Transition report pursuant to Rule 13a-10 or 15d-10

Income Taxes (Tables)

v3.22.1
Income Taxes (Tables)
9 Months Ended
Dec. 31, 2021
Income Tax Disclosure [Abstract]  
Schedule of deferred tax assets
    December 31,     March 31,  
    2021     2021  
Net operating loss carryforwards   $ 7,229     $ 3,679  
Equity based compensation     986       544  
Accrued payroll    
-
      148  
Amortization     6       (20 )
Accruals and other temporary differences     2      
-
 
Gross Deferred Tax Assets     8,223       4,351  
Depreciation     (46 )     (1 )
Accruals and other temporary differences    
-
     
-
 
Less Valuation Allowance     (8,177 )     (4,350 )
Net Deferred Taxes   $
-
    $
-
 

 

Schedule of statutory income tax rates
    Nine months ended     Fiscal year
ended
 
    December 31,     March 31,  
    2021     2021  
Tax provision at statutory rate     21.0 %     21.0 %
State taxes, net of federal benefit    
-
%     1.1 %
Permanent items     0.6 %    
-
%
Stock-based compensation     (6.3 )%     (7.3 )%
Loss on extinguishment of debt    
-
%     (7.3 )%
Loss on exchange of notes payable for common stock and warrants    
-
%     (0.8 )%
Change in fair value of warrant liability    
-
%     (1.2 )%
Deferred tax true-up / return to provision     8.7 %     (2.0 )%
Tax reform rate change     (0.8 )%     - %
Change in valuation allowance     (23.2 )%     (3.5 )%
Income taxes provision (benefit)    
-
%    
-
%