Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
3 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Cash flows from operating activities:    
Net loss $ (6,209,900) $ (4,214,500)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 26,200 15,000
Stock-based compensation 1,063,000 612,600
Amortization of fair value of common stock issued for services 69,100 145,000
Amortization of fair value of warrants granted for services 10,300 0
Changes in operating assets and liabilities:    
Receivable from supplier 300,000 0
Prepaid expenses and other current assets (80,900) 148,500
    Right of use asset - operating lease 81,700 0
    Operating lease liability (61,100) 0
Accounts payable and accrued expenses 40,200 171,700
Deferred rent 0 (13,600)
Net cash used in operating activities (4,761,400) (3,135,300)
Cash flows from investing activities:    
Construction of tenant improvements 0 (35,400)
Net cash used in investing activities 0 (35,400)
Cash flows from financing activities:    
Net proceeds from issuance of common stock and warrants, including Units 0 57,500
Repayment of financing lease obligation (700) (600)
Repayment of notes payable (41,100) (33,300)
Net cash provided by financing activities (41,800) 23,600
Net (decrease) increase in cash and cash equivalents (4,803,200) (3,147,100)
Cash and cash equivalents at beginning of period 13,100,300 10,378,300
Cash and cash equivalents at end of period 8,297,100 7,231,200
Supplemental disclosure of noncash activites:    
Insurance premiums settled by issuing note payable 230,200 160,500
Accrued dividends on Series B Preferred $ 302,500 $ 273,500