Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v3.24.2
Consolidated Balance Sheets - USD ($)
Mar. 31, 2024
Mar. 31, 2023
Current assets    
Cash $ 115,525 $ 216,465
Accounts receivable 27,450 17,325
Inventory 68,510 25,725
Prepaid expenses 169,650 286,593
Deferred offering costs 1,336,263
Total current assets 381,135 1,882,371
Fixed assets, net 13,301,245 15,043,715
Other assets    
Construction-in-process 25,130
Patents, net 5,878,500 6,268,500
License Agreement, net 8,062,376 9,142,376
Right of Use asset 73,449 204,243
Deposits 20,633 20,633
Total other assets 14,034,958 15,660,882
Total assets 27,717,338 32,586,968
Current liabilities    
Accounts payable 3,495,689 3,510,206
Other accrued expenses 1,743,799 1,314,961
Short-term note and lines of credit 19,817 19,817
Restructured Senior note payable 27,120,000
Restructured August note payable 2,640,000 2,400,000
Dividends payable 544,800 579,248
Warrant liability 24,000 355,000
Lease liability, current 28,560 87,804
Total current liabilities 38,528,534 11,221,783
Restructured Senior note payable 21,290,000
Note payable, less current maturities 23,604
Lease liability, non-current 43,325 125,189
Total liabilities 38,571,859 32,660,576
Commitments and contingencies (Note 13)
Stockholders’ deficit    
Series A Convertible Preferred stock, $0.0001 par value, 5,000,000 shares authorized, 5,000,000 shares issued and outstanding at March 31, 2024 and March 31, 2023, respectively 500 500
Common stock, $0.0001 par value, 1,400,000,000 shares authorized, 1,116,482,063 and 803,123,748 shares issued and outstanding at March 31, 2024 and March 31, 2023, respectively 111,712 80,377
Additional paid in capital 126,468,749 121,156,733
Stock to be issued 390,024 662,767
Subscription receivable (56,250) (56,250)
Accumulated deficit (183,791,156) (167,533,292)
Total stockholders’ deficit (56,876,421) (45,689,165)
Total liabilities, mezzanine and stockholders’ deficit 27,717,338 32,586,968
Series E Redeemable Convertible Preferred Stock [Member]    
Current liabilities    
Temporary equity, value 1,977,900 2,003,557
Series F Redeemable Convertible Preferred Stock [Member]    
Current liabilities    
Temporary equity, value 43,612,000 43,612,000
Series G Redeemable Convertible Preferred Stock [Member]    
Current liabilities    
Temporary equity, value 432,000
Nonrelated Party [Member]    
Current liabilities    
Accrued interest 107,435 923,387
Notes payable 553,322 671,100
Related Party [Member]    
Current liabilities    
Accrued interest 254,593 219,542
Accrued expenses - related parties 1,116,107 400,306
Notes payable $ 880,412 $ 740,412