Beyond Air (XAIR) 10-Q 14 Feb 19 2019 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Dec. 31, 2018	Feb. 14, 2019
Document And Entity Information
Entity Registrant Name	AIT Therapeutics, Inc.
Entity Central Index Key	1,641,631
Document Type	10-Q
Document Period End Date	Dec. 31, 2018
Amendment Flag	false
Current Fiscal Year End Date	--03-31
Entity Filer Category	Non-accelerated Filer
Entity Small Business Flag	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Common Stock, Shares Outstanding		8,598,657
Trading Symbol	AITB
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2,019

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($)	Dec. 31, 2018	Mar. 31, 2018
Current assets
Cash and cash equivalents	$ 479,700	$ 732,542
Restricted cash	15,912	5,692
Marketable securities	2,573,605	8,304,392
Other current assets and prepaid expenses	85,710	59,249
Total current assets	3,154,927	9,101,875
Licensing right to use technology	495,000
Property and equipment, net	259,221	253,184
TOTAL ASSETS	3,909,148	9,355,059
Current liabilities
Accounts payables	833,732	842,039
Accrued expenses	324,599	1,290,886
Options to be issued to NitricGen	295,000
Total current liabilities	1,453,331	2,132,925
Liabilities related to warrants		5,677,934
Long-term liabilities	1,453,331	7,810,859
Commitments and contingencies
Shareholders' equity
Preferred Stock, $0.0001 par value per share: 10,000,000 shares authorized, 0 shares issued and outstanding as of December 31, 2018 and March 31, 2018, respectively
Common Stock, $0.0001 par value per share: 100,000,000 shares authorized, 8,533,657 and 8,397,056 shares issued and outstanding as of December 31, 2018 and March 31, 2018, respectively	853	840
Treasury stock	(25,000)	(25,000)
Additional paid-in capital	40,056,458	32,141,110
Accumulated deficit	(37,586,650)	(30,569,764)
Accumulated other comprehensive income (loss)	10,156	(2,986)
Total shareholders' equity	2,455,817	1,544,200
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	$ 3,909,148	$ 9,355,059

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2018	Mar. 31, 2018
Statement of Financial Position [Abstract]
Preferred stock, par value	$ 0.0001	$ 0.0001
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	8,533,657	8,397,056
Common stock, shares outstanding	8,533,657	8,397,056

Condensed Consolidated Statemen

Condensed Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2018	Dec. 31, 2017
Operating expenses
Research and development	$ 586,696	$ 1,211,596	$ 2,299,267	$ 2,929,678
General and administrative	1,817,543	1,166,435	4,272,799	4,578,007
Operating loss	(2,404,239)	(2,378,031)	(6,572,066)	(7,507,685)
Other income (loss)
Change in fair value of warrant liabilities	3,351,232	647,789		(4,287,737)
Dividend income	13,737		74,723
Foreign exchange gain (loss)	(1,246)	(1,098)	(288)	28,043
Other expense	(1,903)	(2,242)	(2,897)	3,837
Total other income (loss)	3,361,820	644,449	71,538	(4,255,857)
Net income (loss)	957,581	(1,733,582)	(6,500,528)	(11,763,542)
Unrealized gain on marketable securities	4,365		13,142
Total comprehensive income (loss)	$ 961,946	$ (1,733,582)	$ (6,487,386)	$ (11,763,542)
Net income (loss) per share - basic	$ 0.11	$ (0.28)	$ (0.77)	$ (1.92)
Net income (loss) per share - diluted	$ 0.11	$ (0.28)	$ (0.77)	$ (1.92)
Weighted average number of common shares outstanding - basic	8,530,580	6,097,254	8,466,243	6,127,225
Weighted average number of common shares outstanding - diluted	8,554,320	6,097,254	8,466,243	6,127,255

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Changes in Shareholders' Equity (Unaudited) - 9 months ended Dec. 31, 2018 - USD ($)		Common Stock [Member]	Treasury Stock [Member]	Additional Paid-in Capital [Member]	Accumulated Deficit [Member]	Other Comprehensive Income (loss) [Member]	Total
Balance at Mar. 31, 2018		$ 840	$ (25,000)	$ 32,141,110	$ (30,569,764)	$ (2,986)	$ 1,544,200
Balance, shares at Mar. 31, 2018		8,397,056
Adjustment due to the Adoption of ASU- 2017-11 (1)	[1]			6,194,292	(516,358)		5,677,934
Issuance of common stock to Lincoln Park Financial Corporation pursuant to Stock Purchase Agreement, net of offering costs		$ 12		27,158			27,170
Issuance of common stock to Lincoln Park Financial Corporation pursuant to Stock Purchase Agreement, net of offering costs, shares		127,000
Issuance of common stock upon the exercise of options		$ 1		(1)
Issuance of common stock upon the exercise of options, shares		9,601
Stock-based compensation				1,693,899			1,693,899
Change in unrealized gains available-for-sale investments						13,142	13,142
Net loss					(6,500,528)		(6,500,528)
Balance at Dec. 31, 2018		$ 853	$ (25,000)	$ 40,056,458	$ (37,586,650)	$ 10,156	$ 2,455,817
Balance, shares at Dec. 31, 2018		8,533,657
[1]	The Company elected to adopt Accounting Standards Update 2017-11 retrospective to outstanding financial instruments with down round feature by means of cumulative-effect adjustment to the beginning additional paid-in capital of $6,194,292 and accumulated deficit of $(516,358) as of April 1, 2018.

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Changes in Shareholders' Equity (Unaudited) (Parenthetical)	Dec. 31, 2018USD ($)
Additional paid-in capital	$ 40,056,458
Accumulated deficit	(37,586,650)
Accounting Standards Update 2017-11 [Member]
Additional paid-in capital	6,194,292
Accumulated deficit	$ (516,358)

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Cash flows from operating activities
Net loss	$ (6,500,528)	$ (11,763,542)
Adjustments to reconcile net loss to net cash used in operating activities
Depreciation and amortization	46,222	31,932
Stock-based compensation	1,693,899	2,508,909
Imputed interest on loans due to former owners	1,466	2,933
Change in fair value of warrant liabilities		4,287,737
Unrealized gain on marketable securities	13,142
Changes in:
Other current assets and prepaid expenses	(26,460)	67,738
Accounts payable	(7,770)	121,504
Accrued expenses	(968,286)	(163,857)
Net cash used in operating activities	(5,748,315)	(4,906,646)
Cash flows from investing activities
Licensing right to use technology	(200,000)
Investment in marketable securities		(603,857)
Proceeds from redemption of marketable securities	5,730,782
Purchase of property and equipment	(52,259)	(219,255)
Net cash provided by (used in) investing activities	5,478,523	(823,112)
Cash flows from financing activities
Issuance of common stock, net of offering cost	27,170
Payment of loan and interest to former owners		(176,805)
Payment of line of credit		(28,000)
Exercise of options		1,005
Net cash provided by (used in) financing activities	27,170	(203,800)
Decrease in cash, cash equivalents and restricted cash	(242,622)	(5,933,558)
Cash, cash equivalents and restricted cash at beginning of period	738,234	7,140,904
Cash, cash equivalents and restricted cash at end of period	495,612	1,207,346
Supplemental disclosure of non-cash investing activities:
Fair market value of options to be issued to NitricGen for the licensing right to use technology	$ 295,000

Organization and Business

Organization and Business	9 Months Ended
	Dec. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Business	NOTE 1 ORGANIZATION AND BUSINESS AIT Therapeutics, Inc. (“AITT” or the “Company”) was incorporated on April 24, 2015 as KokiCare, Inc. under the laws of the State of Delaware. On January 9, 2017, the name of the Company was changed to AIT Therapeutics, Inc. Advanced Inhalation Therapies (AIT) Ltd. (“AIT”) was incorporated in Israel on May 1, 2011 and commenced its operations in May 2012. On August 29, 2014, AIT established a wholly-owned subsidiary, Advanced Inhalation Therapies (AIT) Inc. (“Inc.”), a Delaware corporation. In December 2016, through a merger transaction, AIT became a wholly-owned subsidiary of the Company. The Company is an emerging medical device company that is developing a Nitric Oxide (“NO”) delivery system that generates NO from ambient air. Prior to Consummation of the Merger The Company received a $320,000 cash purchase price from AIT and used the cash to (i) pay off all the liabilities of the Company as of the closing of the merger, (ii) issue a cash dividend of $2.50 per share to its stockholders immediately prior to the closing of the merger, and (iii) acquire 90,000 shares of its common stock, par value $0.0001 per share from the company’s prior sole officer and director, for $25,000. KokiCare Inc. adopted its amended and restated certificate of incorporation to (i) change its name from KokiCare Inc. to AIT Therapeutics Inc., (ii) increase its capitalization to provide for the issuance of up to 100,000,000 shares of its common stock and up to 10,000,000 shares of Preferred Stock, par value $0.0001 per share; and (iii) effect a one-for-100 reverse stock split of the common stock. In connection with the closing of the merger, all outstanding ordinary shares, warrants and options of AIT were converted into the rights to receive equivalent shares of AITT’s common stock, options and warrants at a ratio of 1:1. Reverse Merger On December 29, 2016, KokiCare Inc. entered into an Agreement and Plan of Merger (as subsequently amended, the “Merger Agreement”), together with Red Maple Ltd., a wholly owned subsidiary of KokiCare Inc., (“Merger Sub”), and AIT. The Merger Agreement provided for (i) the merger of Merger Sub with and into AIT pursuant to the laws of the State of Israel (the “Israeli Merger”), and (ii) the conversion of the ordinary shares and other outstanding securities of AIT into the right to receive shares and other applicable securities of AITT, with AIT surviving as a wholly owned subsidiary of AITT (the “Merger”). The Israeli Merger became effective on December 29, 2016 and the Merger closed on January 13, 2017 (the “Closing”). The Merger was accounted for as a reverse recapitalization which is outside the scope of Accounting Standards Codification “ASC” 805, “Business Combinations”. Under reverse capitalization accounting, AIT is considered the acquirer for accounting and financial reporting purposes and acquired the assets and assumed the liabilities of the Company. Assets acquired and liabilities assumed are reported at their historical amounts. Consequently, the consolidated financial statements of the Company reflect the operations of the acquirer for accounting purposes together with a deemed issuance of shares, equivalent to the shares held by the former stockholders of the legal acquirer and a recapitalization of the equity of the accounting acquirer. These condensed consolidated financial statements include the accounts of the Company since the effective date of the reverse capitalization and the accounts of AIT since inception. Liquidity As shown in the accompanying financial statements, the Company incurred negative operating cash flows of $5,748,315 for the nine months ended December 31, 2018 and accumulated losses of $37,586,650 since inception through December 31, 2018. The Company has cash equivalent and marketable securities of $3,069,217 as of December 31, 2018. The Company estimates that it has enough cash to operate its business through March 31, 2020. The Company will need to raise additional funds in order to continue our clinical trials. Insufficient funds may cause us to delay, reduce the scope of or eliminate one or more of our development programs. The Company’s future capital needs and the adequacy of its available funds will depend on many factors, including the cost of clinical studies and other actions needed to obtain regulatory approval of our medical devices in development. Management plans to raise additional funds through sale of equity or debt securities or through strategic collaboration and/or licensing agreements, to fund operations until the Company is able to generate enough revenues to cover operating costs. Financing may not be available on acceptable terms, or at all, and our failure to raise capital when needed could materially adversely impact our growth plans and our financial condition or results of operations. Additional equity financing, if available, may be dilutive to our shareholders. In addition, the Company may never be able to generate sufficient revenue if any from its potential medical devices. On August 10, 2018, the Company entered into a $20 million stock purchase agreement and a registration rights agreement with Lincoln Park Capital Fund, LLC (“LPC”), providing for the issuance of up to $20 million of the Company’s common stock over 36 months at the Company’s discretion, see Note 5. On January 23, 2019, the Company entered into an agreement for the commercial rights to conditions treated with < In addition to the normal risks associated with a new business venture, there can be no assurance that the Company’s research and development will be successfully completed or that any product will be approved or commercially viable. The Company is subject to risks common to companies in the medical device industry including, but not limited to, dependence on collaborative arrangements, development by the Company or its competitors of new technological innovations, dependence on key personnel, protection of proprietary technology, and compliance with the FDA and other governmental regulations and approval requirements.

Significant Accounting Policies

Significant Accounting Policies	9 Months Ended
	Dec. 31, 2018
Accounting Policies [Abstract]
Significant Accounting Policies	NOTE 2 SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States (“US GAAP”) for interim financial information and with the instructions to Form 10-Q. Accordingly, they do not include all of the information and footnotes required to be presented for complete financial statements. The accompanying condensed consolidated financial statements reflect all adjustments (consisting only of normal recurring items) which are, in the opinion of management, necessary for a fair presentation of the results for the interim periods presented. The accompanying condensed consolidated Balance Sheet as of March 31, 2018 has been derived from the audited consolidated financial statements included in our Transitional Report on Form 10-KT for the three months ended March 31, 2018 and for the year then ended December 31, 2017, respectively. The condensed consolidated financial statements and related disclosures have been prepared with the assumption that users of the interim financial information have read or have access to the audited consolidated financial statements and the related notes thereto included in the Transitional Report on Form 10-KT for the three months ended March 31, 2018 and for year ended December 31, 2017, respectively, which was filed with the United States Securities and Exchange Commission, (“SEC”), on June 15, 2018. Principles of Consolidation These condensed consolidated financial statements include the accounts of the Company since the effective date of the reverse capitalization and the accounts of AIT since inception. All intercompany balances and transactions have been eliminated in the accompanying condensed financial statements. Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses for the reporting period. Actual results could differ from those estimates. The Company’s significant estimates are warrant liabilities valuation, valuation of option liability, and valuation of deferred taxes. Cash and Cash Equivalents Cash equivalents are short-term highly liquid investments that are readily convertible to cash with original maturities of three months or less at acquisition. Concentration of Credit Risk Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of cash, cash equivalents, restricted cash and marketable securities. Cash and cash equivalents are invested in major banks in Israel and U.S. Management believes that the financial institutions that hold the Company’s investments are financially sound and, accordingly, minimal credit risk exists with respect to these investments. At times, such amounts may exceed federally insured limits. The Company has no off-balance-sheet concentration of credit risk such as foreign exchange contracts, option contracts or other foreign hedging arrangements. Restricted Cash Restricted cash accounts are invested in bank deposit. These deposits serve as collateral for the Company’s vehicle lease. Research and Development Research and development expenses are charged to the statement of comprehensive loss as incurred. Research and development expenses include salaries, costs incurred by outside laboratories, manufacturer’s, consultants, accredited facilities in connection with clinical trials and preclinical studies and stock based-compensation. Foreign Exchange Transactions AIT’s operations are in Israel and AITT’s operations are in the United States. The Company’s management believes that the U.S. dollar is the currency of the primary economic environment in which the Company operates and expects to continue to operate in the foreseeable future. Thus, the functional and reporting currency of the Company is the U.S. dollar. The Company’s transactions and balances denominated in U.S. dollars are presented at their original amounts. Non-dollar transactions and balances have been re-measured to U.S. dollars in accordance with the Accounting Standards Board (ASC) 830, “Foreign Currency Matter”. Stock-Based Compensation The Company measures the cost of employee services received in exchange for an award of equity instruments based on the grant-date fair value of the award. That cost is recognized over the period during which an employee is required to provide service in exchange for the award - the requisite service period. The grant-date fair value of employee share options is estimated using the Black-Scholes option pricing model. The risk-free interest rate assumptions were based upon the observed interest rates appropriate for the expected term of the equity instruments. The expected dividend yield was assumed to be zero as the Company has not paid any dividends since its inception and does not anticipate paying dividends in the foreseeable future. The expected volatility was based upon its peer group. The Company routinely reviews its calculation of volatility changes in future volatility, the Company’s life cycle, its peer group, and other factors. The Company uses the simplified method for share-based compensation to estimate the expected term for employee option awards for share-based compensation in its option-pricing model. The Company uses the contractual term for non- employee options to estimate the expected term, for share-based compensation in its option-pricing model. Compensation expense for warrants granted to non-employees is determined by the fair value of the consideration received or the fair value of the equity instruments issued, whichever is more reliably measured, and is recognized over the service period. The expense is subsequently adjusted to fair value at the end of each reporting period until such warrants vest, and the fair value of such instruments, as adjusted, is expensed over the related vesting period. Adjustments to fair value at each reporting date may result in income or expense, depending upon the estimate of fair value and the amount of expense recorded prior to the adjustment. The Company reviews its agreements and the future performance obligation with respect to the unvested warrants for its vendors or consultants. When appropriate, the Company will expense the unvested warrants at the time when management deems the service obligation for future services has ceased. Investment in Marketable Securities Investments in marketable securities classified available for sale are carried at fair value with the changes in unrealized gains and losses recognized in the Company’s results of operations as other comprehensive income (loss) at each measurement date. Realized gains and (loss) from the sale of marketable securities are recognized in the statement of comprehensive loss using the specific identification method on a trade date basis. Property and Equipment Property and equipment are stated at cost less accumulated depreciation and accumulated amortization. Depreciation and amortization is calculated using the straight-line method over the estimated useful life of the assets as follows: Computers equipment Three years Furniture and fixtures Seven years Clinical and medical equipment Fifteen years Leasehold improvements Shorter of term of lease or estimated useful life of the asset Licensing right to use technology Licensing right to use technology is an intangible asset resulting from the NitricGen transaction. The intangible asset was valued based upon the fair value of the options owed to NitricGen and the cash paid for this transaction. Intangible assets are considered to have an indefinite life until the completion or abandonment of the associated research and development project. Income Taxes The Company accounts for income taxes using the asset and liability method. Accordingly, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in the tax rate is recognized in income or expense in the period that the change is effective. Tax benefits are recognized when it is probable that the deduction will be sustained. A valuation allowance is established when it is more likely than not that all or a portion of a deferred tax asset will either expire before the Company is able to realize the benefit, or that future deductibility is uncertain. As of December 31, 2018, and March 31, 2018, the Company recorded a valuation allowance to the full extent of our net deferred tax assets since the likelihood of realization of the benefit does not meet the more likely than not threshold. On December 22, 2017, the U.S. government enacted comprehensive tax legislation commonly referred to as the Tax Act. The Tax Act reduces the federal corporate income tax rate from 35% to 21%, effective January 1, 2018, which the Company expects will positively impact its future effective tax rate and after-tax earnings in the United States. The Company recognized a decrease related to its federal deferred tax assets and deferred tax liabilities, before the valuation allowance. Because a change in the valuation allowance completely offsets the change in deferred taxes, there was no impact on the condensed consolidated financial statements related to the rate change. The Company files a U.S. Federal, various state, and International income tax returns. Uncertain tax positions are reviewed on an ongoing basis and are adjusted in light of changing facts and circumstances. Such adjustment is reflected in the tax provision when appropriate . Net Income (Loss) Per Share Basic net income (loss) per share attributable to common stockholders is computed by dividing the net income (loss) attributable to common stockholders by the weighted average number of common shares outstanding for the period. Diluted net income (loss) per share is computed by dividing net income (loss) for the period by the weighted average number of shares of common stock and potentially dilutive common stock outstanding during the period. The dilutive effect of outstanding options, warrants, restricted stock and stock-based compensation awards is reflected in diluted net income (loss) per share by application of the treasury stock method. The calculation of diluted net income (loss) per share excludes all anti-dilutive common shares. For periods in which the Company has reported net losses, diluted net loss per share attributable to common stockholders is the same as basic net loss per share attributable to common stockholders, because dilutive common shares are not assumed to have been issued if their effect is anti-dilutive. Recently Issued and Adopted Accounting Standards In January 2017, the Financial Accounting Standards Board (“FASB”) FASB released Accounting Standards Update “ASU” 2017-01, Business Combinations: Clarifying the Definition of a Business, which clarifies the definition of a business with the objective of adding guidance to assist entities with evaluating whether transactions should be accounted for as acquisitions or disposals of assets or businesses. The amendments in this ASU should be applied prospectively and are effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years, with early adoption permitted. No disclosures are required at transition. The Company adopted this standard during the third quarter December 31, 2018 and this standard did not have a material impact on our condensed consolidated financial statements. In May 2017, the FASB issued ASU 2017-09, Compensation—Stock Compensation (Topic 718): Scope of Modification Accounting. This standard provides clarity and reduces both (1) diversity in practice and (2) cost and complexity when applying the guidance in Topic 718, Compensation-Stock Compensation, to a change to the terms or conditions of a share-based payment award. The Company adopted the standard commencing April 1, 2018. The impact of the adoption had no effect to the Company’s condensed consolidated financial statements. In July 2017, the FASB issued ASU 2017-11, Earnings Per Share (Topic 260), Distinguishing Liabilities from Equity (Topic 480) and Derivatives and Hedging (Topic 815): I. Accounting for Certain Financial Instruments with Down Round Features. II. Replacement of the Indefinite Deferral for Mandatorily Redeemable Financial Instruments of Certain Nonpublic Entities and Certain Mandatorily Redeemable Noncontrolling Interests with a Scope Exception. This ASU affects all entities that issue financial instruments (for example, warrants or convertible instruments) that include down round features. Part I of this ASU relates to the recognition, measurement, and earnings per share of certain freestanding equity-classified financial instruments that include down round features affect entities that present earnings per share in accordance with the guidance in Topic 260, Earnings Per Share, while in Part II does not have an accounting effect. The Company elected to adopt Accounting Standards Update 2017-11during the third quarter of 2018, retrospective to outstanding financial instruments with down round feature by means of cumulative-effect adjustment by increasing beginning additional paid-in capital by $6,194,292 and decreasing accumulated deficit by $516,358 as of April 1, 2018. In November 2016, the FASB issued ASU No. 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash (ASU 2016-18), which requires companies to include amounts generally described as restricted cash and restricted cash equivalents in cash and cash equivalents when reconciling beginning-of-period and end-of-period total amounts shown on the statement of cash flows. The Company adopted the standard commencing January 1, 2018 . The impact of the adoption was immaterial to the Company’s condensed consolidated financial statements. Recently Issued and not Adopted Accounting Standards In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842) (ASU 2016-02), which generally requires companies to recognize operating and financing lease liabilities and corresponding right-of-use assets on the balance sheet. This update is effective for annual periods beginning after December 15, 2018, and interim periods within those annual periods. The Company is evaluating the effect that this guidance will have on the Company’s condensed consolidated financial statements and related disclosures. In June 2018, the FASB issued ASU No. 2018-07, Stock-based Compensation: Improvements to Nonemployee Share-based Payment Accounting The Company is evaluating of evaluating the impact of this accounting standard update on the Company’s condensed consolidated financial statements. In August 2018, the SEC adopted the final rule under SEC Release No. 33-10532, “Disclosure Update and Simplification,” amending certain disclosure requirements that were redundant, duplicative, overlapping, outdated or superseded. In addition, the amendments expanded the disclosure requirements on the analysis of stockholders’ equity for interim financial statements. Under the amendments, an analysis of changes in each caption of stockholders’ equity presented in the balance sheet must be provided in a note or separate statement. The analysis should present a reconciliation of the beginning balance to the ending balance of each period for which a statement of comprehensive income is required to be filed. This final rule is effective on November 5, 2018. The Company is evaluating the impact of this guidance on its condensed financial statements. The Company anticipates its first presentation of changes in stockholders’ equity will be included in its Form 10-Q for the quarter ended June 30, 2019. In August 2018, the FASB issued ASU”) 2018-13, “ Fair Value Measurement (Topic 820): Disclosure Framework-Changes to the Disclosure Requirements for Fair Value Measurement

Fair Value Measurement

Fair Value Measurement	9 Months Ended
	Dec. 31, 2018
Fair Value Disclosures [Abstract]
Fair Value Measurement	NOTE 3 FAIR VALUE MEASUREMENT The Company’s financial instruments primarily include cash, cash equivalents, restricted cash, marketable securities and accounts payable. Due to the short-term nature of cash, cash equivalent, restricted cash, marketable securities and accounts payable, the carrying amounts of these assets and liabilities approximate their fair value. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (an exit price) in an orderly transaction between market participants at the reporting date. The accounting guidance establishes a three-tiered hierarchy, which prioritizes the inputs used in the valuation methodologies in measuring fair value. A fair value hierarchy has been established for valuation inputs that gives the highest priority to quoted prices in active markets for identical assets or liabilities and the lowest priority to unobservable inputs. The fair value hierarchy is as follows: Level 1 - quoted prices in active markets for identical assets or liabilities; Level 2 - inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices in active markets for similar assets or liabilities, quoted prices for identical or similar assets or liabilities in markets that are not active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities; or Level 3 - unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. The Company accounted for the warrants issued to accredited shareholders included, among others, down round protective provisions as a non-current liability according to provisions of ASC 815. The Company had measured the warrants at fair value in each reporting period until they are exercised or expired, with changes in the fair value being recognized in the Company’s statement of comprehensive loss. Under ASC 820, the warrants and option liability are classified as Level 3 and cash, cash equivalents, restricted cash and marketable securities invested in mutual funds are classified as Level 1. There has been no transfer between any levels during the period. During the third quarter of 2018, the Company adopted ASU 2017-11 retrospectively to outstanding financial instruments with a down round feature by means of cumulative-effect adjustment. The balance as of April 1, 2018 for additional paid-in capital was increased by $6,194,292 and accumulated deficit was decreased by $516,358. As of March 31, 2018 Level 1 Level 2 Level 3 Total Assets Cash and cash equivalents $ 732,542 $ - $ - $ 732,542 Restricted cash 5,692 - - 5,692 Marketable securities - - - - - Mutual funds 8,304,392 - - 8,304,392 $ 9,042,626 $ - $ - $ 9,042,626 As of March 31, 2018 Level 1 Level 2 Level 3 Total Liabilities Liabilities related to warrants $ - $ - $ 5,677,934 $ 5,677,934 As of December 31, 2018 Level 1 Level 2 Level 3 Total Assets Cash and cash equivalents $ 479,700 $ - $ - $ 479,700 Restricted cash 15,912 - - 15,912 Marketable securities - - - - - Mutual funds 2,573,605 - - 2,573,605 $ 3,069,217 $ - $ - $ 3,069,217 As of December 31, 2018 Level 1 Level 2 Level 3 Total Liabilities Liabilities related to warrants $ - $ - $ - $ - Options to be issued to NitricGen - - 295,000 295,000 $ - $ - $ 295,000 $ 295,000 The following is a summary of the warrant and option liabilities from March 31, 2018 to December 31, 2018. Balance, March 31, 2018 $ 5,677,934 Fair market value of options to be issued to NitricGen 295,000 Reclassification of warrant liabilities to stockholders’ equity upon adoption of ASU-2017-11 (5,677,934 ) Balance, December 31, 2018 $ 295,000

Property and Equipment

Property and Equipment	9 Months Ended
	Dec. 31, 2018
Property, Plant and Equipment [Abstract]
Property and Equipment	NOTE 4 PROPERTY AND EQUIPMENT Property and equipment consist of the following as of December 31, 2018 and March 31, 2018, respectively: As of As of December 31, 2018 March 31, 2018 Clinical and medical equipment $ 357,795 $ 357,795 Computer equipment 40,283 28,727 Furniture and fixtures 39,747 1,889 Leasehold improvements 5,336 2,491 443,161 390,902 Accumulated depreciation and amortization (183,940 ) (137,718 ) $ 259,221 $ 253,184 Depreciation and amortization expense for the three months ended December 31, 2018 and 2017 was $15,638 and $14,487, respectively. Depreciation and amortization expense for the nine months ended December 31, 2018 and 2017 was $46,222 and $31,932, respectively.

Shareholder's Equity

Shareholder's Equity	9 Months Ended
	Dec. 31, 2018
Equity [Abstract]
Shareholder's Equity	NOTE 5 SHAREHOLDER’S EQUITY On February 16, 2018, the Company entered into a Securities Purchase Agreement with several accredited shareholders. The Company issued warrants to purchase 4,599,604 shares of its common stock, par value $0.0001 per share at a purchase price of $0.01 per underlying warrant share. The warrants are comprised of an aggregate of (i) 2,299,802 Tranche A Warrants to purchase shares of common stock at an exercise price of $4.25 per share exercisable within three days from the issue date of the Tranche A Warrants and (ii) an equal amount of Tranche B Warrants to purchase shares of common stock at an exercise price of $4.25 per share for the Tranche B Warrant, exercisable within three years from the issue date of the warrants. In connection with the February 2018 stock offering, the Company’s Board of Directors approved the issuance of warrants to purchase common stock with an exercise price of $4.25 per share. Immediately following the closing, all the shareholders in this offering exercised the full amount of their Tranche A Warrants resulting in net proceeds of $8,734,320. In February 2018, the Board of Directors repriced outstanding options to purchase common stock issued in 2017 to $4.25 per share. The Company accounted for the change in option exercise price as a modification pursuant to ASC 718. Accordingly, additional stock-based compensation of $59,507 was recorded over the remaining vesting period based upon the incremental fair value of the modified award and the fair value of the original award on the modification date On August 10, 2018, the Company entered into a $20 million Stock Purchase Agreement (commonly known as At The Market Offering, or ATM) with LPC. Pursuant to the terms of the Stock Purchase Agreement, the Company may sell and issue LPC and LPC is obligated to purchase up to $20 million in value of shares of common stock from time to time over three years. The Company also entered into a registration rights agreement with LPC whereby the Company agreed to file a registration statement with the SEC and the shares of the Company’s common stock that may be issued to LPC under the terms of the Stock Purchase Agreement. The Company may direct LPC, at its sole discretion, and subject to certain conditions, to purchase up to 10,000 shares of common stock on any business day, provided that at least one business day has passed since the most recent purchase. The amount of a purchase may be increased under certain circumstances provided, however that LPC cannot make any single purchase that exceeds $750,000. The purchase price of shares of common stock related to the future funding will be based on the then prevailing market prices of such shares at the time of sales as described in the Stock Purchase Agreement. The Company filed a registration statement with the SEC and it was accepted on October 12, 2018. From the execution of the Stock Purchase Agreement on August 10, 2018 to December 31, 2018, the Company issued and sold to LPC 127,000 shares of common stock at an average price of $4.51 per shares for net proceeds of $27,170 and incurred offering costs of $545,000 that was charged to additional paid in capital. On January 17, 2019 through January 23, 2019, the Company issued and sold to LPC 65,000 shares of common stock for proceeds of $279,265 at an average price of $4.30 per share. There is $19,148,565 remaining on the Stock Purchase Agreement. Issuance of Restricted Shares In January 2017, the Company issued 492,624 restricted shares to a director of the Company which 246,312 vested in July 2017. The unvested 246,312 restricted shares were cancelled in June 2017 and the Company recorded stock-based compensation expenses related to these restricted shares for the nine months ended December 31, 2018 and 2017 of $0 and $2,063,791. There was no stock-based compensation expense for the three months ended December 31, 2018 and 2017, respectively. Stock Option Plan The Company has an amended and restated Incentive Option Plan (the “2013 Plan”), that grants options, restricted stock units and restricted shares to officers, directors, employees, and non-employees for shares of the Company’s stock. The options vesting terms are generally between two to four years and expire up to ten years after the grant date. Certain options will be accelerated upon fulfillment of certain conditions. On August 2, 2018, the Board of Directors authorized the increase of an additional 1,033,324 shares to a total of 1,500,000 shares for issuance under the 2013 Plan. On December 26, 2018, the Board of Directors authorized the increase of an additional 600,000 shares to a total of 2,100,000 shares for issuance under the 2013 Plan. As of December 31, 2018, 188,527 options are available for future grants. A summary of the Company’s options for the nine months ended December 31, 2018 is as follows: Number Of Options Weighted Average Exercise price Weighted Average Remaining Contractual Life Options outstanding as of April 1, 2018 510,904 $ 4.32 9.0 Granted 1,381,000 4.25 Exercised (9,601 ) 4.25 Forfeited (33,333 ) 4.25 Options outstanding as of December 31, 2018 1,848,970 $ 4.29 8.9 Options exercisable as of December 31, 2018 761,896 $ 4.29 8.6 As of December 31, 2018, the aggregate intrinsic value of outstanding and exercisable options was and $623,900 and $343,800, respectively. The aggregate intrinsic value of options exercised during the period was $27,300. As of December 31, 2018, the Company has unrecognized stock-based compensation expense of approximately $1,434,100 related to unvested stock options over the weighted average remaining service period of 1.8 years. The weighted average fair value of options granted during the nine months ended December 31, 2018 and 2017 was approximately $2.79 per share and $2.23 per share, respectively, on the date of grant using the Black-Scholes option pricing model with the following assumption: December 31, 2018 December 31, 2017 Risk -free interest rate 2.5% - 3.2 % 2.1% - 3.5 % Expect volatility 80.7% - 83 % 75.2 % Expected terms (in years) 5-9.9 5.5-7.5 Dividend yield 0 % 0 % Stock-based Compensation The following summarizes the components of stock-based compensation expense which includes common stock, stock options, warrants and restricted stock in the condensed consolidated statements of comprehensive income (loss) for the three and nine months ended December 31, 2018 and 2017, respectively Three Months Ended Nine Months Ended December 31, December 31, 2018 2017 2018 2017 Research and development $ 88,830 $ 44,430 $ 187,103 $ 117,597 General and administrative 676,949 178,195 1,506,796 2,391,312 Total stock-based compensation expense $ 765,779 $ 222,625 $ 1,693,899 $ 2,508,909 In August 2018 and November 2018, the Board of Directors granted to the Directors and Officers, 810,000 options to purchase common stock. For the three and nine months ended, the stock-based compensation expense was $462,339 and $666,565, respectively related to these issuances. Warrants On September 7, 2016, the Company entered into an Option Agreement (the “Option Agreement”) with a third party whereby the Company acquired the Option to purchase certain intellectual property assets and rights (the “Option”) for $25,000. The Company exercised the Option in January 2017 and paid $500,000. On January 13, 2017 the Company issued to the third party a fully vested warrant (the “Third Party Warrant”) to purchase up to 178,570 common stock of the Company at an exercise price of $4.80 per share for each share of common stock. On May 10, 2018, the Company issued to the same third-party additional fully vested warrants to purchase up to 29,763 common stock of the Company at an exercise price of $4.80 per share. The warrant expires in January 2024. For the nine months ended December 31, 2018 and 2017, the Company recorded stock-based compensation expense of $55,900 and $0 to research and development expenses, respectively and is included in the table above. There was no stock stock-based compensation expense for the three months ended December 31, 2018 and 2017, respectively, see Note 8, commitments and contingencies. A summary of the Company’s outstanding warrants as of December 31, 2018 are as follows: Warrant Holders Number Of Warrants Exercise Price Date Of Expiration January 2017 offering - investors 1,701,616 $ 4.25 January 2022 (a) January 2017 offering - investors 1,701,616 $ 4.25 February 2022 (a) March 2017 offering - investors 220,988 $ 4.25 March 2021 March 2017 offering - placement agent 11,050 $ 4.25 March 2021 February 2018 offering - investors 2,299,802 $ 4.25 March 2022 Third-party 208,333 $ 4.80 January 2024 Total 6,143,405 (a) These warrants have down round protection.

Accrued Expenses

Accrued Expenses	9 Months Ended
	Dec. 31, 2018
Payables and Accruals [Abstract]
Accrued Expenses	NOTE 6 ACCRUED EXPENSES A summary of the accrued expenses as of December 31, 2018 and March 31, 2018 is as follows: As of December 31, 2018 As of March 31, 2018 Vendors - clinical trials $ - $ 497,577 Professional fees 67,420 492,250 Income taxes payable 154,300 154,300 Employee salaries and benefits 34,337 104,110 Due to former owners, related to acquisition 34,268 33,124 Other 34,274 9,525 $ 324,599 $ 1,290,886

Basic and Diluted Net Loss Per

Basic and Diluted Net Loss Per Common Share	9 Months Ended
	Dec. 31, 2018
Earnings Per Share [Abstract]
Basic and Diluted Net Loss Per Common Share	NOTE 7 BASIC AND DILUTED NET INCOME (LOSS) PER COMMON SHARE The computation of net loss per common share, basic and diluted, for the three and nine months ended December 31, 2018 and 2017 is as follows: Three Months Ended Nine Months Ended December 31, December 31, 2018 2017 2018 2017 Net income (loss) $ 957,581 $ (1,733,582 ) $ (6,500,528 ) $ (11,763,542 ) Net income (loss) - basic $ 0.11 $ (0.28 ) $ (0.77 ) $ (1.92 ) Net income loss – diluted $ 0.11 $ (0.28 ) $ (0.77 ) $ (1.92 ) Weighted average number of common shares outstanding – basic 8,530,580 6,097,225 8,466,243 6,127,225 Weighted average number of common shares outstanding - diluted 8,554,320 6,097,225 8,466,243 6,127,225 The following potentially dilutive securities were not included in the calculation of diluted net income (loss) per share attributable to common stockholders because their effect would have been anti-dilutive for the periods presented: Three Months Ended Nine Months Ended December 31, December 31, 2018 2017 2018 2017 Common stock warrants 6,143,405 3,813,840 6,143,405 3,813,840 Common stock options 1,521,230 548,721 1,544,970 548,721 Restricted shares 304,000 246,312 304,000 246,312 Total 7,968,635 4,608,873 7,992,375 4,608,873

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Dec. 31, 2018
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	NOTE 8 COMMITMENTS AND CONTINGENCIES On October 22, 2013, The Company entered into a patent license agreement with a third party, pursuant to which AIT agreed to pay to the third party a non-refundable upfront fee of $150,000 and is obligated to pay 5% royalties of any licensed product revenues, but at least $50,000 per annum during the royalty period as defined in the agreement. As of December 31, 2018, the Company did not record any revenues and therefore no royalties were paid or accrued. On September 7, 2016, AIT entered into an Option Agreement (the “Option Agreement”) with a third party whereby AIT acquired the Option to purchase certain intellectual property assets and rights (the “Option”) for $25,000 AIT issued to the third party a warrant (the “Third Party Warrant”) to purchase up to 178,570 ordinary shares of AIT at an exercise price of $4.80 for each share. This warrant was exchanged for a warrant to acquire the same number of shares of the Company’s common stock upon consummation of the merger. On May 10, 2018, the Company issued to the third-party additional warrants to purchase up to 29,763 shares of the Company at an exercise price of $4.80 per share for each share of common stock. The warrant expires in January 2024. Additionally, AIT is required to make certain one-time development and sales milestone payments to the third party, starting from the date on which the Company receives regulatory approval for the commercial sale of its first product candidate. On January 31, 2018 the Company entered into an agreement (“Agreement”) with NitricGen, Inc. (“NitricGen”) acquire a global, exclusive, transferable license and associated assets including intellectual property, know-how, trade secrets and confidential information from NitricGen related to NO delivery systems (“Delivery System”). The Company acquired the licensing right to use the technology and agreed to pay NitricGen a total of $2,000,000 in future payments based upon achieving certain milestones, as defined in the Agreement, and royalties on sales of the Delivery System. The Company paid NitricGen $100,000 upon the execution agreement, $100,000 upon achieving the next milestone and has an obligation to issue 100,000 options to purchase the Company’s stock upon executing the agreement. The term of the options is five year and has an exercise price of $6.90 per share A liability of $295,000 has been recorded for the fair market value of the options that have not been issued using the black-scholes option pricing model. The Company used a volatility rate of 79.9% and risk-free interest rate of 2.5% The Company recorded the milestone payments and the fair market value of the options as a licensing right to use the technology which is an intangible asset, aggregating $495,000. During the three months ended December 31, 2018, the Company recorded an adjustment of $495,000 to intangible assets to correct an error of which $200,000 was previously recorded to research and development during the three months ended March 31, 2018. The effect of this correction to the balance sheet as of December 31, 2018 was an increase to the assets by $495,000, an increase to the liability by $295,000 and a decrease in research and development of $200,000. The effect of this correction to the statement of comprehensive income (loss) for the three and nine months ended December 31, 2018 was $200,000 of income. On March 16, 2018, Empery Asset Master, Ltd., Empery Tax Efficient, LP and Empery Tax Efficient II, LP, (collectively, “Empery”), filed a complaint in the Supreme Court of the State of New York, relating to the notice of adjustment of both the exercise price of and the number of warrant shares issuable under warrants issued to Empery in January 2017. The Empery Suit alleges that, as a result of certain circumstances in connection with the February 2018 Offering, the January 2017 Warrants issued to Empery provide for adjustments to both the exercise price of the warrants and the number of warrant shares issuable upon such exercise. Empery seeks monetary damages and declaratory relief under theories of breach of contract or contract reformation predicated on mutual mistake. The Company intends to vigorously defend all claims. Given the early stage of the litigation, it is not possible to determine or assess the probability of any particular outcome. Certain officer agreements contain a change of control provision for payment of severance arrangements. In March and April, 2018, the Company entered into two new office lease agreements, which will expire on April 2021 and June 2023, respectively. Future minimum commitments for each of the fiscal years ending March 31, are as follows: Year Ended March 31, Operating Leases 2019 $ 33,500 2020 87,900 2021 90,100 2022 65,400 2023 64,700 2024 16,300 Total $ 357,900 Rent expense for the three months ended December 31, 2018 and 2017 was $34,716 and $47,672, respectively. Rent expense for the nine months ended December 31, 2018 and 2017 was $84,261 and $68,066, respectively

Reclassification of Prior Perio

Reclassification of Prior Period Presentation	9 Months Ended
	Dec. 31, 2018
Reclassification Of Prior Period Presentation
Reclassification of Prior Period Presentation	NOTE 9 RECLASSIFICATION OF PRIOR PERIOD PRESENTATION Certain amounts from the prior period condensed financial statements have been reclassified to conform with the current period presentation. The following has been reclassified. Three Months Ended December 31, 2017 Nine Months Ended December 31, 2017 As Previously Reported Reclassified Adjusted As Previously Reported Reclassified Adjusted Research and development $ 1,214,268 $ (2,672 ) $ 1,211,596 $ 2,999,627 $ (69,949 ) $ 2,929,678 General and administrative 1,169,763 (3,328 ) 1,166,435 4,509,075 68,932 4 578,007 Other income (loss) 644,449 - 644,449 (4,250,874 ) (4,983 ) (4,255,857 ) Income tax (benefit) (6,000 ) 6,000 - (6,000 ) 6,000 - $ 3,022,480 $ - $ 3,022,480 $ 3,251,828 $ - $ 3,251,828

Subsequent Events

Subsequent Events	9 Months Ended
	Dec. 31, 2018
Subsequent Events [Abstract]
Subsequent Events	NOTE 10 SUBSEQUENT EVENTS On January 23, 2019, the Company entered into an agreement for commercial rights (“the License Agreement”) with Circassia Pharmaceuticals plc, (located in the United Kingdom) for persistent pulmonary hypertension of the newborn (PPHN) and future related indications at concentrations of < From January 17, 2019 through January 23, 2019, the Company issued and sold 65,000 shares of common stock for proceeds of $279,265 at an average price of $4.30 per share to LPC. See note 5.

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	9 Months Ended
	Dec. 31, 2018
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States (“US GAAP”) for interim financial information and with the instructions to Form 10-Q. Accordingly, they do not include all of the information and footnotes required to be presented for complete financial statements. The accompanying condensed consolidated financial statements reflect all adjustments (consisting only of normal recurring items) which are, in the opinion of management, necessary for a fair presentation of the results for the interim periods presented. The accompanying condensed consolidated Balance Sheet as of March 31, 2018 has been derived from the audited consolidated financial statements included in our Transitional Report on Form 10-KT for the three months ended March 31, 2018 and for the year then ended December 31, 2017, respectively. The condensed consolidated financial statements and related disclosures have been prepared with the assumption that users of the interim financial information have read or have access to the audited consolidated financial statements and the related notes thereto included in the Transitional Report on Form 10-KT for the three months ended March 31, 2018 and for year ended December 31, 2017, respectively, which was filed with the United States Securities and Exchange Commission, (“SEC”), on June 15, 2018.
Principles of Consolidation	Principles of Consolidation These condensed consolidated financial statements include the accounts of the Company since the effective date of the reverse capitalization and the accounts of AIT since inception. All intercompany balances and transactions have been eliminated in the accompanying condensed financial statements.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses for the reporting period. Actual results could differ from those estimates. The Company’s significant estimates are warrant liabilities valuation, valuation of option liability, and valuation of deferred taxes.
Cash and Cash Equivalents	Cash and Cash Equivalents Cash equivalents are short-term highly liquid investments that are readily convertible to cash with original maturities of three months or less at acquisition.
Concentration of Credit Risk	Concentration of Credit Risk Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of cash, cash equivalents, restricted cash and marketable securities. Cash and cash equivalents are invested in major banks in Israel and U.S. Management believes that the financial institutions that hold the Company’s investments are financially sound and, accordingly, minimal credit risk exists with respect to these investments. At times, such amounts may exceed federally insured limits. The Company has no off-balance-sheet concentration of credit risk such as foreign exchange contracts, option contracts or other foreign hedging arrangements.
Restricted Cash	Restricted Cash Restricted cash accounts are invested in bank deposit. These deposits serve as collateral for the Company’s vehicle lease.
Research and Development	Research and Development Research and development expenses are charged to the statement of comprehensive loss as incurred. Research and development expenses include salaries, costs incurred by outside laboratories, manufacturer’s, consultants, accredited facilities in connection with clinical trials and preclinical studies and stock based-compensation.
Foreign Exchange Transactions	Foreign Exchange Transactions AIT’s operations are in Israel and AITT’s operations are in the United States. The Company’s management believes that the U.S. dollar is the currency of the primary economic environment in which the Company operates and expects to continue to operate in the foreseeable future. Thus, the functional and reporting currency of the Company is the U.S. dollar. The Company’s transactions and balances denominated in U.S. dollars are presented at their original amounts. Non-dollar transactions and balances have been re-measured to U.S. dollars in accordance with the Accounting Standards Board (ASC) 830, “Foreign Currency Matter”.
Stock-Based Compensation	Stock-Based Compensation The Company measures the cost of employee services received in exchange for an award of equity instruments based on the grant-date fair value of the award. That cost is recognized over the period during which an employee is required to provide service in exchange for the award - the requisite service period. The grant-date fair value of employee share options is estimated using the Black-Scholes option pricing model. The risk-free interest rate assumptions were based upon the observed interest rates appropriate for the expected term of the equity instruments. The expected dividend yield was assumed to be zero as the Company has not paid any dividends since its inception and does not anticipate paying dividends in the foreseeable future. The expected volatility was based upon its peer group. The Company routinely reviews its calculation of volatility changes in future volatility, the Company’s life cycle, its peer group, and other factors. The Company uses the simplified method for share-based compensation to estimate the expected term for employee option awards for share-based compensation in its option-pricing model. The Company uses the contractual term for non- employee options to estimate the expected term, for share-based compensation in its option-pricing model. Compensation expense for warrants granted to non-employees is determined by the fair value of the consideration received or the fair value of the equity instruments issued, whichever is more reliably measured, and is recognized over the service period. The expense is subsequently adjusted to fair value at the end of each reporting period until such warrants vest, and the fair value of such instruments, as adjusted, is expensed over the related vesting period. Adjustments to fair value at each reporting date may result in income or expense, depending upon the estimate of fair value and the amount of expense recorded prior to the adjustment. The Company reviews its agreements and the future performance obligation with respect to the unvested warrants for its vendors or consultants. When appropriate, the Company will expense the unvested warrants at the time when management deems the service obligation for future services has ceased.
Investment in Marketable Securities	Investment in Marketable Securities Investments in marketable securities classified available for sale are carried at fair value with the changes in unrealized gains and losses recognized in the Company’s results of operations as other comprehensive income (loss) at each measurement date. Realized gains and (loss) from the sale of marketable securities are recognized in the statement of comprehensive loss using the specific identification method on a trade date basis.
Property and Equipment	Property and Equipment Property and equipment are stated at cost less accumulated depreciation and accumulated amortization. Depreciation and amortization is calculated using the straight-line method over the estimated useful life of the assets as follows: Computers equipment Three years Furniture and fixtures Seven years Clinical and medical equipment Fifteen years Leasehold improvements Shorter of term of lease or estimated useful life of the asset
Licensing Right to Use Technology	Licensing right to use technology Licensing right to use technology is an intangible asset resulting from the NitricGen transaction. The intangible asset was valued based upon the fair value of the options owed to NitricGen and the cash paid for this transaction. Intangible assets are considered to have an indefinite life until the completion or abandonment of the associated research and development project.
Income Taxes	Income Taxes The Company accounts for income taxes using the asset and liability method. Accordingly, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in the tax rate is recognized in income or expense in the period that the change is effective. Tax benefits are recognized when it is probable that the deduction will be sustained. A valuation allowance is established when it is more likely than not that all or a portion of a deferred tax asset will either expire before the Company is able to realize the benefit, or that future deductibility is uncertain. As of December 31, 2018, and March 31, 2018, the Company recorded a valuation allowance to the full extent of our net deferred tax assets since the likelihood of realization of the benefit does not meet the more likely than not threshold. On December 22, 2017, the U.S. government enacted comprehensive tax legislation commonly referred to as the Tax Act. The Tax Act reduces the federal corporate income tax rate from 35% to 21%, effective January 1, 2018, which the Company expects will positively impact its future effective tax rate and after-tax earnings in the United States. The Company recognized a decrease related to its federal deferred tax assets and deferred tax liabilities, before the valuation allowance. Because a change in the valuation allowance completely offsets the change in deferred taxes, there was no impact on the condensed consolidated financial statements related to the rate change. The Company files a U.S. Federal, various state, and International income tax returns. Uncertain tax positions are reviewed on an ongoing basis and are adjusted in light of changing facts and circumstances. Such adjustment is reflected in the tax provision when appropriate .
Net Income (Loss) Per Share	Net Income (Loss) Per Share Basic net income (loss) per share attributable to common stockholders is computed by dividing the net income (loss) attributable to common stockholders by the weighted average number of common shares outstanding for the period. Diluted net income (loss) per share is computed by dividing net income (loss) for the period by the weighted average number of shares of common stock and potentially dilutive common stock outstanding during the period. The dilutive effect of outstanding options, warrants, restricted stock and stock-based compensation awards is reflected in diluted net income (loss) per share by application of the treasury stock method. The calculation of diluted net income (loss) per share excludes all anti-dilutive common shares. For periods in which the Company has reported net losses, diluted net loss per share attributable to common stockholders is the same as basic net loss per share attributable to common stockholders, because dilutive common shares are not assumed to have been issued if their effect is anti-dilutive.
Recently Issued and Adopted Accounting Standards	Recently Issued and Adopted Accounting Standards In January 2017, the Financial Accounting Standards Board (“FASB”) FASB released Accounting Standards Update “ASU” 2017-01, Business Combinations: Clarifying the Definition of a Business, which clarifies the definition of a business with the objective of adding guidance to assist entities with evaluating whether transactions should be accounted for as acquisitions or disposals of assets or businesses. The amendments in this ASU should be applied prospectively and are effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years, with early adoption permitted. No disclosures are required at transition. The Company adopted this standard during the third quarter December 31, 2018 and this standard did not have a material impact on our condensed consolidated financial statements. In May 2017, the FASB issued ASU 2017-09, Compensation—Stock Compensation (Topic 718): Scope of Modification Accounting. This standard provides clarity and reduces both (1) diversity in practice and (2) cost and complexity when applying the guidance in Topic 718, Compensation-Stock Compensation, to a change to the terms or conditions of a share-based payment award. The Company adopted the standard commencing April 1, 2018. The impact of the adoption had no effect to the Company’s condensed consolidated financial statements. In July 2017, the FASB issued ASU 2017-11, Earnings Per Share (Topic 260), Distinguishing Liabilities from Equity (Topic 480) and Derivatives and Hedging (Topic 815): I. Accounting for Certain Financial Instruments with Down Round Features. II. Replacement of the Indefinite Deferral for Mandatorily Redeemable Financial Instruments of Certain Nonpublic Entities and Certain Mandatorily Redeemable Noncontrolling Interests with a Scope Exception. This ASU affects all entities that issue financial instruments (for example, warrants or convertible instruments) that include down round features. Part I of this ASU relates to the recognition, measurement, and earnings per share of certain freestanding equity-classified financial instruments that include down round features affect entities that present earnings per share in accordance with the guidance in Topic 260, Earnings Per Share, while in Part II does not have an accounting effect. The Company elected to adopt Accounting Standards Update 2017-11during the third quarter of 2018, retrospective to outstanding financial instruments with down round feature by means of cumulative-effect adjustment by increasing beginning additional paid-in capital by $6,194,292 and decreasing accumulated deficit by $516,358 as of April 1, 2018. In November 2016, the FASB issued ASU No. 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash (ASU 2016-18), which requires companies to include amounts generally described as restricted cash and restricted cash equivalents in cash and cash equivalents when reconciling beginning-of-period and end-of-period total amounts shown on the statement of cash flows. The Company adopted the standard commencing January 1, 2018 . The impact of the adoption was immaterial to the Company’s condensed consolidated financial statements.
Recently Issued and Not Adopted Accounting Standards	Recently Issued and not Adopted Accounting Standards In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842) (ASU 2016-02), which generally requires companies to recognize operating and financing lease liabilities and corresponding right-of-use assets on the balance sheet. This update is effective for annual periods beginning after December 15, 2018, and interim periods within those annual periods. The Company is evaluating the effect that this guidance will have on the Company’s condensed consolidated financial statements and related disclosures. In June 2018, the FASB issued ASU No. 2018-07, Stock-based Compensation: Improvements to Nonemployee Share-based Payment Accounting The Company is evaluating of evaluating the impact of this accounting standard update on the Company’s condensed consolidated financial statements. In August 2018, the SEC adopted the final rule under SEC Release No. 33-10532, “Disclosure Update and Simplification,” amending certain disclosure requirements that were redundant, duplicative, overlapping, outdated or superseded. In addition, the amendments expanded the disclosure requirements on the analysis of stockholders’ equity for interim financial statements. Under the amendments, an analysis of changes in each caption of stockholders’ equity presented in the balance sheet must be provided in a note or separate statement. The analysis should present a reconciliation of the beginning balance to the ending balance of each period for which a statement of comprehensive income is required to be filed. This final rule is effective on November 5, 2018. The Company is evaluating the impact of this guidance on its condensed financial statements. The Company anticipates its first presentation of changes in stockholders’ equity will be included in its Form 10-Q for the quarter ended June 30, 2019. In August 2018, the FASB issued ASU”) 2018-13, “ Fair Value Measurement (Topic 820): Disclosure Framework-Changes to the Disclosure Requirements for Fair Value Measurement

Significant Accounting Polici_3

Significant Accounting Policies (Tables)	9 Months Ended
	Dec. 31, 2018
Accounting Policies [Abstract]
Schedule of Useful Life of Assets	Depreciation and amortization is calculated using the straight-line method over the estimated useful life of the assets as follows: Computers equipment Three years Furniture and fixtures Seven years Clinical and medical equipment Fifteen years Leasehold improvements Shorter of term of lease or estimated useful life of the asset

Fair Value Measurement (Tables)

Fair Value Measurement (Tables)	9 Months Ended
	Dec. 31, 2018
Fair Value Disclosures [Abstract]
Schedule of Liabilities Related to Warrants	As of March 31, 2018 Level 1 Level 2 Level 3 Total Assets Cash and cash equivalents $ 732,542 $ - $ - $ 732,542 Restricted cash 5,692 - - 5,692 Marketable securities - - - - - Mutual funds 8,304,392 - - 8,304,392 $ 9,042,626 $ - $ - $ 9,042,626 As of March 31, 2018 Level 1 Level 2 Level 3 Total Liabilities Liabilities related to warrants $ - $ - $ 5,677,934 $ 5,677,934 As of December 31, 2018 Level 1 Level 2 Level 3 Total Assets Cash and cash equivalents $ 479,700 $ - $ - $ 479,700 Restricted cash 15,912 - - 15,912 Marketable securities - - - - - Mutual funds 2,573,605 - - 2,573,605 $ 3,069,217 $ - $ - $ 3,069,217 As of December 31, 2018 Level 1 Level 2 Level 3 Total Liabilities Liabilities related to warrants $ - $ - $ - $ - Options to be issued to NitricGen - - 295,000 295,000 $ - $ - $ 295,000 $ 295,000
Summary of Warrant and Option Liabilities	The following is a summary of the warrant and option liabilities from March 31, 2018 to December 31, 2018. Balance, March 31, 2018 $ 5,677,934 Fair market value of options to be issued to NitricGen 295,000 Reclassification of warrant liabilities to stockholders’ equity upon adoption of ASU-2017-11 (5,677,934 ) Balance, December 31, 2018 $ 295,000

Property and Equipment (Tables)

Property and Equipment (Tables)	9 Months Ended
	Dec. 31, 2018
Property, Plant and Equipment [Abstract]
Schedule of Property and Equipment	Property and equipment consist of the following as of December 31, 2018 and March 31, 2018, respectively: As of As of December 31, 2018 March 31, 2018 Clinical and medical equipment $ 357,795 $ 357,795 Computer equipment 40,283 28,727 Furniture and fixtures 39,747 1,889 Leasehold improvements 5,336 2,491 443,161 390,902 Accumulated depreciation and amortization (183,940 ) (137,718 ) $ 259,221 $ 253,184

Shareholder's Equity (Tables)

Shareholder's Equity (Tables)	9 Months Ended
	Dec. 31, 2018
Equity [Abstract]
Schedule of Option Activity	A summary of the Company’s options for the nine months ended December 31, 2018 is as follows: Number Of Options Weighted Average Exercise price Weighted Average Remaining Contractual Life Options outstanding as of April 1, 2018 510,904 $ 4.32 9.0 Granted 1,381,000 4.25 Exercised (9,601 ) 4.25 Forfeited (33,333 ) 4.25 Options outstanding as of December 31, 2018 1,848,970 $ 4.29 8.9 Options exercisable as of December 31, 2018 761,896 $ 4.29 8.6
Schedule of Assumption of Black-Scholes Option Pricing Model	December 31, 2018 December 31, 2017 Risk -free interest rate 2.5% - 3.2 % 2.1% - 3.5 % Expect volatility 80.7% - 83 % 75.2 % Expected terms (in years) 5-9.9 5.5-7.5 Dividend yield 0 % 0 %
Schedule of Stock-based Compensation Expense	The following summarizes the components of stock-based compensation expense which includes common stock, stock options, warrants and restricted stock in the condensed consolidated statements of comprehensive income (loss) for the three and nine months ended December 31, 2018 and 2017, respectively Three Months Ended Nine Months Ended December 31, December 31, 2018 2017 2018 2017 Research and development $ 88,830 $ 44,430 $ 187,103 $ 117,597 General and administrative 676,949 178,195 1,506,796 2,391,312 Total stock-based compensation expense $ 765,779 $ 222,625 $ 1,693,899 $ 2,508,909
Summary of Company's Outstanding Warrants	A summary of the Company’s outstanding warrants as of December 31, 2018 are as follows: Warrant Holders Number Of Warrants Exercise Price Date Of Expiration January 2017 offering - investors 1,701,616 $ 4.25 January 2022 (a) January 2017 offering - investors 1,701,616 $ 4.25 February 2022 (a) March 2017 offering - investors 220,988 $ 4.25 March 2021 March 2017 offering - placement agent 11,050 $ 4.25 March 2021 February 2018 offering - investors 2,299,802 $ 4.25 March 2022 Third-party 208,333 $ 4.80 January 2024 Total 6,143,405 (a) These warrants have down round protection.

Accrued Expenses (Tables)

Accrued Expenses (Tables)	9 Months Ended
	Dec. 31, 2018
Payables and Accruals [Abstract]
Summary of Accrued Expenses	A summary of the accrued expenses as of December 31, 2018 and March 31, 2018 is as follows: As of December 31, 2018 As of March 31, 2018 Vendors - clinical trials $ - $ 497,577 Professional fees 67,420 492,250 Income taxes payable 154,300 154,300 Employee salaries and benefits 34,337 104,110 Due to former owners, related to acquisition 34,268 33,124 Other 34,274 9,525 $ 324,599 $ 1,290,886

Basic and Diluted Net Income (L

Basic and Diluted Net Income (Loss) Per Common Share (Tables)	9 Months Ended
	Dec. 31, 2018
Earnings Per Share [Abstract]
Schedule of Computation of Basic and Diluted Net Loss Per Share	The computation of net loss per common share, basic and diluted, for the three and nine months ended December 31, 2018 and 2017 is as follows: Three Months Ended Nine Months Ended December 31, December 31, 2018 2017 2018 2017 Net income (loss) $ 957,581 $ (1,733,582 ) $ (6,500,528 ) $ (11,763,542 ) Net income (loss) - basic $ 0.11 $ (0.28 ) $ (0.77 ) $ (1.92 ) Net income loss – diluted $ 0.11 $ (0.28 ) $ (0.77 ) $ (1.92 ) Weighted average number of common shares outstanding – basic 8,530,580 6,097,225 8,466,243 6,127,225 Weighted average number of common shares outstanding - diluted 8,554,320 6,097,225 8,466,243 6,127,225
Schedule of Potential Anti-Dilutive Securities	The following potentially dilutive securities were not included in the calculation of diluted net income (loss) per share attributable to common stockholders because their effect would have been anti-dilutive for the periods presented: Three Months Ended Nine Months Ended December 31, December 31, 2018 2017 2018 2017 Common stock warrants 6,143,405 3,813,840 6,143,405 3,813,840 Common stock options 1,521,230 548,721 1,544,970 548,721 Restricted shares 304,000 246,312 304,000 246,312 Total 7,968,635 4,608,873 7,992,375 4,608,873

Commitments and Contingencies (

Commitments and Contingencies (Tables)	9 Months Ended
	Dec. 31, 2018
Commitments and Contingencies Disclosure [Abstract]
Schedule of Future Minimum Commitments	Future minimum commitments for each of the fiscal years ending March 31, are as follows: Year Ended March 31, Operating Leases 2019 $ 33,500 2020 87,900 2021 90,100 2022 65,400 2023 64,700 2024 16,300 Total $ 357,900

Reclassification of Prior Per_2

Reclassification of Prior Period Presentation (Tables)	9 Months Ended
	Dec. 31, 2018
Reclassification Of Prior Period Presentation
Schedule of Reclassification of Other Comprehensive Income	The following has been reclassified. Three Months Ended December 31, 2017 Nine Months Ended December 31, 2017 As Previously Reported Reclassified Adjusted As Previously Reported Reclassified Adjusted Research and development $ 1,214,268 $ (2,672 ) $ 1,211,596 $ 2,999,627 $ (69,949 ) $ 2,929,678 General and administrative 1,169,763 (3,328 ) 1,166,435 4,509,075 68,932 4 578,007 Other income (loss) 644,449 - 644,449 (4,250,874 ) (4,983 ) (4,255,857 ) Income tax (benefit) (6,000 ) 6,000 - (6,000 ) 6,000 - $ 3,022,480 $ - $ 3,022,480 $ 3,251,828 $ - $ 3,251,828

Organization and Business (Deta

Organization and Business (Details Narrative) - USD ($)	Aug. 10, 2018	Aug. 10, 2018	Dec. 29, 2016	Dec. 31, 2018	Dec. 31, 2017	Mar. 31, 2018
Common stock, par value				$ 0.0001		$ 0.0001
Ordinary shares, authorized				100,000,000		100,000,000
Preferred shares, authorized				10,000,000		10,000,000
Preferred shares, par value				$ 0.0001		$ 0.0001
Reverse stock split				one-for-100
Conversion ratio				1:1
Proceeds from issuance of common stock				$ 27,170
Negative operating cash flows				(5,748,315)	$ (4,906,646)
Accumulated losses				(37,586,650)		$ (30,569,764)
Cash equivalent and marketable securities				$ 3,069,217
Stock Purchase Agreement [Member]
Cash purchase price	$ 20,000,000	$ 20,000,000
Proceeds from issuance of common stock		$ 20,000,000
KokiCare Inc. [Member]
Cash purchase price			$ 320,000
Cash dividend			$ 2.50
KokiCare Inc. [Member] | Common Stock [Member]
Treasury stock shares acquired			90,000
Common stock, par value			$ 0.0001
Treasury stock shares acquired, value			$ 25,000

Significant Accounting Polici_4

Significant Accounting Policies (Details Narrative) - USD ($)		Apr. 02, 2018	Dec. 22, 2017	Dec. 31, 2018		Mar. 31, 2018
Federal statutory income tax rate			21.00%
Income tax, description				On December 22, 2017, the U.S. government enacted comprehensive tax legislation commonly referred to as the Tax Act. The Tax Act reduces the federal corporate income tax rate from 35% to 21%, effective January 1, 2018, which the Company expects will positively impact its future effective tax rate and after-tax earnings in the United States.
Accrued expenses related to uncertain tax positions				$ 154,300		$ 154,300
Increase in addtional paid in capital	[1]			5,677,934
Decrease in accumulated deficit		$ 516,358
Additional Paid-in Capital [Member]
Increase in addtional paid in capital		$ 6,194,292		$ 6,194,292	[1]
[1]	The Company elected to adopt Accounting Standards Update 2017-11 retrospective to outstanding financial instruments with down round feature by means of cumulative-effect adjustment to the beginning additional paid-in capital of $6,194,292 and accumulated deficit of $(516,358) as of April 1, 2018.

Significant Accounting Polici_5

Significant Accounting Policies - Schedule of Useful Life of Assets (Details)	9 Months Ended
	Dec. 31, 2018
Computer Equipment [Member]
Estimated useful life of assets	3 years
Furniture and Fixtures [Member]
Estimated useful life of assets	7 years
Clinical and Medical Equipment [Member]
Estimated useful life of assets	15 years
Leasehold Improvements [Member]
Estimated useful life of assets, description	Shorter of term of lease or estimated useful life of the asset

Fair Value Measurement (Details

Fair Value Measurement (Details Narrative) - USD ($)		Apr. 02, 2018	Dec. 31, 2018
Increase in addtional paid in capital	[1]		$ 5,677,934
Decrease in accumulated deficit		$ 516,358
Additional Paid-in Capital [Member]
Increase in addtional paid in capital		$ 6,194,292	$ 6,194,292	[1]
[1]	The Company elected to adopt Accounting Standards Update 2017-11 retrospective to outstanding financial instruments with down round feature by means of cumulative-effect adjustment to the beginning additional paid-in capital of $6,194,292 and accumulated deficit of $(516,358) as of April 1, 2018.

Fair Value Measurement - Schedu

Fair Value Measurement - Schedule of Liabilities Related to Warrants (Details) - USD ($)	9 Months Ended
	Dec. 31, 2018	Mar. 31, 2018
Assets	$ 3,069,217	$ 9,042,626
Marketable securities, total	2,573,605	8,304,392
Liabilities related to warrants		5,677,934
Options to be issued to NitricGen	295,000
NitricGen, Inc [Member
Options to be issued to NitricGen	295,000
Cash and Cash Equivalents [Member]
Assets	479,700	732,542
Restricted Cash [Member]
Assets	15,912	5,692
Mutual Funds [Member]
Marketable securities, total	2,573,605	8,304,392
Fair Value, Inputs, Level 1 [Member]
Assets	3,069,217	9,042,626
Liabilities related to warrants
Options to be issued to NitricGen
Fair Value, Inputs, Level 1 [Member] | NitricGen, Inc [Member
Options to be issued to NitricGen
Fair Value, Inputs, Level 1 [Member] | Cash and Cash Equivalents [Member]
Assets	479,700	732,542
Fair Value, Inputs, Level 1 [Member] | Restricted Cash [Member]
Assets	15,912	5,692
Fair Value, Inputs, Level 1 [Member] | Mutual Funds [Member]
Marketable securities, total	2,573,605	8,304,392
Fair Value, Inputs, Level 2 [Member]
Assets
Liabilities related to warrants
Options to be issued to NitricGen
Fair Value, Inputs, Level 2 [Member] | NitricGen, Inc [Member
Options to be issued to NitricGen
Fair Value, Inputs, Level 2 [Member] | Cash and Cash Equivalents [Member]
Assets
Fair Value, Inputs, Level 2 [Member] | Restricted Cash [Member]
Assets
Fair Value, Inputs, Level 2 [Member] | Mutual Funds [Member]
Marketable securities, total
Fair Value, Inputs, Level 3 [Member]
Assets
Liabilities related to warrants		5,677,934
Options to be issued to NitricGen	295,000
Fair Value, Inputs, Level 3 [Member] | NitricGen, Inc [Member
Options to be issued to NitricGen	295,000
Fair Value, Inputs, Level 3 [Member] | Cash and Cash Equivalents [Member]
Assets
Fair Value, Inputs, Level 3 [Member] | Restricted Cash [Member]
Assets
Fair Value, Inputs, Level 3 [Member] | Mutual Funds [Member]
Marketable securities, total

Fair Value Measurement - Summar

Fair Value Measurement - Summary of Warrant and Option Liabilities (Details)	9 Months Ended
	Dec. 31, 2018USD ($)
Fair market value of options to be issued to NitricGen	$ 295,000
Warrant Liability [Member]
Balance, beginning	5,677,934
Fair market value of options to be issued to NitricGen	295,000
Reclassification of warrant liability to stockholders' equity upon adoption of ASU-2017-11	(5,677,934)
Balance, ending	$ 295,000

Property and Equipment - (Detai

Property and Equipment - (Details Narrative) - USD ($)	3 Months Ended		9 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2018	Dec. 31, 2017
Property, Plant and Equipment [Abstract]
Depreciation and amortization expense	$ 15,638	$ 14,487	$ 46,222	$ 31,932

Property and Equipment - Schedu

Property and Equipment - Schedule of Property and Equipment (Details) - USD ($)	Dec. 31, 2018	Mar. 31, 2018
Property and equipment, gross	$ 443,161	$ 390,902
Accumulated depreciation and amortization	(183,940)	(137,718)
Property and equipment, net	259,221	253,184
Clinical and Medical Equipment [Member]
Property and equipment, gross	357,795	357,795
Computer Equipment [Member]
Property and equipment, gross	40,283	28,727
Furniture and Fixtures [Member]
Property and equipment, gross	39,747	1,889
Leasehold Improvements [Member]
Property and equipment, gross	$ 5,336	$ 2,491

Shareholder's Equity (Details N

Shareholder's Equity (Details Narrative) - USD ($)

Dec. 26, 2018

Aug. 10, 2018

Aug. 10, 2018

Aug. 02, 2018

Feb. 16, 2018

Sep. 07, 2016

Nov. 30, 2018

Aug. 31, 2018

Feb. 28, 2018

Jul. 31, 2017

Jan. 31, 2017

Dec. 31, 2018

Dec. 31, 2017

Dec. 31, 2018

Dec. 31, 2018

Dec. 31, 2017

May 10, 2018

Mar. 31, 2018

Jan. 13, 2017

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Warrants to purchase of common stock

29,763

Common stock , par value

$ 0.0001

$ 0.0001

$ 0.0001

$ 0.0001

Warrant exercise price

$ 4.25

$ 4.80

Stock-based compensation

$ 59,507

$ 765,779

$ 222,625

$ 1,693,899

$ 2,508,909

Proceeds from issuance of common stock

$ 27,170

Common stock reserved for issuance

188,527

188,527

188,527

Aggregate intrinsic value of outstanding options

$ 623,900

$ 623,900

$ 623,900

Aggregate intrinsic value of exercisable options

343,800

343,800

343,800

Aggregate intrinsic value of exercised

27,300

27,300

27,300

Unrecognized stock based compensation expense

1,434,100

$ 1,434,100

$ 1,434,100

Weighted average remaining service period

1 year 9 months 18 days

Weighted average fair value of options granted

$ 2.79

$ 2.23

Research and Development Expense [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Stock-based compensation

$ 55,900

$ 0

2013 Incentive Option Plan [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Number of common stock issued

2,100,000

1,500,000

Options vesting terms, description

Expire up to ten years after the grant date

Additional shares authorized

600,000

1,033,324

Restricted Shares [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Stock-based compensation

$ 0

$ 2,063,791

Cancellation of unvested restricted shares

$ 84,400

Warrant [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Warrants expiration term

Jan. 31, 2024

Jan. 31, 2024

Jan. 31, 2024

January 17, 2019 through January 23, 2019 [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Shares issued price per share

$ 4.30

$ 4.30

$ 4.30

Minimum [Member] | 2013 Incentive Option Plan [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Options vesting terms

2 years

Maximum [Member] | 2013 Incentive Option Plan [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Options vesting terms

4 years

Stock Purchase Agreement [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Cash purchase price

$ 20,000,000

$ 20,000,000

Proceeds from issuance of common stock

20,000,000

Purchase price description

The Company may direct LPC, at its sole discretion, and subject to certain conditions, to purchase up to 10,000 shares of common stock on any business day, provided that at least one business day has passed since the most recent purchase. The amount of a purchase may be increased under certain circumstances provided, however that LPC cannot make any single purchase that exceeds $750,000. The purchase price of shares of common stock related to the future funding will be based on the then prevailing market prices of such shares at the time of sales as described in the Stock Purchase Agreement.

Stock Purchase Agreement [Member] | January 17, 2019 through January 23, 2019 [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Net proceeds from issuance of offering

$ 279,265

Common stock remaining balance

$ 19,148,565

Stock Purchase Agreement [Member] | Minimum [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Cash purchase price

$ 750,000

Stock Purchase Agreement [Member] | LPC [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Net proceeds from issuance of offering

$ 27,170

Number of common stock issued

127,000

Offering expenses

$ 545,000

Shares issued price per share

$ 4.51

$ 4.51

$ 4.51

Purchase Agreement [Member] | LPC [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Warrants to purchase of common stock

10,000

10,000

Proceeds from issuance of common stock

$ 20,000,000

Option Agreement [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Warrants to purchase of common stock

178,570

Warrant exercise price

$ 4.80

Acquisition cost to purchase intellectual property

$ 25,000

Stock options exercised

500,000

Warrants expiration term

Jan. 31, 2024

Board of Directors [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Warrant exercise price

$ 4.25

Director [Member] | Restricted Shares [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Number of restricted shares issued

492,624

Restricted stock units vested

246,312

Cancellation of unvested restricted shares

$ 246,312

Directors and Officers [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Stock-based compensation

$ 462,339

$ 666,565

Options to purchase common stock

810,000

810,000

Third Party [Member] | Warrant [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Warrants to purchase of common stock

29,763

178,570

Warrant exercise price

$ 4.80

$ 4.80

Tranche A Warrants [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Warrants to purchase of common stock

2,299,802

Warrant exercise price

$ 4.25

Net proceeds from issuance of offering

$ 8,734,320

Tranche B Warrants [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Warrant exercise price

$ 4.25

Securities Purchase Agreement [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Warrants to purchase of common stock

4,599,604

Common stock , par value

$ 0.0001

Warrant exercise price

$ 0.01

Shareholder's Equity - Schedule

Shareholder's Equity - Schedule of Option Activity (Details) - $ / shares	9 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Weighted average exercise price, granted	$ 2.79	$ 2.23
Weighted average remaining contractual life outstanding at ending of period	1 year 9 months 18 days
Employees and Directors [Member]
Number of options outstanding at beginning of period	510,904
Number of options, granted	1,381,000
Number of options, exercised	(9,601)
Number of options, forfeited	(33,333)
Number of options outstanding at end of period	1,848,970
Number of options exercisable at end of year	761,896
Weighted average exercise price outstanding at beginning of period	$ 4.32
Weighted average exercise price, granted	4.25
Weighted average exercise price, exercised	4.25
Weighted average exercise price, forfeited	4.25
Weighted average exercise price outstanding at end of period	4.29
Weighted average exercise price exercisable at end of year	$ 4.29
Weighted average remaining contractual life outstanding at beginning of period	9 years
Weighted average remaining contractual life outstanding at ending of period	8 years 10 months 25 days
Weighted average remaining contractual life exercisable at end of period	8 years 7 months 6 days

Shareholder's Equity - Schedu_2

Shareholder's Equity - Schedule of Assumption of Black-Scholes Option Pricing Model (Details)	9 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Expected volatility		75.20%
Dividend yield	0.00%	0.00%
Minimum [Member]
Risk-free interest rate	2.50%	2.10%
Expected volatility	80.70%
Expected term (in years)	5 years	5 years 6 months
Maximum [Member]
Risk-free interest rate	3.20%	3.50%
Expected volatility	83.00%
Expected term (in years)	9 years 10 months 25 days	7 years 6 months

Shareholder's Equity - Schedu_3

Shareholder's Equity - Schedule of Stock-based Compensation Expense (Details) - USD ($)	1 Months Ended	3 Months Ended		9 Months Ended
	Feb. 28, 2018	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2018	Dec. 31, 2017
Share-based compensation expense	$ 59,507	$ 765,779	$ 222,625	$ 1,693,899	$ 2,508,909
Research and Development [Member]
Share-based compensation expense		88,830	44,430	187,103	117,597
General and Administrative [Member]
Share-based compensation expense		$ 676,949	$ 178,195	$ 1,506,796	$ 2,391,312

Shareholder's Equity - Summary

Shareholder's Equity - Summary of Company's Outstanding Warrants (Details) - $ / shares		9 Months Ended
		Dec. 31, 2018	May 10, 2018	Feb. 28, 2018
Number of warrants		6,143,405
Excercise price			$ 4.80	$ 4.25
Third Party [Member]
Number of warrants		208,333
Excercise price		$ 4.80
Date of Expiration		Jan. 31, 2024
January 2017 [Member] | Investors [Member]
Number of warrants	[1]	1,701,616
Excercise price	[1]	$ 4.25
Date of Expiration	[1]	Jan. 31, 2022
January 2017 [Member] | Investors One [Member]
Number of warrants	[1]	1,701,616
Excercise price	[1]	$ 4.25
Date of Expiration	[1]	Feb. 28, 2022
March 2017 [Member] | Investors [Member]
Number of warrants		220,988
Excercise price		$ 4.25
Date of Expiration		Mar. 31, 2021
March 2017 [Member] | Placement Agent [Member]
Number of warrants		11,050
Excercise price		$ 4.25
Date of Expiration		Mar. 31, 2021
February 2018 [Member] | Investors [Member]
Number of warrants		2,299,802
Excercise price		$ 4.25
Date of Expiration		Mar. 31, 2022
[1]	These warrants have down round protection.

Accrued Expenses - Summary of A

Accrued Expenses - Summary of Accrued Expenses (Details) - USD ($)	Dec. 31, 2018	Mar. 31, 2018
Payables and Accruals [Abstract]
Vendors- clinical trials		$ 497,577
Professional fees	67,420	492,250
Income taxes payable	154,300	154,300
Employee salaries and benefits	34,337	104,110
Due to former owners, related to acquisition	34,268	33,124
Other	34,274	9,525
Accrued expenses, Total	$ 324,599	$ 1,290,886

Basic and Diluted Net Income _2

Basic and Diluted Net Income (Loss) Per Common Share - Schedule of Computation of Basic and Diluted Net Loss Per Share (Details) - USD ($)	3 Months Ended		9 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2018	Dec. 31, 2017
Earnings Per Share [Abstract]
Net income (loss)	$ 957,581	$ (1,733,582)	$ (6,500,528)	$ (11,763,542)
Net income (loss) - basic	$ 0.11	$ (0.28)	$ (0.77)	$ (1.92)
Net income loss - diluted	$ 0.11	$ (0.28)	$ (0.77)	$ (1.92)
Weighted average number of common shares outstanding - basic	8,530,580	6,097,254	8,466,243	6,127,225
Weighted average number of common shares outstanding - diluted	8,554,320	6,097,254	8,466,243	6,127,255

Basic and Diluted Net Income _3

Basic and Diluted Net Income (Loss) Per Common Share - Schedule of Potential Anti-Dilutive Securities (Details) - shares	3 Months Ended		9 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2018	Dec. 31, 2017
Total	7,968,635	4,608,873	7,992,375	4,608,873
Common Stock Warrants [Member]
Total	6,143,405	3,813,840	6,143,405	3,813,840
Common Stock Options [Member]
Total	1,521,230	548,721	1,544,970	548,721
Restricted Shares [Member]
Total	304,000	246,312	304,000	246,312

Commitments and Contingencies_2

Commitments and Contingencies (Details Narrative) - USD ($)

Jan. 31, 2018

Sep. 07, 2016

Oct. 22, 2013

Apr. 30, 2018

Mar. 31, 2018

Dec. 31, 2018

Mar. 31, 2018

Dec. 31, 2017

Dec. 31, 2018

Dec. 31, 2017

May 10, 2018

Feb. 28, 2018

Warrants to purchase ordinary shares

29,763

Exercise price

$ 4.80

$ 4.25

Volatility rate

75.20%

Increase in intangible assets

$ 495,000

Increase to the liability

295,000

Decrease in research and development

200,000

Effect of corrections in statement of comprehensive income loss

200,000

Rent expense

$ 34,716

$ 47,672

$ 84,261

$ 68,066

Intangible Assets [Member]

Quantifying misstatement in current year financial statements, amount

$ 495,000

Research and Development [Member]

Quantifying misstatement in current year financial statements, amount

$ 200,000

NitricGen, Inc [Member

Future payments based on certain milestones

$ 2,000,000

Fair value of options

295,000

Milestone payments and fair value of options

$ 495,000

Patent License Agreement [Member]

Non-refundable upfront fee paid

$ 150,000

Royalty percentage owed on sale of licensed product revenues

5.00%

Minimum amount of royalties owed per annum

$ 50,000

Option Agreement [Member]

Acquisition cost to purchase intellectual property

$ 25,000

Warrants to purchase ordinary shares

178,570

Exercise price

$ 4.80

Warrants expiration term

Jan. 31, 2024

Execution Agreement [Member | NitricGen, Inc [Member

Exercise price

$ 6.90

Future payments based on certain milestones

$ 100,000

Proceeds from payment to related pary

$ 100,000

Options to purchase common stock

100,000

Option expiration term

5 years

Volatility rate

79.90%

Risk-free interest rate

2.50%

Lease Agreement [Member]

Lease agreement expiration, description

Expire on April 2021 and June 2023

Expire on April 2021 and June 2023

Commitments and Contingencies -

Commitments and Contingencies - Schedule of Future Minimum Commitments (Details)	Mar. 31, 2018USD ($)
Commitments and Contingencies Disclosure [Abstract]
2,019	$ 33,500
2,020	87,900
2,021	90,100
2,022	65,400
2,023	64,700
2,024	16,300
Total	$ 357,900

Reclassification of Prior Per_3

Reclassification of Prior Period Presentation - Schedule of Reclassification of Other Comprehensive Income (Details) - USD ($)	3 Months Ended		9 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2018	Dec. 31, 2017
Research and development	$ 586,696	$ 1,211,596	$ 2,299,267	$ 2,929,678
General and administrative	1,817,543	1,166,435	4,272,799	4,578,007
Other income (loss)	$ 3,361,820	644,449	$ 71,538	(4,255,857)
Income tax (benefit)
Total		3,022,480		3,251,828
Previously Reported [Member]
Research and development		1,214,268		2,999,627
General and administrative		1,169,763		4,509,075
Other income (loss)		644,449		(4,250,874)
Income tax (benefit)		(6,000)		(6,000)
Total		3,022,480		3,251,828
Restatement Adjustment [Member]
Research and development		(2,672)		(69,949)
General and administrative		(3,328)		68,932
Other income (loss)				(4,983)
Income tax (benefit)		6,000		6,000
Total

Subsequent Events (Details Narr

Subsequent Events (Details Narrative) - USD ($)	Jan. 23, 2019	Jan. 23, 2019	Dec. 31, 2018	Dec. 31, 2017	Mar. 31, 2018
Proceeds from issuance of common stock			$ 27,170
Common stock price per share			$ 0.0001		$ 0.0001
Subsequent Event [Member]
Number of common stock issued		65,000
Proceeds from issuance of common stock		$ 279,265
Common stock price per share	$ 4.30	$ 4.30
Subsequent Event [Member] | License Agreement [Member]
Proceeds from up front and regulatory milestones	$ 31,500,000
Subsequent Event [Member] | License Agreement [Member] | First Two Milestones [Member]
Proceeds from up front and regulatory milestones	10,500,000
Subsequent Event [Member] | License Agreement [Member] | Maximum [Member]
Proceeds from up front and regulatory milestones	$ 32,500,000
Royalties received, percentage	20.00%
Subsequent Event [Member] | License Agreement [Member] | Minimum [Member]
Royalties received, percentage	15.00%