Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.23.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 3 Months Ended 12 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Mar. 31, 2023
CASH FLOWS FROM OPERATING ACTIVITIES      
Net loss $ (2,298,431) $ (2,200,176)  
Adjustments to reconcile net loss to net cash used in operating activities      
Depreciation expense 434,809 525,229  
Amortization expense 367,500 367,500  
Amortization of debt discount 2,040,000  
Change in fair value of derivative liability (1,314,000)  
Change in fair value of warrant liability (50,000) (1,915,000) $ (3,568,000)
Change in fair value of promissory notes (137,634)  
Financing costs 120,000  
Gain on sale of machinery and equipment (5,785)  
Shares issued for services 4,700 24,375  
Amortization of operating lease right-of-use assets 20,293  
Changes in operating assets and liabilities:      
Accounts receivable (19,004) (24,132)  
Inventory (20,932) (35,368)  
Prepaid expenses and other current assets 32,462 (481,750)  
Deferred offering costs (55,503)  
Accounts payable 35,636 450,606  
Other accrued expenses 12,032 11,140  
Accrued expenses - related parties 171,690  
Accrued interest 488,797  
Accrued interest - related parties 6,250 8,275  
Operating lease liabilities (18,981)  
Cash used in operating activities (1,400,898) (2,054,504)  
CASH FLOWS FROM INVESTING ACTIVITIES      
Cash paid for fixed assets (39,308) (491,112)  
Cash received for sale of machinery and equipment 19,000  
Cash used in investing activities (20,308) (491,112)  
CASH FLOWS FROM FINANCING ACTIVITIES      
Payments of notes payable (24,000) (24,000)  
Proceeds from sale of stock 1,298,512  
Proceeds from convertible debentures, receipt from escrow 1,500,000  
Cash provided by financing activities 1,274,512 1,476,000  
NET CHANGE IN CASH (146,694) (1,069,616)  
CASH AT BEGINNING OF PERIOD 216,465 1,734,040 1,734,040
CASH AT END OF PERIOD 69,771 664,424 $ 216,465
INTEREST PAID 616 5,300  
Supplemental Disclosure of Non-Cash Investing and Financing Activities:      
Construction in process transferred to fixed assets 1,040,617  
Shares issued upon conversion of Preferred stock 828,000 840,000  
Dividends on Series E Preferred stock 404,825  
Dividends in kind issued 516,000  
Shares issued/to be issued, for legal settlement $ 272,743