Quarterly report pursuant to Section 13 or 15(d)

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

v3.22.0.1
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
9 Months Ended
Dec. 31, 2021
REVISION OF PREVIOUSLY ISSUED FINANCIAL STATEMENTS  
Level 3 liabilities

 

 

December 31,

2021

 

 

March 31,

2021

 

Warrant liability balance at beginning of period

 

$ -

 

 

$ 90,000

 

Additions to warrant liability

 

 

5,910,000

 

 

 

-

 

Reclass to equity upon cancellation or exercise

 

 

-

 

 

 

(90,000 )

Change in fair value

 

 

137,000

 

 

 

-

 

Balance at end of period

 

$ 6,047,000

 

 

$ -

 

Buildings

 

39 years

 

Machinery and Equipment

 

7 – 10 years

 

Vehicles

 

10 years

 

Furniture and Fixtures

 

3 – 10 years

 

Useful life property, plant and equipment

 

 

December 31,

2021

 

 

March 31,

2021

 

Derivative liability balance at beginning of period

 

$ -

 

 

$ 176,000

 

Reclass to equity upon conversion or redemption

 

 

-

 

 

 

(205,000 )

Additions to derivatives

 

 

12,985,000

 

 

 

-

 

Change in fair value

 

 

-

 

 

 

29,000

 

Balance at end of period

 

$ 12,985,000

 

 

$ -