Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED BALANCE SHEETS - USD ($)
Jun. 30, 2020
Mar. 31, 2020
Current assets:    
Cash and cash equivalents $ 1,545,900 $ 1,355,100
Prepaid expenses and other current assets 633,000 225,100
Total current assets 2,178,900 1,580,200
Property and equipment, net 184,200 209,600
Right of use asset - operating lease 3,492,100 3,579,600
Deferred offering costs 263,900 355,100
Security deposits and other assets 47,800 47,800
Total assets 6,166,900 5,772,300
Current liabilities:    
Accounts payable 1,307,300 1,836,600
Accrued expenses 607,800 561,500
Current notes payable, including accrued interest 428,900 56,500
Operating lease obligation - current portion 325,700 313,400
Financing lease obligation - current portion 3,400 3,300
Total current liabilities 2,673,100 2,771,300
Non-current liabilities:    
Non-current portion of notes payable 124,700 0
Accrued dividends on Series B Preferred Stock 5,347,600 5,011,800
Operating lease obligation - non-current portion 3,631,100 3,715,600
Financing lease obligation - non-current portion 2,100 3,000
Total non-current liabilities 9,105,500 8,730,400
Total liabilities 11,778,600 11,501,700
Commitments and contingencies
Stockholders' equity (deficit):    
Common stock, $0.001 par value; 175,000,000 shares authorized at June 30, 2020 and March 31, 2020; 55,937,472 and 49,348,707 shares issued and outstanding at June 30, 2020 and March 31, 2020, respectively 55,900 49,300
Additional paid-in capital 203,330,700 200,092,800
Treasury stock, at cost, 135,665 shares of common stock held at June 30, 2020 and March 31, 2020 (3,968,100) (3,968,100)
Accumulated deficit (205,034,200) (201,907,400)
Total stockholders' (deficit) equity (5,611,700) (5,729,400)
Total liabilities and stockholders' (deficit) equity 6,166,900 5,772,300
Series A Preferred Stock    
Stockholders' equity (deficit):    
Preferred stock 500 500
Series B Preferred Stock    
Stockholders' equity (deficit):    
Preferred stock 1,200 1,200
Series C Preferred Stock    
Stockholders' equity (deficit):    
Preferred stock $ 2,300 $ 2,300