Qualigen Therapeutics (QLGN) 10-KT 31 Mar 21 2020 FY Annual report (with FYE transition) Financial data

Document and Entity Information

Document and Entity Information - USD ($)	9 Months Ended
	Dec. 31, 2020	Mar. 15, 2021	Jun. 30, 2020
Cover [Abstract]
Entity Registrant Name	Qualigen Therapeutics, Inc.
Entity Central Index Key	0001460702
Document Type	10-KT
Document Transition Report	true
Document Period End Date	Dec. 31, 2020
Amendment Flag	false
Current Fiscal Year End Date	--03-31
Entity Well-Known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business Flag	true
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	false
Entity Shell Company	false
Entity Public Float			$ 45,357,020
Entity Common Stock, Shares Outstanding		28,780,714
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2020

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Dec. 31, 2020	Mar. 31, 2020
Current assets
Cash and cash equivalents	$ 23,976,570	$ 153,121
Accounts receivable, net	234,950	417,122
Accounts receivable - related party, net	380,807	290,180
Inventory, net	953,458	660,138
Prepaid expenses and other current assets	2,678,894	98,385
Total current assets	28,224,679	1,618,946
Right-of-use asset	430,795
Property and equipment, net	247,323	1,447,514
Equipment held for lease, net	17,947	64,005
Intangible assets, net	187,694	571,270
Other assets	18,334	18,279
Total Assets	29,126,772	3,720,014
Current liabilities
Accounts payable	500,768	879,264
Accrued expenses and other current liabilities	746,738	1,243,764
Notes payable, current portion	131,766	1,913,255
Deferred revenue, current portion	390,871	105,416
Deferred revenue - related party	95,160	271,206
Due to related party		926,385
Lease liability	254,739
Warrant liabilities	8,310,100
Total current liabilities	10,430,142	5,339,290
Notes payable, net of current portion	6,973	305,805
Lease liability, net of current portion	236,826
Deferred revenue, net of current portion	158,271	2,689
Total liabilities	10,832,212	5,647,784
Stockholders' equity (deficit)
Common stock, post-merger $0.001 par value; 225,000,000 shares authorized; 27,296,061 shares issued and outstanding as of December 31, 2020 and pre-merger $0.01 par value; 40,000,000 shares authorized; 5,602,214 shares issued and outstanding as of March 31, 2020	27,296	56,026
Additional paid-in capital	85,114,755	45,161,599
Accumulated deficit	(66,847,492)	(47,301,126)
Total stockholders' equity (deficit)	18,294,560	(1,927,770)
Total Liabilities and Stockholders' Equity (Deficit)	29,126,772	3,720,014
Series A Preferred Stock [Member]
Stockholders' equity (deficit)
Preferred stock, value		24,129
Series B Preferred Stock [Member]
Stockholders' equity (deficit)
Preferred stock, value		77,077
Series C Preferred Stock [Member]
Stockholders' equity (deficit)
Preferred stock, value		33,007
Series D Preferred Stock [Member]
Stockholders' equity (deficit)
Preferred stock, value		15,083
Series D-1 Preferred Stock [Member]
Stockholders' equity (deficit)
Preferred stock, value		6,435
Series Alpha Preferred Stock [Member]
Stockholders' equity (deficit)
Preferred stock, value	$ 1

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2020	Mar. 31, 2020
Series A Preferred Stock [Member]
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	2,500,000	2,500,000
Preferred stock, shares issued	0	2,412,887
Preferred stock, shares outstanding	0	2,412,887
Series B Preferred Stock [Member]
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	9,000,000	9,000,000
Preferred stock, shares issued	0	7,707,736
Preferred stock, shares outstanding	0	7,707,736
Series C Preferred Stock [Member]
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	5,500,000	5,500,000
Preferred stock, shares issued	0	3,300,715
Preferred stock, shares outstanding	0	3,300,715
Series D Preferred Stock [Member]
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	2,151,816	2,151,816
Preferred stock, shares issued	0	1,508,305
Preferred stock, shares outstanding	0	1,508,305
Series D-1 Preferred Stock [Member]
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	848,184	848,184
Preferred stock, shares issued	0	643,511
Preferred stock, shares outstanding	0	643,511
Series Alpha Preferred Stock [Member]
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	7,000	7,000
Preferred stock, shares issued	180	0
Preferred stock, shares outstanding	180	0
Post Merger Common Stock [Member]
Common stock, par value	$ 0.001
Common stock, shares authorized	225,000,000
Common stock, shares issued	27,296,061
Common stock, shares outstanding	27,296,061
Pre Merger Common Stock [Member]
Common stock, par value		$ 0.01
Common stock, shares authorized		40,000,000
Common stock, shares issued		5,602,214
Common stock, shares outstanding		5,602,214

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($)	9 Months Ended	12 Months Ended
	Dec. 31, 2020	Mar. 31, 2020
REVENUES
Total revenues	$ 2,849,561	$ 5,557,967
EXPENSES
Cost of product sales	915,810	1,489,487
Cost of product sales-related party	1,724,338	2,488,542
General and administrative	7,105,337	1,510,068
Research and development	3,316,099	679,620
Research and development-related party		525,499
Sales and marketing	307,903	367,953
Impairment loss on construction in progress	1,376,000
Total expenses	14,745,487	7,061,169
LOSS FROM OPERATIONS	(11,895,926)	(1,503,202)
OTHER EXPENSE (INCOME), NET
Change in fair value of warrant liabilities	8,310,100
Gain on loan extinguishment	(451,345)
Interest expense, net	48,039	283,095
Other income, net	(256,354)	(2,785)
Total other expense, net	7,650,440	280,310
LOSS BEFORE PROVISION FOR INCOME TAXES	(19,546,366)	(1,783,512)
PROVISION FOR INCOME TAXES		4,000
NET LOSS	$ (19,546,366)	$ (1,787,512)
Net loss per common share, basic and diluted	$ (1.12)	$ (0.32)
Weighted-average number of shares outstanding, basic and diluted	17,431,714	5,602,214
Net Product Sales [Member]
REVENUES
Total revenues	$ 1,209,186	$ 2,070,707
Net Product Sales-Related Party [Member]
REVENUES
Total revenues	1,640,375	3,402,260
Collaborative Research Revenue [Member]
REVENUES
Total revenues		$ 85,000

Consolidated Statements of Chan

Consolidated Statements of Changes in Stockholders' Equity (Deficit) - USD ($)	Series A Convertible Preferred Stock [Member]	Series B Convertible Preferred Stock [Member]	Series C Convertible Preferred Stock [Member]	Series D Convertible Preferred Stock [Member]	Series D-1 Convertible Preferred Stock [Member]	Series Alpha Convertible Preferred Stock [Member]	Common Stock [Member]	Additional Paid-in Capital [Member]	Accumulated Deficit [Member]	Total
Balance at Mar. 31, 2019	$ 24,129	$ 77,077	$ 33,007	$ 15,083	$ 6,435		$ 56,026	$ 45,161,599	$ (47,301,126)	$ (1,927,770)
Balance, shares at Mar. 31, 2019	2,412,887	7,707,736	3,300,715	1,508,305	643,511		5,602,214
Stock-based compensation								7,866		7,866
Net loss									(1,787,512)	(1,787,512)
Balance at Mar. 31, 2020	$ 24,129	$ 77,077	$ 33,007	$ 15,083	$ 6,435		$ 56,026	45,161,599	(47,301,126)	(1,927,770)
Balance, shares at Mar. 31, 2020	2,412,887	7,707,736	3,300,715	1,508,305	643,511		5,602,214
Issuance of Series Alpha preferred shares upon closing of private placement						$ 5		4,009,995		4,010,000
Issuance of Series Alpha preferred shares upon closing of private placement, shares						5,010
Issuance of Series Alpha preferred stock for conversion of notes payable								350,000		350,000
Issuance of Series Alpha preferred stock for conversion of notes payable, shares						350
Issuance of common stock for conversion of preferred stock	$ (24,129)	$ (77,077)	$ (33,007)	$ (15,083)	$ (6,435)	$ (4)	$ 13,046	142,690
Issuance of common stock for conversion of preferred stock, shares	(2,412,887)	(7,707,736)	(3,300,715)	(1,508,305)	(643,511)	(5,180)	13,046,931
Issuance of common stock for conversion of notes payable and accrued interest							$ 1,775	1,582,633		1,584,408
Issuance of common stock for conversion of notes payable and accrued interest, shares							1,775,096
Effect of reverse recapitalization							$ (52,519)	863,405		810,886
Effect of reverse recapitalization, shares							(2,095,826)
Shares and warrants issued to advisor upon closing of private placement							$ 1,217	1,103,891		1,105,108
Shares and warrants issued to advisor upon closing of private placement, shares							1,217,147
Fair value of shares issued to advisor upon closing of private placement								(902,250)		(902,250)
Fair value of warrants issued to advisor upon closing of private placement								(202,858)		(202,858)
Shares and warrants issued pursuant to Securities Purchase Agreements							$ 6,009	29,994,771		30,000,781
Shares and warrants issued pursuant to Securities Purchase Agreements, shares							6,008,660
Commission and offering costs of Securities Purchase Agreements								(1,360,800)		(1,360,800)
Stock issued for professional services							$ 47	239,953		240,000
Stock issued for professional services, shares							46,967
Warrants exercised							$ 1,695	1,330,875		1,332,570
Warrants exercised, shares							1,694,872
Stock-based compensation								2,800,851		2,800,851
Net loss									(19,546,366)	(19,546,366)
Balance at Dec. 31, 2020						$ 1	$ 27,296	$ 85,114,755	$ (66,847,492)	$ 18,294,560
Balance, shares at Dec. 31, 2020						180	27,296,061

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	9 Months Ended	12 Months Ended
	Dec. 31, 2020	Mar. 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (19,546,366)	$ (1,787,512)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:
Depreciation and amortization	88,383	216,602
Amortization of debt issuance costs		20,834
Amortization of right-of-use assets	154,717
Impairment loss on construction in progress	1,376,000
Gain on CARES Act loan extinguishment	451,345
Accounts receivable reserves and allowances	(12,669)	53,247
Inventory reserves	10,060	24,081
Stock-based compensation	2,800,851	7,866
Change in fair value of warrant liabilities	8,310,100
Write off of patents and licenses	374,618	60
Changes in operating assets and liabilities:
Accounts receivable	194,841	(154,092)
Accounts receivable - related party	(90,627)	283,433
Inventory and equipment held for lease	(297,637)	57,917
Prepaid expenses and other assets	(1,531,056)	(15,267)
Accounts payable	(378,496)	482,173
Accrued expenses and other current liabilities	(333,665)	497,642
Due to related party	(926,385)	426,385
Lease liability	(171,545)
Deferred revenue	264,991	(56,038)
Net cash (used in) provided by operating activities	(10,162,935)	57,331
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of property and equipment	(208,464)	(6,974)
Payments for patents and licenses	(6,455)	(187,503)
Cash and cash equivalents acquired in reverse recapitalization	149,825
Net cash used in investing activities	(65,094)	(194,477)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from issuance of Series Alpha preferred shares upon closing of private placement	4,010,000
Net proceeds from warrant exercises	1,332,570
Net proceeds from the issuance of notes payable	1,392,463	331,065
Proceeds from issuance of shares and warrants pursuant to Securities Purchase Agreements	30,000,781
Offering costs of Securities Purchase Agreements	(1,360,800)
Payments on capital lease obligations		(23,516)
Principal payments on notes payable	(1,323,536)	(142,405)
Net cash provided by financing activities	34,051,478	165,144
Net change in cash and cash equivalents	23,823,449	27,998
CASH AND CASH EQUIVALENTS - beginning of year	153,121	125,123
CASH AND CASH EQUIVALENTS - end of year	23,976,570	153,121
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
Cash paid for: Interest	32,692	91,559
Cash paid for: Taxes	4,774	5,276
NONCASH FINANCING AND INVESTING ACTIVITIES:
Issuance of common stock for professional services	240,000
Issuance of common stock for conversion of debt and accrued interest	1,584,408
Issuance of common stock for conversion of preferred stock before closing of reverse recapitalization	$ 148,690
Issuance of preferred stock for conversion of debt	350,000
Fair value of shares issued to advisor upon closing of private placement	$ 902,250
Fair value of warrants issued to advisor upon closing of private placement	202,858
Effect of reverse recapitalization	810,886
Issuance of common stock for conversion of preferred stock after closing of reverse recapitalization	6,000
Initial measurement of operating lease right-of-use assets	663,110
CARES Act loan interest forgiven	2,295
Fair value of shares issued for cashless warrant exercises	101,187
Net transfers to inventory from equipment held for lease	$ 5,743	$ 5,439

Organization and Summary of Sig

Organization and Summary of Significant Accounting Policies and Estimates	9 Months Ended
	Dec. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Summary of Significant Accounting Policies and Estimates	NOTE 1 — ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND ESTIMATES Organization Qualigen, Inc., now a subsidiary of Qualigen Therapeutics, Inc., was incorporated in Minnesota in 1996 to design, develop, manufacture and sell point-of-care quantitative immunoassay diagnostic products for use in physician offices and other point-of-care settings worldwide, and was reincorporated in Delaware in 1999. Qualigen Therapeutics, Inc. (the “Company”) operates in one business segment. In May 2020, Qualigen, Inc. completed a reverse recapitalization transaction with Ritter Pharmaceuticals, Inc. (“Ritter”) and Ritter was renamed Qualigen Therapeutics, Inc., recognized as a reverse recapitalization. All shares of Qualigen, Inc.’s capital stock were exchanged for Qualigen Therapeutics, Inc.’s capital stock in the merger. Ritter/Qualigen Therapeutics common stock, which was previously traded on the Nasdaq Capital Market under the ticker symbol “RTTR,” commenced trading on the Nasdaq Capital Market, on a post-reverse-stock-split adjusted basis, under the trading symbol “QLGN” on May 26, 2020. Qualigen, Inc. was determined to be the accounting acquirer in a reverse recapitalization based upon the terms of the merger and other factors. All references to financial figures of the Company presented in the accompanying consolidated financial statements and in these Notes through May 22, 2020 are to those of Qualigen, Inc. All references to financial figures after May 22, 2020 are to those of Qualigen Therapeutics, Inc. and Qualigen, Inc. Basis of Presentation The accompanying consolidated financial statements of the Company have been prepared in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”), Regulation S-X and rules and regulations of the Securities and Exchange Commission (“SEC”). Principles of Consolidation The accompanying consolidated financial statements include the accounts of the Company and its wholly owned subsidiary. All intercompany balances and transactions have been eliminated in consolidation. Any reference in these notes to applicable guidance is meant to refer to U.S. GAAP. The Company views its operations and manages its business in one operating segment. All long-lived assets of the Company reside in the US. Accounting Estimates Management uses estimates and assumptions in preparing its consolidated financial statements in accordance with U.S. GAAP. Those estimates and assumptions affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities, and the reported revenues and expenses. The most significant estimates relate to the estimated fair value of warrant liabilities, stock-based compensation, write-off of patents and licenses, amortization and depreciation, inventory reserves, allowances for doubtful accounts and returns, and warranty costs. Actual results could vary from the estimates that were used. Cash and Cash Equivalents The Company considers all highly liquid investments purchased with an initial maturity of 90 days or less and money market funds to be cash equivalents. The Company maintains its cash and cash equivalents in bank deposits which at times may exceed federally insured limits. The Company has not experienced any losses in such accounts and believes it is not exposed to any significant credit risks on cash and cash equivalents. Inventory, Net Inventory is recorded at the lower of cost or net realizable value. Cost is determined using the first-in, first-out method. The Company reviews the components of its inventory on a periodic basis for excess or obsolete inventory, and records specific reserves for identified items. Long-Lived Assets The Company assesses potential impairments to its long-lived assets when there is evidence that events or changes in circumstances indicate that assets may not be recoverable. An impairment loss would be recognized when the sum of the expected future undiscounted cash flows is less than the carrying amount of the assets. The amount of impairment loss, if any, will generally be measured as the difference between the net book value of the assets and their estimated fair values. During the nine months ended December 31, 2020, the Company recognized $1.4 million of such impairment losses on the construction-in-progress on a FastPack pouch filling machine project. During the year ended March 31, 2020, no such impairment losses were recorded. Accounts Receivable, Net The Company grants credit to domestic physicians, clinics, and distributors. The Company performs ongoing credit evaluations of its customers and generally requires no collateral. Customers can purchase certain products through a financing agreement that the Company has with an outside leasing company. Under the agreement, the leasing company evaluates the credit worthiness of the customer. Upon acceptance of the product by the customer, the leasing company remits payment to the Company at a discount. This financing arrangement is without recourse to the Company. The Company provides an allowance for doubtful accounts and returns equal to the estimated uncollectible amounts or expected returns. The Company’s estimates are based on historical collections and returns and a review of the current status of trade accounts receivable. Accounts receivable is comprised of the following at: December 31, 2020 March 31, 2020 Accounts Receivable $ 248,823 $ 443,663 Less Allowance (13,873 ) (26,541 ) $ 234,950 $ 417,122 Research and Development The Company expenses research and development costs as incurred including therapeutics license costs. Shipping and Handling Costs The Company includes shipping and handling fees billed to customers in net sales. Shipping and handling costs associated with inbound and outbound freight are generally recorded in cost of sales; such shipping and handling costs totaled approximately $84,000 and $115,000, respectively, for the nine months ended December 31, 2020 and year ended March 31, 2020. Other shipping and handling costs included in general and administrative, research and development, and sales and marketing expenses totaled approximately $9,000 and $4,000 for the nine months ended December 31, 2020 and year ended March 31, 2020, respectively. Revenue from Contracts with Customers Effective April 1, 2020, the Company adopted Accounting Standards Codification (“ASC”) Topic 606 (“ASC 606”), Revenue from Contracts with Customers The core principle of the new revenue standard is that a company should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods or services. The following five steps are applied to achieve that core principle: Step 1: Identify the contract with the customer Step 2: Identify the performance obligations in the contract Step 3: Determine the transaction price Step 4: Allocate the transaction price to the performance obligations in the contract Step 5: Recognize revenue when the company satisfies a performance obligation The Company generates revenue from selling FastPack System analyzers, accessories and disposable products used with the FastPack System. Disposable products include reagent packs which are diagnostic tests for Total PSA, testosterone, thyroid disorders, pregnancy, and Vitamin D. The Company provides disposable products and equipment in exchange for consideration, which occurs when a customer submits a purchase order and the Company provides disposable products and equipment at the agreed upon prices in the invoice. Generally, customers purchase disposable products using separate purchase orders after the equipment (analyzer) has been provided to the customer. The initial delivery of the equipment and reagent packs represents a single performance obligation and is completed upon receipt by the customer. The delivery of each subsequent individual reagent pack represents a separate performance obligation because the reagent packs are standardized, are not interrelated in any way, and the customer can benefit from each reagent pack without any other product. There are no significant discounts, rebates, returns or other forms of variable consideration. Customers are generally required to pay within 30 days. The performance obligation arising from the delivery of the equipment is satisfied upon the delivery of the equipment to the customer. The disposable products are shipped Free on Board (“FOB”) shipping point. For disposable products that are shipped FOB shipping point, the customer has the significant risks and rewards of ownership and legal title to the assets when the disposable products leave the Company’s shipping facilities, thus the customer obtains control and revenue is recognized at that point in time. The Company has elected the practical expedient and accounting policy election to account for the shipping and handling as activities to fulfil the promise to transfer the disposable products and not as a separate performance obligation. The Company’s contracts with customers generally have an expected duration of one year or less, and therefore the Company has elected the practical expedient in ASC 606 to not disclose information about its remaining performance obligations. Any incremental costs to obtain contracts are recorded as selling, general and administrative expense as incurred due to the short duration of the Company’s contracts. Contract balances The timing of the Company’s revenue recognition may differ from the timing of payment by the Company’s customers. The Company records a receivable when revenue is recognized prior to payment and there is an unconditional right to payment. Alternatively, when payment precedes the provision of the related services, the Company records deferred revenue until the performance obligations are satisfied. Prior to the adoption of ASC 606, the Company accounted for its revenue arrangements under ASC 605, Revenue Recognition Revenues from product sales which included both the Company’s proprietary diagnostic equipment (“analyzer”) and various immunoassay products (“reagents”) were generally recognized upon shipment, as no significant continuing performance obligations remained post shipment. Cash payments received in advance were classified as deferred revenue and recorded as a liability. The Company was generally not contractually obligated to accept returns, except for defective products. Revenue was recorded net of an allowance for estimated returns. Multiple element arrangements included contracts that combined both the Company’s analyzer and a customer’s future reagent purchases under a single contract. In some sales contracts, the Company provided analyzers at no charge to customers. Title to the analyzer was maintained by the Company and the analyzer was returned by the customer to the Company at the end of the purchase agreement. During the nine months ended December 31, 2020 and year ended March 31, 2020, product sales are stated net of an allowance for estimated returns of approximately $1,000 and $19,000, respectively. Deferred Revenue Prior to the adoption of ASC 606, payments received in advance from customers pursuant to certain collaborative research license agreements, deposits against future product sales, multiple element arrangements and extended warranties are recorded as a current or non-current deferred revenue liability based on the time from the balance sheet date to the future date of revenue recognition. Research and Licenses Prior to the adoption of ASC 606, the Company recognized research revenue over the term of various agreements, as negotiated contracted amounts were earned or reimbursable costs were incurred related to those agreements. Negotiated contracted amounts were earned in relative proportion to the performance required under the applicable contracts. Nonrefundable license fees were recognized over the related performance period or at the time that the Company had satisfied all performance obligations. Any amounts received prior to satisfying these revenue recognition criteria were recorded as deferred revenue. During the nine months ended December 31, 2020, the Company recognized no collaborative research revenue, and during the year ended March 31, 2020 the Company recognized $85,000 in collaborative research revenue. Operating Leases Effective April 1, 2020, the Company adopted Accounting Standard Update (“ASU”) No. 2018-11, Leases (Topic 842) Targeted Improvements The Company’s leases typically contain rent escalations over the lease term. The Company recognizes expense for these leases on a straight-line basis over the lease term. Additionally, tenant incentives used to fund leasehold improvements are recognized when earned and reduce the Company’s right-of-use (“ROU”) asset related to the lease. These are amortized through the ROU asset as reductions of expense over the lease term. The Company’s office/manufacturing/warehouse/laboratory lease agreement does not contain any material residual value guarantees or material restrictive covenants. The Company has no lease agreements with lease and non-lease components. Related to the adoption of Topic 842, the Company’s policy elections were as follows: ● The Company has used the practical expedients under U.S. GAAP which allow it to not reassess whether any expired or existing contracts are considered a lease, along with grandfathering lease classifications, and treatment of indirect costs; ● The Company has elected to exclude short-term leases having initial terms of 12 months or less; ● The Company has elected not to separate non-lease components from its leases to account for them separately; ● The Company has elected not to avail itself of the practical expedient of using hindsight to determine the lease term; and ● The Company has elected the alternative transition option, by recognizing a cumulative effect adjustment to the opening balance of accumulated deficit in the period of adoption (as of April 1, 2020, the adoption of Topic 842 did not have a material effect on retained earnings). Property and Equipment, Net Property and equipment are stated at cost and are presented net of accumulated depreciation. Depreciation is provided for on a straight-line basis over the estimated useful lives of the related assets as follows: Machinery and equipment 5 years Computer equipment 3 years Molds and tooling 5 years Office furniture and equipment 5 years Leasehold improvements are amortized on a straight-line basis over the shorter of the lease term or their estimated useful lives. The Company occasionally designs and builds its own machinery. The costs of these projects, which includes the cost of construction and other direct costs attributable to the construction, are capitalized as construction in progress. No provision for depreciation is made on construction in progress until the relevant assets are completed and placed in service. The Company’s policy is to evaluate the remaining lives and recoverability of long-term assets on at least an annual basis or when conditions are present that indicate impairment. Intangible Assets, Net Intangibles consist of patent-related costs and costs for license agreements. Management reviews the carrying value of intangible assets that are being amortized on an annual basis or sooner when there is evidence that events or changes in circumstances may indicate that impairment exists. The Company considers relevant cash flow and profitability information, including estimated future operating results, trends and other available information, in assessing whether the carrying value of intangible assets being amortized can be recovered. If the Company determines that the carrying value of intangible assets will not be recovered from the undiscounted future cash flows expected to result from the use and eventual disposition of the underlying assets, the Company considers the carrying value of such intangible assets as impaired and reduces them by a charge to operations in the amount of the impairment. Costs related to acquiring patents and licenses are capitalized and amortized over their estimated useful lives, which is generally 5 to 17 years, using the straight-line method. Amortization of patents and licenses commences once final approval of the patent has been obtained. Patent and licenses costs are charged to operations if it is determined that the patent will not be obtained. The carrying value of the patents of approximately $169,000 and $422,000 at December 31, 2020 and March 31, 2020, respectively, are stated net of accumulated amortization of approximately $303,000 and $293,000, respectively. Amortization of patents charged to operations for the nine months ended December 31, 2020 and year ended March 31, 2020 were approximately $10,000 and $13,000, respectively. Total future estimated amortization of patent costs for the five succeeding years is approximately $14,000 for the year ending December 31, 2021, approximately $15,000 for each of the years ending December 31, 2022 through 2023, approximately $14,000 for year 2024, approximately $11,000 for year 2025 and approximately $100,000 thereafter. The carrying value of the licenses of approximately $19,000 and $149,000 at December 31, 2020 and March 31, 2020 are stated net of accumulated amortization of approximately $400,000 and $395,000, respectively. Amortization of licenses charged to operations for the nine months ended December 31, 2020 and year ended March 31, 2020 was approximately $5,000, and $7,000, respectively. Total future estimated amortization of license costs for the five succeeding years is approximately $4,000 for each of the years ending December 31, 2021 through 2025. Derivative Financial Instruments and Warrant Liabilities The Company does not use derivative instruments to hedge exposures to cash flow, market, or foreign currency risks. The Company evaluates all of its financial instruments, including issued stock purchase warrants, to determine if such instruments are derivatives or contain features that qualify as embedded derivatives. For derivative financial instruments that are accounted for as liabilities, the derivative instrument is initially recorded at its fair value and is then re-valued at each reporting date, with changes in the fair value reported in the Consolidated Statements of Operations. Depending on the features of the derivative financial instrument, the Company uses either the Black-Scholes option-pricing model or a Monte-Carlo simulation to value the derivative instruments at inception and subsequent valuation dates. The classification of derivative instruments, including whether such instruments should be recorded as liabilities or as equity, is re-assessed at the end of each reporting period (See Note 8). Fair value measurements ● Level 1 - Inputs that reflect unadjusted quoted prices in active markets for identical assets or liabilities that we have the ability to access at the measurement date; ● Level 2 - Inputs other than quoted prices that are observable for the assets or liability either directly or indirectly, including inputs in markets that are not considered to be active; and ● Level 3 - Inputs that are unobservable. Fair Value of Financial Instruments Cash and cash equivalents, accounts receivable, accounts payable, accrued liabilities, and debt are carried at cost, which management believes approximates fair value due to the short-term nature of these instruments. Stock-Based Compensation Stock-based compensation cost for equity awards granted to employees and non-employees is measured at the grant date based on the calculated fair value of the award using the Black-Scholes option-pricing model, and is recognized as an expense, under the straight-line method, over the requisite service period (generally the vesting period of the equity grant). If the Company determines that other methods are more reasonable, or other methods for calculating these assumptions are prescribed by regulators, the fair value calculated for the Company’s stock options could change significantly. Higher volatility and longer expected lives would result in an increase to stock-based compensation expense to employees and non-employees determined at the date of grant. Income Taxes Deferred income taxes are recognized for temporary differences in the basis of assets and liabilities for financial statement and income tax reporting that arise due to net operating loss carry forwards, research and development credit carry forwards and from using different methods and periods to calculate depreciation and amortization, allowance for doubtful accounts, accrued vacation, research and development expenses, and state taxes. A provision has been made for income taxes due on taxable income and for the deferred taxes on the temporary differences. The components of the deferred tax asset and liability are individually classified as current and noncurrent based on their characteristics. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the date of enactment. Realization of the deferred income tax asset is dependent on generating sufficient taxable income in future years. Sales and Excise Taxes Sales and other taxes collected from customers and subsequently remitted to government authorities are recorded as accounts receivable with corresponding tax payable. These balances are removed from the balance sheet as cash is collected from customers and remitted to the tax authority. Warranty Costs The Company’s warranty policy generally provides for one year of coverage against defects and nonperformance within published specifications for sold analyzers and for the term of the contract for equipment held for lease. The Company accrues for estimated warranty costs in the period in which the revenue is recognized based on historical data and the Company’s best estimates of analyzer failure rates and costs to repair. Accrued warranty liabilities were approximately $25,000 and $30,000, respectively, at December 31, 2020 and March 31, 2020 and are included in accrued expenses and other current liabilities on the balance sheets. Warranty costs were approximately $54,000 and $57,000 for the nine months ended December 31, 2020 and year ended March 31, 2020, respectively, and are included in cost of product sales in the statements of operations. Recent Accounting Pronouncements In June 2016, the Financial Accounting Standards Board (“FASB”) issued ASU No. 2016-13, Measurement of Credit Losses on Financial Instruments Financial Instruments – Credit Losses (Topic 326), Derivatives and Hedging (Topic 815) Leases (Topic 842) In August 2020, the FASB issued ASU No. 2020-06, “ Debt—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 In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers Topic 606 (“ ”) In July 2018, the FASB issued ASU No. 2018-11, Leases (Topic 842) Targeted Improvements In August 2018, the FASB issued ASU No. 2018-13, “ Fair Value Measurement (Topic 820): Disclosure Framework — Changes to the Disclosure Requirements for Fair Value Measurement, Other accounting standard updates are either not applicable to the Company or are not expected to have a material impact on the Company’s consolidated financial statements.

Liquidity

Liquidity	9 Months Ended
	Dec. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Liquidity	NOTE 2 — LIQUIDITY The Company has incurred recurring losses from operations and has an accumulated deficit at December 31, 2020, and the Company expects to continue to incur losses subsequent to the balance sheet date of December 31, 2020. The Company’s reverse recapitalization transaction with Ritter closed in May 2020 together with an associated new equity capital raise of approximately $4.0 million, and approximately $1.9 million in convertible notes payable were converted into shares of the Company’s capital stock. In July, August and December 2020, the Company raised an additional $30.0 million through three Securities Purchase Agreements with a single institutional investor (see Note 11). Based on the Company’s current cash position, and assuming currently planned expenditures and level of operations, the Company believes the Company has sufficient capital to fund operations for the 12-month period subsequent to the issuance of the accompanying consolidated financial statements. However, there is no assurance that profitable operations will ever be achieved, or if achieved, could be sustained on a continuing basis. Also, beyond such 12-month period, planned research and development activities, capital expenditures, clinical and pre-clinical testing, and commercialization activities of the Company’s products are expected to require significant additional financing. Additional financing may not be available on acceptable terms or at all.

Inventory, Net

Inventory, Net	9 Months Ended
	Dec. 31, 2020
Inventory Disclosure [Abstract]
Inventory, Net	NOTE 3 — INVENTORY, NET Inventory, net consisted of the following at December 31, 2020 and March 31, 2020: December 31, 2020 March 31, 2020 Raw materials $ 579,765 $ 457,425 Work in process 309,826 117,729 Finished goods 63,867 84,984 $ 953,458 $ 660,138

Prepaid Expenses

Prepaid Expenses	9 Months Ended
	Dec. 31, 2020
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Prepaid Expenses	NOTE 4 — PREPAID EXPENSES Prepaid expenses consisted of the following at December 31, 2020 and March 31, 2020: December 31, 2020 March 31, 2020 Prepaid insurance $ 1,307,864 $ 26,981 Prepaid manufacturing expenses 1,181,029 34,078 Prepaid investor relations expenses 150,000 — Other prepaid expenses 40,001 37,326 $ 2,678,894 $ 98,385

Property and Equipment, Net

Property and Equipment, Net	9 Months Ended
	Dec. 31, 2020
Property, Plant and Equipment [Abstract]
Property and Equipment, Net	NOTE 5 — PROPERTY AND EQUIPMENT, NET Property and equipment, net consisted of the following at December 31, 2020 and March 31, 2020: December 31, 2020 March 31, 2020 Machinery and equipment $ 2,401,470 $ 2,355,165 Construction in progress–equipment 104,400 1,376,000 Computer equipment 443,865 420,552 Leasehold improvements 321,033 307,539 Molds and tooling 260,002 260,002 Office furniture and equipment 138,699 136,275 3,669,469 4,855,533 Less Accumulated depreciation (3,422,146 ) (3,408,019 ) $ 247,323 $ 1,447,514 Depreciation expense relating to property and equipment was approximately $33,000 and $61,000 for the nine months ended December 31, 2020 and year ended March 31, 2020, respectively.

Accrued Expenses and Other Curr

Accrued Expenses and Other Current Liabilities	9 Months Ended
	Dec. 31, 2020
Payables and Accruals [Abstract]
Accrued Expenses and Other Current Liabilities	NOTE 6 — ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES Accrued expenses and other current liabilities consisted of the following at December 31, 2020 and March 31, 2020: December 31, 2020 March 31, 2020 Board compensation $ 15,091 $ — Vacation 230,457 160,024 Royalties 491 26,099 Research and development 237,504 288,184 Professional fees 58,261 277,900 Deferred rent — 77,597 Warranty costs 24,871 30,119 Payroll 4,566 35,052 Patent and license fees 7,204 51,007 Sales and use taxes 30,353 16,755 Income taxes 3,326 8,100 Interest — 247,569 Other 134,614 25,358 $ 746,738 $ 1,243,764

Notes Payable

Notes Payable	9 Months Ended
	Dec. 31, 2020
Debt Disclosure [Abstract]
Notes Payable	NOTE 7 — NOTES PAYABLE Notes payable consisted of the following at December 31, 2020 and March 31, 2020: December 31, 2020 March 31, 2020 Insurance Financing Agreement with a finance company, monthly payments of $119,943 including interest of 4.54% per annum; secured by an insurance policy; due January 2021 $ 119,491 $ — Equipment Financing Agreement with a bank, monthly payments of $720 including imputed interest at 6.95% per annum; secured by laboratory equipment; due October 2022 14,826 20,370 Equipment Financing Agreement with a bank, monthly payments of $596 including imputed interest at 6.590% per annum; secured by manufacturing equipment; due July 2021 4,422 9,441 A Factoring and Security Agreement for up to $2,000,000 with a bank, interest at Prime plus 2% of the amount of advances outstanding and a factoring fee of 0.01% per day of the face amount of each invoice for each calendar day that a factored invoice is outstanding — 489,051 An unsecured convertible note with an investor including interest at 10% per annum; due September 2019, which was extended by the noteholder until May 2020 — 1,000,000 A series of unsecured convertible bridge notes with investors, including interest of 8% per annum; due between June 2020 and February 2021 — 410,000 A series of unsecured convertible bridge notes with investors, including interest of 8% per annum; due between January and February 2022 — 290,198 138,739 2,219,060 Less current portion, net of debt issuance costs (131,766 ) (1,913,255 ) Notes Payable, net of current portion $ 6,973 $ 305,805 Future maturities of notes payable are as follows as of December 31, 2020: Year Ending December 31, Amount 2021 $ 131,766 2022 6,973 Total balance $ 138,739

Warrant Liabilities

Warrant Liabilities	9 Months Ended
	Dec. 31, 2020
Warrant Liabilities
Warrant Liabilities	NOTE 8 – WARRANT LIABILITIES In 2004, the Company issued warrants to various investors and brokers for the purchase of Series C preferred stock in connection with a private placement (the “Series C Warrants”). The Series C Warrants were subsequently extended and, upon closing of the reverse recapitalization transaction with Ritter, exchanged for warrants to purchase common stock of the Company, pursuant to the Series C Warrant terms as adjusted. In exchange for the Series C Warrants, upon closing of the merger with Ritter, the holders received warrants to purchase an aggregate of 4,713,490 shares of the Company’s common stock at $0.72 per share, subject to adjustment. As of December 31, 2020, the warrants received in exchange for the Series C Warrants have remaining terms ranging from 2.9 to 3.5 years. The warrants were determined to be liability-classified pursuant to the guidance in ASC 480 and ASC 815-40, resulting from inclusion of a leveraged ratchet provision for subsequent dilutive issuances. The following table summarizes the activity in the warrants received in exchange for the Series C Warrants for the nine months ended December 31, 2020: Common Stock Warrants (received in exchange for the Shares Weighted– Average Exercise Price Range of Exercise Price Weighted– Average Remaining Life (Years) Total outstanding – March 31, 2020 — $ — Series C preferred stock warrants exchanged for common stock warrants upon reverse recapitalization 4,713,490 0.72 Exercised (1,334,894 ) 0.72 Forfeited — — Expired — — Granted — — Total outstanding – December 31, 2020 3,378,596 $ 0.72 Exercisable 3,378,596 $ 0.72 $ 0.72 3.02 Non-Exercisable — $ — $ — — The following table summarizes the Series C Warrants activity for the year ended March 31, 2020: Series C Preferred Stock Warrants Shares Weighted– Average Exercise Price Range of Exercise Price Weighted– Average Remaining Life (Years) Total outstanding – March 31, 2019 1,441,180 $ 2.35 Forfeited — — Expired — — Granted — — Total outstanding – March 31, 2020 1,441,180 $ 2.35 Exercisable 1,441,180 $ 2.35 $ 2.25 – $2.70 4.85 Non-Exercisable — $ — $ — — The following table summarizes the Series C Warrants activity for the nine months ended December 31, 2020: Series C Preferred Stock Warrants Shares Weighted– Average Exercise Price Range of Exercise Price Weighted– Average Remaining Life (Years) Total outstanding – March 31, 2020 1,441,180 $ 2.35 $ 2.25 – $2.70 4.85 Series C preferred stock warrants exchanged for common stock warrants upon reverse recapitalization (1,441,180 ) 2.35 Total outstanding – December 31, 2020 — $ — — — The following table presents the Company’s fair value hierarchy for its warrant liabilities (all of which arise under the warrants received in exchange for the Series C Warrants) measured at fair value on a recurring basis as of December 31, 2020: Quoted Market Significant Prices for Other Significant Identical Observable Unobservable Assets Inputs Inputs Warrant liabilities (Level 1) (Level 2) (Level 3) Total Balance as of December 31, 2020 $ - $ - $ 8,310,100 $ 8,310,100 There were no transfers of financial assets or liabilities between category levels for the nine months ended December 31, 2020. The value of the warrant liabilities was based on a valuation received from an independent valuation firm determined using a Monte-Carlo simulation. For volatility, the Company considers comparable public companies as a basis for its expected volatility to calculate the fair value of common stock warrants and transitions to its own volatility as the Company develops sufficient appropriate history as a public company. The risk-free interest rate is based on U.S. Treasury notes with a term approximating the expected term of the common stock warrant. The Company uses an expected dividend yield of zero based on the fact that the Company has never paid cash dividends and does not expect to pay cash dividends in the foreseeable future. Any significant changes in the inputs may result in significantly higher or lower fair value measurements. The following are the weighted average and the range of assumptions used in estimating the fair value of warrant liabilities (weighted average calculated based on the number of outstanding warrants on each issuance) as of December 31, 2020: December 31, 2020 Range Weighted Average Risk-free interest rate 0.17% — 0.22 % 0.18 % Expected volatility (peer group) 82.00 % 82.00 % Term of warrants (in years) 2.90 — 3.49 3.02 Expected dividend yield 0.00 % 0.00 % The value of the warrant liabilities is based on a valuation received from an independent valuation firm determined using a Monte-Carlo simulation.

Leases

Leases	9 Months Ended
	Dec. 31, 2020
Leases [Abstract]
Leases	NOTE 9 — LEASES The Company leases its facilities under a long-term operating lease agreement expiring in October 2022. The tables below show the operating lease right-of-use assets and operating lease liabilities as of initial measurement at April 1, 2020 and the balances as of December 31, 2020, including the changes during the periods: Operating lease Initial measurement at April 1, 2020: $ 663,110 Less deferred rent allowance (77,597 ) Net right-of-use assets at April 1, 2020 585,513 Less amortization of operating lease right-of-use assets (154,718 ) Operating lease right-of-use assets at December 31, 2020 $ 430,795 Operating lease liabilities Initial measurement at April 1, 2020: $ 663,110 Less principal payments on operating lease liabilities (171,545 ) Operating lease liabilities at December 31, 2020 491,565 Less non-current portion 236,826 Current portion at December 31, 2020 $ 254,739 As of December 31, 2020, the Company’s operating leases have a weighted-average remaining lease term of 1.8 years and a weighted-average discount rate of 8.9%. As of December 31, 2020, the maturities of operating lease liabilities are as follows: Year Ending December 31, Amount 2021 $ 288,355 2022 246,650 Total 535,005 Less present value discount (43,440 ) Operating lease liabilities $ 491,565 Total lease expense was approximately $259,000 and $343,000, respectively, for the nine months ended December 31, 2020 and year ended March 31, 2020. Lease expense was recorded in cost of product sales, general and administrative expenses, research and development and sales and marketing expenses.

Research and License Agreements

Research and License Agreements	9 Months Ended
	Dec. 31, 2020
Research And License Agreements
Research and License Agreements	NOTE 10 — RESEARCH AND LICENSE AGREEMENTS Between June 2018 and September 2020, the Company entered into license and sponsored research agreements with the University of Louisville Research Foundation (“ULRF”) for QN-247, a novel molecular-based compound that has shown promise as an anticancer drug. Under the agreements, the Company will take over development, regulatory approval and commercialization of the compound from ULRF and is responsible for maintenance of the related intellectual property portfolio. In return, ULRF received a $50,000 convertible promissory note in payment of an upfront license fee, which was subsequently converted into the Company’s common stock, and the Company agreed to reimburse ULRF for sponsored research expenses of up to $805,000 and prior patent costs of up to $200,000. In addition, the Company agreed to pay ULRF (i) royalties, on patent-covered net sales associated with the commercialization of anti-nucleolin agent-conjugated nanoparticles, of 4% (on net sales up to a cumulative $250,000,000) or 5% (on net sales above a cumulative $250,000,000), until expiration of the last to expire of the licensed patents, (ii) 30% to 50% of any non-royalty sublicensee income received (50% for sublicenses granted in the first two years of the ULRF license agreement, 40% for sublicenses granted in the third or fourth years of the ULRF license agreement, and 30% for sublicenses granted in the fifth year of the ULRF license agreement or thereafter), (iii) reimbursements for ongoing costs associated with the preparation, filing, prosecution and maintenance of licensed patents, incurred prior to June 2018, and (iv) payments ranging from $100,000 to $5,000,000 upon the achievement of certain regulatory and commercial milestones. Milestone payments for the first therapeutic indication would be $100,000 for first dosing in a Phase 1 clinical trial, $200,000 for first dosing in a Phase 2 clinical trial, $350,000 for first dosing in a Phase 3 clinical trial, $500,000 for regulatory marketing approval and $5,000,000 upon achieving a cumulative $500,000,000 of Licensed Product sales; the Company would also pay another $500,000 milestone payment for any additional regulatory marketing approval for each additional therapeutic (or diagnostic) indication. The Company also must pay ULRF shortfall payments if the total amounts actually paid with respect to royalties and non-royalty sublicensee income for any year is less than the applicable annual minimum (ranging from $10,000 to $50,000) for such year. There was approximately $14,000 and $117,000 in sponsored research expenses related to these agreements for the nine months ended December 31, 2020 and year ended March 31, 2020, respectively, and these amounts are recorded in research and development expenses in the statements of operations. Minimum annual royalties of $10,000 and $0 related to these agreements are included in research and development expenses in the statements of operations for the nine months ended December 31, 2020 and year ended March 31, 2020, respectively. License costs were approximately $470,000 and $0 related to these agreements for the nine months ended December 31, 2020 and year ended March 31, 2020, respectively, and are included in research and development expenses in the statements of operations. In December 2018, the Company entered into a license agreement with Advanced Cancer Therapeutics, LLC (“ACT”), granting the Company exclusive rights to develop and commercialize QN-165, an aptamer-based drug candidate. In return, ACT received a $25,000 convertible promissory note in payment of an upfront license fee, which was subsequently converted into the Company’s common stock. In addition, the Company agreed to pay ACT (i) royalties, on net sales associated with the commercialization of QN-165, of 2% (only if patent-covered and only on net sales above a cumulative $3,000,000) or 1% (if not patent-covered, but only on net sales above a cumulative $3,000,000), until the 15th anniversary of the ACT license agreement and (ii) milestone payments of $100,000 for the Company raising a cumulative total of $2,000,000 in new equity financing after the date of the ACT license agreement, $100,000 upon any first QN-165-based licensed product receiving the CE Mark or similar FDA status, and $500,000 upon cumulative worldwide QN-165-based licensed product net sales reaching $3,000,000. In May 2020, the $100,000 milestone payment for the Company raising a cumulative total of $2,000,000 in new equity financing was triggered. This amount is included in research and development expenses as of December 31, 2020. Between April and August 2020, the Company purchased drug compounds from ACT for $10,000, and an Investigational New Drug (IND) application from ACT for an additional $100,000. Upon successful recertification of the drug compounds, ACT will receive an additional $50,000. Of these amounts, for the nine months ended December 31, 2020 and year ended March 31, 2020, $100,000 and $0 respectively, are included in research and development expenses in the statements of operations. In March 2019, the Company entered into a sponsored research agreement and an option for a license agreement with ULRF for development of several small-molecule RAS interaction inhibitor drug candidates. Under the terms of this agreement, the Company will reimburse ULRF for sponsored research expenses of up to $693,000 for this program. In July 2020, the Company entered into an exclusive license agreement with ULRF for RAS interaction inhibitor drug candidates. Under the agreement, the Company will take over development, regulatory approval and commercialization of the candidates from ULRF and is responsible for maintenance of the related intellectual property portfolio. In return, ULRF received approximately $112,000 for an upfront license fee and reimbursement of prior patent costs. In addition, the Company has agreed to pay ULRF (i) royalties, on patent-covered net sales associated with the commercialization, of 4% (on net sales up to a cumulative $250,000,000) or 5% (on net sales above a cumulative $250,000,000), until expiration of the licensed patent, and 2.5% (on net sales for any sales not covered by Licensed Patents), (ii) 30% to 50% of any non-royalty sublicensee income received (50% for sublicenses granted in the first two years of the ULRF license agreement, 40% for sublicenses granted in the third or fourth years of the ULRF license agreement, and 30% for sublicenses granted in the fifth year of the ULRF license agreement or thereafter), (iii) reimbursements for ongoing costs associated with the preparation, filing, prosecution and maintenance of licensed patents, incurred prior to July 2020, and (iv) payments ranging from $50,000 to $5,000,000 upon the achievement of certain regulatory and commercial milestones. Milestone payments for the first therapeutic indication would be $50,000 for first dosing in a Phase 1 clinical trial, $100,000 for first dosing in a Phase 2 clinical trial, $150,000 for first dosing in a Phase 3 clinical trial, $300,000 for regulatory marketing approval and $5,000,000 upon achieving a cumulative $500,000,000 of Licensed Product sales. The Company also must pay ULRF shortfall payments if the total amounts actually paid with respect to royalties and non-royalty sublicensee income for any year is less than the applicable annual minimum (ranging from $20,000 to $100,000) for such year. Sponsored research expenses related to these agreements for the nine months ended December 31, 2020 and year ended March 31, 2020 were approximately $283,000 and $205,000, respectively, and are recorded in research and development expenses in the statements of operations. License costs related to these agreements for the nine months ended December 31, 2020 and year ended March 31, 2020 were approximately $160,000 and $0, respectively, and are included in research and development expenses in the statements of operations. In June 2020, the Company entered into an exclusive license agreement with ULRF for its intellectual property in the use of QN-165 as a treatment for COVID-19. Under the agreement, the Company will take over development, regulatory approval and commercialization of the compound (for such use) from ULRF and is responsible for maintenance of the related intellectual property portfolio. In return, ULRF received approximately $24,000 for an upfront license fee and reimbursement of prior patent costs. In addition, the Company was required to enter into a separate sponsored research agreement with ULRF (for QN-165 as a treatment for COVID-19) for at least $250,000. In November 2020, the Company executed a sponsored research agreement with ULRF (for QN-165 as a treatment for COVID-19) supporting up to approximately $430,000 in research which satisfied this requirement (see Note 13). In addition, the Company has agreed to pay ULRF (i) royalties, on patent-covered net sales associated with the commercialization of QN-165 as a treatment for COVID-19, of 4% (on net sales up to a cumulative $250,000,000) or 5% (on net sales above a cumulative $250,000,000), until expiration of the licensed patents, and 2.5% (on net sales for any sales not covered by Licensed Patents), (ii) 30% to 50% of any non-royalty sublicensee income received (50% for sublicenses granted in the first two years of the ULRF license agreement, 40% for sublicenses granted in the third or fourth years of the ULRF license agreement, and 30% for sublicenses granted in the fifth year of the ULRF license agreement or thereafter), (iii) reimbursements for ongoing costs associated with the preparation, filing, prosecution and maintenance of licensed patents, incurred prior to June 2020, and (iv) payments ranging from $50,000 to $5,000,000 upon the achievement of certain regulatory and commercial milestones. Milestone payments would be $50,000 for first dosing in a Phase 1 clinical trial, $100,000 for first dosing in a Phase 2 clinical trial, $150,000 for first dosing in a Phase 3 clinical trial, $300,000 for regulatory marketing approval and $5,000,000 upon achieving a cumulative $500,000,000 of Licensed Product sales. The Company also must pay ULRF shortfall payments if the total amounts actually paid with respect to royalties and non-royalty sublicensee income for any year is less than the applicable annual minimum (ranging from $5,000 to $50,000) for such year. License costs related to this agreement for the nine months ended December 31, 2020 and year ended March 31, 2020 were approximately $24,000 and $0, respectively, and are included in research and development expenses in the statements of operations. In November 2015, the Company entered into a long-term development and supply agreement with Prediction Biosciences SAS, an unrelated party, to develop and manufacture diagnostic tests for use in the stroke point-of-care market. The Company recognizes development revenue and product sales over the performance period of the contract. For the nine months ended December 31, 2020 and year ended March 31, 2020, there was $0 and $85,000, respectively, in collaborative research revenue related to this agreement. During the year ended March 31, 2018, the Company extended a strategic partnership entered into in May 2016 with Sekisui Diagnostics, LLC (“Sekisui”) until May 2022. The Company appointed Sekisui as its diagnostics commercial partner and exclusive worldwide distributor with the exception of certain customer accounts retained by Qualigen. The agreement contains a right of first refusal for Sekisui against any potential acquisition of the Company until May 2022. There were product sales to Sekisui of approximately $1.6 million and $3.4 million, respectively, for the nine months ended December 31, 2020 and year ended March 31, 2020, related to this agreement. In October 2020, the Company entered into a Technology Transfer Agreement with Yi Xin Zhen Duan Jishu (Suzhou) Ltd. (“Yi Xin”), of Suzhou, China, for Yi Xin to develop, manufacture and sell new generations of diagnostic test systems based on the Company’s core FastPack technology. In addition, the Technology Transfer Agreement authorized Yi Xin to manufacture and sell the Company’s current generations of FastPack System diagnostic products (1.0, IP and PRO) in China. Under the Technology Transfer Agreement, the Company received net cash payments of $250,000 in the final quarter of the Transition Period, classified as deferred revenue on the December 31, 2020 balance sheet, and $420,000 in the first quarter of 2021, plus the Company will receive low- to mid-single-digit royalties on any future new-generations and current-generations product sales by Yi Xin. The Company provided technology transfer and patent/know-how license rights to facilitate Yi Xin’s development and commercialization. The Company gave Yi Xin the exclusive rights for China – which is a market the Company has not otherwise entered – both for Yi Xin’s new generations of FastPack-based products and for Yi Xin-manufactured versions of the Company’s existing FastPack product lines. Yi Xin will also have the right to sell its new generations of FastPack-based diagnostic test systems throughout the world (but not to or toward current customers of the Company’s existing generations of FastPack products); any such non-China sales would, until May 1, 2022, need to be through Sekisui. In addition, after May 1, 2022, Yi Xin will have the right to sell Yi Xin-manufactured versions of existing FastPack 1.0, IP and PRO product lines worldwide (other than in the United States and other than to or toward current non-US customers of those products). Also, after May 1, 2022, Yi Xin will have the right to buy Company-manufactured FastPack 1.0, IP and PRO products from the Company at distributor prices for resale in and for the United States (but not to or toward current US customers of those products); the Company did not license Yi Xin to sell in the United States market any Yi Xin-manufactured versions of those legacy FastPack 1.0, IP and PRO product lines, even after May 1, 2022. In the Technology Transfer Agreement, the Company confirmed that it would not, after May 1, 2022, seek new FastPack customers outside the United States. In November 2020, the Company entered into a contract with STA Pharmaceutical Co., Ltd., a subsidiary of WuXi AppTec, for GMP production of QN-165, the Company’s lead drug candidate for the treatment of COVID-19 and other viral diseases, for potential clinical trials in 2021. In connection with this agreement, the Company paid an upfront deposit of approximately $1.1 million which is classified as prepaid expenses on the December 31, 2020 balance sheet date.

Stockholders' Equity (Deficit)

Stockholders' Equity (Deficit)	9 Months Ended
	Dec. 31, 2020
Equity [Abstract]
Stockholders' Equity (Deficit)	NOTE 11 — STOCKHOLDERS’ EQUITY (DEFICIT) As of December 31, 2020, the Company had two classes of capital stock: common stock and Series Alpha convertible preferred stock. As of March 31, 2020, the Company had two classes of capital stock with one being divided into five series: common stock and preferred stock (Series A convertible preferred stock, Series B convertible preferred stock, Series C convertible preferred stock, Series D convertible preferred stock and Series D-1 convertible preferred stock). Common Stock Holders of common stock generally vote as a class with the holders of the preferred stock and are entitled to one vote for each share held. Subject to the rights of the holders of the preferred stock to receive preferential dividends, the holders of common stock are entitled to receive dividends when and if declared by the Board of Directors. Following payment of the liquidation preference of the preferred stock, as of March 31, 2020 any remaining assets would be distributed ratably among the holders of the common stock and, on an as-if-converted basis, the holders of Series C convertible preferred stock, Series D convertible preferred stock and Series D-1 convertible preferred stock) upon liquidation, dissolution or winding up of the affairs of the Company. Following payment of the liquidation preference of the preferred stock, as of December 31, 2020 any remaining assets would be distributed ratably among the holders of the common stock and, on an as-if-converted basis, the holders of Series Alpha convertible preferred stock upon liquidation, dissolution or winding up of the affairs of the Company. The holders of common stock have no preemptive, subscription or conversion rights and there are no redemption or sinking fund provisions. At December 31, 2020, the Company has reserved 15,477,364 shares of authorized but unissued common stock for possible future issuance. At December 31, 2020, shares were reserved in connection with the following: Exercise of issued and future grants of stock options 4,011,356 Exercise of stock warrants 11,222,590 Conversion of Series Alpha preferred stock 243,418 Total 15,477,364 Series A, B, C, D, D-1, Alpha Convertible Preferred Stock At March 31, 2020, there were 2,412,887, 7,707,736, 3,300,715, 1,508,305 and 643,511 shares of Series A, B, C, D, D-1 convertible preferred stock outstanding respectively. All shares of Series A, B, C, D, D-1 convertible preferred stock were converted into common stock at the time of the May 2020 reverse recapitalization transaction. In the nine months ended December 31, 2020, the holder of Series Alpha preferred stock converted 5,180 of its shares of Series Alpha preferred stock into an aggregate of 7,004,983 shares of the Company’s common stock, and there were 180 shares of Series Alpha preferred stock outstanding at December 31, 2020. Alpha Securities Purchase Agreements On July 10, 2020, the Company closed a Securities Purchase Agreement (dated July 8, 2020) with a single institutional investor for the purchase and sale for $8.0 million for (i) 1,140,570 shares of Company common stock, (ii) 780,198 pre-funded warrants (i.e., warrants to purchase shares of Company common stock, for which the exercise price is almost entirely prepaid) and (iii) 1,920,768 two-year warrants to purchase shares of Company common stock for an exercise price of $5.25 per share. Both sets of warrants included a 9.99% beneficial-ownership blocker provision. The 780,198 pre-funded warrants were then exercised on July 21 and 22, 2020. On August 4, 2020, the Company closed a Securities Purchase Agreement (dated August 2, 2020) with a single institutional investor for the purchase and sale for $10.0 million for (i) 1,717,106 shares of Company common stock, and (ii) 1,287,829 two-year warrants to purchase shares of Company common stock for an exercise price of $6.00 per share. The warrants included a 9.99% beneficial-ownership blocker provision. On December 18, 2020, the Company closed a Securities Purchase Agreement (dated December 16, 2020) with a single institutional investor for the purchase and sale for $12,000,000 of (i) 2,370,786 shares of Company common stock, (ii) 1,000,000 pre-funded warrants (i.e., warrants to purchase shares of Company common stock, for which the exercise price is almost entirely prepaid) (iii) 1,348,314 two-year warrants to purchase shares of Company common stock for an exercise price of $4.07 per share, and (iv) 842,696 warrants (first exercisable 6 months after issuance, and with an expiration date 30 months after issuance) to purchase shares of Company common stock for an exercise price of $4.07 per share. The warrants included a 9.99% beneficial-ownership blocker provision. Stock Options and Equity Classified Warrants Stock Options The Company recognizes all compensatory stock-based payments as compensation expense over the service period, which is generally the vesting period. In April 2020, the Company adopted the 2020 Stock Incentive Plan (the “2020 Plan”) which provides for the granting of incentive or nonstatutory common stock options to qualified employees, officers, directors, consultants and other service providers. At December 31, 2020 and March 31, 2020 there were 3,917,500 and 0 outstanding options respectively under the 2020 Plan and there were 139,657 and 0 options available respectively for future grant. The following represents a summary of the options granted to employees and non-employee service providers that are outstanding at December 31, 2020, and changes during the nine months then ended: Shares Weighted– Average Exercise Price Range of Exercise Price Weighted– Average Remaining Life (Years) Total outstanding – March 31, 2020 — $ — Legacy Ritter options 95,124 92.80 $ 5.75—$1,465.75 1.39 Granted 3,917,500 4.97 $ 3.52—$5.13 9.46 Expired (1,268 ) 34.54 $ 15.00 — 562.50 Forfeited — — Total outstanding – December 31, 2020 4,011,356 $ 7.05 $ 3.52—$1,465.75 9.29 Exercisable (vested) 108,856 $ 81.38 $ 3.52—$1,465.75 2.50 Non-Exercisable (non-vested) 3,902,500 $ 4.97 $ 3.52—$5.13 9.47 There was approximately $2.8 million and $0 of compensation costs related to outstanding options for the nine months ended December 31, 2020 and year ended March 31, 2020, respectively. As of December 31, 2020, there was approximately $12.6 million of total unrecognized compensation cost related to unvested stock-based compensation arrangements. This cost is expected to be recognized over a weighted average period of 2.46 years. No stock options were exercised during the nine months ended December 31, 2020. The exercise price for an option issued under the 2020 Plan is determined by the Board of Directors, but will be (i) in the case of an incentive stock option (A) granted to an employee who, at the time of grant of such option, is a 10% stockholder, no less than 110% of the fair market value per share on the date of grant; or (B) granted to any other employee, no less than 100% of the fair market value per share on the date of grant; and (ii) in the case of a non-statutory stock option, no less than 100% of the fair market value per share on the date of grant. The options awarded under the 2020 Plan will vest as determined by the Board of Directors but will not exceed a ten-year period. The weighted average grant date fair value per share of the shares underlying options granted during the nine months ended December 31, 2020 was $4.97. Fair Value of Equity Awards The Company utilizes the Black-Scholes option pricing model to value awards under the 2020 Plan. Key valuation assumptions include: ● Expected dividend yield. ● Expected stock-price volatility. ● Risk-free interest rate. ● Expected term. The material factors incorporated in the Black-Scholes model in estimating the fair value of the options granted for the periods presented were as follows: For the nine months ended December 31, 2020 Expected dividend yield 0.00 % Expected stock-price volatility 102 % Risk-free interest rate 0.33% — 0.65 % Expected average term of options (in years) 6.0 Stock price $ 3.52 — 5.13 The Company recorded stock-based compensation expense and classified it in the consolidated statements of operations as follows: For the nine months ended December 31, 2020 For the year ended March 31, 2020 General and administrative $ 2,388,380 $ 4,830 Research and development 412,471 3,036 Total $ 2,800,851 $ 7,866 Equity Classified Compensatory Warrants In the nine months ended December 31, 2020, in connection with the $4.0 million equity capital raise as part of the May 2020 reverse recapitalization transaction, the Company issued common stock warrants to an advisor and its designees for the purchase of 811,431 shares of the Company’s common stock at an exercise price of $1.11 per share. The issuance cost of these warrants was charged to additional paid-in capital, and did not result in expense on the Company’s statements of operations. In addition, various service providers hold equity classified compensatory warrants issued in 2017 and earlier (originally exercisable to purchase Series C convertible preferred stock, and now instead exercisable to purchase common stock) for the purchase of 668,024 shares of Company common stock at a weighted average exercise price of $2.34 per share. These are to be differentiated from the Series C Warrants described in Note 8. No compensatory warrants were issued in the year ended March 31, 2020. The following table summarizes the equity classified compensatory warrant activity for the nine months ended December 31, 2020: Common Stock Shares Weighted– Average Exercise Price Range of Weighted– Average Remaining Life (Years) Total outstanding – March 31, 2020 — $ — Series C preferred stock compensatory warrants exchanged for common stock warrants upon reverse recapitalization 668,024 2.25 Granted to advisor and its designees 811,431 1.11 Exercised (159,978 ) 1.26 Expired — — Forfeited (25,260 ) 2.07 Total outstanding – December 31, 2020 1,294,217 $ 1.6670 Exercisable 1,290,621 $ 1.66 $ 1.11 —$2.54 4.17 Non-Exercisable 3,596 $ 2.54 $ 2.54 5.72 The following table summarizes the compensatory warrant activity for the year ended March 31, 2020: Series C Preferred Stock Warrants Shares Weighted– Average Exercise Price Range of Weighted– Average Remaining Life (Years) Total outstanding – March 31, 2019 756,262 $ 1.99 Forfeited (2,000 ) 2.25 Expired — — Granted — — Total outstanding – March 31, 2020 754,262 $ 1.99 Exercisable 746,142 $ 1.99 $ 1.83 – $2.25 4.59 Non-Exercisable 8,120 $ 2.25 $ 2.25 6.48 There were no compensation costs related to outstanding warrants for the nine months ended December 31, 2020 and year ended March 31, 2020. As of December 31, 2020 and March 31, 2020, there was no unrecognized compensation cost related to nonvested warrants. Noncompensatory Equity Classified Warrants In the nine months ended December 31, 2020, as a commitment fee, the Company issued noncompensatory equity classified warrants to an investor for the purchase of 270,478 shares of Company common stock at an exercise price of $1.11 per share. In addition, in July 2020 the Company issued noncompensatory equity classified warrants to an investor for the purchase of 2,700,966 shares of Company common stock at an exercise price of $5.25 per share, and in August 2020 the Company issued noncompensatory equity classified warrants to such investor for the purchase of 1,287,829 shares of Company common stock at an exercise price of $6.00 per share. Lastly, in December 2020, the Company issued noncompensatory equity classified warrants to such investor for the purchase of 1,000,000 shares of Company common stock at an exercise price of $0.01 per share and 2,191,000 shares of Company common stock at an exercise price of $4.07 per share. No noncompensatory equity classified warrants were issued in the year ended March 31, 2020. The following table summarizes the noncompensatory equity classified warrant activity for the nine months ended December 31, 2020: Common Stock Shares Weighted– Average Exercise Price Range of Exercise Price Weighted– Average Remaining Life (Years) Total outstanding – March 31, 2020 — $ — Legacy Ritter warrants 81,455 21.94 Granted 7,450,193 4.18 Exercised (980,198 ) 1.11 Expired (1,673 ) 1,562.50 Forfeited — — Total outstanding – December 31, 2020 6,549,777 $ 4.36 Exercisable 5,707,081 $ 4.40 $ 0.01 – $2,325.00 1.43 Non-Exercisable 842,696 $ 4.07 4.07 3.00

Income Taxes

Income Taxes	9 Months Ended
	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Income Taxes	NOTE 12 — INCOME TAXES A reconciliation of the statutory income tax rates and the Company’s effective tax rate is as follows: December 31, 2020 March 31, 2020 Statutory federal income tax rate 21.0 % 21.0 % State taxes, net of federal tax benefit 2.5 % 2.0 % Non-deductible expenses (0.5 )% (0.2 )% Tax credit (2.8 )% 7.1 % Change in fair value of warrant liability (8.9 )% — % True-up (1.1 )% (7.6 )% Change in valuation allowance (10.3 )% (22.6 )% Income taxes provision (0.1 )% (0.3 )% Income tax expense for the nine months ended December 31, 2020 and year ended March 31, 2020 consisted of the following: December 31, 2020 March 31, 2020 Current Federal $ — $ — State 1,000 4,000 Total current provision 1,000 4,000 Deferred Federal (1,634,000 ) (346,000 ) State (384,000 ) (55,000 ) Total deferred benefit (2,018,000 ) (401,000 ) Change in valuation allowance 2,017,000 401,000 Total provision for income taxes $ — $ 4,000 The components of deferred tax assets and liabilities are as follows: December 31, 2020 March 31, 2020 Deferred tax assets: Net operating loss $ 28,914,000 $ 8,127,000 Research and development credits 5,464,000 2,012,000 Accrued expenses 292,000 348,000 Patent 422,000 — Impairment loss 361,000 — Stock compensation 2,654,000 — Other 84,000 56,000 Total deferred income tax assets 38,191,000 10,543,000 Deferred tax liabilities: Fixed assets 44,000 (9,000 ) Intangible assets (18,000 ) (22,000 ) Total deferred income tax liabilities 26,000 (31,000 ) Net deferred income tax assets 38,217,000 10,512,000 Valuation allowance (38,217,000 ) (10,512,000 ) Net deferred tax asset $ — $ — Based on the available objective evidence, including the Company’s history of cumulative losses, management believes it is likely that the net deferred tax assets will not be realizable. Accordingly, the Company provided for a full valuation allowance against its net deferred tax assets at December 31, 2020 and March 31, 2020. At December 31, 2020, the Company has federal and state net operating loss carryforwards of approximately $111,400,000 and $82,500,000, respectively, which are available to offset future taxable income. Federal and State carryovers began to expire in 2019. As a result of the May 2020 reverse recapitalization an ownership change has occurred. The Company has not completed an Internal Revenue Code Section 382 analysis. As a result, there could be substantial limitations on the Company’s ability to utilize its pre-ownership change net operating loss and tax credit carryforwards. These substantial limitations may result in both a permanent loss of certain tax benefits related to net operating loss carryforwards and federal research and development credits, and an annual utilization limitation. Due to the full valuation allowance already in place, the Company does not anticipate any change in the Company’s effective tax rate. The Company also has research and development credit carryforwards for federal and state tax purposes of approximately $3,800,000 and $1,700,000, respectively. The research and development credit carryforwards began to expire in 2019 for federal tax purposes and have an indefinite life for state tax purposes. The Company files income tax returns in the U.S. federal jurisdiction and in various states. The Company’s federal income tax returns for the years 2016 and beyond remain subject to examination by the Internal Revenue Service. The Company’s California income tax returns for the years 2015 and beyond remain subject to examination by the California Franchise Tax Board. In addition, all of the net operating losses, research and development credit and other tax credit carryforwards that may be used in future years are still subject to adjustment. Generally accepted accounting principles clarify the accounting for uncertainty in income taxes recognized in the Company’s financial statements and prescribe thresholds for financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return, and also provide guidance on de-recognition and measurement of a tax position taken or expected to be taken in a tax return. The Company adopted these provisions effective April 1, 2009. The Company did not have any unrecognized tax benefits as of December 31, 2020 and March 31, 2020 and does not expect this to change significantly over the next 12 months. In accordance with generally accepted accounting principles, the Company will recognize interest and penalties accrued on any unrecognized tax benefits as a component of income tax expense. As of December 31, 2020, the Company has not accrued any interest or penalties related to uncertain tax positions.

Related Party Transactions

Related Party Transactions	9 Months Ended
	Dec. 31, 2020
Related Party Transactions [Abstract]
Related Party Transactions	NOTE 13 — RELATED PARTY TRANSACTIONS In October 2017, Sekisui purchased all outstanding shares of the Company’s Series D and Series D-1 preferred stock from Gen-Probe Incorporated. As such, Sekisui became a related party as of October 2017. These Series D and Series D-1 preferred stock shares were converted into 1,980,233 shares of the Company’s common stock in connection with the reverse recapitalization transaction in May 2020. However, during the nine months ended December 31, 2020, Sekisui ceased to be a related party, so sales to (and costs related to sales to) Sekisui will not be classified as “related party” line items in our 2021 statement of operations. The following are transactions made between the Company and Sekisui as of and for the nine months ended December 31, 2020 and year ended March 31, 2020: ● The Company sells products and provides collaborative research and development (“R&D”) services to Sekisui. As of December 31, 2020 and March 31, 2020, the Company had a receivable from Sekisui of approximately $381,000 and $290,000, respectively. The Company recorded product sales to Sekisui of approximately $1.6 million and $3.4 million for the nine months ended December 31, 2020 and year ended March 31, 2020, respectively. In May 2019, the Company and Sekisui terminated the R&D portion of their distribution and development agreement. There was no collaborative R&D revenue from Sekisui for the nine months ended December 31, 2020 and year ended March 31, 2020. The Company had cost of product sales relating to Sekisui of approximately $1.7 million and $2.5 million for the nine months ended December 31, 2020 and year ended March 31, 2020, respectively. R&D expenses relating to Sekisui were approximately $0 and $525,000 for the nine months ended December 31, 2020 and year ended March 31, 2020, respectively. ● As of December 31, 2020 and March 31, 2020, the Company had approximately $0 and $0.9 million, respectively, classified as due to related party (Sekisui) on the accompanying balance sheets. The Company satisfied the $0.9 million obligation which existed at March 31, 2020 (related to product development financing payments made by Sekisui) by payment in full on July 21, 2020. ● As of December 31, 2020 and March 31, 2020, the Company had approximately $95,000 and $271,000 classified as deferred revenue from Sekisui on the accompanying balance sheets, respectively.

Transition Period Comparative D

Transition Period Comparative Data	9 Months Ended
	Dec. 31, 2020
Transition Period Comparative Data
Transition Period Comparative Data	NOTE 14 — TRANSITION PERIOD COMPARATIVE DATA The following table presents certain comparative transition period financial information for the nine months ended December 31, 2020 and 2019, respectively. Nine Months Ended December 31, 2020 2019 (Unaudited) Revenues $ 2,849,561 $ 4,101,212 Gross profit $ 209,413 $ 1,114,834 Net loss before income taxes $ (19,546,366 ) $ (910,317 ) Net loss $ (19,546,366 ) $ (911,900 ) Net loss per share – basic and fully diluted $ (1.12 ) $ (0.16 ) Weighted average shares used in computing basic and diluted net loss per share 17,431,714 5,602,214

Subsequent Events

Subsequent Events	9 Months Ended
	Dec. 31, 2020
Subsequent Events [Abstract]
Subsequent Events	NOTE 15 — SUBSEQUENT EVENTS In February 2021, the Company extended its sponsored research agreement with ULRF for development of several small-molecule RAS interaction inhibitor drug candidates and increased the amount that the Company will reimburse ULRF for sponsored research expenses from $693,000 to approximately $1.4 million (see Note 10).

Organization and Summary of S_2

Organization and Summary of Significant Accounting Policies and Estimates (Policies)	9 Months Ended
	Dec. 31, 2020
Accounting Policies [Abstract]
Organization	Organization Qualigen, Inc., now a subsidiary of Qualigen Therapeutics, Inc., was incorporated in Minnesota in 1996 to design, develop, manufacture and sell point-of-care quantitative immunoassay diagnostic products for use in physician offices and other point-of-care settings worldwide, and was reincorporated in Delaware in 1999. Qualigen Therapeutics, Inc. (the “Company”) operates in one business segment. In May 2020, Qualigen, Inc. completed a reverse recapitalization transaction with Ritter Pharmaceuticals, Inc. (“Ritter”) and Ritter was renamed Qualigen Therapeutics, Inc., recognized as a reverse recapitalization. All shares of Qualigen, Inc.’s capital stock were exchanged for Qualigen Therapeutics, Inc.’s capital stock in the merger. Ritter/Qualigen Therapeutics common stock, which was previously traded on the Nasdaq Capital Market under the ticker symbol “RTTR,” commenced trading on the Nasdaq Capital Market, on a post-reverse-stock-split adjusted basis, under the trading symbol “QLGN” on May 26, 2020. Qualigen, Inc. was determined to be the accounting acquirer in a reverse recapitalization based upon the terms of the merger and other factors. All references to financial figures of the Company presented in the accompanying consolidated financial statements and in these Notes through May 22, 2020 are to those of Qualigen, Inc. All references to financial figures after May 22, 2020 are to those of Qualigen Therapeutics, Inc. and Qualigen, Inc.
Basis of Presentation	Basis of Presentation The accompanying consolidated financial statements of the Company have been prepared in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”), Regulation S-X and rules and regulations of the Securities and Exchange Commission (“SEC”).
Principles of Consolidation	Principles of Consolidation The accompanying consolidated financial statements include the accounts of the Company and its wholly owned subsidiary. All intercompany balances and transactions have been eliminated in consolidation. Any reference in these notes to applicable guidance is meant to refer to U.S. GAAP. The Company views its operations and manages its business in one operating segment. All long-lived assets of the Company reside in the US.
Accounting Estimates	Accounting Estimates Management uses estimates and assumptions in preparing its consolidated financial statements in accordance with U.S. GAAP. Those estimates and assumptions affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities, and the reported revenues and expenses. The most significant estimates relate to the estimated fair value of warrant liabilities, stock-based compensation, write-off of patents and licenses, amortization and depreciation, inventory reserves, allowances for doubtful accounts and returns, and warranty costs. Actual results could vary from the estimates that were used.
Cash and Cash Equivalents	Cash and Cash Equivalents The Company considers all highly liquid investments purchased with an initial maturity of 90 days or less and money market funds to be cash equivalents. The Company maintains its cash and cash equivalents in bank deposits which at times may exceed federally insured limits. The Company has not experienced any losses in such accounts and believes it is not exposed to any significant credit risks on cash and cash equivalents.
Inventory, Net	Inventory, Net Inventory is recorded at the lower of cost or net realizable value. Cost is determined using the first-in, first-out method. The Company reviews the components of its inventory on a periodic basis for excess or obsolete inventory, and records specific reserves for identified items.
Long-Lived Assets	Long-Lived Assets The Company assesses potential impairments to its long-lived assets when there is evidence that events or changes in circumstances indicate that assets may not be recoverable. An impairment loss would be recognized when the sum of the expected future undiscounted cash flows is less than the carrying amount of the assets. The amount of impairment loss, if any, will generally be measured as the difference between the net book value of the assets and their estimated fair values. During the nine months ended December 31, 2020, the Company recognized $1.4 million of such impairment losses on the construction-in-progress on a FastPack pouch filling machine project. During the year ended March 31, 2020, no such impairment losses were recorded.
Accounts Receivable, Net	Accounts Receivable, Net The Company grants credit to domestic physicians, clinics, and distributors. The Company performs ongoing credit evaluations of its customers and generally requires no collateral. Customers can purchase certain products through a financing agreement that the Company has with an outside leasing company. Under the agreement, the leasing company evaluates the credit worthiness of the customer. Upon acceptance of the product by the customer, the leasing company remits payment to the Company at a discount. This financing arrangement is without recourse to the Company. The Company provides an allowance for doubtful accounts and returns equal to the estimated uncollectible amounts or expected returns. The Company’s estimates are based on historical collections and returns and a review of the current status of trade accounts receivable. Accounts receivable is comprised of the following at: December 31, 2020 March 31, 2020 Accounts Receivable $ 248,823 $ 443,663 Less Allowance (13,873 ) (26,541 ) $ 234,950 $ 417,122
Research and Development	Research and Development The Company expenses research and development costs as incurred including therapeutics license costs.
Shipping and Handling Costs	Shipping and Handling Costs The Company includes shipping and handling fees billed to customers in net sales. Shipping and handling costs associated with inbound and outbound freight are generally recorded in cost of sales; such shipping and handling costs totaled approximately $84,000 and $115,000, respectively, for the nine months ended December 31, 2020 and year ended March 31, 2020. Other shipping and handling costs included in general and administrative, research and development, and sales and marketing expenses totaled approximately $9,000 and $4,000 for the nine months ended December 31, 2020 and year ended March 31, 2020, respectively.
Revenue from Contracts with Customers	Revenue from Contracts with Customers Effective April 1, 2020, the Company adopted Accounting Standards Codification (“ASC”) Topic 606 (“ASC 606”), Revenue from Contracts with Customers The core principle of the new revenue standard is that a company should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods or services. The following five steps are applied to achieve that core principle: Step 1: Identify the contract with the customer Step 2: Identify the performance obligations in the contract Step 3: Determine the transaction price Step 4: Allocate the transaction price to the performance obligations in the contract Step 5: Recognize revenue when the company satisfies a performance obligation The Company generates revenue from selling FastPack System analyzers, accessories and disposable products used with the FastPack System. Disposable products include reagent packs which are diagnostic tests for Total PSA, testosterone, thyroid disorders, pregnancy, and Vitamin D. The Company provides disposable products and equipment in exchange for consideration, which occurs when a customer submits a purchase order and the Company provides disposable products and equipment at the agreed upon prices in the invoice. Generally, customers purchase disposable products using separate purchase orders after the equipment (analyzer) has been provided to the customer. The initial delivery of the equipment and reagent packs represents a single performance obligation and is completed upon receipt by the customer. The delivery of each subsequent individual reagent pack represents a separate performance obligation because the reagent packs are standardized, are not interrelated in any way, and the customer can benefit from each reagent pack without any other product. There are no significant discounts, rebates, returns or other forms of variable consideration. Customers are generally required to pay within 30 days. The performance obligation arising from the delivery of the equipment is satisfied upon the delivery of the equipment to the customer. The disposable products are shipped Free on Board (“FOB”) shipping point. For disposable products that are shipped FOB shipping point, the customer has the significant risks and rewards of ownership and legal title to the assets when the disposable products leave the Company’s shipping facilities, thus the customer obtains control and revenue is recognized at that point in time. The Company has elected the practical expedient and accounting policy election to account for the shipping and handling as activities to fulfil the promise to transfer the disposable products and not as a separate performance obligation. The Company’s contracts with customers generally have an expected duration of one year or less, and therefore the Company has elected the practical expedient in ASC 606 to not disclose information about its remaining performance obligations. Any incremental costs to obtain contracts are recorded as selling, general and administrative expense as incurred due to the short duration of the Company’s contracts. Contract balances The timing of the Company’s revenue recognition may differ from the timing of payment by the Company’s customers. The Company records a receivable when revenue is recognized prior to payment and there is an unconditional right to payment. Alternatively, when payment precedes the provision of the related services, the Company records deferred revenue until the performance obligations are satisfied. Prior to the adoption of ASC 606, the Company accounted for its revenue arrangements under ASC 605, Revenue Recognition Revenues from product sales which included both the Company’s proprietary diagnostic equipment (“analyzer”) and various immunoassay products (“reagents”) were generally recognized upon shipment, as no significant continuing performance obligations remained post shipment. Cash payments received in advance were classified as deferred revenue and recorded as a liability. The Company was generally not contractually obligated to accept returns, except for defective products. Revenue was recorded net of an allowance for estimated returns. Multiple element arrangements included contracts that combined both the Company’s analyzer and a customer’s future reagent purchases under a single contract. In some sales contracts, the Company provided analyzers at no charge to customers. Title to the analyzer was maintained by the Company and the analyzer was returned by the customer to the Company at the end of the purchase agreement. During the nine months ended December 31, 2020 and year ended March 31, 2020, product sales are stated net of an allowance for estimated returns of approximately $1,000 and $19,000, respectively.
Deferred Revenue	Deferred Revenue Prior to the adoption of ASC 606, payments received in advance from customers pursuant to certain collaborative research license agreements, deposits against future product sales, multiple element arrangements and extended warranties are recorded as a current or non-current deferred revenue liability based on the time from the balance sheet date to the future date of revenue recognition.
Research and Licenses	Research and Licenses Prior to the adoption of ASC 606, the Company recognized research revenue over the term of various agreements, as negotiated contracted amounts were earned or reimbursable costs were incurred related to those agreements. Negotiated contracted amounts were earned in relative proportion to the performance required under the applicable contracts. Nonrefundable license fees were recognized over the related performance period or at the time that the Company had satisfied all performance obligations. Any amounts received prior to satisfying these revenue recognition criteria were recorded as deferred revenue. During the nine months ended December 31, 2020, the Company recognized no collaborative research revenue, and during the year ended March 31, 2020 the Company recognized $85,000 in collaborative research revenue.
Operating Leases	Operating Leases Effective April 1, 2020, the Company adopted Accounting Standard Update (“ASU”) No. 2018-11, Leases (Topic 842) Targeted Improvements The Company’s leases typically contain rent escalations over the lease term. The Company recognizes expense for these leases on a straight-line basis over the lease term. Additionally, tenant incentives used to fund leasehold improvements are recognized when earned and reduce the Company’s right-of-use (“ROU”) asset related to the lease. These are amortized through the ROU asset as reductions of expense over the lease term. The Company’s office/manufacturing/warehouse/laboratory lease agreement does not contain any material residual value guarantees or material restrictive covenants. The Company has no lease agreements with lease and non-lease components. Related to the adoption of Topic 842, the Company’s policy elections were as follows: ● The Company has used the practical expedients under U.S. GAAP which allow it to not reassess whether any expired or existing contracts are considered a lease, along with grandfathering lease classifications, and treatment of indirect costs; ● The Company has elected to exclude short-term leases having initial terms of 12 months or less; ● The Company has elected not to separate non-lease components from its leases to account for them separately; ● The Company has elected not to avail itself of the practical expedient of using hindsight to determine the lease term; and ● The Company has elected the alternative transition option, by recognizing a cumulative effect adjustment to the opening balance of accumulated deficit in the period of adoption (as of April 1, 2020, the adoption of Topic 842 did not have a material effect on retained earnings).
Property and Equipment, Net	Property and Equipment, Net Property and equipment are stated at cost and are presented net of accumulated depreciation. Depreciation is provided for on a straight-line basis over the estimated useful lives of the related assets as follows: Machinery and equipment 5 years Computer equipment 3 years Molds and tooling 5 years Office furniture and equipment 5 years Leasehold improvements are amortized on a straight-line basis over the shorter of the lease term or their estimated useful lives. The Company occasionally designs and builds its own machinery. The costs of these projects, which includes the cost of construction and other direct costs attributable to the construction, are capitalized as construction in progress. No provision for depreciation is made on construction in progress until the relevant assets are completed and placed in service. The Company’s policy is to evaluate the remaining lives and recoverability of long-term assets on at least an annual basis or when conditions are present that indicate impairment.
Intangible Assets, Net	Intangible Assets, Net Intangibles consist of patent-related costs and costs for license agreements. Management reviews the carrying value of intangible assets that are being amortized on an annual basis or sooner when there is evidence that events or changes in circumstances may indicate that impairment exists. The Company considers relevant cash flow and profitability information, including estimated future operating results, trends and other available information, in assessing whether the carrying value of intangible assets being amortized can be recovered. If the Company determines that the carrying value of intangible assets will not be recovered from the undiscounted future cash flows expected to result from the use and eventual disposition of the underlying assets, the Company considers the carrying value of such intangible assets as impaired and reduces them by a charge to operations in the amount of the impairment. Costs related to acquiring patents and licenses are capitalized and amortized over their estimated useful lives, which is generally 5 to 17 years, using the straight-line method. Amortization of patents and licenses commences once final approval of the patent has been obtained. Patent and licenses costs are charged to operations if it is determined that the patent will not be obtained. The carrying value of the patents of approximately $169,000 and $422,000 at December 31, 2020 and March 31, 2020, respectively, are stated net of accumulated amortization of approximately $303,000 and $293,000, respectively. Amortization of patents charged to operations for the nine months ended December 31, 2020 and year ended March 31, 2020 were approximately $10,000 and $13,000, respectively. Total future estimated amortization of patent costs for the five succeeding years is approximately $14,000 for the year ending December 31, 2021, approximately $15,000 for each of the years ending December 31, 2022 through 2023, approximately $14,000 for year 2024, approximately $11,000 for year 2025 and approximately $100,000 thereafter. The carrying value of the licenses of approximately $19,000 and $149,000 at December 31, 2020 and March 31, 2020 are stated net of accumulated amortization of approximately $400,000 and $395,000, respectively. Amortization of licenses charged to operations for the nine months ended December 31, 2020 and year ended March 31, 2020 was approximately $5,000, and $7,000, respectively. Total future estimated amortization of license costs for the five succeeding years is approximately $4,000 for each of the years ending December 31, 2021 through 2025.
Derivative Financial Instruments and Warrant Liabilities	Derivative Financial Instruments and Warrant Liabilities The Company does not use derivative instruments to hedge exposures to cash flow, market, or foreign currency risks. The Company evaluates all of its financial instruments, including issued stock purchase warrants, to determine if such instruments are derivatives or contain features that qualify as embedded derivatives. For derivative financial instruments that are accounted for as liabilities, the derivative instrument is initially recorded at its fair value and is then re-valued at each reporting date, with changes in the fair value reported in the Consolidated Statements of Operations. Depending on the features of the derivative financial instrument, the Company uses either the Black-Scholes option-pricing model or a Monte-Carlo simulation to value the derivative instruments at inception and subsequent valuation dates. The classification of derivative instruments, including whether such instruments should be recorded as liabilities or as equity, is re-assessed at the end of each reporting period (See Note 8).
Fair Value Measurements	Fair value measurements ● Level 1 - Inputs that reflect unadjusted quoted prices in active markets for identical assets or liabilities that we have the ability to access at the measurement date; ● Level 2 - Inputs other than quoted prices that are observable for the assets or liability either directly or indirectly, including inputs in markets that are not considered to be active; and ● Level 3 - Inputs that are unobservable.
Fair Value of Financial Instruments	Fair Value of Financial Instruments Cash and cash equivalents, accounts receivable, accounts payable, accrued liabilities, and debt are carried at cost, which management believes approximates fair value due to the short-term nature of these instruments.
Stock-Based Compensation	Stock-Based Compensation Stock-based compensation cost for equity awards granted to employees and non-employees is measured at the grant date based on the calculated fair value of the award using the Black-Scholes option-pricing model, and is recognized as an expense, under the straight-line method, over the requisite service period (generally the vesting period of the equity grant). If the Company determines that other methods are more reasonable, or other methods for calculating these assumptions are prescribed by regulators, the fair value calculated for the Company’s stock options could change significantly. Higher volatility and longer expected lives would result in an increase to stock-based compensation expense to employees and non-employees determined at the date of grant.
Income Taxes	Income Taxes Deferred income taxes are recognized for temporary differences in the basis of assets and liabilities for financial statement and income tax reporting that arise due to net operating loss carry forwards, research and development credit carry forwards and from using different methods and periods to calculate depreciation and amortization, allowance for doubtful accounts, accrued vacation, research and development expenses, and state taxes. A provision has been made for income taxes due on taxable income and for the deferred taxes on the temporary differences. The components of the deferred tax asset and liability are individually classified as current and noncurrent based on their characteristics. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the date of enactment. Realization of the deferred income tax asset is dependent on generating sufficient taxable income in future years.
Sales and Excise Taxes	Sales and Excise Taxes Sales and other taxes collected from customers and subsequently remitted to government authorities are recorded as accounts receivable with corresponding tax payable. These balances are removed from the balance sheet as cash is collected from customers and remitted to the tax authority.
Warranty Costs	Warranty Costs The Company’s warranty policy generally provides for one year of coverage against defects and nonperformance within published specifications for sold analyzers and for the term of the contract for equipment held for lease. The Company accrues for estimated warranty costs in the period in which the revenue is recognized based on historical data and the Company’s best estimates of analyzer failure rates and costs to repair. Accrued warranty liabilities were approximately $25,000 and $30,000, respectively, at December 31, 2020 and March 31, 2020 and are included in accrued expenses and other current liabilities on the balance sheets. Warranty costs were approximately $54,000 and $57,000 for the nine months ended December 31, 2020 and year ended March 31, 2020, respectively, and are included in cost of product sales in the statements of operations.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In June 2016, the Financial Accounting Standards Board (“FASB”) issued ASU No. 2016-13, Measurement of Credit Losses on Financial Instruments Financial Instruments – Credit Losses (Topic 326), Derivatives and Hedging (Topic 815) Leases (Topic 842) In August 2020, the FASB issued ASU No. 2020-06, “ Debt—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 In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers Topic 606 (“ ”) In July 2018, the FASB issued ASU No. 2018-11, Leases (Topic 842) Targeted Improvements In August 2018, the FASB issued ASU No. 2018-13, “ Fair Value Measurement (Topic 820): Disclosure Framework — Changes to the Disclosure Requirements for Fair Value Measurement, Other accounting standard updates are either not applicable to the Company or are not expected to have a material impact on the Company’s consolidated financial statements.

Organization and Summary of S_3

Organization and Summary of Significant Accounting Policies and Estimates (Tables)	9 Months Ended
	Dec. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Accounts Receivable	Accounts receivable is comprised of the following at: December 31, 2020 March 31, 2020 Accounts Receivable $ 248,823 $ 443,663 Less Allowance (13,873 ) (26,541 ) $ 234,950 $ 417,122
Schedule of Useful Lives of Property and Equipment	Depreciation is provided for on a straight-line basis over the estimated useful lives of the related assets as follows: Machinery and equipment 5 years Computer equipment 3 years Molds and tooling 5 years Office furniture and equipment 5 years

Inventory, Net (Tables)

Inventory, Net (Tables)	9 Months Ended
	Dec. 31, 2020
Inventory Disclosure [Abstract]
Schedule of Inventory	Inventory, net consisted of the following at December 31, 2020 and March 31, 2020: December 31, 2020 March 31, 2020 Raw materials $ 579,765 $ 457,425 Work in process 309,826 117,729 Finished goods 63,867 84,984 $ 953,458 $ 660,138

Prepaid Expenses (Tables)

Prepaid Expenses (Tables)	9 Months Ended
	Dec. 31, 2020
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Schedule of Prepaid Expenses	Prepaid expenses consisted of the following at December 31, 2020 and March 31, 2020: December 31, 2020 March 31, 2020 Prepaid insurance $ 1,307,864 $ 26,981 Prepaid manufacturing expenses 1,181,029 34,078 Prepaid investor relations expenses 150,000 — Other prepaid expenses 40,001 37,326 $ 2,678,894 $ 98,385

Property and Equipment, Net (Ta

Property and Equipment, Net (Tables)	9 Months Ended
	Dec. 31, 2020
Property, Plant and Equipment [Abstract]
Schedule of Property and Equipment	Property and equipment, net consisted of the following at December 31, 2020 and March 31, 2020: December 31, 2020 March 31, 2020 Machinery and equipment $ 2,401,470 $ 2,355,165 Construction in progress–equipment 104,400 1,376,000 Computer equipment 443,865 420,552 Leasehold improvements 321,033 307,539 Molds and tooling 260,002 260,002 Office furniture and equipment 138,699 136,275 3,669,469 4,855,533 Less Accumulated depreciation (3,422,146 ) (3,408,019 ) $ 247,323 $ 1,447,514

Accrued Expenses and Other Cu_2

Accrued Expenses and Other Current Liabilities (Tables)	9 Months Ended
	Dec. 31, 2020
Payables and Accruals [Abstract]
Schedule of Accrued Expenses and Other Current Liabilities	Accrued expenses and other current liabilities consisted of the following at December 31, 2020 and March 31, 2020: December 31, 2020 March 31, 2020 Board compensation $ 15,091 $ — Vacation 230,457 160,024 Royalties 491 26,099 Research and development 237,504 288,184 Professional fees 58,261 277,900 Deferred rent — 77,597 Warranty costs 24,871 30,119 Payroll 4,566 35,052 Patent and license fees 7,204 51,007 Sales and use taxes 30,353 16,755 Income taxes 3,326 8,100 Interest — 247,569 Other 134,614 25,358 $ 746,738 $ 1,243,764

Notes Payable (Tables)

Notes Payable (Tables)	9 Months Ended
	Dec. 31, 2020
Debt Disclosure [Abstract]
Schedule of Notes Payable	Notes payable consisted of the following at December 31, 2020 and March 31, 2020: December 31, 2020 March 31, 2020 Insurance Financing Agreement with a finance company, monthly payments of $119,943 including interest of 4.54% per annum; secured by an insurance policy; due January 2021 $ 119,491 $ — Equipment Financing Agreement with a bank, monthly payments of $720 including imputed interest at 6.95% per annum; secured by laboratory equipment; due October 2022 14,826 20,370 Equipment Financing Agreement with a bank, monthly payments of $596 including imputed interest at 6.590% per annum; secured by manufacturing equipment; due July 2021 4,422 9,441 A Factoring and Security Agreement for up to $2,000,000 with a bank, interest at Prime plus 2% of the amount of advances outstanding and a factoring fee of 0.01% per day of the face amount of each invoice for each calendar day that a factored invoice is outstanding — 489,051 An unsecured convertible note with an investor including interest at 10% per annum; due September 2019, which was extended by the noteholder until May 2020 — 1,000,000 A series of unsecured convertible bridge notes with investors, including interest of 8% per annum; due between June 2020 and February 2021 — 410,000 A series of unsecured convertible bridge notes with investors, including interest of 8% per annum; due between January and February 2022 — 290,198 138,739 2,219,060 Less current portion, net of debt issuance costs (131,766 ) (1,913,255 ) Notes Payable, net of current portion $ 6,973 $ 305,805
Schedule of Future Maturities of Notes Payable	Future maturities of notes payable are as follows as of December 31, 2020: Year Ending December 31, Amount 2021 $ 131,766 2022 6,973 Total balance $ 138,739

Warrant Liabilities (Tables)

Warrant Liabilities (Tables)	9 Months Ended
	Dec. 31, 2020
Warrant Liabilities
Schedule of Warrants Activity	The following table summarizes the activity in the warrants received in exchange for the Series C Warrants for the nine months ended December 31, 2020: Common Stock Warrants (received in exchange for the Shares Weighted– Average Exercise Price Range of Exercise Price Weighted– Average Remaining Life (Years) Total outstanding – March 31, 2020 — $ — Series C preferred stock warrants exchanged for common stock warrants upon reverse recapitalization 4,713,490 0.72 Exercised (1,334,894 ) 0.72 Forfeited — — Expired — — Granted — — Total outstanding – December 31, 2020 3,378,596 $ 0.72 Exercisable 3,378,596 $ 0.72 $ 0.72 3.02 Non-Exercisable — $ — $ — — The following table summarizes the Series C Warrants activity for the year ended March 31, 2020: Series C Preferred Stock Warrants Shares Weighted– Average Exercise Price Range of Exercise Price Weighted– Average Remaining Life (Years) Total outstanding – March 31, 2019 1,441,180 $ 2.35 Forfeited — — Expired — — Granted — — Total outstanding – March 31, 2020 1,441,180 $ 2.35 Exercisable 1,441,180 $ 2.35 $ 2.25 – $2.70 4.85 Non-Exercisable — $ — $ — — The following table summarizes the Series C Warrants activity for the nine months ended December 31, 2020: Series C Preferred Stock Warrants Shares Weighted– Average Exercise Price Range of Exercise Price Weighted– Average Remaining Life (Years) Total outstanding – March 31, 2020 1,441,180 $ 2.35 $ 2.25 – $2.70 4.85 Series C preferred stock warrants exchanged for common stock warrants upon reverse recapitalization (1,441,180 ) 2.35 Total outstanding – December 31, 2020 — $ — — —
Schedule of Fair Value Hierarchy for Warrant Liabilities	The following table presents the Company’s fair value hierarchy for its warrant liabilities (all of which arise under the warrants received in exchange for the Series C Warrants) measured at fair value on a recurring basis as of December 31, 2020: Quoted Market Significant Prices for Other Significant Identical Observable Unobservable Assets Inputs Inputs Warrant liabilities (Level 1) (Level 2) (Level 3) Total Balance as of December 31, 2020 $ - $ - $ 8,310,100 $ 8,310,100
Schedule of Assumptions of Warrant Liabilities	The following are the weighted average and the range of assumptions used in estimating the fair value of warrant liabilities (weighted average calculated based on the number of outstanding warrants on each issuance) as of December 31, 2020: December 31, 2020 Range Weighted Average Risk-free interest rate 0.17% — 0.22 % 0.18 % Expected volatility (peer group) 82.00 % 82.00 % Term of warrants (in years) 2.90 — 3.49 3.02 Expected dividend yield 0.00 % 0.00 %

Leases (Tables)

Leases (Tables)	9 Months Ended
	Dec. 31, 2020
Leases [Abstract]
Schedule of Operating Lease Right of Use Assets and Operating Lease Liabilities	The tables below show the operating lease right-of-use assets and operating lease liabilities as of initial measurement at April 1, 2020 and the balances as of December 31, 2020, including the changes during the periods: Operating lease Initial measurement at April 1, 2020: $ 663,110 Less deferred rent allowance (77,597 ) Net right-of-use assets at April 1, 2020 585,513 Less amortization of operating lease right-of-use assets (154,718 ) Operating lease right-of-use assets at December 31, 2020 $ 430,795 Operating lease liabilities Initial measurement at April 1, 2020: $ 663,110 Less principal payments on operating lease liabilities (171,545 ) Operating lease liabilities at December 31, 2020 491,565 Less non-current portion 236,826 Current portion at December 31, 2020 $ 254,739
Schedule of Maturities of Operating Lease Liabilities	As of December 31, 2020, the maturities of operating lease liabilities are as follows: Year Ending December 31, Amount 2021 $ 288,355 2022 246,650 Total 535,005 Less present value discount (43,440 ) Operating lease liabilities $ 491,565

Stockholders' Equity (Deficit)

Stockholders' Equity (Deficit) (Tables)	9 Months Ended
	Dec. 31, 2020
Schedule of Reserved Shares	At December 31, 2020, shares were reserved in connection with the following: Exercise of issued and future grants of stock options 4,011,356 Exercise of stock warrants 11,222,590 Conversion of Series Alpha preferred stock 243,418 Total 15,477,364
Summary of Stock Option Activity	The following represents a summary of the options granted to employees and non-employee service providers that are outstanding at December 31, 2020, and changes during the nine months then ended: Shares Weighted– Average Exercise Price Range of Exercise Price Weighted– Average Remaining Life (Years) Total outstanding – March 31, 2020 — $ — Legacy Ritter options 95,124 92.80 $ 5.75—$1,465.75 1.39 Granted 3,917,500 4.97 $ 3.52—$5.13 9.46 Expired (1,268 ) 34.54 $ 15.00 — 562.50 Forfeited — — Total outstanding – December 31, 2020 4,011,356 $ 7.05 $ 3.52—$1,465.75 9.29 Exercisable (vested) 108,856 $ 81.38 $ 3.52—$1,465.75 2.50 Non-Exercisable (non-vested) 3,902,500 $ 4.97 $ 3.52—$5.13 9.47
Schedule of Assumptions Used in Black-Scholes Option-Pricing Method	The material factors incorporated in the Black-Scholes model in estimating the fair value of the options granted for the periods presented were as follows: For the nine months ended December 31, 2020 Expected dividend yield 0.00 % Expected stock-price volatility 102 % Risk-free interest rate 0.33% — 0.65 % Expected average term of options (in years) 6.0 Stock price $ 3.52 — 5.13
Schedule of Share-based Compensation Expense	The Company recorded stock-based compensation expense and classified it in the consolidated statements of operations as follows: For the nine months ended December 31, 2020 For the year ended March 31, 2020 General and administrative $ 2,388,380 $ 4,830 Research and development 412,471 3,036 Total $ 2,800,851 $ 7,866
Compensatory Warrant Activity [Member]
Summary of Warrant Activity	The following table summarizes the equity classified compensatory warrant activity for the nine months ended December 31, 2020: Common Stock Shares Weighted– Average Exercise Price Range of Weighted– Average Remaining Life (Years) Total outstanding – March 31, 2020 — $ — Series C preferred stock compensatory warrants exchanged for common stock warrants upon reverse recapitalization 668,024 2.25 Granted to advisor and its designees 811,431 1.11 Exercised (159,978 ) 1.26 Expired — — Forfeited (25,260 ) 2.07 Total outstanding – December 31, 2020 1,294,217 $ 1.6670 Exercisable 1,290,621 $ 1.66 $ 1.11 —$2.54 4.17 Non-Exercisable 3,596 $ 2.54 $ 2.54 5.72 The following table summarizes the compensatory warrant activity for the year ended March 31, 2020: Series C Preferred Stock Warrants Shares Weighted– Average Exercise Price Range of Weighted– Average Remaining Life (Years) Total outstanding – March 31, 2019 756,262 $ 1.99 Forfeited (2,000 ) 2.25 Expired — — Granted — — Total outstanding – March 31, 2020 754,262 $ 1.99 Exercisable 746,142 $ 1.99 $ 1.83 – $2.25 4.59 Non-Exercisable 8,120 $ 2.25 $ 2.25 6.48
Non-Compensatory Warrant Activity [Member]
Summary of Warrant Activity	The following table summarizes the noncompensatory equity classified warrant activity for the nine months ended December 31, 2020: Common Stock Shares Weighted– Average Exercise Price Range of Exercise Price Weighted– Average Remaining Life (Years) Total outstanding – March 31, 2020 — $ — Legacy Ritter warrants 81,455 21.94 Granted 7,450,193 4.18 Exercised (980,198 ) 1.11 Expired (1,673 ) 1,562.50 Forfeited — — Total outstanding – December 31, 2020 6,549,777 $ 4.36 Exercisable 5,707,081 $ 4.40 $ 0.01 – $2,325.00 1.43 Non-Exercisable 842,696 $ 4.07 4.07 3.00

Income Taxes (Tables)

Income Taxes (Tables)	9 Months Ended
	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Schedule of Reconciliation of Statutory Income Tax Rate	A reconciliation of the statutory income tax rates and the Company’s effective tax rate is as follows: December 31, 2020 March 31, 2020 Statutory federal income tax rate 21.0 % 21.0 % State taxes, net of federal tax benefit 2.5 % 2.0 % Non-deductible expenses (0.5 )% (0.2 )% Tax credit (2.8 )% 7.1 % Change in fair value of warrant liability (8.9 )% — % True-up (1.1 )% (7.6 )% Change in valuation allowance (10.3 )% (22.6 )% Income taxes provision (0.1 )% (0.3 )%
Schedule of Income Tax Expense	Income tax expense for the nine months ended December 31, 2020 and year ended March 31, 2020 consisted of the following: December 31, 2020 March 31, 2020 Current Federal $ — $ — State 1,000 4,000 Total current provision 1,000 4,000 Deferred Federal (1,634,000 ) (346,000 ) State (384,000 ) (55,000 ) Total deferred benefit (2,018,000 ) (401,000 ) Change in valuation allowance 2,017,000 401,000 Total provision for income taxes $ — $ 4,000
Schedule of Deferred Tax Assets	The components of deferred tax assets and liabilities are as follows: December 31, 2020 March 31, 2020 Deferred tax assets: Net operating loss $ 28,914,000 $ 8,127,000 Research and development credits 5,464,000 2,012,000 Accrued expenses 292,000 348,000 Patent 422,000 — Impairment loss 361,000 — Stock compensation 2,654,000 — Other 84,000 56,000 Total deferred income tax assets 38,191,000 10,543,000 Deferred tax liabilities: Fixed assets 44,000 (9,000 ) Intangible assets (18,000 ) (22,000 ) Total deferred income tax liabilities 26,000 (31,000 ) Net deferred income tax assets 38,217,000 10,512,000 Valuation allowance (38,217,000 ) (10,512,000 ) Net deferred tax asset $ — $ —

Transition Period Comparative_2

Transition Period Comparative Data (Tables)	9 Months Ended
	Dec. 31, 2020
Transition Period Comparative Data
Schedule of Comparative Transition Period Financial Information	The following table presents certain comparative transition period financial information for the nine months ended December 31, 2020 and 2019, respectively. Nine Months Ended December 31, 2020 2019 (Unaudited) Revenues $ 2,849,561 $ 4,101,212 Gross profit $ 209,413 $ 1,114,834 Net loss before income taxes $ (19,546,366 ) $ (910,317 ) Net loss $ (19,546,366 ) $ (911,900 ) Net loss per share – basic and fully diluted $ (1.12 ) $ (0.16 ) Weighted average shares used in computing basic and diluted net loss per share 17,431,714 5,602,214

Organization and Summary of S_4

Organization and Summary of Significant Accounting Policies and Estimates (Details Narrative) - USD ($)	9 Months Ended		12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Mar. 31, 2020
Long-lived assets impairment losses	$ 1,376,000
Estimated returns net of allowances	1,000		19,000
Revenues	2,849,561	$ 4,101,212	5,557,967
Accrued liabilities	746,738		1,243,764
Warrant [Member]
Accrued liabilities	25,000		30,000
Warranty costs	$ 54,000		57,000
Patents and Licenses [Member] | Minimum [Member]
Estimated useful lives	5 years
Patents and Licenses [Member] | Maximum [Member]
Estimated useful lives	17 years
Patents [Member]
Carrying value	$ 169,000		422,000
Accumulated amortization	303,000		293,000
Amortization expense	10,000		13,000
Future estimated amortization for year ending December 31, 2021			14,000
Future estimated amortization for year ending December 31, 2022			15,000
Future estimated amortization for year ending December 31, 2023			15,000
Future estimated amortization for year ending December 31, 2024			14,000
Future estimated amortization for year ending December 31, 2025			11,000
Future estimated amortization thereafter			100,000
License [Member]
Carrying value	19,000		149,000
Accumulated amortization	400,000		395,000
Future estimated amortization for year ending December 31, 2021			4,000
Future estimated amortization for year ending December 31, 2022			4,000
Future estimated amortization for year ending December 31, 2023			4,000
Future estimated amortization for year ending December 31, 2024			4,000
Future estimated amortization for year ending December 31, 2025			4,000
Future estimated amortization thereafter			4,000
Shipping and Handling [Member]
Shipping and handling costs	84,000		115,000
Shipping and Handling [Member] | General, Administrative, Research and Development Expense [Member]
Shipping and handling costs	9,000		4,000
Collaborative Research Revenue [Member]
Revenues			$ 85,000

Organization and Summary of S_5

Organization and Summary of Significant Accounting Policies and Estimates - Schedule of Accounts Receivable (Details) - USD ($)	Dec. 31, 2020	Mar. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Accounts Receivable	$ 248,823	$ 443,663
Less Allowance	(13,873)	(26,541)
Accounts receivable, net	$ 234,950	$ 417,122

Organization and Summary of S_6

Organization and Summary of Significant Accounting Policies and Estimates - Schedule of Useful Lives of Property and Equipment (Details)	9 Months Ended
	Dec. 31, 2020
Machinery and Equipment [Member]
Property and equipment, useful life	5 years
Computer Equipment [Member]
Property and equipment, useful life	3 years
Molds and Tooling [Member]
Property and equipment, useful life	5 years
Office Furniture and Equipment [Member]
Property and equipment, useful life	5 years

Liquidity (Details Narrative)

Liquidity (Details Narrative) - USD ($)	1 Months Ended
	Dec. 31, 2020	May 31, 2020
New equity capital raise		$ 4,000,000
Convertible notes payable	$ 1,900,000
Securities Purchase Agreement [Member] | Investor [Member]
Proceeds from sale of equity	$ 30,000,000

Inventory, Net - Schedule of In

Inventory, Net - Schedule of Inventory (Details) - USD ($)	Dec. 31, 2020	Mar. 31, 2020
Inventory Disclosure [Abstract]
Raw materials	$ 579,765	$ 457,425
Work in process	309,826	117,729
Finished goods	63,867	84,984
Inventory net	$ 953,458	$ 660,138

Prepaid Expenses And Other Curr

Prepaid Expenses And Other Current Assets - Schedule of Prepaid Expenses and Other Current Assets (Details) - USD ($)	Dec. 31, 2020	Mar. 31, 2020
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Prepaid insurance	$ 1,307,864	$ 26,981
Prepaid manufacturing expenses	1,181,029	34,078
Prepaid investor relations expenses	150,000
Other prepaid expenses	40,001	37,326
Prepaid expenses and other current assets	$ 2,678,894	$ 98,385

Property and Equipment, Net (De

Property and Equipment, Net (Details Narrative) - USD ($)	9 Months Ended	12 Months Ended
	Dec. 31, 2020	Mar. 31, 2020
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 33,000	$ 61,000

Property and Equipment, Net - S

Property and Equipment, Net - Schedule of Property and Equipment (Details) - USD ($)	Dec. 31, 2020	Mar. 31, 2020
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 3,669,469	$ 4,855,533
Less Accumulated depreciation	(3,422,146)	(3,408,019)
Property and equipment, net	247,323	1,447,514
Machinery and Equipment [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	2,401,470	2,355,165
Construction in Progress Equipment [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	104,400	1,376,000
Computer Equipment [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	443,865	420,552
Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	321,033	307,539
Molds and Tooling [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	260,002	260,002
Office Furniture and Equipment [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 138,699	$ 136,275

Accrued Expenses and Other Cu_3

Accrued Expenses and Other Current Liabilities - Schedule of Accrued Expenses and Other Current Liabilities (Details) - USD ($)	Dec. 31, 2020	Mar. 31, 2020
Payables and Accruals [Abstract]
Board compensation	$ 15,091
Vacation	230,457	160,024
Royalties	491	26,099
Research and development	237,504	288,184
Professional fees	58,261	277,900
Deferred rent		77,597
Warranty costs	24,871	30,119
Payroll	4,566	35,052
Patent and license fees	7,204	51,007
Sales and use taxes	30,353	16,755
Income taxes	3,326	8,100
Interest		247,569
Other	134,614	25,358
Accrued expenses and other current liabilities	$ 746,738	$ 1,243,764

Notes Payable - Schedule of Not

Notes Payable - Schedule of Notes Payable (Details) - USD ($)	Dec. 31, 2020	Mar. 31, 2020
Long term debt	$ 138,739	$ 2,219,060
Less current portion, net of debt issuance costs	(131,766)	(1,913,255)
Notes Payable, net of current portion	6,973	305,805
Unsecured Convertible Note [Member] | Investor [Member]
Long term debt		1,000,000
Unsecured Convertible Bridge Notes [Member] | Investor [Member]
Long term debt		410,000
Unsecured Convertible Bridge Notes One [Member] | Investor [Member]
Long term debt		290,198
Insurance Financing Agreement [Member] | Finance Company [Member]
Long term debt	119,491
Equipment Financing Agreement [Member] | Bank [Member]
Long term debt	14,826	20,370
Equipment Financing Agreement One [Member] | Bank [Member]
Long term debt	4,422	9,441
Factoring and Security Agreement [Member] | Bank [Member]
Long term debt		$ 489,051

Notes Payable - Schedule of N_2

Notes Payable - Schedule of Notes Payable (Details) (Parenthetical) - USD ($)	9 Months Ended	12 Months Ended
	Dec. 31, 2020	Mar. 31, 2020
Unsecured Convertible Note [Member] | Investor [Member]
Debt interest rate		10.00%
Debt instrument maturity date description		due September 2019
Unsecured Convertible Bridge Notes [Member] | Investor [Member]
Debt interest rate		8.00%
Debt instrument maturity date description		due between June 2020 and February 2021
Unsecured Convertible Bridge Notes One [Member] | Investor [Member]
Debt interest rate		8.00%
Debt instrument maturity date description		due between January and February 2022
Insurance Financing Agreement [Member] | Finance Company [Member]
Debt monthly payments	$ 119,943
Debt interest rate	4.54%
Debt instrument maturity date description	due January 2021
Equipment Financing Agreement [Member] | Bank [Member]
Debt monthly payments	$ 720	$ 720
Debt interest rate	6.95%	6.95%
Debt instrument maturity date description	due October 2022	due October 2022
Factoring and Security Agreement [Member] | Bank [Member]
Debt interest rate	2.00%	2.00%
Debt instrument, face amount	$ 2,000,000	$ 2,000,000
Percentage of factoring fee	0.01%	0.01%
Equipment Financing Agreement One [Member] | Bank [Member]
Debt monthly payments	$ 596	$ 596
Debt interest rate	6.59%	6.59%
Debt instrument maturity date description	due July 2021	due July 2021

Notes Payable - Schedule of Fut

Notes Payable - Schedule of Future Maturities of Notes Payable (Details) - USD ($)	Dec. 31, 2020	Mar. 31, 2020
Debt Disclosure [Abstract]
2021	$ 131,766
2022	6,973
Total balance	$ 138,739	$ 2,219,060

Warrant Liabilities (Details Na

Warrant Liabilities (Details Narrative)	Dec. 31, 2020$ / sharesshares
Warrants exercise	$ 0.72
Series C Warrants [Member]
Warrants to purchase common stock | shares	4,713,490
Warrants exercise	$ 0.72
Series C Warrants [Member] | Minimum [Member]
Warrants term	2 years 10 months 25 days
Series C Warrants [Member] | Maximum [Member]
Warrants term	5 years

Warrant Liabilities - Schedule

Warrant Liabilities - Schedule of Warrants Activity (Details) - USD ($)	9 Months Ended	12 Months Ended
	Dec. 31, 2020	Mar. 31, 2020
Common Stock Warrant [Member]
Number of Shares, Warrants Outstanding Beginning
Number of Shares, Warrants Series C preferred stock warrants exchanged for common stock warrants upon reverse merger	$ 4,713,490
Number of Shares, Warrants Exercised	(1,334,894)
Number of Shares, Warrants Forfeited
Number of Shares, Warrants Expired
Number of Shares, Warrants Granted
Number of Shares, Warrants Outstanding Ending	3,378,596
Number of Shares, Warrants Exercisable	3,378,596
Number of shares, warrants non-exercisable
Weighted Average Exercise Price Per Share Warrants Outstanding Beginning
Weighted Average Exercise Price Per Share Warrants Series C Preferred Stock Warrants Exchanged For Common Stock Warrants Upon Reverse Merger	0.72
Weighted Average Exercise Price Per Share Warrants Exercised	0.72
Weighted Average Exercise Price Per Share Warrants Forfeited
Weighted Average Exercise Price Per Share Warrants Expired
Weighted Average Exercise Price Per Share Warrants Granted
Weighted Average Exercise Price Per Share Warrants Outstanding Ending	0.72
Weighted Average Exercise Price Per Share Exercisable	0.72
Weighted Average Exercise Price Per Share Non-Exercisable	0.72
Range of Exercise Price, Exercisable	0.72
Range of Exercise Price, Non-Exercisable
Weighted Average Remaining Life (Years) Exercisable	3 years 7 days
Weighted Average Remaining Life (Years) Non-Exercisable	0 years
Common Stock Warrant [Member] | Series C Warrants [Member]
Number of Shares, Warrants Outstanding Beginning	1,441,180	1,441,180
Number of Shares, Warrants Series C preferred stock warrants exchanged for common stock warrants upon reverse merger	$ (1,441,180)
Number of Shares, Warrants Forfeited
Number of Shares, Warrants Expired
Number of Shares, Warrants Granted
Number of Shares, Warrants Outstanding Ending		1,441,180
Number of Shares, Warrants Exercisable		1,441,180
Number of shares, warrants non-exercisable
Weighted Average Exercise Price Per Share Warrants Outstanding Beginning	$ 2.35	$ 2.35
Weighted Average Exercise Price Per Share Warrants Series C Preferred Stock Warrants Exchanged For Common Stock Warrants Upon Reverse Merger	2.35
Weighted Average Exercise Price Per Share Warrants Forfeited
Weighted Average Exercise Price Per Share Warrants Expired
Weighted Average Exercise Price Per Share Warrants Granted
Weighted Average Exercise Price Per Share Warrants Outstanding Ending		2.35
Weighted Average Exercise Price Per Share Exercisable		2.35
Weighted Average Exercise Price Per Share Non-Exercisable
Range of Exercise Price, Exercisable	0.72
Range of Exercise Price, Non-Exercisable
Weighted Average Remaining Life (Years) Exercisable		4 years 10 months 6 days
Weighted Average Remaining Life (Years) Non-Exercisable	0 years	0 years
Common Stock Warrant [Member] | Series C Warrants [Member] | Minimum [Member]
Range of Exercise Price, Outstanding		$ 2.25
Common Stock Warrant [Member] | Series C Warrants [Member] | Maximum [Member]
Range of Exercise Price, Outstanding		2.70
Series C Preferred Stock Warrants [Member] | Series C Warrants [Member] | Minimum [Member]
Range of Exercise Price, Exercisable		2.25
Series C Preferred Stock Warrants [Member] | Series C Warrants [Member] | Maximum [Member]
Range of Exercise Price, Exercisable		$ 2.70

Warrant Liabilities - Schedul_2

Warrant Liabilities - Schedule of Fair Value Hierarchy for Warrant Liabilities (Details) - USD ($)	9 Months Ended	12 Months Ended
	Dec. 31, 2020	Mar. 31, 2020
Balance as of June 30, 2020	$ 8,310,100
Level 1 [Member]
Balance as of June 30, 2020
Level 2 [Member]
Balance as of June 30, 2020
Level 3 [Member]
Balance as of June 30, 2020	$ 8,310,100

Warrant Liabilities - Schedul_3

Warrant Liabilities - Schedule of Assumptions of Warrant Liabilities (Details)	Dec. 31, 2020
Risk-Free Interest Rate [Member] | Minimum [Member]
Fair value assumptions, measurement input, percentages	0.17
Risk-Free Interest Rate [Member] | Maximum [Member]
Fair value assumptions, measurement input, percentages	0.22
Risk-Free Interest Rate [Member] | Weighted Average [Member]
Fair value assumptions, measurement input, percentages	0.18
Expected Volatility (peer group) [Member]
Fair value assumptions, measurement input, percentages	82
Expected Volatility (peer group) [Member] | Weighted Average [Member]
Fair value assumptions, measurement input, percentages	82
Expected Life (Years) [Member] | Minimum [Member]
Fair value assumptions, measurement input, term	2 years 10 months 25 days
Expected Life (Years) [Member] | Maximum [Member]
Fair value assumptions, measurement input, term	3 years 5 months 27 days
Expected Life (Years) [Member] | Weighted Average [Member]
Fair value assumptions, measurement input, term	3 years 7 days
Expected Dividends Yield [Member]
Fair value assumptions, measurement input, percentages	0
Expected Dividends Yield [Member] | Weighted Average [Member]
Fair value assumptions, measurement input, percentages	0

Leases (Details Narrative)

Leases (Details Narrative) - USD ($)	9 Months Ended	12 Months Ended
	Dec. 31, 2020	Mar. 31, 2020
Leases [Abstract]
Weighted-average remaining lease term	1 year 9 months 18 days
Discount rate operating lease	8.90%
Lease expense	$ 259,000	$ 343,000

Leases - Schedule of Operating

Leases - Schedule of Operating Lease Right of Use Assets and Operating Lease Liabilities (Details) - USD ($)	9 Months Ended
	Dec. 31, 2020	Mar. 31, 2020
Initial measurement at April 1, 2020:
Less deferred rent allowance
Net right-of-use assets at April 1, 2020
Less amortization of operating lease right-of-use assets	(101,870)
Operating lease right-of-use assets at December 31, 2020	430,795
Initial measurement at April 1, 2020:	663,110
Less principal payments on operating lease liabilities	(171,545)
Operating lease liabilities at December 31, 2020	491,565
Less non-current portion	236,826
Current portion at June 30, 2020	254,739
Accounting Standards Update 2018-01 [Member]
Initial measurement at April 1, 2020:	$ 663,110
Less deferred rent allowance		(77,597)
Net right-of-use assets at April 1, 2020		$ 585,513

Leases - Schedule of Maturities

Leases - Schedule of Maturities of Operating Lease Liabilities (Details) - USD ($)	Dec. 31, 2020	Mar. 31, 2020
Leases [Abstract]
2021	$ 288,355
2022	246,650
Total	535,005
Less present value discount	(43,440)
Operating lease liabilities	$ 491,565	$ 663,110

Research and License Agreemen_2

Research and License Agreements (Details Narrative) - USD ($)	1 Months Ended							3 Months Ended	5 Months Ended	6 Months Ended		9 Months Ended		12 Months Ended
	Nov. 30, 2020	Jun. 30, 2020	May 31, 2020	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Sep. 30, 2020	Aug. 30, 2020	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2020	Dec. 31, 2019	Mar. 31, 2020	Mar. 31, 2021
Research and development												$ 3,316,099		$ 679,620
Product sales												2,849,561	$ 4,101,212	5,557,967
Collaborative Research Revenue [Member]
Product sales														85,000
Net Product Sales-Related Party [Member]
Product sales												1,640,375		3,402,260
University of Louisville Research Foundation [Member] | Minimum [Member] | Royalties and Non-Royalty Sublicensee Income [Member]
Shortfall payments										$ 5,000
University of Louisville Research Foundation [Member] | Maximum [Member] | Royalties and Non-Royalty Sublicensee Income [Member]
Shortfall payments										50,000
Sekisui Diagnostics, LLC [Member]
Deferred revenue												250,000
Sekisui Diagnostics, LLC [Member] | Subsequent Event [Member]
Deferred revenue															$ 420,000
STA Pharmaceutical Co Ltd [Member]
Upfront deposit												1,100,000
License and Sponsored Research Agreements [Member] | University of Louisville Research Foundation [Member]
Payment of convertible promissory note						$ 50,000	$ 50,000
Reimbursement of research expenses						805,000	805,000
Reimbursement patent cost						$ 200,000	$ 200,000
Agreement term payment, description						In addition, the Company has agreed to pay ULRF (i) royalties, on patent-covered net sales associated with the commercialization of anti-nucleolin agent-conjugated nanoparticles of 4% (on net sales up to a cumulative $250,000,000) or 5% (on net sales above a cumulative $250,000,000), until expiration of the last to expire of the licensed patents, (ii) 30% to 50% of any non-royalty sublicensee income received (50% for sublicenses granted in the first two years of the ULRF license agreement, 40% for sublicenses granted in the third or fourth years of the ULRF license agreement, and 30% for sublicenses granted in the fifth year of the ULRF license agreement or thereafter)	In addition, the Company has agreed to pay ULRF (i) royalties, on patent-covered net sales associated with the commercialization of anti-nucleolin agent-conjugated nanoparticles of 4% (on net sales up to a cumulative $250,000,000) or 5% (on net sales above a cumulative $250,000,000), until expiration of the last to expire of the licensed patents, (ii) 30% to 50% of any non-royalty sublicensee income received (50% for sublicenses granted in the first two years of the ULRF license agreement, 40% for sublicenses granted in the third or fourth years of the ULRF license agreement, and 30% for sublicenses granted in the fifth year of the ULRF license agreement or thereafter)
Licensed product sales, revenue						$ 500,000,000	$ 500,000,000
Milestone payment for marketing expenses						500,000	500,000
Research and development												283,000		205,000
License costs												160,000		0
License and Sponsored Research Agreements [Member] | University of Louisville Research Foundation [Member] | Licensed Product Sales [Member]
Regulatory marketing approval, expenses				$ 5,000,000		500,000	500,000
License and Sponsored Research Agreements [Member] | University of Louisville Research Foundation [Member] | Phase 1 Clinical Trial [Member]
Milestone payment				50,000		100,000	100,000
License and Sponsored Research Agreements [Member] | University of Louisville Research Foundation [Member] | Phase 2 Clinical Trial [Member]
Milestone payment				100,000		200,000	200,000
License and Sponsored Research Agreements [Member] | University of Louisville Research Foundation [Member] | Phase 3 Clinical Trial [Member]
Milestone payment				150,000		350,000	350,000
License and Sponsored Research Agreements [Member] | University of Louisville Research Foundation [Member] | Minimum [Member]
Milestone payment						100,000	100,000
Shortfall payments						10,000	10,000
License and Sponsored Research Agreements [Member] | University of Louisville Research Foundation [Member] | Maximum [Member]
Milestone payment						5,000,000	5,000,000
Shortfall payments						$ 50,000	$ 50,000
Sponsored Research and License Agreement [Member]
Research and development												14,000		117,000
Minimum annual royalties												10,000		0
License costs												370,000		0
Sponsored research expense										139,000	$ 20,000
Sponsored Research and License Agreement [Member] | University of Louisville Research Foundation [Member]
Reimbursement patent cost				$ 112,000
Agreement term payment, description				In addition, the Company has agreed to pay ULRF (i) royalties, on patent-covered net sales associated with the commercialization, of 4% (on net sales up to a cumulative $250,000,000) or 5% (on net sales above a cumulative $250,000,000), until expiration of the licensed patent, and 2.5% (on net sales for any sales not covered by Licensed Patents), (ii) 30% to 50% of any non-royalty sublicensee income received (50% for sublicenses granted in the first two years of the ULRF license agreement, 40% for sublicenses granted in the third or fourth years of the ULRF license agreement, and 30% for sublicenses granted in the fifth year of the ULRF license agreement or thereafter),
Regulatory marketing approval, expenses				$ 300,000
Licensed product sales, revenue				500,000,000
Research and development				693,000
Sponsored Research and License Agreement [Member] | University of Louisville Research Foundation [Member] | Minimum [Member]
Milestone payment				50,000
Sponsored Research and License Agreement [Member] | University of Louisville Research Foundation [Member] | Maximum [Member]
Milestone payment				5,000,000
License Agreement [Member] | University of Louisville Research Foundation [Member]
License costs												$ 0		$ 24,000
Upfront license fee		$ 24,000
ULRF license agreement description		In addition, the Company has agreed to pay ULRF (i) royalties, on patent-covered net sales associated with the commercialization, of 4% (on net sales up to a cumulative $250,000,000) or 5% (on net sales above a cumulative $250,000,000), until expiration of the licensed patent, and 2.5% (on net sales for any sales not covered by Licensed Patents), (ii) 30% to 50% of any non-royalty sublicensee income received (50% for sublicenses granted in the first two years of the ULRF license agreement, 40% for sublicenses granted in the third or fourth years of the ULRF license agreement, and 30% for sublicenses granted in the fifth year of the ULRF license agreement or thereafter), (iii) reimbursements for costs associated with the preparation, filing, prosecution and maintenance of licensed patents, incurred prior to June 2020, and (iv) payments ranging from $50,000 to $5,000,000 upon the achievement of certain regulatory and commercial milestones. Milestone payments for the first therapeutic indication would be $50,000 for first dosing in a Phase 1 clinical trial, $100,000 for first dosing in a Phase 2 clinical trial, $150,000 for first dosing in a Phase 3 clinical trial, $300,000 for regulatory marketing approval and $5,000,000 upon achieving a cumulative $500,000,000 of Licensed Product sales.
License Agreement [Member] | University of Louisville Research Foundation [Member] | Minimum [Member]
Upfront license fee				20,000
License Agreement [Member] | University of Louisville Research Foundation [Member] | Maximum [Member]
Research and development	$ 430,000	$ 250,000
Upfront license fee				$ 100,000
License Agreement [Member] | Advanced Cancer Therapeutics [Member]
Licensed product sales, revenue					$ 3,000,000
Research and development								$ 100,000		$ 110,000
Proceeds from convertible promissory note					$ 25,000
Agreement description					Royalties, on net sales associated with the commercialization of ACT-GRO-777/AS1411, of 2% (only if patent-covered and only on net sales above a cumulative $3,000,000) or 1% (if not patent-covered, but only on net sales above a cumulative $3,000,000), until the 15th anniversary of the ACT license agreement and (ii) milestone payments of $100,000 for the Company raising a cumulative total of $2,000,000 in new equity financing after the date of the ACT license agreement, $100,000 upon any first AS1411-based licensed product receiving the CE Mark or similar FDA status, and $500,000 upon cumulative worldwide AS1411-based licensed product net sales reaching $3,000,000
Milestone payment			$ 100,000		$ 100,000
Cumulative amount			$ 2,000,000		2,000,000
Purchased drug compounds									$ 10,000
Rectification of additionaldrug compounds									50,000
License Agreement [Member] | Advanced Cancer Therapeutics [Member] | CE Mark [Member]
Milestone payment					100,000
Cumulative amount					$ 500,000
License Agreement [Member] | Advanced Cancer Therapeutics [Member] | Investigational New Drug [Member]
Rectification of additionaldrug compounds									$ 100,000

Stockholders' Equity (Deficit_2

Stockholders' Equity (Deficit) (Details Narrative) - USD ($)	Dec. 18, 2020	Aug. 04, 2020	Jul. 10, 2020	Dec. 31, 2020	Dec. 31, 2019	Mar. 31, 2020	Aug. 31, 2020	Jul. 31, 2020	Dec. 31, 2017
Shares of authorized but unissued common stock				15,477,364
Warrant exercise price				$ 0.72
Stock based compensation expense				$ 2,800,851		$ 7,866
Stock Options and Warrants [Member]
Stock based compensation expense				2,800,000	$ 0
Unrecognized compensation cost				$ 12,600,000
Weighted average period term				2 years 5 months 16 days
Stock options exercised
Stock option granted exercise price				$ 4.97
Stock Options and Warrants [Member] | 2020 Stock Incentive Plan [Member]
Stock options outstanding shares				3,917,500		0
Stock options shares future grant				139,657		0
Stock options description				The exercise price for an option issued under the 2020 Plan is determined by the Board of Directors, but will be (i) in the case of an incentive stock option (A) granted to an employee who, at the time of grant of such option, is a 10% stockholder, no less than 110% of the fair market value per share on the date of grant; or (B) granted to any other employee, no less than 100% of the fair market value per share on the date of grant; and (ii) in the case of a non-statutory stock option, no less than 100% of the fair market value per share on the date of grant.
Securities Purchase Agreement [Member] | Two-year Warrants [Member]
Purchase of stock warrants	1,348,314	1,287,829	1,920,768
Warrant exercise price	$ 4.07	$ 6	$ 5.25
Securities Purchase Agreement [Member] | Single Institutional Investor [Member]
Sale of stock	$ 12,000,000	$ 10,000,000	$ 8,000,000
Beneficial-ownership percentage	9.99%	9.99%	9.99%
Common Stock [Member]
Number of shares issued upon conversion				7,004,983
Number of shares common stock
Common Stock [Member] | Noncompensatory Equity Classified Warrants [Member]
Purchase of stock warrants				2,191,000
Warrant exercise price				$ 4.07
Common Stock [Member] | Securities Purchase Agreement [Member]
Number of shares common stock	2,370,786	1,717,106	1,140,570
Pre-funded Warrants [Member] | Securities Purchase Agreement [Member]
Purchase of stock warrants	1,000,000		780,198
Warrant [Member] | Securities Purchase Agreement [Member]
Purchase of stock warrants	842,696
Warrant exercise price	$ 4.07
Compensatory Warrants [Member]
Purchase of stock warrants				811,431					668,024
Warrant exercise price				$ 1.11					$ 2.34
Equity capital raise				$ 4,000,000
Warrants [Member]
Stock based compensation expense
Unrecognized compensation cost
Noncompensatory Equity Classified Warrants [Member]
Purchase of stock warrants				270,478			1,287,829	2,700,966
Warrant exercise price				$ 1.11			$ 6	$ 5.25
Noncompensatory Equity Classified Warrants [Member] | Investor [Member]
Purchase of stock warrants				1,000,000
Warrant exercise price				$ 0.01
Series A Preferred Stock [Member]
Preferred stock, shares outstanding				0		2,412,887
Series B Preferred Stock [Member]
Preferred stock, shares outstanding				0		7,707,736
Series C Preferred Stock [Member]
Preferred stock, shares outstanding				0		3,300,715
Series D Preferred Stock [Member]
Preferred stock, shares outstanding				0		1,508,305
Series D-1 Preferred Stock [Member]
Preferred stock, shares outstanding				0		643,511
Series Alpha Preferred Stock [Member]
Shares of authorized but unissued common stock				243,418
Preferred stock, shares outstanding				180		0
Number of convertible preferred stock converted				5,180

Stockholders' Equity (Deficit_3

Stockholders' Equity (Deficit) - Schedule of Reserved Shares (Details)	Dec. 31, 2020shares
Total	15,477,364
Exercise of Issued and Future Grants of Stock Options [Member]
Total	4,011,356
Exercise of Stock Warrants [Member]
Total	11,222,590
Series Alpha Preferred Stock [Member]
Total	243,418

Stockholders' Equity (Deficit_4

Stockholders' Equity (Deficit) - Summary of Stock Option Activity (Details) - Employees and Non-employee Service Provider [Member]	9 Months Ended
	Dec. 31, 2020$ / sharesshares
Number of Shares, Options Outstanding, Beginning | shares
Number of Shares, Options Legacy Ritter options | shares	95,124
Number of Shares, Options Granted | shares	3,917,500
Number of Shares, Options Expired | shares	(1,268)
Number of Shares, Options Forfeited | shares
Number of Shares, Options Outstanding at Ending | shares	4,011,356
Number of Shares, Options Exercisable (vested) | shares	108,856
Number of Shares, Options Non-Exercisable (non-vested) | shares	3,902,500
Weighted Average Exercise Price, Outstanding, Beginning
Weighted Average Exercise Price, Options Legacy Ritter options	92.8
Weighted Average Exercise Price, Options Granted	4.97
Weighted Average Exercise Price, Options Expired	34.54
Weighted Average Exercise Price, Options Forfeited
Weighted Average Exercise Price, Outstanding at Ending	7.05
Weighted Average Exercise Price, Options Exercisable (vested)	81.38
Weighted Average Exercise Price, Options Non-Exercisable (non-vested)	$ 4.97
Weighted- Average Remaining Contractual Life (in Years), Outstanding, Beginning	1 year 4 months 20 days
Weighted- Average Remaining Contractual Life (in Years), Options Legacy Ritter options	9 years 5 months 16 days
Weighted- Average Remaining Contractual Life (in Years), Outstanding at Ending	9 years 3 months 15 days
Weighted- Average Remaining Contractual Life (in Years), Options Exercisable (vested)	2 years 6 months
Weighted- Average Remaining Contractual Life (in Years), Options Non-exercisable (non-vested)	9 years 5 months 20 days
Minimum [Member]
Range of Exercise price, Options Legacy Ritter options	$ 5.75
Range of Exercise price, Options Granted	3.52
Range of Exercise price, Options Expired	15
Range of Exercise price, Options Forfeited
Range of Exercise price, Options Exercisable (vested)	3.52
Range of Exercise price, Options Non-Exercisable (non-vested)	3.52
Maximum [Member]
Range of Exercise price, Options Legacy Ritter options	1,465.75
Range of Exercise price, Options Granted	5.13
Range of Exercise price, Options Expired	562.50
Range of Exercise price, Options Forfeited
Range of Exercise price, Options Exercisable (vested)	1,465.75
Range of Exercise price, Options Non-Exercisable (non-vested)	$ 5.13

Stockholders' Equity (Deficit_5

Stockholders' Equity (Deficit) - Schedule of Assumptions Used in Black-Scholes Option-Pricing Method (Details)	9 Months Ended
	Dec. 31, 2020$ / shares
Expected dividend yield	0.00%
Expected stock-price volatility	102.00%
Risk-free interest rate, minimum	0.33%
Risk-free interest rate, maximum	0.65%
Expected average term of options (in years)	6 years
Minimum [Member]
Stock price	$ 3.52
Maximum [Member]
Stock price	$ 5.13

Stockholders' Equity (Deficit_6

Stockholders' Equity (Deficit) - Schedule of Share-based Compensation Expense (Details) - USD ($)	9 Months Ended	12 Months Ended
	Dec. 31, 2020	Mar. 31, 2020
Total	$ 2,800,851	$ 7,866
General and Administrative [Member]
Total	2,388,380	4,830
Research and Development [Member]
Total	$ 412,471	$ 3,036

Stockholders' Equity (Deficit_7

Stockholders' Equity (Deficit) - Summary of Warrant Activity (Details) - USD ($)	9 Months Ended	12 Months Ended
	Dec. 31, 2020	Mar. 31, 2020
Compensatory Warrant Activity [Member]
Number of Shares, Warrants Outstanding Beginning	754,262	756,262
Number of Shares, Warrants Series C preferred stock compensatory warrants exchanged for common stock warrants upon reverse recapitalization	$ 668,024
Number of Shares, Warrants Granted to advisor and its designees	811,431
Number of Shares, Warrants Exercised	(159,978)
Number of Shares, Warrants Expired
Number of Shares, Warrants Forfeited	(25,260)	(2,000)
Number of Shares, Warrants Outstanding Ending	1,294,217	754,262
Number of Shares, Warrants Exercisable	1,290,621	746,142
Number of shares, warrants non-exercisable	3,596	8,120
Weighted Average Exercise Price Per Share Warrants Outstanding Beginning	$ 1.99	$ 1.99
Weighted Average Exercise Price Per Share compensatory Warrants Series C Preferred Stock Warrant Exchanged For Common Stock Warrant Upon Reverse Recapitalization	2.25
Weighted Average Exercise Price Per Share Warrants Granted to advisor and its designees	1.11
Weighted Average Exercise Price Per Share Warrants Exercised	1.26
Weighted Average Exercise Price Per Share Warrants Expired
Weighted Average Exercise Price Per Share Warrants Forfeited	2.07	2.25
Weighted Average Exercise Price Per Share Warrants Outstanding Ending	1.6670	1.99
Weighted Average Exercise Price Per Share Exercisable	1.66	1.99
Weighted Average Exercise Price Per Share Non-Exercisable	2.54	2.25
Range of Exercise Price, Non-Exercisable	$ 1.11	$ 2.25
Weighted Average Remaining Life (Years) Exercisable	4 years 2 months 1 day	4 years 7 months 2 days
Weighted Average Remaining Life (Years) Non-Exercisable	5 years 8 months 19 days	6 years 5 months 23 days
Compensatory Warrant Activity [Member] | Minimum [Member]
Range of Exercise Price, Exercisable	$ 1.11	$ 1.83
Compensatory Warrant Activity [Member] | Maximum [Member]
Range of Exercise Price, Exercisable	$ 2.54	$ 2.25
Non-Compensatory Warrant Activity [Member]
Number of Shares, Warrants Outstanding Beginning
Number of Shares, Warrants Legacy Ritter warrants	81,455
Number of Shares, Warrants Granted to advisor and its designees	7,450,193
Number of Shares, Warrants Exercised	(980,198)
Number of Shares, Warrants Expired	(1,673)
Number of Shares, Warrants Forfeited
Number of Shares, Warrants Outstanding Ending	6,549,777
Number of Shares, Warrants Exercisable	5,707,081
Number of shares, warrants non-exercisable	842,696
Weighted Average Exercise Price Per Share Warrants Outstanding Beginning
Weighted Average Exercise Price Per Share Warrants Legacy Ritter warrants	21.94
Weighted Average Exercise Price Per Share Warrants Granted to advisor and its designees	4.18
Weighted Average Exercise Price Per Share Warrants Exercised	1.11
Weighted Average Exercise Price Per Share Warrants Expired	1,562.50
Weighted Average Exercise Price Per Share Warrants Forfeited
Weighted Average Exercise Price Per Share Warrants Outstanding Ending	4.36
Weighted Average Exercise Price Per Share Exercisable	4.40
Weighted Average Exercise Price Per Share Non-Exercisable	4.07
Range of Exercise Price, Non-Exercisable	$ 4.07
Weighted Average Remaining Life (Years) Exercisable	1 year 5 months 5 days
Weighted Average Remaining Life (Years) Non-Exercisable	3 years
Non-Compensatory Warrant Activity [Member] | Minimum [Member]
Range of Exercise Price, Exercisable	$ 0.01
Non-Compensatory Warrant Activity [Member] | Maximum [Member]
Range of Exercise Price, Exercisable	$ 2,325

Income Taxes (Details Narrative

Income Taxes (Details Narrative) - USD ($)	9 Months Ended
	Dec. 31, 2020	Mar. 31, 2020
Operating loss carryforwards expire year	2019
Research and development credit carryforwards expire year	2019
Unrecognized tax benefits
Interest or penalties
Federal [Member]
Operating loss carryforwards	111,400,000
Research and development credit carryforwards	3,800,000
State [Member]
Operating loss carryforwards	82,500,000
Research and development credit carryforwards	$ 1,700,000

Income Taxes - Schedule of Reco

Income Taxes - Schedule of Reconciliation of Statutory Income Tax Rate (Details)	9 Months Ended	12 Months Ended
	Dec. 31, 2020	Mar. 31, 2020
Income Tax Disclosure [Abstract]
Statutory federal income tax rate	21.00%	21.00%
State taxes, net of federal tax benefit	2.50%	2.00%
Non-deductible expenses	(0.50%)	(0.20%)
Tax credit	(2.80%)	7.10%
Change in fair value of warrant liability	(8.90%)	0.00%
True-up	(1.10%)	(7.60%)
Change in valuation allowance	(10.30%)	(22.60%)
Income taxes provision	(0.10%)	(0.30%)

Income Taxes - Schedule of Inco

Income Taxes - Schedule of Income Tax Expense (Details) - USD ($)	9 Months Ended	12 Months Ended
	Dec. 31, 2020	Mar. 31, 2020
Income Tax Disclosure [Abstract]
Current Federal
Current State	1,000	4,000
Total current provision	1,000	4,000
Deferred Federal	(1,634,000)	(346,000)
Deferred State	(384,000)	(55,000)
Total deferred benefit	(2,018,000)	(401,000)
Change in valuation allowance	2,017,000	401,000
Total provision for income taxes		$ 4,000

Income Taxes - Schedule of Defe

Income Taxes - Schedule of Deferred Tax Assets (Details) - USD ($)	Dec. 31, 2020	Mar. 31, 2020
Income Tax Disclosure [Abstract]
Net operating loss	$ 28,914,000	$ 8,127,000
Research and development credit	5,464,000	2,012,000
Accrued expenses	292,000	348,000
Patent	422,000
Impairment loss	361,000
Stock compensation	2,654,000
Other	84,000	56,000
Total deferred income tax assets	38,191,000	10,543,000
Fixed assets	44,000	(9,000)
Intangible assets	(18,000)	(22,000)
Total deferred income tax liabilities	26,000	(31,000)
Net deferred income tax assets	38,217,000	10,512,000
Valuation allowance	(38,217,000)	(10,512,000)
Net deferred tax assets

Related Party Transactions (Det

Related Party Transactions (Details Narrative) - USD ($)	1 Months Ended	9 Months Ended	12 Months Ended
	May 31, 2020	Dec. 31, 2020	Mar. 31, 2020
Research and development		$ 3,316,099	$ 679,620
Sekisui [Member]
Receivable amount		381,000	290,000
Product sales		1,600,000	3,400,000
Cost of product sales		1,700,000	2,500,000
Research and development		0	525,000
Related party obligation satisfied		0	900,000
Deferred revenue		$ 95,000	$ 271,000
Series D and Series D-1 Preferred Stock [Member]
Conversion of preferred stock	1,980,233

Transition Period Comparative_3

Transition Period Comparative Data - Schedule of Comparative Transition Period Financial Information (Details) - USD ($)	9 Months Ended		12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Mar. 31, 2020
Transition Period Comparative Data
Revenues	$ 2,849,561	$ 4,101,212	$ 5,557,967
Gross profit	209,413	1,114,834
Net loss before income taxes	(19,546,366)	(910,317)	(1,783,512)
Net loss	$ (19,546,366)	$ (911,900)	$ (1,787,512)
Net loss per share - basic and fully diluted	$ (1.12)	$ (0.16)	$ (0.32)
Weighted average shares used in computing basic and diluted net loss per share	17,431,714	5,602,212	5,602,214

Subsequent Events (Details Narr

Subsequent Events (Details Narrative) - Subsequent Event [Member] - University of Louisville Research Foundation [Member]	1 Months Ended
	Feb. 28, 2021USD ($)
Minimum [Member]
Reimbursement of research expense	$ 693,000
Maximum [Member]
Reimbursement of research expense	$ 1,400,000