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Condensed Consolidated Balance Sheets - USD ($)
Sep. 30, 2023
Mar. 31, 2023
Current assets:    
Cash $ 1,378,219 $ 10,105,135
Restricted Cash (Escrow) 3,000,000  
Inventory 2,911,390 1,754,852
Prepaid expenses and other receivables 205,715 357,934
VAT Receivable 286,259 409,648
Deposit on foreign exchange contract 280,896 909,666
Total current assets 8,062,479 13,537,235
Property and equipment, net of accumulated depreciation 582,487 641,906
Intangible assets, net of accumulated amortization 273,673 384,092
Total assets 8,918,639 14,563,233
Current liabilities:    
Accounts payable 418,795 326,641
Other liabilities and accrued expenses 193,125 130,678
Notes payable, current portion 17,551,356 16,942,500
Payable to related parties 95,794 920,780
Deferred revenue, current portion 1,129,481 123,640
Foreign exchange contract derivative liability 544,748 731,730
Warrant liability 1,495,000 3,092,000
Total current liabilities 21,428,299 22,267,969
Notes payable, non-current portion 3,360,301 3,087,651
Deferred revenue, non-current portion 0 1,021,811
Total liabilities 24,788,600 26,377,431
Commitments and contingencies
Stockholders’ deficit:    
Common stock, $0.001 par value, 42,000,000 shares authorized and 28,899,402 shares issued and outstanding at September 30, 2023 and March 31, 2023 28,899 28,899
Additional paid-in capital 40,991,377 40,991,377
Accumulated deficit (55,681,819) (51,875,211)
Accumulated other comprehensive loss (1,208,418) (959,263)
Total stockholders’ deficit (15,869,961) (11,814,198)
Total liabilities and stockholders’ deficit $ 8,918,639 $ 14,563,233