Modular Medical (MODD) 10-Q 12 Nov 21 2022 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Sep. 30, 2021	Nov. 10, 2021
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Sep. 30, 2021
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2022
Current Fiscal Year End Date	--03-31
Entity File Number	000-49671
Entity Registrant Name	MODULAR MEDICAL, INC.
Entity Central Index Key	0001074871
Entity Tax Identification Number	87-0620495
Entity Incorporation, State or Country Code	NV
Entity Address, Address Line One	16772 W. Bernardo Drive
Entity Address, City or Town	San Diego
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	92127
City Area Code	858
Local Phone Number	800-3500
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Elected Not To Use the Extended Transition Period	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		19,100,154

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($)	Sep. 30, 2021	Mar. 31, 2021
CURRENT ASSETS
Cash and cash equivalents	$ 798,161	$ 1,468,465
Prepaid expenses	43,580	178,158
Other current assets	2,920	2,466
TOTAL CURRENT ASSETS	844,661	1,649,089
Property and equipment, net	268,138	298,958
Right of use asset, net	162,039	200,124
Security deposit	100,000	100,000
TOTAL NON-CURRENT ASSETS	530,177	599,082
TOTAL ASSETS	1,374,838	2,248,171
CURRENT LIABILITIES
Accounts payable	692,772	169,284
Accrued expenses	678,797	499,948
Short-term lease liability	134,914	125,500
PPP note payable		368,780
Convertible notes payable	4,855,260	2,133,453
TOTAL CURRENT LIABILITIES	6,361,743	3,296,965
LONG-TERM LIABILITIES
Long-term lease liability	113,909	184,355
Bonus payable		42,000
TOTAL LIABILITIES	6,475,652	3,523,320
STOCKHOLDERS’ DEFICIT
Preferred Stock, $0.001 par value, 5,000,000 shares authorized, none issued and outstanding
Common Stock, $0.001 par value, 50,000,000 shares authorized; 18,982,562 and 18,906,148 shares issued and outstanding as of September 30, 2021 and March 31, 2021, respectively	18,983	18,906
Additional paid-in capital	20,044,061	14,652,955
Accumulated deficit	(25,163,858)	(15,947,010)
TOTAL STOCKHOLDERS’ DEFICIT	(5,100,814)	(1,275,149)
TOTAL LIABILITIES AND STOCKHOLDERS’ DEFICIT	$ 1,374,838	$ 2,248,171

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Sep. 30, 2021	Mar. 31, 2021
Statement of Financial Position [Abstract]
Preferred Stock, Par or Stated Value Per Share	$ 0.001	$ 0.001
Preferred Stock, Shares Authorized	5,000,000	5,000,000
Preferred Stock, Shares Issued	0	0
Preferred Stock, Shares Outstanding	0	0
Common Stock, Par or Stated Value Per Share	$ 0.001	$ 0.001
Common Stock, Shares Authorized	50,000,000	50,000,000
Common Stock, Shares, Issued	18,982,562	18,906,148
Common Stock, Shares, Outstanding	18,982,562	18,906,148

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Operating expenses
Research and development	$ 2,105,380	$ 1,092,665	$ 3,893,511	$ 2,063,480
General and administrative	1,589,032	766,513	3,174,489	1,669,910
Total operating expenses	3,694,412	1,859,178	7,068,000	3,733,390
Loss from operations	(3,694,412)	(1,859,178)	(7,068,000)	(3,733,390)
Other income	48	49	368,872	104
Interest expense	(685,793)		(1,194,670)
Loss on debt extinguishment			(1,321,450)
Loss before income taxes	(4,380,157)	(1,859,129)	(9,215,248)	(3,733,286)
Provision for income taxes	1,600	1,600	1,600	1,600
Net Loss	$ (4,381,757)	$ (1,860,729)	$ (9,216,848)	$ (3,734,886)
Net loss per share
Basic and diluted	$ (0.23)	$ (0.10)	$ (0.49)	$ (0.20)
Shares used in computing net loss per share
Basic and diluted	18,971,775	18,600,158	18,962,747	18,469,805

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Stockholders' Equity (Deficit) (Unaudited) - USD ($)	Common Stock [Member]	Additional Paid-in Capital [Member]	Common Stock Issuable	Retained Earnings [Member]	Total
Beginning balance, value at Mar. 31, 2020	$ 17,870	$ 10,505,592	$ 923,994	$ (8,569,034)	$ 2,878,422
Shares, Outstanding, Beginning Balance at Mar. 31, 2020	17,870,261
Stock-based compensation		344,716			344,716
Net loss				(1,874,157)	(1,874,157)
Ending balance, value at Jun. 30, 2020	$ 18,600	12,892,206		(10,443,191)	2,467,615
Shares, Outstanding, Ending Balance at Jun. 30, 2020	18,600,158
Private placement of common stock	$ 730	2,041,898	(923,994)		1,118,634
Stock Issued During Period, Shares, New Issues	729,897
Beginning balance, value at Mar. 31, 2020	$ 17,870	10,505,592	923,994	(8,569,034)	2,878,422
Shares, Outstanding, Beginning Balance at Mar. 31, 2020	17,870,261
Warrants issued with convertible notes
Stock-based compensation					645,320
Net loss					(3,734,886)
Ending balance, value at Sep. 30, 2020	$ 18,600	13,192,810		(12,303,920)	907,490
Shares, Outstanding, Ending Balance at Sep. 30, 2020	18,600,158
Beginning balance, value at Jun. 30, 2020	$ 18,600	12,892,206		(10,443,191)	2,467,615
Shares, Outstanding, Beginning Balance at Jun. 30, 2020	18,600,158
Stock-based compensation		300,604			300,604
Net loss				(1,860,729)	(1,860,729)
Ending balance, value at Sep. 30, 2020	$ 18,600	13,192,810		(12,303,920)	907,490
Shares, Outstanding, Ending Balance at Sep. 30, 2020	18,600,158
Beginning balance, value at Mar. 31, 2021	$ 18,906	14,652,955		(15,947,010)	(1,275,149)
Shares, Outstanding, Beginning Balance at Mar. 31, 2021	18,906,148
Shares issued for services	$ 60	172,140			172,200
Stock Issued During Period, Shares, Issued for Services	60,000
Warrants issued with convertible notes		3,700,632			3,700,632
Stock-based compensation	$ 6	655,914			655,920
Stock-based compensation, Shares	5,508
Net loss				(4,835,091)	(4,835,091)
Ending balance, value at Jun. 30, 2021	$ 18,972	19,181,641		(20,782,101)	(1,581,488)
Shares, Outstanding, Ending Balance at Jun. 30, 2021	18,971,656
Beginning balance, value at Mar. 31, 2021	$ 18,906	14,652,955		(15,947,010)	(1,275,149)
Shares, Outstanding, Beginning Balance at Mar. 31, 2021	18,906,148
Warrants issued with convertible notes					3,700,632
Stock-based compensation					1,518,351
Stock-based compensation, Shares	16,414
Net loss					(9,216,848)
Ending balance, value at Sep. 30, 2021	$ 18,983	20,044,061		(25,163,858)	(5,100,814)
Shares, Outstanding, Ending Balance at Sep. 30, 2021	18,982,562
Stock Issued During Period, Shares, New Issues	60,000
Beginning balance, value at Jun. 30, 2021	$ 18,972	19,181,641		(20,782,101)	(1,581,488)
Shares, Outstanding, Beginning Balance at Jun. 30, 2021	18,971,656
Stock-based compensation	$ 11	862,420			862,431
Stock-based compensation, Shares	10,906
Net loss				(4,381,757)	(4,381,757)
Ending balance, value at Sep. 30, 2021	$ 18,983	$ 20,044,061		$ (25,163,858)	$ (5,100,814)
Shares, Outstanding, Ending Balance at Sep. 30, 2021	18,982,562

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Statement of Cash Flows [Abstract]
Net loss	$ (9,216,848)	$ (3,734,886)
Adjustments to reconcile net loss to net cash used in operating activities:
Gain on PPP note forgiveness	(368,780)
Loss on debt extinguishment	1,321,450
Stock-based compensation expense	1,518,351	645,320
Depreciation and amortization	53,599	52,314
Shares issued for services	314,265
Amortization of lease right-to-use asset	38,085	35,923
Change in lease liability	(61,032)	94,518
Amortization of debt discount	824,439
Changes in assets and liabilities:
Prepaid expenses and other assets	(7,941)	28,659
Accounts payable and accrued expenses	799,687	(151,519)
Net cash used in operating activities	(4,784,725)	(3,029,671)
CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of property and equipment	(22,779)	(93,303)
Net cash used in investing activities	(22,779)	(93,303)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from private placement, net of issuance costs		1,118,634
Proceeds from issuance of convertible notes, net of placement fees	4,137,200
Proceeds from issuance of PPP note payable		368,780
Net cash provided by financing activities	4,137,200	1,487,414
Net decrease in cash and cash equivalents	(670,304)	(1,635,560)
Cash and cash equivalents at beginning of period	1,468,465	3,122,134
Cash and cash equivalents at end of period	798,161	1,486,574
Noncash investing and financing activities:
Fair value of detachable warrants issued with convertible notes	$ 3,700,632

THE COMPANY AND SUMMARY OF SIGN

THE COMPANY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
	Sep. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
THE COMPANY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 1 – THE COMPANY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Modular Medical, Inc. (the Company) was incorporated in Nevada in October 1998 under the name Bear Lake Recreation, Inc. The Company had no material business operations from 2002 until approximately 2017 when it acquired all of the issued and outstanding shares of Quasuras, Inc., a Delaware corporation (Quasuras). As the major shareholder of Quasuras retained control of both the Company and Quasuras, the share exchange was accounted for as a reverse merger. As such, the Company recognized the assets and liabilities of Quasuras acquired in the merger, at their historical carrying amounts. Prior to the acquisition of Quasuras and since at least 2002, the Company was a shell company, as defined in Rule 12b-2 promulgated under the Securities Exchange Act of 1934 (the Exchange Act). In June 2017, the Company changed its name from Bear Lake Recreation, Inc. to Modular Medical, Inc. The Company is a development-stage, medical-device company focused on the design, development, and commercialization of an innovative insulin pump using modernized technology to increase pump adoption in the diabetes marketplace. Through the creation of a novel two-part, patch pump product, the Company seeks to fundamentally alter the trade-offs between cost and complexity and access to the higher standards of care that presently available insulin pumps provide. By simplifying and streamlining the user experience from introduction, prescription, reimbursement, training and day-to-day use, the Company seeks to expand the wearable insulin delivery device market beyond the highly motivated “super users” and expand the category into the mass market. The Company’s pump product seeks to serve both the type 1 and type 2 diabetes markets. Liquidity Financial Accounting Standards Board (FASB) Accounting Standard Update (ASU) No. 2014-15 (ASU 2014-15), Going Concern The Company expects to continue to incur operating losses for the foreseeable future and incur cash outflows from operations as it continues to invest in the development and subsequent commercialization of its product. The Company expects that its research and development and general and administrative expenses will continue to increase, and, as a result, it will eventually need to generate significant product revenues to achieve profitability. The Company’s expected operating losses and cash burn and the need to repay the convertible promissory notes and accrued interest in the first half of 2022 raise substantial doubt about the Company’s ability to continue as a going concern within one year after the date that these financial statements are issued. Implementation of the Company’s plans and its ability to continue as a going concern will depend upon the Company’s ability to raise additional capital, through the sale of additional equity or debt securities, to support its future operations. There can be no assurance that such additional capital, whether in the form of debt or equity financing, will be sufficient or available and, if available, that such capital will be offered on terms and conditions acceptable to the Company. As disclosed in note 9, the Company recently sold shares of its common stock to two of its officers, obtained access to a credit facility and filed a registration statement to offer shares of its common stock. The Company’s operating needs include the planned costs to operate its business, including amounts required to repay its convertible promissory notes (if not converted), fund working capital and capital expenditures. The Company’s future capital requirements and the adequacy of its available funds will depend on many factors, including the Company’s ability to successfully commercialize its product, competing technological and market developments, and the need to enter into collaborations with other companies or acquire other companies or technologies to enhance or complement its product offering. If the Company is unable to secure additional capital, it may be required to curtail its research and development initiatives and take additional measures to reduce costs in order to conserve its cash. These condensed consolidated financial statements do not include any adjustments that might result from this uncertainty. Basis of Presentation The Company’s fiscal year ends on March 31 of each calendar year. Each reference to a fiscal year in these notes to the condensed consolidated financial statements refers to the fiscal year ended March 31 of the calendar year indicated (for example, fiscal 2022 refers to the fiscal year ending March 31, 2022). The condensed consolidated financial statements include the accounts of the Company and its wholly-owned subsidiary, Quasuras. All significant intercompany transactions and balances have been eliminated in consolidation. The accompanying condensed consolidated financial statements of the Company have been prepared without audit. The condensed consolidated balance sheet as of March 31, 2021 has been derived from the audited consolidated financial statements at that date. Certain information and disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States (GAAP) have been condensed or omitted in accordance with these rules and regulations of the Securities and Exchange Commission (SEC). The information in this report should be read in conjunction with the Company’s consolidated financial statements and notes thereto included in its most recent annual report on Form 10-K filed with the SEC. In the opinion of management, the accompanying unaudited condensed consolidated financial statements reflect all adjustments (consisting only of normal recurring adjustments) necessary to summarize fairly the Company’s financial position, results of operations and cash flows for the interim periods presented. The operating results for the three months ended September 30, 2021 are not necessarily indicative of the results that may be expected for the year ending March 31, 2022 or for any other future period. Use of Estimates The preparation of the accompanying consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amount of revenues and expenses during the reporting period. Estimates may include those pertaining to accruals, stock-based compensation and income taxes. Actual results could differ from those estimates. Reportable Segment The Company operates in one Research and Development The Company expenses research and development expenditures as incurred. General and Administrative General and administrative expenses consist primarily of payroll and benefit costs, rent, stock-based compensation, legal and accounting fees, and office and other administrative expenses. Concentration of Credit Risk Financial instruments that potentially subject the Company to concentration of credit risk consist primarily of cash. The Company maintains its cash balances at high-quality financial institutions within the United States, which are insured by the Federal Deposit Insurance Corporation up to limits of approximately $250,000. No reserve has been made in the financial statements for any possible loss due to financial institution failure. Risks and Uncertainties The Company is subject to risks from, among other things, competition associated with the industry in general, other risks associated with financing, liquidity requirements, rapidly changing technology and customer requirements, limited operating history and the volatility of public markets. COVID-19 The global outbreak of the coronavirus disease 2019 (COVID-19) was declared a pandemic by the World Health Organization and a national emergency by the U.S. government in March 2020. This has negatively affected the U.S. and global economy, disrupted global supply chains, significantly restricted travel and transportation, resulted in mandated closures and orders to “shelter-in-place” and created significant disruption of the financial markets. The full extent of the COVID-19 impact on the Company’s operational and financial performance will depend on future developments, including the duration and spread of the pandemic and related actions taken by U.S. and foreign government agencies to prevent disease spread, all of which are uncertain, out of the Company’s control, and cannot be predicted. Cash and Cash Equivalents Cash and cash equivalents include cash on hand and cash in demand deposits, certificates of deposit and highly liquid debt instruments with original maturities of three months or less. Property & Equipment Property and equipment are originally recorded at cost. Depreciation is computed using the straight-line method over the estimated useful lives of the assets, generally three five Fair Value of Financial Instruments The Company measures the fair value of financial instruments using a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value into three broad levels: · Level 1 inputs to the valuation methodology are quoted prices for identical assets or liabilities in active markets. · Level 2 inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument. · Level 3 inputs to the valuation methodology are unobservable and significant to the fair value measurement. Due to their short-term nature, the carrying values of cash equivalents, accounts payable and accrued expenses approximate fair value. Per-Share Amounts Basic net loss per share is computed by dividing loss for the period by the weighted-average number of shares of common stock outstanding during the period. Diluted net loss per share gives effect to all potentially dilutive common shares outstanding during the period. For the six months ended September 30, 2021 and 2020, outstanding options to purchase 4,972,948 3,480,088 Reclassification Certain prior year amounts have been reclassified for consistency with the current period presentation. These reclassifications had no effect on the reported results of operations or cash flows. Comprehensive Loss Comprehensive loss represents the changes in equity of an enterprise, other than those resulting from stockholder transactions. Accordingly, comprehensive loss may include certain changes in equity that are excluded from net loss. For the three and six months ended September 30, 2021 and 2020, the Company’s comprehensive loss was the same as its net loss. Recently Adopted Accounting Pronouncement In August 2020, the FASB issued ASU No. 2020-06, Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging-Contracts in Entity’s Own Equity (Subtopic 815-40)-Accounting For Convertible Instruments and Contracts in an Entity’s Own Equity .

LEASES

LEASES	6 Months Ended
	Sep. 30, 2021
Leases [Abstract]
LEASES	NOTE 2 – LEASES Effective April 1, 2019, the Company adopted ASU No. 2016-02, Leases 39 12,400 3% The Company obtained a right-of-use asset of $ 270,950 139,000 Future minimum payments under the facility operating lease, as of September 30, 2021, are listed in the table below. Operating Annual Fiscal Years lease 2022 76,716 2023 158,028 2024 40,692 Less: Imputed interest (26,613 ) Present value of lease liabilities $ 248,823 Cash paid for amounts included in the measurement of lease liabilities was $ 76,716 53,768 53,768 26,884 26,844

PPP NOTE

PPP NOTE	6 Months Ended
	Sep. 30, 2021
Ppp Note
PPP NOTE	NOTE 3 – PPP NOTE On April 24, 2020, the Company received a $ 368,780 The Company applied to the Lender for forgiveness of the PPP Note in October 2020, and, in May 2021, the Company was notified by the Lender and the U.S. Small Business Administration that the outstanding principal and accrued interest for the PPP Note was forgiven in full. The Company accounted for the forgiveness of the PPP Note in accordance with Accounting Standards Codification Topic 470: Debt (ASC 470), and the amount forgiven was recorded as a gain on extinguishment and recognized in the other income line of the condensed consolidated statement of operations.

CONVERTIBLE PROMISSORY NOTES

CONVERTIBLE PROMISSORY NOTES	6 Months Ended
	Sep. 30, 2021
Debt Disclosure [Abstract]
CONVERTIBLE PROMISSORY NOTES	NOTE 4 – CONVERTIBLE PROMISSORY NOTES From February through April 2021, the Company sold $2,310,000 of convertible promissory notes (each an Original Notes and, collectively, the Original Notes), at par in a private placement transaction effected pursuant to an exemption from the registration requirements under the Securities Act of 1933, as amended. Effective April 30, 2021, pursuant to a revocation and replacement agreement between each holder of an Original Note and the Company (the Revocation Agreement), the $2,310,000 of Original Notes and accrued interest thereon as of April 30, 2021 were replaced with $2,360,550 aggregate principal amount of new Notes (as defined below). The Company accounted for the replacement of the Original Notes in accordance with ASC 470 and recorded a loss on extinguishment of $ 1,321,450 70,647 In April and May 2021, pursuant to a Securities Purchase Agreement by and between the Company and each investor (the SPA), the Company sold to investors $ 4,250,000 th Notes outstanding after the Trigger Date may be converted into shares of the Company’s common stock at an initial conversion price of $2.87 per share; provided that a Note holder may not convert any portion of its Note that would cause it to beneficially own in excess of 4.99% of the Company’s outstanding common stock. The conversion price and number of shares of Company common stock issuable upon conversion of the Notes are subject to adjustment from time to time for subdivisions and consolidations of shares and other standard dilutive and corporate events, as provided in the Notes. Subject to certain Exempt Issuances (as defined in the Notes), if while a Note is outstanding, the Company sells, issues or grants any shares of its common stock or other securities to acquire shares of common stock at a price per share less than the then conversion price, such conversion price shall be reduced to such lesser price, and the number of conversion shares issuable upon conversion of the Notes shall be increased, as provided in the Notes. If the Company completes an offering of its common stock or other securities in excess of $12,000,000 of gross proceeds (a Qualified Capital Raise, as defined in the Notes), each Note holder will be required to convert its Adjusted Note Amount (as defined below) into the securities of such Qualified Capital Raise. Adjusted Note Amount equals the product of (i) the sum of all outstanding principal plus accrued interest on a Note, multiplied by (ii) 1.25. The Notes contain a number of Company events of default (Events of Default) including, without limitation (i) failure to pay any principal or interest thereon when due, (ii) failure to timely deliver shares upon conversions, (iii) failure to comply with SEC reporting requirements under the Exchange Act, (iv) certain breaches of the SPA, the Notes, the Warrants, and the Registration Rights Agreement, (v) material restatements of the Company’s consolidated financial statements filed with the SEC, (vi) a holder’s inability to rely on Rule 144 for sales of shares underlying the Notes, (vii) the Company’s common stock is suspended or halted from trading and/or fails to be quoted or listed (as applicable) on the OTCQB, OTCQX, any tier of the NASDAQ Stock Market, the New York Stock Exchange, or the NYSE American within 10 days thereafter, (viii) failure to file with the SEC a registration statement covering the resale of shares of common stock underlying the Notes and Warrants within 60 calendar days following the Issue Date, (ix) failure to cause such registration statement to become effective within 120 calendar days following the Issue Date, or (x) certain mergers consolidations, business combinations and sales of all or substantially all of the Company’s assets in the event the Company is not the survivor of such transaction. Upon an Event of Default, a Note holder may declare all amounts under its Note(s) due and payable, in which event the Company will be required to pay such Note holder the sum of (i) the product of (a) all then outstanding principal amount and accrued interest thereon, multiplied by (b) 125%; and (ii) all collection costs including legal fees and expenses in connection therewith. At the option of a Note holder, in the event the Company receives cash proceeds as a result of certain events, including, but not limited to, payments from customers, issuances of debt or equity securities, exercise of warrants or asset sales, the Company will be required to use such proceeds to repay all or any lesser outstanding amounts due under such holder’s Note. The Notes include covenants, representations, warranties, other payment obligations and agreements by the Company including, without limitation, most-favored nation rights, rights of participation and first refusal and exchange rights. In connection with the issuance of the Notes, the Company issued Warrants to purchase in the aggregate 2,303,348 shares of its common stock at an initial exercise price of $8.00 per share. The Warrants may be exercised for a period of five years from the Trigger Date, provided that, if prior to the Trigger Date, the Company (i) completes a Qualified Capital Raise, the outstanding Warrants shall be cancelled or (ii) prepays a holder’s Note(s) in whole or in part, such holder’s pro-rata number of Warrants shall be cancelled. The fair value of the Warrants was $3,700,632, of which $2,379,182 was recorded as a debt discount, which is being amortized to interest expense over the term of the Warrants, and $1,321,450 was recorded as a loss on debt extinguishment. The Company calculated the fair value of the Warrants utilizing the Black-Scholes valuation model with the following assumptions: volatility of 88.98% 0.86% 5.75 zero In connection with the April and May 2021 sales of the $4,250,000 aggregate principal amount of the Notes, the Company incurred debt issuance costs of $116,000, which were recorded as a debt discount and are being amortized to interest expense over the term of the Notes using the effective interest rate method. The interest expense attributable to the debt discount, comprising the debt issuance costs and Warrants, during the three and six months ended September 30, 2021 was $485,820 and $824,439, respectively. The $6,610,550 aggregate principal amount of Notes are due and payable in full in the first quarter of fiscal 2023. Subsequent to the Trigger Date, the Notes can be converted into 2,303,348

STOCKHOLDERS_ EQUITY (DEFICIT)

STOCKHOLDERS’ EQUITY (DEFICIT) & STOCK-BASED COMPENSATION	6 Months Ended
	Sep. 30, 2021
Equity [Abstract]
STOCKHOLDERS’ EQUITY (DEFICIT) & STOCK-BASED COMPENSATION	NOTE 5 – STOCKHOLDERS’ EQUITY (DEFICIT) & STOCK-BASED COMPENSATION During the six months ended September 30, 2021, the Company issued 60,000 16,414 Amended 2017 Equity Incentive Plan In October 2017, the Company’s board of directors (the Board) approved the 2017 Equity Incentive Plan (the Plan) with 3,000,000 1,000,000 4,000,000 Stock-Based Compensation Expense The expense relating to stock options is recognized on a straight-line basis over the requisite service period, usually the vesting period, based on the grant date fair value. The unamortized compensation cost, as of September 30, 2021, was $ 5,988,541 three years During the six months ended September 30, 2021, the Company granted options to purchase 1,371,471 129,117 5,464,619 845,979 The following assumptions were used in the fair value method calculations: Schedule of Fair Value Assumptions Three Months Ended September 30, Six Months Ended September 30, 2021 2020 2021 2020 Risk-free interest rates 0.8% 0.98% 0.28% 0.37% 0.8% 0.98% 0.28% 0.37% Volatility 367% 370% 88% 127% 89% 370% 88% 128% Expected life (years) 5.0 6.2 5.0 6.0 5.0 6.2 5.0 6.0 Dividend yield — — — — The fair values of options at the grant date were estimated utilizing the Black-Scholes valuation model, which includes simplified methods to establish the fair term of options as well as average volatility of three comparable organizations. The risk-free interest rate was derived from the Daily Treasury Yield Curve Rates, as published by the U.S. Department of the Treasury as of the grant date for terms equal to the expected terms of the options. A dividend yield of zero was applied because the Company has never paid dividends and has no intention to pay dividends in the foreseeable future. In accordance with ASU No. 2016-09, the Company accounts for forfeitures as they occur. A summary of stock option activity under the Plan is presented below: Schedule of Stock Option activity Options Outstanding Weighted Shares Average Available Number of Exercise for Grant Shares Prices Balance at March 31, 2021 408,245 3,591,755 $ 1.75 Options granted (182,321 ) 182,321 4.23 Share awards (5,508 ) — — Options cancelled and returned to the Plan 22,639 (22,639 ) 2.87 Balance at June 30, 2021 243,055 3,751,437 1.86 Additional shares authorized under the Plan 4,000,000 — — Options granted (1,189,150 ) 1,189,150 4.05 Share awards (10,906 ) — — Options cancelled and returned to the Plan 147,639 (147,639 ) 2.34 Balance at September 30, 2021 3,190,638 4,792,948 2.39 There were no stock options exercised during the six months ended September 30, 2021 and 2020. The following table summarizes the range of outstanding and exercisable options as of September 30, 2021: Schedule of Outstanding and Exercisable Option, Range Options Outstanding Options Exercisable Range of Exercise Price Number Weighted Weighted Number Weighted Aggregate $ 0.66 5.90 4,792,948 8.09 $ 2.39 2,609,002 $ 1.54 $ 4,022,239 The intrinsic value per share is calculated as the excess of the closing price of the common stock on the Company’s principal trading market over the exercise price of the option at September 30, 2021. The Company is required to present the tax benefits resulting from tax deductions in excess of the compensation cost recognized from the exercise of stock options as financing cash flows in the consolidated statements of cash flows. For the six months ended September 30, 2021 and 2020, there were no such tax benefits associated with the exercise of stock options.

INCOME TAXES

INCOME TAXES	6 Months Ended
	Sep. 30, 2021
Income Tax Disclosure [Abstract]
INCOME TAXES	NOTE 6 – INCOME TAXES The Company determines deferred tax assets and liabilities based upon the differences between the financial statement and tax bases of the Company’s assets and liabilities using tax rates in effect for the year in which the Company expects the differences to affect taxable income. A valuation allowance is established for any deferred tax assets for which it is more likely than not that all or a portion of the deferred tax assets will not be realized. Based on the available information and other factors, management believes it is more likely than not that its federal and state net deferred tax assets will not be fully realized, and the Company has recorded a full valuation allowance. The Company files U.S. federal and state income tax returns in jurisdictions with varying statutes of limitations. All tax returns for fiscal 2016 to fiscal 2020 may be subject to examination by the U.S. federal and state tax authorities. As of September 30, 2021, the Company has not recorded any liability for unrecognized tax benefits related to uncertain tax positions.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	6 Months Ended
	Sep. 30, 2021
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	NOTE 7 – RELATED PARTY TRANSACTIONS In February 2021, the Company’s chairman of the Board and president and an existing investor, who is represented by a member of the Company’s board of directors, purchased $100,000 and $1,000,000, aggregate principal amount of the Original Notes, respectively. Effective April 30, 2021, the related party holders entered into revocation agreements with the Company pursuant to which their collective $ 1,100,000 50,091 1,026,630 and $ 102,663 , respectively, with $ 51,640 and $ 5,164 of interest payable thereon. For the three months ended September 30, 2021, the Company incurred interest expense of approximately $ 31,105 3,100 51,600 5,160 In May 2021, a member of the Board purchased $ 200,000 aggregate principal amount of Notes (the Director Note). For the three and six months ended September 30, 2021, the Company incurred expense of approximately $ 4,000 10,060 10,060

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	6 Months Ended
	Sep. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	NOTE 8 – COMMITMENTS AND CONTINGENCIES Litigations, Claims and Assessments In the normal course of business, the Company may be involved in legal proceedings, claims and assessments arising in the ordinary course of business. The Company records legal costs associated with loss contingencies as incurred and accrues for all probable and estimable settlements. Indemnification In the ordinary course of business, the Company enters into contractual arrangements under which it may agree to indemnify the counterparties from any losses incurred relating to breach of representations and warranties, failure to perform certain covenants, or claims and losses arising from certain events as outlined within the particular contract, which may include, for example, losses arising from litigation or claims relating to past performance. Such indemnification clauses may not be subject to maximum loss clauses. The Company has also entered into indemnification agreements with its officers and directors. No amounts were reflected in the Company’s consolidated financial statements for the six months ended September 30, 2021 and 2020 related to these indemnifications. The Company has not estimated the maximum potential amount of indemnification liability under these agreements due to the limited history of prior claims and the unique facts and circumstances applicable to each particular agreement. To date, the Company has not made any payments related to these indemnification agreements, and no claims for payment have been made under such agreements.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	6 Months Ended
	Sep. 30, 2021
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	NOTE 9 – SUBSEQUENT EVENTS Officer Stock Purchases On October 28, 2021, the Company entered into purchase agreements with two of its executive officers, providing for the sale and issuance by the Company of 92,592 250,000 Credit Facility and Security Agreement On October 28, 2021, the Company issued a secured promissory note (the Bridge Note) to Manchester Explorer, L.P. (Manchester) that provides the Company with a $ 3,000,000 The principal amount of the Bridge Note and interest due thereon is payable to Manchester no later than the earlier of: (i) the Maturity Date and (ii) the date on which the Company has received proceeds in excess of $12,000,000 from a transaction or series of related transactions occurring prior to the Maturity Date, which such transactions constitute equity financings or other issuances of the Company's equity securities. Provided that no Event of Default (as such term is defined in the Bridge Note) has occurred, on any date prior to the Maturity Date, upon no less than three days written notice by the Company specifying the draw amount, Manchester will advance the draw amount to the Company. No draw amount can be in an amount less than $100,000 or exceed an amount equal to $3,000,000 minus the aggregate principal amount outstanding under the Note at the time of such draw request. If an Event of Default occurs and is continuing, Manchester may declare all of the Bridge Note, including any interest and other amounts due, to be due and payable immediately. In connection with the issuance of the Bridge Note, on October 28, 2021, the Company entered into a security agreement with Manchester under which the Company granted Manchester a continuing and unconditional first priority security interest in and to any and all of the Company’s property of any kind or description, tangible or intangible, wheresoever located and whether now existing or hereafter arising or acquired. On November 9, 2021, the Company made an initial draw of $ 500,000

THE COMPANY AND SUMMARY OF SI_2

THE COMPANY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
	Sep. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Liquidity	Liquidity Financial Accounting Standards Board (FASB) Accounting Standard Update (ASU) No. 2014-15 (ASU 2014-15), Going Concern The Company expects to continue to incur operating losses for the foreseeable future and incur cash outflows from operations as it continues to invest in the development and subsequent commercialization of its product. The Company expects that its research and development and general and administrative expenses will continue to increase, and, as a result, it will eventually need to generate significant product revenues to achieve profitability. The Company’s expected operating losses and cash burn and the need to repay the convertible promissory notes and accrued interest in the first half of 2022 raise substantial doubt about the Company’s ability to continue as a going concern within one year after the date that these financial statements are issued. Implementation of the Company’s plans and its ability to continue as a going concern will depend upon the Company’s ability to raise additional capital, through the sale of additional equity or debt securities, to support its future operations. There can be no assurance that such additional capital, whether in the form of debt or equity financing, will be sufficient or available and, if available, that such capital will be offered on terms and conditions acceptable to the Company. As disclosed in note 9, the Company recently sold shares of its common stock to two of its officers, obtained access to a credit facility and filed a registration statement to offer shares of its common stock. The Company’s operating needs include the planned costs to operate its business, including amounts required to repay its convertible promissory notes (if not converted), fund working capital and capital expenditures. The Company’s future capital requirements and the adequacy of its available funds will depend on many factors, including the Company’s ability to successfully commercialize its product, competing technological and market developments, and the need to enter into collaborations with other companies or acquire other companies or technologies to enhance or complement its product offering. If the Company is unable to secure additional capital, it may be required to curtail its research and development initiatives and take additional measures to reduce costs in order to conserve its cash. These condensed consolidated financial statements do not include any adjustments that might result from this uncertainty.
Basis of Presentation	Basis of Presentation The Company’s fiscal year ends on March 31 of each calendar year. Each reference to a fiscal year in these notes to the condensed consolidated financial statements refers to the fiscal year ended March 31 of the calendar year indicated (for example, fiscal 2022 refers to the fiscal year ending March 31, 2022). The condensed consolidated financial statements include the accounts of the Company and its wholly-owned subsidiary, Quasuras. All significant intercompany transactions and balances have been eliminated in consolidation. The accompanying condensed consolidated financial statements of the Company have been prepared without audit. The condensed consolidated balance sheet as of March 31, 2021 has been derived from the audited consolidated financial statements at that date. Certain information and disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States (GAAP) have been condensed or omitted in accordance with these rules and regulations of the Securities and Exchange Commission (SEC). The information in this report should be read in conjunction with the Company’s consolidated financial statements and notes thereto included in its most recent annual report on Form 10-K filed with the SEC. In the opinion of management, the accompanying unaudited condensed consolidated financial statements reflect all adjustments (consisting only of normal recurring adjustments) necessary to summarize fairly the Company’s financial position, results of operations and cash flows for the interim periods presented. The operating results for the three months ended September 30, 2021 are not necessarily indicative of the results that may be expected for the year ending March 31, 2022 or for any other future period.
Use of Estimates	Use of Estimates The preparation of the accompanying consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amount of revenues and expenses during the reporting period. Estimates may include those pertaining to accruals, stock-based compensation and income taxes. Actual results could differ from those estimates.
Reportable Segment	Reportable Segment The Company operates in one
Research and Development	Research and Development The Company expenses research and development expenditures as incurred.
General and Administrative	General and Administrative General and administrative expenses consist primarily of payroll and benefit costs, rent, stock-based compensation, legal and accounting fees, and office and other administrative expenses.
Concentration of Credit Risk	Concentration of Credit Risk Financial instruments that potentially subject the Company to concentration of credit risk consist primarily of cash. The Company maintains its cash balances at high-quality financial institutions within the United States, which are insured by the Federal Deposit Insurance Corporation up to limits of approximately $250,000. No reserve has been made in the financial statements for any possible loss due to financial institution failure.
Risks and Uncertainties	Risks and Uncertainties The Company is subject to risks from, among other things, competition associated with the industry in general, other risks associated with financing, liquidity requirements, rapidly changing technology and customer requirements, limited operating history and the volatility of public markets. COVID-19 The global outbreak of the coronavirus disease 2019 (COVID-19) was declared a pandemic by the World Health Organization and a national emergency by the U.S. government in March 2020. This has negatively affected the U.S. and global economy, disrupted global supply chains, significantly restricted travel and transportation, resulted in mandated closures and orders to “shelter-in-place” and created significant disruption of the financial markets. The full extent of the COVID-19 impact on the Company’s operational and financial performance will depend on future developments, including the duration and spread of the pandemic and related actions taken by U.S. and foreign government agencies to prevent disease spread, all of which are uncertain, out of the Company’s control, and cannot be predicted.
Cash and Cash Equivalents	Cash and Cash Equivalents Cash and cash equivalents include cash on hand and cash in demand deposits, certificates of deposit and highly liquid debt instruments with original maturities of three months or less.
Property & Equipment	Property & Equipment Property and equipment are originally recorded at cost. Depreciation is computed using the straight-line method over the estimated useful lives of the assets, generally three five
Fair Value of Financial Instruments	Fair Value of Financial Instruments The Company measures the fair value of financial instruments using a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value into three broad levels: · Level 1 inputs to the valuation methodology are quoted prices for identical assets or liabilities in active markets. · Level 2 inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument. · Level 3 inputs to the valuation methodology are unobservable and significant to the fair value measurement. Due to their short-term nature, the carrying values of cash equivalents, accounts payable and accrued expenses approximate fair value.
Per-Share Amounts	Per-Share Amounts Basic net loss per share is computed by dividing loss for the period by the weighted-average number of shares of common stock outstanding during the period. Diluted net loss per share gives effect to all potentially dilutive common shares outstanding during the period. For the six months ended September 30, 2021 and 2020, outstanding options to purchase 4,972,948 3,480,088
Reclassification	Reclassification Certain prior year amounts have been reclassified for consistency with the current period presentation. These reclassifications had no effect on the reported results of operations or cash flows.
Comprehensive Loss	Comprehensive Loss Comprehensive loss represents the changes in equity of an enterprise, other than those resulting from stockholder transactions. Accordingly, comprehensive loss may include certain changes in equity that are excluded from net loss. For the three and six months ended September 30, 2021 and 2020, the Company’s comprehensive loss was the same as its net loss.
Recently Adopted Accounting Pronouncement	Recently Adopted Accounting Pronouncement In August 2020, the FASB issued ASU No. 2020-06, Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging-Contracts in Entity’s Own Equity (Subtopic 815-40)-Accounting For Convertible Instruments and Contracts in an Entity’s Own Equity .

LEASES (Tables)

LEASES (Tables)	6 Months Ended
	Sep. 30, 2021
Leases [Abstract]
Future minimum payments under the facility operating lease, as of September 30, 2021, are listed in the table below.	Future minimum payments under the facility operating lease, as of September 30, 2021, are listed in the table below.
LEASES	Operating Annual Fiscal Years lease 2022 76,716 2023 158,028 2024 40,692 Less: Imputed interest (26,613 ) Present value of lease liabilities $ 248,823

STOCKHOLDERS_ EQUITY (DEFICIT_2

STOCKHOLDERS’ EQUITY (DEFICIT) & STOCK-BASED COMPENSATION (Tables)	6 Months Ended
	Sep. 30, 2021
Equity [Abstract]
Schedule of Fair Value Assumptions	The following assumptions were used in the fair value method calculations: Schedule of Fair Value Assumptions
STOCKHOLDERS' EQUITY (DEFICIT) & STOCK-BASED COMPENSATION	Three Months Ended September 30, Six Months Ended September 30, 2021 2020 2021 2020 Risk-free interest rates 0.8% 0.98% 0.28% 0.37% 0.8% 0.98% 0.28% 0.37% Volatility 367% 370% 88% 127% 89% 370% 88% 128% Expected life (years) 5.0 6.2 5.0 6.0 5.0 6.2 5.0 6.0 Dividend yield — — — —
Schedule of Stock Option activity	A summary of stock option activity under the Plan is presented below: Schedule of Stock Option activity
STOCKHOLDERS' EQUITY (DEFICIT) & STOCK-BASED COMPENSATION (Details 2)	Options Outstanding Weighted Shares Average Available Number of Exercise for Grant Shares Prices Balance at March 31, 2021 408,245 3,591,755 $ 1.75 Options granted (182,321 ) 182,321 4.23 Share awards (5,508 ) — — Options cancelled and returned to the Plan 22,639 (22,639 ) 2.87 Balance at June 30, 2021 243,055 3,751,437 1.86 Additional shares authorized under the Plan 4,000,000 — — Options granted (1,189,150 ) 1,189,150 4.05 Share awards (10,906 ) — — Options cancelled and returned to the Plan 147,639 (147,639 ) 2.34 Balance at September 30, 2021 3,190,638 4,792,948 2.39
Schedule of Outstanding and Exercisable Option, Range	The following table summarizes the range of outstanding and exercisable options as of September 30, 2021: Schedule of Outstanding and Exercisable Option, Range
STOCKHOLDERS' EQUITY (DEFICIT) & STOCK-BASED COMPENSATION (Details 3)	Options Outstanding Options Exercisable Range of Exercise Price Number Weighted Weighted Number Weighted Aggregate $ 0.66 5.90 4,792,948 8.09 $ 2.39 2,609,002 $ 1.54 $ 4,022,239

THE COMPANY AND SUMMARY OF SI_3

THE COMPANY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative)	6 Months Ended
	Sep. 30, 2021Numbershares	Sep. 30, 2020shares
Number of Operating Segments | Number	1
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | shares	4,972,948	3,480,088
Minimum [Member]
Property, Plant and Equipment, Useful Life	3 years
Maximum [Member]
Property, Plant and Equipment, Useful Life	5 years

LEASES (Details)

LEASES (Details)	Sep. 30, 2021USD ($)
Leases [Abstract]
2022	$ 76,716
2023	158,028
2024	40,692
Imputed interest	(26,613)
Present value of lease liabilities	$ 248,823

LEASES (Details Narrative)

LEASES (Details Narrative)	1 Months Ended	3 Months Ended		6 Months Ended
	Apr. 30, 2020USD ($)	Sep. 30, 2021USD ($)	Sep. 30, 2020USD ($)	Sep. 30, 2021USD ($)	Sep. 30, 2020USD ($)	Jun. 30, 2020USD ($)	Apr. 02, 2020
Leases [Abstract]
Lessee, Operating Lease, Term of Contract							39 months
Monthly Rent	$ 12,400	$ 26,884	$ 26,844	$ 53,768	$ 53,768
Operating Lease Annual Rent Increase Percentage							0.03
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability				270,950
Lease Incentive Received						$ 139,000
Cash paid for amounts included in the measurement of lease liabilities		$ 76,716		$ 76,716

PPP NOTE (Details Narrative)

PPP NOTE (Details Narrative) - USD ($)	Sep. 30, 2021	Mar. 31, 2021	Apr. 24, 2020
Ppp Note
Unsecured Debt, Current		$ 368,780	$ 368,780

CONVERTIBLE PROMISSORY NOTES (D

CONVERTIBLE PROMISSORY NOTES (Details Narrative) - USD ($)	3 Months Ended		6 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	May 31, 2021
Short-term Debt [Line Items]
Gain (Loss) on Extinguishment of Debt			$ 1,321,450
Amortization of Debt Issuance Costs			$ 70,647
Volatility Risk			88.98%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate			0.86%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term			5 years 9 months
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate	0.00%	0.00%	0.00%	0.00%
Notes and Accured Interest could be converted into Common Stock	2,303,348		2,303,348
Convertible Notes Payable [Member]
Short-term Debt [Line Items]
Convertible Notes Payable					$ 4,250,000

STOCKHOLDERS' EQUITY (DEFICIT)

STOCKHOLDERS' EQUITY (DEFICIT) & STOCK-BASED COMPENSATION (Details)	3 Months Ended		6 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Risk-free interest rates			0.86%
Expected life (years)			5 years 9 months
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate	0.00%	0.00%	0.00%	0.00%
Minimum [Member]
Risk-free interest rates	0.80%	0.28%	0.80%	0.28%
Volatility	367.00%	88.00%	89.00%	88.00%
Expected life (years)	5 years	5 years	5 years	5 years
Maximum [Member]
Risk-free interest rates	0.98%	0.37%	0.98%	0.37%
Volatility	370.00%	127.00%	370.00%	128.00%
Expected life (years)	6 years 2 months 12 days	6 years	6 years 2 months 12 days	6 years

STOCKHOLDERS' EQUITY (DEFICIT_2

STOCKHOLDERS' EQUITY (DEFICIT) & STOCK-BASED COMPENSATION (Details 2) - Equity Option [Member] - $ / shares	3 Months Ended		6 Months Ended
	Sep. 30, 2021	Jun. 30, 2021	Sep. 30, 2021
Offsetting Assets [Line Items]
Shares Available for Grant, Beginning Balance	243,055	408,245	408,245
Number of Option, Beginning Balance	3,751,437	3,591,755	3,591,755
Weighted Average Exercise Price, Beginning Balance	$ 1.86	$ 1.75	$ 1.75
Shares available for grant, Granted	(1,189,150)	(182,321)
Number of Options, Granted	1,189,150	182,321
Weighted Average Exercise Price, Options Granted	$ 4.05	$ 4.23
Shares available for grant, Awards	(10,906)	(5,508)
Shares available for grant, Cancelled and Returned to the Plan	147,639	22,639
Number of Options, cancelled and returned to the Plan	(147,639)	(22,639)
Weighted Average Exercise Price, Options cancelled and returned to the Plan	$ 2.34	$ 2.87
Shares available for grant, Additional Shares authorized under the Plan	4,000,000
Shares Available for Grant, Ending Balance	3,190,638	243,055	3,190,638
Number of Option, Ending Balance	4,792,948	3,751,437	4,792,948
Weighted Average Exercise Price, Ending Balance	$ 2.39	$ 1.86	$ 2.39

STOCKHOLDERS' EQUITY (DEFICIT_3

STOCKHOLDERS' EQUITY (DEFICIT) & STOCK-BASED COMPENSATION (Details 3) - Equity Option [Member] - USD ($)	6 Months Ended
	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021
Offsetting Assets [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number	4,792,948	3,751,437	3,591,755
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term	8 years 1 month 2 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price	$ 2.39	$ 1.86	$ 1.75
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number	2,609,002
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Exercise Price	$ 1.54
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value	$ 4,022,239
Minimum [Member]
Offsetting Assets [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Exercise Price	$ 0.66
Maximum [Member]
Offsetting Assets [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Exercise Price	$ 5.90

STOCKHOLDERS_ EQUITY (DEFICIT_3

STOCKHOLDERS’ EQUITY (DEFICIT) & STOCK-BASED COMPENSATION (Details Narrative) - USD ($)	3 Months Ended				6 Months Ended
	Sep. 30, 2021	Jun. 30, 2021	Sep. 30, 2020	Jun. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Aug. 31, 2020	Jan. 31, 2020	Oct. 31, 2017
Accumulated Other Comprehensive Income (Loss) [Line Items]
Common Shares Reserved for Issuance under Equity Incentive Plan							4,000,000	1,000,000	3,000,000
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount	$ 5,988,541				$ 5,988,541
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition					3 years
Shares Issued, Value, Share-based Payment Arrangement, after Forfeiture	$ 862,431	$ 655,920	$ 300,604	$ 344,716	$ 1,518,351	$ 645,320
Equity Option [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross	1,189,150	182,321
Fair Value of Options					5,464,619
Shares Issued, Value, Share-based Payment Arrangement, after Forfeiture					$ 845,979
Employee Stock [Member] | Equity Option [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross					129,117
Common Stock [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Stock Issued During Period, Shares, New Issues				729,897	60,000
Shares Issued, Shares, Share-based Payment Arrangement, after Forfeiture	10,906	5,508			16,414
Shares Issued, Value, Share-based Payment Arrangement, after Forfeiture	$ 11	$ 6
Common Stock [Member] | Employee Stock [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross					1,371,471

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($)	3 Months Ended		6 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	May 31, 2021
Related Party Transaction [Line Items]
Interest Expense	$ 685,793		$ 1,194,670
C E O And Investor [Member]
Related Party Transaction [Line Items]
Notes Cancelled	1,100,000		1,100,000
Interest Payable	$ 50,091		$ 50,091
C E O And Investor [Member] | Notes Payable Other Payables 1 [Member]
Related Party Transaction [Line Items]
Interest Payable	51,640		51,640
Notes Payable	1,026,630		1,026,630
Interest Expense	31,105	3,100	5,160	51,600
C E O And Investor [Member] | Notes Payable Other Payables 2 [Member]
Related Party Transaction [Line Items]
Interest Payable	5,164		5,164
Notes Payable	102,663		102,663
Interest Expense	4,000	$ 4,000	10,060	$ 10,060
Member Of Board [Member]
Related Party Transaction [Line Items]
Interest Payable	$ 10,060		$ 10,060
Notes Payable					$ 200,000

SUBSEQUENT EVENTS (Details Narr

SUBSEQUENT EVENTS (Details Narrative) - USD ($)	Oct. 28, 2021	Jun. 30, 2020	Sep. 30, 2021	Nov. 09, 2021
Subsequent Event [Line Items]
Stock Issued During Period, Value, New Issues		$ 1,118,634
Common Stock [Member]
Subsequent Event [Line Items]
Stock Issued During Period, Shares, New Issues		729,897	60,000
Stock Issued During Period, Value, New Issues		$ 730
Subsequent Event [Member]
Subsequent Event [Line Items]
Stock Issued During Period, Value, New Issues	$ 250,000
Subsequent Event [Member] | Revolving Credit Facility [Member] | Manchester Explorer L P [Member]
Subsequent Event [Line Items]
Long-term Line of Credit	$ 3,000,000
Initial Drawing from Bridge Note				$ 500,000
Subsequent Event [Member] | Common Stock [Member]
Subsequent Event [Line Items]
Stock Issued During Period, Shares, New Issues	92,592