Aethlon Medical (AEMD) 10-K 28 Jun 22 2022 FY Annual report Financial data

Cover

Cover - USD ($)	12 Months Ended
	Mar. 31, 2022	Jun. 27, 2022	Sep. 30, 2021
Cover [Abstract]
Document Type	10-K
Amendment Flag	false
Document Annual Report	true
Document Transition Report	false
Document Period End Date	Mar. 31, 2022
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2022
Current Fiscal Year End Date	--03-31
Entity File Number	001-37487
Entity Registrant Name	AETHLON MEDICAL, INC.
Entity Central Index Key	0000882291
Entity Tax Identification Number	13-3632859
Entity Incorporation, State or Country Code	NV
Entity Address, Address Line One	11555 Sorrento Valley Road
Entity Address, Address Line Two	Suite 203
Entity Address, City or Town	San Diego
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	92121
City Area Code	619
Local Phone Number	941-0360
Title of 12(b) Security	COMMON STOCK, $0.001 PAR VALUE
Trading Symbol	AEMD
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Public Float			$ 58,900,000
Entity Common Stock, Shares Outstanding		15,830,218
Auditor Firm ID	23
Auditor Name	Baker Tilly US, LLP
Auditor Location	San Diego, California

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($)	Mar. 31, 2022	Mar. 31, 2021
CURRENT ASSETS
Cash	$ 17,072,419	$ 9,861,575
Accounts receivable	127,965	149,082
Prepaid expenses and other current assets	956,623	341,081
TOTAL CURRENT ASSETS	18,157,007	10,351,738
Property and equipment, net	441,238	160,976
Right-of-use lease asset	696,698	40,363
Patents, net	2,200	56,954
Restricted cash	87,506	46,726
Deposits	33,305	12,159
TOTAL ASSETS	19,417,954	10,668,916
CURRENT LIABILITIES
Accounts payable	499,962	337,678
Due to related parties	155,742	118,520
Deferred revenue	344,547	114,849
Lease liability, current portion	126,905	42,543
Other current liabilities	696,893	761,636
TOTAL CURRENT LIABILITIES	1,824,049	1,375,226
Lease liability, less current portion	602,505	0
TOTAL LIABILITIES	2,426,554	1,375,226
STOCKHOLDERS’ EQUITY
Common stock, $0.001 par value, 30,000,000 shares authorized at March 31, 2022 and 2021; 15,419,163 and 12,150,597 issued and outstanding at March 31, 2022 and 2021, respectively	15,421	12,152
Additional paid-in capital	147,446,868	129,331,542
Accumulated deficit	(130,329,181)	(119,913,090)
TOTAL AETHLON MEDICAL, INC. STOCKHOLDERS’ EQUITY BEFORE NONCONTROLLING INTERESTS	17,133,108	9,430,604
NONCONTROLLING INTERESTS	(141,708)	(136,914)
TOTAL STOCKHOLDERS’ EQUITY	16,991,400	9,293,690
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$ 19,417,954	$ 10,668,916

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Mar. 31, 2022	Mar. 31, 2021
Statement of Financial Position [Abstract]
Common stock par value (in dollars per share)	$ 0.001	$ 0.001
Common stock shares authorized	30,000,000	30,000,000
Common stock issued	15,419,163	12,150,597
Common stock outstanding	15,419,163	12,150,597

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)	12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
REVENUES:
Total revenues	$ 294,165	$ 659,104
OPERATING COSTS AND EXPENSES
Professional fees	2,634,026	2,637,664
Payroll and related expenses	4,625,802	3,454,941
General and administrative	3,455,222	2,457,998
Total operating expenses	10,715,050	8,550,603
OPERATING LOSS	(10,420,885)	(7,891,499)
NET LOSS BEFORE NONCONTROLLING INTERESTS	(10,420,885)	(7,891,499)
LOSS ATTRIBUTABLE TO NONCONTROLLING INTERESTS	(4,794)	(4,790)
NET LOSS ATTRIBUTABLE TO COMMON STOCKHOLDERS	$ (10,416,091)	$ (7,886,709)
Basic and diluted net loss per share attributable to common stockholders	$ (0.71)	$ (0.65)
Weighted average number of common shares outstanding - basic and diluted	14,756,967	12,090,884
Govt Contract And Grant Revenue [Member]
REVENUES:
Total revenues	$ 294,165	$ 659,104

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($)	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Noncontrolling Interest [Member]	Total
BALANCE - MARCH 31, 2021 at Mar. 31, 2020	$ 9,368	$ 121,426,563	$ (112,026,381)	$ (132,124)	$ 9,277,426
Beginning balance, shares at Mar. 31, 2020	9,366,873
Issuances of common stock for cash under at the market program	$ 2,686	7,258,183			7,260,869
Issuances of common stock for cash under at the market program, shares	2,685,600
Issuance of common shares upon vesting of restricted stock units and net stock option exercise	$ 98	(132,625)			(132,527)
Issuance of common shares upon vesting of restricted stock units and net stock option exercise, shares	98,124
Stock-based compensation expense		779,421			779,421
Net loss			(7,886,709)	(4,790)	(7,891,499)
BALANCE - MARCH 31, 2022 at Mar. 31, 2021	$ 12,152	129,331,542	(119,913,090)	(136,914)	9,293,690
Ending balance, shares at Mar. 31, 2021	12,150,597
Issuances of common stock for cash under at the market program	$ 626	4,947,159			4,947,785
Issuances of common stock for cash under at the market program, shares	626,000
Issuances of common stock for cash in registered direct financing	$ 1,381	11,657,663			11,659,044
Issuances of common stock for cash in registered direct financing, shares	1,380,555
Issuances of common stock for cash under warrant exercises	$ 531	820,407			820,938
Issuances of common stock for cash under warrant exercises, shares	531,167
Issuances of common stock for cash under stock option exercises	$ 11	28,314			28,325
Issuances of common stock for cash under stock option exercises, shares	11,562
Issuances of common stock under cashless warrant exercises	$ 676	(676)
Issuances of common stock under cashless warrant exercises, shares	675,554
Issuance of common shares upon vesting of restricted stock units and net stock option exercise	$ 44	(88,162)			(88,118)
Issuance of common shares upon vesting of restricted stock units and net stock option exercise, shares	43,728
Stock-based compensation expense		750,621			750,621
Net loss			(10,416,091)	(4,794)	(10,420,885)
BALANCE - MARCH 31, 2022 at Mar. 31, 2022	$ 15,421	$ 147,446,868	$ (130,329,181)	$ (141,708)	$ 16,991,400
Ending balance, shares at Mar. 31, 2022	15,419,163

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Cash flows from operating activities:
Net loss	$ (10,420,885)	$ (7,891,499)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	123,685	39,939
Stock based compensation	750,621	779,421
Accretion of right-of-use lease asset	30,532	(2,491)
Changes in operating assets and liabilities:
Accounts receivable	21,117	57,647
Prepaid expenses and other current assets	(636,688)	(111,477)
Accounts payable and other current liabilities	97,541	341,858
Deferred revenue	229,698	14,849
Due to related parties	37,222	6,813
Net cash used in operating activities	(9,767,157)	(6,764,940)
Cash flows from investing activities:
Purchases of property and equipment	(349,193)	(59,881)
Net cash used in investing activities	(349,193)	(59,881)
Cash flows from financing activities:
Tax withholding payments or tax equivalent payments for net share settlement of restricted stock units	(88,118)	(132,527)
Net proceeds from the issuance of common stock and exercise of warrants	17,456,092	7,260,869
Net cash provided by financing activities	17,367,974	7,128,342
Net increase in cash and restricted cash	7,251,624	303,521
Cash and restricted cash at beginning of year	9,908,301	9,604,780
Cash and restricted cash at end of year	17,159,925	9,908,301
Supplemental information of non-cash investing and financing activities:
Issuances of common stock under cashless warrant exercises	676	0
Initial recognition of right-of-use lease asset and lease liability	744,430	0
Issuance of shares under vested restricted stock units, net stock option exercises and unvested share issuance for services	44	98
Reconciliation of cash, cash equivalents and restricted cash to the consolidated balance sheets:
Cash and cash equivalents	17,072,419	9,861,575
Restricted cash	87,506	46,726
Cash and restricted cash	$ 17,159,925	$ 9,908,301

ORGANIZATION, LIQUIDITY AND SUM

ORGANIZATION, LIQUIDITY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Mar. 31, 2022
Accounting Policies [Abstract]
ORGANIZATION, LIQUIDITY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	1. ORGANIZATION, LIQUIDITY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES ORGANIZATION Aethlon Medical, Inc. (collectively, “Aethlon”, the “Company”, “we” or “us”) is a medical technology company focused on developing products to diagnose and treat life and organ threatening diseases. The Aethlon Hemopurifier is a clinical-stage immunotherapeutic device designed to combat cancer and life-threatening viral infections. In cancer, the Hemopurifier is designed to deplete the presence of circulating tumor-derived exosomes that promote immune suppression, seed the spread of metastasis and inhibit the benefit of leading cancer therapies. The U.S. Food and Drug Administration, or FDA, has designated the Hemopurifier as a “Breakthrough Device” for two independent indications: · · We believe the Hemopurifier can be a substantial advance in the treatment of patients with advanced and metastatic cancer through the clearance of exosomes that promote the growth and spread of tumors through multiple mechanisms. We are currently conducting a clinical trial in patients with advanced and metastatic head and neck cancer. We are initially focused on the treatment of solid tumors, including head and neck cancer, gastrointestinal cancers and other cancers. As we advance our clinical trials, we are in close contact with our clinical sites to navigate and assess the impact of the COVID-19 global pandemic on our clinical trials and current timelines. On October 4, 2019, the FDA approved our Investigational Device Exemption, or IDE, application to initiate an Early Feasibility Study, or EFS, of the Hemopurifier in patients with head and neck cancer in combination with standard of care pembrolizumab (Keytruda). The primary endpoint for the EFS, which is designed to enroll 10 to 12 subjects at a single center, is safety, with secondary endpoints including measures of exosome clearance and characterization, as well as response and survival rates. This study, which is being conducted at the UPMC Hillman Cancer Center in Pittsburgh, Pennsylvania, has treated two patients and is in the process of recruiting additional patients. We are considering adding one or more additional sites to this trial to accelerate patient recruitment and we are also considering starting additional trials in other forms of cancer. We also believe the Hemopurifier can be part of the broad-spectrum treatment of life-threatening highly glycosylated, or carbohydrate coated, viruses that are not addressed with an already approved treatment. In small-scale or early feasibility human studies, the Hemopurifier has been used in the past to treat individuals infected with human immunodeficiency virus, or HIV, hepatitis C, and Ebola. Additionally, in vitro On June 17, 2020, the FDA approved a supplement to our open IDE for the Hemopurifier in viral disease to allow for the testing of the Hemopurifier in patients with SARS-CoV-2/COVID-19 in a New Feasibility Study. That study is designed to enroll up to 40 subjects at up to 20 centers in the U.S. Subjects will have established laboratory diagnosis of COVID-19, be admitted to an intensive care unit, or ICU, and will have acute lung injury and/or severe or life-threatening disease, among other criteria. Endpoints for this study, in addition to safety, include reduction in circulating virus as well as clinical outcomes (NCT # 04595903). Under Single Patient Emergency Use regulations, the Company has also treated two patients with COVID-19 with the Hemopurifier. In September 2021, we entered into an agreement with PPD, Inc., or PPD, a leading global contract research organization, or CRO, to oversee our U.S. clinical studies investigating the Hemopurifier for critically ill COVID-19 patients. We now have nine hospitals activated for patient enrollment and they are actively screening patients for the trial. These sites include LSU Shreveport, Valley Baptist Medical Center in Texas, Loma Linda Medical Center, Hoag Irvine and Newport Beach, University of California Davis, University of Miami Medical Center, Cooper Medical and Thomas Jefferson Medical Center. We are in the site activation process with three additional U.S. medical centers. We also obtained ethics review board approval and entered into a clinical trial agreement with Medanta Medicity Hospital, a multi-specialty hospital in Delhi NCR, India, for a COVID-19 clinical trial at that location. We have completed all site initiation activities at Medanta Medicity Hospital and this site is now open for enrollment and is actively screening patients. One patient recently has completed treatment protocol in this trial. We are also the majority owner of Exosome Sciences, Inc., or ESI, a company formed to focus on the discovery of exosomal biomarkers to diagnose and monitor life-threatening diseases. We consolidate ESI’s activities in our consolidated financial statements. Successful outcomes of human trials will also be required by the regulatory agencies of certain foreign countries where we plan to sell the Hemopurifier. Some of our patents may expire before FDA approval or approval in a foreign country, if any, is obtained. However, we believe that certain patent applications and/or other patents issued more recently will help protect the proprietary nature of the Hemopurifier treatment technology. In addition to the foregoing, we are monitoring closely the impact of the COVID-19 global pandemic on our business and have taken steps designed to protect the health and safety of our employees while continuing our operations. Given the level of uncertainty regarding the duration and impact of the COVID-19 pandemic on capital markets and the U.S. economy, we are unable to assess the impact of the worldwide spread of SARS-CoV-2 and the resulting COVID-19 pandemic on our timelines and future access to capital. We are continuing to monitor the spread of COVID-19 and its potential impact on our operations. The full extent to which the COVID-19 pandemic will impact our business, results of operations, financial condition, clinical trials, and preclinical research will depend on future developments that are highly uncertain, including actions taken to contain or treat COVID-19 and their effectiveness, as well as the economic impact on national and international markets. Our executive offices are located at 11555 Sorrento Valley Road, Suite 203, San Diego, California 92121. Our telephone number is (619) 941-0360. Our website address is www.aethlonmedical.com. Our common stock is listed on the Nasdaq Capital Market under the symbol “AEMD.” LIQUIDITY AND GOING CONCERN Management expects existing cash as of March 31, 2022 to be sufficient to fund the Company’s operations for at least twelve months from the issuance date of these consolidated financial statements. PRINCIPLES OF CONSOLIDATION The accompanying consolidated financial statements include the accounts of Aethlon Medical, Inc. and its majority-owned ( 80 The losses at ESI during the fiscal year ended March 31, 2022 reduced the noncontrolling interests on our consolidated balance sheet by $4,794 from $( 136,914 141,708 RISKS AND UNCERTAINTIES We operate in an industry that is subject to intense competition, government regulation and rapid technological change. Our operations are subject to significant risk and uncertainties including financial, operational, technological, regulatory, and including the potential risk of business failure. USE OF ESTIMATES We prepare our consolidated financial statements in conformity with accounting principles generally accepted in the United States of America, or GAAP, which requires us to make a number of 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. Such estimates and assumptions affect the reported amounts of expenses during the reporting period. On an ongoing basis, we evaluate estimates and assumptions based upon historical experience and various other factors and circumstances. We believe our estimates and assumptions are reasonable in the circumstances; however, actual results may differ from these estimates under different future conditions. We believe that the estimates and assumptions that are most important to the portrayal of our financial condition and results of operations, in that they require the most difficult, subjective or complex judgments, form the basis for the accounting policies deemed to be most critical to us. These critical accounting estimates relate to revenue recognition, stock purchase warrants issued with notes payable, beneficial conversion feature of convertible notes payable, impairment of intangible assets and long lived assets, stock compensation, deferred tax asset valuation allowance, and contingencies. CASH AND CASH EQUIVALENTS Accounting standards define “cash and cash equivalents” as any short-term, highly liquid investment that is both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. For the purpose of financial statement presentation, we consider all highly liquid investment instruments with original maturities of three months or less when purchased, or any investment redeemable without penalty or loss of interest to be cash equivalents. As of March 31, 2022 and 2021, we had no CONCENTRATIONS OF CREDIT RISKS Cash is maintained at one financial institution in checking accounts. Accounts at this institution are secured by the Federal Deposit Insurance Corporation up to $250,000. Our March 31, 2022 cash balances were approximately $ 16,982,000 We do not believe that the Company is exposed to any significant risk with respect to its cash. All of our accounts receivable at March 31, 2022 and all of our revenue in the fiscal years ended March 31, 2022 and 2021 related to our government contracts. RESTRICTED CASH To comply with the terms of our new laboratory, office, and manufacturing space leases, we caused our bank to issue two standby letters of credit, or the L/C’s, in the amount of $ 87,506 PROPERTY AND EQUIPMENT Property and equipment are stated at cost. Depreciation is computed using the straight-line method over the estimated useful lives of the related assets, which range from two to five years. Repairs and maintenance are charged to expense as incurred while improvements are capitalized. Upon the sale or retirement of property and equipment, the accounts are relieved of the cost and the related accumulated depreciation with any gain or loss included in the consolidated statements of operations. INCOME TAXES Deferred tax assets and liabilities are recognized for the future tax consequences attributable to the difference between the consolidated financial statements and their respective tax basis. Deferred income taxes reflect the net tax effects of (a) temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts reported for income tax purposes, and (b) tax credit carryforwards. We record a valuation allowance for deferred tax assets when, based on our best estimate of taxable income (if any) in the foreseeable future, it is more likely than not that some portion of the deferred tax assets may not be realized. LONG-LIVED ASSETS Long-lived assets are reviewed for impairment whenever events or changes in circumstances indicate that their carrying amounts may not be recoverable. If the cost basis of a long-lived asset is greater than the projected future undiscounted net cash flows from such asset, an impairment loss is recognized. We believe no LOSS PER SHARE Basic loss per share is computed by dividing net income available to common stockholders by the weighted average number of common shares outstanding during the period of computation. Diluted loss per share is computed similar to basic loss per share except that the denominator is increased to include the number of additional common shares that would have been outstanding if potential common shares had been issued, if such additional common shares were dilutive. Since we had net losses for all periods presented, basic and diluted loss per share are the same, and additional potential common shares have been excluded as their effect would be antidilutive. As of March 31, 2022 and 2021, a total of 2,243,838 2,836,062 SEGMENTS We operate our businesses principally through two reportable segments: Aethlon, which represents our therapeutic business activities, and ESI, which represents our diagnostic business. Our reportable segments have been determined based on the nature of the potential products being developed. We record discrete financial information for ESI, consisting of patent maintenance costs. Aethlon’s revenue is generated primarily from government contracts to date and ESI does not have any revenues or activities other than patent maintenance. We have not included any allocation of corporate overhead to the ESI segment. DEFERRED FINANCING COSTS Costs related to the issuance of debt are capitalized as a deduction to our convertible notes based on the accounting standard on imputation of interest, and amortized to interest expense over the life of the related debt using the effective interest method. There was no REVENUE RECOGNITION Our revenues consist entirely of amounts earned under contracts and grants with the National Institutes of Health, or NIH. During the fiscal years ended March 31, 2022 and 2021, we recognized revenues totaling $ 294,165 659,104 We identify the deliverables included within these agreements and evaluate which deliverables represent separate units of accounting based on if certain criteria are met, including whether the delivered element has standalone value to the collaborator. The consideration received is allocated among the separate units of accounting, and the applicable revenue recognition criteria are applied to each of the separate units. A milestone is an event having all of the following characteristics: (1) There is substantive uncertainty at the date the arrangement is entered into that the event will be achieved. A vendor’s assessment that it expects to achieve a milestone does not necessarily mean that there is not substantive uncertainty associated with achieving the milestone. (2) The event can only be achieved based in whole or in part on either: (a) the vendor’s performance; or (b) a specific outcome resulting from the vendor’s performance. (3) If achieved, the event would result in additional payments being due to the vendor. A milestone does not include events for which the occurrence is either: (a) contingent solely upon the passage of time; or (b) the result of a counterparty’s performance. The policy for recognizing deliverable consideration contingent upon achievement of a milestone must be applied consistently to similar deliverables. The assessment of whether a milestone is substantive is performed at the inception of the arrangement. The consideration earned from the achievement of a milestone must meet all of the following for the milestone to be considered substantive: (1) The consideration is commensurate with either: (a) the vendor’s performance to achieve the milestone; or (b) the enhancement of the value of the delivered item or items as a result of a specific outcome resulting from the vendor’s performance to achieve the milestone; (2) The consideration relates solely to past performance; and (3) The consideration is reasonable relative to all of the deliverables and payment terms (including other potential milestone consideration) within the arrangement. A milestone is not considered substantive if any portion of the associated milestone consideration relates to the remaining deliverables in the unit of accounting (i.e., it does not relate solely to past performance). To recognize the milestone consideration in its entirety as revenue in the period in which the milestone is achieved, the milestone must be substantive in its entirety. Milestone consideration cannot be bifurcated into substantive and nonsubstantive components. In addition, if a portion of the consideration earned from achieving a milestone may be refunded or adjusted based on future performance, the related milestone is not considered substantive. We have recognized revenue under the following three government contracts/grants over the past two years: Phase 2 Melanoma Cancer Contract On September 12, 2019, the National Cancer Institute, or NCI, part of the National Institutes of Health, or NIH, awarded to us an SBIR Phase II Award Contract, for NIH/NCI Topic 359, entitled “A Device Prototype for Isolation of Melanoma Exosomes for Diagnostics and Treatment Monitoring”, or the Award Contract. The Award Contract amount is $ 1,860,561 The work performed pursuant to this Award Contract focused on melanoma exosomes. This work follows from our completion of a Phase I contract for the Topic 359 solicitation that ran from September 2017 through June 2018. Following on the Phase I work, the deliverables in the Phase II program involve the design and testing of a pre-commercial prototype of a more advanced version of the exosome isolation platform. During the fiscal year ended March 31, 2022, we recorded $ 229,698 During the fiscal year ended March 31, 2021, we completed the milestones relevant to the first nine months of the fiscal year and, as a result, we recorded $ 436,427 Breast Cancer Grant In the fiscal year ended March 31, 2021, we completed and submitted the final reports applicable to this NCI grant (number 1R43CA232977-01). The title of this Small Business Innovation Research, or SBIR, Phase I grant is “The Hemopurifier Device for Targeted Removal of Breast Cancer Exosomes from the Blood Circulation,” or the Breast Cancer Grant. This NCI Phase I grant period originally ran from September 14, 2018 through August 31, 2019. In August 2019, we applied for and received a no cost, twelve month extension on this grant; through August 31, 2020. The total amount of the firm grant was $298,444. The grant called for two subcontractors to work with us. Those subcontractors were University of Pittsburgh and Massachusetts General Hospital. As of December 31, 2020, we have received all of the funds allocated to the Breast Cancer Grant. During the fiscal year ended March 31, 2021, we recorded the remaining $ 188,444 As of March 31, 2021, we received all of the funds allocated to the Breast Cancer Grant and have submitted the final reports applicable to this grant. Subaward with University of Pittsburgh In 2020, we entered into a cost reimbursable subaward arrangement with the University of Pittsburgh in connection with an NIH contract entitled “Depleting Exosomes to Improve Responses to Immune Therapy in HNNCC.” Our share of the award is $ 256,750 64,467 34,233 STOCK-BASED COMPENSATION Employee stock options and rights to purchase shares under stock participation plans are accounted for under the fair value method. Accordingly, share-based compensation is measured when all granting activities have been completed, generally the grant date, based on the fair value of the award. The exercise price of options is generally equal to the market price of the Company’s common stock (defined as the closing price as quoted on the Nasdaq Capital Market or OTCBB on the date of grant). Compensation cost recognized by the Company includes (a) compensation cost for all equity incentive awards granted prior to April 1, 2006, but not yet vested, based on the grant-date fair value estimated in accordance with the original provisions of the then current accounting standards, and (b) compensation cost for all equity incentive awards granted subsequent to March 31, 2006, based on the grant-date fair value estimated in accordance with the provisions of subsequent accounting standards. We use a Binomial Lattice option pricing model for estimating fair value of options granted (see Note 4). The following table summarizes share-based compensation expenses relating to shares and options granted and the effect on loss per common share during the years ended March 31, 2022 and 2021: Share-based compensation expenses Fiscal Years Ended March 31, 2022 March 31, 2021 Vesting of Stock Options and Restricted Stock Units $ 750,621 $ 779,421 Total Stock-Based Compensation Expense $ 750,621 $ 779,421 Weighted average number of common shares outstanding – basic and diluted 14,756,967 12,090,884 Basic and diluted loss per common share $ (0.05 ) $ (0.06 ) We record share-based compensation expenses for awards of stock options and RSUs under ASC 718, Share-based compensation, or ASC 718. For awards to non-employees for periods prior to the adoption of ASU 2018-07, Compensation-Stock Compensation: Improvements to Non-employee Share-Based Payment Accounting, on April 1, 2019, the Company had applied ASC 505-50, Equity – Equity-based payments to non-employees, or ASC 505-50. ASC 718 establishes guidance for the recognition of expenses arising from the issuance of share-based compensation awards at their fair value at the grant date. We recognize share-based compensation expense related to stock options and SARs granted to employees, directors and consultants based on the estimated fair value of the awards on the date of grant. We estimate the grant date fair value, and the resulting share-based compensation expense, for stock options that only have service vesting requirements or performance-based vesting requirements without market conditions using the binomial lattice option-pricing model. The grant date fair value of the share-based awards with service vesting requirements is generally recognized on a straight-line basis over the requisite service period, which is generally the vesting period of the respective awards. Determining the appropriate amount to expense for performance-based awards based on the achievement of stated goals requires judgment. The estimate of expense is revised periodically based on the probability of achieving the required performance targets and adjustments are made as appropriate. The cumulative impact of any revisions is reflected in the period of change. If any applicable financial performance goals are not met, no compensation cost is recognized and any previously recognized compensation cost is reversed. For performance-based awards with market conditions, we determine the fair value of awards as of the grant date using a Monte Carlo simulation model. We review share-based compensation on a quarterly basis for changes to the estimate of expected award forfeitures based on actual forfeiture experience. The effect of adjusting the forfeiture rate for all expense amortization after March 31, 2007 is recognized in the period the forfeiture estimate is changed. The effect of forfeiture adjustments for the fiscal year ended March 31, 2022 was insignificant. PATENTS Patents include both foreign and domestic patents. We capitalize the cost of patents, some of which were acquired, and amortize such costs over the shorter of the remaining legal life or their estimated economic life, upon issuance of the patent. The unamortized costs of patents are subject to our review for impairment under our long-lived asset policy above. STOCK PURCHASE WARRANTS In the past we issued warrants for the purchase of shares of our common stock in connection with the issuance of common stock for cash. Warrants issued in connection with common stock for cash, if classified as equity, are considered issued in connection with equity transactions and the warrant fair value is recorded to additional paid-in-capital. RESEARCH AND DEVELOPMENT EXPENSES Our research and development costs are expensed as incurred. We incurred approximately $ 2,341,000 2,072,000 OFF-BALANCE SHEET ARRANGEMENTS We have not entered into any off-balance sheet arrangements that have or are reasonably likely to have a current or future material effect on our consolidated financial statements. SIGNIFICANT RECENT ACCOUNTING PRONOUNCEMENTS In June 2018, the FASB issued ASU No. 2018-07, Compensation-Stock Compensation (Topic 718), Improvements to Nonemployee Share-Based Payment Accounting, or ASU No. 2018-07. ASU No. 2018-07 expands the scope of Topic 718 to include share-based payment transactions for acquiring goods and services from nonemployees. ASU No. 2018-07 is effective for interim and annual reporting periods beginning after December 15, 2018. Entities must apply the guidance retrospectively with a cumulative effect adjustment to retained earnings as of the beginning of the period of adoption. The adoption of ASU No. 2018-07 on April 1, 2019 did not have a material impact on the Company's consolidated financial position, results of operations and related disclosures. On April 1, 2019, the Company adopted ASC Topic 842, Leases,” utilizing the alternative transition method allowed for under this guidance. As a result, the Company recorded lease liabilities and right-of-use lease assets on its balance sheet. Topic 842 also allows lessees and lessors to elect certain practical expedients. The Company elected the following practical expedients: · Transitional practical expedients, which must be elected as a package and applied consistently to all of the Company’s leases: ° The Company need not reassess whether any expired or existing contracts are or contain leases. ° The Company need not reassess the lease classification for any expired or existing leases (that is, all existing leases that were classified as operating leases in accordance with the previous guidance will be classified as operating leases, and all existing leases that were classified as capital leases in accordance with the previous guidance will be classified as finance leases). ° The Company need not reassess initial direct costs for any existing leases. · Hindsight practical expedient. The Company elected the hindsight practical expedient in determining the lease term (that is, when considering lessee options to extend or terminate the lease and to purchase the underlying asset) and in assessing impairment of the Company’s right-of-use assets.

PROPERTY AND EQUIPMENT, NET

PROPERTY AND EQUIPMENT, NET	12 Months Ended
	Mar. 31, 2022
Property, Plant and Equipment [Abstract]
PROPERTY AND EQUIPMENT, NET	2. PROPERTY AND EQUIPMENT, NET Property and equipment, net, consist of the following: Schedule of property and equipment March 31, 2022 March 31, 2021 Furniture and office equipment, at cost $ 813,412 $ 585,910 Leasehold improvements 121,690 – Accumulated depreciation (493,864 ) (424,934 ) Furniture and office equipment, net $ 441,238 $ 160,976 Depreciation expense for the fiscal years ended March 31, 2022 and 2021 was $ 68,931 39,389

PATENTS, NET

PATENTS, NET	12 Months Ended
	Mar. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
PATENTS, NET	3. PATENTS, NET Patents, net consist of the following: Schedule of patents March 31, 2022 March 31, 2021 Issued patents $ 157,442 $ 157,442 Accumulated amortization (155,242 ) (154,691 ) Issued patents, net of accumulated amortization 2,200 2,751 Patents pending – 54,203 Patents, net $ 2,200 $ 56,954 Amortization expense for our capitalized issued patents for each of the fiscal years ended March 31, 2022 and 2021 was $ 54,754 550 4

EQUITY TRANSACTIONS

EQUITY TRANSACTIONS	12 Months Ended
	Mar. 31, 2022
Equity [Abstract]
EQUITY TRANSACTIONS	4. EQUITY TRANSACTIONS ISSUANCES OF COMMON STOCK AND WARRANTS Equity Transactions in the Fiscal Year Ended March 31, 2022. 2021 At The Market Offering Agreement with H.C. Wainwright & Co., LLC On March 22, 2021, we entered into an At the Market Offering Agreement, or the 2021 ATM Agreement, with H.C. Wainwright & Co., LLC, or Wainwright, as sales agent, pursuant to which we could offer and sell shares of our common stock, from time to time as set forth in the 2021 ATM Agreement. The offering was registered under the Securities Act of 1933, as amended, or Securities Act, pursuant to our shelf registration statement on Form S-3 (Registration Statement No. 333-237269), as previously filed with the Securities and Exchange Commission, or SEC, and declared effective on March 30, 2020. We filed a prospectus supplement with the SEC, dated March 22, 2021, in connection with the offer and sale of the shares of common stock, pursuant to which we could offer and sell shares of common stock having an aggregate offering price of up to $5,080,000 from time to time. Subject to the terms and conditions set forth in the 2021 ATM Agreement, Wainwright agreed to use its commercially reasonable efforts consistent with its normal trading and sales practices to sell the shares under the 2021 ATM Agreement from time to time, based upon our instructions. We provided Wainwright with customary indemnification rights under the 2021 ATM Agreement, and Wainwright was entitled to a commission at a fixed rate equal to up to three percent of the gross proceeds per share sold. In addition, we agreed to reimburse Wainwright for certain specified expenses in connection with entering into the 2021 ATM Agreement. The 2021 ATM Agreement provided that it would terminate upon the written termination by either party as permitted thereunder. Sales of the shares, under the 2021 ATM Agreement are made in transactions that are deemed to be “at the market offerings” as defined in Rule 415 under the Securities Act, including sales made by means of ordinary brokers’ transactions, including on the Nasdaq Capital Market, at market prices or as otherwise agreed with Wainwright. The 2021 ATM Agreement provided that we have no obligation under the 2021 ATM Agreement to sell any of the shares, and, at any time, we could suspend offers under the 2021 ATM Agreement or terminate the agreement. In the fiscal year ended March 31, 2022, we raised aggregate net proceeds under the 2021 ATM Agreement described above of $ 4,947,785 126,922 2,154 626,000 7.90 Registered Direct Financing In the fiscal year ended March 31, 2022, we sold an aggregate of 1,380,555 9.00 11,659,044 Warrant Exercises In the fiscal year ended March 31, 2022, pursuant to the exercise of outstanding warrants to purchase 531,167 820,938 Also in the fiscal year ended March 31, 2022, pursuant to the exercise of 874,664 675,554 199,110 Stock Option Exercises In the fiscal year ended March 31, 2022, former employees paid us an aggregate of $ 28,325 11,562 2022 At The Market Offering Agreement with H.C. Wainwright & Co., LLC On March 24, 2022, we entered into an At The Market Offering Agreement, or the 2022 ATM Agreement, with Wainwright, which established an at-the-market equity program pursuant to which we may offer and sell shares of our common stock from time to time as set forth in the 2022 ATM Agreement. The 2022 ATM Agreement provides for the sale of shares of our common stock having an aggregate offering price of up to $ 15,000,000 The offering was registered under the Securities Act pursuant to our shelf registration statement on S-3 (Registration Statement No. 333-259909), as previously filed with the SEC and declared effective on October 21, 2021. We filed a prospectus supplement, dated March 24, 2022, with the SEC in connection with the offer and sale of 2022 ATM Shares. Under the 2022 ATM Agreement, Wainwright may sell the 2022 ATM Shares by any method permitted by law and deemed to be an “at the market offering” as defined in Rule 415 promulgated under the Securities Act, including sales made directly on the Nasdaq Capital Market, or on any other existing trading market for the 2022 ATM Shares. In addition, under the 2022 ATM Agreement, Wainwright may sell the 2022 ATM Shares in privately negotiated transactions with our consent and in block transactions. Under certain circumstances, we may instruct Wainwright not to sell the 2022 ATM Shares if the sales cannot be effected at or above the price designated by us from time to time. We are not obligated to make any sales of the 2022 ATM Shares under the 2022 ATM Agreement. The offering of the 2022 ATM Shares pursuant to the 2022 ATM Agreement will terminate upon the termination of the 2022 ATM Agreement by Wainwright or us, as permitted therein. The 2022 ATM Agreement contains customary representations, warranties and agreements by us, and customary indemnification and contribution rights and obligations of the parties. We agreed to pay Wainwright a placement fee of up to 3.0% of the aggregate gross proceeds from each sale of the 2022 ATM Shares. We also agreed to reimburse Wainwright for certain specified expenses in connection with entering into the 2022 ATM Agreement. As of March 31, 2022, we had not sold any 2022 ATM Shares under the 2022 ATM Agreement. RSU Grants to Non-Employee Directors The Company maintains an Amended and Restated Non-Employee Director Compensation Policy, which was most recently amended on February 10, 2022, or the Director Compensation Policy, that provides cash and equity compensation for persons serving as non-employee directors of the Company. Under this policy, each new director receives either stock options or a grant of RSUs upon appointment/election as well as either an annual grant of stock options or RSUs at the beginning of each fiscal year. The (i) stock options are subject to vesting and (ii) RSUs are subject to vesting and represent the right to be issued on a future date shares of our common stock upon vesting. On April 1, 2021, pursuant to the Director Compensation Policy, the Compensation Committee, or Compensation Committee, of the Company’s Board of Directors, or Board, granted RSUs under the Company’s 2020 Equity Incentive Plan, or the 2020 Plan, to each non-employee director of the Company. The Director Compensation Policy provides for a grant of stock options or $50,000 worth of RSUs at the beginning of each fiscal year, with the RSUs priced at the average for the closing prices for the five days preceding and including the date of grant, or $2.06 per share as of April 1, 2021. Each eligible director was granted an RSU in the amount of 24,295 In June 2021, 18,221 7,289 35,786 In September 2021, 18,221 7,289 28,134 In December 2021, 18,221 7,289 13,557 In March 2022, 18,221 7,289 10,641 There were no vested RSUs outstanding as of March 31, 2022. Equity Transactions in the Fiscal Year Ended March 31, 2021. 2016 Common Stock Sales Agreement with H.C. Wainwright & Co., LLC On June 28, 2016, we entered into a Common Stock Sales Agreement, or the 2016 Agreement, with Wainwright, which established an at-the-market equity program pursuant to which we may offer and sell shares of our common stock from time to time as set forth in the 2016 Agreement. The 2016 Agreement provided for the sale of shares of our common stock having an aggregate offering price of up to $12,500,000. On March 30, 2020, we executed Amendment No. 2 to the 2016 Agreement with Wainwright, effective as of the same date. The amendment provides that references in the 2016 Agreement to the registration statement shall refer to the registration statement on Form S-3 (File No. 333-237269), originally filed with the SEC on March 19, 2020, declared effective by the SEC on March 30, 2020. Subject to the terms and conditions set forth in the 2016 Agreement, Wainwright agreed to use its commercially reasonable efforts consistent with its normal trading and sales practices to sell the shares under the 2016 Agreement from time to time, based upon our instructions. We provided Wainwright with customary indemnification rights under the 2016 Agreement, and Wainwright is entitled to a commission at a fixed rate equal to three percent of the gross proceeds per share sold. In addition, we agreed to pay certain expenses incurred by Wainwright in connection with the 2016 Agreement, including up to $50,000 of the fees and disbursements of their counsel. The 2016 Agreement will terminate upon the sale of all of the shares under the 2016 Agreement, unless terminated earlier by either party as permitted under the 2016 Agreement. No further sales can be made under the 2016 Agreement. 2021 At the Market Offering Agreement with H.C. Wainwright & Co., LLC On March 22, 2021, we entered into the 2021 ATM Agreement with Wainwright. In the fiscal year ended March 31, 2021, we raised aggregate net proceeds of $ 7,260,869 224,825 8,472 2,685,600 2.70 RSU Grants to Non-Employee Directors The Company maintains the Director Compensation Policy which provides cash and equity compensation for persons serving as non-employee directors of the Company. Under this program, each new director receives either stock options or a grant of RSUs upon appointment/election as well as an annual grant of stock options or RSUs at the beginning of each fiscal year. The (i) stock options are subject to vesting and (ii) RSUs are subject to vesting and represent the right to be issued on a future date shares of our common stock upon vesting. On April 3, 2020, pursuant to the Director Compensation Policy, the Compensation Committee granted RSUs to each non-employee director of the Company. The then current Director Compensation Policy provided for a grant of RSUs with a grant date fair value of $35,000, priced at the average of the closing prices for the five trading days ending on the date of grant, which was $ 1.41 24,822 23,893 In June 2020, 29,866 11,947 24,251 In September 2020, 29,866 11,947 16,128 As noted above, in September 2020, our stockholders approved the 2020 Plan at the 2020 Annual Meeting, at which point the grants of 929 RSUs to each of our eligible independent directors for a total of 4,645 RSUs were considered effective and no longer contingent as of that date. In December 2020, 32,189 12,876 31,802 In March 2021, 32,189 12,875 26,136 There were no Restricted Stock Grant to Consultant In February 2021, our Board approved a restricted stock grant of 7,758 18,000 16,500 1,500 WARRANTS: We did not issue any warrants during the fiscal years ended March 31, 2022 and 2021. A summary of the aggregate warrant activity for the years ended March 31, 2022 and 2021 is presented below: Summary of warrant activity Fiscal Year Ended March 31, 2022 2021 Warrants Weighted Warrants Weighted Outstanding, beginning of year 1,991,973 $ 5.23 2,021,368 $ 5.21 Granted – $ N/A – $ N/A Exercised (1,206,721 ) $ 2.21 – $ N/A Cancelled/Forfeited (208,514 ) $ 6.11 (29,395 ) $ 91.17 Outstanding, end of year 576,738 $ 11.21 1,991,973 $ 5.23 Exercisable, end of year 576,738 $ 11.21 1,991,973 $ 5.23 Weighted average estimated fair value of warrants granted $ N/A $ 1.22 The detail of the warrants outstanding and exercisable as of March 31, 2022 is as follows: Summary of warrant activity exercisable and outstanding Warrants Outstanding Warrants Exercisable Range of Number Weighted Weighted Number Weighted $2.75 or Below 326,753 2.78 $ 2.01 326,753 $ 2.01 $16.50 - $59.25 249,985 0.43 $ 23.24 249,985 $ 23.24 576,738 576,738 STOCK-BASED COMPENSATION: 2020 EQUITY INCENTIVE PLAN In September 2020, our stockholders approved the adoption of the 2020 Plan, to provide incentives to attract, retain and motivate employees, directors and consultants, whose present and potential contributions are important to our success, by offering them an opportunity to participate in our future performance through awards of options, the right to purchase common stock, stock bonuses and stock appreciation rights and other awards. We initially authorized a total of 1,842,556 common shares for issuance under the 2020 Plan pursuant to stock option grants, RSUs or other forms of stock-based compensation. NON-EMPLOYEE DIRECTORS COMPENSATION POLICY The Company maintains the Director Compensation Policy which provides cash and equity compensation for persons serving as non-employee directors of the Company. Under this policy, each new director receives either stock options or a grant of RSUs upon appointment/election, as well as either an annual grant of stock options or RSUs at the beginning of each fiscal year. The (i) stock options are subject to vesting and (ii) RSUs are subject to vesting and represent the right to be issued on a future date shares of our common stock upon vesting. Please see above under the heading "Equity Transactions in the Fiscal Year Ended March 31, 2022—RSU Grants to Non-Employee Directors" for disclosure regarding equity awards under the Director Compensation Policy during the fiscal year ended March 31, 2022. STOCK OPTION ACTIVITY During the fiscal year ended March 31, 2022, we issued a stock option grant to our Chief Executive Officer, or CEO, for the purchase of 266,888 5.17 On February 10, 2022, after review of data provided by the Company’s independent compensation consultant, our Compensation Committee awarded stock option grants to each of our executive officers. Each executive officer was granted an option to purchase shares of our common stock under the 2020 Plan, at an exercise price equal to the fair market value on the date of grant, or $1.41 per share. The Compensation Committee awarded the grants as follows: the Chief Executive Officer was granted an option to purchase 192,600 100,200 25 36 Options outstanding that were vested as of March 31, 2022 and options that are expected to vest subsequent to March 31, 2022 are as follows: Options outstanding that have vested and are expected to vest Number of Weighted Weighted Vested 267,221 $ 2.51 8.21 Expected to vest 1,398,727 $ 2.27 9.17 Total 1,665,948 The following is a summary of the stock options outstanding at March 31, 2022 and 2021 and the changes during the years then ended: Summary of stock options outstanding Fiscal Year Ended March 31, 2022 2021 Options Weighted Options Weighted Outstanding, beginning of year 844,089 $ 3.07 51,124 $ 44.12 Granted 941,188 $ 2.48 1,011,860 $ 1.71 Exercised (11,562 ) $ 2.45 (15,896 ) $ 1.28 Cancelled/Forfeited (107,767 ) $ 9.66 (202,999 ) $ 6.76 Outstanding, end of year 1,665,948 $ 2.31 844,089 $ 3.07 Exercisable, end of year 267,221 $ 2.51 58,954 $ 20.06 Weighted average estimated fair value of options granted $ 2.41 $ 1.58 The detail of the options outstanding and exercisable as of March 31, 2022 is as follows: Detail of options outstanding and exercisable by exercise price Options Outstanding Options Exercisable Exercise Prices Number Weighted Weighted Number Weighted $1.28 - $1.68 1,154,114 9.39 $ 1.38 193,526 $ 1.33 $2.45 - $5.17 508,654 9.09 $ 3.91 70,515 $ 2.52 $57.00 - $142.50 3,180 1.43 $ 84.50 3,180 $ 84.50 1,665,948 267,221 We recorded stock-based compensation expense related to restricted stock unit issuances and to options granted totaling $ 750,621 779,421 Our total stock-based compensation for fiscal years ended March 31, 2022 and 2021 included the following: Schedule of stock-based compensation Fiscal Year Ended March 31, 2022 March 31, 2021 Vesting of restricted stock units $ 150,000 $ 175,000 Vesting of restricted shares issued for services 16,500 1,500 Vesting of stock options 584,121 602,921 Total Stock-Based Compensation $ 750,621 $ 779,421 We review share-based compensation on a quarterly basis for changes to the estimate of expected award forfeitures based on actual forfeiture experience. The cumulative effect of adjusting the forfeiture rate for all expense amortization is recognized in the period the forfeiture estimate is changed. The effect of forfeiture adjustments for the fiscal year ended March 31, 2022 was insignificant. On March 31, 2022, our outstanding stock options had no intrinsic value since the closing price on that date of $ 1.46 At March 31, 2022, there was approximately $ 2,724,000 3.3

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	12 Months Ended
	Mar. 31, 2022
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	5. RELATED PARTY TRANSACTIONS DUE TO RELATED PARTIES Historically, certain of our officers and other related parties have advanced us funds, agreed to defer compensation and/or paid expenses on our behalf to cover working capital deficiencies. There were no such related party transactions during the fiscal year ended March 31, 2022, except that we had accrued unpaid Board fees of $ 55,750 Due to related parties were comprised of the following items: Due to related parties March 31, 2022 March 31, 2021 Accrued Board fees $ 55,750 $ 52,000 Accrued vacation 99,992 66,520 Total due to related parties $ 155,742 $ 118,520

OTHER CURRENT LIABILITIES

OTHER CURRENT LIABILITIES	12 Months Ended
	Mar. 31, 2022
Other Liabilities Disclosure [Abstract]
OTHER CURRENT LIABILITIES	6. OTHER CURRENT LIABILITIES Other current liabilities were comprised of the following items: Other Current Liabilities March 31, 2022 March 31, 2021 Accrued separation expenses for former executive $ – $ 284,270 Accrued professional fees 696,893 477,366 Total other current liabilities $ 696,893 $ 761,636

INCOME TAXES

INCOME TAXES	12 Months Ended
	Mar. 31, 2022
Income Tax Disclosure [Abstract]
INCOME TAXES	7. INCOME TAXES For the years ended March 31, 2022 and 2021, we had no income tax expense due to our net operating losses and 100% deferred tax asset valuation allowance. At March 31, 2022 and 2021, we had net deferred tax assets as detailed below. These deferred tax assets are primarily composed of capitalized research and development costs and tax net operating loss carryforwards. Due to uncertainties surrounding our ability to generate future taxable income to realize these assets, a 100% valuation allowance has been established to offset the net deferred tax assets. Significant components of our net deferred tax assets at March 31, 2022 and 2021 are shown below: Schedule of deferred tax assets YEAR ENDED MARCH 31, 2022 2021 Deferred tax assets: Capitalized research and development $ 3,442,000 $ 3,442,000 Net operating loss carryforwards 1 22,039,000 19,921,000 Stock compensation 1,609,000 1,399,000 Total deferred tax assets 27,090,000 24,762,000 Total deferred tax liabilities – – Net deferred tax assets 27,090,000 24,762,000 Valuation allowance for deferred tax assets (27,090,000 ) (24,762,000 ) Net deferred tax assets $ – $ – At March 31, 2022, we had tax net operating loss carryforwards for federal and state purposes approximating $ 87 69 The provision for income taxes on earnings subject to income taxes differs from the statutory federal rate for the years ended March 31, 2022 and 2021 due to the following: Provision for income taxes 2022 2021 Income taxes (benefit) at federal statutory rate of 21.00% $ (2,188,000 ) $ (1,657,000 ) Tax effect on non-deductible expenses and credits 1,000 1,000 True up items (5,000 ) 25,000 Expiration of net operating loss carryforwards (1) 593,000 427,000 Change in valuation allowance 1,599,000 1,204,000 Income Tax Expense (Benefit) $ – $ – ______________ (1) Pursuant to Internal Revenue Code Section 382, use of our tax net operating loss carryforwards may be limited. ASC 740, “Income Taxes”, clarifies the accounting for uncertainty in income taxes recognized in an entity's financial statements, and prescribes recognition thresholds and measurement attributes for financial statement disclosure of tax positions taken or expected to be taken on a tax return. Under ASC 740, the impact of an uncertain income tax position on the income tax return must be recognized at the largest amount that is more-likely-than-not to be sustained upon audit by the relevant taxing authority. An uncertain income tax position will not be recognized if it has less than a 50% likelihood of being sustained. Additionally, ASC 740 provides guidance on derecognition, classification, interest and penalties, accounting in interim periods, disclosure and transition. Our practice is to recognize interest and/or penalties related to income tax matters in income tax expense. During the years ended March 31, 2022 and 2021, we did not recognize any interest or penalties relating to tax matters. At and for the years ended March 31, 2022 and 2021, management does not believe the Company has any uncertain tax positions. Accordingly, there are no Our tax returns remain open for examination by the applicable authorities, generally 3 years for federal and 4 years for state. We are currently not under examination by any taxing authorities.

SEGMENTS

SEGMENTS	12 Months Ended
	Mar. 31, 2022
Segment Reporting [Abstract]
SEGMENTS	8. SEGMENTS We operate our businesses principally through two reportable segments: Aethlon, which represents our therapeutic business activities, and ESI, which represents our diagnostic business. Our reportable segments have been determined based on the nature of the potential products being developed. We record discrete financial information for ESI, consisting of patent maintenance costs. Aethlon’s revenue is generated primarily from government contracts to date and ESI does not have any revenues or activities other than patent maintenance. We have not included any allocation of corporate overhead to the ESI segment. The following tables set forth certain information regarding our segments: Schedule of segments Fiscal Years Ended March 31, 2022 2021 Revenues: Aethlon $ 294,165 $ 659,104 ESI – – Total Revenues $ 294,165 $ 659,104 Operating Losses: Aethlon $ (10,396,914 ) $ (7,867,547 ) ESI (23,971 ) (23,952 ) Total Operating Loss $ (10,420,885 ) $ (7,891,499 ) Net Losses: Aethlon $ (10,396,914 ) $ (7,867,547 ) ESI (23,971 ) (23,952 ) Net Loss Before Non-Controlling Interests $ (10,420,885 ) $ (7,891,499 ) Cash: Aethlon $ 17,072,222 $ 9,861,378 ESI 197 197 Total Cash $ 17,072,419 $ 9,861,575 Total Assets: Aethlon $ 19,417,757 $ 10,668,719 ESI 197 197 Total Assets $ 19,417,954 $ 10,668,916 Depreciation and Amortization: Aethlon $ 123,685 $ 39,939 ESI – – Total Depreciation and Amortization $ 123,685 $ 39,939 Capital Expenditures: Aethlon $ 349,193 $ 59,881 ESI – – Capital Expenditures $ 349,193 $ 59,881

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
	Mar. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	9. COMMITMENTS AND CONTINGENCIES CONTRACTUAL OBLIGATIONS AND COMMITMENTS We have had the following material changes to our contractual obligations and commitments outside the ordinary course of business during the fiscal year ended March 31, 2022: LEASE COMMITMENTS Previous Office and Lab Leases In September 2021, our lease of approximately 2,600 square feet of our previous executive office space at 9635 Granite Ridge Drive, Suite 100, San Diego, California 92123 expired. Through December 31, 2021, we rented approximately 1,700 square feet of laboratory space at 11585 Sorrento Valley Road, Suite 109, San Diego, California 92121, at the rate of $6,148 per month on a one-year lease that originally was to expire on November 30, 2020. In December 2020, we entered into a short-term lease extension running from December 1, 2020 through the completion date of our construction of our new laboratory space which is adjacent to our current laboratory. New Office and Lab Leases In December 2020, we entered into an agreement to lease approximately 2,823 square feet of office space and 1,807 square feet of laboratory space located at 11555 Sorrento Valley Road, Suite 203, San Diego, California 92121 and 11585 Sorrento Valley Road, Suite 109, San Diego, California 92121, respectively. The agreement carries a term of 63 months and we took possession of the office space effective October 1, 2021. We took possession of the lab space effective January 1, 2022. On October 1, 2021, we recorded a $ 343,633 63 4.25 6,121 During the three months ended March 31, 2022, we recorded a $ 400,797 4.25 7,456 As of our March 31, 2022 consolidated balance sheet, we have a right-of-use lease asset of $ 696,698 In addition, the new lease agreement of the new office and lab required us to post a standby letter of credit in favor of the landlord in the amount of $ 46,726 Manufacturing Space Lease In October 2021, we entered into another lease for an initial period of 58 months for (i) approximately 22,260 square feet of space located at 11588 Sorrento Valley Road, San Diego, California 92121, or the Building, and (ii) 2,655 square feet of space located in the Building and commonly known as Suite 18 to house our manufacturing operations. That manufacturing space is located at 11588 Sorrento Valley Road, San Diego, California 92121 and it is near our new lab and office locations. We anticipate that the landlord will complete construction on this new space in the third calendar quarter of 2022 and we will take occupancy at that time. The initial base rent for the manufacturing space will be $12,080 per month. Based on the assumptions that we used to calculate the right-of-use lease asset for the new office and lab spaces, we estimate that we will record a right- of- use lease asset of $614,240 and associated lease liability for the manufacturing space lease when we take possession of that space. The lease for the manufacturing space also required us to post a standby letter of credit in favor of the landlord in the amount of $ 40,780 Mobile Clean Room In addition, we rent a mobile clean room on a short term, month-to-month basis, where we house our manufacturing operations until our permanent manufacturing space is completed. We also rent the land on which the mobile clean room is based on a month-to-month basis. The mobile clean room is located on leased land near our office and lab and we pay $ 2,000 189,000 Overall, our rent expense, which is included in general and administrative expenses, approximated $ 401,000 192,000 LEGAL MATTERS From time to time, claims are made against us in the ordinary course of business, which could result in litigation. Claims and associated litigation are subject to inherent uncertainties and unfavorable outcomes could occur, such as monetary damages, fines, penalties or injunctions prohibiting us from selling one or more products or engaging in other activities. The occurrence of an unfavorable outcome in any specific period could have a material adverse effect on our results of operations for that period or future periods. We are not presently a party to any pending or threatened legal proceedings.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	12 Months Ended
	Mar. 31, 2022
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	10. SUBSEQUENT EVENTS Management has evaluated events subsequent to March 31, 2022 through the date that the accompanying consolidated financial statements were filed with the Securities and Exchange Commission for transactions and other events which may require adjustment of and/or disclosure in such financial statements. Sales Under 2022 ATM Agreement In June 2022, we raised net proceeds of $448,760, net of $11,583 in commissions to Wainwright and $2,994 in other offering expense, through the sale of, 411,055 shares of our common stock at an average price of $1.09 per share under the 2022 ATM Agreement. RSU GRANTS The Compensation Committee approved, effective as of April 1, 2022, pursuant to the terms of the Directors Compensation Policy, the grant of the annual RSUs under the Director Compensation Policy to each of the two non-employee directors of the Company then serving on the Board and a new grant for the newly appointed director, with each such grant subject to stockholder approval of an increase of 1,800,000 shares of common stock in the number of authorized shares of common stock, or the 2022 Plan Increase, available for issuance under the 2020 Plan at the Company’s 2022 annual meeting of stockholders, or the 2022 Annual Meeting. The Director Compensation Policy provides for a grant of stock options or $50,000 worth of RSUs at the beginning of each fiscal year for current directors then serving on the Board and for a grant of stock options or $75,000 worth of RSUs for a newly elected director, with each RSU priced at the average for the closing prices for the five days preceding and including the date of grant, or $1.46 per share as of April 1, 2022. The two then-current eligible directors each was granted a contingent RSU in the amount of 34,247 shares under the 2020 Plan and the newly appointed director received a contingent RSU grant for 51,370 shares under the 2020 Plan. The contingent RSUs are subject to vesting in three installments, 50% on September 30, 2022, and 25% on each of December 31, 2022, and March 31, 2023, subject to stockholder approval of the 2022 Plan Increase at the 2022 Annual Meeting and subject to the recipient's continued service with the Company on each such vesting date.

ORGANIZATION, LIQUIDITY AND S_2

ORGANIZATION, LIQUIDITY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Mar. 31, 2022
Accounting Policies [Abstract]
ORGANIZATION	ORGANIZATION Aethlon Medical, Inc. (collectively, “Aethlon”, the “Company”, “we” or “us”) is a medical technology company focused on developing products to diagnose and treat life and organ threatening diseases. The Aethlon Hemopurifier is a clinical-stage immunotherapeutic device designed to combat cancer and life-threatening viral infections. In cancer, the Hemopurifier is designed to deplete the presence of circulating tumor-derived exosomes that promote immune suppression, seed the spread of metastasis and inhibit the benefit of leading cancer therapies. The U.S. Food and Drug Administration, or FDA, has designated the Hemopurifier as a “Breakthrough Device” for two independent indications: · · We believe the Hemopurifier can be a substantial advance in the treatment of patients with advanced and metastatic cancer through the clearance of exosomes that promote the growth and spread of tumors through multiple mechanisms. We are currently conducting a clinical trial in patients with advanced and metastatic head and neck cancer. We are initially focused on the treatment of solid tumors, including head and neck cancer, gastrointestinal cancers and other cancers. As we advance our clinical trials, we are in close contact with our clinical sites to navigate and assess the impact of the COVID-19 global pandemic on our clinical trials and current timelines. On October 4, 2019, the FDA approved our Investigational Device Exemption, or IDE, application to initiate an Early Feasibility Study, or EFS, of the Hemopurifier in patients with head and neck cancer in combination with standard of care pembrolizumab (Keytruda). The primary endpoint for the EFS, which is designed to enroll 10 to 12 subjects at a single center, is safety, with secondary endpoints including measures of exosome clearance and characterization, as well as response and survival rates. This study, which is being conducted at the UPMC Hillman Cancer Center in Pittsburgh, Pennsylvania, has treated two patients and is in the process of recruiting additional patients. We are considering adding one or more additional sites to this trial to accelerate patient recruitment and we are also considering starting additional trials in other forms of cancer. We also believe the Hemopurifier can be part of the broad-spectrum treatment of life-threatening highly glycosylated, or carbohydrate coated, viruses that are not addressed with an already approved treatment. In small-scale or early feasibility human studies, the Hemopurifier has been used in the past to treat individuals infected with human immunodeficiency virus, or HIV, hepatitis C, and Ebola. Additionally, in vitro On June 17, 2020, the FDA approved a supplement to our open IDE for the Hemopurifier in viral disease to allow for the testing of the Hemopurifier in patients with SARS-CoV-2/COVID-19 in a New Feasibility Study. That study is designed to enroll up to 40 subjects at up to 20 centers in the U.S. Subjects will have established laboratory diagnosis of COVID-19, be admitted to an intensive care unit, or ICU, and will have acute lung injury and/or severe or life-threatening disease, among other criteria. Endpoints for this study, in addition to safety, include reduction in circulating virus as well as clinical outcomes (NCT # 04595903). Under Single Patient Emergency Use regulations, the Company has also treated two patients with COVID-19 with the Hemopurifier. In September 2021, we entered into an agreement with PPD, Inc., or PPD, a leading global contract research organization, or CRO, to oversee our U.S. clinical studies investigating the Hemopurifier for critically ill COVID-19 patients. We now have nine hospitals activated for patient enrollment and they are actively screening patients for the trial. These sites include LSU Shreveport, Valley Baptist Medical Center in Texas, Loma Linda Medical Center, Hoag Irvine and Newport Beach, University of California Davis, University of Miami Medical Center, Cooper Medical and Thomas Jefferson Medical Center. We are in the site activation process with three additional U.S. medical centers. We also obtained ethics review board approval and entered into a clinical trial agreement with Medanta Medicity Hospital, a multi-specialty hospital in Delhi NCR, India, for a COVID-19 clinical trial at that location. We have completed all site initiation activities at Medanta Medicity Hospital and this site is now open for enrollment and is actively screening patients. One patient recently has completed treatment protocol in this trial. We are also the majority owner of Exosome Sciences, Inc., or ESI, a company formed to focus on the discovery of exosomal biomarkers to diagnose and monitor life-threatening diseases. We consolidate ESI’s activities in our consolidated financial statements. Successful outcomes of human trials will also be required by the regulatory agencies of certain foreign countries where we plan to sell the Hemopurifier. Some of our patents may expire before FDA approval or approval in a foreign country, if any, is obtained. However, we believe that certain patent applications and/or other patents issued more recently will help protect the proprietary nature of the Hemopurifier treatment technology. In addition to the foregoing, we are monitoring closely the impact of the COVID-19 global pandemic on our business and have taken steps designed to protect the health and safety of our employees while continuing our operations. Given the level of uncertainty regarding the duration and impact of the COVID-19 pandemic on capital markets and the U.S. economy, we are unable to assess the impact of the worldwide spread of SARS-CoV-2 and the resulting COVID-19 pandemic on our timelines and future access to capital. We are continuing to monitor the spread of COVID-19 and its potential impact on our operations. The full extent to which the COVID-19 pandemic will impact our business, results of operations, financial condition, clinical trials, and preclinical research will depend on future developments that are highly uncertain, including actions taken to contain or treat COVID-19 and their effectiveness, as well as the economic impact on national and international markets. Our executive offices are located at 11555 Sorrento Valley Road, Suite 203, San Diego, California 92121. Our telephone number is (619) 941-0360. Our website address is www.aethlonmedical.com. Our common stock is listed on the Nasdaq Capital Market under the symbol “AEMD.”
LIQUIDITY AND GOING CONCERN	LIQUIDITY AND GOING CONCERN Management expects existing cash as of March 31, 2022 to be sufficient to fund the Company’s operations for at least twelve months from the issuance date of these consolidated financial statements.
PRINCIPLES OF CONSOLIDATION	PRINCIPLES OF CONSOLIDATION The accompanying consolidated financial statements include the accounts of Aethlon Medical, Inc. and its majority-owned ( 80 The losses at ESI during the fiscal year ended March 31, 2022 reduced the noncontrolling interests on our consolidated balance sheet by $4,794 from $( 136,914 141,708
RISKS AND UNCERTAINTIES	RISKS AND UNCERTAINTIES We operate in an industry that is subject to intense competition, government regulation and rapid technological change. Our operations are subject to significant risk and uncertainties including financial, operational, technological, regulatory, and including the potential risk of business failure.
USE OF ESTIMATES	USE OF ESTIMATES We prepare our consolidated financial statements in conformity with accounting principles generally accepted in the United States of America, or GAAP, which requires us to make a number of 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. Such estimates and assumptions affect the reported amounts of expenses during the reporting period. On an ongoing basis, we evaluate estimates and assumptions based upon historical experience and various other factors and circumstances. We believe our estimates and assumptions are reasonable in the circumstances; however, actual results may differ from these estimates under different future conditions. We believe that the estimates and assumptions that are most important to the portrayal of our financial condition and results of operations, in that they require the most difficult, subjective or complex judgments, form the basis for the accounting policies deemed to be most critical to us. These critical accounting estimates relate to revenue recognition, stock purchase warrants issued with notes payable, beneficial conversion feature of convertible notes payable, impairment of intangible assets and long lived assets, stock compensation, deferred tax asset valuation allowance, and contingencies.
CASH AND CASH EQUIVALENTS	CASH AND CASH EQUIVALENTS Accounting standards define “cash and cash equivalents” as any short-term, highly liquid investment that is both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. For the purpose of financial statement presentation, we consider all highly liquid investment instruments with original maturities of three months or less when purchased, or any investment redeemable without penalty or loss of interest to be cash equivalents. As of March 31, 2022 and 2021, we had no
CONCENTRATIONS OF CREDIT RISKS	CONCENTRATIONS OF CREDIT RISKS Cash is maintained at one financial institution in checking accounts. Accounts at this institution are secured by the Federal Deposit Insurance Corporation up to $250,000. Our March 31, 2022 cash balances were approximately $ 16,982,000 We do not believe that the Company is exposed to any significant risk with respect to its cash. All of our accounts receivable at March 31, 2022 and all of our revenue in the fiscal years ended March 31, 2022 and 2021 related to our government contracts.
RESTRICTED CASH	RESTRICTED CASH To comply with the terms of our new laboratory, office, and manufacturing space leases, we caused our bank to issue two standby letters of credit, or the L/C’s, in the amount of $ 87,506
PROPERTY AND EQUIPMENT	PROPERTY AND EQUIPMENT Property and equipment are stated at cost. Depreciation is computed using the straight-line method over the estimated useful lives of the related assets, which range from two to five years. Repairs and maintenance are charged to expense as incurred while improvements are capitalized. Upon the sale or retirement of property and equipment, the accounts are relieved of the cost and the related accumulated depreciation with any gain or loss included in the consolidated statements of operations.
INCOME TAXES	INCOME TAXES Deferred tax assets and liabilities are recognized for the future tax consequences attributable to the difference between the consolidated financial statements and their respective tax basis. Deferred income taxes reflect the net tax effects of (a) temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts reported for income tax purposes, and (b) tax credit carryforwards. We record a valuation allowance for deferred tax assets when, based on our best estimate of taxable income (if any) in the foreseeable future, it is more likely than not that some portion of the deferred tax assets may not be realized.
LONG-LIVED ASSETS	LONG-LIVED ASSETS Long-lived assets are reviewed for impairment whenever events or changes in circumstances indicate that their carrying amounts may not be recoverable. If the cost basis of a long-lived asset is greater than the projected future undiscounted net cash flows from such asset, an impairment loss is recognized. We believe no
LOSS PER SHARE	LOSS PER SHARE Basic loss per share is computed by dividing net income available to common stockholders by the weighted average number of common shares outstanding during the period of computation. Diluted loss per share is computed similar to basic loss per share except that the denominator is increased to include the number of additional common shares that would have been outstanding if potential common shares had been issued, if such additional common shares were dilutive. Since we had net losses for all periods presented, basic and diluted loss per share are the same, and additional potential common shares have been excluded as their effect would be antidilutive. As of March 31, 2022 and 2021, a total of 2,243,838 2,836,062
SEGMENTS	SEGMENTS We operate our businesses principally through two reportable segments: Aethlon, which represents our therapeutic business activities, and ESI, which represents our diagnostic business. Our reportable segments have been determined based on the nature of the potential products being developed. We record discrete financial information for ESI, consisting of patent maintenance costs. Aethlon’s revenue is generated primarily from government contracts to date and ESI does not have any revenues or activities other than patent maintenance. We have not included any allocation of corporate overhead to the ESI segment.
DEFERRED FINANCING COSTS	DEFERRED FINANCING COSTS Costs related to the issuance of debt are capitalized as a deduction to our convertible notes based on the accounting standard on imputation of interest, and amortized to interest expense over the life of the related debt using the effective interest method. There was no
REVENUE RECOGNITION	REVENUE RECOGNITION Our revenues consist entirely of amounts earned under contracts and grants with the National Institutes of Health, or NIH. During the fiscal years ended March 31, 2022 and 2021, we recognized revenues totaling $ 294,165 659,104 We identify the deliverables included within these agreements and evaluate which deliverables represent separate units of accounting based on if certain criteria are met, including whether the delivered element has standalone value to the collaborator. The consideration received is allocated among the separate units of accounting, and the applicable revenue recognition criteria are applied to each of the separate units. A milestone is an event having all of the following characteristics: (1) There is substantive uncertainty at the date the arrangement is entered into that the event will be achieved. A vendor’s assessment that it expects to achieve a milestone does not necessarily mean that there is not substantive uncertainty associated with achieving the milestone. (2) The event can only be achieved based in whole or in part on either: (a) the vendor’s performance; or (b) a specific outcome resulting from the vendor’s performance. (3) If achieved, the event would result in additional payments being due to the vendor. A milestone does not include events for which the occurrence is either: (a) contingent solely upon the passage of time; or (b) the result of a counterparty’s performance. The policy for recognizing deliverable consideration contingent upon achievement of a milestone must be applied consistently to similar deliverables. The assessment of whether a milestone is substantive is performed at the inception of the arrangement. The consideration earned from the achievement of a milestone must meet all of the following for the milestone to be considered substantive: (1) The consideration is commensurate with either: (a) the vendor’s performance to achieve the milestone; or (b) the enhancement of the value of the delivered item or items as a result of a specific outcome resulting from the vendor’s performance to achieve the milestone; (2) The consideration relates solely to past performance; and (3) The consideration is reasonable relative to all of the deliverables and payment terms (including other potential milestone consideration) within the arrangement. A milestone is not considered substantive if any portion of the associated milestone consideration relates to the remaining deliverables in the unit of accounting (i.e., it does not relate solely to past performance). To recognize the milestone consideration in its entirety as revenue in the period in which the milestone is achieved, the milestone must be substantive in its entirety. Milestone consideration cannot be bifurcated into substantive and nonsubstantive components. In addition, if a portion of the consideration earned from achieving a milestone may be refunded or adjusted based on future performance, the related milestone is not considered substantive. We have recognized revenue under the following three government contracts/grants over the past two years: Phase 2 Melanoma Cancer Contract On September 12, 2019, the National Cancer Institute, or NCI, part of the National Institutes of Health, or NIH, awarded to us an SBIR Phase II Award Contract, for NIH/NCI Topic 359, entitled “A Device Prototype for Isolation of Melanoma Exosomes for Diagnostics and Treatment Monitoring”, or the Award Contract. The Award Contract amount is $ 1,860,561 The work performed pursuant to this Award Contract focused on melanoma exosomes. This work follows from our completion of a Phase I contract for the Topic 359 solicitation that ran from September 2017 through June 2018. Following on the Phase I work, the deliverables in the Phase II program involve the design and testing of a pre-commercial prototype of a more advanced version of the exosome isolation platform. During the fiscal year ended March 31, 2022, we recorded $ 229,698 During the fiscal year ended March 31, 2021, we completed the milestones relevant to the first nine months of the fiscal year and, as a result, we recorded $ 436,427 Breast Cancer Grant In the fiscal year ended March 31, 2021, we completed and submitted the final reports applicable to this NCI grant (number 1R43CA232977-01). The title of this Small Business Innovation Research, or SBIR, Phase I grant is “The Hemopurifier Device for Targeted Removal of Breast Cancer Exosomes from the Blood Circulation,” or the Breast Cancer Grant. This NCI Phase I grant period originally ran from September 14, 2018 through August 31, 2019. In August 2019, we applied for and received a no cost, twelve month extension on this grant; through August 31, 2020. The total amount of the firm grant was $298,444. The grant called for two subcontractors to work with us. Those subcontractors were University of Pittsburgh and Massachusetts General Hospital. As of December 31, 2020, we have received all of the funds allocated to the Breast Cancer Grant. During the fiscal year ended March 31, 2021, we recorded the remaining $ 188,444 As of March 31, 2021, we received all of the funds allocated to the Breast Cancer Grant and have submitted the final reports applicable to this grant. Subaward with University of Pittsburgh In 2020, we entered into a cost reimbursable subaward arrangement with the University of Pittsburgh in connection with an NIH contract entitled “Depleting Exosomes to Improve Responses to Immune Therapy in HNNCC.” Our share of the award is $ 256,750 64,467 34,233
STOCK-BASED COMPENSATION	STOCK-BASED COMPENSATION Employee stock options and rights to purchase shares under stock participation plans are accounted for under the fair value method. Accordingly, share-based compensation is measured when all granting activities have been completed, generally the grant date, based on the fair value of the award. The exercise price of options is generally equal to the market price of the Company’s common stock (defined as the closing price as quoted on the Nasdaq Capital Market or OTCBB on the date of grant). Compensation cost recognized by the Company includes (a) compensation cost for all equity incentive awards granted prior to April 1, 2006, but not yet vested, based on the grant-date fair value estimated in accordance with the original provisions of the then current accounting standards, and (b) compensation cost for all equity incentive awards granted subsequent to March 31, 2006, based on the grant-date fair value estimated in accordance with the provisions of subsequent accounting standards. We use a Binomial Lattice option pricing model for estimating fair value of options granted (see Note 4). The following table summarizes share-based compensation expenses relating to shares and options granted and the effect on loss per common share during the years ended March 31, 2022 and 2021: Share-based compensation expenses Fiscal Years Ended March 31, 2022 March 31, 2021 Vesting of Stock Options and Restricted Stock Units $ 750,621 $ 779,421 Total Stock-Based Compensation Expense $ 750,621 $ 779,421 Weighted average number of common shares outstanding – basic and diluted 14,756,967 12,090,884 Basic and diluted loss per common share $ (0.05 ) $ (0.06 ) We record share-based compensation expenses for awards of stock options and RSUs under ASC 718, Share-based compensation, or ASC 718. For awards to non-employees for periods prior to the adoption of ASU 2018-07, Compensation-Stock Compensation: Improvements to Non-employee Share-Based Payment Accounting, on April 1, 2019, the Company had applied ASC 505-50, Equity – Equity-based payments to non-employees, or ASC 505-50. ASC 718 establishes guidance for the recognition of expenses arising from the issuance of share-based compensation awards at their fair value at the grant date. We recognize share-based compensation expense related to stock options and SARs granted to employees, directors and consultants based on the estimated fair value of the awards on the date of grant. We estimate the grant date fair value, and the resulting share-based compensation expense, for stock options that only have service vesting requirements or performance-based vesting requirements without market conditions using the binomial lattice option-pricing model. The grant date fair value of the share-based awards with service vesting requirements is generally recognized on a straight-line basis over the requisite service period, which is generally the vesting period of the respective awards. Determining the appropriate amount to expense for performance-based awards based on the achievement of stated goals requires judgment. The estimate of expense is revised periodically based on the probability of achieving the required performance targets and adjustments are made as appropriate. The cumulative impact of any revisions is reflected in the period of change. If any applicable financial performance goals are not met, no compensation cost is recognized and any previously recognized compensation cost is reversed. For performance-based awards with market conditions, we determine the fair value of awards as of the grant date using a Monte Carlo simulation model. We review share-based compensation on a quarterly basis for changes to the estimate of expected award forfeitures based on actual forfeiture experience. The effect of adjusting the forfeiture rate for all expense amortization after March 31, 2007 is recognized in the period the forfeiture estimate is changed. The effect of forfeiture adjustments for the fiscal year ended March 31, 2022 was insignificant.
PATENTS	PATENTS Patents include both foreign and domestic patents. We capitalize the cost of patents, some of which were acquired, and amortize such costs over the shorter of the remaining legal life or their estimated economic life, upon issuance of the patent. The unamortized costs of patents are subject to our review for impairment under our long-lived asset policy above.
STOCK PURCHASE WARRANTS	STOCK PURCHASE WARRANTS In the past we issued warrants for the purchase of shares of our common stock in connection with the issuance of common stock for cash. Warrants issued in connection with common stock for cash, if classified as equity, are considered issued in connection with equity transactions and the warrant fair value is recorded to additional paid-in-capital.
RESEARCH AND DEVELOPMENT EXPENSES	RESEARCH AND DEVELOPMENT EXPENSES Our research and development costs are expensed as incurred. We incurred approximately $ 2,341,000 2,072,000
OFF-BALANCE SHEET ARRANGEMENTS	OFF-BALANCE SHEET ARRANGEMENTS We have not entered into any off-balance sheet arrangements that have or are reasonably likely to have a current or future material effect on our consolidated financial statements.
SIGNIFICANT RECENT ACCOUNTING PRONOUNCEMENTS	SIGNIFICANT RECENT ACCOUNTING PRONOUNCEMENTS In June 2018, the FASB issued ASU No. 2018-07, Compensation-Stock Compensation (Topic 718), Improvements to Nonemployee Share-Based Payment Accounting, or ASU No. 2018-07. ASU No. 2018-07 expands the scope of Topic 718 to include share-based payment transactions for acquiring goods and services from nonemployees. ASU No. 2018-07 is effective for interim and annual reporting periods beginning after December 15, 2018. Entities must apply the guidance retrospectively with a cumulative effect adjustment to retained earnings as of the beginning of the period of adoption. The adoption of ASU No. 2018-07 on April 1, 2019 did not have a material impact on the Company's consolidated financial position, results of operations and related disclosures. On April 1, 2019, the Company adopted ASC Topic 842, Leases,” utilizing the alternative transition method allowed for under this guidance. As a result, the Company recorded lease liabilities and right-of-use lease assets on its balance sheet. Topic 842 also allows lessees and lessors to elect certain practical expedients. The Company elected the following practical expedients: · Transitional practical expedients, which must be elected as a package and applied consistently to all of the Company’s leases: ° The Company need not reassess whether any expired or existing contracts are or contain leases. ° The Company need not reassess the lease classification for any expired or existing leases (that is, all existing leases that were classified as operating leases in accordance with the previous guidance will be classified as operating leases, and all existing leases that were classified as capital leases in accordance with the previous guidance will be classified as finance leases). ° The Company need not reassess initial direct costs for any existing leases. · Hindsight practical expedient. The Company elected the hindsight practical expedient in determining the lease term (that is, when considering lessee options to extend or terminate the lease and to purchase the underlying asset) and in assessing impairment of the Company’s right-of-use assets.

ORGANIZATION, LIQUIDITY AND S_3

ORGANIZATION, LIQUIDITY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	12 Months Ended
	Mar. 31, 2022
Accounting Policies [Abstract]
Share-based compensation expenses	Share-based compensation expenses Fiscal Years Ended March 31, 2022 March 31, 2021 Vesting of Stock Options and Restricted Stock Units $ 750,621 $ 779,421 Total Stock-Based Compensation Expense $ 750,621 $ 779,421 Weighted average number of common shares outstanding – basic and diluted 14,756,967 12,090,884 Basic and diluted loss per common share $ (0.05 ) $ (0.06 )

PROPERTY AND EQUIPMENT, NET (Ta

PROPERTY AND EQUIPMENT, NET (Tables)	12 Months Ended
	Mar. 31, 2022
Property, Plant and Equipment [Abstract]
Schedule of property and equipment	Schedule of property and equipment March 31, 2022 March 31, 2021 Furniture and office equipment, at cost $ 813,412 $ 585,910 Leasehold improvements 121,690 – Accumulated depreciation (493,864 ) (424,934 ) Furniture and office equipment, net $ 441,238 $ 160,976

PATENTS, NET (Tables)

PATENTS, NET (Tables)	12 Months Ended
	Mar. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of patents	Schedule of patents March 31, 2022 March 31, 2021 Issued patents $ 157,442 $ 157,442 Accumulated amortization (155,242 ) (154,691 ) Issued patents, net of accumulated amortization 2,200 2,751 Patents pending – 54,203 Patents, net $ 2,200 $ 56,954

EQUITY TRANSACTIONS (Tables)

EQUITY TRANSACTIONS (Tables)	12 Months Ended
	Mar. 31, 2022
Equity [Abstract]
Summary of warrant activity	Summary of warrant activity Fiscal Year Ended March 31, 2022 2021 Warrants Weighted Warrants Weighted Outstanding, beginning of year 1,991,973 $ 5.23 2,021,368 $ 5.21 Granted – $ N/A – $ N/A Exercised (1,206,721 ) $ 2.21 – $ N/A Cancelled/Forfeited (208,514 ) $ 6.11 (29,395 ) $ 91.17 Outstanding, end of year 576,738 $ 11.21 1,991,973 $ 5.23 Exercisable, end of year 576,738 $ 11.21 1,991,973 $ 5.23 Weighted average estimated fair value of warrants granted $ N/A $ 1.22
Summary of warrant activity exercisable and outstanding	Summary of warrant activity exercisable and outstanding Warrants Outstanding Warrants Exercisable Range of Number Weighted Weighted Number Weighted $2.75 or Below 326,753 2.78 $ 2.01 326,753 $ 2.01 $16.50 - $59.25 249,985 0.43 $ 23.24 249,985 $ 23.24 576,738 576,738
Options outstanding that have vested and are expected to vest	Options outstanding that have vested and are expected to vest Number of Weighted Weighted Vested 267,221 $ 2.51 8.21 Expected to vest 1,398,727 $ 2.27 9.17 Total 1,665,948
Summary of stock options outstanding	Summary of stock options outstanding Fiscal Year Ended March 31, 2022 2021 Options Weighted Options Weighted Outstanding, beginning of year 844,089 $ 3.07 51,124 $ 44.12 Granted 941,188 $ 2.48 1,011,860 $ 1.71 Exercised (11,562 ) $ 2.45 (15,896 ) $ 1.28 Cancelled/Forfeited (107,767 ) $ 9.66 (202,999 ) $ 6.76 Outstanding, end of year 1,665,948 $ 2.31 844,089 $ 3.07 Exercisable, end of year 267,221 $ 2.51 58,954 $ 20.06 Weighted average estimated fair value of options granted $ 2.41 $ 1.58
Detail of options outstanding and exercisable by exercise price	Detail of options outstanding and exercisable by exercise price Options Outstanding Options Exercisable Exercise Prices Number Weighted Weighted Number Weighted $1.28 - $1.68 1,154,114 9.39 $ 1.38 193,526 $ 1.33 $2.45 - $5.17 508,654 9.09 $ 3.91 70,515 $ 2.52 $57.00 - $142.50 3,180 1.43 $ 84.50 3,180 $ 84.50 1,665,948 267,221
Schedule of stock-based compensation	Schedule of stock-based compensation Fiscal Year Ended March 31, 2022 March 31, 2021 Vesting of restricted stock units $ 150,000 $ 175,000 Vesting of restricted shares issued for services 16,500 1,500 Vesting of stock options 584,121 602,921 Total Stock-Based Compensation $ 750,621 $ 779,421

RELATED PARTY TRANSACTIONS (Tab

RELATED PARTY TRANSACTIONS (Tables)	12 Months Ended
	Mar. 31, 2022
Related Party Transactions [Abstract]
Due to related parties	Due to related parties March 31, 2022 March 31, 2021 Accrued Board fees $ 55,750 $ 52,000 Accrued vacation 99,992 66,520 Total due to related parties $ 155,742 $ 118,520

OTHER CURRENT LIABILITIES (Tabl

OTHER CURRENT LIABILITIES (Tables)	12 Months Ended
	Mar. 31, 2022
Other Liabilities Disclosure [Abstract]
Other Current Liabilities	Other Current Liabilities March 31, 2022 March 31, 2021 Accrued separation expenses for former executive $ – $ 284,270 Accrued professional fees 696,893 477,366 Total other current liabilities $ 696,893 $ 761,636

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Mar. 31, 2022
Income Tax Disclosure [Abstract]
Schedule of deferred tax assets	Schedule of deferred tax assets YEAR ENDED MARCH 31, 2022 2021 Deferred tax assets: Capitalized research and development $ 3,442,000 $ 3,442,000 Net operating loss carryforwards 1 22,039,000 19,921,000 Stock compensation 1,609,000 1,399,000 Total deferred tax assets 27,090,000 24,762,000 Total deferred tax liabilities – – Net deferred tax assets 27,090,000 24,762,000 Valuation allowance for deferred tax assets (27,090,000 ) (24,762,000 ) Net deferred tax assets $ – $ –
Provision for income taxes	Provision for income taxes 2022 2021 Income taxes (benefit) at federal statutory rate of 21.00% $ (2,188,000 ) $ (1,657,000 ) Tax effect on non-deductible expenses and credits 1,000 1,000 True up items (5,000 ) 25,000 Expiration of net operating loss carryforwards (1) 593,000 427,000 Change in valuation allowance 1,599,000 1,204,000 Income Tax Expense (Benefit) $ – $ – ______________ (1) Pursuant to Internal Revenue Code Section 382, use of our tax net operating loss carryforwards may be limited.

SEGMENTS (Tables)

SEGMENTS (Tables)	12 Months Ended
	Mar. 31, 2022
Segment Reporting [Abstract]
Schedule of segments	Schedule of segments Fiscal Years Ended March 31, 2022 2021 Revenues: Aethlon $ 294,165 $ 659,104 ESI – – Total Revenues $ 294,165 $ 659,104 Operating Losses: Aethlon $ (10,396,914 ) $ (7,867,547 ) ESI (23,971 ) (23,952 ) Total Operating Loss $ (10,420,885 ) $ (7,891,499 ) Net Losses: Aethlon $ (10,396,914 ) $ (7,867,547 ) ESI (23,971 ) (23,952 ) Net Loss Before Non-Controlling Interests $ (10,420,885 ) $ (7,891,499 ) Cash: Aethlon $ 17,072,222 $ 9,861,378 ESI 197 197 Total Cash $ 17,072,419 $ 9,861,575 Total Assets: Aethlon $ 19,417,757 $ 10,668,719 ESI 197 197 Total Assets $ 19,417,954 $ 10,668,916 Depreciation and Amortization: Aethlon $ 123,685 $ 39,939 ESI – – Total Depreciation and Amortization $ 123,685 $ 39,939 Capital Expenditures: Aethlon $ 349,193 $ 59,881 ESI – – Capital Expenditures $ 349,193 $ 59,881

ORGANIZATION, LIQUIDITY AND S_4

ORGANIZATION, LIQUIDITY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) - USD ($)	12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock Based Compensation	$ 750,621	$ 779,421
Weighted average number of common shares outstanding - basic and diluted	14,756,967	12,090,884
Basic and diluted loss per common share	$ (0.05)	$ (0.06)
Employee Stock Option R S U [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock Based Compensation	$ 750,621	$ 779,421

ORGANIZATION, LIQUIDITY AND S_5

ORGANIZATION, LIQUIDITY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) - USD ($)	12 Months Ended		36 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Sep. 15, 2022
Noncontrolling interests	$ (141,708)	$ (136,914)
Cash equivalents	0	0
Cash balances over insured amount	16,982,000
Restricted Cash	87,506	46,726
Asset impairment charges	$ 0	$ 0
Shares considered antidilutive	2,243,838	2,836,062
Amortization of deferred financing costs	$ 0	$ 0
Contract revenue	294,165	659,104
Revenue	294,165	659,104
Research and development expenses	2,341,000	2,072,000
Subaward With University Of Pittsburgh [Member]
Revenue	64,467	34,233
Phase 2 Melanoma Cancer Contract [Member]
Government contract revenue	229,698	436,427
Breast Cancer Grant [Member]
Revenue		$ 188,444
Melanoma Cancer Contract Phase 2 [Member]
Award Contract amount			$ 1,860,561
Subaward With University Of Pittsburgh [Member]
Award Contract amount	$ 256,750
E S I [Member]
Equity ownership percentage	80%	80%
Noncontrolling interests	$ 141,708	$ 136,914

PROPERTY AND EQUIPMENT (Details

PROPERTY AND EQUIPMENT (Details) - USD ($)	Mar. 31, 2022	Mar. 31, 2021
Property, Plant and Equipment [Abstract]
Furniture and office equipment, at cost	$ 813,412	$ 585,910
Leasehold improvements	121,690	0
Accumulated depreciation	(493,864)	(424,934)
Furniture and office equipment, net	$ 441,238	$ 160,976

PROPERTY AND EQUIPMENT, NET (De

PROPERTY AND EQUIPMENT, NET (Details Narrative) - USD ($)	12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 68,931	$ 39,389

Patents, net (Details)

Patents, net (Details) - USD ($)	Mar. 31, 2022	Mar. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Issued patents	$ 157,442	$ 157,442
Accumulated amortization	(155,242)	(154,691)
Issued patents, net of accumulated amortization	2,200	2,751
Patents pending	0	54,203
Patents, net	$ 2,200	$ 56,954

PATENTS, NET (Details Narrative

PATENTS, NET (Details Narrative) - USD ($)	12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization of patents	$ 54,754	$ 550
Weighted average remaining life of patents	4 years

EQUITY TRANSACTIONS (Details -

EQUITY TRANSACTIONS (Details - Warrant activity) - $ / shares		12 Months Ended
	Apr. 03, 2020	Mar. 31, 2022	Mar. 31, 2021
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Warrants granted	24,822
Warrant [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Warrants outstanding, beginning balance	2,021,368	1,991,973	2,021,368
Outstanding, Weighted Average Exercise Price	$ 5.21	$ 5.23	$ 5.21
Warrants granted		0	0
Warrants exercised		(1,206,721)	0
Exercised, Weighted Average Exercise Price		$ 2.21
Warrants cancelled/forfeited		(208,514)	(29,395)
Cancelled/Forfeited, Weighted Average Exercise Price		$ 6.11	$ 91.17
Warrants outstanding, ending balance		576,738	1,991,973
Outstanding Weighted Average Exercise Price		$ 11.21	$ 5.23
Warrants exercisable		576,738	1,991,973
Exercisable, Weighted Average Exercise Price		$ 11.21	$ 5.23
Warrants Weighted average estimated fair value of warrants granted			$ 1.22

EQUITY TRANSACTIONS (Details _2

EQUITY TRANSACTIONS (Details - Warrants outstanding and exercisable) - Warrant [Member] - $ / shares	12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2020
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Warrants outstanding	576,738	1,991,973	2,021,368
Weighted Average Exercise Price, outstanding	$ 11.21	$ 5.23	$ 5.21
Warrants exercisable	576,738
Price 1 [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Warrants outstanding	326,753
Weighted Average Remaining Life (Years)	2 years 9 months 10 days
Weighted Average Exercise Price, outstanding	$ 2.01
Warrants exercisable	326,753
Weighted Average Exercise Price, exercisable	$ 2.01
Price 2 [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Warrants outstanding	249,985
Weighted Average Remaining Life (Years)	5 months 4 days
Weighted Average Exercise Price, outstanding	$ 23.24
Warrants exercisable	249,985
Weighted Average Exercise Price, exercisable	$ 23.24

EQUITY TRANSACTIONS (Details _3

EQUITY TRANSACTIONS (Details - Option Outstanding) - Equity Option [Member]	12 Months Ended
	Mar. 31, 2022 $ / shares shares
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Options vested	267,221
Weighted average exercise price options vested | $ / shares	$ 2.51
Weighted average remaining contractual term options vested	8 years 2 months 15 days
Options expected to vest	1,398,727
Weighted average exercise price options expected to vest | $ / shares	$ 2.27
Weighted average remaining contractual term options expected to vest	9 years 2 months 1 day
Total options outstanding	1,665,948

EQUITY TRANSACTIONS (Details _4

EQUITY TRANSACTIONS (Details - Option activity) - Options Held [Member] - $ / shares	12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock options Outstanding, beginning balance	844,089	51,124
Outstanding, Weighted Average Exercise Price, beginning price	$ 3.07	$ 44.12
Stock options granted	941,188	1,011,860
Granted, Weighted Average Exercise Price	$ 2.48	$ 1.71
Stock options exercised	(11,562)	(15,896)
Exercised, Weighted Average Exercise Price	$ 2.45	$ 1.28
Stock options cancelled/forfeited	(107,767)	(202,999)
Cancelled/Forfeited, Weighted Average Exercise Price	$ 9.66	$ 6.76
Stock options outstanding, ending balance	1,665,948	844,089
Outstanding Weighted Average Exercise Price, ending price	$ 2.31	$ 3.07
Stock options exercisable	267,221	58,954
Exercisable, Weighted Average Exercise Price	$ 2.51	$ 20.06
Stock options Weighted average estimated fair value of warrants granted	$ 2.41	$ 1.58

EQUITY TRANSACTIONS (Details _5

EQUITY TRANSACTIONS (Details - Options exercisable) - Options Held [Member] - $ / shares	12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2020
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock options outstanding	1,665,948	844,089	51,124
Outstanding Weighted Average Exercise Price	$ 2.31	$ 3.07	$ 44.12
Stock options exercisable	267,221	58,954
Stock options exercisable Weighted Average Exercise Price	$ 2.51	$ 20.06
$1.28 - $1.68 [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock options outstanding	1,154,114
Weighted Average Remaining Life (Years)	9 years 4 months 20 days
Outstanding Weighted Average Exercise Price	$ 1.38
Stock options exercisable	193,526
Stock options exercisable Weighted Average Exercise Price	$ 1.33
$2.45 - $5.17 [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock options outstanding	508,654
Weighted Average Remaining Life (Years)	9 years 1 month 2 days
Outstanding Weighted Average Exercise Price	$ 3.91
Stock options exercisable	70,515
Stock options exercisable Weighted Average Exercise Price	$ 2.52
$57.00 - $142.50 [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock options outstanding	3,180
Weighted Average Remaining Life (Years)	1 year 5 months 4 days
Outstanding Weighted Average Exercise Price	$ 84.50
Stock options exercisable	3,180
Stock options exercisable Weighted Average Exercise Price	$ 84.50

EQUITY TRANSACTIONS (Details _6

EQUITY TRANSACTIONS (Details - Stockbased Compensation) - USD ($)	12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock Based Compensation	$ 750,621	$ 779,421
Restricted Stock Units (RSUs) [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock Based Compensation	150,000	175,000
Restricted Shares Issued For Services [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock Based Compensation	16,500	1,500
Options Held [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock Based Compensation	$ 584,121	$ 602,921

EQUITY TRANSACTIONS (Details Na

EQUITY TRANSACTIONS (Details Narrative) - USD ($)				1 Months Ended										12 Months Ended
	Feb. 10, 2022	Apr. 02, 2021	Apr. 03, 2020	Mar. 31, 2022	Mar. 24, 2022	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Feb. 28, 2021	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2022	Mar. 31, 2021
Subsidiary, Sale of Stock [Line Items]
Proceeds from issuance of common stock and warrants														$ 17,456,092	$ 7,260,869
Share price			$ 1.41
Warrants Cancelled														199,110
Offering price					$ 15,000,000
Restricted stock grant			24,822
Payments to satify tax withholding														$ 88,118	$ 132,527
Share-Based Compensation Arrangement by Share-Based Payment Award, Non-Option Equity Instruments, Outstanding, Number									0						0
Stock based compensation expense														$ 750,621	$ 779,421
Interest rate														25%
Vesting period	36 months
Intrinsic value per share														$ 1.46
Unrecognized compensation cost to share based														$ 2,724,000
Weighted average period														3 years 3 months 18 days
N 2010 Stock Plan [Member]
Subsidiary, Sale of Stock [Line Items]
Restricted stock grant			23,893
Equity 2020 Plan [Member] | Chief Executive Officer [Member]
Subsidiary, Sale of Stock [Line Items]
Options granted	192,600
Equity 2020 Plan [Member] | Chief Medicall Officer [Member]
Subsidiary, Sale of Stock [Line Items]
Options granted	100,200
Equity 2020 Plan [Member] | Chief Operating Officer [Member]
Subsidiary, Sale of Stock [Line Items]
Options granted	100,200
Equity 2020 Plan [Member] | Chief Financial Officer [Member]
Subsidiary, Sale of Stock [Line Items]
Options granted	100,200
Equity Option [Member]
Subsidiary, Sale of Stock [Line Items]
Proceeds from options exercised														$ 28,325
Stock issued for exercise of options														11,562
Restricted Stock Units (RSUs) [Member]
Subsidiary, Sale of Stock [Line Items]
Conversion of Stock, Shares Converted				18,221		18,221	18,221	18,221	32,189		32,189		29,866
Conversion of Stock, Shares Issued												29,866
Stock based compensation expense														$ 150,000	$ 175,000
Restricted Stock Units (RSUs) [Member] | Non Employee Directors [Member]
Subsidiary, Sale of Stock [Line Items]
Stock cancelled in exchange for withholding tax, shares				7,289		7,289	7,289	7,289	12,875		12,876	11,947	11,947
Payments to satify tax withholding				$ 10,641		$ 13,557	$ 28,134	$ 35,786	$ 26,136		$ 31,802	$ 16,128	$ 24,251
Restricted Stock Units (RSUs) [Member] | Plan 2020 [Member]
Subsidiary, Sale of Stock [Line Items]
Restricted stock grant		24,295
Warrants [Member]
Subsidiary, Sale of Stock [Line Items]
Warrants exercised, common shares issued														531,167
Proceeds from warrant exercises														$ 820,938
Warrants Cashless Basis [Member]
Subsidiary, Sale of Stock [Line Items]
Warrants exercised cashless basis														874,664
Stock issued from exercise of warrants cashless basis														675,554
Maxim Group L L C [Member]
Subsidiary, Sale of Stock [Line Items]
Share price									$ 9						$ 9
CEO [Member] | Equity 2020 Plan [Member]
Subsidiary, Sale of Stock [Line Items]
Options granted														266,888
Share price														$ 5.17
Maxim Group L L C [Member]
Subsidiary, Sale of Stock [Line Items]
Proceeds from issuance of common stock and warrants														$ 11,659,044
Stock issued new, shares issued														1,380,555
Investor Relations Consultant [Member] | Restricted Stock Units (RSUs) [Member]
Subsidiary, Sale of Stock [Line Items]
Stock Issued During Period, Shares, Restricted Stock Award, Gross										7,758
Stock Issued During Period, Value, Restricted Stock Award, Gross										$ 18,000
Stock based compensation expense														$ 16,500	$ 1,500
Offering Agreement [Member]
Subsidiary, Sale of Stock [Line Items]
Proceeds from issuance of common stock and warrants														$ 4,947,785
Stock issued new, shares issued														626,000
Stock sale - average price per share														$ 7.90
Offering Agreement [Member] | Hc Wainwright [Member]
Subsidiary, Sale of Stock [Line Items]
Payment of commissions														$ 126,922	224,825
Offering Agreement [Member] | Other Offering Expense [Member]
Subsidiary, Sale of Stock [Line Items]
Payment of stock issuance costs														$ 2,154	8,472
Common Stock Sales Agr [Member] | Wainwright [Member]
Subsidiary, Sale of Stock [Line Items]
Proceeds from issuance of common stock and warrants															$ 7,260,869
Stock issued new, shares issued															2,685,600
Stock sale price per share									$ 2.70						$ 2.70

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details) - USD ($)	Mar. 31, 2022	Mar. 31, 2021
Related Party Transaction [Line Items]
Due to related parties	$ 155,742	$ 118,520
Accrued Board Fees [Member]
Related Party Transaction [Line Items]
Due to related parties	55,750	52,000
Accrued Vacation [Member]
Related Party Transaction [Line Items]
Due to related parties	$ 99,992	$ 66,520

RELATED PARTY TRANSACTIONS (D_2

RELATED PARTY TRANSACTIONS (Details Narrative)	Mar. 31, 2022 USD ($)
Related Party Transactions [Abstract]
Accrued unpaid Board fees	$ 55,750

OTHER CURRENT LIABILITIES (Deta

OTHER CURRENT LIABILITIES (Details) - USD ($)	Mar. 31, 2022	Mar. 31, 2021
Other Liabilities Disclosure [Abstract]
Accrued separation expenses for former executive	$ 0	$ 284,270
Accrued professional fees	696,893	477,366
Total other current liabilities	$ 696,893	$ 761,636

INCOME TAXES (Details - Deferre

INCOME TAXES (Details - Deferred tax assets) - USD ($)	Mar. 31, 2022	Mar. 31, 2021
Deferred tax assets:
Capitalized research and development	$ 3,442,000	$ 3,442,000
Net operating loss carryforwards1	22,039,000	19,921,000
Stock compensation	1,609,000	1,399,000
Total deferred tax assets	27,090,000	24,762,000
Total deferred tax liabilities	0	0
Net deferred tax assets	27,090,000	24,762,000
Valuation allowance for deferred tax assets	(27,090,000)	(24,762,000)
Net deferred tax assets	$ 0	$ 0

INCOME TAXES (Details - Provisi

INCOME TAXES (Details - Provision for income taxes) - USD ($)		12 Months Ended
		Mar. 31, 2022	Mar. 31, 2021
Income Tax Disclosure [Abstract]
Income taxes (benefit) at federal statutory rate of 21.00%		$ (2,188,000)	$ (1,657,000)
Tax effect on non-deductible expenses and credits		1,000	1,000
True up items		(5,000)	25,000
Expiration of state net operating loss carryforwards	[1]	593,000	427,000
Change in valuation allowance		1,599,000	1,204,000
Income Tax Expense (Benefit)		$ 0	$ 0
[1]Pursuant to Internal Revenue Code Section 382, use of our tax net operating loss carryforwards may be limited.

INCOME TAXES (Details Narrative

INCOME TAXES (Details Narrative) - USD ($)	Mar. 31, 2022	Mar. 31, 2021
Operating Loss Carryforwards [Line Items]
Unrecognized tax benefits	$ 0	$ 0
Federal [Member]
Operating Loss Carryforwards [Line Items]
Net operating loss carryforward	87,000,000
State [Member]
Operating Loss Carryforwards [Line Items]
Net operating loss carryforward	$ 69,000,000

SEGMENTS (Details)

SEGMENTS (Details) - USD ($)	12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Segment Reporting Information [Line Items]
Revenues	$ 294,165	$ 659,104
Operating Losses	(10,420,885)	(7,891,499)
Net Losses	(10,420,885)	(7,891,499)
Cash	17,072,419	9,861,575
Total Assets	19,417,954	10,668,916
Depreciation and Amortization	123,685	39,939
Capital Expenditures	349,193	59,881
Aethlon [Member]
Segment Reporting Information [Line Items]
Revenues	294,165	659,104
Operating Losses	(10,396,914)	(7,867,547)
Net Losses	(10,396,914)	(7,867,547)
Cash	17,072,222	9,861,378
Total Assets	19,417,757	10,668,719
Depreciation and Amortization	123,685	39,939
Capital Expenditures	349,193	59,881
E S I [Member]
Segment Reporting Information [Line Items]
Revenues	0	0
Operating Losses	(23,971)	(23,952)
Net Losses	(23,971)	(23,952)
Cash	197	197
Total Assets	197	197
Depreciation and Amortization	0	0
Capital Expenditures	$ 0	$ 0

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details Narrative) - USD ($)	3 Months Ended	12 Months Ended
	Mar. 31, 2022	Mar. 31, 2022	Mar. 31, 2021	Oct. 01, 2021
Right of use lease asset	$ 696,698	$ 696,698	$ 40,363
Payment for rent per month		2,000
Rent expense		401,000	192,000
Office Space [Member]
Right of use lease asset				$ 343,633
Operating Lease, Liability				$ 343,633
Lease term				63 months
Borrowing rate				4.25%
Monthly Base Rent	6,121
Lab Space [Member]
Right of use lease asset	$ 400,797	400,797
Operating Lease, Liability	$ 400,797	$ 400,797
Borrowing rate	4.25%	4.25%
Monthly Base Rent	7,456
New Office And Lab Space [Member]
Line of credit			46,726
Manufacturing Space [Member]
Line of credit			$ 40,780
Mobile Clean Room [Member]
Payments for rent		$ 189,000