Quarterly report pursuant to Section 13 or 15(d)

Fair Value Measurements (Tables)

v3.20.4
Fair Value Measurements (Tables)
 9 Months Ended
Dec. 31, 2020
Fair Value Disclosures [Abstract]  
Schedule of significant unobservable inputs used in measuring warrants
  Three Months
Ended 		    Nine Months
Ended		     Year Ended  
    December 31,
2020		     December 31,
2020		     March 31,
2020		  
      (Unaudited)       (Unaudited)          
Dividend yield     0 %     0 %     0 %
Expected price volatility     50 %     50 %     50 %
Risk free interest rate     0.36% - 0.37 %     0.11% - 0.41 %     1.61 - 2.18 %
Expected term     5 years       4-5 years       4 years  
Schedule of convertible notes share settlement feature
    November 30,
2020		     December 31,
2020		  
Risk Free Interest Rate     0.12 %     0.10 %
Expected life (years)     1.00       0.87  
Expected dividend yield     0 %     0 %
Expected volatility     50.0 %     50.0 %
Schedule of liabilities measured at fair value on a recurring basis into the fair value hierarchy
  Fair value measured at December 31, 2020 (Unaudited)  
    Total carrying value at December 31,
2020		     Quoted prices in active markets
 (Level 1)		     Significant other observable inputs
(Level 2)		     Significant unobservable inputs
(Level 3)		  
Liabilities:                        
Warrant liability   $ 2,542,415     $     -     $     -     $ 2,542,415  
Share settlement feature   $ 186,415     $ -     $ -     $ 186,415  

 

    Fair value measured at March 31, 2020  
    Total carrying value at March 31,
2020		     Quoted prices in active markets
 (Level 1)		     Significant other observable inputs
(Level 2)		     Significant unobservable inputs
(Level 3)		  
Liabilities:                        
Warrant liability   $ 1,733,718     $     -     $     -     $ 1,733,718  
Schedule of changes in Level 3 liabilities measured at fair value

    Warrant     Share Settlement  
    Liability     Feature  
Balance at March 31, 2020   $ 1,733,718     $ -  
Issuance of warrants in connection with convertible notes     703,343       -  
Change in fair value     (122,909 )     -  
Balance at June 30, 2020 (unaudited)   $ 2,314,152     $ -  
Issuance of warrants in connection with financing     515,426       -  
Issuance of placement agent warrants     74,755       -  
Change in fair value     861,366       -  
Balance at September 30, 2020 (unaudited)   $ 3,765,699     $ -  
Issuance of warrants in connection with convertible notes     239,105       225,186  
Change in fair value     598,899       (38,771 )
Reclassification of warrants to equity     (2,061,288 )     -  
Balance at December 31, 2020 (unaudited)   $ 2,542,415     $ 186,415  

 

    Warrant Liability  
Balance at March 31, 2019   $ 1,398,616  
Issuance of warrants in connection with convertible notes     200,334  
Change in fair value     (147,808 )
Balance at June 30, 2019 (unaudited)   $ 1,451,142  
Change in fair value     11,482  
Balance at September 30, 2019 (unaudited)   $ 1,462,624  
Change in fair value     -  
Balance at December 31, 2019 (unaudited)   $ 1,462,624