Modular Medical (MODD) 10-Q 14 Nov 22 2023 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Sep. 30, 2022	Nov. 14, 2022
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Sep. 30, 2022
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2023
Current Fiscal Year End Date	--03-31
Entity File Number	001-41277
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
Title of 12(b) Security	Common Stock, par value $0.001 per share
Trading Symbol	MODD
Security Exchange Name	NASDAQ
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		10,925,723

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($)	Sep. 30, 2022	Mar. 31, 2022
CURRENT ASSETS
Cash and cash equivalents	$ 10,840,597	$ 9,076,372
Prepaid expenses and other	164,566	313,422
TOTAL CURRENT ASSETS	11,005,163	9,389,794
Property and equipment, net	257,053	235,959
Right of use asset, net	75,421	120,693
Security deposit	100,000	100,000
TOTAL NON-CURRENT ASSETS	432,474	456,652
TOTAL ASSETS	11,437,637	9,846,446
CURRENT LIABILITIES
Accounts payable	244,626	299,951
Accrued expenses	336,119	524,891
Short-term lease liability	114,368	144,857
TOTAL CURRENT LIABILITIES	695,113	969,699
LONG-TERM LIABILITIES’
Long-term lease liability		39,957
TOTAL LIABILITIES	695,113	1,009,656
STOCKHOLDERS’ EQUITY
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; 10,925,723 and 10,461,898 shares issued and outstanding as of September 30, 2022 and March 31, 2022, respectively	10,926	10,462
Additional paid-in capital	52,260,567	43,406,099
Accumulated deficit	(41,528,969)	(34,579,771)
TOTAL STOCKHOLDERS’ EQUITY	10,742,524	8,836,790
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$ 11,437,637	$ 9,846,446

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Sep. 30, 2022	Mar. 31, 2022
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	10,925,723	10,461,898
Common Stock, Shares, Outstanding	10,925,723	10,461,898

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Operating expenses
Research and development	$ 2,385,539	$ 2,105,380	$ 4,607,523	$ 3,893,511
General and administrative	1,063,572	1,589,032	2,340,678	3,174,489
Total operating expenses	3,449,111	3,694,412	6,948,201	7,068,000
Loss from operations	(3,449,111)	(3,694,412)	(6,948,201)	(7,068,000)
Other income	304	48	603	368,872
Interest expense		(685,793)		(1,194,670)
Loss on debt extinguishment				(1,321,450)
Loss before income taxes	(3,448,807)	(4,380,157)	(6,947,598)	(9,215,248)
Provision for income taxes	1,600	1,600	1,600	1,600
Net loss	$ (3,450,407)	$ (4,381,757)	$ (6,949,198)	$ (9,216,848)
Net loss per share
Basic and diluted	$ (0.32)	$ (0.69)	$ (0.64)	$ (1.46)
Shares used in computing net loss per share
Basic and diluted	10,914,953	6,323,925	10,830,974	6,320,916

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($)	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Total
Beginning balance, value at Mar. 31, 2021	$ 6,302	$ 14,665,559	$ (15,947,010)	$ (1,275,149)
Shares, Outstanding, Beginning Balance at Mar. 31, 2021	6,302,050
Shares issued for service	$ 20	172,180		172,200
Stock Issued During Period, Shares, Issued for Services	20,000
Issuance of common stock under equity incentive plan	$ 2	32,495		32,497
Issuance of common stock under equity incentive plan, in shares	1,836
Stock-based compensation		623,423		623,423
Net loss			(4,835,091)	(4,835,091)
Warrants issued with convertible notes		3,700,632		3,700,632
Ending balance, value at Jun. 30, 2021	$ 6,324	19,194,289	(20,782,101)	(1,581,488)
Shares, Outstanding, Ending Balance at Jun. 30, 2021	6,323,886
Beginning balance, value at Mar. 31, 2021	$ 6,302	14,665,559	(15,947,010)	(1,275,149)
Shares, Outstanding, Beginning Balance at Mar. 31, 2021	6,302,050
Issuance of common stock and warrants in equity offering, net
Net loss				(9,216,848)
Warrants issued with convertible notes				3,700,632
Ending balance, value at Sep. 30, 2021	$ 6,328	20,056,716	(25,163,858)	(5,100,814)
Shares, Outstanding, Ending Balance at Sep. 30, 2021	6,327,521
Beginning balance, value at Jun. 30, 2021	$ 6,324	19,194,289	(20,782,101)	(1,581,488)
Shares, Outstanding, Beginning Balance at Jun. 30, 2021	6,323,886
Shares issued for service				$ 172,200
Stock Issued During Period, Shares, Issued for Services				20,000
Net loss			(4,381,757)	$ (4,381,757)
Ending balance, value at Sep. 30, 2021	$ 6,328	20,056,716	(25,163,858)	(5,100,814)
Shares, Outstanding, Ending Balance at Sep. 30, 2021	6,327,521
Beginning balance, value at Mar. 31, 2022	$ 10,462	43,406,099	(34,579,771)	8,836,790
Shares, Outstanding, Beginning Balance at Mar. 31, 2022	10,461,898
Shares issued for service		1,576		1,576
Stock Issued During Period, Shares, Issued for Services	348
Issuance of common stock and warrants in equity offering, net	$ 449	7,371,898		7,372,347
Issuance of common stock and warrants in equity offering, net in shares	449,438
Issuance of common stock under equity incentive plan	$ 3	13,747		13,750
Issuance of common stock under equity incentive plan, in shares	2,664
Stock-based compensation		724,819		724,819
Net loss			(3,498,791)	(3,498,791)
Ending balance, value at Jun. 30, 2022	$ 10,914	51,518,139	(38,078,562)	13,450,491
Shares, Outstanding, Ending Balance at Jun. 30, 2022	10,914,348
Beginning balance, value at Mar. 31, 2022	$ 10,462	43,406,099	(34,579,771)	8,836,790
Shares, Outstanding, Beginning Balance at Mar. 31, 2022	10,461,898
Issuance of common stock and warrants in equity offering, net				7,372,347
Net loss				(6,949,198)
Warrants issued with convertible notes
Ending balance, value at Sep. 30, 2022	$ 10,926	52,260,567	(41,528,969)	10,742,524
Shares, Outstanding, Ending Balance at Sep. 30, 2022	10,925,723
Beginning balance, value at Jun. 30, 2022	$ 10,914	51,518,139	(38,078,562)	13,450,491
Shares, Outstanding, Beginning Balance at Jun. 30, 2022	10,914,348
Shares issued for service				$ 1,576
Stock Issued During Period, Shares, Issued for Services				348
Issuance of common stock under equity incentive plan	$ 12	50,368		$ 50,380
Issuance of common stock under equity incentive plan, in shares	11,375
Stock-based compensation		692,060		692,060
Net loss			(3,450,407)	(3,450,407)
Ending balance, value at Sep. 30, 2022	$ 10,926	$ 52,260,567	$ (41,528,969)	$ 10,742,524
Shares, Outstanding, Ending Balance at Sep. 30, 2022	10,925,723

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Cash Flows from operating activities
Net loss	$ (6,949,198)	$ (9,216,848)
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	1,481,009	1,518,351
Depreciation and amortization	60,180	53,599
Shares for services	100,800	314,265
Amortization of lease right-of-use asset	45,272	38,085
Change in lease liability	(70,446)	(61,032)
Amortization of debt discount		824,439
Changes in assets and liabilities:
Other assets and prepaid expenses	49,632	(7,941)
Accounts payable and accrued expenses	(244,097)	799,687
Net cash used in operating activities	(5,526,848)	(4,784,725)
CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of property and equipment	(81,274)	(22,779)
Net cash used in investing activities	(81,274)	(22,779)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from issuance of common stock and warrants, net	7,372,347
Proceeds from issuance of convertible notes, net		4,137,200
Net cash provided by financing activities	7,372,347	4,137,200
Net increase in cash and cash equivalents	1,764,225	(670,304)
Cash and cash equivalents at beginning of period	9,076,372	1,468,465
Cash and cash equivalents at end of period	10,840,597	798,161
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, 2022
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 eventual commercialization of an innovative insulin pump to address shortcomings and problems represented by the relatively limited adoption of currently available pumps for insulin-dependent people with diabetes. The Company has developed a hardware technology allowing people with insulin-dependent diabetes to receive their daily insulin in two ways, through a continuous “basal” delivery allowing a small amount of insulin to be in the blood at all times and a “bolus” delivery to address meal time glucose input and to address when the blood glucose level becomes excessively high. By addressing the time and effort required to effectively treat their condition, the Company believes it can address the less technically savvy, less motivated part of the market. In February 2022, the Company completed a public offering of its equity securities, and its common stock was approved to list on the Nasdaq Capital Market under the symbol “MODD” and began trading there on February 10, 2022. 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 revenue to achieve profitability. The Company’s expected operating losses and cash burn 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. The Company’s operating needs include the planned costs to operate its business, 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 2023 refers to the fiscal year ending March 31, 2023). 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 are unaudited and have been prepared in accordance with generally accepted accounting principles in the United States (GAAP) and with the rules and regulations of the United States Security and Exchange Commission (SEC) regarding interim financial reporting. The condensed consolidated balance sheet as of March 31, 2022 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 GAAP have been condensed or omitted in accordance with these rules and regulations of the 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, 2022 are not necessarily indicative of the results that may be expected for the year ending March 31, 2023 or for any other future period. Reverse Stock Split On November 24, 2021, the Company filed a certificate of amendment to its amended and restated certificate of incorporation with the Secretary of State of the State of Nevada to effect a 1-for-3 reverse stock split of the Company’s shares of common stock. Use of Estimates The preparation of the accompanying condensed 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 condensed 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 business segment and uses one measurement of profitability for its business. 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 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 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 all highly liquid debt instruments with original maturities of three months or less. Property and Equipment Property and equipment are recorded at historical cost. Depreciation is computed using the straight-line method over the estimated useful lives of the assets, generally three to five years. Depreciation is recorded in operating expenses in the consolidated statements of operations. Leasehold improvements and assets acquired through capital leases are amortized over the shorter of their estimated useful life or the lease term, and amortization is recorded in operating expenses in the consolidated statements of operations. 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. Right-of-Use Asset The Company’s right-of-use assets consist of leased assets recognized in accordance with FASB Accounting Standards Codification (ASC) No. 842, Leases which requires lessees to recognize a lease liability and a corresponding lease asset for virtually all lease contracts. Right-of-use assets represent the Company’s right to use an underlying asset for the lease term and the lease liability represents the Company’s obligation to make lease payments arising from the lease, both of which are recognized based on the present value of the future minimum lease payments over the lease term at the commencement date. Leases with a lease term of 12 months or less at inception are not recorded on the condensed consolidated balance sheets and are expensed on a straight-line basis over the lease term in the condensed consolidated statement of operations and comprehensive loss. The Company determines the lease term by agreement with lessor. In cases where the lease does not provide an implicit interest rate, the Company uses the Company’s incremental borrowing rate based on the information available at commencement date in determining the present value of future payments. Stock-Based Compensation The Company recognizes stock-based compensation for stock options granted to employees and non-employees on a straight-line basis over the requisite service period, usually the vesting period, based on the grant-date fair value. The Company estimates the value of stock options on the date of grant using the Black-Scholes pricing model. The determination of fair value of share-based payment awards on the date of grant using an option-pricing model is affected by the option price, as well as assumptions regarding a number of highly complex and subjective variables. These variables include, but are not limited to, the expected stock price volatility over the term of the awards, and projected stock option exercise behaviors. 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. Potentially dilutive common shares consist of incremental shares of common stock issuable upon the exercise of stock options and exercise of warrants. For the six months ended September 30, 2022 and 2021, the following table sets forth securities outstanding which were excluded from the computation of diluted net loss per share as their inclusion would be anti-dilutive. Schedule of Anti-Dilutive Shares Six Months Ended 2022 2021 Options to purchase common stock 2,030,250 4,972,948 Common stock warrants 7,565,588 — Total 9,595,838 4,972,948 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, 2022 and 2021, the Company’s comprehensive loss was the same as its net loss. Recently Issued Accounting Pronouncement In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments—Credit Losses

LEASES

LEASES	6 Months Ended
	Sep. 30, 2022
Leases [Abstract]
LEASES	NOTE 2 – LEASES The Company accounts for the lease of its corporate facility in San Diego, California in accordance with ASC No. 842. The 39-month lease term commenced April 1, 2020, and the lease provides for an initial monthly rent of approximately $12,400 with annual rent increases of approximately 3%. The Company obtained a right-of-use asset of $270,950 in exchange for its obligations under the operating lease. The landlord also provided a lease incentive of approximately $139,000, which was paid to the Company in June 2020, for the Company to make improvements to the leased space. In addition, the Company paid a $100,000 security deposit. Future minimum payments under the facility operating lease, as of September 30, 2022, are listed in the table below. Schedule of Future minimum Lease Payment Annual Fiscal Years Operating 2023 74,411 2024 40,692 Less: Imputed interest (735 ) Present value of lease liabilities $ 114,368 Cash paid for amounts included in the measurement of lease liabilities was $ 79,014 53,842 53,768 26,921 26,844

PPP NOTE

PPP NOTE	6 Months Ended
	Sep. 30, 2022
Ppp Note
PPP NOTE	NOTE 3 – PPP NOTE On April 24, 2020, the Company received a $ 368,780 In May 2021, the Lender and the U.S. Small Business Administration notified the Company 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 ASC Topic 470: Debt

CONVERTIBLE PROMISSORY NOTES

CONVERTIBLE PROMISSORY NOTES	6 Months Ended
	Sep. 30, 2022
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 Note 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 $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 Notes and 2021 Warrants (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 In connection with the issuance of the Notes, the Company issued the 2021 Warrants to purchase in the aggregate 767,796 shares of its common stock at an initial exercise price of $24.00 per share. The fair value of the 2021 Warrants was $3,700,632, of which $2,379,182 was recorded as a debt discount and amortized to interest expense, 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 Upon the closing of a public offering in February 2022, which was a Qualified Capital Raise, in accordance with their terms, the Notes converted into 1,511,276 shares of common stock and the holders of the Notes received an additional 1,511,276 common stock purchase warrants with an exercise price of $6.60 per share. In addition, as a result of the February 2022 equity offering, the exercise price of the 767,796 outstanding 2021 Warrants was reduced to $6.00 per share.

STOCKHOLDERS_ EQUITY (DEFICIT)

STOCKHOLDERS’ EQUITY (DEFICIT)	6 Months Ended
	Sep. 30, 2022
Equity [Abstract]
STOCKHOLDERS’ EQUITY (DEFICIT)	NOTE 5 – STOCKHOLDERS’ EQUITY (DEFICIT) Placements of Common Stock and Warrants On May 2, 2022, the Company entered into a securities purchase agreement (the Purchase Agreement) with an institutional investor, pursuant to which the Company sold, in a registered direct offering (the Registered Offering), which closed on May 5, 2022, an aggregate of 449,438 shares (the Shares) of the Company’s common stock, par value $0.001 per share, at a purchase price per Share of $4.45 and pre-funded warrants (the Pre-Funded Warrants) to purchase an aggregate of 1,348,314 shares of common stock at a purchase price per Pre-Funded Warrant of $4.44. The Pre-Funded Warrants will be exercisable immediately on the date of issuance at an exercise price of $0.01 per share and may be exercised at any time until all of the Pre-Funded Warrants are exercised in full. In a concurrent private placement under the Purchase Agreement, the Company issued to the Investor warrants (the Private Placement Warrants) to purchase an aggregate of 1,438,202 shares of common stock at an exercise price of $6.60 per share. The Private Placement Warrants will be exercisable beginning on the six-month anniversary of the date of issuance (the Initial Exercise Date) and will expire on the five-year anniversary of the Initial Exercise Date. Warrants As of September 30, 2022, the Company had the following warrants outstanding: Schedule of Warrant Outstanding Type Number of Exercise Expiration Common stock 1,348,314 $ 0.01 — Common stock 767,796 $ 6.00 April 2027 - May 2027 Common stock 4,011,276 $ 6.60 February 2027 Common stock 1,438,202 $ 6.60 November 2027 Total 7,565,588 Other During the six months ended September 30, 2022 and 2021, the Company issued 348 20,000 1,576 172,200

STOCK-BASED COMPENSATION

STOCK-BASED COMPENSATION	6 Months Ended
	Sep. 30, 2022
Equity [Abstract]
STOCK-BASED COMPENSATION	NOTE 6 – STOCK-BASED COMPENSATION Amended 2017 Equity Incentive Plan In October 2017, the Board approved the 2017 Equity Incentive Plan (the Plan), as amended, with 1,000,000 333,334 1,333,334 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. As of September 30, 2022, the unamortized compensation cost was $ 3,847,696 During the six months ended September 30, 2022, the Company granted 14,039 shares to members of the Board in accordance with the compensation plan for non-employee directors. During the six months ended September 30, 2022, the Company granted options with 10-year terms to purchase 506,657 shares of its common stock to employees, directors and consultants. During the six months ended September 30, 2022, the fair value of awards granted was $ 2,174,367 1,481,009 The following assumptions were used in the fair value calculations: Three Months Ended September 30, Six Months Ended September 30, 2022 2021 2022 2021 Risk-free interest rates 3.00% 4.06% 0.8% 0.98% 2.82% 4.06% 0.8% 0.98% Volatility 156% 159% 367% 370% 156% 223% 89% 366% Expected life (years) 5.0 5.7 5.0 6.2 5.0 5.7 5.0 6.0 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. 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. The Company accounts for forfeitures as they occur. A summary of stock option activity under the EIP 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, 2022 989,466 1,650,705 $ 6.58 Options granted (265,634 ) 265,634 4.35 Share awards (2,664 ) — — Options cancelled and returned to the Plan 96,668 (96,668 ) 7.69 Balance at June 30, 2022 817,836 1,819,671 6.19 Options granted (241,023 ) 241,023 4.35 Share awards (11,375 ) — — Options cancelled and returned to the Plan 30,444 (30,444 ) 4.67 Balance at September 30, 2022 595,882 2,030,250 $ 6.00 There were no stock options exercised during the six months ended September 30, 2022 and 2021. The following table summarizes the range of outstanding and exercisable options as of September 30, 2022: Schedule of Outstanding and Exercisable Option, Range Options Outstanding Options Exercisable Range of Exercise Price Number Weighted Weighted Number Weighted Aggregate $ 3.95 17.70 2,030,250 8.02 $ 6.00 1,228,447 $ 5.65 $ 952,473 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. 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, 2022 and 2021, there were no such tax benefits associated with the exercise of stock options, as no stock options were exercised.

INCOME TAXES

INCOME TAXES	6 Months Ended
	Sep. 30, 2022
Income Tax Disclosure [Abstract]
INCOME TAXES	NOTE 7 – 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 2022 may be subject to examination by the U.S. federal and state tax authorities. As of September 30, 2022, the Company has not recorded any liability for unrecognized tax benefits related to uncertain tax positions.

COMMITMENTS & CONTINGENCIES

COMMITMENTS & CONTINGENCIES	6 Months Ended
	Sep. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS & CONTINGENCIES	NOTE 8 – COMMITMENTS & 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, 2022 and 2021 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.

THE COMPANY AND SUMMARY OF SI_2

THE COMPANY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
	Sep. 30, 2022
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 revenue to achieve profitability. The Company’s expected operating losses and cash burn 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. The Company’s operating needs include the planned costs to operate its business, 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 2023 refers to the fiscal year ending March 31, 2023). 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 are unaudited and have been prepared in accordance with generally accepted accounting principles in the United States (GAAP) and with the rules and regulations of the United States Security and Exchange Commission (SEC) regarding interim financial reporting. The condensed consolidated balance sheet as of March 31, 2022 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 GAAP have been condensed or omitted in accordance with these rules and regulations of the 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, 2022 are not necessarily indicative of the results that may be expected for the year ending March 31, 2023 or for any other future period.
Reverse Stock Split	Reverse Stock Split On November 24, 2021, the Company filed a certificate of amendment to its amended and restated certificate of incorporation with the Secretary of State of the State of Nevada to effect a 1-for-3 reverse stock split of the Company’s shares of common stock.
Use of Estimates	Use of Estimates The preparation of the accompanying condensed 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 condensed 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 business segment and uses one measurement of profitability for its business.
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 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 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 all highly liquid debt instruments with original maturities of three months or less.
Property and Equipment	Property and Equipment Property and equipment are recorded at historical cost. Depreciation is computed using the straight-line method over the estimated useful lives of the assets, generally three to five years. Depreciation is recorded in operating expenses in the consolidated statements of operations. Leasehold improvements and assets acquired through capital leases are amortized over the shorter of their estimated useful life or the lease term, and amortization is recorded in operating expenses in the consolidated statements of operations.
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.
Right-of-Use Asset	Right-of-Use Asset The Company’s right-of-use assets consist of leased assets recognized in accordance with FASB Accounting Standards Codification (ASC) No. 842, Leases which requires lessees to recognize a lease liability and a corresponding lease asset for virtually all lease contracts. Right-of-use assets represent the Company’s right to use an underlying asset for the lease term and the lease liability represents the Company’s obligation to make lease payments arising from the lease, both of which are recognized based on the present value of the future minimum lease payments over the lease term at the commencement date. Leases with a lease term of 12 months or less at inception are not recorded on the condensed consolidated balance sheets and are expensed on a straight-line basis over the lease term in the condensed consolidated statement of operations and comprehensive loss. The Company determines the lease term by agreement with lessor. In cases where the lease does not provide an implicit interest rate, the Company uses the Company’s incremental borrowing rate based on the information available at commencement date in determining the present value of future payments.
Stock-Based Compensation	Stock-Based Compensation The Company recognizes stock-based compensation for stock options granted to employees and non-employees on a straight-line basis over the requisite service period, usually the vesting period, based on the grant-date fair value. The Company estimates the value of stock options on the date of grant using the Black-Scholes pricing model. The determination of fair value of share-based payment awards on the date of grant using an option-pricing model is affected by the option price, as well as assumptions regarding a number of highly complex and subjective variables. These variables include, but are not limited to, the expected stock price volatility over the term of the awards, and projected stock option exercise behaviors.
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. Potentially dilutive common shares consist of incremental shares of common stock issuable upon the exercise of stock options and exercise of warrants. For the six months ended September 30, 2022 and 2021, the following table sets forth securities outstanding which were excluded from the computation of diluted net loss per share as their inclusion would be anti-dilutive. Schedule of Anti-Dilutive Shares Six Months Ended 2022 2021 Options to purchase common stock 2,030,250 4,972,948 Common stock warrants 7,565,588 — Total 9,595,838 4,972,948
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, 2022 and 2021, the Company’s comprehensive loss was the same as its net loss.
Recently Issued Accounting Pronouncement	Recently Issued Accounting Pronouncement In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments—Credit Losses

THE COMPANY AND SUMMARY OF SI_3

THE COMPANY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	6 Months Ended
	Sep. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Anti-Dilutive Shares	For the six months ended September 30, 2022 and 2021, the following table sets forth securities outstanding which were excluded from the computation of diluted net loss per share as their inclusion would be anti-dilutive. Schedule of Anti-Dilutive Shares
THE COMPANY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	Six Months Ended 2022 2021 Options to purchase common stock 2,030,250 4,972,948 Common stock warrants 7,565,588 — Total 9,595,838 4,972,948

LEASES (Tables)

LEASES (Tables)	6 Months Ended
	Sep. 30, 2022
Leases [Abstract]
Schedule of Future minimum Lease Payment	Future minimum payments under the facility operating lease, as of September 30, 2022, are listed in the table below. Schedule of Future minimum Lease Payment
LEASES	Annual Fiscal Years Operating 2023 74,411 2024 40,692 Less: Imputed interest (735 ) Present value of lease liabilities $ 114,368

STOCKHOLDERS_ EQUITY (DEFICIT)

STOCKHOLDERS’ EQUITY (DEFICIT) (Tables)	6 Months Ended
	Sep. 30, 2022
Equity [Abstract]
Schedule of Warrant Outstanding	As of September 30, 2022, the Company had the following warrants outstanding: Schedule of Warrant Outstanding
STOCKHOLDERS' EQUITY (DEFICIT)	Type Number of Exercise Expiration Common stock 1,348,314 $ 0.01 — Common stock 767,796 $ 6.00 April 2027 - May 2027 Common stock 4,011,276 $ 6.60 February 2027 Common stock 1,438,202 $ 6.60 November 2027 Total 7,565,588

STOCK-BASED COMPENSATION (Table

STOCK-BASED COMPENSATION (Tables)	6 Months Ended
	Sep. 30, 2022
Equity [Abstract]
STOCK-BASED COMPENSATION	Three Months Ended September 30, Six Months Ended September 30, 2022 2021 2022 2021 Risk-free interest rates 3.00% 4.06% 0.8% 0.98% 2.82% 4.06% 0.8% 0.98% Volatility 156% 159% 367% 370% 156% 223% 89% 366% Expected life (years) 5.0 5.7 5.0 6.2 5.0 5.7 5.0 6.0
Schedule of Stock Option activity	A summary of stock option activity under the EIP is presented below: Schedule of Stock Option activity
STOCK-BASED COMPENSATION (Details 2)	Options Outstanding Weighted Shares Average Available Number of Exercise for Grant Shares Prices Balance at March 31, 2022 989,466 1,650,705 $ 6.58 Options granted (265,634 ) 265,634 4.35 Share awards (2,664 ) — — Options cancelled and returned to the Plan 96,668 (96,668 ) 7.69 Balance at June 30, 2022 817,836 1,819,671 6.19 Options granted (241,023 ) 241,023 4.35 Share awards (11,375 ) — — Options cancelled and returned to the Plan 30,444 (30,444 ) 4.67 Balance at September 30, 2022 595,882 2,030,250 $ 6.00
Schedule of Outstanding and Exercisable Option, Range	The following table summarizes the range of outstanding and exercisable options as of September 30, 2022: Schedule of Outstanding and Exercisable Option, Range
STOCK-BASED COMPENSATION (Details 3)	Options Outstanding Options Exercisable Range of Exercise Price Number Weighted Weighted Number Weighted Aggregate $ 3.95 17.70 2,030,250 8.02 $ 6.00 1,228,447 $ 5.65 $ 952,473

THE COMPANY AND SUMMARY OF SI_4

THE COMPANY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) - shares	6 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Options to purchase common stock	2,030,250	4,972,948
Common stock warrants	7,565,588
Total	9,595,838	4,972,948

THE COMPANY AND SUMMARY OF SI_5

THE COMPANY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative)	Nov. 24, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Stockholders' Equity, Reverse Stock Split	On November 24, 2021, the Company filed a certificate of amendment to its amended and restated certificate of incorporation with the Secretary of State of the State of Nevada to effect a 1-for-3 reverse stock split of the Company’s shares of common stock.

LEASES (Details)

LEASES (Details)	Sep. 30, 2022 USD ($)
Leases [Abstract]
2023	$ 74,411
2024	40,692
Imputed interest	(735)
Present value of lease liabilities	$ 114,368

LEASES (Details Narrative)

LEASES (Details Narrative) - USD ($)	3 Months Ended		6 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Leases [Abstract]
Cash Paid for Lease Liabilities	$ 79,014		$ 79,014
Operating Leases, Rent Expense	$ 26,921	$ 26,844	$ 53,842	$ 53,768

PPP NOTE (Details Narrative)

PPP NOTE (Details Narrative)	Apr. 24, 2020 USD ($)
Ppp Note
Unsecured Debt, Current	$ 368,780

CONVERTIBLE PROMISSORY NOTES (D

CONVERTIBLE PROMISSORY NOTES (Details Narrative) - USD ($)	1 Months Ended	3 Months Ended		6 Months Ended
	Apr. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	May 31, 2021
Short-Term Debt [Line Items]
Gain (Loss) on Extinguishment of Debt	$ 1,321,450				$ 1,321,450
Amortization of Debt Issuance Costs	$ 70,647
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Weighted Average Volatility Rate				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%
Convertible Notes Payable [Member]
Short-Term Debt [Line Items]
Convertible Notes Payable						$ 4,250,000

STOCKHOLDERS' EQUITY (DEFICIT)

STOCKHOLDERS' EQUITY (DEFICIT) (Details) - $ / shares	Sep. 30, 2022	Sep. 30, 2021
Accumulated Other Comprehensive Income (Loss) [Line Items]
Class of Warrant or Right, Outstanding	7,565,588
Warrant 1 [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Class of Warrant or Right, Outstanding	1,348,314
Share-Based Payment Arrangement, Option, Exercise Price Range, Outstanding, Weighted Average Exercise Price	$ 0.01
Warrant 2 [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Class of Warrant or Right, Outstanding	767,796
Share-Based Payment Arrangement, Option, Exercise Price Range, Outstanding, Weighted Average Exercise Price	$ 6
Warrant 3 [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Class of Warrant or Right, Outstanding	4,011,276
Share-Based Payment Arrangement, Option, Exercise Price Range, Outstanding, Weighted Average Exercise Price	$ 6.60
Warrant 4 [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Class of Warrant or Right, Outstanding	1,438,202
Share-Based Payment Arrangement, Option, Exercise Price Range, Outstanding, Weighted Average Exercise Price	$ 6.60

STOCKHOLDERS_ EQUITY (DEFICIT_2

STOCKHOLDERS’ EQUITY (DEFICIT) (Details Narrative) - USD ($)	3 Months Ended
	Sep. 30, 2022	Jun. 30, 2022	Sep. 30, 2021	Jun. 30, 2021
Equity [Abstract]
Stock Issued During Period, Shares, Issued for Services	348		20,000
Stock Issued During Period, Value, Issued for Services	$ 1,576	$ 1,576	$ 172,200	$ 172,200

STOCK-BASED COMPENSATION (Detai

STOCK-BASED COMPENSATION (Details)	3 Months Ended		6 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
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
Minimum [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Risk Free Interest Rate	3%	0.80%	2.82%	0.80%
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Volatility Rate	156%	367%	156%	89%
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Term	5 years	5 years	5 years	5 years
Maximum [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Risk Free Interest Rate	4.06%	0.98%	4.06%	0.98%
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Volatility Rate	159%	370%	223%	366%
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Term	5 years 8 months 12 days	6 years 2 months 12 days	5 years 8 months 12 days	6 years

STOCK-BASED COMPENSATION (Det_2

STOCK-BASED COMPENSATION (Details 2) - $ / shares	3 Months Ended
	Sep. 30, 2022	Jun. 30, 2022
Offsetting Assets [Line Items]
Options to purchase common stock	2,030,250
Equity Option [Member]
Offsetting Assets [Line Items]
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Available for Grant	817,836	989,466
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Number, Beginning Balance	1,819,671	1,650,705
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Weighted Average Exercise Price, Beginning Balance	$ 6.19	$ 6.58
Granted	(241,023)	(265,634)
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross	241,023	265,634
Share-Based Compensation Arrangements by Share-Based Payment Award, Options, Grants in Period, Weighted Average Exercise Price	$ 4.35	$ 4.35
[custom:ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesGrantedAwards]	(11,375)	(2,664)
[custom:ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesCancelledAvailableForGrant]	30,444	96,668
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Forfeitures and Expirations in Period	(30,444)	(96,668)
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Forfeitures and Expirations in Period, Weighted Average Exercise Price	$ 4.67	$ 7.69
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Available for Grant	595,882	817,836
Options to purchase common stock	2,030,250	1,819,671
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Weighted Average Exercise Price, Ending Balance	$ 6	$ 6.19

STOCK-BASED COMPENSATION (Det_3

STOCK-BASED COMPENSATION (Details 3) - USD ($)	3 Months Ended
	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2021
Offsetting Assets [Line Items]
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Number	2,030,250			4,972,948
Equity Option [Member]
Offsetting Assets [Line Items]
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Number	2,030,250	1,819,671	1,650,705
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term	8 years 7 days
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Weighted Average Exercise Price	$ 6	$ 6.19	$ 6.58
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercisable, Number	1,228,447
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercisable, Weighted Average Exercise Price	$ 5.65
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercisable, Intrinsic Value	$ 952,473
Equity Option [Member] | Minimum [Member]
Offsetting Assets [Line Items]
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Exercise Price	$ 3.95
Equity Option [Member] | Maximum [Member]
Offsetting Assets [Line Items]
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Exercise Price	$ 17.70

STOCK-BASED COMPENSATION (Det_4

STOCK-BASED COMPENSATION (Details Narrative) - USD ($)	3 Months Ended			6 Months Ended
	Sep. 30, 2022	Jun. 30, 2022	Jun. 30, 2021	Sep. 30, 2022	Aug. 31, 2021	Jan. 31, 2020	Oct. 31, 2017
Offsetting Assets [Line Items]
Common Stock, Capital Shares Reserved for Future Issuance					1,333,334	333,334	1,000,000
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount	$ 3,847,696			$ 3,847,696
Shares Issued, Value, Share-Based Payment Arrangement, after Forfeiture	$ 692,060	$ 724,819	$ 623,423
Equity Option [Member]
Offsetting Assets [Line Items]
Fair Value of Options				2,174,367
Shares Issued, Value, Share-Based Payment Arrangement, after Forfeiture				$ 1,481,009