v3.26.1
LIQUIDITY AND GOING CONCERN
3 Months Ended
Jun. 30, 2026
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
LIQUIDITY AND GOING CONCERN

NOTE 2 – LIQUIDITY AND GOING CONCERN

 

As shown in the accompanying consolidated financial statements, the Company has incurred recurring losses and negative cash flows from operations and expects to continue to incur losses as it advances the development of its programs. As of June 30, 2026 and March 31, 2026, the Company had working capital deficit of $362,743 and working capital of $511,107, respectively. As of June 30, 2026, the Company had an accumulated deficit of $4,993,245.

 

Management believes the Company has multiple potential avenues to raise additional capital, including the equity markets, and that its current cash position, together with its continued ability to manage the timing and level of operating expenditures, supports near-term operations while it pursues those alternatives.

 

The Company is actively exploring strategic and financing alternatives, including possible corporate transactions involving a partnership for its lead program, royalty-based financing arrangements, and other business development opportunities. The Company has also received an unsolicited inquiry regarding a potential partnership from an established company with expertise in neurobiology and is broadening its outreach to additional potential partnership candidates.

 

While there can be no assurance that these efforts will result in additional capital or strategic transactions on acceptable terms, or at all, management believes that these initiatives represent potential avenues to strengthen the Company’s liquidity position. Based on its cash resources as of June 30, 2026, the Company does not have sufficient resources to fund its operations past twelve months from the date these consolidated financial statements are available to be issued. The Company expects that additional capital may be required during the next 12 months to continue executing its business plan and to meet its obligations as they become due. Accordingly, these conditions raise substantial doubt about the Company’s ability to continue as a going concern within one year after the date these financial statements are issued.

 

These financial statements do not include any adjustments to the recoverability and classification of recorded asset amounts or the classification of liabilities that might be necessary should the Company be unable to continue as a going concern.