TAURIGA SCIENCES, INC.

CIK:0001142790|SEC Filings

Condensed Consolidated Statements of Operations - USD ($)	3 Months Ended		9 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2021	Dec. 31, 2020
Income Statement [Abstract]
Gross revenue	$ 116,409	$ 95,049	$ 284,476	$ 266,713
Sales Discounts	(12,543)	(18,831)	(37,505)	(49,238)
Sales returns	(1,286)	(1,269)	(3,678)	(2,362)
Net Revenue	102,580	74,949	243,293	215,113
Cost of goods sold	46,499	34,348	124,999	133,391
Gross profit	56,081	40,601	118,294	81,722
Operating expenses
Marketing and advertising	134,713	105,899	541,449	180,801
Research and development	8,781	7,173	116,844	34,478
Fulfilment services	23,988	25,200	84,505	64,200
General and administrative	1,226,496	436,097	2,887,114	1,328,786
Depreciation and amortization expense	1,326	218	3,897	653
Total operating expenses	1,395,304	574,587	3,633,809	1,608,918
Loss from operations	(1,339,223)	(533,986)	(3,515,515)	(1,527,196)
Other income (expense)
Interest expense	(67,129)	(289,503)	(921,922)	(901,913)
Unrealized gain (loss) on trading securities	6,963	939,590	(911,078)	998,700
Gain (Loss) on conversion of debt				(45,770)
Gain on lease termination		836		836
Loss on impairment of investment		(139,106)		(139,106)
Gain (loss) on sale of trading securities	(142,884)		1,233,525
Total other income (expense)	(203,050)	511,817	(599,475)	(87,253)
LOSS FROM CONTINUING OPERATIONS BEFORE PROVISION FOR INCOME TAXES	(1,542,273)	(22,169)	(4,114,990)	(1,614,449)
PROVISION FOR INCOME TAXES
Net loss	(1,542,273)	(22,169)	(4,114,990)	(1,614,449)
Net loss attributable to common shareholders	$ (1,542,273)	$ (22,169)	$ (4,114,990)	$ (1,614,449)
Loss per share - basic and diluted - Continuing operations	$ (0.005)	$ (0.000)	$ (0.014)	$ (0.008)
Weighted average number of shares outstanding - basic and fully diluted	297,002,160	162,575,227	287,468,112	193,622,141

Condensed Consolidated Statements of Cash Flows - USD ($)	3 Months Ended		9 Months Ended		12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2021	Dec. 31, 2020	Mar. 31, 2021
Cash flows from operating activities
Net loss attributable to controlling interest	$ (1,542,273)	$ (22,169)	$ (4,114,990)	$ (1,614,449)
Adjustments to reconcile net loss to cash used in operating activities:
Bad debt expense			5,851	29,404
Amortization of original issue discount			60,791	84,377
Non-cash lease operating lease expense			675	102
Depreciation and amortization	1,326	218	3,897	653
Non-cash interest			339,480	92,119
Amortization of debt discount			392,640	616,121
Gain on lease termination		(836)		(836)
Common stock issued and issuable for services (including stock-based compensation)			1,066,007	348,469
Gain on disposal of discontinued operation				139,106
Legal fees deducted from proceeds of notes payable				6,700
Gain on the sale of trading securities	142,884		(1,233,525)
Unrealized loss (gain) on trading securities	(6,963)	(939,590)	911,078	(998,700)
(Increase) decrease in assets
Prepaid expenses			38,999	(20,637)
Inventory (including inventory not received)			210,270	(102,207)
Investments in trading securities			(1,579,536)
Proceeds from sale of trading securities			2,443,684
Accounts receivable			18,867	(20,841)
Increase (decrease) in liabilities
Accounts payable			(149,627)	1,800
Deferred revenue			2,653	1,926
Accrued expenses			67,324	51,125
Accrued interest			71,780	60,551
Cash used in operating activities			(1,443,682)	(1,325,217)
Cash flows from investing activities
Exercise of unregistered warrants for common stock				(240,000)
Investment - other				(278,212)
Purchase of property and equipment			(1,945)	(4,138)
Cash used in investing activities			(1,945)	(522,350)
Cash flows from financing activities
Repayment of principal on notes payable to individuals and companies			(245,000)	(100,000)
Proceeds from the sale of common stock (including to be issued)			451,100	801,563
Proceeds from notes payable to individuals and companies			1,196,500	220,000
Proceeds from sale of registered shares - Tangiers Investment Agreement				400,515
Proceeds from convertible notes				692,800
Cash provided by financing activities			1,402,600	2,014,878
Net increase (decrease) in cash			(43,027)	167,311
Cash, beginning of year			49,826	5,348	$ 5,348
Cash, end of the period	$ 6,799	$ 172,659	6,799	172,659	$ 49,826
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
Interest Paid			16,721	50,000
Taxes Paid
NON-CASH ITEMS
Conversion of notes payable and accrued interest for common stock				1,322,075
Original issue discount on notes payable and debentures			82,000	63,333
Recognition of debt discount			$ 450,522	$ 208,806

Condensed Consolidated Balance Sheets - USD ($)	Dec. 31, 2021	Mar. 31, 2021
Current assets:
Cash	$ 6,799	$ 49,826
Accounts receivable, net allowance for doubtful accounts	7,509	32,227
Investment - trading securities	792,723	1,334,425
Investment - other	224,106	224,106
Inventory asset	351,657	201,372
Prepaid inventory	62,645	423,200
Prepaid expenses and other current assets	92,412	131,411
Total current assets	1,537,851	2,396,567
Lease right of use asset	52,927	64,301
Assets held for resale	11,084	11,084
Property and equipment, net	11,049	12,063
Leasehold improvements, net of amortization	3,750	4,688
Total assets	1,616,661	2,488,703
Current liabilities:
Notes payable, net of discounts	1,459,228	504,819
Accounts payable	241,320	390,947
Accrued interest	86,502	14,722
Accrued expenses	60,765	68,442
Liability for common stock to be issued	383,100	174,000
Lease liability - current portion	15,409	14,426
Deferred revenue	2,653
Total current liabilities	2,248,977	1,167,356
Lease liability - net of current portion	38,418	50,100
Contingent liability	75,000
Total liabilities	2,362,395	1,217,456
Stockholders’ equity (deficit):
Common stock, par value $0.00001; 400,000,000 shares authorized, 299,908,214 and 275,858,714 outstanding at December 31, 2021 and March 31, 2021, respectively	2,997	2,760
Additional paid-in capital	65,515,337	63,417,565
Accumulated deficit	(66,264,068)	(62,149,078)
Total stockholders’ equity (deficit)	(745,734)	1,271,247
Total liabilities and stockholders’ equity (deficit)	$ 1,616,661	$ 2,488,703