Cash Flow

v3.8.0.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
6 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Cash flows from operating activities:    
Net loss $ (7,262,300) $ (5,068,200)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 46,200 26,000
Stock-based compensation 697,600 306,700
Expense related to modification of warrants, including exchange of warrants for common stock 279,700 57,400
Amortization of deferred rent 173,500 (18,100)
Fair value of common stock granted for services 1,392,000 217,000
Fair value of Series B Preferred stock granted for services 0 375,000
Fair value of warrants granted for services 0 227,500
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets 197,000 40,400
Accounts payable and accrued expenses, including accrued interest 466,400 (36,800)
Net cash used in operating activities (4,009,900) (3,873,100)
Cash flows from investing activities:    
Purchases of equipment (1,600) (7,700)
Net cash used in investing activities (1,600) (7,700)
Cash flows from financing activities:    
Net proceeds from issuance of common stock and warrants, including Units 2,947,700 9,537,100
Net proceeds from issuance of Series B Preferred Units 0 278,000
Repayment of capital lease obligations (1,200) (500)
Repayment of notes payable (91,900) (105,200)
Net cash provided by financing activities 2,854,600 9,709,400
Net increase (decrease) in cash and cash equivalents (1,156,900) 5,828,600
Cash and cash equivalents at beginning of period 2,921,300 428,500
Cash and cash equivalents at end of period 1,764,400 6,257,100
Supplemental disclosure of noncash activites:    
Insurance premiums settled by issuing note payable 142,400 117,500
Accrued dividends on Series B Preferred $ 503,600 $ 780,800

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