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10-K true 2025-03-31 --03-31 false 001-37487 Aethlon Medical, Inc. NV 13-3632859 11555 Sorrento Valley Road Suite 203 San Diego CA 92121 619 941-0360 COMMON STOCK, $0.001 PAR VALUE AEMD NASDAQ No No Yes Yes Non-accelerated Filer true false false false false 6650000 2585316 Risk management and strategy <span class="xdx_phnt_RGlzY2xvc3VyZSAtIEN5YmVyc2VjdXJpdHkgUmlzayBNYW5hZ2VtZW50IGFuZCBTdHJhdGVneSBEaXNjbG9zdXJlAA__" id="xdx_90D_ecyd--CybersecurityRiskManagementProcessesIntegratedTextBlock_c20240401__20250331_zXuYHJIAPdPh">We have implemented and maintain various information security processes designed to identify, assess and manage material risks from cybersecurity threats to our critical computer networks, third party hosted services, communications systems, hardware and software, and our critical data, including intellectual property, confidential information that is proprietary, strategic or competitive in nature, information related to our clinical trials, and information of our employees, or Information Systems and Data. The Company’s Chief Financial Officer, with assistance from our third-party cybersecurity vendors, is responsible for identifying, assessing, and managing our cybersecurity threats and risks. Together, they identify and assess risks from cybersecurity threats by monitoring and evaluating our threat environment using various methods including, for example, automated tools, evaluating our and our industry’s risk profile, conducting real-time monitoring of certain systems, and implementing escalation protocols with our third-party cybersecurity vendors. Depending on the environment, we implement and maintain various technical, physical, and organizational measures, processes, standards and policies designed to manage and mitigate material risks from cybersecurity threats to our Information Systems and Data, including, for example: an incident response plan; incident detection and response tools; encryption of certain sensitive data and certain data on mobile systems; certain access controls enforcing the principle of need-to-know encryption of certain sensitive data and certain data on mobile systems; physical security measures; asset management, tracking and disposal; monitoring of certain systems; and employee training. Our assessment and management of material risks from cybersecurity threats are integrated into our overall risk management processes. For example, cybersecurity risk is addressed through our quality management system and processes and overseen by our audit committee of the board of directors. We use third-party service providers to assist us from time to time to identify, assess, and manage material risks from cybersecurity threats, including, for example, professional services firms, including legal counsel and certain cybersecurity service providers. <span class="xdx_phnt_RGlzY2xvc3VyZSAtIEN5YmVyc2VjdXJpdHkgUmlzayBNYW5hZ2VtZW50IGFuZCBTdHJhdGVneSBEaXNjbG9zdXJlAA__" id="xdx_906_ecyd--CybersecurityRiskThirdPartyOversightAndIdentificationProcessesFlag_dbT_c20240401__20250331_zz2MxWSxLmZ2">We use <span class="xdx_phnt_RGlzY2xvc3VyZSAtIEN5YmVyc2VjdXJpdHkgUmlzayBNYW5hZ2VtZW50IGFuZCBTdHJhdGVneSBEaXNjbG9zdXJlAA__" id="xdx_90B_ecyd--CybersecurityRiskManagementThirdPartyEngagedFlag_dbT_c20240401__20250331_zxdaQDo0KSS4">third-party service providers to perform a variety of functions throughout our business, such as hosting companies and contract research organizations. We have a vendor management program to manage cybersecurity risks associated with our use of these providers. The program includes conducting a risk assessment for certain vendors. <span class="xdx_phnt_RGlzY2xvc3VyZSAtIEN5YmVyc2VjdXJpdHkgUmlzayBNYW5hZ2VtZW50IGFuZCBTdHJhdGVneSBEaXNjbG9zdXJlAA__" id="xdx_904_ecyd--CybersecurityRiskMateriallyAffectedOrReasonablyLikelyToMateriallyAffectRegistrantTextBlock_c20240401__20250331_zezT3fFQOZJ8">For a description of the risks from cybersecurity threats that <span class="xdx_phnt_RGlzY2xvc3VyZSAtIEN5YmVyc2VjdXJpdHkgUmlzayBNYW5hZ2VtZW50IGFuZCBTdHJhdGVneSBEaXNjbG9zdXJlAA__" id="xdx_900_ecyd--CybersecurityRiskMateriallyAffectedOrReasonablyLikelyToMateriallyAffectRegistrantFlag_dbT_c20240401__20250331_zrvIBpH2pkd8">may materially affect the Company and how they may do so, see our risk factors under Part 1. Item 1A. Risk Factors in this Annual Report on Form 10-K, including “If our information technology systems, or those of third parties with whom we work, or our data are or were compromised, we could experience adverse consequences resulting from such compromise, including but not limited to: regulatory investigations or actions; litigation; fines and penalties; disruptions of our business operations; reputational harm; loss of revenue or profits; and other adverse consequences.” We have implemented and maintain various information security processes designed to identify, assess and manage material risks from cybersecurity threats to our critical computer networks, third party hosted services, communications systems, hardware and software, and our critical data, including intellectual property, confidential information that is proprietary, strategic or competitive in nature, information related to our clinical trials, and information of our employees, or Information Systems and Data. true true For a description of the risks from cybersecurity threats that <span class="xdx_phnt_RGlzY2xvc3VyZSAtIEN5YmVyc2VjdXJpdHkgUmlzayBNYW5hZ2VtZW50IGFuZCBTdHJhdGVneSBEaXNjbG9zdXJlAA__" id="xdx_900_ecyd--CybersecurityRiskMateriallyAffectedOrReasonablyLikelyToMateriallyAffectRegistrantFlag_dbT_c20240401__20250331_zrvIBpH2pkd8">may materially affect the Company and how they may do so, see our risk factors under Part 1. Item 1A. Risk Factors in this Annual Report on Form 10-K true Governance <span class="xdx_phnt_RGlzY2xvc3VyZSAtIEN5YmVyc2VjdXJpdHkgUmlzayBNYW5hZ2VtZW50IGFuZCBTdHJhdGVneSBEaXNjbG9zdXJlAA__" id="xdx_906_ecyd--CybersecurityRiskBoardCommitteeOrSubcommitteeResponsibleForOversightTextBlock_c20240401__20250331_z7f1unu34qjl">Our board of directors addresses the Company’s cybersecurity risk management as part of its general oversight function. The board of directors’ audit committee is responsible for overseeing Company’s cybersecurity risk management processes, including oversight of mitigation of risks from cybersecurity threats. <span class="xdx_phnt_RGlzY2xvc3VyZSAtIEN5YmVyc2VjdXJpdHkgUmlzayBNYW5hZ2VtZW50IGFuZCBTdHJhdGVneSBEaXNjbG9zdXJlAA__" id="xdx_90A_ecyd--CybersecurityRiskRoleOfManagementTextBlock_c20240401__20250331_zKnX1jlRjm3j">Our cybersecurity risk assessment and management processes are implemented and maintained by certain Company management, including the Chief Executive Officer , and Chief Financial Officer. <span class="xdx_phnt_RGlzY2xvc3VyZSAtIEN5YmVyc2VjdXJpdHkgUmlzayBNYW5hZ2VtZW50IGFuZCBTdHJhdGVneSBEaXNjbG9zdXJlAA__" id="xdx_903_ecyd--CybersecurityRiskManagementPositionsOrCommitteesResponsibleTextBlock_c20240401__20250331_zVQdQr2GeU51">The <span class="xdx_phnt_RGlzY2xvc3VyZSAtIEN5YmVyc2VjdXJpdHkgUmlzayBNYW5hZ2VtZW50IGFuZCBTdHJhdGVneSBEaXNjbG9zdXJlAA__" id="xdx_907_ecyd--CybersecurityRiskManagementPositionsOrCommitteesResponsibleFlag_dbT_c20240401__20250331_zaXFThRlXULk">CFO is responsible for hiring appropriate personnel (including selecting third-party cybersecurity vendors), helping to integrate cybersecurity risk considerations into the Company’s overall risk management strategy, and communicating key priorities to relevant personnel. The CFO is responsible for approving budgets, helping prepare for cybersecurity incidents, approving cybersecurity processes, and reviewing security assessments and other security-related reports. <span class="xdx_phnt_RGlzY2xvc3VyZSAtIEN5YmVyc2VjdXJpdHkgUmlzayBNYW5hZ2VtZW50IGFuZCBTdHJhdGVneSBEaXNjbG9zdXJlAA__" id="xdx_90C_ecyd--CybersecurityRiskProcessForInformingManagementOrCommitteesResponsibleTextBlock_c20240401__20250331_z4enBireZoVi">Our cybersecurity incident response plan is designed to escalate certain cybersecurity incidents to members of management depending on the circumstances, including CFO/CEO. The CFO/CEO work with our incident response team to help us mitigate and remediate cybersecurity incidents of which they are notified. In addition, our incident response plan includes reporting to the audit committee of the board of directors for certain cybersecurity incidents. <span class="xdx_phnt_RGlzY2xvc3VyZSAtIEN5YmVyc2VjdXJpdHkgUmlzayBNYW5hZ2VtZW50IGFuZCBTdHJhdGVneSBEaXNjbG9zdXJlAA__" id="xdx_90E_ecyd--CybersecurityRiskManagementPositionsOrCommitteesResponsibleReportToBoardFlag_dbT_c20240401__20250331_zhG3YgIW5X57">The audit committee receives periodic reports from the CFO concerning our significant cybersecurity threats and risk and the processes we have implemented to address them. The audit committee also has access to various reports, summaries or presentations related to cybersecurity threats, risk and mitigation. Our board of directors addresses the Company’s cybersecurity risk management as part of its general oversight function. The board of directors’ audit committee is responsible for overseeing Company’s cybersecurity risk management processes, including oversight of mitigation of risks from cybersecurity threats. Our cybersecurity risk assessment and management processes are implemented and maintained by certain Company management, including the Chief Executive Officer , and Chief Financial Officer. The <span class="xdx_phnt_RGlzY2xvc3VyZSAtIEN5YmVyc2VjdXJpdHkgUmlzayBNYW5hZ2VtZW50IGFuZCBTdHJhdGVneSBEaXNjbG9zdXJlAA__" id="xdx_907_ecyd--CybersecurityRiskManagementPositionsOrCommitteesResponsibleFlag_dbT_c20240401__20250331_zaXFThRlXULk">CFO is responsible for hiring appropriate personnel (including selecting third-party cybersecurity vendors), helping to integrate cybersecurity risk considerations into the Company’s overall risk management strategy, and communicating key priorities to relevant personnel. The CFO is responsible for approving budgets, helping prepare for cybersecurity incidents, approving cybersecurity processes, and reviewing security assessments and other security-related reports. true Our cybersecurity incident response plan is designed to escalate certain cybersecurity incidents to members of management depending on the circumstances, including CFO/CEO. The CFO/CEO work with our incident response team to help us mitigate and remediate cybersecurity incidents of which they are notified. In addition, our incident response plan includes reporting to the audit committee of the board of directors for certain cybersecurity incidents. true false false false false true true 200 23 Haskell & White LLP Irvine, California Baker Tilly US, LLP San Diego, California

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1. ORGANIZATION, LIQUIDITY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES ORGANIZATION Aethlon Medical, Inc. (“Aethlon,” the “Company,” “we” or “us”) is a medical therapeutic company focused on developing the Hemopurifier, a clinical-stage immunotherapeutic device designed to combat cancer and life-threatening viral infections and with additional potential applications e in organ transplantation and other areas of significant unmet needs. In human studies, 164 sessions with 38 patients, the Hemopurifier was safely utilized and demonstrated the potential to remove life-threatening viruses. In pre-clinical studies, the Hemopurifier has demonstrated the potential to remove harmful exosomes and exosomal particles from biological fluids, utilizing its proprietary lectin-based technology. This action has potential applications in cancer, where exosomes and exosomal particles may promote immune suppression and metastasis, and in life-threatening infectious diseases. The U.S. Food and Drug Administration (“FDA”) has designated the Hemopurifier as a “Breakthrough Device” for two independent indications: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="width: 24px"> </td> <td style="width: 24px">·</td> <td style="text-align: justify">the treatment of individuals with advanced or metastatic cancer who are either unresponsive to or intolerant of standard of care therapy, and with cancer types in which exosomes or exosomal particles have been shown to participate in the development or severity of the disease; and</td></tr> <tr style="vertical-align: top"> <td> </td> <td> </td> <td style="text-align: justify"> </td></tr> <tr style="vertical-align: top"> <td> </td> <td>·</td> <td style="text-align: justify">the treatment of life-threatening viruses that are not addressed with approved therapies.</td></tr> </table> Oncology We believe that the Hemopurifier may be a substantial advancement in the treatment of patients with advanced and metastatic cancer through its design to bind to and remove harmful remove harmful extracellular vesicles particles that promote the growth and spread of tumors. In October 2022, we formed a wholly-owned subsidiary in Australia to initially conduct oncology-related clinical research, then seek regulatory approval and commercialize our Hemopurifier in Australia. We completed an in vitro binding study of extracellular vesicles from cancer patient samples, to provide pre-clinical evidence to support our trial design and translational endpoints. Our study indicated positive results from this study, providing evidence that our Hemopurifier removes extracellular vesicles, or EVs, from plasma. This translational study provides pre-clinical evidence to support our phase 1 safety, feasibility and dose-finding clinical trials of our Hemopurifier in patients with solid tumors who have stable or progressive disease during anti-PD-1 monotherapy treatment, such as Keytruda® or Opdivo®. We have launched in an Australia safety, feasibility and dose-finding clinical trials of the Hemopurifier in cancer patients with solid tumors who have stable or progressive disease during anti-PD-1 monotherapy treatment, such as Keytruda® (pembrolizumab) or Opdivo® (nivolumab). The primary endpoint of the approximately nine to 18-patient, is safety. Exploratory analyses will be conducted to explore the number of HP treatments required to produce sustained reductions of EVs as well as improve anti-tumor T cell activity. We plan to open a similarly designed trial in India. The following three hospitals in Australia have received ethics committee approval, have gone through training on our device and are open for patient enrollment: Royal Adelaide Hospital in Adelaide, Australia and Pindara Private Hospital in the Gold Coast section of Australia and GenesisCare North Shore Hospital in Sydney, Australia. As of 16JUN2025 we have treated three participants in the first of the three treatment cohorts. Once these patients have completed the pre-specified 7-day safety follow-up period, the data will be presented to an independent Data Safety Monitoring Board (DSMB). The DSMB will provide a recommendation to Aethlon senior leadership on advancing to the next cohort where participants will receive 2 HP treatments during the one week treatment period. The Company continues to pursue approval of a similar clinical trial in India. HREC approval has previously been obtained at Medanta Medicity Hospital. Following this a meeting with Subject Expert Committee (SEC) of the India Regulatory Agency CDSCO was held 5JUN2025. We are awaiting the formal approval letter of the CDSCO. The clinical trial at Medanta can commence following a Site Initiation Visit (SIV) by the company’s India CRO, Qualtran. Life-Threatening Viral Infections The Company also believes that the Hemopurifier can be part of the broad-spectrum treatment of life-threatening highly glycosylated, or carbohydrate coated, viruses that are not addressed with an already approved treatment. In small-scale or early feasibility human studies, the Hemopurifier has been used in the past to treat individuals infected with human immunodeficiency virus, or HIV, hepatitis-C and Ebola. Additionally, in vitro, the Hemopurifier has been demonstrated to capture Ebola, Marburg virus, Zika, Lassa, MERS-CoV, Cytomegalovirus, Epstein-Barr, Herpes simplex, Chikungunya, Dengue, West Nile, H1N1 swine flu, H5N1 bird flu, and the reconstructed 1918 Spanish flu virus. In several cases, these studies were conducted in collaboration with leading government or non-government research institutes. The Hemopurifier has previously been studied under FDA and international regulatory frameworks for the treatment of severe SARS-CoV-2 infection. While we terminated our U.S. and India-based COVID-19 studies due to low ICU patient volume and shifting priorities, these programs demonstrated real-world use of the Hemopurifier in critically ill patients. We maintain an open IDE for viral indications to preserve optionality for future outbreaks or emergent pathogens. We have sufficient inventory of Hemopurifiers to support our ongoing oncology trial in Australia as well as any near-term expansion of that study or potential trial activity in India. While we have received FDA approval to begin manufacturing at our San Diego facility under our IDE supplement, we are still awaiting FDA approval of a separate supplement to qualify an additional supplier of a key Hemopurifier component. We continue to work with the FDA on this process. Pre-Clinical Exploration of Additional Clinical Uses for the Hemopurifier The Aethlon R&D laboratory continues to explore potential new indications for the Hemopurifier. We have published in the peer-reviewed journal Transplant Immunology the ability of the device to remove extracellular vesicles and their microRNA cargo from acellular perfusates of discarded kidneys that had undergone normothermic machine perfusion. On May 12, 2025, the results of our pre-clinical ex vivo study entitled “Ex Vivo Removal of CD41 positive platelet microparticles from Plasma by a Medical Device containing a Galanthus nivalis agglutinin (GNA) affinity resin” were published in the pre-print vehicle bioRxiv. This manuscript has been submitted to a peer-reviewed publication for review. Platelet -derived extracellular vesicles (PD-EVs) are the most numerous EV population in the body and are released by platelets in response to a variety of stimuli. The cargo contained within these EVs have been noted to take part in damage to blood vessels, activation of immune cells and spread of tumor cells. Excessive levels of PD-EVs have been implicated in a myriad of diseases including cancer, lupus, systemic sclerosis, multiple sclerosis, Alzheimer’s disease, sepsis, acute and Long COVID. We hypothesized that the Aethlon Hemopurifier which contains a propriety GNA affinity resin would remove platelet derived EVs from plasma. In this experiment two hundred milliliters on donated healthy human plasma were circulated over the Aethlon Hemoupurifier (HP) to simulate a clinical HP session. The study results showed a 98.5% removal of platelet -derived EVs at a timepoint equivalent to a 4-hour HP treatment. The results of this study support the current Australian Clinical Trial in Oncology as well as open the investigation of the Hemopurifier in many indications. Extracellular vesicles have been implicated in the pathogenesis of Long COVID.As we had previously demonstrated removal of extracellular vesicles by the Hemopurifier in a patient with severe acute COVID-19 infection, we hypothesized that patients with Long COVID would have extracellular vesicles with the mannose sugar on their surface that would bind to the affinity resin in our device. We partnered with investigators at the Univ of California San Francisco Medical Center Long COVID clinic to obtain samples from participants with Long COVID as well as controls that had had COVID -10 infection but had recovered. The data to be presented will review the binding of larger and smaller extracellular vesicles to the GNA lectin and the lectin affinity resin, respectively. We believe the data from this pre-clinical study calls for additional study of the Hemopurifier and look forward to receiving feedback from the Long COVID scientific community at the Keystone Symposium. Successful outcomes of human trials will also be required by the regulatory agencies of certain foreign countries where we plan to market and sell the Hemopurifier. Some of our patents may expire before FDA approval or approval in a foreign country, if any, is obtained. However, we believe that certain patent applications and/or other patents issued to us more recently will help protect the proprietary nature of our Hemopurifier treatment technology. We believe that the Hemopurifier may be a substantial advancement in the treatment of patients with advanced and metastatic cancer In addition to the foregoing, we are monitoring closely the impact of inflation, recent bank failures and the war between Russia and Ukraine and the military conflicts in Israel and the surrounding areas, as well as related political and economic responses and counter-responses by various global factors on our business. Given the level of uncertainty regarding the duration and impact of these events on capital markets and the U.S. economy, we are unable to assess the impact on our timelines and future access to capital. The full extent to which inflation, recent bank failures and the ongoing military conflicts will impact our business, results of operations, financial condition, clinical trials and preclinical research will depend on future developments, as well as the economic impact on national and international markets that are highly uncertain. LIQUIDITY AND GOING CONCERN The Company has incurred losses since inception in devoting substantially all of its efforts toward research and development and has an accumulated deficit of $167,954,817 as of March 31, 2025. During the year ended March 31, 2025, the Company generated a net loss of approximately $13,388,000 and the Company expects that it will continue to generate operating losses for the foreseeable future. While the Company has been carrying out certain expense reductions since November 2023; our planned additional expense reductions may not materialize and/or our patient recruitment may occur more rapidly than expected along with the concomitant increases in expenses, therefore there is substantial doubt that our cash on hand will carry the company for 12 months beyond the filing date of the financial statements included in this Annual Report. The Company’s ability to execute its current operating plan depends on its ability to reduce expenses and obtain additional funding via the sale of equity, or other sources of capital. The Company plans to continue actively pursuing financing alternatives, however, there can be no assurance that it will obtain the necessary funding, raising substantial doubt about the Company’s ability to continue as a going concern within one year of the date these financial statements are issued. The accompanying financial statements do not include any adjustments that might result from the outcome of this uncertainty. PRINCIPLES OF CONSOLIDATION The accompanying consolidated financial statements include the accounts of Aethlon Medical, Inc. and its wholly owned subsidiary, Aethlon Medical Australia Pty Ltd.. Operations in our Australian subsidiary is recorded in their functional currency. The results of operations for our Australian subsidiary are translated from functional currency into U.S. dollars. Expenses originally incurred in U.S. dollars are translated using the exchange rate on the transaction date. For expenses in the subsidiary’s functional currency, we use the average exchange rate for the period, as it is not practical to determine the exact rate for each transaction date. Assets and liabilities are translated using the period end exchange rates. The U.S dollar effects that arise from translating the net assets of are recorded in other comprehensive income (loss). All significant inter-company transactions and balances have been eliminated in consolidation. The consolidated financial statements contain all normal recurring accruals and adjustments that, in the opinion of management, are necessary to present fairly the consolidated financial statements as of and for the fiscal years ended March 31, 2025 and 2024, and the consolidated statement of cash flows for the fiscal years ended March 31, 2025 and 2024. RISKS AND UNCERTAINTIES We operate in an industry that is subject to intense competition, government regulation and rapid technological change. Our operations are subject to significant risk and uncertainties including financial, operational, technological, regulatory, and including the potential risk of business failure. USE OF ESTIMATES We prepare our consolidated financial statements in conformity with accounting principles generally accepted in the United States of America, or GAAP, which requires us to make a number of estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements. Such estimates and assumptions affect the reported amounts of expenses during the reporting period. On an ongoing basis, we evaluate estimates and assumptions based upon historical experience and various other factors and circumstances. We believe our estimates and assumptions are reasonable in the circumstances; however, actual results may differ from these estimates under different future conditions. We believe that the estimates and assumptions that are most important to the portrayal of our financial condition and results of operations, in that they require the most difficult, subjective or complex judgments, form the basis for the accounting policies deemed to be most critical to us. CASH AND CASH EQUIVALENTS Accounting standards define “cash and cash equivalents” as any short-term, highly liquid investment that is both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. For the purpose of financial statement presentation, we consider all highly liquid investment instruments with original maturities of three months or less when purchased, or any investment redeemable without penalty or loss of interest to be cash equivalents. Cash is carried at cost, which approximates fair value, and cash equivalents are carried at fair value. As of March 31, 2025 and March 31, 2024 our cash and cash equivalents were comprised of the following instruments: <table cellpadding="0" cellspacing="0" id="xdx_888_eus-gaap--ScheduleOfCashAndCashEquivalentsTableTextBlock_zaLIBFlYylZ6" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - ORGANIZATION, LIQUIDITY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details - Cash and cash equivalents)"> <tr style="vertical-align: bottom"> <td>Schedule of cash and cash equivalents</td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center">For the year ended</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">March 31, 2025</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">March 31, 2024</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 66%; text-align: left">Cash in US bank checking account</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_986_eus-gaap--CashAndCashEquivalentsAtCarryingValue_iI_c20250331__us-gaap--CashAndCashEquivalentsAxis__custom--CashInUSBankMember_zw98me1lmpR9" style="width: 14%; text-align: right" title="Cash and cash equivalents">282,545</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98F_eus-gaap--CashAndCashEquivalentsAtCarryingValue_iI_c20240331__us-gaap--CashAndCashEquivalentsAxis__custom--CashInUSBankMember_zZAuwluUoKsj" style="width: 14%; text-align: right" title="Cash and cash equivalents">697,908</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Cash equivalents held in US Treasury bills</td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_eus-gaap--CashAndCashEquivalentsAtCarryingValue_iI_c20250331__us-gaap--CashAndCashEquivalentsAxis__custom--CashEquivalentsInUSTreasuryBillsMember_zXYpnqdrJn3k" style="text-align: right" title="Cash and cash equivalents">5,157,887</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--CashAndCashEquivalentsAtCarryingValue_iI_c20240331__us-gaap--CashAndCashEquivalentsAxis__custom--CashEquivalentsInUSTreasuryBillsMember_zEmEzQhVIW29" style="text-align: right" title="Cash and cash equivalents">4,736,469</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: left; padding-bottom: 1pt">Cash in Australian bank checking account</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_985_eus-gaap--CashAndCashEquivalentsAtCarryingValue_iI_c20250331__us-gaap--CashAndCashEquivalentsAxis__custom--CashInAustralianBankMember_zTBEwtcWUeq5" style="border-bottom: Black 1pt solid; text-align: right" title="Cash and cash equivalents">60,829</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_983_eus-gaap--CashAndCashEquivalentsAtCarryingValue_iI_c20240331__us-gaap--CashAndCashEquivalentsAxis__custom--CashInAustralianBankMember_zR4BYcmAEWvf" style="border-bottom: Black 1pt solid; text-align: right" title="Cash and cash equivalents">7,601</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Total cash and cash equivalents</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_984_eus-gaap--CashAndCashEquivalentsAtCarryingValue_iI_c20250331_z7pSvOUOUgx4" style="border-bottom: Black 2.5pt double; text-align: right" title="Cash and cash equivalents">5,501,261</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_985_eus-gaap--CashAndCashEquivalentsAtCarryingValue_iI_c20240331_z90YN9lG5O5h" style="border-bottom: Black 2.5pt double; text-align: right" title="Cash and cash equivalents">5,441,978</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> CONCENTRATIONS OF CREDIT RISKS Cash is maintained at one US financial institution in a checking account. Accounts at this institution are secured by the Federal Deposit Insurance Corporation up to $250,000. Our March 31, 2025 cash balances were approximately $130,000 over such insured amount. We do not believe that the Company is exposed to any significant risk with respect to its cash in that checking account. At March 31, 2025, we maintained cash equivalents of approximately $5.2 million in US Treasury bills with maturities of less than three months. We do not believe that the Company is exposed to any significant risk with respect to its cash equivalents since they represent US government risk. Cash is maintained at one Australian financial institution in checking accounts. Accounts at this institution are secured by the Financial Claims Scheme for up to Australian $250,000. Our March 31, 2025 Australian cash balance was below that threshold. RESTRICTED CASH To comply with the terms of our laboratory, office, and manufacturing space leases, we arranged for our former bank, First Republic Bank, to issue two standby letters of credit (L/Cs) totaling $87,506 in favor of the landlord, in lieu of a security deposit. To support the L/Cs, we authorized the withdrawal of $87,506 from our operating accounts and placed the funds in restricted certificates of deposit, which we classified as restricted cash, a long-term asset on our balance sheet. Following the transition of our banking relationship from First Republic Bank to JPMorgan Chase, the standby letters of credit were converted to a money market deposit account with an additional $5,000 buffer. This interest-bearing account had a balance of $97,813 as of March 31, 2025, which we continue to classify as restricted cash. PROPERTY AND EQUIPMENT Property and equipment are stated at cost. Depreciation is computed using the straight-line method over the estimated useful lives of the related assets, which range from two to five years. Repairs and maintenance are charged to expense as incurred while improvements are capitalized. Upon the sale or retirement of property and equipment, the accounts are relieved of the cost and the related accumulated depreciation with any gain or loss included in the consolidated statements of operations. INCOME TAXES Deferred tax assets and liabilities are recognized for the future tax consequences attributable to the difference between the consolidated financial statements and their respective tax basis. Deferred income taxes reflect the net tax effects of (a) temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts reported for income tax purposes, and (b) tax credit carryforwards. We record a valuation allowance for deferred tax assets when, based on our best estimate of taxable income (if any) in the foreseeable future, it is more likely than not that some portion of the deferred tax assets may not be realized. Management has provided a full valuation allowance against the Company’s net deferred tax asset. Tax positions taken or expected to be taken in the course of preparing tax returns are required to be evaluated to determine whether the tax positions are more-likely-than-not to be sustained by the applicable tax authority. Tax positions deemed to not meet a more-likely-than-not threshold would be recorded as tax expense in the current year. There were no uncertain tax positions that require accrual to or disclosure in the consolidated financial statements as of March 31, 2025 and 2024. LONG-LIVED ASSETS Long-lived assets are reviewed for impairment whenever events or changes in circumstances indicate that their carrying amounts may not be recoverable. If the cost basis of a long-lived asset is greater than the projected future undiscounted net cash flows from such asset, an impairment loss is recognized. We believe no impairment charges were necessary during the fiscal years ended March 31, 2025 and 2024. LOSS PER SHARE Basic loss per share is computed by dividing net loss available to common stockholders by the weighted average number of common shares outstanding during the period of computation. Diluted loss per share is computed similar to basic loss per share except that the denominator is increased to include the number of additional common shares that would have been outstanding if potential common shares had been issued, if such additional common shares were dilutive. Since we had net losses for all periods presented, basic and diluted loss per share are the same, and additional potential common shares have been excluded as their effect would be antidilutive. As of March 31, 2025 and 2024, a total of 2,938,170 and 15,504 potential common shares, consisting of shares underlying outstanding stock options, restricted stock units, or RSUs, shares held in abeyance and warrants were excluded as their inclusion would be antidilutive. REVENUE RECOGNITION We did not recognize revenue in fiscal year ended March 31, 2025 or March 31, 2024. STOCK-BASED COMPENSATION Employee stock options and rights to purchase shares under stock participation plans are accounted for under the fair value method. Accordingly, share-based compensation is measured when all granting activities have been completed, generally the grant date, based on the fair value of the award. The exercise price of options is generally equal to the market price of the Company’s common stock (defined as the closing price as quoted on the Nasdaq Capital Market or OTCBB on the date of grant). Compensation cost recognized by the Company includes (a) compensation cost for all equity incentive awards granted prior to April 1, 2006, but not yet vested, based on the grant-date fair value estimated in accordance with the original provisions of the then current accounting standards, and (b) compensation cost for all equity incentive awards granted subsequent to March 31, 2006, based on the grant-date fair value estimated in accordance with the provisions of subsequent accounting standards. We use a Binomial Lattice option pricing model for estimating fair value of options granted (see Note 4). The following table summarizes share-based compensation expenses relating to shares and options granted and the effect on loss per common share during the years ended March 31, 2025 and 2024: <table cellpadding="0" cellspacing="0" id="xdx_889_eus-gaap--ScheduleOfCompensationCostForShareBasedPaymentArrangementsAllocationOfShareBasedCompensationCostsByPlanTableTextBlock_zL72NF2HvVi1" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - ORGANIZATION, LIQUIDITY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details - Stock compensation)"> <tr style="vertical-align: bottom"> <td>Schedule of share-based compensation expenses</td><td> </td> <td colspan="2" id="xdx_494_20240401__20250331_zcLEeiaZXtL2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" id="xdx_492_20230401__20240331_zSAqwmrlToNl" style="text-align: center"> </td><td> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center">Fiscal Years Ended</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">March 31, 2025</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">March 31, 2024</td><td style="padding-bottom: 1pt"> </td></tr> <tr id="xdx_405_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1_i_pp0p0" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 66%; text-align: left; padding-bottom: 1pt">Vesting of Stock Options and Restricted Stock Units</td><td style="width: 1%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 14%; text-align: right">415,234</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 1%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 14%; text-align: right">1,219,370</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--ShareBasedCompensation_i_pp0p0" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Total Stock-Based Compensation Expense</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">415,234</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,219,370</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Weighted average number of common shares outstanding – basic and diluted</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">1,560,839</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">314,097</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Basic and diluted loss per common share</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(0.27</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(3.88</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> </table> We record share-based compensation expenses for awards of stock options and RSUs under ASC 718, Share-based compensation, or ASC 718. For awards to non-employees for periods prior to the adoption of ASU 2018-07, Compensation-Stock Compensation: Improvements to Non-employee Share-Based Payment Accounting, on April 1, 2019, the Company had applied ASC 505-50, Equity – Equity-based payments to non-employees, or ASC 505-50. ASC 718 establishes guidance for the recognition of expenses arising from the issuance of share-based compensation awards at their fair value at the grant date. We recognize share-based compensation expense related to stock options and stock appreciation rights granted to employees, directors and consultants based on the estimated fair value of the awards on the date of grant. We estimate the grant date fair value, and the resulting share-based compensation expense, for stock options that only have service vesting requirements or performance-based vesting requirements without market conditions using the binomial lattice option-pricing model. The grant date fair value of the share-based awards with service vesting requirements is generally recognized on a straight-line basis over the requisite service period, which is generally the vesting period of the respective awards. Determining the appropriate amount to expense for performance-based awards based on the achievement of stated goals requires judgment. The estimate of expense is revised periodically based on the probability of achieving the required performance targets and adjustments are made as appropriate. The cumulative impact of any revisions is reflected in the period of change. If any applicable financial performance goals are not met, no compensation cost is recognized and any previously recognized compensation cost is reversed. For performance-based awards with market conditions, we determine the fair value of awards as of the grant date using a Monte Carlo simulation model. We review share-based compensation on a quarterly basis for changes to the estimate of expected award forfeitures based on actual forfeiture experience. The effect of adjusting the forfeiture rate for all expense amortization after March 31, 2007 is recognized in the period the forfeiture estimate is changed. The effect of forfeiture adjustments for the fiscal year ended March 31, 2025 was insignificant. PATENTS Patents include both foreign and domestic patents. We capitalize the cost of patents, some of which were acquired, and amortize such costs over the shorter of the remaining legal life or their estimated economic life, upon issuance of the patent. The unamortized costs of patents are subject to our review for impairment under our long-lived asset policy above. STOCK PURCHASE WARRANTS In the past we issued warrants for the purchase of shares of our common stock in connection with the issuance of common stock for cash. Warrants issued in connection with common stock for cash, if classified as equity, are considered issued in connection with equity transactions and the warrant fair value is recorded to additional paid-in-capital. RESEARCH AND DEVELOPMENT EXPENSES Our research and development costs are expensed as incurred. We incurred approximately $2,212,000 and $2,520,000 of research and development expenses for the years ended March 31, 2025 and 2024, respectively, which are included in various operating expenses in the accompanying consolidated statements of operations. OFF-BALANCE SHEET ARRANGEMENTS We have not entered into any off-balance sheet arrangements that have or are reasonably likely to have a current or future material effect on our consolidated financial statements. SIGNIFICANT RECENT ACCOUNTING PRONOUNCEMENTS In fiscal year 2025, the Company adopted Accounting Standards Update (ASU) No. 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures. This ASU requires public entities to disclose significant segment expense categories that are regularly provided to the Chief Operating Decision Maker (CODM) and included in the measure of segment profit or loss. The Company operates as a single reportable segment. The adoption of ASU 2023-07 did not impact the Company’s consolidated financial statements but resulted in enhanced footnote disclosures regarding significant segment expenses, as reflected in Note 9 – Segment Reporting. In March 2024, the FASB issued Accounting Standards Update 2024-03, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (“ASU 2024-03”), which requires public business entities to provide enhanced annual and interim disclosures that disaggregate specified income statement expense categories. ASU 2024-03 is effective for annual periods beginning after December 15, 2026, and interim periods within fiscal years beginning after December 15, 2027. The Company is evaluating whether the adoption of this new standard will have a material impact on our disclosures. In March 2024, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update No. 2024-02, Codification Improvements—Amendments to Remove References to the Concepts Statements (“ASU 2024-02”). ASU 2024-02 eliminates various references to the FASB’s Concepts Statements from the FASB Accounting Standards Codification in order to clarify that the Codification represents the authoritative source of generally accepted accounting principles (GAAP) in the United States. The amendments do not alter existing accounting requirements. The guidance is effective for fiscal years, including interim periods within those fiscal years, beginning after December 15, 2024, and early adoption is permitted. This ASU is not expected to have a material impact on the Company’s consolidated financial statements or disclosures. In December 2023, the FASB issued Accounting Standards Update 2023-09, Improvements to Income Tax Disclosures (“ASU 2023-09”), which requires enhanced annual disclosures for specific categories in the rate reconciliation and income taxes paid disaggregated by federal, state and foreign taxes. ASU 2023-09 is effective for public business entities for annual periods beginning after December 15, 2024. The Company is evaluating if the adoption of this new standard will have a material effect on our disclosures. In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments-Credit Losses (Topic 326), Measurement of Credit Losses on Financial Instruments. The adoption of ASU No. 2016-13 for smaller reporting companies that did not previously early adopt was January 1, 2023. The Company maintained US Treasury bills with maturities of less than three months and expects zero credit losses from these securities. As a result, the Company did not record an allowance for expected credit losses.

ORGANIZATION Aethlon Medical, Inc. (“Aethlon,” the “Company,” “we” or “us”) is a medical therapeutic company focused on developing the Hemopurifier, a clinical-stage immunotherapeutic device designed to combat cancer and life-threatening viral infections and with additional potential applications e in organ transplantation and other areas of significant unmet needs. In human studies, 164 sessions with 38 patients, the Hemopurifier was safely utilized and demonstrated the potential to remove life-threatening viruses. In pre-clinical studies, the Hemopurifier has demonstrated the potential to remove harmful exosomes and exosomal particles from biological fluids, utilizing its proprietary lectin-based technology. This action has potential applications in cancer, where exosomes and exosomal particles may promote immune suppression and metastasis, and in life-threatening infectious diseases. The U.S. Food and Drug Administration (“FDA”) has designated the Hemopurifier as a “Breakthrough Device” for two independent indications: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="width: 24px"> </td> <td style="width: 24px">·</td> <td style="text-align: justify">the treatment of individuals with advanced or metastatic cancer who are either unresponsive to or intolerant of standard of care therapy, and with cancer types in which exosomes or exosomal particles have been shown to participate in the development or severity of the disease; and</td></tr> <tr style="vertical-align: top"> <td> </td> <td> </td> <td style="text-align: justify"> </td></tr> <tr style="vertical-align: top"> <td> </td> <td>·</td> <td style="text-align: justify">the treatment of life-threatening viruses that are not addressed with approved therapies.</td></tr> </table> Oncology We believe that the Hemopurifier may be a substantial advancement in the treatment of patients with advanced and metastatic cancer through its design to bind to and remove harmful remove harmful extracellular vesicles particles that promote the growth and spread of tumors. In October 2022, we formed a wholly-owned subsidiary in Australia to initially conduct oncology-related clinical research, then seek regulatory approval and commercialize our Hemopurifier in Australia. We completed an in vitro binding study of extracellular vesicles from cancer patient samples, to provide pre-clinical evidence to support our trial design and translational endpoints. Our study indicated positive results from this study, providing evidence that our Hemopurifier removes extracellular vesicles, or EVs, from plasma. This translational study provides pre-clinical evidence to support our phase 1 safety, feasibility and dose-finding clinical trials of our Hemopurifier in patients with solid tumors who have stable or progressive disease during anti-PD-1 monotherapy treatment, such as Keytruda® or Opdivo®. We have launched in an Australia safety, feasibility and dose-finding clinical trials of the Hemopurifier in cancer patients with solid tumors who have stable or progressive disease during anti-PD-1 monotherapy treatment, such as Keytruda® (pembrolizumab) or Opdivo® (nivolumab). The primary endpoint of the approximately nine to 18-patient, is safety. Exploratory analyses will be conducted to explore the number of HP treatments required to produce sustained reductions of EVs as well as improve anti-tumor T cell activity. We plan to open a similarly designed trial in India. The following three hospitals in Australia have received ethics committee approval, have gone through training on our device and are open for patient enrollment: Royal Adelaide Hospital in Adelaide, Australia and Pindara Private Hospital in the Gold Coast section of Australia and GenesisCare North Shore Hospital in Sydney, Australia. As of 16JUN2025 we have treated three participants in the first of the three treatment cohorts. Once these patients have completed the pre-specified 7-day safety follow-up period, the data will be presented to an independent Data Safety Monitoring Board (DSMB). The DSMB will provide a recommendation to Aethlon senior leadership on advancing to the next cohort where participants will receive 2 HP treatments during the one week treatment period. The Company continues to pursue approval of a similar clinical trial in India. HREC approval has previously been obtained at Medanta Medicity Hospital. Following this a meeting with Subject Expert Committee (SEC) of the India Regulatory Agency CDSCO was held 5JUN2025. We are awaiting the formal approval letter of the CDSCO. The clinical trial at Medanta can commence following a Site Initiation Visit (SIV) by the company’s India CRO, Qualtran. Life-Threatening Viral Infections The Company also believes that the Hemopurifier can be part of the broad-spectrum treatment of life-threatening highly glycosylated, or carbohydrate coated, viruses that are not addressed with an already approved treatment. In small-scale or early feasibility human studies, the Hemopurifier has been used in the past to treat individuals infected with human immunodeficiency virus, or HIV, hepatitis-C and Ebola. Additionally, in vitro, the Hemopurifier has been demonstrated to capture Ebola, Marburg virus, Zika, Lassa, MERS-CoV, Cytomegalovirus, Epstein-Barr, Herpes simplex, Chikungunya, Dengue, West Nile, H1N1 swine flu, H5N1 bird flu, and the reconstructed 1918 Spanish flu virus. In several cases, these studies were conducted in collaboration with leading government or non-government research institutes. The Hemopurifier has previously been studied under FDA and international regulatory frameworks for the treatment of severe SARS-CoV-2 infection. While we terminated our U.S. and India-based COVID-19 studies due to low ICU patient volume and shifting priorities, these programs demonstrated real-world use of the Hemopurifier in critically ill patients. We maintain an open IDE for viral indications to preserve optionality for future outbreaks or emergent pathogens. We have sufficient inventory of Hemopurifiers to support our ongoing oncology trial in Australia as well as any near-term expansion of that study or potential trial activity in India. While we have received FDA approval to begin manufacturing at our San Diego facility under our IDE supplement, we are still awaiting FDA approval of a separate supplement to qualify an additional supplier of a key Hemopurifier component. We continue to work with the FDA on this process. Pre-Clinical Exploration of Additional Clinical Uses for the Hemopurifier The Aethlon R&D laboratory continues to explore potential new indications for the Hemopurifier. We have published in the peer-reviewed journal Transplant Immunology the ability of the device to remove extracellular vesicles and their microRNA cargo from acellular perfusates of discarded kidneys that had undergone normothermic machine perfusion. On May 12, 2025, the results of our pre-clinical ex vivo study entitled “Ex Vivo Removal of CD41 positive platelet microparticles from Plasma by a Medical Device containing a Galanthus nivalis agglutinin (GNA) affinity resin” were published in the pre-print vehicle bioRxiv. This manuscript has been submitted to a peer-reviewed publication for review. Platelet -derived extracellular vesicles (PD-EVs) are the most numerous EV population in the body and are released by platelets in response to a variety of stimuli. The cargo contained within these EVs have been noted to take part in damage to blood vessels, activation of immune cells and spread of tumor cells. Excessive levels of PD-EVs have been implicated in a myriad of diseases including cancer, lupus, systemic sclerosis, multiple sclerosis, Alzheimer’s disease, sepsis, acute and Long COVID. We hypothesized that the Aethlon Hemopurifier which contains a propriety GNA affinity resin would remove platelet derived EVs from plasma. In this experiment two hundred milliliters on donated healthy human plasma were circulated over the Aethlon Hemoupurifier (HP) to simulate a clinical HP session. The study results showed a 98.5% removal of platelet -derived EVs at a timepoint equivalent to a 4-hour HP treatment. The results of this study support the current Australian Clinical Trial in Oncology as well as open the investigation of the Hemopurifier in many indications. Extracellular vesicles have been implicated in the pathogenesis of Long COVID.As we had previously demonstrated removal of extracellular vesicles by the Hemopurifier in a patient with severe acute COVID-19 infection, we hypothesized that patients with Long COVID would have extracellular vesicles with the mannose sugar on their surface that would bind to the affinity resin in our device. We partnered with investigators at the Univ of California San Francisco Medical Center Long COVID clinic to obtain samples from participants with Long COVID as well as controls that had had COVID -10 infection but had recovered. The data to be presented will review the binding of larger and smaller extracellular vesicles to the GNA lectin and the lectin affinity resin, respectively. We believe the data from this pre-clinical study calls for additional study of the Hemopurifier and look forward to receiving feedback from the Long COVID scientific community at the Keystone Symposium. Successful outcomes of human trials will also be required by the regulatory agencies of certain foreign countries where we plan to market and sell the Hemopurifier. Some of our patents may expire before FDA approval or approval in a foreign country, if any, is obtained. However, we believe that certain patent applications and/or other patents issued to us more recently will help protect the proprietary nature of our Hemopurifier treatment technology. We believe that the Hemopurifier may be a substantial advancement in the treatment of patients with advanced and metastatic cancer In addition to the foregoing, we are monitoring closely the impact of inflation, recent bank failures and the war between Russia and Ukraine and the military conflicts in Israel and the surrounding areas, as well as related political and economic responses and counter-responses by various global factors on our business. Given the level of uncertainty regarding the duration and impact of these events on capital markets and the U.S. economy, we are unable to assess the impact on our timelines and future access to capital. The full extent to which inflation, recent bank failures and the ongoing military conflicts will impact our business, results of operations, financial condition, clinical trials and preclinical research will depend on future developments, as well as the economic impact on national and international markets that are highly uncertain.

LIQUIDITY AND GOING CONCERN The Company has incurred losses since inception in devoting substantially all of its efforts toward research and development and has an accumulated deficit of $167,954,817 as of March 31, 2025. During the year ended March 31, 2025, the Company generated a net loss of approximately $13,388,000 and the Company expects that it will continue to generate operating losses for the foreseeable future. While the Company has been carrying out certain expense reductions since November 2023; our planned additional expense reductions may not materialize and/or our patient recruitment may occur more rapidly than expected along with the concomitant increases in expenses, therefore there is substantial doubt that our cash on hand will carry the company for 12 months beyond the filing date of the financial statements included in this Annual Report. The Company’s ability to execute its current operating plan depends on its ability to reduce expenses and obtain additional funding via the sale of equity, or other sources of capital. The Company plans to continue actively pursuing financing alternatives, however, there can be no assurance that it will obtain the necessary funding, raising substantial doubt about the Company’s ability to continue as a going concern within one year of the date these financial statements are issued. The accompanying financial statements do not include any adjustments that might result from the outcome of this uncertainty.

-167954817

PRINCIPLES OF CONSOLIDATION The accompanying consolidated financial statements include the accounts of Aethlon Medical, Inc. and its wholly owned subsidiary, Aethlon Medical Australia Pty Ltd.. Operations in our Australian subsidiary is recorded in their functional currency. The results of operations for our Australian subsidiary are translated from functional currency into U.S. dollars. Expenses originally incurred in U.S. dollars are translated using the exchange rate on the transaction date. For expenses in the subsidiary’s functional currency, we use the average exchange rate for the period, as it is not practical to determine the exact rate for each transaction date. Assets and liabilities are translated using the period end exchange rates. The U.S dollar effects that arise from translating the net assets of are recorded in other comprehensive income (loss). All significant inter-company transactions and balances have been eliminated in consolidation. The consolidated financial statements contain all normal recurring accruals and adjustments that, in the opinion of management, are necessary to present fairly the consolidated financial statements as of and for the fiscal years ended March 31, 2025 and 2024, and the consolidated statement of cash flows for the fiscal years ended March 31, 2025 and 2024.

RISKS AND UNCERTAINTIES We operate in an industry that is subject to intense competition, government regulation and rapid technological change. Our operations are subject to significant risk and uncertainties including financial, operational, technological, regulatory, and including the potential risk of business failure.

USE OF ESTIMATES We prepare our consolidated financial statements in conformity with accounting principles generally accepted in the United States of America, or GAAP, which requires us to make a number of estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements. Such estimates and assumptions affect the reported amounts of expenses during the reporting period. On an ongoing basis, we evaluate estimates and assumptions based upon historical experience and various other factors and circumstances. We believe our estimates and assumptions are reasonable in the circumstances; however, actual results may differ from these estimates under different future conditions. We believe that the estimates and assumptions that are most important to the portrayal of our financial condition and results of operations, in that they require the most difficult, subjective or complex judgments, form the basis for the accounting policies deemed to be most critical to us.

CASH AND CASH EQUIVALENTS Accounting standards define “cash and cash equivalents” as any short-term, highly liquid investment that is both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. For the purpose of financial statement presentation, we consider all highly liquid investment instruments with original maturities of three months or less when purchased, or any investment redeemable without penalty or loss of interest to be cash equivalents. Cash is carried at cost, which approximates fair value, and cash equivalents are carried at fair value. As of March 31, 2025 and March 31, 2024 our cash and cash equivalents were comprised of the following instruments: <table cellpadding="0" cellspacing="0" id="xdx_888_eus-gaap--ScheduleOfCashAndCashEquivalentsTableTextBlock_zaLIBFlYylZ6" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - ORGANIZATION, LIQUIDITY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details - Cash and cash equivalents)"> <tr style="vertical-align: bottom"> <td>Schedule of cash and cash equivalents</td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center">For the year ended</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">March 31, 2025</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">March 31, 2024</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 66%; text-align: left">Cash in US bank checking account</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_986_eus-gaap--CashAndCashEquivalentsAtCarryingValue_iI_c20250331__us-gaap--CashAndCashEquivalentsAxis__custom--CashInUSBankMember_zw98me1lmpR9" style="width: 14%; text-align: right" title="Cash and cash equivalents">282,545</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98F_eus-gaap--CashAndCashEquivalentsAtCarryingValue_iI_c20240331__us-gaap--CashAndCashEquivalentsAxis__custom--CashInUSBankMember_zZAuwluUoKsj" style="width: 14%; text-align: right" title="Cash and cash equivalents">697,908</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Cash equivalents held in US Treasury bills</td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_eus-gaap--CashAndCashEquivalentsAtCarryingValue_iI_c20250331__us-gaap--CashAndCashEquivalentsAxis__custom--CashEquivalentsInUSTreasuryBillsMember_zXYpnqdrJn3k" style="text-align: right" title="Cash and cash equivalents">5,157,887</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--CashAndCashEquivalentsAtCarryingValue_iI_c20240331__us-gaap--CashAndCashEquivalentsAxis__custom--CashEquivalentsInUSTreasuryBillsMember_zEmEzQhVIW29" style="text-align: right" title="Cash and cash equivalents">4,736,469</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: left; padding-bottom: 1pt">Cash in Australian bank checking account</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_985_eus-gaap--CashAndCashEquivalentsAtCarryingValue_iI_c20250331__us-gaap--CashAndCashEquivalentsAxis__custom--CashInAustralianBankMember_zTBEwtcWUeq5" style="border-bottom: Black 1pt solid; text-align: right" title="Cash and cash equivalents">60,829</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_983_eus-gaap--CashAndCashEquivalentsAtCarryingValue_iI_c20240331__us-gaap--CashAndCashEquivalentsAxis__custom--CashInAustralianBankMember_zR4BYcmAEWvf" style="border-bottom: Black 1pt solid; text-align: right" title="Cash and cash equivalents">7,601</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Total cash and cash equivalents</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_984_eus-gaap--CashAndCashEquivalentsAtCarryingValue_iI_c20250331_z7pSvOUOUgx4" style="border-bottom: Black 2.5pt double; text-align: right" title="Cash and cash equivalents">5,501,261</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_985_eus-gaap--CashAndCashEquivalentsAtCarryingValue_iI_c20240331_z90YN9lG5O5h" style="border-bottom: Black 2.5pt double; text-align: right" title="Cash and cash equivalents">5,441,978</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

<table cellpadding="0" cellspacing="0" id="xdx_888_eus-gaap--ScheduleOfCashAndCashEquivalentsTableTextBlock_zaLIBFlYylZ6" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - ORGANIZATION, LIQUIDITY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details - Cash and cash equivalents)"> <tr style="vertical-align: bottom"> <td>Schedule of cash and cash equivalents</td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center">For the year ended</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">March 31, 2025</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">March 31, 2024</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 66%; text-align: left">Cash in US bank checking account</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_986_eus-gaap--CashAndCashEquivalentsAtCarryingValue_iI_c20250331__us-gaap--CashAndCashEquivalentsAxis__custom--CashInUSBankMember_zw98me1lmpR9" style="width: 14%; text-align: right" title="Cash and cash equivalents">282,545</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98F_eus-gaap--CashAndCashEquivalentsAtCarryingValue_iI_c20240331__us-gaap--CashAndCashEquivalentsAxis__custom--CashInUSBankMember_zZAuwluUoKsj" style="width: 14%; text-align: right" title="Cash and cash equivalents">697,908</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Cash equivalents held in US Treasury bills</td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_eus-gaap--CashAndCashEquivalentsAtCarryingValue_iI_c20250331__us-gaap--CashAndCashEquivalentsAxis__custom--CashEquivalentsInUSTreasuryBillsMember_zXYpnqdrJn3k" style="text-align: right" title="Cash and cash equivalents">5,157,887</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--CashAndCashEquivalentsAtCarryingValue_iI_c20240331__us-gaap--CashAndCashEquivalentsAxis__custom--CashEquivalentsInUSTreasuryBillsMember_zEmEzQhVIW29" style="text-align: right" title="Cash and cash equivalents">4,736,469</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: left; padding-bottom: 1pt">Cash in Australian bank checking account</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_985_eus-gaap--CashAndCashEquivalentsAtCarryingValue_iI_c20250331__us-gaap--CashAndCashEquivalentsAxis__custom--CashInAustralianBankMember_zTBEwtcWUeq5" style="border-bottom: Black 1pt solid; text-align: right" title="Cash and cash equivalents">60,829</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_983_eus-gaap--CashAndCashEquivalentsAtCarryingValue_iI_c20240331__us-gaap--CashAndCashEquivalentsAxis__custom--CashInAustralianBankMember_zR4BYcmAEWvf" style="border-bottom: Black 1pt solid; text-align: right" title="Cash and cash equivalents">7,601</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Total cash and cash equivalents</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_984_eus-gaap--CashAndCashEquivalentsAtCarryingValue_iI_c20250331_z7pSvOUOUgx4" style="border-bottom: Black 2.5pt double; text-align: right" title="Cash and cash equivalents">5,501,261</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_985_eus-gaap--CashAndCashEquivalentsAtCarryingValue_iI_c20240331_z90YN9lG5O5h" style="border-bottom: Black 2.5pt double; text-align: right" title="Cash and cash equivalents">5,441,978</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

282545

697908

5157887

4736469

60829

7601

5501261

5441978

CONCENTRATIONS OF CREDIT RISKS Cash is maintained at one US financial institution in a checking account. Accounts at this institution are secured by the Federal Deposit Insurance Corporation up to $250,000. Our March 31, 2025 cash balances were approximately $130,000 over such insured amount. We do not believe that the Company is exposed to any significant risk with respect to its cash in that checking account. At March 31, 2025, we maintained cash equivalents of approximately $5.2 million in US Treasury bills with maturities of less than three months. We do not believe that the Company is exposed to any significant risk with respect to its cash equivalents since they represent US government risk. Cash is maintained at one Australian financial institution in checking accounts. Accounts at this institution are secured by the Financial Claims Scheme for up to Australian $250,000. Our March 31, 2025 Australian cash balance was below that threshold.

130000

5200000

RESTRICTED CASH To comply with the terms of our laboratory, office, and manufacturing space leases, we arranged for our former bank, First Republic Bank, to issue two standby letters of credit (L/Cs) totaling $87,506 in favor of the landlord, in lieu of a security deposit. To support the L/Cs, we authorized the withdrawal of $87,506 from our operating accounts and placed the funds in restricted certificates of deposit, which we classified as restricted cash, a long-term asset on our balance sheet. Following the transition of our banking relationship from First Republic Bank to JPMorgan Chase, the standby letters of credit were converted to a money market deposit account with an additional $5,000 buffer. This interest-bearing account had a balance of $97,813 as of March 31, 2025, which we continue to classify as restricted cash.

87506

5000

97813

PROPERTY AND EQUIPMENT Property and equipment are stated at cost. Depreciation is computed using the straight-line method over the estimated useful lives of the related assets, which range from two to five years. Repairs and maintenance are charged to expense as incurred while improvements are capitalized. Upon the sale or retirement of property and equipment, the accounts are relieved of the cost and the related accumulated depreciation with any gain or loss included in the consolidated statements of operations.

INCOME TAXES Deferred tax assets and liabilities are recognized for the future tax consequences attributable to the difference between the consolidated financial statements and their respective tax basis. Deferred income taxes reflect the net tax effects of (a) temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts reported for income tax purposes, and (b) tax credit carryforwards. We record a valuation allowance for deferred tax assets when, based on our best estimate of taxable income (if any) in the foreseeable future, it is more likely than not that some portion of the deferred tax assets may not be realized. Management has provided a full valuation allowance against the Company’s net deferred tax asset. Tax positions taken or expected to be taken in the course of preparing tax returns are required to be evaluated to determine whether the tax positions are more-likely-than-not to be sustained by the applicable tax authority. Tax positions deemed to not meet a more-likely-than-not threshold would be recorded as tax expense in the current year. There were no uncertain tax positions that require accrual to or disclosure in the consolidated financial statements as of March 31, 2025 and 2024.

LONG-LIVED ASSETS Long-lived assets are reviewed for impairment whenever events or changes in circumstances indicate that their carrying amounts may not be recoverable. If the cost basis of a long-lived asset is greater than the projected future undiscounted net cash flows from such asset, an impairment loss is recognized. We believe no impairment charges were necessary during the fiscal years ended March 31, 2025 and 2024.

LOSS PER SHARE Basic loss per share is computed by dividing net loss available to common stockholders by the weighted average number of common shares outstanding during the period of computation. Diluted loss per share is computed similar to basic loss per share except that the denominator is increased to include the number of additional common shares that would have been outstanding if potential common shares had been issued, if such additional common shares were dilutive. Since we had net losses for all periods presented, basic and diluted loss per share are the same, and additional potential common shares have been excluded as their effect would be antidilutive. As of March 31, 2025 and 2024, a total of 2,938,170 and 15,504 potential common shares, consisting of shares underlying outstanding stock options, restricted stock units, or RSUs, shares held in abeyance and warrants were excluded as their inclusion would be antidilutive.

2938170

15504

REVENUE RECOGNITION We did not recognize revenue in fiscal year ended March 31, 2025 or March 31, 2024.

STOCK-BASED COMPENSATION Employee stock options and rights to purchase shares under stock participation plans are accounted for under the fair value method. Accordingly, share-based compensation is measured when all granting activities have been completed, generally the grant date, based on the fair value of the award. The exercise price of options is generally equal to the market price of the Company’s common stock (defined as the closing price as quoted on the Nasdaq Capital Market or OTCBB on the date of grant). Compensation cost recognized by the Company includes (a) compensation cost for all equity incentive awards granted prior to April 1, 2006, but not yet vested, based on the grant-date fair value estimated in accordance with the original provisions of the then current accounting standards, and (b) compensation cost for all equity incentive awards granted subsequent to March 31, 2006, based on the grant-date fair value estimated in accordance with the provisions of subsequent accounting standards. We use a Binomial Lattice option pricing model for estimating fair value of options granted (see Note 4). The following table summarizes share-based compensation expenses relating to shares and options granted and the effect on loss per common share during the years ended March 31, 2025 and 2024: <table cellpadding="0" cellspacing="0" id="xdx_889_eus-gaap--ScheduleOfCompensationCostForShareBasedPaymentArrangementsAllocationOfShareBasedCompensationCostsByPlanTableTextBlock_zL72NF2HvVi1" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - ORGANIZATION, LIQUIDITY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details - Stock compensation)"> <tr style="vertical-align: bottom"> <td>Schedule of share-based compensation expenses</td><td> </td> <td colspan="2" id="xdx_494_20240401__20250331_zcLEeiaZXtL2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" id="xdx_492_20230401__20240331_zSAqwmrlToNl" style="text-align: center"> </td><td> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center">Fiscal Years Ended</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">March 31, 2025</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">March 31, 2024</td><td style="padding-bottom: 1pt"> </td></tr> <tr id="xdx_405_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1_i_pp0p0" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 66%; text-align: left; padding-bottom: 1pt">Vesting of Stock Options and Restricted Stock Units</td><td style="width: 1%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 14%; text-align: right">415,234</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 1%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 14%; text-align: right">1,219,370</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--ShareBasedCompensation_i_pp0p0" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Total Stock-Based Compensation Expense</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">415,234</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,219,370</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Weighted average number of common shares outstanding – basic and diluted</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">1,560,839</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">314,097</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Basic and diluted loss per common share</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(0.27</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(3.88</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> </table> We record share-based compensation expenses for awards of stock options and RSUs under ASC 718, Share-based compensation, or ASC 718. For awards to non-employees for periods prior to the adoption of ASU 2018-07, Compensation-Stock Compensation: Improvements to Non-employee Share-Based Payment Accounting, on April 1, 2019, the Company had applied ASC 505-50, Equity – Equity-based payments to non-employees, or ASC 505-50. ASC 718 establishes guidance for the recognition of expenses arising from the issuance of share-based compensation awards at their fair value at the grant date. We recognize share-based compensation expense related to stock options and stock appreciation rights granted to employees, directors and consultants based on the estimated fair value of the awards on the date of grant. We estimate the grant date fair value, and the resulting share-based compensation expense, for stock options that only have service vesting requirements or performance-based vesting requirements without market conditions using the binomial lattice option-pricing model. The grant date fair value of the share-based awards with service vesting requirements is generally recognized on a straight-line basis over the requisite service period, which is generally the vesting period of the respective awards. Determining the appropriate amount to expense for performance-based awards based on the achievement of stated goals requires judgment. The estimate of expense is revised periodically based on the probability of achieving the required performance targets and adjustments are made as appropriate. The cumulative impact of any revisions is reflected in the period of change. If any applicable financial performance goals are not met, no compensation cost is recognized and any previously recognized compensation cost is reversed. For performance-based awards with market conditions, we determine the fair value of awards as of the grant date using a Monte Carlo simulation model. We review share-based compensation on a quarterly basis for changes to the estimate of expected award forfeitures based on actual forfeiture experience. The effect of adjusting the forfeiture rate for all expense amortization after March 31, 2007 is recognized in the period the forfeiture estimate is changed. The effect of forfeiture adjustments for the fiscal year ended March 31, 2025 was insignificant.

<table cellpadding="0" cellspacing="0" id="xdx_889_eus-gaap--ScheduleOfCompensationCostForShareBasedPaymentArrangementsAllocationOfShareBasedCompensationCostsByPlanTableTextBlock_zL72NF2HvVi1" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - ORGANIZATION, LIQUIDITY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details - Stock compensation)"> <tr style="vertical-align: bottom"> <td>Schedule of share-based compensation expenses</td><td> </td> <td colspan="2" id="xdx_494_20240401__20250331_zcLEeiaZXtL2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" id="xdx_492_20230401__20240331_zSAqwmrlToNl" style="text-align: center"> </td><td> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center">Fiscal Years Ended</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">March 31, 2025</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">March 31, 2024</td><td style="padding-bottom: 1pt"> </td></tr> <tr id="xdx_405_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1_i_pp0p0" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 66%; text-align: left; padding-bottom: 1pt">Vesting of Stock Options and Restricted Stock Units</td><td style="width: 1%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 14%; text-align: right">415,234</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 1%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 14%; text-align: right">1,219,370</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--ShareBasedCompensation_i_pp0p0" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Total Stock-Based Compensation Expense</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">415,234</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,219,370</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Weighted average number of common shares outstanding – basic and diluted</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">1,560,839</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">314,097</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Basic and diluted loss per common share</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(0.27</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(3.88</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> </table>

415234

1219370

415234

1219370

1560839

314097

-0.27

-3.88

PATENTS Patents include both foreign and domestic patents. We capitalize the cost of patents, some of which were acquired, and amortize such costs over the shorter of the remaining legal life or their estimated economic life, upon issuance of the patent. The unamortized costs of patents are subject to our review for impairment under our long-lived asset policy above.

STOCK PURCHASE WARRANTS In the past we issued warrants for the purchase of shares of our common stock in connection with the issuance of common stock for cash. Warrants issued in connection with common stock for cash, if classified as equity, are considered issued in connection with equity transactions and the warrant fair value is recorded to additional paid-in-capital.

RESEARCH AND DEVELOPMENT EXPENSES Our research and development costs are expensed as incurred. We incurred approximately $2,212,000 and $2,520,000 of research and development expenses for the years ended March 31, 2025 and 2024, respectively, which are included in various operating expenses in the accompanying consolidated statements of operations.

2212000

2520000

OFF-BALANCE SHEET ARRANGEMENTS We have not entered into any off-balance sheet arrangements that have or are reasonably likely to have a current or future material effect on our consolidated financial statements.

SIGNIFICANT RECENT ACCOUNTING PRONOUNCEMENTS In fiscal year 2025, the Company adopted Accounting Standards Update (ASU) No. 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures. This ASU requires public entities to disclose significant segment expense categories that are regularly provided to the Chief Operating Decision Maker (CODM) and included in the measure of segment profit or loss. The Company operates as a single reportable segment. The adoption of ASU 2023-07 did not impact the Company’s consolidated financial statements but resulted in enhanced footnote disclosures regarding significant segment expenses, as reflected in Note 9 – Segment Reporting. In March 2024, the FASB issued Accounting Standards Update 2024-03, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (“ASU 2024-03”), which requires public business entities to provide enhanced annual and interim disclosures that disaggregate specified income statement expense categories. ASU 2024-03 is effective for annual periods beginning after December 15, 2026, and interim periods within fiscal years beginning after December 15, 2027. The Company is evaluating whether the adoption of this new standard will have a material impact on our disclosures. In March 2024, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update No. 2024-02, Codification Improvements—Amendments to Remove References to the Concepts Statements (“ASU 2024-02”). ASU 2024-02 eliminates various references to the FASB’s Concepts Statements from the FASB Accounting Standards Codification in order to clarify that the Codification represents the authoritative source of generally accepted accounting principles (GAAP) in the United States. The amendments do not alter existing accounting requirements. The guidance is effective for fiscal years, including interim periods within those fiscal years, beginning after December 15, 2024, and early adoption is permitted. This ASU is not expected to have a material impact on the Company’s consolidated financial statements or disclosures. In December 2023, the FASB issued Accounting Standards Update 2023-09, Improvements to Income Tax Disclosures (“ASU 2023-09”), which requires enhanced annual disclosures for specific categories in the rate reconciliation and income taxes paid disaggregated by federal, state and foreign taxes. ASU 2023-09 is effective for public business entities for annual periods beginning after December 15, 2024. The Company is evaluating if the adoption of this new standard will have a material effect on our disclosures. In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments-Credit Losses (Topic 326), Measurement of Credit Losses on Financial Instruments. The adoption of ASU No. 2016-13 for smaller reporting companies that did not previously early adopt was January 1, 2023. The Company maintained US Treasury bills with maturities of less than three months and expects zero credit losses from these securities. As a result, the Company did not record an allowance for expected credit losses.

2. PROPERTY AND EQUIPMENT, NET Property and equipment, net, consist of the following: <table cellpadding="0" cellspacing="0" id="xdx_888_eus-gaap--PropertyPlantAndEquipmentTextBlock_zAhN2qy92zDj" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - PROPERTY AND EQUIPMENT, NET (Details)"> <tr style="vertical-align: bottom"> <td>Schedule of property and equipment, net</td><td> </td> <td colspan="2" id="xdx_494_20250331_zgPLLwGycwob" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" id="xdx_496_20240331_ze928f2mfrn4" style="text-align: center"> </td><td> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">March 31, 2025</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">March 31, 2024</td><td style="padding-bottom: 1pt"> </td></tr> <tr id="xdx_402_eus-gaap--FurnitureAndFixturesGross_iI_pp0p0_maPPAEGzYbd_zYurPspqxISh" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 66%; text-align: left">Furniture and office equipment, at cost</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">1,112,648</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">1,112,648</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_408_ecustom--LessDisposals_iNI_pp0p0_di0_msPPAEGzYbd_zyf4wff74sK" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Less: disposals</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(350,670</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">–</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--LeaseholdImprovementsGross_iI_pp0p0_maPPAEGzYbd_zspJuUnPIF3c" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: left; padding-bottom: 1pt">Leasehold improvements</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">893,131</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">893,131</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--PropertyPlantAndEquipmentGross_iTI_pp0p0_mtPPAEGzYbd_maPPAENzTbK_zTJ9PsfYHoma" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Gross property and equipment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,655,109</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,005,779</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iNI_di_msPPAENzTbK_zPAuKnvlnrE8" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: left; padding-bottom: 1pt">Less: accumulated depreciation</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(978,889</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(990,550</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_400_eus-gaap--PropertyPlantAndEquipmentNet_iTI_mtPPAENzTbK_zgQDoA4z35y4" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Fixed assets, net</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">676,220</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,015,229</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> Depreciation expense for the fiscal years ended March 31, 2025 and 2024 was $339,009 and $358,507, respectively. During the year ended March 31, 2025, the Company disposed of fully depreciated property and equipment with an original cost of $350,670. These disposals had no impact on net income, as the assets were fully depreciated at the time of removal. The reduction in gross property and equipment reflects the Company’s ongoing review and retirement of inactive or obsolete assets.

<table cellpadding="0" cellspacing="0" id="xdx_888_eus-gaap--PropertyPlantAndEquipmentTextBlock_zAhN2qy92zDj" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - PROPERTY AND EQUIPMENT, NET (Details)"> <tr style="vertical-align: bottom"> <td>Schedule of property and equipment, net</td><td> </td> <td colspan="2" id="xdx_494_20250331_zgPLLwGycwob" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" id="xdx_496_20240331_ze928f2mfrn4" style="text-align: center"> </td><td> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">March 31, 2025</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">March 31, 2024</td><td style="padding-bottom: 1pt"> </td></tr> <tr id="xdx_402_eus-gaap--FurnitureAndFixturesGross_iI_pp0p0_maPPAEGzYbd_zYurPspqxISh" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 66%; text-align: left">Furniture and office equipment, at cost</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">1,112,648</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">1,112,648</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_408_ecustom--LessDisposals_iNI_pp0p0_di0_msPPAEGzYbd_zyf4wff74sK" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Less: disposals</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(350,670</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">–</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--LeaseholdImprovementsGross_iI_pp0p0_maPPAEGzYbd_zspJuUnPIF3c" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: left; padding-bottom: 1pt">Leasehold improvements</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">893,131</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">893,131</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--PropertyPlantAndEquipmentGross_iTI_pp0p0_mtPPAEGzYbd_maPPAENzTbK_zTJ9PsfYHoma" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Gross property and equipment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,655,109</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,005,779</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iNI_di_msPPAENzTbK_zPAuKnvlnrE8" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: left; padding-bottom: 1pt">Less: accumulated depreciation</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(978,889</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(990,550</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_400_eus-gaap--PropertyPlantAndEquipmentNet_iTI_mtPPAENzTbK_zgQDoA4z35y4" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Fixed assets, net</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">676,220</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,015,229</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

1112648

350670 -0

893131

1655109

2005779

978889

990550

676220

1015229

339009

358507

350670

3. PATENTS, NET Patents, net consist of the following: <table cellpadding="0" cellspacing="0" id="xdx_88F_eus-gaap--ScheduleOfFiniteLivedIntangibleAssetsTableTextBlock_zgYBgDR5TS9" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - PATENTS, NET (Details)"> <tr style="vertical-align: bottom"> <td>Schedule of patents, net</td><td> </td> <td colspan="2" id="xdx_49F_20250331_zliIRq3omZI8" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" id="xdx_496_20240331_z4EAiUXNB954" style="text-align: center"> </td><td> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">March 31, 2025</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">March 31, 2024</td><td style="padding-bottom: 1pt"> </td></tr> <tr id="xdx_40E_eus-gaap--FiniteLivedPatentsGross_iI_pp0p0_maFLIAGzTN2_zBDjUjFJTTxc" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 66%; text-align: left">Issued patents</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">157,442</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">157,442</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--FiniteLivedIntangibleAssetsAccumulatedAmortization_iNI_pp0p0_di_msFLIAGzTN2_zPvxR4E6zX2k" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Accumulated amortization</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(156,892</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(156,342</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_402_eus-gaap--FiniteLivedIntangibleAssetsNet_iTI_pp0p0_mtFLIANzcFT_zNRTBoOThwYl" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: left; padding-bottom: 2.5pt">Patents, net</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">550</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,100</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> Amortization expense for our capitalized issued patents for each of the fiscal years ended March 31, 2025 and 2024 was $550. As only one capitalized patent remains to be amortized, future amortization expense on patents is estimated to be approximately $550 per year based on the estimated life of the patent. The weighted average remaining life of our remaining capitalized patent is approximately 1.0 year.

<table cellpadding="0" cellspacing="0" id="xdx_88F_eus-gaap--ScheduleOfFiniteLivedIntangibleAssetsTableTextBlock_zgYBgDR5TS9" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - PATENTS, NET (Details)"> <tr style="vertical-align: bottom"> <td>Schedule of patents, net</td><td> </td> <td colspan="2" id="xdx_49F_20250331_zliIRq3omZI8" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" id="xdx_496_20240331_z4EAiUXNB954" style="text-align: center"> </td><td> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">March 31, 2025</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">March 31, 2024</td><td style="padding-bottom: 1pt"> </td></tr> <tr id="xdx_40E_eus-gaap--FiniteLivedPatentsGross_iI_pp0p0_maFLIAGzTN2_zBDjUjFJTTxc" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 66%; text-align: left">Issued patents</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">157,442</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">157,442</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--FiniteLivedIntangibleAssetsAccumulatedAmortization_iNI_pp0p0_di_msFLIAGzTN2_zPvxR4E6zX2k" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Accumulated amortization</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(156,892</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(156,342</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_402_eus-gaap--FiniteLivedIntangibleAssetsNet_iTI_pp0p0_mtFLIANzcFT_zNRTBoOThwYl" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: left; padding-bottom: 2.5pt">Patents, net</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">550</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,100</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

157442

156892

156342

550

1100

550

P1Y

4. EQUITY TRANSACTIONS REVERSE STOCK SPLIT Effective as of the close of business on June 6, 2025 with an effective trading date of June 9, 2025, we effected a 1-for-8 reverse stock split of our then outstanding shares of common stock. Accordingly, each 8 shares of outstanding common stock then held by our stockholders were combined into one share of common stock. Any fractional shares resulting from the reverse split were rounded up to the next whole share. Authorized common stock remained at 60,000,000 shares following the stock split. The accompanying consolidated financial statements and accompanying notes have been retroactively revised to reflect such reverse stock split as if it had occurred on April 1, 2023. All shares and per share amounts have been revised accordingly. WARRANT INDUCEMENT In March 2025, the Company entered into a warrant inducement agreement resulting in the issuance of 1,550,000 new warrants and the modification of 775,000 existing warrants. The fair value of the new warrants and the incremental fair value from the modification totaled $4,612,862 which was recorded as a non-cash inducement expense in other expense and reflected as an increase to additional paid-in capital. ISSUANCES OF COMMON STOCK AND WARRANTS Equity Transactions in the Fiscal Year Ended March 31, 2025. March 2025 Warrant-Based Financing On March 16, 2025, the Company entered into an inducement offer to exercise existing Class A and Class B Warrants (the “Agreement”) with a certain accredited and institutional holder (the “Holder”) of the Company’s outstanding Class A and Class B Warrants issued on May 17, 2024 (the “Existing Warrants”). Pursuant to the Agreement, the Holder, upon exercise, will receive a new unregistered Common Stock Purchase Warrant (“New Warrant”) pursuant to Section 4(a)(2) of the Securities Act of 1933, as amended (“Securities Act”), to purchase up to a number of shares equal to 200% of the number of Warrant Shares issued pursuant to the exercise of Existing Warrants pursuant to this Agreement (the “New Warrant Shares”), which New Warrant shall have an exercise price per share equal to $0.3736, subject to adjustment as provided in the New Warrant, will be exercisable at any time on or after six (6) months from the date of issuance and have a term of exercise of five and one-half (5.5) years from the date of issuance and (ii) a reduction of the exercise price of the Existing Warrants to $0.3736 per share, representing the closing price on March 14, 2025, but only with respect to a cash exercise under the Existing Warrants (as reduced from the current respective exercise price per share as set forth in the Existing Warrants). The closing took place on March 17, 2025. Gross proceeds to the Company from the exercise of the Existing Warrants was $2,316,320, prior to deducting closing costs and placement agent fees as further described below. The Company intends to use the net proceeds from the offering for working capital and general corporate purposes. As a result of the Holder exercising the Existing Warrants, the Company issued an aggregate of 6,200,000 shares of its common stock. The shares underlying the Existing Warrants have all been registered on Form S-1 registration statement (Registration Number 333-278188). The Company agreed to file a resale registration statement registering the shares underlying the Replacement Warrants (“Resale Registration Statement”) within ninety (90) days of the date of the Agreement and to use commercially reasonable best efforts to cause the Resale Registration Statement to be effective on or prior to the 150th calendar day after the date of the Agreement. Subject to the terms of the Agreement, the Company will be required to pay certain liquidated damages if the shares underlying the New Warrants are not filed within the ninety (90) period, as more fully described in the Agreement. The Company further agreed that until sixty (60) days after the closing date of the warrant exercise, it will not (other than in connection with limited enumerated exceptions) issue, enter into any agreement to issue or announce the issuance or proposed issuance of any shares of common stock or common stock equivalents or file any registration statement or any amendment or supplement (other than the registration statement registering the shares underlying the Replacement Warrants). In connection with the transactions contemplated in the Agreement, the Company agreed to pay its placement agent, Maxim Group, LLC (the “Agent”) the following compensation, (i) a cash fee equal to 6.0% of the gross proceeds received by the Company in the transactions contemplated by the Agreement, and (ii) legal fees and out-of-pocket expenses of $15,000. May 2024 Public Offering On May 17, 2024, the Company closed a public offering pursuant to which it sold an aggregate of: (i) <span id="xdx_909_eus-gaap--SaleOfStockNumberOfSharesIssuedInTransaction_c20240516__20240517__us-gaap--SecuritiesFinancingTransactionAxis__custom--May2024PublicOfferingMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonStockMember_zlyYaXHBXst9" title="Sale of stock">306,250 shares of common stock and accompanying Class A warrants to purchase up to <span id="xdx_908_eus-gaap--SaleOfStockNumberOfSharesIssuedInTransaction_c20240516__20240517__us-gaap--SecuritiesFinancingTransactionAxis__custom--May2024PublicOfferingMember__us-gaap--StatementClassOfStockAxis__custom--ClassAWarrantsMember_zj0L45vkNyK7" title="Sale of stock">306,250 shares of common stock and Class B warrants to purchase up to <span id="xdx_90E_eus-gaap--SaleOfStockNumberOfSharesIssuedInTransaction_c20240516__20240517__us-gaap--SecuritiesFinancingTransactionAxis__custom--May2024PublicOfferingMember__us-gaap--StatementClassOfStockAxis__custom--ClassBWarrantsMember_zldDZlmrlnDg" title="Sale of stock">306,250 shares of common stock, at a combined public offering price of $4.64 per share and accompanying warrants; and (ii) in lieu of common stock, pre-funded warrants to purchase <span id="xdx_90A_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_c20240517__us-gaap--SecuritiesFinancingTransactionAxis__custom--May2024PublicOfferingMember__us-gaap--StatementClassOfStockAxis__custom--PrefundedWarrantsMember_zhf0Kz0JzML1" title="Warrants issued">706,250 shares of common stock and accompanying Class A warrants to purchase up to <span id="xdx_905_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_c20240517__us-gaap--SecuritiesFinancingTransactionAxis__custom--May2024PublicOfferingMember__us-gaap--StatementClassOfStockAxis__custom--ClassAWarrantsMember_zQeL38uOqNEc" title="Warrants issued">706,250 shares of common stock and Class B warrants to purchase up to <span id="xdx_903_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_c20240517__us-gaap--SecuritiesFinancingTransactionAxis__custom--May2024PublicOfferingMember__us-gaap--StatementClassOfStockAxis__custom--ClassBWarrantsMember_zAS9nIYpA7jf" title="Warrants issued">706,250 shares of common stock, at a combined public offering price of $0.4.63 per pre-funded warrant and accompanying warrants, which is equal to the public offering price per share of common stock, and accompanying warrants less the $<span id="xdx_90A_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20240517__us-gaap--SecuritiesFinancingTransactionAxis__custom--May2024PublicOfferingMember_z3y9F6g2cZk2" title="Warrants per share exercise price">0.001 per share exercise price of each such pre-funded warrant. All pre-funded warrants issued in the offering were exercised in the quarter ended June 30, 2024. The Class A and Class B warrants each have an exercise price of $<span id="xdx_90E_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20240517__us-gaap--SecuritiesFinancingTransactionAxis__custom--May2024PublicOfferingMember__us-gaap--StatementClassOfStockAxis__custom--ClassBWarrantsMember_zIcQ90Gb7aC4">4.64 per share, are immediately exercisable, and, in the case of Class A warrants, will expire on <span id="xdx_90B_eus-gaap--WarrantsAndRightsOutstandingMaturityDate_iI_dd_c20240517__us-gaap--SecuritiesFinancingTransactionAxis__custom--May2024PublicOfferingMember__us-gaap--StatementClassOfStockAxis__custom--ClassAWarrantsMember_z7u0Rdjfy8j5">May 17, 2029, and in the case of Class B warrants, will expire on <span id="xdx_90F_eus-gaap--WarrantsAndRightsOutstandingMaturityDate_iI_dd_c20240517__us-gaap--SecuritiesFinancingTransactionAxis__custom--May2024PublicOfferingMember__us-gaap--StatementClassOfStockAxis__custom--ClassBWarrantsMember_z1t8YMdlD3o7">May 19, 2025. The exercise price of the Class A and Class B warrants is also subject to adjustment for stock splits, reverse splits, and similar capital transactions as described in such warrants. Maxim Group LLC (“Maxim”), served as the exclusive placement agent in connection with the offering. We paid Maxim a cash fee of 6.5% of the aggregate gross proceeds raised at the closing of the offering, and reimbursement of certain expenses and legal fees in the amount of $<span id="xdx_90A_eus-gaap--PaymentsOfStockIssuanceCosts_c20240516__20240517__us-gaap--SecuritiesFinancingTransactionAxis__custom--May2024PublicOfferingMember__srt--CounterpartyNameAxis__custom--PlacementAgentMember_zary3HRJlZkl" title="Payment of offering costs">100,000. We also issued to designees of Maxim warrants to purchase up to an aggregate of <span id="xdx_90B_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_c20240517__us-gaap--SecuritiesFinancingTransactionAxis__custom--May2024PublicOfferingMember__us-gaap--StatementClassOfStockAxis__custom--PlacementAgentWarrantsMember_z77i2Uf2TLF2" title="Warrants issued">40,500 shares of common stock (the “Placement Agent Warrants”). The Placement Agent Warrants have an exercise price of $<span id="xdx_909_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20240517__us-gaap--SecuritiesFinancingTransactionAxis__custom--May2024PublicOfferingMember__us-gaap--StatementClassOfStockAxis__custom--PlacementAgentWarrantsMember_zu23c8KHUFqe">4.64 per share and have substantially the same terms as the Class A warrants, except the Placement Agent Warrants are not subject to an exercise price reset, are non-exercisable until November 15, 2024, and will expire on <span id="xdx_901_eus-gaap--WarrantsAndRightsOutstandingMaturityDate_iI_dd_c20240517__us-gaap--SecuritiesFinancingTransactionAxis__custom--May2024PublicOfferingMember__us-gaap--StatementClassOfStockAxis__custom--PlacementAgentWarrantsMember_zoR3HHoFpR2" title="Warrants expiry date">May 15, 2029. The gross proceeds from the offering, before deducting the placement agent’s fees and other offering expenses, were approximately $<span id="xdx_903_eus-gaap--ProceedsFromIssuanceInitialPublicOffering_pn5n6_c20240516__20240517__us-gaap--SecuritiesFinancingTransactionAxis__custom--May2024PublicOfferingMember_zSvbz68RAVeb" title="Gross proceeds from offering, before deducting placement fees and other offering expenses">4.7 million. Net proceeds, of the offering, after deducting the placement agent fees and expenses and other offering expenses payable by us, were are approximately $<span id="xdx_90C_eus-gaap--OtherExpenses_pn5n6_c20240516__20240517__us-gaap--SecuritiesFinancingTransactionAxis__custom--May2024PublicOfferingMember_zCzSmx5fbsM9" title="Net proceeds, of offering deducting placement fees and expenses and other offering expenses payable">3.5 million. In June 2024, and holders of Class A and Class B warrants exercised <span id="xdx_90C_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_c20240630__us-gaap--SecuritiesFinancingTransactionAxis__custom--May2024PublicOfferingMember__us-gaap--StatementClassOfStockAxis__custom--ClassAWarrantsMember_z3NafUUyEzml" title="Warrants issued">37,500 shares and <span id="xdx_909_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_c20240630__us-gaap--SecuritiesFinancingTransactionAxis__custom--May2024PublicOfferingMember__us-gaap--StatementClassOfStockAxis__custom--ClassBWarrantsMember_zsyKJrqo8yIe" title="Warrants issued">360,000 shares, respectively, for additional proceeds of $<span id="xdx_901_eus-gaap--ProceedsFromIssuanceOrSaleOfEquity_c20240601__20240630__us-gaap--SecuritiesFinancingTransactionAxis__custom--May2024PublicOfferingMember_zFLnVwRREkJi" title="Proceeds from sale of equity">1,844,400. The shares of Common Stock, the Class A and Class B warrants, the pre-funded warrants and the Placement Agent Warrants described above and the underlying shares of Common Stock were offered pursuant to a Registration Statement on Form S-1, as amended (File No. 333-278188) (the “Registration Statement”), which was declared effective by the Securities and Exchange Commission (the “SEC”) on May 15, 2024 RSU Grants to Non-Employee Directors In April 2024, the Compensation Committee of the Board, or Compensation Committee, approved, pursuant to the terms of the Company’s Amended and Restated Non-Employee Director Compensation Policy, or the Director Compensation Policy, the grant of the annual RSUs under the Director Compensation Policy to each of the three non-employee directors of the Company then serving on the Board of Directors of the Company, or Board. The Director Compensation Policy provides for a grant of stock options or $50,000 worth of RSUs at the beginning of each fiscal year for current non-employee directors then serving on the Board, and for a grant of stock options or $75,000 worth of RSUs for a newly elected non-employee director, with each RSU priced at the average for the closing prices for the five days preceding and including the date of grant, or $12.16 per share for the April 2024 RSU grants. As a result, in April 2024 the four eligible directors were each granted an RSU in the amount of <span id="xdx_904_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_c20240401__20250331__srt--CounterpartyNameAxis__custom--Director1Member__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zWvOclFkDZs8" title="RSU's granted"><span id="xdx_90C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_c20240401__20250331__srt--CounterpartyNameAxis__custom--Director2Member__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_z4ypUt1XkZEd" title="RSU's granted"><span id="xdx_90F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_c20240401__20250331__srt--CounterpartyNameAxis__custom--Director3Member__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zZ1MkyT90U1f" title="RSU's granted"><span id="xdx_90F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_c20240401__20250331__srt--CounterpartyNameAxis__custom--Director4Member__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zUCQE3vqhTlf" title="RSU's granted">4,112 shares under the 2020 Plan. <span id="xdx_90A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardTermsOfAward_c20240401__20250331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zile4jBa5eO3" title="Terms of awards">The RSUs are subject to vesting in four equal installments, with 25% of the restricted stock units vesting on each of June 30, 2024, September 30, 2024, December 31, 2024, and March 31, 2025, subject in each case to the director’s Continuous Service (as defined in the 2020 Plan), through such dates. Vesting will terminate upon the director’s termination of Continuous Service prior to any vesting date. There were no vested RSUs outstanding as of March 31, 2025. Equity Transactions in the Fiscal Year Ended March 31, 2024. On March 24, 2022, we entered into an At The Market Offering Agreement, or the 2022 ATM Agreement, with H.C. Wainwright & Co., LLC, or Wainwright, which established an at-the-market equity program pursuant to which we may offer and sell shares of our common stock from time to time as set forth in the 2022 ATM Agreement. The offering was registered under the Securities Act of 1933, as amended, or the Securities Act, pursuant to our shelf registration statement on Form S-3 (Registration Statement No. 333-259909), as previously filed with the Securities and Exchange Commission, or SEC, and declared effective on October 21, 2021. We filed a prospectus supplement, dated March 24, 2022, with the SEC that provides for the sale of shares of our common stock, or the 2022 ATM Shares, having an aggregate offering price of up to $15,000,000, which was subsequently and most recently updated pursuant to our prospectus supplement, dated September 29, 2022, filed with the SEC that provides for the sale of 2022 ATM Shares having an aggregate offering price of up to $6,625,000. As of March 31, 2024, $<span id="xdx_90F_eus-gaap--AvailableForSaleSecuritiesDebtSecurities_iI_c20240331__us-gaap--SecuritiesFinancingTransactionAxis__custom--ATM2022AgreementMember_zP1DZ4HFYlZ9" title="Securities remained available for sale">5,302,617 of 2022 ATM Shares remained available for sale under the 2022 ATM Agreement. The underlying shelf registration statement on Form S-3 expired in October 2024. As a result, we were no longer eligible to sell shares under the 2022 ATM Agreement, which we subsequently terminated following the expiration Under the 2022 ATM Agreement, Wainwright may sell the 2022 ATM Shares by any method permitted by law and deemed to be an “at the market offering” as defined in Rule 415 promulgated under the Securities Act, including sales made directly on the Nasdaq Capital Market, or on any other existing trading market for the 2022 ATM Shares. In addition, under the 2022 ATM Agreement, Wainwright may sell the 2022 ATM Shares in privately negotiated transactions with our consent and in block transactions. Under certain circumstances, we may instruct Wainwright not to sell the 2022 ATM Shares if the sales cannot be effected at or above the price designated by us from time to time. We are not obligated to make any further sales of the 2022 ATM Shares under the 2022 ATM Agreement. The offering of the 2022 ATM Shares pursuant to the 2022 ATM Agreement will terminate upon the termination of the 2022 ATM Agreement by Wainwright or us, as permitted therein. The 2022 ATM Agreement contains customary representations, warranties and agreements by us, and customary indemnification and contribution rights and obligations of the parties. We agreed to pay Wainwright a placement fee of up to 3.0% of the aggregate gross proceeds from each sale of the 2022 ATM Shares. We also agreed to reimburse Wainwright for certain specified expenses in connection with entering into the 2022 ATM Agreement. In the fiscal year ended March 31, 2024, we raised aggregate net proceeds of $<span id="xdx_90D_eus-gaap--ProceedsFromIssuanceOfCommonStock_c20230401__20240331__us-gaap--SecuritiesFinancingTransactionAxis__custom--ATM2022AgreementMember_z4FXQYy9uR8i" title="Proceeds from sale of common stock">1,322,383 net of $<span id="xdx_909_eus-gaap--PaymentsOfStockIssuanceCosts_c20230401__20240331__us-gaap--SecuritiesFinancingTransactionAxis__custom--ATM2022AgreementMember__srt--CounterpartyNameAxis__custom--HcWainwrightMember_zQ9rS2FjBJg4" title="Payment of stock issuance costs">34,118 in commissions to Wainwright and $<span id="xdx_909_eus-gaap--PaymentsOfStockIssuanceCosts_c20230401__20240331__us-gaap--SecuritiesFinancingTransactionAxis__custom--ATM2022AgreementMember_z6kMZLxenvvb" title="Payment of other stock issuance costs">8,202 in other offering expense, through the sale of <span id="xdx_908_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20230401__20240331__us-gaap--SecuritiesFinancingTransactionAxis__custom--ATM2022AgreementMember_zSrBy6u1bgc5" title="Stock issued new, shares issued">37,011 shares of our common stock at an average price of $35.76 per share under the 2022 ATM Agreement. . RSU Grants to Non-Employee Directors In April 2024, the Compensation Committee of the Board, or Compensation Committee, approved, pursuant to the terms of the Company’s Amended and Restated Non-Employee Director Compensation Policy, or the Director Compensation Policy, the grant of the annual RSUs under the Director Compensation Policy to each of the three non-employee directors of the Company then serving on the Board of Directors of the Company, or Board. The Director Compensation Policy provides for a grant of stock options or $50,000 worth of RSUs at the beginning of each fiscal year for current non-employee directors then serving on the Board, and for a grant of stock options or $75,000 worth of RSUs for a newly elected non-employee director, with each RSU priced at the average for the closing prices for the five days preceding and including the date of grant, or $34.40 per share for the April 2023 RSU grants. As a result, in April 2023 the three eligible directors were each granted an RSU in the amount of <span id="xdx_906_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_c20230401__20240331__srt--CounterpartyNameAxis__custom--Director1Member__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zZk3LkAcyZVf" title="Number of shares granted"><span id="xdx_900_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_c20230401__20240331__srt--CounterpartyNameAxis__custom--Director2Member__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zy2SYyVqFGb7" title="Number of shares granted"><span id="xdx_90A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_c20230401__20240331__srt--CounterpartyNameAxis__custom--Director3Member__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zen6ngND6Zp3" title="Number of shares granted">1,454 shares under the 2020 Plan. <span id="xdx_90E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardTermsOfAward_c20230401__20240331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zdr2pceMasgd" title="Terms of awards">The RSUs are subject to vesting in four equal installments, with 25% of the restricted stock units vesting on each of June 30, 2023, September 30, 2023, December 31, 2023, and March 31, 2024, subject in each case to the director’s Continuous Service (as defined in the 2020 Plan), through such dates. Vesting will terminate upon the director’s termination of Continuous Service prior to any vesting date. Unvested RSUs covering <span id="xdx_903_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iI_c20240331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zZanLnDe8ZM5" title="Unvested stock outstanding">611 shares of common stock were outstanding as of March 31, 2024. WARRANTS: During the twelve-months ended March 31, 2025, we issued 2,065,500 warrants in connection with the May, 2024 public offering and <span id="xdx_90A_ecustom--IssuedOfWarrantInducementShares_c20240401__20250331__us-gaap--SecuritiesFinancingTransactionAxis__custom--March2025WarrantInducmentMember_zbhYBUWOuVy8" title="issued of warrant inducement shares">1,550,000 in connection with a March 2025 warrant inducement. We did not issue any warrants during the fiscal year ended March 31, 2024. A summary of the aggregate warrant activity for the years ended March 31, 2025 and 2024 is presented below: <table cellpadding="0" cellspacing="0" id="xdx_89A_eus-gaap--ScheduleOfStockholdersEquityNoteWarrantsOrRightsTextBlock_zE8SqBiS9tD9" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - EQUITY TRANSACTIONS (Details - Warrant activity)"> <tr style="vertical-align: bottom"> <td>Schedule of warrant activity</td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="14" style="border-bottom: Black 1pt solid; text-align: center">Fiscal Year Ended March 31,</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center">2025</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center">2024</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Warrants</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Weighted Average Exercise Price</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Warrants</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Weighted Average Exercise Price</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 44%; text-align: left">Outstanding, beginning of year</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98A_eus-gaap--ClassOfWarrantOrRightOutstanding_iS_c20240401__20250331__us-gaap--AwardTypeAxis__us-gaap--WarrantMember_zInT7gNe9feg" style="width: 11%; text-align: right" title="Warrants outstanding, beginning balance">4,090</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_985_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iS_c20240401__20250331__us-gaap--AwardTypeAxis__us-gaap--WarrantMember_zekYy5faONl7" style="width: 11%; text-align: right" title="Weighted average exercise price, outstanding">20.09</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98F_eus-gaap--ClassOfWarrantOrRightOutstanding_iS_c20230401__20240331__us-gaap--AwardTypeAxis__us-gaap--WarrantMember_zKZz97lqKU48" style="width: 11%; text-align: right" title="Warrants outstanding, beginning balance">4,090</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_987_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iS_c20230401__20240331__us-gaap--AwardTypeAxis__us-gaap--WarrantMember_zjUre0nUeNN8" style="width: 11%; text-align: right" title="Weighted average exercise price, outstanding">20.09</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Granted</td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_c20240401__20250331__us-gaap--AwardTypeAxis__us-gaap--WarrantMember_zLeGKsR3u6C1" style="text-align: right" title="Warrants granted">3,615,500</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_c20240401__20250331__us-gaap--AwardTypeAxis__us-gaap--WarrantMember_zcaFzWtw0LQe" style="text-align: right" title="Weighted average exercise price, granted">3.58</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_d0_c20230401__20240331__us-gaap--AwardTypeAxis__us-gaap--WarrantMember_zf23KoVEDLF8" style="text-align: right" title="Warrants granted">–</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">N/A</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td>Exercised</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercised_iN_di_c20240401__20250331__us-gaap--AwardTypeAxis__us-gaap--WarrantMember_zLcLXBMpabbe" style="text-align: right" title="Warrants exercised">(1,231,305</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td id="xdx_984_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice_c20240401__20250331__us-gaap--AwardTypeAxis__us-gaap--WarrantMember_zv11ernrOa4e" style="text-align: right" title="Weighted average exercise price, exercised">3.92</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercised_iN_di0_c20230401__20240331__us-gaap--AwardTypeAxis__us-gaap--WarrantMember_zhH8b4cFGfvg" style="text-align: right" title="Warrants exercised">–</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">N/A</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Cancelled/Forfeited</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_982_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod_iN_di_c20240401__20250331__us-gaap--AwardTypeAxis__us-gaap--WarrantMember_zgsQ2PRMu6mi" style="border-bottom: Black 1pt solid; text-align: right" title="Warrants cancelled/forfeited">(31,161</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue_c20240401__20250331__us-gaap--AwardTypeAxis__us-gaap--WarrantMember_zWZAVPLKWzd1" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted average exercise price, cancelled/forfeited">25.13</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod_iN_di0_c20230401__20240331__us-gaap--AwardTypeAxis__us-gaap--WarrantMember_zfnCrzBJXDuj" style="border-bottom: Black 1pt solid; text-align: right" title="Warrants cancelled/forfeited">–</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">N/A</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: left; padding-bottom: 2.5pt">Outstanding, end of year</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_983_eus-gaap--ClassOfWarrantOrRightOutstanding_iE_c20240401__20250331__us-gaap--AwardTypeAxis__us-gaap--WarrantMember_z7xDtMULki4c" style="border-bottom: Black 2.5pt double; text-align: right" title="Warrants outstanding, ending balance">2,357,124</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_983_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iE_c20240401__20250331__us-gaap--AwardTypeAxis__us-gaap--WarrantMember_zaANA9dBieh2" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted average exercise price, outstanding">3.55</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98C_eus-gaap--ClassOfWarrantOrRightOutstanding_iE_c20230401__20240331__us-gaap--AwardTypeAxis__us-gaap--WarrantMember_zIETeus6hBL9" style="border-bottom: Black 2.5pt double; text-align: right" title="Warrants outstanding, ending balance">4,090</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_983_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iE_c20230401__20240331__us-gaap--AwardTypeAxis__us-gaap--WarrantMember_zDZ7XSvaQi09" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted average exercise price, outstanding">20.09</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Exercisable, end of year</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_982_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardOtherThanOptionsExercisableNumber_iI_c20250331__us-gaap--AwardTypeAxis__us-gaap--WarrantMember_zi84twuH8XCj" style="border-bottom: Black 2.5pt double; text-align: right" title="Warrants exercisable">2,357,124</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_982_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardOtherThanOptionsExercisableWeightedAverageExercisePrice_iI_c20250331__us-gaap--AwardTypeAxis__us-gaap--WarrantMember_zzXpp3YRBzm1" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted average exercise price, exercisable">3.55</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_989_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardOtherThanOptionsExercisableNumber_c20240331__us-gaap--AwardTypeAxis__us-gaap--WarrantMember_zLbPnXKfaeK7" style="border-bottom: Black 2.5pt double; text-align: right" title="Warrants exercisable">4,090</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_987_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardOtherThanOptionsExercisableWeightedAverageExercisePrice_c20240331__us-gaap--AwardTypeAxis__us-gaap--WarrantMember_z0dQUxr4ADYh" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted average exercise price, exercisable">20.09</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="padding-bottom: 2.5pt">Weighted average estimated fair value of warrants granted</td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt; text-align: right"> </td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">N/A</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt; text-align: right"> </td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">N/A</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> The detail of the warrants outstanding and exercisable as of March 31, 2025 is as follows: <table cellpadding="0" cellspacing="0" id="xdx_89D_ecustom--SummaryOfWarrantActivityExercisableAndOutstandingTableTextBlock_zbS9YvAuakWh" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - EQUITY TRANSACTIONS (Details - Warrants outstanding and exercisable)"> <tr style="vertical-align: bottom"> <td>Schedule of warrant activity exercisable and outstanding</td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center; padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td colspan="9" style="border-bottom: Black 1pt solid; vertical-align: bottom; text-align: center">Warrants Outstanding</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td colspan="5" style="border-bottom: Black 1pt solid; vertical-align: bottom; text-align: center">Warrants Exercisable</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="border-bottom: Black 1pt solid; width: 25%; text-align: center">Range of Exercise Prices</td><td style="width: 1%; padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; width: 1%; text-align: left"> </td><td style="border-bottom: Black 1pt solid; vertical-align: bottom; width: 12%; text-align: center">Number Outstanding</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 1%; padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; width: 1%; text-align: left"> </td><td style="border-bottom: Black 1pt solid; vertical-align: bottom; width: 12%; text-align: center">Weighted Average Remaining Life (Years)</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 1%; padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; width: 1%; text-align: left"> </td><td style="border-bottom: Black 1pt solid; vertical-align: bottom; width: 12%; text-align: center">Weighted Average Exercise Price</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 1%; padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; width: 1%; text-align: left"> </td><td style="border-bottom: Black 1pt solid; vertical-align: bottom; width: 12%; text-align: center">Number Outstanding</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 1%; padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; width: 1%; text-align: left"> </td><td style="border-bottom: Black 1pt solid; vertical-align: bottom; width: 12%; text-align: center">Weighted Average Exercise Price</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: center">$4.64 or Below</td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--ClassOfWarrantOrRightOutstanding_iI_c20250331__us-gaap--AwardTypeAxis__us-gaap--WarrantMember__us-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis__custom--RangeOfExercisePrice1Member_zaJgRo4pA2qa" style="text-align: right" title="Warrants Outstanding">2,357,124</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_907_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsOutstandingWeightedAverageRemainingContractualTerms_dtY_c20240401__20250331__us-gaap--AwardTypeAxis__us-gaap--WarrantMember__us-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis__custom--RangeOfExercisePrice1Member_zGd9Gf2KjSe" title="Weighted Average Remaining Life (Years)">4.63</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_982_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20250331__us-gaap--AwardTypeAxis__us-gaap--WarrantMember__us-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis__custom--RangeOfExercisePrice1Member_z5H4doe3wGwe" style="text-align: right" title="Weighted Average Exercise Price, Outstanding">3.55</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_ecustom--WarrantsExercisable_iI_c20250331__us-gaap--AwardTypeAxis__us-gaap--WarrantMember__us-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis__custom--RangeOfExercisePrice1Member_zrVO76PFy5W8" style="text-align: right" title="Warrants Exercisable">2,357,124</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_987_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageExercisePrice_iI_c20250331__us-gaap--AwardTypeAxis__us-gaap--WarrantMember__us-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis__custom--RangeOfExercisePrice1Member_z73MhWeiXkLf" style="text-align: right" title="Weighted Average Exercise Price, Exercisable">3.55</td><td style="text-align: left"> </td></tr> </table> The detail of the warrants outstanding and exercisable as of March 31, 2024 is as follows: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; text-align: center">Warrants Outstanding</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center">Warrants Exercisable</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; text-align: center">Range of Exercise Prices</td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Number Outstanding</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Weighted Average Remaining Life (Years)</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Weighted Average Exercise Price</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Number Outstanding</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Weighted Average Exercise Price</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 25%; text-align: center">$150.00 or Below</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_984_eus-gaap--ClassOfWarrantOrRightOutstanding_iI_c20240331__us-gaap--AwardTypeAxis__us-gaap--WarrantMember__us-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis__custom--RangeOfExercisePrice2Member_zOZB3VmqhOb4" style="width: 12%; text-align: right" title="Warrants Outstanding">2,531</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right"><span id="xdx_900_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsOutstandingWeightedAverageRemainingContractualTerms_dtY_c20230401__20240331__us-gaap--AwardTypeAxis__us-gaap--WarrantMember__us-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis__custom--RangeOfExercisePrice2Member_z6ar6uSq1Yo7" title="Weighted Average Remaining Life (Years)">0.71</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_981_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20240331__us-gaap--AwardTypeAxis__us-gaap--WarrantMember__us-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis__custom--RangeOfExercisePrice2Member_zm33ft18CJ66" style="width: 12%; text-align: right" title="Weighted Average Exercise Price, Outstanding">125.28</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_985_ecustom--WarrantsExercisable_iI_c20240331__us-gaap--AwardTypeAxis__us-gaap--WarrantMember__us-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis__custom--RangeOfExercisePrice2Member_zUIYMz5QKUmc" style="width: 12%; text-align: right" title="Warrants Exercisable">2,531</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_989_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageExercisePrice_iI_c20240331__us-gaap--AwardTypeAxis__us-gaap--WarrantMember__us-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis__custom--RangeOfExercisePrice2Member_zfA0CsTxgBqe" style="width: 12%; text-align: right" title="Weighted Average Exercise Price, Exercisable">125.28</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: center; padding-bottom: 1pt">$200.00 - $220.00</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_982_eus-gaap--ClassOfWarrantOrRightOutstanding_iI_c20240331__us-gaap--AwardTypeAxis__us-gaap--WarrantMember__us-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis__custom--RangeOfExercisePrice3Member_zei6iirciHql" style="border-bottom: Black 1pt solid; text-align: right" title="Warrants Outstanding">1,559</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_904_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsOutstandingWeightedAverageRemainingContractualTerms_dtY_c20230401__20240331__us-gaap--AwardTypeAxis__us-gaap--WarrantMember__us-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis__custom--RangeOfExercisePrice3Member_zeFGycxUYss" title="Weighted Average Remaining Life (Years)">0.81</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="text-align: left">$</td><td id="xdx_983_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20240331__us-gaap--AwardTypeAxis__us-gaap--WarrantMember__us-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis__custom--RangeOfExercisePrice3Member_zqn7x9YXY2x8" style="text-align: right" title="Weighted Average Exercise Price, Outstanding">218.24</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_981_ecustom--WarrantsExercisable_iI_c20240331__us-gaap--AwardTypeAxis__us-gaap--WarrantMember__us-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis__custom--RangeOfExercisePrice3Member_z1sHIYdBFFDb" style="border-bottom: Black 1pt solid; text-align: right" title="Warrants Exercisable">1,559</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="text-align: left">$</td><td id="xdx_984_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageExercisePrice_iI_c20240331__us-gaap--AwardTypeAxis__us-gaap--WarrantMember__us-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis__custom--RangeOfExercisePrice3Member_z3BCuuYjjGf1" style="text-align: right" title="Weighted Average Exercise Price, Exercisable">218.24</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="padding-bottom: 2.5pt"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_980_eus-gaap--ClassOfWarrantOrRightOutstanding_iI_c20240331__us-gaap--AwardTypeAxis__us-gaap--WarrantMember_zA00EtNIO10f" style="border-bottom: Black 2.5pt double; text-align: right" title="Warrants Outstanding">4,090</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98E_ecustom--WarrantsExercisable_iI_c20240331__us-gaap--AwardTypeAxis__us-gaap--WarrantMember_zDUaEg1G6jid" style="border-bottom: Black 2.5pt double; text-align: right" title="Warrants Exercisable">4,090</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> STOCK-BASED COMPENSATION: 2020 EQUITY INCENTIVE PLAN The 2020 Equity Incentive Plan (the “2020 Plan”) was approved by our stockholders in September 2020 to provide stock-based incentives to attract, retain, and motivate employees, directors, and consultants. The plan initially authorized 21,023 shares of common stock for issuance through stock options, restricted stock units (RSUs), stock bonuses, stock appreciation rights, and other awards. Stockholders approved increases to the share reserve in September 2022 and September 2024, authorizing an additional <span id="xdx_901_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfAdditionalSharesAuthorized_c20220901__20220930_z2MYKhEAHQp8" title="Additional shares authorized for issuance during period">22,500 and <span id="xdx_90E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfAdditionalSharesAuthorized_c20240901__20240930_z3wcUCAYvTva" title="Additional shares authorized for issuance during period">375,000 shares, respectively. As of March 31, 2025, 390,950 shares remained available for issuance under the 2020 Plan. NON-EMPLOYEE DIRECTOR COMPENSATION POLICY The Company maintains the Director Compensation Policy which provides for cash and equity compensation for persons serving as non-employee directors of the Company. Under this policy, each new non-employee director receives either stock options or a grant of RSUs upon appointment/election, as well as either an annual grant of stock options or of RSUs at the beginning of each fiscal year. The (i) stock options are subject to vesting and (ii) RSUs are subject to vesting and represent the right to be issued on a future date shares of our common stock upon vesting. Please see above under the heading "Equity Transactions in the Fiscal Year Ended March 31, 2025—RSU Grants to Non-Employee Directors" for disclosure regarding equity awards under the Director Compensation Policy during the fiscal year ended March 31, 2025. STOCK OPTION ACTIVITY During the fiscal years ended March 31, 2025 and March 31, 2024, we did not issue stock option grants. Options outstanding that were vested as of March 31, 2025 and options that are expected to vest subsequent to March 31, 2025 are as follows: <table cellpadding="0" cellspacing="0" id="xdx_892_eus-gaap--ScheduleOfShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingTableTextBlock_zbCG1pJrM6F6" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - EQUITY TRANSACTIONS (Details - Option outstanding)"> <tr style="vertical-align: bottom"> <td>Schedule of options outstanding that have vested and are expected to vest</td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Number of Shares</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Weighted Average Exercise Price</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Weighted Average Remaining Contractual Term in Years</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 52%">Vested</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98C_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares_c20240401__20250331__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember_zQ3xzxZEEcX1" style="width: 13%; text-align: right" title="Number of options, vested">5,795</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_c20250331__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember_zEhw1TW4XJJ4" style="width: 13%; text-align: right" title="Weighted average exercise price options vested">132.82</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 13%; text-align: right"><span id="xdx_909_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1_dtY_c20240401__20250331__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember_zUnb9h5iPH69" title="Weighted average remaining contractual term options vested">6.02</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Expected to vest</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber_c20250331__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember_zhqoHzqTruDh" style="border-bottom: Black 1pt solid; text-align: right" title="Number of options, expected to vest">751</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="text-align: left">$</td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageExercisePrice_c20250331__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember_zTSxoqDSjWwa" style="text-align: right" title="Weighted average exercise price options expected to vest">112.80</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_909_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageRemainingContractualTerm1_dtY_c20240401__20250331__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember_zbzjuVo8y337" title="Weighted average remaining contractual term options expected to vest">6.87</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_984_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_c20250331__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember_zIdShKi9xPmf" style="border-bottom: Black 2.5pt double; text-align: right" title="Total options outstanding">6,546</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> The following is a summary of the stock options outstanding at March 31, 2025 and 2024 and the changes during the years then ended: <table cellpadding="0" cellspacing="0" id="xdx_89E_eus-gaap--ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock_zJXx7gNAvwc8" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - EQUITY TRANSACTIONS (Details - Option activity)"> <tr style="vertical-align: bottom"> <td>Schedule of stock option activity</td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="14" style="border-bottom: Black 1pt solid; text-align: center">Fiscal Year Ended March 31,</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center">2025</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center">2024</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Options</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Weighted Average Exercise Price</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Options</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Weighted Average Exercise Price</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 36%; text-align: left">Outstanding, beginning of year</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iS_c20240401__20250331__us-gaap--AwardTypeAxis__us-gaap--OptionMember_zx7vcbkbDZM7" style="width: 13%; text-align: right" title="Stock options outstanding, beginning balance">10,816</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iS_c20240401__20250331__us-gaap--AwardTypeAxis__us-gaap--OptionMember_zocpOeZASxT7" style="width: 13%; text-align: right" title="Weighted average exercise price, beginning price">146.22</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iS_c20230401__20240331__us-gaap--AwardTypeAxis__us-gaap--OptionMember_zT6Qy3OuwHe6" style="width: 13%; text-align: right" title="Stock options outstanding, beginning balance">21,491</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iS_c20230401__20240331__us-gaap--AwardTypeAxis__us-gaap--OptionMember_zS8kirq74TXi" style="width: 13%; text-align: right" title="Weighted average exercise price, beginning price">180.93</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Granted</td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod_d0_c20240401__20250331__us-gaap--AwardTypeAxis__us-gaap--OptionMember_zgu7l0dtSFVk" style="text-align: right" title="Stock options granted">–</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_d0_c20240401__20250331__us-gaap--AwardTypeAxis__us-gaap--OptionMember_zFanu8eqypSc" style="text-align: right" title="Weighted average exercise price, granted">–</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod_d0_c20230401__20240331__us-gaap--AwardTypeAxis__us-gaap--OptionMember_zhhIFQZVP1rh" style="text-align: right" title="Stock options granted">–</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_d0_c20230401__20240331__us-gaap--AwardTypeAxis__us-gaap--OptionMember_zlrbBQBygJB1" style="text-align: right" title="Weighted average exercise price, granted">–</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="padding-bottom: 1pt">Cancelled/Forfeited</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod_iN_di_c20240401__20250331__us-gaap--AwardTypeAxis__us-gaap--OptionMember_zqUZyszHdnhc" style="border-bottom: Black 1pt solid; text-align: right" title="Stock options cancelled/forfeited">(4,270</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td id="xdx_98D_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice_c20240401__20250331__us-gaap--AwardTypeAxis__us-gaap--OptionMember_zDRapqGgbVT4" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted average exercise price, cancelled/forfeited">170.29</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod_iN_di_c20230401__20240331__us-gaap--AwardTypeAxis__us-gaap--OptionMember_zuLkcP6HgsQ9" style="border-bottom: Black 1pt solid; text-align: right" title="Stock options cancelled/forfeited">(10,675</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice_c20230401__20240331__us-gaap--AwardTypeAxis__us-gaap--OptionMember_zLsOVdoH69xk" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted average exercise price, cancelled/forfeited">215.12</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Outstanding, end of year</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iE_c20240401__20250331__us-gaap--AwardTypeAxis__us-gaap--OptionMember_z1Ehtj20HNzj" style="border-bottom: Black 2.5pt double; text-align: right" title="Stock options outstanding, ending balance">6,546</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iE_c20240401__20250331__us-gaap--AwardTypeAxis__us-gaap--OptionMember_zvs0Y4O4fKfl" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted average exercise price, ending price">130.52</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iE_c20230401__20240331__us-gaap--AwardTypeAxis__us-gaap--OptionMember_zdVkYYsDFw6b" style="border-bottom: Black 2.5pt double; text-align: right" title="Stock options outstanding, ending balance">10,816</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iE_c20230401__20240331__us-gaap--AwardTypeAxis__us-gaap--OptionMember_zCabPvGTGuig" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted average exercise price, ending price">146.22</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: left; padding-bottom: 2.5pt">Exercisable, end of year</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_984_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber_c20250331__us-gaap--AwardTypeAxis__us-gaap--OptionMember_zABeEILia3H" style="border-bottom: Black 2.5pt double; text-align: right" title="Stock options exercisable">5,795</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_987_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice_c20250331__us-gaap--AwardTypeAxis__us-gaap--OptionMember_zFFhhhPZoR92" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted average exercise price, exercisable">132.82</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber_c20240331__us-gaap--AwardTypeAxis__us-gaap--OptionMember_zjI5wJ8X45Kl" style="border-bottom: Black 2.5pt double; text-align: right" title="Stock options exercisable">7,236</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice_iI_c20240331__us-gaap--AwardTypeAxis__us-gaap--OptionMember_zvz7MPfR2Hqc" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted average exercise price, exercisable">159.13</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -10pt; padding-left: 10pt; padding-bottom: 2.5pt">Weighted average estimated fair value of options granted</td><td style="padding-bottom: 2.5pt"> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">N/A</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">N/A</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> Effective as of the close of business on June 6, 2025 with an effective trading date of June 9, 2025, the Company effected a 1-for-8 reverse stock split of its common stock. All option share figures, including those for prior periods, have been adjusted retrospectively to reflect the reverse split. Option balances may not tie exactly to prior period filings due to rounding of fractional shares. There were <span id="xdx_90B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod_do_c20240401__20250331__us-gaap--AwardTypeAxis__us-gaap--OptionMember_zL7NQ2wzLjh3" title="Stock option grants"><span id="xdx_904_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod_do_c20230401__20240331__us-gaap--AwardTypeAxis__us-gaap--OptionMember_zciSmNMlWVIl" title="Stock option grants">no stock option grants during the fiscal years ended March 31, 2025 or March 31, 2024. There were <span id="xdx_90D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod_c20240401__20250331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zsLDF1lzpoL2" title="Stock option grants">16,448 RSUs granted during the fiscal year ended March 31, 2025. The weighted average grant date fair value of RSUs granted during the fiscal year ended March 31, 2025 was $<span id="xdx_903_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_c20240401__20250331__us-gaap--AwardTypeAxis__custom--RSUMember_z6afgIaeYpmk" title="Weighted average grant date fair value ofRSUs stock options granted">50,000. There were no stock option exercises during the fiscal years ended March 31, 2025 and 2024. The table below summarizes nonvested stock options as of March 31, 2025 and changes during the year ended March 31, 2025. <table cellpadding="0" cellspacing="0" id="xdx_89B_eus-gaap--ScheduleOfNonvestedShareActivityTableTextBlock_z73KA2bnIeTh" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - EQUITY TRANSACTIONS (Details - Nonvested shares)"> <tr style="vertical-align: bottom"> <td>Schedule of nonvested shares</td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Shares</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Weighted Average Grant Date Fair Value</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 66%; text-align: left">Nonvested stock options at April 1, 2024</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98F_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares_iS_c20240401__20250331_zTU1qfjUxOte" style="width: 14%; text-align: right" title="Nonvested shares outstanding, beginning balance">3,580</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_982_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue_iS_c20240401__20250331_zcdsOS3pbWud" style="width: 14%; text-align: right" title="Weighted average grant date fair value nonvested shares outstanding, beginning balance">120.13</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Vested</td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares_iN_di_c20240401__20250331_zRCCD9XD6Cmg" style="text-align: right" title="Options vested">(1,628</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td id="xdx_98F_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedWeightedAverageGrantDateFairValue_c20240401__20250331_zciM8C1IPXDa" style="text-align: right" title="Weighted average grant date fair value nonvested shares outstanding, vested">138.95</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="padding-bottom: 1pt">Forfeited</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98C_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedNumberOfShares_iN_di_c20240401__20250331_zM38wXmtx6t7" style="border-bottom: Black 1pt solid; text-align: right" title="Options forfeited">(1,201</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="text-align: left">$</td><td id="xdx_98D_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedWeightedAverageGrantDateFairValue_c20240401__20250331_zXuDhF1vBXea" style="text-align: right" title="Weighted average grant date fair value nonvested shares outstanding, forfeited">99.19</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Nonvested stock options at March 31, 2025</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98E_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares_iE_c20240401__20250331_z91xa5f9D7ha" style="border-bottom: Black 2.5pt double; text-align: right" title="Nonvested shares outstanding, ending balance">751</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> The detail of the options outstanding and exercisable as of March 31, 2025 is as follows: <table cellpadding="0" cellspacing="0" id="xdx_894_eus-gaap--ScheduleOfShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeTextBlock_z1zoQ3mrlSH5" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - EQUITY TRANSACTIONS (Details - Options exercisable)"> <tr style="vertical-align: bottom"> <td>Schedule of detail of options outstanding and exercisable by exercise price</td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; text-align: center">Options Outstanding</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center">Options Exercisable</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; text-align: center">Exercise Prices</td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Number Outstanding</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Weighted Average Remaining Life (Years)</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Weighted Average Exercise Price</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Number Outstanding</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Weighted Average Exercise Price</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 30%">$102.40-112.8</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iI_c20250331__us-gaap--AwardTypeAxis__us-gaap--OptionMember__us-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis__custom--ExercisePrice1Member_zZOjP4oniDPl" style="width: 11%; text-align: right" title="Stock options outstanding">5,034</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 11%; text-align: right"><span id="xdx_908_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20240401__20250331__us-gaap--AwardTypeAxis__us-gaap--OptionMember__us-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis__custom--ExercisePrice1Member_zhBzv5wefrGb" title="Weighted average remaining life (years)">6.22 years</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iI_c20250331__us-gaap--AwardTypeAxis__us-gaap--OptionMember__us-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis__custom--ExercisePrice1Member_z0BXmhVj2NHl" style="width: 11%; text-align: right" title="Weighted average exercise price, outstanding">109.17</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber_iI_c20250331__us-gaap--AwardTypeAxis__us-gaap--OptionMember__us-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis__custom--ExercisePrice1Member_zFoa2txEeEt" style="width: 11%; text-align: right" title="Stock options exercisable">4,283</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_983_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice_iI_c20250331__us-gaap--AwardTypeAxis__us-gaap--OptionMember__us-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis__custom--ExercisePrice1Member_zk9jcr41iyEc" style="width: 11%; text-align: right" title="Weighted average exercise price, exercisable">108.54</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="vertical-align: bottom; text-align: left; padding-bottom: 1pt">$201.6</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iI_c20250331__us-gaap--AwardTypeAxis__us-gaap--OptionMember__us-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis__custom--ExercisePrice2Member_zG22Y2nCEFp" style="border-bottom: Black 1pt solid; text-align: right" title="Stock options outstanding">1,512</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_908_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20240401__20250331__us-gaap--AwardTypeAxis__us-gaap--OptionMember__us-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis__custom--ExercisePrice2Member_zQNycMDnr0o" title="Weighted average remaining life (years)">5.76 years</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="text-align: left">$</td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iI_c20250331__us-gaap--AwardTypeAxis__us-gaap--OptionMember__us-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis__custom--ExercisePrice2Member_zxFdAqfkGGTa" style="text-align: right" title="Weighted average exercise price, outstanding">201.60</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber_iI_c20250331__us-gaap--AwardTypeAxis__us-gaap--OptionMember__us-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis__custom--ExercisePrice2Member_zyRaLvKnZVnd" style="border-bottom: Black 1pt solid; text-align: right" title="Stock options exercisable">1,512</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="text-align: left">$</td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice_iI_c20250331__us-gaap--AwardTypeAxis__us-gaap--OptionMember__us-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis__custom--ExercisePrice2Member_zeAqQn0T6uea" style="text-align: right" title="Weighted average exercise price, exercisable">201.60</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iI_c20250331__us-gaap--AwardTypeAxis__us-gaap--OptionMember_zC94hhvMw742" style="border-bottom: Black 2.5pt double; text-align: right" title="Stock options outstanding">6,546</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber_iI_c20250331__us-gaap--AwardTypeAxis__us-gaap--OptionMember_zW9B1DqcldLb" style="border-bottom: Black 2.5pt double; text-align: right" title="Stock options exercisable">5,795</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> We recorded stock-based compensation expense related to RSU issuances and to options granted totaling $415,234 and $1,219,370 for the fiscal years ended March 31, 2025 and 2024, respectively. These expenses were recorded as stock compensation included in payroll and related expenses in the accompanying consolidated statement of operations for the years ended March 31, 2025 and 2024. The table below presents a summary of restricted stock unit activity as of March 31, 2025, and for the year then ended. <table cellpadding="0" cellspacing="0" id="xdx_899_eus-gaap--ScheduleOfNonvestedRestrictedStockUnitsActivityTableTextBlock_zXXapoMKXFP6" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Equity Transactions (Details - RSU activity)"> <tr style="vertical-align: bottom"> <td>Schedule of RSUs</td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Shares</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 83%">Nonvested RSUs at April 1, 2024</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iI_c20240331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zMnTRBqWGX76" style="width: 14%; text-align: right" title="RSUs nonvested">611</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Granted</td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_c20240401__20250331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zES6UzTIvfhk" style="text-align: right" title="RSU's granted">16,448</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td>Vested</td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod_iN_di_c20240401__20250331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zM9kcm1E4Qd2" style="text-align: right" title="RSU's vested">(12,707</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Tax withholding payments or tax equivalent payments for net share settlement of restricted stock units</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_985_eus-gaap--RestrictedStockSharesIssuedNetOfSharesForTaxWithholdings_iN_di_c20240401__20250331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zNg8JowTOi37" style="border-bottom: Black 1pt solid; text-align: right" title="Tax withholding payments, shares">(4,352</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="padding-bottom: 2.5pt">Nonvested RSUs at March 31, 2025</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_987_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iI_d0_c20250331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_z3HliKvS7SC3" style="border-bottom: Black 2.5pt double; text-align: right" title="RSUs nonvested">–</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> Our total stock-based compensation for fiscal years ended March 31, 2025 and 2024 included the following: <table cellpadding="0" cellspacing="0" id="xdx_892_eus-gaap--ScheduleOfShareBasedCompensationActivityTableTextBlock_zMdrbqRnRCE7" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - EQUITY TRANSACTIONS (Details - Stockbased compensation)"> <tr style="vertical-align: bottom"> <td>Schedule of stock-based compensation</td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center">Fiscal Year Ended</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">March 31, 2025</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">March 31, 2024</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 66%; text-align: left">Vesting of restricted stock units</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98B_eus-gaap--ShareBasedCompensation_pp0p0_c20240401__20250331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zhPeLuwzqi25" style="width: 14%; text-align: right" title="Stock based compensation">218,750</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98A_eus-gaap--ShareBasedCompensation_pp0p0_c20230401__20240331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zJ9GdM8q7GIl" style="width: 14%; text-align: right" title="Stock based compensation">206,250</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Vesting of stock options</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_980_eus-gaap--ShareBasedCompensation_pp0p0_c20240401__20250331__us-gaap--AwardTypeAxis__us-gaap--OptionMember_zfeayD7zWUSb" style="border-bottom: Black 1pt solid; text-align: right" title="Stock based compensation">196,484</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98D_eus-gaap--ShareBasedCompensation_pp0p0_c20230401__20240331__us-gaap--AwardTypeAxis__us-gaap--OptionMember_zojx2siIOale" style="border-bottom: Black 1pt solid; text-align: right" title="Stock based compensation">1,013,120</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: left; padding-bottom: 2.5pt">Total Stock-Based Compensation</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_983_eus-gaap--ShareBasedCompensation_pp0p0_c20240401__20250331_zNt4tSHQFMth" style="border-bottom: Black 2.5pt double; text-align: right" title="Stock based compensation">415,234</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_988_eus-gaap--ShareBasedCompensation_pp0p0_c20230401__20240331_zQt7j0hYYhte" style="border-bottom: Black 2.5pt double; text-align: right" title="Stock based compensation">1,219,370</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> We review share-based compensation on a quarterly basis for changes to the estimate of expected award forfeitures based on actual forfeiture experience. The cumulative effect of adjusting the forfeiture rate for all expense amortization is recognized in the period the forfeiture estimate is changed. The effect of forfeiture adjustments for the fiscal year ended March 31, 2025 was insignificant. On March 31, 2025, our outstanding stock options had no intrinsic value since the closing price on that date of $<span id="xdx_909_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageIntrinsicValue_c20240401__20250331_zMMXjAHIlkd2" title="Intrinsic value per share">2.86 per share was below the weighted average exercise price of our outstanding stock options. At March 31, 2025, there was $78,548 of unrecognized compensation cost related to share-based payments, which is expected to be recognized over a weighted average period of <span id="xdx_90F_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1_dtY_c20240401__20250331_zcBB4QaaO8Oe" title="Weighted average period">0.875 years.

1-for-8

60000000

1550000 775000 4612862

Pursuant to the Agreement, the Holder, upon exercise, will receive a new unregistered Common Stock Purchase Warrant (“New Warrant”) pursuant to Section 4(a)(2) of the Securities Act of 1933, as amended (“Securities Act”), to purchase up to a number of shares equal to 200% of the number of Warrant Shares issued pursuant to the exercise of Existing Warrants pursuant to this Agreement (the “New Warrant Shares”), which New Warrant shall have an exercise price per share equal to $0.3736, subject to adjustment as provided in the New Warrant, will be exercisable at any time on or after six (6) months from the date of issuance and have a term of exercise of five and one-half (5.5) years from the date of issuance and (ii) a reduction of the exercise price of the Existing Warrants to $0.3736 per share, representing the closing price on March 14, 2025, but only with respect to a cash exercise under the Existing Warrants (as reduced from the current respective exercise price per share as set forth in the Existing Warrants).

2316320

6200000

15000

306250

4.64

706250

0.001

4.64

2029-05-17

2025-05-19

100000

40500

4.64

2029-05-15

4700000

3500000

37500

360000

1844400

4112

The RSUs are subject to vesting in four equal installments, with 25% of the restricted stock units vesting on each of June 30, 2024, September 30, 2024, December 31, 2024, and March 31, 2025, subject in each case to the director’s Continuous Service (as defined in the 2020 Plan), through such dates. Vesting will terminate upon the director’s termination of Continuous Service prior to any vesting date.

15000000 6625000

5302617

1322383

34118

8202

37011

35.76

1454

The RSUs are subject to vesting in four equal installments, with 25% of the restricted stock units vesting on each of June 30, 2023, September 30, 2023, December 31, 2023, and March 31, 2024, subject in each case to the director’s Continuous Service (as defined in the 2020 Plan), through such dates. Vesting will terminate upon the director’s termination of Continuous Service prior to any vesting date.

611

2065500 1550000

<table cellpadding="0" cellspacing="0" id="xdx_89A_eus-gaap--ScheduleOfStockholdersEquityNoteWarrantsOrRightsTextBlock_zE8SqBiS9tD9" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - EQUITY TRANSACTIONS (Details - Warrant activity)"> <tr style="vertical-align: bottom"> <td>Schedule of warrant activity</td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="14" style="border-bottom: Black 1pt solid; text-align: center">Fiscal Year Ended March 31,</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center">2025</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center">2024</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Warrants</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Weighted Average Exercise Price</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Warrants</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Weighted Average Exercise Price</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 44%; text-align: left">Outstanding, beginning of year</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98A_eus-gaap--ClassOfWarrantOrRightOutstanding_iS_c20240401__20250331__us-gaap--AwardTypeAxis__us-gaap--WarrantMember_zInT7gNe9feg" style="width: 11%; text-align: right" title="Warrants outstanding, beginning balance">4,090</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_985_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iS_c20240401__20250331__us-gaap--AwardTypeAxis__us-gaap--WarrantMember_zekYy5faONl7" style="width: 11%; text-align: right" title="Weighted average exercise price, outstanding">20.09</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98F_eus-gaap--ClassOfWarrantOrRightOutstanding_iS_c20230401__20240331__us-gaap--AwardTypeAxis__us-gaap--WarrantMember_zKZz97lqKU48" style="width: 11%; text-align: right" title="Warrants outstanding, beginning balance">4,090</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_987_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iS_c20230401__20240331__us-gaap--AwardTypeAxis__us-gaap--WarrantMember_zjUre0nUeNN8" style="width: 11%; text-align: right" title="Weighted average exercise price, outstanding">20.09</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Granted</td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_c20240401__20250331__us-gaap--AwardTypeAxis__us-gaap--WarrantMember_zLeGKsR3u6C1" style="text-align: right" title="Warrants granted">3,615,500</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_c20240401__20250331__us-gaap--AwardTypeAxis__us-gaap--WarrantMember_zcaFzWtw0LQe" style="text-align: right" title="Weighted average exercise price, granted">3.58</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_d0_c20230401__20240331__us-gaap--AwardTypeAxis__us-gaap--WarrantMember_zf23KoVEDLF8" style="text-align: right" title="Warrants granted">–</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">N/A</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td>Exercised</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercised_iN_di_c20240401__20250331__us-gaap--AwardTypeAxis__us-gaap--WarrantMember_zLcLXBMpabbe" style="text-align: right" title="Warrants exercised">(1,231,305</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td id="xdx_984_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice_c20240401__20250331__us-gaap--AwardTypeAxis__us-gaap--WarrantMember_zv11ernrOa4e" style="text-align: right" title="Weighted average exercise price, exercised">3.92</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercised_iN_di0_c20230401__20240331__us-gaap--AwardTypeAxis__us-gaap--WarrantMember_zhH8b4cFGfvg" style="text-align: right" title="Warrants exercised">–</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">N/A</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Cancelled/Forfeited</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_982_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod_iN_di_c20240401__20250331__us-gaap--AwardTypeAxis__us-gaap--WarrantMember_zgsQ2PRMu6mi" style="border-bottom: Black 1pt solid; text-align: right" title="Warrants cancelled/forfeited">(31,161</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue_c20240401__20250331__us-gaap--AwardTypeAxis__us-gaap--WarrantMember_zWZAVPLKWzd1" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted average exercise price, cancelled/forfeited">25.13</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod_iN_di0_c20230401__20240331__us-gaap--AwardTypeAxis__us-gaap--WarrantMember_zfnCrzBJXDuj" style="border-bottom: Black 1pt solid; text-align: right" title="Warrants cancelled/forfeited">–</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">N/A</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: left; padding-bottom: 2.5pt">Outstanding, end of year</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_983_eus-gaap--ClassOfWarrantOrRightOutstanding_iE_c20240401__20250331__us-gaap--AwardTypeAxis__us-gaap--WarrantMember_z7xDtMULki4c" style="border-bottom: Black 2.5pt double; text-align: right" title="Warrants outstanding, ending balance">2,357,124</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_983_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iE_c20240401__20250331__us-gaap--AwardTypeAxis__us-gaap--WarrantMember_zaANA9dBieh2" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted average exercise price, outstanding">3.55</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98C_eus-gaap--ClassOfWarrantOrRightOutstanding_iE_c20230401__20240331__us-gaap--AwardTypeAxis__us-gaap--WarrantMember_zIETeus6hBL9" style="border-bottom: Black 2.5pt double; text-align: right" title="Warrants outstanding, ending balance">4,090</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_983_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iE_c20230401__20240331__us-gaap--AwardTypeAxis__us-gaap--WarrantMember_zDZ7XSvaQi09" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted average exercise price, outstanding">20.09</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Exercisable, end of year</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_982_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardOtherThanOptionsExercisableNumber_iI_c20250331__us-gaap--AwardTypeAxis__us-gaap--WarrantMember_zi84twuH8XCj" style="border-bottom: Black 2.5pt double; text-align: right" title="Warrants exercisable">2,357,124</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_982_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardOtherThanOptionsExercisableWeightedAverageExercisePrice_iI_c20250331__us-gaap--AwardTypeAxis__us-gaap--WarrantMember_zzXpp3YRBzm1" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted average exercise price, exercisable">3.55</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_989_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardOtherThanOptionsExercisableNumber_c20240331__us-gaap--AwardTypeAxis__us-gaap--WarrantMember_zLbPnXKfaeK7" style="border-bottom: Black 2.5pt double; text-align: right" title="Warrants exercisable">4,090</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_987_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardOtherThanOptionsExercisableWeightedAverageExercisePrice_c20240331__us-gaap--AwardTypeAxis__us-gaap--WarrantMember_z0dQUxr4ADYh" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted average exercise price, exercisable">20.09</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="padding-bottom: 2.5pt">Weighted average estimated fair value of warrants granted</td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt; text-align: right"> </td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">N/A</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt; text-align: right"> </td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">N/A</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

4090

20.09

4090

20.09

3615500

3.58

1231305

3.92

-0

31161

25.13

-0

2357124

3.55

4090

20.09

2357124 3.55 4090 20.09 <table cellpadding="0" cellspacing="0" id="xdx_89D_ecustom--SummaryOfWarrantActivityExercisableAndOutstandingTableTextBlock_zbS9YvAuakWh" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - EQUITY TRANSACTIONS (Details - Warrants outstanding and exercisable)"> <tr style="vertical-align: bottom"> <td>Schedule of warrant activity exercisable and outstanding</td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center; padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td colspan="9" style="border-bottom: Black 1pt solid; vertical-align: bottom; text-align: center">Warrants Outstanding</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td colspan="5" style="border-bottom: Black 1pt solid; vertical-align: bottom; text-align: center">Warrants Exercisable</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="border-bottom: Black 1pt solid; width: 25%; text-align: center">Range of Exercise Prices</td><td style="width: 1%; padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; width: 1%; text-align: left"> </td><td style="border-bottom: Black 1pt solid; vertical-align: bottom; width: 12%; text-align: center">Number Outstanding</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 1%; padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; width: 1%; text-align: left"> </td><td style="border-bottom: Black 1pt solid; vertical-align: bottom; width: 12%; text-align: center">Weighted Average Remaining Life (Years)</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 1%; padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; width: 1%; text-align: left"> </td><td style="border-bottom: Black 1pt solid; vertical-align: bottom; width: 12%; text-align: center">Weighted Average Exercise Price</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 1%; padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; width: 1%; text-align: left"> </td><td style="border-bottom: Black 1pt solid; vertical-align: bottom; width: 12%; text-align: center">Number Outstanding</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 1%; padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; width: 1%; text-align: left"> </td><td style="border-bottom: Black 1pt solid; vertical-align: bottom; width: 12%; text-align: center">Weighted Average Exercise Price</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: center">$4.64 or Below</td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--ClassOfWarrantOrRightOutstanding_iI_c20250331__us-gaap--AwardTypeAxis__us-gaap--WarrantMember__us-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis__custom--RangeOfExercisePrice1Member_zaJgRo4pA2qa" style="text-align: right" title="Warrants Outstanding">2,357,124</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_907_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsOutstandingWeightedAverageRemainingContractualTerms_dtY_c20240401__20250331__us-gaap--AwardTypeAxis__us-gaap--WarrantMember__us-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis__custom--RangeOfExercisePrice1Member_zGd9Gf2KjSe" title="Weighted Average Remaining Life (Years)">4.63</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_982_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20250331__us-gaap--AwardTypeAxis__us-gaap--WarrantMember__us-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis__custom--RangeOfExercisePrice1Member_z5H4doe3wGwe" style="text-align: right" title="Weighted Average Exercise Price, Outstanding">3.55</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_ecustom--WarrantsExercisable_iI_c20250331__us-gaap--AwardTypeAxis__us-gaap--WarrantMember__us-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis__custom--RangeOfExercisePrice1Member_zrVO76PFy5W8" style="text-align: right" title="Warrants Exercisable">2,357,124</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_987_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageExercisePrice_iI_c20250331__us-gaap--AwardTypeAxis__us-gaap--WarrantMember__us-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis__custom--RangeOfExercisePrice1Member_z73MhWeiXkLf" style="text-align: right" title="Weighted Average Exercise Price, Exercisable">3.55</td><td style="text-align: left"> </td></tr> </table> The detail of the warrants outstanding and exercisable as of March 31, 2024 is as follows: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; text-align: center">Warrants Outstanding</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center">Warrants Exercisable</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; text-align: center">Range of Exercise Prices</td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Number Outstanding</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Weighted Average Remaining Life (Years)</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Weighted Average Exercise Price</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Number Outstanding</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Weighted Average Exercise Price</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 25%; text-align: center">$150.00 or Below</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_984_eus-gaap--ClassOfWarrantOrRightOutstanding_iI_c20240331__us-gaap--AwardTypeAxis__us-gaap--WarrantMember__us-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis__custom--RangeOfExercisePrice2Member_zOZB3VmqhOb4" style="width: 12%; text-align: right" title="Warrants Outstanding">2,531</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right"><span id="xdx_900_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsOutstandingWeightedAverageRemainingContractualTerms_dtY_c20230401__20240331__us-gaap--AwardTypeAxis__us-gaap--WarrantMember__us-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis__custom--RangeOfExercisePrice2Member_z6ar6uSq1Yo7" title="Weighted Average Remaining Life (Years)">0.71</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_981_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20240331__us-gaap--AwardTypeAxis__us-gaap--WarrantMember__us-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis__custom--RangeOfExercisePrice2Member_zm33ft18CJ66" style="width: 12%; text-align: right" title="Weighted Average Exercise Price, Outstanding">125.28</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_985_ecustom--WarrantsExercisable_iI_c20240331__us-gaap--AwardTypeAxis__us-gaap--WarrantMember__us-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis__custom--RangeOfExercisePrice2Member_zUIYMz5QKUmc" style="width: 12%; text-align: right" title="Warrants Exercisable">2,531</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_989_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageExercisePrice_iI_c20240331__us-gaap--AwardTypeAxis__us-gaap--WarrantMember__us-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis__custom--RangeOfExercisePrice2Member_zfA0CsTxgBqe" style="width: 12%; text-align: right" title="Weighted Average Exercise Price, Exercisable">125.28</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: center; padding-bottom: 1pt">$200.00 - $220.00</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_982_eus-gaap--ClassOfWarrantOrRightOutstanding_iI_c20240331__us-gaap--AwardTypeAxis__us-gaap--WarrantMember__us-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis__custom--RangeOfExercisePrice3Member_zei6iirciHql" style="border-bottom: Black 1pt solid; text-align: right" title="Warrants Outstanding">1,559</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_904_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsOutstandingWeightedAverageRemainingContractualTerms_dtY_c20230401__20240331__us-gaap--AwardTypeAxis__us-gaap--WarrantMember__us-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis__custom--RangeOfExercisePrice3Member_zeFGycxUYss" title="Weighted Average Remaining Life (Years)">0.81</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="text-align: left">$</td><td id="xdx_983_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20240331__us-gaap--AwardTypeAxis__us-gaap--WarrantMember__us-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis__custom--RangeOfExercisePrice3Member_zqn7x9YXY2x8" style="text-align: right" title="Weighted Average Exercise Price, Outstanding">218.24</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_981_ecustom--WarrantsExercisable_iI_c20240331__us-gaap--AwardTypeAxis__us-gaap--WarrantMember__us-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis__custom--RangeOfExercisePrice3Member_z1sHIYdBFFDb" style="border-bottom: Black 1pt solid; text-align: right" title="Warrants Exercisable">1,559</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="text-align: left">$</td><td id="xdx_984_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageExercisePrice_iI_c20240331__us-gaap--AwardTypeAxis__us-gaap--WarrantMember__us-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis__custom--RangeOfExercisePrice3Member_z3BCuuYjjGf1" style="text-align: right" title="Weighted Average Exercise Price, Exercisable">218.24</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="padding-bottom: 2.5pt"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_980_eus-gaap--ClassOfWarrantOrRightOutstanding_iI_c20240331__us-gaap--AwardTypeAxis__us-gaap--WarrantMember_zA00EtNIO10f" style="border-bottom: Black 2.5pt double; text-align: right" title="Warrants Outstanding">4,090</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98E_ecustom--WarrantsExercisable_iI_c20240331__us-gaap--AwardTypeAxis__us-gaap--WarrantMember_zDUaEg1G6jid" style="border-bottom: Black 2.5pt double; text-align: right" title="Warrants Exercisable">4,090</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

2357124

P4Y7M17D

3.55

2357124 3.55

2531

P0Y8M15D

125.28

2531 125.28

1559

P0Y9M21D

218.24

1559 218.24

4090

4090 21023

22500

375000

390950

<table cellpadding="0" cellspacing="0" id="xdx_892_eus-gaap--ScheduleOfShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingTableTextBlock_zbCG1pJrM6F6" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - EQUITY TRANSACTIONS (Details - Option outstanding)"> <tr style="vertical-align: bottom"> <td>Schedule of options outstanding that have vested and are expected to vest</td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Number of Shares</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Weighted Average Exercise Price</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Weighted Average Remaining Contractual Term in Years</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 52%">Vested</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98C_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares_c20240401__20250331__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember_zQ3xzxZEEcX1" style="width: 13%; text-align: right" title="Number of options, vested">5,795</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_c20250331__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember_zEhw1TW4XJJ4" style="width: 13%; text-align: right" title="Weighted average exercise price options vested">132.82</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 13%; text-align: right"><span id="xdx_909_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1_dtY_c20240401__20250331__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember_zUnb9h5iPH69" title="Weighted average remaining contractual term options vested">6.02</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Expected to vest</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber_c20250331__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember_zhqoHzqTruDh" style="border-bottom: Black 1pt solid; text-align: right" title="Number of options, expected to vest">751</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="text-align: left">$</td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageExercisePrice_c20250331__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember_zTSxoqDSjWwa" style="text-align: right" title="Weighted average exercise price options expected to vest">112.80</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_909_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageRemainingContractualTerm1_dtY_c20240401__20250331__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember_zbzjuVo8y337" title="Weighted average remaining contractual term options expected to vest">6.87</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_984_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_c20250331__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember_zIdShKi9xPmf" style="border-bottom: Black 2.5pt double; text-align: right" title="Total options outstanding">6,546</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

5795

132.82

P6Y7D

751

112.80

P6Y10M13D

6546

<table cellpadding="0" cellspacing="0" id="xdx_89E_eus-gaap--ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock_zJXx7gNAvwc8" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - EQUITY TRANSACTIONS (Details - Option activity)"> <tr style="vertical-align: bottom"> <td>Schedule of stock option activity</td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="14" style="border-bottom: Black 1pt solid; text-align: center">Fiscal Year Ended March 31,</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center">2025</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center">2024</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Options</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Weighted Average Exercise Price</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Options</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Weighted Average Exercise Price</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 36%; text-align: left">Outstanding, beginning of year</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iS_c20240401__20250331__us-gaap--AwardTypeAxis__us-gaap--OptionMember_zx7vcbkbDZM7" style="width: 13%; text-align: right" title="Stock options outstanding, beginning balance">10,816</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iS_c20240401__20250331__us-gaap--AwardTypeAxis__us-gaap--OptionMember_zocpOeZASxT7" style="width: 13%; text-align: right" title="Weighted average exercise price, beginning price">146.22</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iS_c20230401__20240331__us-gaap--AwardTypeAxis__us-gaap--OptionMember_zT6Qy3OuwHe6" style="width: 13%; text-align: right" title="Stock options outstanding, beginning balance">21,491</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iS_c20230401__20240331__us-gaap--AwardTypeAxis__us-gaap--OptionMember_zS8kirq74TXi" style="width: 13%; text-align: right" title="Weighted average exercise price, beginning price">180.93</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Granted</td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod_d0_c20240401__20250331__us-gaap--AwardTypeAxis__us-gaap--OptionMember_zgu7l0dtSFVk" style="text-align: right" title="Stock options granted">–</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_d0_c20240401__20250331__us-gaap--AwardTypeAxis__us-gaap--OptionMember_zFanu8eqypSc" style="text-align: right" title="Weighted average exercise price, granted">–</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod_d0_c20230401__20240331__us-gaap--AwardTypeAxis__us-gaap--OptionMember_zhhIFQZVP1rh" style="text-align: right" title="Stock options granted">–</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_d0_c20230401__20240331__us-gaap--AwardTypeAxis__us-gaap--OptionMember_zlrbBQBygJB1" style="text-align: right" title="Weighted average exercise price, granted">–</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="padding-bottom: 1pt">Cancelled/Forfeited</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod_iN_di_c20240401__20250331__us-gaap--AwardTypeAxis__us-gaap--OptionMember_zqUZyszHdnhc" style="border-bottom: Black 1pt solid; text-align: right" title="Stock options cancelled/forfeited">(4,270</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td id="xdx_98D_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice_c20240401__20250331__us-gaap--AwardTypeAxis__us-gaap--OptionMember_zDRapqGgbVT4" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted average exercise price, cancelled/forfeited">170.29</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod_iN_di_c20230401__20240331__us-gaap--AwardTypeAxis__us-gaap--OptionMember_zuLkcP6HgsQ9" style="border-bottom: Black 1pt solid; text-align: right" title="Stock options cancelled/forfeited">(10,675</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice_c20230401__20240331__us-gaap--AwardTypeAxis__us-gaap--OptionMember_zLsOVdoH69xk" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted average exercise price, cancelled/forfeited">215.12</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Outstanding, end of year</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iE_c20240401__20250331__us-gaap--AwardTypeAxis__us-gaap--OptionMember_z1Ehtj20HNzj" style="border-bottom: Black 2.5pt double; text-align: right" title="Stock options outstanding, ending balance">6,546</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iE_c20240401__20250331__us-gaap--AwardTypeAxis__us-gaap--OptionMember_zvs0Y4O4fKfl" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted average exercise price, ending price">130.52</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iE_c20230401__20240331__us-gaap--AwardTypeAxis__us-gaap--OptionMember_zdVkYYsDFw6b" style="border-bottom: Black 2.5pt double; text-align: right" title="Stock options outstanding, ending balance">10,816</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iE_c20230401__20240331__us-gaap--AwardTypeAxis__us-gaap--OptionMember_zCabPvGTGuig" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted average exercise price, ending price">146.22</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: left; padding-bottom: 2.5pt">Exercisable, end of year</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_984_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber_c20250331__us-gaap--AwardTypeAxis__us-gaap--OptionMember_zABeEILia3H" style="border-bottom: Black 2.5pt double; text-align: right" title="Stock options exercisable">5,795</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_987_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice_c20250331__us-gaap--AwardTypeAxis__us-gaap--OptionMember_zFFhhhPZoR92" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted average exercise price, exercisable">132.82</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber_c20240331__us-gaap--AwardTypeAxis__us-gaap--OptionMember_zjI5wJ8X45Kl" style="border-bottom: Black 2.5pt double; text-align: right" title="Stock options exercisable">7,236</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice_iI_c20240331__us-gaap--AwardTypeAxis__us-gaap--OptionMember_zvz7MPfR2Hqc" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted average exercise price, exercisable">159.13</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -10pt; padding-left: 10pt; padding-bottom: 2.5pt">Weighted average estimated fair value of options granted</td><td style="padding-bottom: 2.5pt"> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">N/A</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">N/A</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

10816

146.22

21491

180.93

4270

170.29

10675

215.12

6546

130.52

10816

146.22

5795

132.82

7236

159.13

1-for-8

16448

50000

<table cellpadding="0" cellspacing="0" id="xdx_89B_eus-gaap--ScheduleOfNonvestedShareActivityTableTextBlock_z73KA2bnIeTh" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - EQUITY TRANSACTIONS (Details - Nonvested shares)"> <tr style="vertical-align: bottom"> <td>Schedule of nonvested shares</td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Shares</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Weighted Average Grant Date Fair Value</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 66%; text-align: left">Nonvested stock options at April 1, 2024</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98F_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares_iS_c20240401__20250331_zTU1qfjUxOte" style="width: 14%; text-align: right" title="Nonvested shares outstanding, beginning balance">3,580</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_982_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue_iS_c20240401__20250331_zcdsOS3pbWud" style="width: 14%; text-align: right" title="Weighted average grant date fair value nonvested shares outstanding, beginning balance">120.13</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Vested</td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares_iN_di_c20240401__20250331_zRCCD9XD6Cmg" style="text-align: right" title="Options vested">(1,628</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td id="xdx_98F_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedWeightedAverageGrantDateFairValue_c20240401__20250331_zciM8C1IPXDa" style="text-align: right" title="Weighted average grant date fair value nonvested shares outstanding, vested">138.95</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="padding-bottom: 1pt">Forfeited</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98C_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedNumberOfShares_iN_di_c20240401__20250331_zM38wXmtx6t7" style="border-bottom: Black 1pt solid; text-align: right" title="Options forfeited">(1,201</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="text-align: left">$</td><td id="xdx_98D_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedWeightedAverageGrantDateFairValue_c20240401__20250331_zXuDhF1vBXea" style="text-align: right" title="Weighted average grant date fair value nonvested shares outstanding, forfeited">99.19</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Nonvested stock options at March 31, 2025</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98E_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares_iE_c20240401__20250331_z91xa5f9D7ha" style="border-bottom: Black 2.5pt double; text-align: right" title="Nonvested shares outstanding, ending balance">751</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

3580

120.13

1628

138.95

1201

99.19

751

<table cellpadding="0" cellspacing="0" id="xdx_894_eus-gaap--ScheduleOfShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeTextBlock_z1zoQ3mrlSH5" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - EQUITY TRANSACTIONS (Details - Options exercisable)"> <tr style="vertical-align: bottom"> <td>Schedule of detail of options outstanding and exercisable by exercise price</td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; text-align: center">Options Outstanding</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center">Options Exercisable</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; text-align: center">Exercise Prices</td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Number Outstanding</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Weighted Average Remaining Life (Years)</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Weighted Average Exercise Price</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Number Outstanding</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Weighted Average Exercise Price</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 30%">$102.40-112.8</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iI_c20250331__us-gaap--AwardTypeAxis__us-gaap--OptionMember__us-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis__custom--ExercisePrice1Member_zZOjP4oniDPl" style="width: 11%; text-align: right" title="Stock options outstanding">5,034</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 11%; text-align: right"><span id="xdx_908_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20240401__20250331__us-gaap--AwardTypeAxis__us-gaap--OptionMember__us-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis__custom--ExercisePrice1Member_zhBzv5wefrGb" title="Weighted average remaining life (years)">6.22 years</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iI_c20250331__us-gaap--AwardTypeAxis__us-gaap--OptionMember__us-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis__custom--ExercisePrice1Member_z0BXmhVj2NHl" style="width: 11%; text-align: right" title="Weighted average exercise price, outstanding">109.17</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber_iI_c20250331__us-gaap--AwardTypeAxis__us-gaap--OptionMember__us-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis__custom--ExercisePrice1Member_zFoa2txEeEt" style="width: 11%; text-align: right" title="Stock options exercisable">4,283</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_983_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice_iI_c20250331__us-gaap--AwardTypeAxis__us-gaap--OptionMember__us-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis__custom--ExercisePrice1Member_zk9jcr41iyEc" style="width: 11%; text-align: right" title="Weighted average exercise price, exercisable">108.54</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="vertical-align: bottom; text-align: left; padding-bottom: 1pt">$201.6</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iI_c20250331__us-gaap--AwardTypeAxis__us-gaap--OptionMember__us-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis__custom--ExercisePrice2Member_zG22Y2nCEFp" style="border-bottom: Black 1pt solid; text-align: right" title="Stock options outstanding">1,512</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_908_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20240401__20250331__us-gaap--AwardTypeAxis__us-gaap--OptionMember__us-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis__custom--ExercisePrice2Member_zQNycMDnr0o" title="Weighted average remaining life (years)">5.76 years</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="text-align: left">$</td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iI_c20250331__us-gaap--AwardTypeAxis__us-gaap--OptionMember__us-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis__custom--ExercisePrice2Member_zxFdAqfkGGTa" style="text-align: right" title="Weighted average exercise price, outstanding">201.60</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber_iI_c20250331__us-gaap--AwardTypeAxis__us-gaap--OptionMember__us-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis__custom--ExercisePrice2Member_zyRaLvKnZVnd" style="border-bottom: Black 1pt solid; text-align: right" title="Stock options exercisable">1,512</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="text-align: left">$</td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice_iI_c20250331__us-gaap--AwardTypeAxis__us-gaap--OptionMember__us-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis__custom--ExercisePrice2Member_zeAqQn0T6uea" style="text-align: right" title="Weighted average exercise price, exercisable">201.60</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iI_c20250331__us-gaap--AwardTypeAxis__us-gaap--OptionMember_zC94hhvMw742" style="border-bottom: Black 2.5pt double; text-align: right" title="Stock options outstanding">6,546</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber_iI_c20250331__us-gaap--AwardTypeAxis__us-gaap--OptionMember_zW9B1DqcldLb" style="border-bottom: Black 2.5pt double; text-align: right" title="Stock options exercisable">5,795</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

5034

P6Y2M19D

109.17

4283

108.54

1512

P5Y9M3D

201.60

1512

201.60

6546

5795

415234

1219370

<table cellpadding="0" cellspacing="0" id="xdx_899_eus-gaap--ScheduleOfNonvestedRestrictedStockUnitsActivityTableTextBlock_zXXapoMKXFP6" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Equity Transactions (Details - RSU activity)"> <tr style="vertical-align: bottom"> <td>Schedule of RSUs</td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Shares</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 83%">Nonvested RSUs at April 1, 2024</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iI_c20240331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zMnTRBqWGX76" style="width: 14%; text-align: right" title="RSUs nonvested">611</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Granted</td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_c20240401__20250331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zES6UzTIvfhk" style="text-align: right" title="RSU's granted">16,448</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td>Vested</td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod_iN_di_c20240401__20250331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zM9kcm1E4Qd2" style="text-align: right" title="RSU's vested">(12,707</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Tax withholding payments or tax equivalent payments for net share settlement of restricted stock units</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_985_eus-gaap--RestrictedStockSharesIssuedNetOfSharesForTaxWithholdings_iN_di_c20240401__20250331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zNg8JowTOi37" style="border-bottom: Black 1pt solid; text-align: right" title="Tax withholding payments, shares">(4,352</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="padding-bottom: 2.5pt">Nonvested RSUs at March 31, 2025</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_987_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iI_d0_c20250331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_z3HliKvS7SC3" style="border-bottom: Black 2.5pt double; text-align: right" title="RSUs nonvested">–</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

611

16448

12707

4352

<table cellpadding="0" cellspacing="0" id="xdx_892_eus-gaap--ScheduleOfShareBasedCompensationActivityTableTextBlock_zMdrbqRnRCE7" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - EQUITY TRANSACTIONS (Details - Stockbased compensation)"> <tr style="vertical-align: bottom"> <td>Schedule of stock-based compensation</td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center">Fiscal Year Ended</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">March 31, 2025</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">March 31, 2024</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 66%; text-align: left">Vesting of restricted stock units</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98B_eus-gaap--ShareBasedCompensation_pp0p0_c20240401__20250331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zhPeLuwzqi25" style="width: 14%; text-align: right" title="Stock based compensation">218,750</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98A_eus-gaap--ShareBasedCompensation_pp0p0_c20230401__20240331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zJ9GdM8q7GIl" style="width: 14%; text-align: right" title="Stock based compensation">206,250</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Vesting of stock options</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_980_eus-gaap--ShareBasedCompensation_pp0p0_c20240401__20250331__us-gaap--AwardTypeAxis__us-gaap--OptionMember_zfeayD7zWUSb" style="border-bottom: Black 1pt solid; text-align: right" title="Stock based compensation">196,484</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98D_eus-gaap--ShareBasedCompensation_pp0p0_c20230401__20240331__us-gaap--AwardTypeAxis__us-gaap--OptionMember_zojx2siIOale" style="border-bottom: Black 1pt solid; text-align: right" title="Stock based compensation">1,013,120</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: left; padding-bottom: 2.5pt">Total Stock-Based Compensation</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_983_eus-gaap--ShareBasedCompensation_pp0p0_c20240401__20250331_zNt4tSHQFMth" style="border-bottom: Black 2.5pt double; text-align: right" title="Stock based compensation">415,234</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_988_eus-gaap--ShareBasedCompensation_pp0p0_c20230401__20240331_zQt7j0hYYhte" style="border-bottom: Black 2.5pt double; text-align: right" title="Stock based compensation">1,219,370</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

218750

206250

196484

1013120

415234

1219370

2.86

78548

P0Y10M15D

5. RELATED PARTY TRANSACTIONS DUE TO RELATED PARTIES For the fiscal year ended March 31, 2025 we accrued unpaid fees of $68,250 owed to our non-employee directors. As a result of entering into separation agreements with two former executives, we paid out accrued vacation totaling $27,126 during the fiscal year ended March 31, 2025. These amounts were previously recorded in the "due to related parties" account. In addition, pursuant to the terms of their respective Executive Employment Agreements, we accrued a total of $809,782 for cash severance and COBRA payments, which are payable monthly over 12-month periods beginning on July 1, 2024, and October 15, 2024, respectively. Separately, in connection with a reduction in force in August 2024, we paid out an additional $13,419 in accrued vacation, which was also previously recorded in the "due to related parties" account. Amounts due to related parties were comprised of the following items: <table cellpadding="0" cellspacing="0" id="xdx_882_eus-gaap--ScheduleOfRelatedPartyTransactionsTableTextBlock_zpSlMAQwU7ql" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - RELATED PARTY TRANSACTIONS (Details)"> <tr style="vertical-align: bottom"> <td>Schedule of amounts due to related parties</td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">March 31, 2025</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">March 31, 2024</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 66%; text-align: left">Accrued Board fees</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_987_ecustom--AccruedDirectorFees_iI_c20250331__us-gaap--RelatedPartyTransactionAxis__custom--AccruedBoardFeesMember_zkszcGbVpdEh" style="width: 14%; text-align: right">68,250</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98C_ecustom--AccruedDirectorFees_iI_c20240331__us-gaap--RelatedPartyTransactionAxis__custom--AccruedBoardFeesMember_zn0fIRF1mqs5" style="width: 14%; text-align: right">68,250</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Accrued vacation to all employees</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--AccruedVacationCurrent_iI_c20250331__us-gaap--RelatedPartyTransactionAxis__custom--AccruedVacationToAllEmployeesMember_ztEC1moWCzlk" style="text-align: right">165,029</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--AccruedVacationCurrent_iI_c20240331__us-gaap--RelatedPartyTransactionAxis__custom--AccruedVacationToAllEmployeesMember_zbJFw8NO1Fbf" style="text-align: right">167,973</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: left; padding-bottom: 1pt">Accrued separation expenses</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98A_ecustom--DueToRelatedPartiesCurrent1_iI_c20250331__us-gaap--RelatedPartyTransactionAxis__custom--AccruedSeparationExpensesMember_z66B52HqFaie" style="border-bottom: Black 1pt solid; text-align: right">346,286</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98A_ecustom--DueToRelatedPartiesCurrent1_iI_c20240331__us-gaap--RelatedPartyTransactionAxis__custom--AccruedSeparationExpensesMember_zYAf1s0IdwW1" style="border-bottom: Black 1pt solid; text-align: right">310,211</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Total due to related parties</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98E_ecustom--DueToRelatedPartiesCurrent1_iI_c20250331_zqKfbfIPEyB2" style="border-bottom: Black 2.5pt double; text-align: right">579,565</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_982_ecustom--DueToRelatedPartiesCurrent1_iI_c20240331_zZEsLM86vHR6" style="border-bottom: Black 2.5pt double; text-align: right">546,434</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

68250

27126

809782

13419

<table cellpadding="0" cellspacing="0" id="xdx_882_eus-gaap--ScheduleOfRelatedPartyTransactionsTableTextBlock_zpSlMAQwU7ql" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - RELATED PARTY TRANSACTIONS (Details)"> <tr style="vertical-align: bottom"> <td>Schedule of amounts due to related parties</td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">March 31, 2025</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">March 31, 2024</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 66%; text-align: left">Accrued Board fees</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_987_ecustom--AccruedDirectorFees_iI_c20250331__us-gaap--RelatedPartyTransactionAxis__custom--AccruedBoardFeesMember_zkszcGbVpdEh" style="width: 14%; text-align: right">68,250</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98C_ecustom--AccruedDirectorFees_iI_c20240331__us-gaap--RelatedPartyTransactionAxis__custom--AccruedBoardFeesMember_zn0fIRF1mqs5" style="width: 14%; text-align: right">68,250</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Accrued vacation to all employees</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--AccruedVacationCurrent_iI_c20250331__us-gaap--RelatedPartyTransactionAxis__custom--AccruedVacationToAllEmployeesMember_ztEC1moWCzlk" style="text-align: right">165,029</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--AccruedVacationCurrent_iI_c20240331__us-gaap--RelatedPartyTransactionAxis__custom--AccruedVacationToAllEmployeesMember_zbJFw8NO1Fbf" style="text-align: right">167,973</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: left; padding-bottom: 1pt">Accrued separation expenses</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98A_ecustom--DueToRelatedPartiesCurrent1_iI_c20250331__us-gaap--RelatedPartyTransactionAxis__custom--AccruedSeparationExpensesMember_z66B52HqFaie" style="border-bottom: Black 1pt solid; text-align: right">346,286</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98A_ecustom--DueToRelatedPartiesCurrent1_iI_c20240331__us-gaap--RelatedPartyTransactionAxis__custom--AccruedSeparationExpensesMember_zYAf1s0IdwW1" style="border-bottom: Black 1pt solid; text-align: right">310,211</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Total due to related parties</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98E_ecustom--DueToRelatedPartiesCurrent1_iI_c20250331_zqKfbfIPEyB2" style="border-bottom: Black 2.5pt double; text-align: right">579,565</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_982_ecustom--DueToRelatedPartiesCurrent1_iI_c20240331_zZEsLM86vHR6" style="border-bottom: Black 2.5pt double; text-align: right">546,434</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

68250 68250

165029

167973

346286 310211 579565 546434

6. OTHER CURRENT LIABILITIES Other current liabilities were comprised of the following items: <table cellpadding="0" cellspacing="0" id="xdx_887_eus-gaap--OtherCurrentLiabilitiesTableTextBlock_z6PDogkZ4RDh" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - OTHER CURRENT LIABILITIES (Details)"> <tr style="vertical-align: bottom"> <td>Schedule of other current liabilities</td><td> </td> <td colspan="2" id="xdx_494_20250331_zTIMJ7e9JH07" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" id="xdx_496_20240331_z3UhfNoQwcnc" style="text-align: center"> </td><td> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">March 31, 2025</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">March 31, 2024</td><td style="padding-bottom: 1pt"> </td></tr> <tr id="xdx_40B_ecustom--DoInsurancePremiumFinancing_iI_pp0p0_d0_maOLCzgCt_zRUYK34iZnW8" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 66%; text-align: left">D&O insurance premium financing (See Note 8)</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">178,206</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">–</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--AccruedProfessionalFeesCurrent_iI_pp0p0_maOLCzgCt_zzp0b2eZCqmj" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Accrued professional fees</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">247,631</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">215,038</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_ecustom--AccruedResaleRegistration_iI_pp0p0_d0_maOLCzgCt_zNUWtnwn7t4f" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: left; padding-bottom: 1pt">Accrued resale registration</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">46,327</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">–</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--OtherLiabilitiesCurrent_iTI_pp0p0_mtOLCzgCt_zSuOtFA3eDg" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Total other current liabilities</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">472,164</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">215,038</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> During 2017 through 2020, the Company incorrectly recorded accrued commission liability of approximately $404,000. The Company reversed accrued commission liability of approximately $404,000 during the year ended March 31, 2024.

<table cellpadding="0" cellspacing="0" id="xdx_887_eus-gaap--OtherCurrentLiabilitiesTableTextBlock_z6PDogkZ4RDh" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - OTHER CURRENT LIABILITIES (Details)"> <tr style="vertical-align: bottom"> <td>Schedule of other current liabilities</td><td> </td> <td colspan="2" id="xdx_494_20250331_zTIMJ7e9JH07" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" id="xdx_496_20240331_z3UhfNoQwcnc" style="text-align: center"> </td><td> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">March 31, 2025</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">March 31, 2024</td><td style="padding-bottom: 1pt"> </td></tr> <tr id="xdx_40B_ecustom--DoInsurancePremiumFinancing_iI_pp0p0_d0_maOLCzgCt_zRUYK34iZnW8" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 66%; text-align: left">D&O insurance premium financing (See Note 8)</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">178,206</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">–</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--AccruedProfessionalFeesCurrent_iI_pp0p0_maOLCzgCt_zzp0b2eZCqmj" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Accrued professional fees</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">247,631</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">215,038</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_ecustom--AccruedResaleRegistration_iI_pp0p0_d0_maOLCzgCt_zNUWtnwn7t4f" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: left; padding-bottom: 1pt">Accrued resale registration</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">46,327</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">–</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--OtherLiabilitiesCurrent_iTI_pp0p0_mtOLCzgCt_zSuOtFA3eDg" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Total other current liabilities</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">472,164</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">215,038</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

178206 0

247631

215038

46327 0

472164

215038

7. INCOME TAXES For the years ended March 31, 2025 and 2024, we had no income tax expense due to our net operating losses and 100% deferred tax asset valuation allowance. At March 31, 2025 and 2024, we had net deferred tax assets as detailed below. These deferred tax assets are primarily composed of capitalized research and development costs and tax net operating loss carryforwards. Due to uncertainties surrounding our ability to generate future taxable income to realize these assets, a 100% valuation allowance has been established to offset the net deferred tax assets. Significant components of our net deferred tax assets at March 31, 2025 and 2024 are shown below: <table cellpadding="0" cellspacing="0" id="xdx_899_eus-gaap--ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock_zwSGk5NNVD1" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - INCOME TAXES (Details - Deferred tax assets)"> <tr style="vertical-align: bottom"> <td>Schedule of deferred tax assets</td><td> </td> <td colspan="2" id="xdx_49C_20250331_zdR1NdOrNlJ7" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" id="xdx_490_20240331_zcyILimcQI75" style="text-align: center"> </td><td> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center">YEAR ENDED MARCH 31,</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2025</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2024</td><td style="padding-bottom: 1pt"> </td></tr> <tr id="xdx_40C_eus-gaap--DeferredTaxAssetsNetAbstract_iB" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: left">Deferred tax assets:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--DeferredTaxAssetsTaxCreditCarryforwardsResearch_iI_maDTAGzgu3_zzl953rOKR08" style="vertical-align: bottom; background-color: White"> <td style="width: 66%; text-align: left">Research and development credit carryforwards</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">3,442,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">3,442,000</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--DeferredTaxAssetsInProcessResearchAndDevelopment_iI_maDTAGzgu3_zVWF2Y3OkgDj" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: left">Capitalized research and development costs</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">519,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">646,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--DeferredTaxAssetsOperatingLossCarryforwards_iI_maDTAGzgu3_zxX6chohdxof" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Net operating loss carryforwards(1)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">30,022,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">26,927,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefits_iI_maDTAGzgu3_zH6c1avTCf26" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: left; padding-bottom: 1pt">Stock compensation</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">415,000</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,244,000</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--DeferredTaxAssetsGross_iTI_mtDTAGzgu3_maDTANzQ3M_zgHUyoH3izZ" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Total deferred tax assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">34,398,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">33,259,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--DeferredTaxLiabilities_iI_d0_zGGs4XdWJYzi" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Total deferred tax liabilities</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">–</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">–</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--DeferredTaxAssetsLiabilitiesNet_iI_zJBAa8PxI5r9" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Net deferred tax assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">34,398,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">33,259,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--DeferredTaxAssetsValuationAllowance_iNI_di_msDTANzQ3M_z4EhWZAU2ozi" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: left; padding-bottom: 1pt">Valuation allowance for deferred tax assets</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(34,398,000</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(33,259,000</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--DeferredTaxAssetsNet_iI_d0_mtDTANzQ3M_zZos0gyqTY84" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: left; padding-bottom: 2.5pt">Net deferred tax assets</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">–</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">–</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> ______________ <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="width: 1%">(1)</td> <td style="width: 99%; text-align: justify">Pursuant to Internal Revenue Code Section 382, use of our tax net operating loss carryforwards may be limited. The amount of the annual limitation, if any, will be determined based on the value of the Company immediately prior to an ownership change. Subsequent ownership changes may further affect the limitation in future years. If and when the Company utilizes the NOL carryforwards in a future period, it will perform an analysis to determine the effect, if any, of these loss limitation rules on the NOL carryforward balances.</td></tr> </table> At March 31, 2025, we had tax net operating loss carryforwards for federal and state purposes approximating $97 million and $91 million, respectively, portions of which began to expire in the year 2021. The indefinite position is approximately $36 million. Research and Development credits begin to expire in 2025. The provision for income taxes on earnings subject to income taxes differs from the statutory federal rate for the years ended March 31, 2025 and 2024 due to the following: <table cellpadding="0" cellspacing="0" id="xdx_893_eus-gaap--ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock_zzc4DZC4nXra" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - INCOME TAXES (Details - Provision for income taxes)"> <tr style="vertical-align: bottom"> <td>Schedule of provision for income taxes</td><td> </td> <td colspan="2" id="xdx_498_20240401__20250331_zOUMi5SiTUAh" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" id="xdx_49D_20230401__20240331_z3lAszvbpSV9" style="text-align: center"> </td><td> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2025</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2024</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr id="xdx_402_eus-gaap--IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate_maITEBzXSL_zNg3uL9CpBP9" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 66%; text-align: left">Income taxes (benefit) at federal statutory rate of 21.00%</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">(2,811,000</td><td style="width: 1%; text-align: left">)</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">(2,564,000</td><td style="width: 1%; text-align: left">)</td></tr> <tr id="xdx_40B_eus-gaap--IncomeTaxReconciliationNondeductibleExpense_maITEBzXSL_zGHy70SAxQ56" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Tax effect on non-deductible expenses and credits</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_ecustom--TrueUpItems_iN_di_msITEBzXSL_zNvFGWEfPOgd" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: left">True up items</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">132,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(29,000</td><td style="text-align: left">)</td></tr> <tr id="xdx_408_ecustom--NetOperatingLossCarryforwardsExpiration_maITEBzXSL_zN5a2nxODJxf" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Expiration of net operating loss carryforwards (1)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">204,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">204,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance_maITEBzXSL_z6GhKD8W1ywa" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: left; padding-bottom: 1pt">Change in valuation allowance</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,474,000</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,387,000</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--IncomeTaxExpenseBenefit_iT_d0_mtITEBzXSL_zztOXoUKX8dh" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Income Tax Expense (Benefit)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">–</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">–</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> ______________ <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="width: 1%">(1)</td> <td style="width: 99%">Pursuant to Internal Revenue Code Section 382, use of our tax net operating loss carryforwards may be limited.</td></tr> </table> ASC 740, “Income Taxes”, clarifies the accounting for uncertainty in income taxes recognized in an entity’s financial statements, and prescribes recognition thresholds and measurement attributes for financial statement disclosure of tax positions taken or expected to be taken on a tax return. Under ASC 740, the impact of an uncertain income tax position on the income tax return must be recognized at the largest amount that is more-likely-than-not to be sustained upon audit by the relevant taxing authority. An uncertain income tax position will not be recognized if it has less than a 50% likelihood of being sustained. Additionally, ASC 740 provides guidance on derecognition, classification, interest and penalties, accounting in interim periods, disclosure and transition. Our practice is to recognize interest and/or penalties related to income tax matters in income tax expense. During the years ended March 31, 2025 and 2024, we did not recognize any interest or penalties relating to tax matters. At and for the years ended March 31, 2025 and 2024, management does not believe the Company has any uncertain tax positions. Accordingly, there are no unrecognized tax benefits at March 31, 2025 or March 31, 2024. Our tax returns remain open for examination by the applicable authorities, generally 3 years for federal and 4 years for state. We are currently not under examination by any taxing authorities.

<table cellpadding="0" cellspacing="0" id="xdx_899_eus-gaap--ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock_zwSGk5NNVD1" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - INCOME TAXES (Details - Deferred tax assets)"> <tr style="vertical-align: bottom"> <td>Schedule of deferred tax assets</td><td> </td> <td colspan="2" id="xdx_49C_20250331_zdR1NdOrNlJ7" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" id="xdx_490_20240331_zcyILimcQI75" style="text-align: center"> </td><td> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center">YEAR ENDED MARCH 31,</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2025</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2024</td><td style="padding-bottom: 1pt"> </td></tr> <tr id="xdx_40C_eus-gaap--DeferredTaxAssetsNetAbstract_iB" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: left">Deferred tax assets:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--DeferredTaxAssetsTaxCreditCarryforwardsResearch_iI_maDTAGzgu3_zzl953rOKR08" style="vertical-align: bottom; background-color: White"> <td style="width: 66%; text-align: left">Research and development credit carryforwards</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">3,442,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">3,442,000</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--DeferredTaxAssetsInProcessResearchAndDevelopment_iI_maDTAGzgu3_zVWF2Y3OkgDj" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: left">Capitalized research and development costs</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">519,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">646,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--DeferredTaxAssetsOperatingLossCarryforwards_iI_maDTAGzgu3_zxX6chohdxof" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Net operating loss carryforwards(1)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">30,022,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">26,927,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefits_iI_maDTAGzgu3_zH6c1avTCf26" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: left; padding-bottom: 1pt">Stock compensation</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">415,000</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,244,000</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--DeferredTaxAssetsGross_iTI_mtDTAGzgu3_maDTANzQ3M_zgHUyoH3izZ" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Total deferred tax assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">34,398,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">33,259,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--DeferredTaxLiabilities_iI_d0_zGGs4XdWJYzi" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Total deferred tax liabilities</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">–</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">–</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--DeferredTaxAssetsLiabilitiesNet_iI_zJBAa8PxI5r9" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Net deferred tax assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">34,398,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">33,259,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--DeferredTaxAssetsValuationAllowance_iNI_di_msDTANzQ3M_z4EhWZAU2ozi" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: left; padding-bottom: 1pt">Valuation allowance for deferred tax assets</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(34,398,000</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(33,259,000</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--DeferredTaxAssetsNet_iI_d0_mtDTANzQ3M_zZos0gyqTY84" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: left; padding-bottom: 2.5pt">Net deferred tax assets</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">–</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">–</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> ______________ <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="width: 1%">(1)</td> <td style="width: 99%; text-align: justify">Pursuant to Internal Revenue Code Section 382, use of our tax net operating loss carryforwards may be limited. The amount of the annual limitation, if any, will be determined based on the value of the Company immediately prior to an ownership change. Subsequent ownership changes may further affect the limitation in future years. If and when the Company utilizes the NOL carryforwards in a future period, it will perform an analysis to determine the effect, if any, of these loss limitation rules on the NOL carryforward balances.</td></tr> </table>

3442000

519000

646000

30022000

26927000

415000

2244000

34398000

33259000

34398000

33259000

34398000

33259000

97000000

91000000

36000000

<table cellpadding="0" cellspacing="0" id="xdx_893_eus-gaap--ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock_zzc4DZC4nXra" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - INCOME TAXES (Details - Provision for income taxes)"> <tr style="vertical-align: bottom"> <td>Schedule of provision for income taxes</td><td> </td> <td colspan="2" id="xdx_498_20240401__20250331_zOUMi5SiTUAh" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" id="xdx_49D_20230401__20240331_z3lAszvbpSV9" style="text-align: center"> </td><td> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2025</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2024</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr id="xdx_402_eus-gaap--IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate_maITEBzXSL_zNg3uL9CpBP9" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 66%; text-align: left">Income taxes (benefit) at federal statutory rate of 21.00%</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">(2,811,000</td><td style="width: 1%; text-align: left">)</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">(2,564,000</td><td style="width: 1%; text-align: left">)</td></tr> <tr id="xdx_40B_eus-gaap--IncomeTaxReconciliationNondeductibleExpense_maITEBzXSL_zGHy70SAxQ56" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Tax effect on non-deductible expenses and credits</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_ecustom--TrueUpItems_iN_di_msITEBzXSL_zNvFGWEfPOgd" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: left">True up items</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">132,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(29,000</td><td style="text-align: left">)</td></tr> <tr id="xdx_408_ecustom--NetOperatingLossCarryforwardsExpiration_maITEBzXSL_zN5a2nxODJxf" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Expiration of net operating loss carryforwards (1)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">204,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">204,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance_maITEBzXSL_z6GhKD8W1ywa" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: left; padding-bottom: 1pt">Change in valuation allowance</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,474,000</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,387,000</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--IncomeTaxExpenseBenefit_iT_d0_mtITEBzXSL_zztOXoUKX8dh" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Income Tax Expense (Benefit)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">–</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">–</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> ______________ <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="width: 1%">(1)</td> <td style="width: 99%">Pursuant to Internal Revenue Code Section 382, use of our tax net operating loss carryforwards may be limited.</td></tr> </table>

-2811000

-2564000

1000

2000

-132000 29000 204000 204000

2474000

2387000

8. COMMITMENTS AND CONTINGENCIES CONTRACTUAL OBLIGATIONS AND COMMITMENTS We have had the following material changes to our contractual obligations and commitments outside the ordinary course of business during the fiscal year ended March 31, 2025: LEASE COMMITMENTS Office, Lab and Manufacturing Space Leases <span id="xdx_90C_eus-gaap--LesseeOperatingLeaseDescription_c20240401__20250331__us-gaap--PropertySubjectToOrAvailableForOperatingLeaseAxis__custom--OfficeAndLaboratorySpaceMember_zkBzxZAVmPAe" title="Lease description">In December 2020, we entered into an agreement to lease approximately 2,823 square feet of office space and 1,807 square feet of laboratory space located at 11555 Sorrento Valley Road, Suite 203, San Diego, California 92121 and 11575 Sorrento Valley Road, Suite 200, San Diego, California 92121, respectively. The agreement carries a term of 63 months and we took possession of the office space effective October 1, 2021. We took possession of the laboratory space effective January 1, 2022. <span id="xdx_901_eus-gaap--LesseeOperatingLeaseDescription_c20240401__20250331__us-gaap--PropertySubjectToOrAvailableForOperatingLeaseAxis__custom--ManufacturingSpaceMember_z9WtFOB54WG5" title="Lease description">In October 2021, we entered into another lease for approximately 2,655 square feet of space to house our manufacturing operations located at 11588 Sorrento Valley Road, San Diego, California 92121. The term is for 55 months and we took possession of the manufacturing space in August 2022. The current <span id="xdx_901_eus-gaap--DebtInstrumentFrequencyOfPeriodicPayment_c20240401__20250331__us-gaap--PropertySubjectToOrAvailableForOperatingLeaseAxis__custom--OfficeAndLaboratorySpaceMember_zdGJ6jJl3h4d" title="Lease frequency of periodic payment">monthly base rent under the office and laboratory component of the lease is $<span id="xdx_901_eus-gaap--DebtInstrumentPeriodicPayment_c20240401__20250331__us-gaap--PropertySubjectToOrAvailableForOperatingLeaseAxis__custom--OfficeAndLaboratorySpaceMember_zrUf5xZn7wId" title="Lease periodic payment">14,590. The current <span id="xdx_90B_eus-gaap--DebtInstrumentFrequencyOfPeriodicPayment_c20240401__20250331__us-gaap--PropertySubjectToOrAvailableForOperatingLeaseAxis__custom--ManufacturingSpaceMember_zyll2M8vll9i" title="Lease frequency of periodic payment">monthly base rent under the manufacturing component of the lease is $<span id="xdx_90D_eus-gaap--DebtInstrumentPeriodicPayment_c20240401__20250331__us-gaap--PropertySubjectToOrAvailableForOperatingLeaseAxis__custom--ManufacturingSpaceMember_z9bSVw43N2af" title="Lease periodic payment">12,824. The office, lab and manufacturing leases are coterminous with a remaining term of <span id="xdx_90B_eus-gaap--OperatingLeaseWeightedAverageRemainingLeaseTerm1_iI_dtM_c20250331__us-gaap--PropertySubjectToOrAvailableForOperatingLeaseAxis__custom--OfficeLabAndManufacturingLeasesMember_z4l1tVZFYslg" title="Remaining lease term">24 months. The weighted average discount rate is <span id="xdx_90E_eus-gaap--OperatingLeaseWeightedAverageDiscountRatePercent_iI_dp_c20250331__us-gaap--PropertySubjectToOrAvailableForOperatingLeaseAxis__custom--OfficeLabAndManufacturingLeasesMember_zi0baqsBj608" title="Lease weighted average discount rate">4.25%. As of March 31, 2025, we have right-of-use lease assets of $601,846. The following table presents a maturity analysis of expected undiscounted cash flows for operating leases on an annual basis for the next two fiscal years. All of our leases conterminously expire during the fiscal year ending March 31, 2027. <table cellpadding="0" cellspacing="0" id="xdx_88C_eus-gaap--LesseeOperatingLeaseLiabilityMaturityTableTextBlock_zaN8btqDBUa9" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - COMMITMENTS AND CONTINGENCIES (Details)"> <tr style="vertical-align: bottom"> <td>Schedule of lease maturity</td><td> </td> <td colspan="2" id="xdx_49C_20250331_zXWSk0lH5CG3" style="text-align: center"> </td><td> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify">Fiscal Years Ended March 31,</td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr id="xdx_408_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths_iI_zwwLzoxts0f5" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 83%; text-align: justify">2026</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">333,462</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearTwo_iI_zEsXi1hKegE9" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">2027</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">343,353</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDue_iI_zsFfLyKfZ85j" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: justify">Total minimum lease payments</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">676,815</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--LesseeOperatingLeaseLiabilityUndiscountedExcessAmount_iNI_di_zAW4DWGvKWEd" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Less amount representing imputed interest</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(27,064</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_408_eus-gaap--OperatingLeaseLiability_iI_zTBX3yoJgCL4" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: justify; padding-bottom: 2.5pt">Present value of minimum lease payments</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">649,751</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> Overall, our rent expense, which is included in general and administrative expenses, approximated $421,789 and $420,353 for the fiscal years ended March 31, 2025 and 2024, respectively. Premium Financing Agreement In January 2025, the Company entered into a short-term premium financing agreement with FIRST Insurance Funding, a division of Lake Forest Bank & Trust Company, N.A., to finance a portion of its Directors & Officers (D&O) and other insurance premiums. The total amount financed under the agreement was approximately $220,984, with an associated finance charge of approximately $9,995, resulting in a total repayment obligation of approximately $230,979.30. The annual percentage rate is 9.75%, and the loan is payable in 10 monthly installments of approximately $23,097.93 beginning February 28, 2025. As collateral for the financing, the Company granted the lender a first priority security interest in the financed insurance policies, including all unearned premiums, dividends, credits, and certain loss payments. In the event of default, cancellation, or early termination of the policies, the lender has the right to collect any unearned premiums and apply them against the remaining loan balance. This arrangement is classified as a short-term liability within other liabilities on the balance sheet (See Note 6) and is recorded net of any prepaid portions of the insurance policies. LEGAL MATTERS From time to time, claims are made against us in the ordinary course of business, which could result in litigation. Claims and associated litigation are subject to inherent uncertainties and unfavorable outcomes could occur, such as monetary damages, fines, penalties or injunctions prohibiting us from selling one or more products or engaging in other activities. The occurrence of an unfavorable outcome in any specific period could have a material adverse effect on our results of operations for that period or future periods. We are not presently a party to any pending or threatened legal proceedings.

In December 2020, we entered into an agreement to lease approximately 2,823 square feet of office space and 1,807 square feet of laboratory space located at 11555 Sorrento Valley Road, Suite 203, San Diego, California 92121 and 11575 Sorrento Valley Road, Suite 200, San Diego, California 92121, respectively. The agreement carries a term of 63 months and we took possession of the office space effective October 1, 2021.

In October 2021, we entered into another lease for approximately 2,655 square feet of space to house our manufacturing operations located at 11588 Sorrento Valley Road, San Diego, California 92121. The term is for 55 months and we took possession of the manufacturing space in August 2022.

monthly

14590

monthly

12824

P24M

0.0425

601846

<table cellpadding="0" cellspacing="0" id="xdx_88C_eus-gaap--LesseeOperatingLeaseLiabilityMaturityTableTextBlock_zaN8btqDBUa9" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - COMMITMENTS AND CONTINGENCIES (Details)"> <tr style="vertical-align: bottom"> <td>Schedule of lease maturity</td><td> </td> <td colspan="2" id="xdx_49C_20250331_zXWSk0lH5CG3" style="text-align: center"> </td><td> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify">Fiscal Years Ended March 31,</td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr id="xdx_408_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths_iI_zwwLzoxts0f5" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 83%; text-align: justify">2026</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">333,462</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearTwo_iI_zEsXi1hKegE9" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">2027</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">343,353</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDue_iI_zsFfLyKfZ85j" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: justify">Total minimum lease payments</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">676,815</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--LesseeOperatingLeaseLiabilityUndiscountedExcessAmount_iNI_di_zAW4DWGvKWEd" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Less amount representing imputed interest</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(27,064</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_408_eus-gaap--OperatingLeaseLiability_iI_zTBX3yoJgCL4" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: justify; padding-bottom: 2.5pt">Present value of minimum lease payments</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">649,751</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

333462

343353

676815

27064

649751

421789

420353

220984

9995

230979

9. SEGMENT REPORTING The Company operates as a single operating and reportable segment, which reflects the manner in which the Chief Operating Decision Maker (CODM), the Company’s Chief Executive Officer, manages the business and allocates resources. The Company is a development-stage medical technology company focused on advancing a clinical-stage therapeutic device, with key operational decisions based on cash availability, development milestones, and return on investment associated with future manufacturing and commercialization opportunities. Although the Company has no commercial revenue, the CODM regularly reviews certain expense categories and cash flow metrics to assess progress and allocate resources. The primary internal measure of performance used by the CODM is cash used in operating activities, rather than traditional profit or loss measures. In accordance with ASU 2023-07, which the Company adopted for the year ended March 31, 2025, the following significant expense categories and internal performance measures were reviewed by the CODM during the fiscal year ended March 31, 2025 and March 31, 2024: <table cellpadding="0" cellspacing="0" id="xdx_89B_eus-gaap--ScheduleOfSegmentReportingInformationBySegmentTextBlock_z0qHyOd9ukNe" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - SEGMENT REPORTING (Details)"> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Schedule of significant expense categories</td><td> </td> <td style="text-align: left"> </td><td id="xdx_49C_20240401__20250331__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember_zeLE7bSwVJwf" style="text-align: center"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_49A_20230401__20240331__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember_zumF4hcytLz" style="text-align: center"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold">Category</td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center; vertical-align: bottom">Year Ended March 31, 2025</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold; vertical-align: bottom">Year Ended March 31, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_408_eus-gaap--ResearchAndDevelopmentExpense_zCzCrdfUuFhg" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 62%; text-align: left">Research and development1</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">2,212,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">2,520,000</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--GeneralAndAdministrativeExpense_z0lHIp0IafJa" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">General and administrative2</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">3,243,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">3,903,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--NetCashProvidedByUsedInOperatingActivities_zy9ppqZTCOv" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: left">Cash used in operating activities3</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">7,646,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">10,130,000</td><td style="text-align: left"> </td></tr> </table> <table border="0" cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td id="xdx_F0B_zHsuPLPftGtd" style="text-align: justify; padding-left: 10pt; text-indent: -0.01pt; width: 3%">1</td> <td style="text-align: justify; padding-left: 10pt; text-indent: -0.01pt; width: 97%">Research and development expenses consist primarily of costs related to laboratory operations, clinical trial execution, investigational device testing, design iterations, and personnel-related expenses associated with research activities. These costs are not confined to a single financial statement line item and may be classified within general and administrative expense, professional fees, or payroll, depending on their nature. These expenses are regularly reviewed by the CODM as a single category for internal decision-making purposes.</td></tr> <tr style="vertical-align: top"> <td style="text-align: justify; padding-left: 10pt; text-indent: -0.01pt"> </td> <td style="text-align: justify; padding-left: 10pt; text-indent: -0.01pt"> </td></tr> <tr style="vertical-align: top"> <td id="xdx_F0C_zA8xLkqPkUAe" style="text-align: justify; padding-left: 10pt; text-indent: -0.01pt; width: 3%">2</td> <td id="xdx_F10_zNzgacvoock5" style="text-align: justify; padding-left: 10pt; text-indent: -0.01pt; width: 97%">General and administrative expense includes overhead, clinical trial-related administrative and planning costs, and manufacturing-related costs such as raw materials. These are not separately reviewed by the CODM and are assessed as part of the broader G&A category for decision-making purposes.</td></tr> <tr style="vertical-align: top"> <td style="text-align: justify; padding-left: 10pt; text-indent: -0.01pt"> </td> <td style="text-align: justify; padding-left: 10pt; text-indent: -0.01pt"> </td></tr> <tr style="vertical-align: top"> <td id="xdx_F05_zDad2nB9usuc" style="text-align: justify; padding-left: 10pt; text-indent: -0.01pt; width: 3%">3</td> <td id="xdx_F14_z32F76QbCcL7" style="text-align: justify; padding-left: 10pt; text-indent: -0.01pt; width: 97%">Cash used in operating activities is a key metric monitored by the CODM in evaluating resource needs, development pacing, and investment feasibility in the absence of revenue.</td></tr> </table> The Company does not allocate assets by segment, and the CODM does not use a measure of segment profit or loss to evaluate performance. There were no changes to the internal reports provided to or reviewed by the CODM during the years presented. Entity-Wide Information: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"><tr style="vertical-align: top"><td style="width: 20px"></td><td style="width: 20px">·</td><td>The Company did not recognize revenue during the fiscal year ended March 31, 2025.</td></tr> <tr style="vertical-align: top"><td style="width: 20px"></td><td style="width: 20px">·</td><td>All long-lived assets are located in the United States.</td></tr> <tr style="vertical-align: top"><td style="width: 20px"></td><td style="width: 20px">·</td><td>A significant portion of clinical trial activity is conducted through the Company’s wholly owned subsidiary based in Australia.</td></tr></table>

<table cellpadding="0" cellspacing="0" id="xdx_89B_eus-gaap--ScheduleOfSegmentReportingInformationBySegmentTextBlock_z0qHyOd9ukNe" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - SEGMENT REPORTING (Details)"> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Schedule of significant expense categories</td><td> </td> <td style="text-align: left"> </td><td id="xdx_49C_20240401__20250331__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember_zeLE7bSwVJwf" style="text-align: center"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_49A_20230401__20240331__srt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember_zumF4hcytLz" style="text-align: center"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold">Category</td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center; vertical-align: bottom">Year Ended March 31, 2025</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold; vertical-align: bottom">Year Ended March 31, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_408_eus-gaap--ResearchAndDevelopmentExpense_zCzCrdfUuFhg" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 62%; text-align: left">Research and development1</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">2,212,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">2,520,000</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--GeneralAndAdministrativeExpense_z0lHIp0IafJa" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">General and administrative2</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">3,243,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">3,903,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--NetCashProvidedByUsedInOperatingActivities_zy9ppqZTCOv" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: left">Cash used in operating activities3</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">7,646,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">10,130,000</td><td style="text-align: left"> </td></tr> </table> <table border="0" cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td id="xdx_F0B_zHsuPLPftGtd" style="text-align: justify; padding-left: 10pt; text-indent: -0.01pt; width: 3%">1</td> <td style="text-align: justify; padding-left: 10pt; text-indent: -0.01pt; width: 97%">Research and development expenses consist primarily of costs related to laboratory operations, clinical trial execution, investigational device testing, design iterations, and personnel-related expenses associated with research activities. These costs are not confined to a single financial statement line item and may be classified within general and administrative expense, professional fees, or payroll, depending on their nature. These expenses are regularly reviewed by the CODM as a single category for internal decision-making purposes.</td></tr> <tr style="vertical-align: top"> <td style="text-align: justify; padding-left: 10pt; text-indent: -0.01pt"> </td> <td style="text-align: justify; padding-left: 10pt; text-indent: -0.01pt"> </td></tr> <tr style="vertical-align: top"> <td id="xdx_F0C_zA8xLkqPkUAe" style="text-align: justify; padding-left: 10pt; text-indent: -0.01pt; width: 3%">2</td> <td id="xdx_F10_zNzgacvoock5" style="text-align: justify; padding-left: 10pt; text-indent: -0.01pt; width: 97%">General and administrative expense includes overhead, clinical trial-related administrative and planning costs, and manufacturing-related costs such as raw materials. These are not separately reviewed by the CODM and are assessed as part of the broader G&A category for decision-making purposes.</td></tr> <tr style="vertical-align: top"> <td style="text-align: justify; padding-left: 10pt; text-indent: -0.01pt"> </td> <td style="text-align: justify; padding-left: 10pt; text-indent: -0.01pt"> </td></tr> <tr style="vertical-align: top"> <td id="xdx_F05_zDad2nB9usuc" style="text-align: justify; padding-left: 10pt; text-indent: -0.01pt; width: 3%">3</td> <td id="xdx_F14_z32F76QbCcL7" style="text-align: justify; padding-left: 10pt; text-indent: -0.01pt; width: 97%">Cash used in operating activities is a key metric monitored by the CODM in evaluating resource needs, development pacing, and investment feasibility in the absence of revenue.</td></tr> </table>

2212000

2520000

3243000

3903000

7646000

10130000

10. SUBSEQUENT EVENTS On June 25, 2025, the Company received notice from Nasdaq stating the Company has regained compliance with Listing Rule 5550(a)(2), and that the matter is now closed. Reverse Split – Following the approval of a reverse stock split at a Special Meeting of Stockholders on May 13, 2025, our Board of Directors approved a 1-for-8 reverse stock split or our outstanding shares of Common Stock, effective as of the close of business on June 6, 2025 with an effective trading date of June 9, 2025. Accordingly, each 8 shares of outstanding common stock held by stockholders were combined into one share of common stock. Our authorized common stock remained at 60,000,000 shares following the stock split. We issued an additional 77 shares as a result of rounding up fractional shares related to the reverse stock split. On June 2 and June 16, 2025, the second and third patients, respectively, were treated with the Aethlon Hemopurifier at GenesisCare North Shore in Sydney, Australia. Each patient underwent a single 4-hour treatment session and tolerated the procedure without complications. Follow-up visits will include safety assessments, extracellular vesicle (EV) and T cell measurements, as well as imaging to evaluate clinical response. RSU Grants In April 2025, our Board of Directors approved, pursuant to the terms of the Director Compensation Policy, the grant of the annual RSUs under the Director Compensation Policy to each of the four non-employee directors of the Company then serving on the Board of Directors. The Director Compensation Policy provides for a grant of stock options or $50,000 worth of RSUs at the beginning of each fiscal year for current non-employee directors then serving on the Board of Directors, and for a grant of stock options or $75,000 worth of RSUs for a newly elected non-employee director, with each RSU priced at the average for the closing prices for the five days preceding and including the date of grant, or $2.80 per share for the RSUs granted in April 2025. As a result, in April 2025 the four eligible directors were each granted an RSU in the amount of 17,858 shares under the Company’s 2020 Equity Incentive Plan, or the 2020 Plan. The RSUs are subject to vesting in four equal installments, with 25% of the restricted stock units vesting on each of June 30, 2025, September 30, 2025, December 31, 2025, and March 31, 2026, subject in each case to the director’s Continuous Service (as defined in the 2020 Plan), through such dates. Vesting will terminate upon the director’s termination of Continuous Service prior to any vesting date.

Pursuant to Internal Revenue Code Section 382, use of our tax net operating loss carryforwards may be limited. The amount of the annual limitation, if any, will be determined based on the value of the Company immediately prior to an ownership change. Subsequent ownership changes may further affect the limitation in future years. If and when the Company utilizes the NOL carryforwards in a future period, it will perform an analysis to determine the effect, if any, of these loss limitation rules on the NOL carryforward balances. Pursuant to Internal Revenue Code Section 382, use of our tax net operating loss carryforwards may be limited. Research and development expenses consist primarily of costs related to laboratory operations, clinical trial execution, investigational device testing, design iterations, and personnel-related expenses associated with research activities. These costs are not confined to a single financial statement line item and may be classified within general and administrative expense, professional fees, or payroll, depending on their nature. These expenses are regularly reviewed by the CODM as a single category for internal decision-making purposes. General and administrative expense includes overhead, clinical trial-related administrative and planning costs, and manufacturing-related costs such as raw materials. These are not separately reviewed by the CODM and are assessed as part of the broader G&A category for decision-making purposes. Cash used in operating activities is a key metric monitored by the CODM in evaluating resource needs, development pacing, and investment feasibility in the absence of revenue.