Note 2 - Going Concern

9 Months Ended

Dec. 31, 2019

Notes to Financial Statements

Substantial Doubt about Going Concern [Text Block]

Note

2

– Going Concern

The Company’s condensed consolidated financial statements have been prepared assuming the Company will continue as a going concern. The Company has sustained net losses since inception, which have caused an accumulated deficit of $

(

88,764,145

)

at

December 31, 2019

. The Company had a working capital deficit of  

$ (

5,795,395

)

at

December 31, 2019

, compared to

$ (

3,245,409

)

including a deficit of 

$ (

1,133,890

)

from discontinued operations at

March 31, 2019

. In addition, the Company has consumed cash in its operating activities of $

(

4,248,291

)

including $

(

1,244,721

)

from discontinued operations for the

nine

months ended

December 31, 2019

, compared to $

(

7,847,751

)

including $

(

447,852

)

from discontinued operations for the same period last year. These factors, among others, raise substantial doubt about the Company’s ability to continue as a going concern.

Management has been able, thus far, to finance the losses through a public offering, private placements and obtaining operating funds from stockholders. The Company is continuing to seek sources of financing.  There are

no

assurances that the Company will be successful in securing capital necessary to achieve its goals.

In view of these conditions, the Company’s ability to continue as a going concern is dependent upon its ability to obtain additional financing or capital sources, to meet its financing requirements, and ultimately to achieve profitable operations. Management believes that its current and future plans provide an opportunity to continue as a going concern. The accompanying consolidated financial statements do

not

include any adjustments relating to the recoverability and classification of recorded assets, or the amounts and classification of liabilities that

may

be necessary in the event the Company is unable to continue as a going concern.