,398 4,829,141
Fixed assets, net 15,350,443 14,798,103
Other assets    
Construction-in-process 45,730 1,087,101
Patents, net 6,366,000 6,658,500
License Agreement, net 9,412,376 10,222,376
Right of Use asset 224,266 282,753
Deposits 20,633 20,633
Total other assets 16,069,005 18,271,363
Total assets 32,287,846 37,898,607
Current liabilities    
Accounts payable 3,523,210 2,802,787
Accrued interest 336,102 500,450
Accrued interest - related parties 213,292 203,520
Other accrued expenses 299,978 207,418
Accrued expenses - related parties 200,000 200,000
Short-term Promissory Note and Lines of credit 19,817 20,044
Note payable 96,000 96,000
Restructured August note payable 2,219,347
Notes payable - related parties 745,412 495,412
Dividends payable 514,391 296,630
Derivative liability 13,101,000
Warrant liability 892,000 3,923,000
Total current liabilities 9,059,549 21,846,261
Convertible debenture, less unamortized debt discount of $9,680,000 2,629,079
Restructured Senior note payable 20,223,035
Note payable, less current maturities 47,604 119,604
Lease Liability 231,704 286,253
Total liabilities 29,561,892 24,881,197
Commitments and contingencies (Note 10)
Stockholders’ deficit    
Series A Convertible Preferred stock, $0.0001 par value, 5,000,000 shares authorized, 5,000,000 shares issued and outstanding at December 31, 2022 and March 31, 2021 500 500
Common stock, $0.0001 par value, 900,000,000 shares authorized, 768,561,129 shares issued and 751,322,954 shares outstanding at December 31, 2022 and 674,831,624 shares issued and 674,644,124 shares outstanding at March 31, 2022, respectively 76,894 67,500
Additional paid in capital 119,464,471 96,701,607
Stock payable 662,767 20,132,650
Subscription receivable (56,250)
Accumulated deficit (163,037,985) (150,036,023)
Total stockholders' deficit (42,889,603) (33,133,766)
Total liabilities, mezzanine and stockholders’ deficit 32,287,846 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 December 31, 2022 and March 31, 2021, respectively 2,003,557 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 December 31, 2022 and March 31, 2021, respectively $ 43,612,000 $ 43,612,000