Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED BALANCE SHEETS - USD ($)
Mar. 31, 2019
Mar. 31, 2018
Current assets:    
Cash and cash equivalents $ 13,100,300 $ 10,378,300
Receivable from supplier 300,000 0
Prepaid expenses and other current assets 250,900 644,800
Total current assets 13,651,200 11,023,100
Property and equipment, net 312,700 207,400
Security deposits and other assets 47,800 47,800
Total assets 14,011,700 11,278,300
Current liabilities:    
Accounts payable 1,055,000 1,195,700
Accrued expenses 1,685,600 206,300
Current notes payable 57,300 53,900
Capital lease obligations 3,000 2,600
Total current liabilities 2,800,900 1,458,500
Non-current liabilities:    
Accrued dividends on Series B Preferred Stock 3,748,200 2,608,300
Deferred rent liability 381,100 285,600
Capital lease obligations 6,300 9,300
Total non-current liabilities 4,135,600 2,903,200
Total liabilities 6,936,500 4,361,700
Stockholders' deficit:    
Common stock, $0.001 par value; 100,000,000 shares authorized at March 31, 2019 and 2018 and 42,758,630 and 23,068,280 shares issued and outstanding at March 31, 2019 and March 31, 2018, respectively 42,800 23,100
Additional paid-in capital 192,129,900 167,401,400
Treasury stock, at cost, 135,665 shares of common stock held at March 31, 2019 and 2018 (3,968,100) (3,968,100)
Accumulated deficit (181,133,400) (156,543,800)
Total stockholders' equity (deficit) 7,075,200 6,916,600
Total liabilities and stockholders' equity (deficit) 14,011,700 11,278,300
Series A Preferred Stock [Member]    
Stockholders' deficit:    
Preferred stock 500 500
Total stockholders' equity (deficit) 500 500
Series B Preferred Stock [Member]    
Stockholders' deficit:    
Preferred stock 1,200 1,200
Total stockholders' equity (deficit) 1,200 1,200
Series C Preferred Stock [Member]    
Stockholders' deficit:    
Preferred stock 2,300 2,300
Total stockholders' equity (deficit) $ 2,300 $ 2,300