Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
 12 Months Ended
Mar. 31, 2019
Mar. 31, 2018
CASH FLOWS FROM OPERATING ACTIVITIES    
Net loss $ (2,679,022) $ (2,386,864)
Adjustment to reconcile net loss to net cash used in operating activities:    
Change in fair value of equity investments (429,755)
Amortization of debt discount 500,274
Fair value of shares issued for services 346,802 232,778
Fair value of shares issued to officers and directors 1,058,750 375,000
Depreciation 40,627 258
Amortization of intangible 224,512
Impairment of asset 893,667
Changes in operating assets and liabilities    
Accounts receivable (23,022) (6,709)
Inventory (49,663) (6,375)
Prepaid and other current assets 294,072 1,465
Other asset (5,500)
Accounts payable and accrued expenses 35,886 4,301
Net cash used in operating activities (905,051) (673,467)
CASH FLOWS FROM INVESTING ACTIVITIES    
Cash paid for business acquisition, net of cash acquired (711,739)
Acquisition of equity investments (168,537)
Purchase of property and equipment (1,555) (4,699)
Net cash used in investing activities (713,294) (173,236)
CASH FLOW FROM FINANCING ACTIVITIES    
Repurchase of shares previously issued (100,000)
Proceeds from issuance of convertible notes 1,529,455
Proceeds from issuance of common stock 75,000 795,000
Net cash provided by financing activities 1,604,455 695,000
NET CHANGE IN CASH (13,890) (151,703)
CASH, BEGINNING OF PERIOD 60,934 212,637
CASH, END OF PERIOD 47,044 60,934
NON-CASH INVESTING AND FINANCING ACTIVITIES    
Fair value of common stock issued upon conversion of convertible notes and accrued interest 1,604,956
Fair value of shares issued to consultants recorded as prepaid 4,167 $ 109,000
Fair value of common stock of $500,000 issued and $750,000 cash paid in acquisition allocated to:  
Current assets 401,148
Fixed assets 486,679
Costs in excess of net assets acquired 1,941,149
Current liabilities assumed (352,996)
Notes payable assumed (25,000)
Non controlling interest $ (1,200,980)