Quarterly report pursuant to Section 13 or 15(d)

Organization and Summary of Significant Accounting Policies (Tables)

v3.20.2
Organization and Summary of Significant Accounting Policies (Tables)
3 Months Ended
Jun. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Schedule of Cash, Cash Equivalents and Restricted Cash

The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported on the Company’s condensed consolidated statements of cash flows for the three months ended June 30, 2020 and 2019:

 

    June 30, 2020     June 30, 2019  
Cash and cash equivalents   $ 2,306,422     $ 71,183  
Restricted cash     75,696        
Total cash, cash equivalents, and restricted cash shown in the statement of cash flows   $ 2,382,118     $ 71,183  

Schedule of Accounts Receivable

Accounts receivable is comprised of the following at:

 

    June 30, 2020     March 31, 2020  
Accounts Receivable   $ 335,993     $ 443,663  
Less Allowance     (53,823 )     (26,541 )
    $ 282,170     $ 417,122  

Schedule of Useful Lives of Property and Equipment

Depreciation is provided for on a straight-line basis over the estimated useful lives of the related assets as follows:

 

Machinery and equipment 5 years
Computer equipment 3 years
Molds and tooling 5 years
Office furniture and equipment 5 years