Document and Entity Information
Document and Entity Information - shares | 9 Months Ended | |
Dec. 31, 2018 | Feb. 14, 2019 | |
Document And Entity Information | ||
Entity Registrant Name | ENXNET INC | |
Entity Central Index Key | 1,083,706 | |
Document Type | 10-Q | |
Trading Symbol | EXNT | |
Document Period End Date | Dec. 31, 2018 | |
Amendment Flag | false | |
Current Fiscal Year End Date | --03-31 | |
Entity a Well-known Seasoned Issuer | No | |
Entity a Voluntary Filer | No | |
Entity's Reporting Status Current | Yes | |
Entity Filer Category | Smaller Reporting Company | |
Entity Common Stock, Shares Outstanding | 58,776,518 | |
Document Fiscal Period Focus | Q3 | |
Document Fiscal Year Focus | 2,018 |
CONSOLIDATED BALANCE SHEETS (Un
CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) | Dec. 31, 2018 | Mar. 31, 2017 |
CURRENT ASSETS | ||
Cash | $ 9,103 | $ 21,744 |
Restricted cash | 2,413 | 19,620 |
Prepaid expenses | 1,118 | |
TOTAL CURRENT ASSETS | 11,516 | 42,482 |
OTHER ASSETS | ||
Oil and gas cash bond | 100,000 | 100,000 |
TOTAL OTHER ASSETS | 100,000 | 100,000 |
TOTAL ASSETS | 111,516 | 142,842 |
CURRENT LIABILITIES | ||
Accounts payable and accrued expenses | 704,742 | 674,297 |
Advances from officer - related party | 10,500 | 25,500 |
Advances from stockholder | 31,000 | 31,000 |
Note payable - stockholder | 100,000 | |
Convertible notes payable | 400,000 | 300,000 |
Convertible notes payable - related parties | 935,101 | 920,101 |
TOTAL CURRENT LIABILITIES | 2,081,343 | 2,050,898 |
LONG-TERM LIABILITIES | ||
Convertible note payable | 100,000 | |
TOTAL LONG-TERM LIABILITIES | 100,000 | |
TOTAL LIABILITIES | 2,081,343 | 2,150,898 |
STOCKHOLDERS' DEFICIT | ||
Common stock, $0.00005 par value; 200,000,000 shares authorized, 58,776,518 and 55,276,518 shares issued and outstanding, respectively | 2,939 | 2,764 |
Additional paid-in capital | 5,858,651 | 5,689,654 |
Accumulated deficit | (7,731,417) | (7,600,834) |
Other comprehensive income | (100,000) | (100,000) |
TOTAL STOCKHOLDERS' DEFICIT | (1,969,827) | (2,008,416) |
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT | $ 111,516 | $ 142,842 |
CONSOLIDATED BALANCE SHEETS (_2
CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) - $ / shares | Dec. 31, 2018 | Mar. 31, 2017 |
Statement of Financial Position [Abstract] | ||
Common stock, par value (in dollars per share) | $ 0.00005 | $ 0.00005 |
Common stock, authorized | 200,000,000 | 200,000,000 |
Common stock, issued | 58,776,518 | 55,276,518 |
Common stock, outstanding | 58,776,518 | 55,276,518 |
CONSOLIDATED STATEMENTS OF OPER
CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) | 3 Months Ended | 6 Months Ended | 9 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Dec. 31, 2018 | |
EXPENSES | ||||
Oil and gas exploration | $ 600 | |||
Impairment of oil and gas properties, unproven | 10,900 | 43,394 | ||
Consulting | 12,196 | 1,672 | ||
Payroll | 1,500 | 1,500 | 21,998 | 4,500 |
Professional services | 5,922 | 4,579 | 23,775 | 26,856 |
Occupancy and office | 1,530 | 1,899 | 4,988 | 4,996 |
Travel | 394 | 507 | 893 | 914 |
Total Expenses | 20,246 | 8,761 | 65,971 | 82,332 |
LOSS FROM OPERATIONS | (20,246) | (8,761) | (65,971) | (82,332) |
OTHER EXPENSE | ||||
Loss on conversion of notes payable | (17,500) | |||
Interest expense | (9,934) | (12,756) | (41,181) | (30,751) |
Total Other Expenses | (9,934) | (12,756) | (41,181) | (48,251) |
NET LOSS | $ (30,180) | $ (21,517) | $ (107,152) | $ (130,583) |
BASIC AND DILUTED NET LOSS PER SHARE (in dollars per share) | $ 0 | $ 0 | $ 0 | $ 0 |
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING, BASIC AND DILUTED (in shares) | 58,530,364 | 55,209,127 | 54,848,154 | 56,972,868 |
CONSOLIDATED STATEMENTS OF CASH
CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) | 6 Months Ended | 9 Months Ended |
Sep. 30, 2017 | Dec. 31, 2018 | |
CASH FLOWS FROM OPERATING ACTIVITIES | ||
Net loss | $ (107,152) | $ (130,583) |
Adjustments to reconcile net loss to net cash used by operations: | ||
Common stock issued for additional interest | 10,300 | |
Common stock issued for compensation | 7,650 | |
Stock options extended | 22,044 | 1,672 |
Impairment of oil and gas properties, unproved | 43,394 | |
Loss on conversion of notes payable | 17,500 | |
Prepaid expenses | 1,118 | |
Accounts payable and accrued expenses | 28,241 | 30,445 |
Net cash used in operating activities | (38,917) | (36,454) |
CASH FLOWS FROM INVESTING ACTIVITIES | ||
Additions to oil and gas properties, unproved | (43,821) | (43,394) |
Purchase of cash bond | (100,000) | |
Net cash used in investing activities | (143,821) | (43,394) |
CASH FLOWS FROM FINANCING ACTIVITIES | ||
Proceeds from advances from officer- related party | 500 | |
Payment of advances from officer- related party | (500) | |
Proceeds from convertible note payable stockholder | 50,000 | |
Proceeds from convertible notes payable – related parties | 24,000 | |
Proceeds from note payable-stockholder | 100,000 | |
Proceeds from sales of stock | 50,000 | |
Net cash provided by financing activities | 174,000 | 50,000 |
NET CHANGE IN CASH AND RESTRICTED CASH | (8,738) | (29,848) |
CASH AND RESTRICTED CASH - Beginning of period | 60,400 | 41,364 |
CASH AND RESTRICTED CASH - End of period | 51,662 | 11,516 |
SUPPLEMENTAL CASH FLOW DISCLOSURES: | ||
Cash paid for interest | 2,750 | |
Cash paid for taxes | ||
NON-CASH FINANCING AND INVESTING TRANSACTIONS | ||
Conversion of advances from officer-related party to convertible notes payable-related party | 6,000 | 15,000 |
Conversion of notes payable stockholder with stock issuance | $ 100,000 |
BASIS OF PRESENTATION
BASIS OF PRESENTATION | 9 Months Ended |
Dec. 31, 2018 | |
Accounting Policies [Abstract] | |
BASIS OF PRESENTATION | NOTE 1 - BASIS OF PRESENTATION The accompanying unaudited consolidated financial statements of EnXnet, Inc. (“EnXnet” or “the Company”) for the Nine months ended December 31, 2018 have been prepared in accordance with generally accepted accounting principles in the United States of America, pursuant to the rules and regulations of the U.S. Securities and Exchange Commission for interim financial information. Accordingly, the financial statements do not include all information and footnotes required by generally accepted accounting principles in the United States for complete annual financial statements. In the opinion of management, the accompanying unaudited interim consolidated financial statements reflect all adjustments, consisting of normal recurring adjustments, considered necessary for a fair presentation. The results of operations for the interim periods are not necessarily indicative of the results to be expected for the full year. Reclassification Certain amounts in the 2017 financial statements have been reclassified to conform to the 2018 financial presentation. These reclassifications have no impact on net loss. Cash and Restricted Cash Cash and restricted cash consist of the following: December 31, 2018 March 31, 2018 Cash $ 9,103 $ 21,744 Restricted cash 2,413 19,620 Total cash and restricted cash $ 11,516 $ 41,364 Recent Accounting Pronouncements In November 2016, the FASB issued ASU No. 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash (a consensus of the FASB Emerging Issues Task Force). ASU 2016-18 requires that a statement of cash flows explain the change during the period in the total of cash, cash equivalents, and amounts generally described as restricted cash or restricted cash equivalents. Therefore, amounts generally described as restricted cash and restricted cash equivalents should be included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the statement of cash flows. ASU 2016-18 is effective for all interim and annual reporting periods beginning after December 15, 2017. The attached financial statements include the adoption of ASU 2016-18 which was adopted by the Company on April 1, 2018. The adoption did not have a material impact on the Company’s Consolidated Financial Statements “, other than certain reclassifications have been made in the Company’s consolidated statements of cash flows to conform with the current period presentation. The Company does not expect the adoption of other recently issued accounting pronouncements to have a significant impact on the Company's results of operation, financial position or cash flows. |
GOING CONCERN
GOING CONCERN | 9 Months Ended |
Dec. 31, 2018 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
GOING CONCERN | NOTE 2 – GOING CONCERN The Company has a working capital deficit and has incurred losses since inception. These factors raise substantial doubt about the Company’s ability to continue as a going concern. The financial statements do not include any adjustments that may be necessary if the Company is unable to continue as a going concern. Management of the Company has undertaken certain actions to address these conditions. Funds required to carry out management’s plans are expected to be derived from future stock sales and borrowings from outside parties. There can be no assurances that the Company will be successful in executing its plans. |
NOTES PAYABLE
NOTES PAYABLE | 9 Months Ended |
Dec. 31, 2018 | |
Payables and Accruals [Abstract] | |
NOTES PAYABLE | NOTE 3 – NOTES PAYABLE Note payable-stockholder consists of the following: December 31, 2018 March 31, 2018 5.75% note payable to a stockholder, due May 31, 2018. $ — $ 100,000 Convertible notes payable-related party consists of the following: December 31, 2018 March 31, 2018 2% convertible notes payable to Ryan Corley, President of the Company, due on demand, convertible into a maximum of 38,238,984 common shares 764,455 749,455 2% convertible note payable to an entity controlled by Ryan Corley, President of the Company, due on demand, convertible into a maximum of 978,000 common shares 48,900 48,900 3% convertible notes payable to an entity controlled by Ryan Corley, President of the Company, due on demand, convertible into a maximum of 1,619,500 common shares 111,350 111,350 2% convertible notes payable to Douglas Goodsell, a related party, due on demand, convertible into a maximum of 519,828 common shares 10,396 10,396 Total notes payable-related party $ 935,101 $ 920,101 Convertible notes payable consists of the following: December 31, 2018 March 31, 2018 7% convertible note payable to stockholder, due on August 15, 2019, convertible into a maximum of 250,000 common shares, 50,000 - 7% convertible note payable to stockholder, due on September 10, 2019, convertible into a maximum of 250,000 common shares, 50,000 - 7% convertible notes payable to stockholder, which is past due, convertible into a maximum of 250,000 common shares, 50,000 50,000 7% convertible notes payable to stockholder, which is past due, convertible into a maximum of 250,000 common shares, 50,000 50,000 4% convertible notes payable to a stockholder, due on demand, convertible into a maximum of 350,000 common shares 175,000 175,000 2% convertible notes payable to stockholders, due on demand, convertible into a maximum of 1,100,000 common shares 25,000 25,000 Total notes payable $ 400,000 $ 300,000 Long Term Convertible notes payable consists of the following: December 31, 2018 March 31, 2018 7% convertible note payable to stockholder, due on August 15, 2019, convertible into a maximum of 250,000 common shares, - 50,000 7% convertible note payable to stockholder, due on September 10, 2019, convertible into a maximum of 250,000 common shares, - 50,000 Total notes payable $ - $ 100,000 On April 1, 2018, the Company converted $15,000 of the advances from an officer into a convertible note payable. The note bears interest of 2% and is convertible with the accrued interest into common shares of the Company at a rate of $0.025 per share. In April 2018, our CEO and President acquired a $50,000 interest in a note payable-stockholder that was due May 17, 2018, On August 13, 2018 the Company paid this note with the issuance of 1,250,000 shares of stock. In addition, on August 13, 2018, the Company issued another 1,250,000 shares of stock to pay a note payable-stockholder in the amount of $50,000. A total of 2,500,000 shares of stock were issued to pay notes payable aggregating $100,000. The fair market value of the 2,500,000 shares issued was $117,500. The Company recognized a loss on conversion of the notes payable in the amount of $17,500. |
RELATED PARTY TRANSACTIONS
RELATED PARTY TRANSACTIONS | 9 Months Ended |
Dec. 31, 2018 | |
Related Party Transactions [Abstract] | |
RELATED PARTY TRANSACTIONS | NOTE 4 – RELATED PARTY TRANSACTIONS Advances from Stockholder: Advances from a stockholder at December 31, 2018 and March 31, 2018 was $31,000. Advances from Officer: Our CEO, Ryan Corley, has made advances to the Company in prior years. During the nine months ended December 31, 2018 and the year ended March 31, 2018, respectively, the CEO made additional unsecured advances totaling $-0- and $15,500. During the nine months ended December 31, 2018 and the year ended March 31, 2018, the Company made payments on these advances of $-0- and $500, respectively. At December 31, 2018 and March 31, 2018, respectively, advances from the CEO were $-0- and $15,000, respectively. Accrued Interest - officer The Company has notes payable to the CEO in the aggregate amount of $764,455 and $749,455 as of December 31, 2018 and March 31, 2018, respectively. Accrued interest owed on these notes at December 31, 2018 and March 31, 2018 is $216,329 and $204,861, respectively. These notes and accrued interest are convertible into 42,579,360 and 41,411,316 shares of restricted common stock of the Company, as of December 31, 2018 and March 31, 2018 respectively. Advances from officer - related part At December 31, 2018 and March 31, 2018, advances from the entity controlled by the CEO was $10,500 and notes payable totaled $160,250. Accrued interest owed on these notes at December 31, 2018 and March 31, 2018 is $37,242 and $35,188, respectively. These notes and accrued interest are convertible into 3,195,213 and 3,155,917 shares of restricted common stock of the Company, as of December 31, 2018 and March 31, 2018, respectively. Oil and Gas Leases During the nine months ended December 31, 2018, the Company paid $100 in transfer fees to acquire a lease on an additional 640 acres in the Rocky Mountain range located in the state of Colorado for a 4-year term. The lease was acquired from our President and CEO. Each year, the Company is responsible for making additional lease payments of $2.50 per acre to keep the lease The Company conducts its business from the office of its CEO, Ryan Corley, rent free. |
STOCK OPTIONS
STOCK OPTIONS | 9 Months Ended |
Dec. 31, 2018 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
STOCK OPTIONS | NOTE 5 – STOCK OPTIONS On July 24, 2001, the Company filed with the SEC Form S-8, for its 2002 Stock Option Plan, (the Plan). An aggregate amount of common stock that may be awarded and purchased under the Plan is 3,000,000 shares of the Company’s common stock. On July 10, 2018, the Company extended and repriced options that were expiring. A total of 150,000 options were expiring, of which 100,000 options were extended for 1 year at an exercise price of $0.25 per option. The Company used the Black-Scholes option pricing method to determine if there were additional compensation expenses to recognize. The extension and repricing resulted in the recognition of $1,672 in compensation expense. A summary of the status of the Company’s stock options as of December 31, 2018 is presented below: December 31, 2018 Options outstanding at beginning of year 1,290,000 Options granted — Options exercised — Options expired (50,000 ) Options outstanding at end of year 1,240,000 The following table summarizes the information about the stock options as of December 31, 2018: Weighted Average of Exercise Price Number Outstanding Weighted Average Remaining Contractual Life Years Number Exercisable 0.08 900,000 3.55 900,000 0.10 240,000 3.55 240,000 0.25 100,000 0.55 100,000 $ 0.08 - 0.25 1,240,000 3.31 1,240,000 |
COMMON STOCK TRANSACTIONS
COMMON STOCK TRANSACTIONS | 9 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
COMMON STOCK TRANSACTIONS | NOTE 6 – COMMON STOCK TRANSACTIONS On November 9, 2018, the Company issued 400,000 common shares to a stockholder in exchange for $20,000 in cash. On July 16, 2018, the Company issued 600,000 common shares in exchange for $30,000 in cash. On August 13, 2018, the Company issued 2,500,000 common shares to retire two note payable in the aggregate amount of $100,000. These notes were in default. Prior to retiring the note, our CEO acquired a one-half interest in the note. Of these shares, 1,250,000 were issued to the CEO as payment of the note. The fair market value of the 2,500,000 shares issued was $117,500. The Company recognized a loss on conversion of the notes payable in the amount of $17,500. |
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS | 9 Months Ended |
Dec. 31, 2018 | |
Subsequent Events [Abstract] | |
SUBSEQUENT EVENTS | NOTE 7 – SUBSEQUENT EVENTS On February 8, 2019, the Company received $21,000 in cash for 525,000 common shares to be issued to a stockholder. |
BASIS OF PRESENTATION (Policies
BASIS OF PRESENTATION (Policies) | 9 Months Ended |
Dec. 31, 2018 | |
Basis Of Presentation | |
Basis of presentation | The accompanying unaudited consolidated financial statements of EnXnet, Inc. (“EnXnet” or “the Company”) for the Nine months ended December 31, 2018 have been prepared in accordance with generally accepted accounting principles in the United States of America, pursuant to the rules and regulations of the U.S. Securities and Exchange Commission for interim financial information. Accordingly, the financial statements do not include all information and footnotes required by generally accepted accounting principles in the United States for complete annual financial statements. In the opinion of management, the accompanying unaudited interim consolidated financial statements reflect all adjustments, consisting of normal recurring adjustments, considered necessary for a fair presentation. The results of operations for the interim periods are not necessarily indicative of the results to be expected for the full year. |
Reclassification | Reclassification Certain amounts in the 2017 financial statements have been reclassified to conform to the 2018 financial presentation. These reclassifications have no impact on net loss. |
Cash, Cash Equivalents and Restricted Cash | Cash and Restricted Cash Cash and restricted cash consist of the following: December 31, 2018 March 31, 2018 Cash $ 9,103 $ 21,744 Restricted cash 2,413 19,620 Total cash and restricted cash $ 11,516 $ 41,364 |
Recent Accounting Pronouncements | Recent Accounting Pronouncements In November 2016, the FASB issued ASU No. 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash (a consensus of the FASB Emerging Issues Task Force). ASU 2016-18 requires that a statement of cash flows explain the change during the period in the total of cash, cash equivalents, and amounts generally described as restricted cash or restricted cash equivalents. Therefore, amounts generally described as restricted cash and restricted cash equivalents should be included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the statement of cash flows. ASU 2016-18 is effective for all interim and annual reporting periods beginning after December 15, 2017. The attached financial statements include the adoption of ASU 2016-18 which was adopted by the Company on April 1, 2018. The adoption did not have a material impact on the Company’s Consolidated Financial Statements “, other than certain reclassifications have been made in the Company’s consolidated statements of cash flows to conform with the current period presentation. The Company does not expect the adoption of other recently issued accounting pronouncements to have a significant impact on the Company's results of operation, financial position or cash flows. |
BASIS OF PRESENTATION (Tables)
BASIS OF PRESENTATION (Tables) | 9 Months Ended |
Dec. 31, 2018 | |
Basis Of Presentation Tables Abstract | |
Schedule of cash and cash equivalents and restricted cash | Cash and restricted cash consist of the following: December 31, 2018 March 31, 2018 Cash $ 9,103 $ 21,744 Restricted cash 2,413 19,620 Total cash and restricted cash $ 11,516 $ 41,364 |
NOTES PAYABLE (Tables)
NOTES PAYABLE (Tables) | 9 Months Ended |
Dec. 31, 2018 | |
Payables and Accruals [Abstract] | |
Convertible notes payable-related party | December 31, 2018 March 31, 2018 5.75% note payable to a stockholder, due May 31, 2018. $ — $ 100,000 |
Convertible Notes Payable | Convertible notes payable-related party consists of the following: December 31, 2018 March 31, 2018 2% convertible notes payable to Ryan Corley, President of the Company, due on demand, convertible into a maximum of 38,238,984 common shares 764,455 749,455 2% convertible note payable to an entity controlled by Ryan Corley, President of the Company, due on demand, convertible into a maximum of 978,000 common shares 48,900 48,900 3% convertible notes payable to an entity controlled by Ryan Corley, President of the Company, due on demand, convertible into a maximum of 1,619,500 common shares 111,350 111,350 2% convertible notes payable to Douglas Goodsell, a related party, due on demand, convertible into a maximum of 519,828 common shares 10,396 10,396 Total notes payable-related party $ 935,101 $ 920,101 Convertible notes payable consists of the following: December 31, 2018 March 31, 2018 7% convertible note payable to stockholder, due on August 15, 2019, convertible into a maximum of 250,000 common shares, 50,000 - 7% convertible note payable to stockholder, due on September 10, 2019, convertible into a maximum of 250,000 common shares, 50,000 - 7% convertible notes payable to stockholder, which is past due, convertible into a maximum of 250,000 common shares, 50,000 50,000 7% convertible notes payable to stockholder, which is past due, convertible into a maximum of 250,000 common shares, 50,000 50,000 4% convertible notes payable to a stockholder, due on demand, convertible into a maximum of 350,000 common shares 175,000 175,000 2% convertible notes payable to stockholders, due on demand, convertible into a maximum of 1,100,000 common shares 25,000 25,000 Total notes payable $ 400,000 $ 300,000 |
Long term convertible notes payable | Long Term Convertible notes payable consists of the following: December 31, 2018 March 31, 2018 7% convertible note payable to stockholder, due on August 15, 2019, convertible into a maximum of 250,000 common shares, - 50,000 7% convertible note payable to stockholder, due on September 10, 2019, convertible into a maximum of 250,000 common shares, - 50,000 Total notes payable $ - $ 100,000 |
STOCK OPTIONS (Tables)
STOCK OPTIONS (Tables) | 9 Months Ended |
Dec. 31, 2018 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Schedule of stock options | December 31, 2018 Options outstanding at beginning of year 1,290,000 Options granted — Options exercised — Options expired (50,000 ) Options outstanding at end of year 1,240,000 |
Schedule of stock options details | Weighted Average of Exercise Price Number Outstanding Weighted Average Remaining Contractual Life Years Number Exercisable 0.08 900,000 3.55 900,000 0.10 240,000 3.55 240,000 0.25 100,000 0.55 100,000 $ 0.08 - 0.25 1,240,000 3.31 1,240,000 |
BASIS OF PRESENTATION (Details)
BASIS OF PRESENTATION (Details) - USD ($) | Dec. 31, 2018 | Mar. 31, 2018 | Sep. 30, 2017 | Mar. 31, 2017 |
Basis Of Presentation Details Abstract | ||||
Cash | $ 9,103 | $ 21,744 | $ 21,744 | |
Restricted cash | 2,413 | 19,620 | ||
Total cash and restricted cash | $ 11,516 | $ 41,364 | $ 51,662 | $ 60,400 |
NOTES PAYABLE - Convertible not
NOTES PAYABLE - Convertible notes payable - related party (Details) - USD ($) | 9 Months Ended | 12 Months Ended |
Dec. 31, 2018 | Mar. 31, 2018 | |
Total notes payable-related party | $ 935,101 | $ 920,101 |
2% Convertible notes payable to Ryan Corley, President of the Company, due on demand, convertilbe into a maximum of 38,238,984 common shares | ||
Total notes payable-related party | 764,455 | 749,455 |
2% convertible note payable to an entity controlled by Ryan Corley, President of the Company, due on demand, convertible into a maximum of 978,000 common shares | ||
Total notes payable-related party | 48,900 | 48,900 |
3% convertible notes payable to an entity controlled by Ryan Corley, President of the Company, due on demand, convertible into a maximum of 1,619,500 common shares | ||
Total notes payable-related party | 111,350 | 111,350 |
2% convertible notes payable to Douglas Goodsell, a related party, due on demand, convertible into a maximum of 519,850 common shares | ||
Total notes payable-related party | $ 10,396 | $ 10,396 |
NOTES PAYABLE - Convertible N_2
NOTES PAYABLE - Convertible Notes Payable (Details) - USD ($) | Dec. 31, 2018 | Mar. 31, 2018 | Mar. 31, 2017 |
Total notes payable | $ 400,000 | $ 300,000 | |
Convertible Note 1 | |||
Total notes payable | 50,000 | ||
Convertible Note 2 | |||
Total notes payable | 50,000 | ||
Convertible Note 3 | |||
Total notes payable | 50,000 | 50,000 | |
Convertible Note 4 | |||
Total notes payable | 50,000 | 50,000 | |
Convertible Note 5 | |||
Total notes payable | 175,000 | 175,000 | |
Convertible Note 6 | |||
Total notes payable | 25,000 | 25,000 | |
Total | |||
Total notes payable | $ 400,000 | $ 300,000 |
NOTES PAYABLE - Long Term Conve
NOTES PAYABLE - Long Term Convertible Notes Payable (Details) - USD ($) | Dec. 31, 2018 | Mar. 31, 2018 |
Longterm Convertible Note Payable 1 | ||
Long Term Debt Payable | $ 50,000 | |
Longterm Convertible Note Payable 2 | ||
Long Term Debt Payable | 50,000 | |
Longterm Convertible Note Payable Total | ||
Long Term Debt Payable | $ 100,000 |
STOCK OPTIONS (Details)
STOCK OPTIONS (Details) | 9 Months Ended |
Dec. 31, 2018USD ($)shares | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward] | |
Options outstanding at beginning of year | 1,290,000 |
Options granted | |
Options exercised | $ | |
Options expired | $ | $ (50,000) |
Options outstanding at end of year | 1,240,000 |
STOCK OPTIONS (Details 1)
STOCK OPTIONS (Details 1) | 9 Months Ended |
Dec. 31, 2018$ / sharesshares | |
Option 1 | |
Range of Exercise Price, max | $ / shares | $ 0.08 |
Number Outstanding | 900,000 |
Weighted Average Remaining Contractual Life Years | 3 years 6 months 18 days |
Number Exercisable | 900,000 |
Option 2 | |
Range of Exercise Price, max | $ / shares | $ 0.10 |
Number Outstanding | 240,000 |
Weighted Average Remaining Contractual Life Years | 3 years 6 months 18 days |
Number Exercisable | 240,000 |
Option 3 | |
Range of Exercise Price, max | $ / shares | $ 0.25 |
Number Outstanding | 100,000 |
Weighted Average Remaining Contractual Life Years | 6 months 18 days |
Number Exercisable | 100,000 |
Total | |
Range of Exercise Price, min | $ / shares | $ 0.08 |
Range of Exercise Price, max | $ / shares | $ 0.25 |
Number Outstanding | 1,240,000 |
Weighted Average Remaining Contractual Life Years | 3 years 3 months 22 days |
Number Exercisable | 1,240,000 |