Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED BALANCE SHEETS - USD ($)
Sep. 30, 2019
Mar. 31, 2019
Current assets:    
Cash and cash equivalents $ 4,072,400 $ 13,100,300
Receivable from supplier 0 300,000
Prepaid expenses and other current assets 604,500 250,900
Total current assets 4,676,900 13,651,200
Property and equipment, net 260,600 312,700
Right of use asset - operating lease 3,750,200 0
Security deposits and other assets 47,800 47,800
Total assets 8,735,500 14,011,700
Current liabilities:    
Accounts payable 1,449,800 1,055,000
Accrued expenses 2,215,500 1,685,600
Current notes payable 159,300 57,300
Operating lease oligation 289,600 0
Financing lease obligation 3,100 3,000
Total current liabilities 4,117,300 2,800,900
Non-current liabilities:    
Accrued dividends on Series B Preferred Stock 4,364,500 3,748,200
Deferred rent liability 0 381,100
Operating lease obligation 3,879,400 0
Financing lease obligations 4,700 6,300
Total non-current liabilities 8,248,600 4,135,600
Total liabilities 12,365,900 6,936,500
Commitments and contingencies
Stockholders' equity:    
Common stock, $0.001 par value; 175,000,000 and 100,000,000 shares authorized at September 30, 2019 and March 31, 2019, respectively; 42,758,630 shares issued and outstanding at September 30, 2019 and March 31, 2019 42,800 42,800
Additional paid-in capital 192,970,100 192,129,900
Treasury stock, at cost, 135,665 shares of common stock held at September 30, 2019 and March 31, 2019 (3,968,100) (3,968,100)
Accumulated deficit (192,679,200) (181,133,400)
Total stockholders' equity (3,630,400) 7,075,200
Total liabilities and stockholders' equity 8,735,500 14,011,700
Series A Preferred Stock [Member]    
Stockholders' equity:    
Preferred stock 500 500
Series B Preferred Stock [Member]    
Stockholders' equity:    
Preferred stock 1,200 1,200
Series C Preferred Stock [Member]    
Stockholders' equity:    
Preferred stock $ 2,300 $ 2,300