Quarterly report pursuant to Section 13 or 15(d)

Stockholders??? Equity

Stockholders’ Equity
6 Months Ended
Sep. 30, 2021
Equity [Abstract]  
Stockholders’ Equity


Note 8. Stockholders’ Equity


Authorized Capital


The Company is authorized to issue up to 24,000,000 shares of common stock with a par value of $0.0001 per share and 714,286 shares of convertible preferred stock with a par value of $0.0001 per share.


At The Market Issuance of Common Stock


On July 30, 2021, the Company entered into an At The Market Offering Agreement with HC Wainwright & Co., LLC under which the Company may issue and sell shares of its common stock from time to time through HC Wainwright acting as sales agent. The Company will pay HC Wainwright a commission of 3% of the gross proceeds from the sale of any shares of common stock under the Agreement. During the quarter ended September 30, 2021, the Company sold 855,500 shares of common stock for gross proceeds of $7,202,000 and net proceeds of $6,902,000 after deducting commissions and other offering expenses.