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Condensed Consolidated Balance Sheets - USD ($)
Dec. 31, 2023
Mar. 31, 2023
Current assets:    
Cash and cash equivalents $ 137,416 $ 10,105,135
Inventory 3,671,533 1,754,852
Prepaid expenses and other receivables 169,174 357,934
VAT receivable 247,788 409,648
Deposit on foreign exchange contract 146,434 909,666
Total current assets 4,372,345 13,537,235
Property and equipment, net of accumulated depreciation 558,697 641,906
Intangible assets, net of accumulated amortization 238,033 384,092
Total assets 5,169,075 14,563,233
Current liabilities:    
Accounts payable 352,483 326,641
Other liabilities and accrued expenses 281,055 130,678
Notes payable, current portion 19,643,038 16,942,500
Payable to related parties 800,403 920,780
Deferred revenue, current portion 1,184,412 123,640
Foreign exchange contract derivative liability 242,295 731,730
Warrant liability 492,000 3,092,000
Total current liabilities 22,995,686 22,267,969
Notes payable, non-current portion 3,087,651
Deferred revenue, non-current portion 1,021,811
Total liabilities 22,995,686 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 December 31, 2023 and March 31, 2023 28,899 28,899
Additional paid-in capital 40,991,377 40,991,377
Accumulated deficit (57,843,297) (51,875,211)
Accumulated other comprehensive loss (1,003,590) (959,263)
Total stockholders’ deficit (17,826,611) (11,814,198)
Total liabilities and stockholders’ deficit $ 5,169,075 $ 14,563,233