CAPITAL STOCK

12 Months Ended

Mar. 31, 2023

Equity [Abstract]

CAPITAL STOCK

NOTE 12 – CAPITAL STOCK

Our authorized capital consists of 200,000,000 shares of common stock with a par value of $0.001 per share.

During the year ended March 31, 2021, we issued 47,895,828 shares of common stock as follows:

● 34,512,143 shares were sold to investors for $138,564,619

● 3,145,481 shares were issued for the conversion of convertible promissory notes for $4,831,206

● 6,521,563 shares were issued to investors for exercised warrants valued for $13,952,336

● 732,974 shares were issued for cashless exercise of 1,300,069 warrants

● 1,000,000 shares were issued pursuant to a debt conversion agreement for $2,100,000

● 943,336 shares were issued for services provided to the Company valued at $1,707,500

● 1,016,331 shares valued at $1,450,359 were issued to employees, members of the Board of Directors, and members of the Advisory Committee as compensation

● 24,000 shares were issued to investors for $48,000 in liquidation damage fees

● 1,000,000 shares were repurchased from JSC for a total value of $1,500,000 and subsequently cancelled

During the year ended March 31, 2022, we issued 23,385,780 shares of common stock as follows:

● 20,000,000 shares were issued in connection with our merger of Gemini Direct Investments, LLC valued at $142,691,282

● 431,080 shares were issued to investors for exercised warrants valued for $943,907

● 374,584 shares were issued for cashless exercise of 443,110 warrants

● 772,450 shares valued at $1,631,701 were issued for services and equipment provided to the Company

● 1,807,666 shares valued at $5,759,000 were issued to employees, members of the Board of Directors, and members of the Advisory Committee as compensation

During the year ended March 31, 2023, we issued 2,077,059 shares of common stock as follows:

● 200,003 shares were issued to investors for exercised warrants valued for $101,506

● 99,762 shares were issued for cashless exercise of 100,000 warrants

● 1,777,294 shares valued at $5,807,779 were issued to employees, members of the Board of Directors, and members of the Advisory Committee as compensation

At March 31, 2023, 2022, and 2021 outstanding and exercisable stock purchase warrants consisted of the following:

	Number of Shares			Weighted Averaged Exercise Price		Weighted Average Life Remaining (Years)
Outstanding at March 31, 2020		8,504,372		$	2.10		3.60
Granted		2,925,204			2.31		2.47
Exercised		(7,821,631	)		2.08		-
Forfeited or cancelled		-			-		-
Outstanding at March 31, 2021		3,607,945		$	2.31		3.24
Exercisable at March 31, 2021		3,179,730		$	2.27		3.05

	Number of Shares			Weighted Averaged Exercise Price		Weighted Average Life Remaining (Years)
Outstanding at March 31, 2021		3,607,945		$	2.31		3.24
Granted		200,000			0.01		3.92
Exercised		(874,190	)		1.76		-
Forfeited or cancelled		-			-		-
Outstanding at March 31, 2022		2,933,755		$	2.32		2.29
Exercisable at March 31, 2022		2,933,755		$	2.32		2.29

	Number of Shares			Weighted Averaged Exercise Price		Weighted Average Life Remaining (Years)
Outstanding at March 31, 2022		2,933,755		$	2.32		2.29
Granted		150,000			0.01		4.5
Exercised		(300,003	)		0.34		-
Forfeited or cancelled		(322,806	)		2.00		-
Outstanding at March 31, 2023		2,460,946		$	2.46		1.59
Exercisable at March 31, 2023		2,460,946		$	2.46		1.59

As of March 31, 2023, we had 2,460,946 warrants outstanding. Each warrant provides the holder the right to purchase up to one share of our Common Stock at a predetermined exercise price. The outstanding warrants consist of (1) warrants to purchase 911 shares of Common Stock at an exercise price of $1.65 per share until April 2025; (2) warrants to purchase 1,448,758 shares of our Common Stock at an exercise price of $2.00 per share consisting of 16% of the warrants until August 2024, and 84% until February 2026; (3) warrants to purchase 474,966 shares of Common Stock at an exercise price of $2.40 until September 2024; (4) warrants to purchase 386,311 shares of Common Stock at an exercise price of $2.63 until November 2025, and (5) warrants to purchase 150,000 shares of Common Stock at an exercise price of $6.72 until February 2024.