$WTER

ALKALINE WATER Co INC

CIK:0001532390|SEC Filings

CONSOLIDATED STATEMENT OF OPERATIONS (unaudited) - USD ($)	3 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Statement of Operations [Abstract]
Net Revenue	$ 14,933,785	$ 16,318,786
Cost of Goods Sold	11,162,216	13,399,774
Gross Profit	3,771,569	2,919,012
Operating expenses
Sales and marketing expenses	4,614,499	6,346,229
General and administrative	1,574,240	2,863,993
Total operating expenses	6,188,739	9,210,222
Total operating loss	(2,417,170)	(6,291,210)
Other (income) expense
Interest expense	(423,768)	(1,202,198)
Total other (income) expense	(423,768)	(1,202,198)
Net loss	$ (2,840,938)	$ (7,493,408)
LOSS PER SHARE (Basic)	$ (0.28)	$ (0.96)
LOSS PER SHARE (Diluted)	$ (0.28)	$ (0.96)
WEIGHTED AVERAGE SHARES OUTSTANDING (Basic)	10,293,276	7,844,653
WEIGHTED AVERAGE SHARES OUTSTANDING (Diluted)	10,293,276	7,844,653

CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($)	3 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss	$ (2,840,938)	$ (7,493,408)
Adjustments to reconcile net loss to net cash used in operating activities
Depreciation expense	253,515	187,432
Shares issued and vested, options and RSU expensed for employee and non-employee services	93,269	2,449,047
Amortization of debt discount	0	935,102
Non-cash interest expense	0	49,710
Non-cash lease expense	(4,822)	(275)
Changes in operating assets and liabilities:
Accounts receivable	1,460,615	(495,350)
Inventory	46,961	(2,094,675)
Prepaid expenses and other current assets	394,086	(1,434,887)
Accounts payable	992,940	1,492,615
Accrued expenses	420,035	3,910,039
Note payable, short-term	(1,224,652)	0
NET CASH USED IN OPERATING ACTIVITIES	(408,991)	(2,494,650)
CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of fixed assets	0	(854,997)
CASH USED IN INVESTING ACTIVITIES	0	(854,997)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from (repayment of) revolving financing, net	(215,115)	(504,083)
Proceeds from sale of common stock, net	0	5,268,592
CASH PROVIDED BY FINANCING ACTIVITIES	(215,115)	4,764,509
NET CHANGE IN CASH	(624,106)	1,414,862
CASH AT BEGINNING OF PERIOD	1,038,754	1,531,062
CASH AT END OF PERIOD	414,648	2,945,924
INTEREST PAID	423,768	215,164
TAXES PAID	$ 0	$ 0

CONSOLIDATED BALANCE SHEETS (unaudited) - USD ($)	Jun. 30, 2023	Mar. 31, 2023
Current assets
Cash	$ 414,648	$ 1,038,754
Accounts receivable, net	5,059,617	6,520,232
Inventory	5,544,390	5,591,351
Prepaid expenses	2,285,188	2,679,274
Operating lease right-of-use asset - current portion	80,289	122,114
Total current assets	13,384,132	15,951,725
Fixed assets - net	1,804,617	2,058,132
Operating lease right-of-use asset	15,184	20,246
Total assets	15,203,933	18,030,103
Current liabilities
Accounts payable	12,609,187	11,616,247
Accrued expenses	2,406,839	1,996,387
Revolving financing	6,188,332	6,403,447
Notes payable, short-term	1,967,661	3,192,313
Operating lease liability - current portion	89,916	136,214
Total current liabilities	23,261,935	23,344,608
Operating lease liability	16,812	22,223
Total liabilities	23,278,747	23,366,831
Commitments and contingencies
Stockholders' equity
Preferred stock, $0.001 par value, 100,000,000 shares authorized, 100,000 Series E issued and outstanding on June 30, 2023 and 600,000 Series E issued and outstanding on March 31, 2023 and nil Series S issued and outstanding on June 30, 2023 and 2,227,030 Seires S issued and outstanding on March 31, 2023	100	2,827
Common stock, Class A - $0.001 par value, 13,333,333 shares authorized 10,395,805 and 10,005,379 shares issued and outstanding at June 30, 2023 and March 31, 2023, respectively	10,395	10,005
Discount on Preferred Stock	(8,010)	(76,898)
Additional paid in capital	131,912,605	131,805,916
Accumulated deficit	(139,989,904)	(137,078,578)
Total stockholders' equity	(8,074,814)	(5,336,728)
Total liabilities and stockholders' equity	$ 15,203,933	$ 18,030,103