Document and Entity Information
Document and Entity Information - shares | 9 Months Ended | |
Dec. 31, 2019 | Feb. 07, 2020 | |
Details | ||
Registrant CIK | 0001355677 | |
Fiscal Year End | --03-31 | |
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Dec. 31, 2019 | |
Document Transition Report | false | |
Entity Registrant Name | MEXUS GOLD US | |
Entity Incorporation, State or Country Code | NV | |
Entity File Number | 000-52413 | |
Entity Tax Identification Number | 20-4092640 | |
Entity Address, Address Line One | 1805 N. Carson Street, #150 | |
Entity Address, City or Town | Carson City | |
Entity Address, State or Province | NV | |
Entity Address, Postal Zip Code | 89701 | |
Entity Address, Address Description | Address of principal executive offices | |
City Area Code | 916 | |
Local Phone Number | 776 2166 | |
Phone Fax Number Description | Issuer’s Telephone Number | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 1,510,446,348 | |
Amendment Flag | false | |
Document Fiscal Year Focus | 2020 | |
Document Fiscal Period Focus | Q3 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (December 31, 2019 Unaudited) - USD ($) | Dec. 31, 2019 | Mar. 31, 2019 | |
CURRENT ASSETS | |||
Cash | $ 51,111 | $ 12,029 | |
Prepaid and other assets | 0 | 5,500 | |
TOTAL CURRENT ASSETS | 51,111 | 17,529 | |
FIXED ASSETS | |||
Property and equipment, net of accumulated depreciation | 309,014 | 383,524 | |
TOTAL FIXED ASSETS | 309,014 | 383,524 | |
OTHER ASSETS | |||
Equipment under construction | 0 | 17,018 | |
Property costs | 829,947 | 829,947 | |
Other Assets, Noncurrent | 829,947 | 846,965 | |
TOTAL ASSETS | 1,190,072 | 1,248,018 | |
CURRENT LIABILITIES | |||
Accounts payable and accrued liabilities | 299,045 | 254,578 | |
Accounts payable - related party | 384,705 | 434,704 | |
Notes payable (net unamortized debt discount of $97,648 and $94,127, respectively) | 803,531 | 626,190 | |
Notes payable - related parties | 102,769 | 67,410 | |
Promissory notes | 65,000 | 65,000 | |
Convertible promissory note (net of debt discount of $607,651 and $136,355, respectively) | 244,533 | 104,034 | |
Derivative Liability, Current | 365,530 | 113,091 | |
Hedging Liabilities, Current | 35,971 | 0 | |
TOTAL CURRENT LIABILITIES | 2,301,084 | 1,665,007 | |
TOTAL LIABILITIES | 2,301,084 | 1,665,007 | |
CONTINGENT LIABILITIES (Note 11) | [1] | ||
STOCKHOLDERS' (DEFICIT) EQUITY | |||
Common Stock, Value, Issued | 1,477,870 | 1,011,845 | |
Additional paid-in capital | 28,517,054 | 27,064,698 | |
Share subscription payable | 370,041 | 632,840 | |
Accumulated deficit | (31,476,977) | (29,127,372) | |
TOTAL STOCKHOLDERS' (DEFICIT) EQUITY | (1,111,012) | (416,989) | |
TOTAL LIABILITIES AND STOCKHOLDERS' (DEFICIT) EQUITY | 1,190,072 | 1,248,018 | |
Series A Convertible | |||
STOCKHOLDERS' (DEFICIT) EQUITY | |||
Preferred Stock, Value, Issued | $ 1,000 | $ 1,000 | |
[1] | Note 11. |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (December 31, 2019 Unaudited) - Parenthetical - $ / shares | Dec. 31, 2019 | Mar. 31, 2019 |
Preferred Stock, Shares Authorized | 9,000,000 | 9,000,000 |
Preferred Stock, Par or Stated Value Per Share | $ 0.001 | $ 0.001 |
Preferred Stock, Shares Issued | 0 | 0 |
Preferred Stock, Shares Outstanding | 0 | 0 |
Common Stock, Shares Authorized | 5,000,000,000 | 5,000,000,000 |
Common Stock, Par or Stated Value Per Share | $ 0.001 | $ 0.001 |
Common Stock, Shares, Issued | 1,477,873,729 | 1,011,848,975 |
Common Stock, Shares, Outstanding | 1,477,873,729 | 1,011,848,975 |
Series A Convertible | ||
Preferred Stock, Shares Authorized | 1,000,000 | 1,000,000 |
Preferred Stock, Par or Stated Value Per Share | $ 0.001 | $ 0.001 |
Preferred Stock, Shares Issued | 1,000,000 | 1,000,000 |
Preferred Stock, Shares Outstanding | 1,000,000 | 1,000,000 |
Condensed Consolidated Statemen
Condensed Consolidated Statement of Operations (Unaudited) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | |
REVENUES | ||||
Revenues | $ 0 | $ 0 | $ 0 | $ 0 |
Total revenues | 0 | 0 | 0 | 0 |
Expenses | ||||
Exploration | 161,715 | 208,755 | 535,979 | 538,410 |
General and administrative | 201,467 | 280,258 | 688,523 | 614,407 |
Stock-based expense - consulting services | 56,975 | 67,600 | 432,390 | 301,556 |
Loss on settlement of accounts payable | 0 | 0 | 16,400 | 0 |
Total operating expenses | 420,157 | 556,613 | 1,673,292 | 1,454,373 |
OTHER INCOME (EXPENSE) | ||||
Foreign exchange | (1,117) | 802 | (2,903) | 4,677 |
Interest | (456,504) | (145,722) | (920,097) | (481,840) |
Gain on sale of equipment | 0 | 0 | 0 | 10,000 |
Gain (loss) Loss on settlement of debt | 9,838 | (2,875) | (60,139) | 157,991 |
Gain on change in fair value and settlement of convertible promissory note derivative liabilities | 71,598 | 223 | 306,826 | 98,594 |
Nonoperating Income (Expense) | (376,185) | (147,572) | (676,313) | (210,578) |
NET LOSS BEFORE PROVISION FOR TAX | (796,342) | (704,185) | (2,349,605) | (1,664,951) |
Income Tax Expense (Benefit) | 0 | 0 | 0 | 0 |
Net Income (Loss) Attributable to Parent | $ (796,342) | $ (704,185) | $ (2,349,605) | $ (1,664,951) |
Earnings Per Share, Basic and Diluted | $ 0 | $ 0 | $ 0 | $ 0 |
Weighted Average Number of Shares Outstanding, Basic and Diluted | 1,448,948,961 | 906,551,279 | 1,285,752,640 | 849,827,525 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Stockholders' (Deficit) Equity (Unaudited) - USD ($) | Preferred Stock | Preferred Class A | Common Stock | Additional Paid-in Capital | Subscription Payable | Retained Earnings | Total |
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Adjusted Balance at Mar. 31, 2018 | $ 0 | $ 1,000 | $ 775,919 | $ 25,743,607 | $ 636,565 | $ (26,853,994) | $ 303,097 |
Shares, Outstanding, Beginning Balance at Mar. 31, 2018 | 0 | 1,000,000 | 775,922,947 | ||||
Stock Issued During Period, Value, Issued for Services | $ 0 | $ 0 | $ 19,206 | 270,260 | 12,090 | 0 | 301,556 |
Stock Issued During Period, Shares, Issued for Services | 0 | 0 | 19,206,166 | ||||
Stock Issued During Period, Value, New Issues | $ 0 | $ 0 | $ 119,309 | 415,971 | (241,180) | 0 | 294,100 |
Stock Issued During Period, Shares, New Issues | 0 | 0 | 119,309,666 | ||||
Shares issued for note principal and interest, value | $ 0 | $ 0 | $ 16,851 | 197,098 | 74,202 | 0 | 288,151 |
Shares issued for note principal and interest, shares | 0 | 0 | 16,850,807 | ||||
Beneficial conversion features | $ 0 | $ 0 | $ 0 | 104,938 | 0 | 0 | 104,938 |
Shares issued for accounts payable, Value | $ 6,070 | 94,218 | 100,288 | ||||
Shares issued for accounts payable, Shares | 6,069,663 | ||||||
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | $ 0 | $ 0 | $ 0 | 0 | 0 | (1,664,951) | (1,664,951) |
Shares, Outstanding, Ending Balance at Dec. 31, 2018 | 0 | 1,000,000 | 937,359,249 | ||||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Adjusted Balance at Dec. 31, 2018 | $ 0 | $ 1,000 | $ 937,355 | 26,826,092 | 481,677 | (28,518,945) | (272,821) |
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Adjusted Balance at Sep. 30, 2018 | $ 0 | $ 1,000 | $ 882,575 | 26,523,188 | 645,185 | (27,814,760) | 237,188 |
Shares, Outstanding, Beginning Balance at Sep. 30, 2018 | 0 | 1,000,000 | 882,579,495 | ||||
Stock Issued During Period, Value, Issued for Services | $ 0 | $ 0 | $ 5,879 | 73,696 | (11,975) | 0 | 67,600 |
Stock Issued During Period, Shares, Issued for Services | 0 | 0 | 5,878,947 | ||||
Stock Issued During Period, Value, New Issues | $ 0 | $ 0 | $ 35,250 | 32,750 | (19,900) | 0 | 48,100 |
Stock Issued During Period, Shares, New Issues | 0 | 0 | 35,250,000 | ||||
Shares issued for note principal and interest, value | $ 0 | $ 0 | $ 13,651 | 156,458 | (131,633) | 0 | 38,476 |
Shares issued for note principal and interest, shares | 0 | 0 | 13,650,807 | ||||
Beneficial conversion features | $ 0 | $ 0 | $ 0 | 40,000 | 0 | 0 | 40,000 |
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | $ 0 | $ 0 | $ 0 | 0 | 0 | (704,185) | (704,185) |
Shares, Outstanding, Ending Balance at Dec. 31, 2018 | 0 | 1,000,000 | 937,359,249 | ||||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Adjusted Balance at Dec. 31, 2018 | $ 0 | $ 1,000 | $ 937,355 | 26,826,092 | 481,677 | (28,518,945) | (272,821) |
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Adjusted Balance at Mar. 31, 2019 | $ 0 | $ 1,000 | $ 1,011,845 | 27,064,698 | 632,840 | (29,127,372) | (416,989) |
Shares, Outstanding, Beginning Balance at Mar. 31, 2019 | 0 | 1,000,000 | 1,011,848,975 | ||||
Stock Issued During Period, Value, Issued for Services | $ 0 | $ 0 | $ 55,374 | 566,141 | (189,125) | 0 | 432,390 |
Stock Issued During Period, Shares, Issued for Services | 0 | 0 | 55,373,555 | ||||
Stock Issued During Period, Value, New Issues | $ 0 | $ 0 | $ 311,134 | 232,611 | (45,850) | 0 | 497,895 |
Stock Issued During Period, Shares, New Issues | 0 | 0 | 311,133,989 | ||||
Shares issued for note principal and interest, value | $ 0 | $ 0 | $ 53,647 | 328,130 | 47,016 | 0 | 428,793 |
Shares issued for note principal and interest, shares | 0 | 0 | 53,647,350 | ||||
Beneficial conversion features | $ 0 | $ 0 | $ 0 | 102,414 | 0 | 0 | 102,414 |
Shares issued for accounts payable, Value | $ 0 | $ 0 | $ 19,000 | 98,400 | (81,000) | 0 | 36,400 |
Shares issued for accounts payable, Shares | 0 | 0 | 19,000,000 | ||||
Shares issued for convertible note principal and interest | $ 0 | $ 0 | $ 26,870 | 124,660 | 0 | 0 | 151,530 |
Shares issued for convertible note principal and interest, shares | 0 | 0 | 26,869,860 | ||||
Stock Issued During Period, Value, Purchase of Assets | $ 0 | $ 0 | $ 0 | 0 | 6,160 | 0 | 6,160 |
Stock Issued During Period, Shares, Purchase of Assets | 0 | 0 | 0 | ||||
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | $ 0 | $ 0 | $ 0 | 0 | 0 | (2,349,605) | (2,349,605) |
Shares, Outstanding, Ending Balance at Dec. 31, 2019 | 0 | 1,000,000 | 1,477,873,729 | ||||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Adjusted Balance at Dec. 31, 2019 | $ 0 | $ 1,000 | $ 1,477,870 | 28,517,054 | 370,041 | (31,476,977) | (1,111,012) |
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Adjusted Balance at Sep. 30, 2019 | $ 0 | $ 1,000 | $ 1,397,283 | 28,014,189 | 410,237 | (30,680,635) | (857,926) |
Shares, Outstanding, Beginning Balance at Sep. 30, 2019 | 0 | 1,000,000 | 1,397,287,172 | ||||
Stock Issued During Period, Value, Issued for Services | $ 0 | $ 0 | $ 6,305 | 84,245 | (33,575) | 0 | 56,975 |
Stock Issued During Period, Shares, Issued for Services | 0 | 0 | 6,304,348 | ||||
Stock Issued During Period, Value, New Issues | $ 0 | $ 0 | $ 8,400 | 16,800 | 47,550 | 0 | 72,750 |
Stock Issued During Period, Shares, New Issues | 0 | 0 | 8,399,999 | ||||
Shares issued for note principal and interest, value | $ 0 | $ 0 | $ 39,012 | 277,160 | (54,171) | 0 | 262,001 |
Shares issued for note principal and interest, shares | 0 | 0 | 39,012,350 | ||||
Shares issued for accounts payable, Value | $ 0 | $ 0 | $ 0 | 0 | 0 | 0 | 0 |
Shares issued for accounts payable, Shares | 0 | 0 | 0 | ||||
Shares issued for convertible note principal and interest | $ 0 | $ 0 | $ 26,870 | 124,660 | 0 | 0 | 151,530 |
Shares issued for convertible note principal and interest, shares | 0 | 0 | 26,869,860 | ||||
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | $ 0 | $ 0 | $ 0 | 0 | 0 | (796,342) | (796,342) |
Shares, Outstanding, Ending Balance at Dec. 31, 2019 | 0 | 1,000,000 | 1,477,873,729 | ||||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Adjusted Balance at Dec. 31, 2019 | $ 0 | $ 1,000 | $ 1,477,870 | $ 28,517,054 | $ 370,041 | $ (31,476,977) | $ (1,111,012) |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) | 9 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Net Cash Provided by (Used in) Operating Activities | ||
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | $ (2,349,605) | $ (1,664,951) |
Adjustments to Reconcile Net Income (Loss) to Cash Provided by (Used in) Operating Activities | ||
Depreciation and amortization | 141,813 | 192,299 |
Gain on settlement of debt and accounts payable | 76,540 | (157,991) |
Stock-based compensation - services | 432,390 | 301,557 |
Non cash Interest expense | 849,871 | 481,840 |
Gain on sale of equipment | 0 | (10,000) |
Gain on change in fair value of derivative instrument | (306,827) | (98,594) |
Changes in operating assets and liabilities: | ||
Decrease (Increase) of other assets | 5,500 | 0 |
Increase (Decrease) in Accounts Payable and Accrued Liabilities | 83,322 | 120,019 |
Net Cash Provided by (Used in) Operating Activities, Continuing Operations | (1,066,996) | (835,821) |
Net Cash Provided by (Used in) Investing Activities | ||
Purchase of equipment | (44,125) | (10,481) |
Sale of equipment | 0 | 10,000 |
NET CASH USED IN INVESTING ACTIVITIES | (44,125) | (481) |
Net Cash Provided by (Used in) Financing Activities | ||
Proceeds from issuance of notes payable | 557,500 | 442,500 |
Proceeds from issuance of notes payable - related party | 35,359 | 42,910 |
Payment of notes payable | (210,000) | (13,000) |
Proceeds from the issuance of convertible promissory note | 671,750 | 150,500 |
Repayment of convertible promissory note | (402,301) | (183,333) |
Advances from related party | 0 | 4,312 |
Payment of advances from related party | 0 | (22,596) |
Proceeds from issuance of common stock, net | 497,895 | 294,100 |
Net Cash Provided by (Used in) Financing Activities | 1,150,203 | 715,393 |
Cash and Cash Equivalents, Period Increase (Decrease) | 39,082 | (120,909) |
Supplemental Cash Flow Information | ||
Interest Paid, Including Capitalized Interest, Operating and Investing Activities | 7,170 | 0 |
Income Taxes Paid, Net | 0 | 0 |
Cash Flow, Noncash Investing and Financing Activities Disclosure | ||
Shares issued for settlement of notes payable | 353,798 | 234,949 |
Shares issued for settlement of convertible notes | 151,530 | 0 |
Shares issued to settle accounts payable | 36,400 | 100,288 |
Note payable issued to settle accounts payable | 66,754 | 0 |
Shares issued in conjunction with notes payable and convertible promissory note | 70,500 | 53,201 |
Discount for beneficial conversion feature recognized on issuance of notes payable | $ 102,414 | $ 104,938 |
Initial value of embedded derivative liability | 595,237 | - |
Shares issued to purchase equipment | $ 6,160 | $ 0 |
Reclassification of equipment under construction to property and equipment | 17,018 | 0 |
Reclassification of equipment held for sale of property and equipment | 0 | 56,438 |
Reclassification of deposit on mineral property to property costs | $ 0 | $ 324,000 |
1. ORGANIZATION AND BUSINESS OF
1. ORGANIZATION AND BUSINESS OF COMPANY | 9 Months Ended |
Dec. 31, 2019 | |
Notes | |
1. ORGANIZATION AND BUSINESS OF COMPANY | 1. ORGANIZATION AND BUSINESS OF COMPANY Mexus Gold US (the “Company”) was originally incorporated under the laws of the State of Colorado on June 22, 1990 , as U.S.A. Connection, Inc. On October 28, 2005, the Company changed its’ name to Action Fashions, Ltd. On September 18, 2009 , the Company changed its’ domicile to Nevada and changed its’ name to Mexus Gold US to better reflect the Company’s new planned principle business operations. The Company has a fiscal year end of March 31. The Company is a mining company engaged in the evaluation, acquisition, exploration and advancement of gold, silver and copper in the State of Sonora, Mexico and the Western United States, as well as, the salvage of precious metals from identifiable sources. |
2. BASIS OF PREPARATION
2. BASIS OF PREPARATION | 9 Months Ended |
Dec. 31, 2019 | |
Notes | |
2. BASIS OF PREPARATION | 2. BASIS OF PREPARATION Pursuant to the rules and regulations of the Securities and Exchange Commission for Form 10-Q, the unaudited condensed consolidated financial statements, footnote disclosures and other information normally included in condensed consolidated financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted. The condensed consolidated financial statements contained in this report are unaudited but, in the opinion of management, reflect all adjustments, consisting of only normal recurring adjustments, necessary for a fair presentation of the condensed consolidated financial statements. All significant inter-company accounts and transactions have been eliminated in consolidation. The results of operations for any interim period are not necessarily indicative of results for the full year. The condensed consolidated balance sheet at March 31, 2019 has been derived from the audited consolidated financial statements at that date but does not include all of the information and footnotes required by accounting principles generally accepted in the United States of America for complete financial statements. The preparation of unaudited condensed consolidated financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Management reviews these estimates and assumptions on an ongoing basis using currently available information. Actual results could differ from those estimates. Three-month figures are not necessarily indicative of the results to be reported at the year end. Basis of Consolidation The consolidated financial statements include the accounts of the Company and controlled subsidiaries, Mexus Gold Mining, S.A. de C.V. (“Mexus Gold Mining), Mexus Enterprises S.A. de C.V. (“Mexus Gold Enterprises”) and Mexus Gold MX S.A. DE C.V. (“Mexus Gold MX”). Significant intercompany accounts and transactions have been eliminated. Use of Estimates The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could materially differ from those estimates. Management believes that the estimates used are reasonable. The more significant estimates and assumptions by management include, among others, the accrual of potential liabilities, the assumptions used in valuing share-based instruments issued for services, valuation of derivative liabilities and the valuation allowance for deferred tax assets. Cash and cash equivalents The Company considers highly liquid financial instruments purchased with a maturity of three months or less to be cash equivalents. Equipment Equipment consists of mining tools and equipment, watercraft and vehicles which are depreciated on a straight-line basis over their expected useful lives as follows (see Note 4): Mining tools and equipment 7 years Watercraft 7 years Vehicles 3 years Equipment under Construction Equipment under construction comprises mining equipment that is currently being fabricated and modified by the Company and is not presently in use. Equipment under construction totaled $0 and $17,018 as of December 31, 2019 and March 31, 2019, respectively. Exploration and Development Costs Exploration costs incurred in locating areas of potential mineralization or evaluating properties or working interests with specific areas of potential mineralization are expensed as incurred. Development costs of proven mining properties not yet producing are capitalized at cost classified as capitalized exploration costs under property, plant and equipment. Property holding costs are charged to operations during the period if no significant exploration or development activities are being conducted on the related properties. Upon commencement of production, capitalized exploration and development costs would be amortized based on the estimated proven and probable reserves benefited. Properties determined to be impaired or that are abandoned are written-down to the estimated fair value. Carrying values do not necessarily reflect present or future values. Mineral Property Rights Costs of acquiring mining properties are capitalized upon acquisition. Mine development costs incurred either to develop new ore deposits, to expand the capacity of mines, or to develop mine areas substantially in advance of current production are also capitalized once proven and probable reserves exist and the property is a commercially mineable property. Costs incurred to maintain current production or to maintain assets on a standby basis are charged to operations. Costs of abandoned projects are charged to operations upon abandonment. The Company evaluates the carrying value of capitalized mining costs and related property and equipment costs, to determine if these costs are in excess of their recoverable amount whenever events or changes in circumstances indicate that their carrying amounts may not be recoverable. Evaluation of the carrying value of capitalized costs and any related property and equipment costs are based upon expected future cash flows and/or estimated salvage value in accordance with Accounting Standards Codification (ASC) 360-10-35-15, Impairment or Disposal of Long-Lived Assets Long-Lived Assets In with ASC 360, Property Plant and Equipment the Company tests long-lived assets or asset groups for recoverability when events or changes in circumstances indicate that their carrying amount may not be recoverable. Circumstances which could trigger a review include, but are not limited to: significant decreases in the market price of the asset; significant adverse changes in the business climate or legal factors; accumulation of costs significantly in excess of the amount originally expected for the acquisition or construction of the asset; current period cash flow or operating losses combined with a history of losses or a forecast of continuing losses associated with the use of the asset; and current expectation that the asset will more likely than not be sold or disposed significantly before the end of its estimated useful life. Recoverability is assessed based on the carrying amount of the asset and its fair value which is generally determined based on the sum of the undiscounted cash flows expected to result from the use and the eventual disposal of the asset, as well as specific appraisal in certain instances. An impairment loss is recognized when the carrying amount is not recoverable and exceeds fair value. Fair Value of Financial Instruments ASC Topic 820 defines fair value, establishes a framework for measuring fair value, and expands disclosures about fair value measurements. Included in the ASC Topic 820 framework is a three level valuation inputs hierarchy with Level 1 being inputs and transactions that can be effectively fully observed by market participants spanning to Level 3 where estimates are unobservable by market participants outside of the Company and must be estimated using assumptions developed by the Company. The Company discloses the lowest level input significant to each category of asset or liability valued within the scope of ASC Topic 820 and the valuation method as exchange, income or use. The Company uses inputs which are as observable as possible and the methods most applicable to the specific situation of each company or valued item. The Company's financial instruments consist of cash, accounts payable, accrued liabilities, advances, notes payable, and a promissory note payable. The carrying amount of these financial instruments approximate fair value due to either length of maturity or interest rates that approximate prevailing market rates unless otherwise disclosed in these financial statements. Secured convertible promissory note derivative liability is measured at fair value on a recurring basis using Level 3 inputs. Interest rate risk is the risk that the value of a financial instrument might be adversely affected by a change in the interest rates. The notes payable, loans payable and secured convertible promissory notes have fixed interest rates therefore the Company is exposed to interest rate risk in that they could not benefit from a decrease in market interest rates. In seeking to minimize the risks from interest rate fluctuations, the Company manages exposure through its normal operating and financing activities. Derivative Instruments Accounting standards require that an entity recognize all derivatives as either assets or liabilities in the statement of financial position and measure those instruments at fair value. A change in the market value of the financial instrument is recognized as a gain or loss in results of operations in the period of change. Foreign Currency Translation The Company’s functional and reporting currency is the United States dollar. Monetary assets and liabilities denominated in foreign To the extent that the Company incurs transactions that are not denominated in its functional currency, they are undertaken in Mexican Pesos. The Company has not, as of the date of these financial statements, entered into derivative instruments to offset the impact of foreign currency fluctuations. Comprehensive Loss ASC 220, Comprehensive Income establishes standards for the reporting and display of comprehensive loss and its components in consolidated financial statements. As at December 31, 2019 and 2018, the Company had no items that represent a comprehensive loss, and therefore has not included a schedule of comprehensive loss in the consolidated financial statements. Income Taxes The Company accounts for income taxes using the asset and liability method in accordance with ASC 740, “Accounting for Income Tax”. The asset and liability method provides that deferred tax assets and liabilities are recognized for the expected future tax of temporary differences between the financial reporting and tax bases of assets and liabilities, and for operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using the currently enacted tax rates and laws that will be in effect when the differences are expected to reverse. The Company records a valuation allowance to reduce deferred tax assets to the amount that is believed more likely than not to be realized. Asset Retirement Obligations In accordance with accounting standards for asset retirement obligations (ASC 410), the Company records the fair value of a liability for an asset retirement obligation (ARO) when there is a legal obligation associated with the retirement of a tangible long-lived asset and the liability can be reasonably estimated. The associated asset retirement costs are supposed to be capitalized as part of the carrying amount of the related mineral properties. As of December 31, 2019 and March 31, 2019, the Company has not recorded AROs associated with legal obligations to retire any of the Company’s mineral properties as the settlement dates are not presently determinable. Revenue Recognition In accordance Stock-based Compensation The Company records stock based compensation in accordance with the guidance in ASC Topic 718 which requires the Company to recognize expenses related to the fair value of its employee stock option awards. This eliminates accounting for share-based ASC 505, "Compensation-Stock Compensation", establishes standards for the accounting for transactions in which an entity exchanges its equity instruments to non-employees for goods or services. Under this transition method, stock compensation expense includes compensation expense for all stock-based compensation awards granted on or after January 1, 2006, based on the grant-date fair value estimated in accordance with the provisions of ASC 505. Per Share Data Net loss per common share is computed by dividing net loss by the weighted average common shares outstanding during the period as defined by Financial Accounting Standards, ASC Topic 260, "Earnings per Share". Basic earnings per common share (“EPS”) calculations are determined by dividing net income by the weighted average number of shares of common stock outstanding during the year. At December 31, 2019 and March 31, 2019, we excluded the outstanding securities summarized below, which entitle the holders thereof to acquire shares of common stock as their effect would have been anti-dilutive: December 31, 2019 March 31, 2019 Common stock issuable upon conversion of notes payable and convertible notes payable 310,109,935 77,245,894 Common stock issuable to satisfy stock payable obligations 71,452,242 105,502,659 Total 381,562,177 182,748,553 Recently Issued Accounting Pronouncements In February 2016, the FASB issued ASU No. 2016-02, Leases. Other recent accounting pronouncements issued by the FASB, including its Emerging Issues Task Force, the American Institute of Certified Public Accountants, and the Securities and Exchange Commission did not or are not believed by management to have a material impact on the Company's present or future consolidated financial statements. |
3. GOING CONCERN
3. GOING CONCERN | 9 Months Ended |
Dec. 31, 2019 | |
Notes | |
3. GOING CONCERN | 3. GOING CONCERN The accompanying condensed consolidated financial statements have been prepared assuming the Company will continue as a going concern, which contemplates the realization of assets and satisfaction of liabilities in the normal course of business. During the nine months ended December 31, 2019, the Company incurred a net loss of $2,349,605 and used cash in operating activities of $1,066,996, and at December 31, 2019, had an accumulated deficit of $31,476,977. At December 31, 2019, the Company is in the exploration stage and has not earned revenue from planned operations. These factors, among others, raise substantial doubt about the CompanyÂ’s ability to continue as a going concern within one year of the date that the financial statements are issued. The CompanyÂ’s independent registered public accounting firm, in their report on the CompanyÂ’s financial statements for the year ending March 31, 2019, expressed substantial doubt about the CompanyÂ’s ability to continue as a going concern. The Company is dependent upon outside financing to continue operations. The financial statements do not include any adjustments that might result from the outcome of this uncertainty. It is managementÂ’s plans to raise necessary funds through a private placement of its common stock to satisfy the capital requirements of the CompanyÂ’s business plan. There is no assurance that the Company will be able to raise the necessary funds, or that if it is successful in raising the necessary funds, that the Company will successfully execute its business plan. The condensed consolidated financial statements do not include any adjustments relating to the recoverability and classification of assets and/or liabilities that might be necessary should the Company be unable to continue as a going concern. The continuation as a going concern is dependent upon the ability of the Company to meet our obligations on a timely basis, and, ultimately to attain profitability. |
4. PROPERTY & EQUIPMENT
4. PROPERTY & EQUIPMENT | 9 Months Ended |
Dec. 31, 2019 | |
Notes | |
4. PROPERTY & EQUIPMENT | 4. PROPERTY & EQUIPMENT Cost Accumulated Depreciation December 31, 2019 Net Book Value March 31, 2019 Net Book Value Mining tools and equipment $ 1,771,468 $ 1,479,068 $ 292,400 $ 363,710 Vehicles 177,270 160,656 16,614 19,814 $ 1,948,738 $ 1,639,724 $ 309,014 $ 383,524 Depreciation expense for three and nine months ended December 31, 2019 and 2018 was $28,334 and $60,121 and $141,813 and $192,299 , respectively. |
5. ACCOUNTS PAYABLE - RELATED P
5. ACCOUNTS PAYABLE - RELATED PARTIES | 9 Months Ended |
Dec. 31, 2019 | |
Notes | |
5. ACCOUNTS PAYABLE - RELATED PARTIES | 5. ACCOUNTS PAYABLE – RELATED PARTIES During the nine months ended December 31, 2019 and 2018, the Company incurred rent expense to Paul D. Thompson, the sole director and officer of the Company, of $34,200 and $34,200 , respectively. At December 31, 2019 and March 31, 2019, $174,648 and $140,448 for this obligation is outstanding, respectively. Compensation On July 2, 2015, the Company entered into a compensation agreement with Paul D. Thompson, the sole director and officer of the Company. Mr. Thompson is compensated $15,000 per month and has the option to take payment in Company stock valued at an of 5 days closing price, cash payments or deferred payment in stock or cash. In addition, Mr. Thompson is due 2,000,000 shares of common stock at the end of each fiscal quarter. At December 31, 2019 and March 31, 2019, $210,057 and $294,256 of compensation due is included in accounts payable – related party, respectively and $32,600 for 2,000,000 shares and $32,600 for 2,000,000 shares of common stock due is included in share subscriptions payable, respectively. |
6. NOTES PAYABLE AND NOTES PAYA
6. NOTES PAYABLE AND NOTES PAYABLE RELATED PARTY | 9 Months Ended |
Dec. 31, 2019 | |
Notes | |
6. NOTES PAYABLE AND NOTES PAYABLE RELATED PARTY | 6. NOTES PAYABLE AND NOTES PAYABLE RELATED PARTY During the nine months ended December 31, 2019, the Company issued the following notes payable: i) On April 5, 2019, the Company issued a promissory note (“Note”) for $41,000 in cash. The Note earns interest at 12% per annum, matures on April 6, 2020 and is convertible into shares of common stock of the Company, the option of the Holder, at $0.005 per share. This Note were initially recorded net of a debt discount of $41,000 for a beneficial conversion feature with a corresponding increase in additional paid-in capital of $41,000. ii) On April 15, 2019, the Company issued a promissory note (“Note”) with a principal of amount of $66,754 bearing interest of 10% per annum to settle $66,754 in accounts payable due for accounting fees. The Note is due on June 30, 2020. The holder of the Note may convert principal and interest into shares of common stock of the Company at $0.005 per share. This Note were initially recorded net of a debt discount of $61,414 for a beneficial conversion feature with a corresponding increase in additional paid-in capital of $61,414. iii) On May 14, 2019, the Company issued a promissory note (“Note”) for $90,000 in cash with a face value of $95,000. The face value of the Note was due on May 24, 2019 plus an additional 1,000,000 shares of common stock of the Company. On May 17, 2019 and June 17, 2019, the Company paid the Note holder $60,000 and $35,000, respectively. The 1,000,000 shares of common stock was valued at $8,500 ($0.0085 per share) and recorded as interest expense. An additional $270 was paid to reimburse the Holder for fees. iv) On March 11, 2019 , the Company entered into a loan agreement (“Note”) for $70,000 in cash with a term of one year and one . Upon signing the Note, the Company agreed to issue 3,000,000 shares of common stock of the Company. In addition, the Company agreed to issue a warrant with an exercise price of $0.05 per share once the Note is fully settled. The Note also states that the Company will repay the Note from 5% of the net profit from the Santa Elena Caborca gold project net smelter royalty until the Note is paid in full. During the nine months ended December 31, 2019, an additional $70,000 in cash was advanced in accordance with the terms of the Note. v) Promissory notes with $3,000 in principal that earn interest at 10% per annum and a term of nine months. vi) On July 18, 2019 , the Company entered into a loan agreement (“Note”) for $105,000 in cash. The terms of the Note require the repayment of $75,000 in cash and the issuance of 200,000 shares of the Company on August 1, 2019. On July 31, 2019, the Company repaid $75,000 in cash. On September 25, 2019, the Company agreed to settle the remaining $30,000 of principal by issuing 8,750,000 shares of common stock of the Company resulting in a loss on settlement of debt of $82,788. vii) On July 26, 2019 , a promissory note with principal of $5,000 with interest payable of $350. viii) On August 9,2019 , a promissory note with principal of $6,000 with total interest comprising of $1,300 in cash and 50,000 shares of common stock of the Company. ix) During the period November 1, 2019 to December 11, 2019 , the Company issued 11 promissory notes (“Notes”) with $26,500 in principal that earn interest at 10% per annum and a term of six months. Distinguishing Liabilities from Equity x) On October 7, 2019 , the Company entered into a loan agreement (“Note”) for $125,000 in cash. On October 15, 2019 the Company repaid $40,000 in cash. The balance of the Note is due in equal quarterly installments commencing January 15, 2020 with interest payment at 14% per annum. In conjunction with the issuance of this Note the Company issued 5,000,000 shares of its common stock to the Note holder. The Note holder has the option to settle quarterly cash installments due in shares of common stock of the Company valued at 50% of market value calculated using the average of the last 10 day closing price. Distinguishing Liabilities from Equity xi) On xii) On December 10, 2019, the Company entered into a loan agreement (“Note”) for $61,000 in cash. The balance of the Note is due in equal installments on March 10, 2020 and June 10, 2020 with interest payment at 14% per annum. During the nine months ended December 31, 2019 and 2018, note principal of $252,000 and $64,500 , respectively, was paid through the issuance of 48,149,850 and 12,121,153 shares of common stock, respectively. In addition, during the nine months ended December 31, 2019 and 2018, the Company paid $210,000 and $13,000 in cash, respectively, to settle debt. At December 31, 2019 and March 31, 2019, the carrying value of the notes totaled $803,531 (net of unamortized debt discount of $97,648 and $626,190 (net of unamortized debt discount of $94,127 ), respectively. At December 31, 2019, $467,215 of these notes were in default. There are no default provisions stated in these notes. At December 31, 2019 -and March 31, 2019, accrued interest of $87,130 and $31,332 , respectively, is included in accounts payable and accrued liabilities. Notes payable – related party – At December 31, 2019 and March 31, 2019, notes payable – related party of $102,769 and $67,410 , respectively, are due to Paul Thompson Sr., the sole officer and director of the Company. These notes bear interest from 0% to 12% per annum. Interest and amortization of debt discount was $262,722 and $297,691 for the nine months ended December 31, 2019 and 2018, respectively. The amount by which the if-converted value of notes payable exceeds principal of notes payable at December 31, 2019 is $667 . |
7. PROMISSORY NOTE
7. PROMISSORY NOTE | 9 Months Ended |
Dec. 31, 2019 | |
Notes | |
7. PROMISSORY NOTE | 7. PROMISSORY NOTE At December 31, 2019 and March 31, 2019, outstanding Promissory Notes were $65,000 and $65,000, respectively. Resources As of December 31, 2019, the Company has not made the scheduled payments and is in default on this promissory note. The default rate on the notes is seven percent. At December 31, 2019 and March 31, 2019, accrued interest of $36,276 and $31,117, respectively, is included in accounts payable and accrued liabilities. |
8. CONVERTIBLE PROMISSORY NOTES
8. CONVERTIBLE PROMISSORY NOTES | 9 Months Ended |
Dec. 31, 2019 | |
Notes | |
8. CONVERTIBLE PROMISSORY NOTES | 8. CONVERTIBLE PROMISSORY NOTES Power Up Lending Group Ltd. On November 7, 2018, the Company issued a Convertible Promissory Note (“Note”) to Power Up Lending Group Ltd. (“Holder”) in the original principal amount of $78,000 less transaction costs of $2,500 bearing a 12% annual interest rate and maturing August 30, 2019 for $75,500 in cash. After 170 days after the issue date, this Note together with any unpaid accrued interest is convertible into shares of common stock of the Company at the Holder’s option at a variable conversion price calculated at 65% of the market price defined as the average of the lowest two trading prices during the fifteen trading day period ending on the latest complete trading day prior to the conversion date. The Company determined that upon issuance of the Note, the initial fair value of the embedded conversion feature was $50,690 which was recorded as a debt discount. The Company may repay the Note if repaid in cash within 30 days of date of issue at 110% of the original principal amount plus interest, between 31 days and 60 days at 115% of the original principal amount plus interest, between 61 days and 90 days at 120% of the original principal amount plus interest, between 91 days and 120 days at 125% of the original principal amount plus interest, between 121 days and 150 days at 130% of the original principal amount plus interest, and between 151 days and 170 days at 135% of the original principal amount plus interest. Thereafter, the Company does not have the right of prepayment. At March 31, 2019, the Note is recorded at an accreted value of $125,681 less unamortized debt discount of $48,879. On May 10, 2019, the Company paid $111,531 in cash to Power Up Lending Group Ltd. to fully settle amortization of debt discount was $50,203 for the nine months ended December 31, 2019. On January 25, 2019, the Company issued a Convertible Promissory Note (“Note”) to Power Up Lending Group Ltd. (“Holder”) in the original principal amount of $73,000 less transaction costs of $3,000 bearing a 12% annual interest rate and maturing November 15, 2019 for $70,000 in cash. After 170 days after the issue date, this Note together with any unpaid accrued interest is convertible into shares of common stock of the Company at the Holder’s option at a variable conversion price calculated at 65% of the market price defined as the average of the lowest two trading prices during the fifteen trading day period ending on the latest complete trading day prior to the conversion date. The Company determined that upon issuance of the Note, the initial fair value of the embedded conversion feature was $76,073, of which $70,000 was recorded as debt discount and the remainder of $6,073 was recorded expensed and included in gain (loss) on derivative liability. The Company may repay the Note in cash if repaid within 30 days of date of issue at 110% of the original principal amount plus interest, between 31 days and 60 days at 115% of the original principal amount plus interest, between 61 days and 90 days at 120% of the original principal amount plus interest, between 91 days and 120 days at 125% of the original principal amount plus interest, between 121 days and 150 days at 130% of the original principal amount plus interest, and between 151 days and 170 days at 135% of the original principal amount plus interest. Thereafter, the Company does not have the right of prepayment. At March 31, 2019, the Note is recorded at an accreted value of $114,708 less unamortized debt discount of $52,714. On July 18, 2019, the Company paid $104,188 in cash to Power Up Lending Group Ltd. to fully settle the Note resulting in a gain on settlement of $14,249. Interest and amortization of debt discount was $91,207 for the nine months ended December 31, 2019. On April 5, 2019, the Company issued a Convertible Promissory Note (“Note”) to Power Up Lending Group Ltd. (“Holder”) in the original principal amount of $88,000 less transaction costs of $3,000 bearing a 12% annual interest rate and maturing February 28, 2020 for $85,000 in cash. After 170 days after the issue date, this Note together with any unpaid accrued interest is convertible into shares of common stock of the Company at the Holder’s option at a variable conversion price calculated at 65% of the market price defined as the average of the lowest two trading prices during the fifteen trading day period ending on the latest complete trading day prior to the conversion date. The Company determined that upon issuance of the Note, the initial fair value of the embedded conversion feature was $74,311 which was recorded as a debt discount. The Company may repay the Note if repaid within 30 days of date of issue at 110% of the original principal amount plus interest, between 31 days and 60 days at 115% of the original principal amount plus interest, between 61 days and 90 days at 120% of the original principal amount plus interest, between 91 days and 120 days at 125% of the original principal amount plus interest, between 121 days and 150 days at 130% of the original principal amount plus interest, and between 151 days and 170 days at 135% of the original principal amount plus interest. Thereafter, the Company does not have the right of prepayment. On October 8, 2019, the Company paid $125,830 in cash to Power Up Lending Group Ltd. to fully settle the Note resulting in a gain on settlement of $17,602. Interest and amortization of debt discount was $132,743 for the nine months ended December 31, 2019. On May 9, 2019, the Company issued a Convertible Promissory Note (“Note”) to Power Up Lending Group Ltd. (“Holder”) in the original principal amount of $83,000 less transaction costs of $3,000 bearing a 12% annual interest rate and maturing March 15, 2020 for $80,000 in cash. After 170 days after the issue date, this Note together with any unpaid accrued interest is convertible into shares of common stock of the Company at the Holder’s option at a variable conversion price calculated at 65% of the market price defined as the average of the lowest two trading prices during the fifteen trading day period ending on the latest complete trading day prior to the conversion date. The Company determined that upon issuance of the Note, the initial fair value of the embedded conversion feature was $77,741 which was recorded as a debt discount. The Company may repay the Note if repaid within 30 days of date of issue at 110% of the original principal amount plus interest, between 31 days and 60 days at 115% of the original principal amount plus interest, between 61 days and 90 days at 120% of the original principal amount plus interest, between 91 days and 120 days at 125% of the original principal amount plus interest, between 121 days and 150 days at 130% of the original principal amount plus interest, and between 151 days and 170 days at 135% of the original principal amount plus interest. Thereafter, the Company does not have the right of prepayment. From November 14, 2019 to December 9, 2019, the Company issued 26,869,860 shares of common shares of the Company with the fair value $151,531 to Power Up Lending Group Ltd. to fully settle the Note resulting in a loss on settlement of $16,177. Interest and amortization of debt discount was $133,096 for the nine months ended December 31, 2019. On June 11, 2019, the Company issued a Convertible Promissory Note (“Note”) to Power Up Lending Group Ltd. (“Holder”) in the original principal amount of $42,500 less transaction costs of $2,500 bearing a 12% annual interest rate and maturing April 15, 2020 for $40,000 in cash. After 170 days after the issue date, this Note together with any unpaid accrued interest is convertible into shares of common stock of the Company at the Holder’s option at a variable conversion price calculated at 65% of the market price defined as the average of the lowest two trading prices during the fifteen trading day period ending on the latest complete trading day prior to the conversion date. The Company determined that upon issuance of the Note, the initial fair value of the embedded conversion feature was $38,450 which was recorded as a debt discount. The Company may repay the Note if repaid within 30 days of date of issue at 110% of the original principal amount plus interest, between 31 days and 60 days at 115% of the original principal amount plus interest, between 61 days and 90 days at 120% of the original principal amount plus interest, between 91 days and 120 days at 125% of the original principal amount plus interest, between 121 days and 150 days at 130% of the original principal amount plus interest, and between 151 days and 170 days at 135% of the original principal amount plus interest. Thereafter, the Company does not have the right of prepayment. On December 11, 2019, the Company paid $60,751 in cash to Power Up Lending Group Ltd. to fully settle the Note resulting in a gain on settlement of $8,413. Interest and amortization of debt discount was $67,614 for the nine months ended December 31, 2019. On July 29, 2019, the Company issued a Convertible Promissory Note (“Note”) to Power Up Lending Group Ltd. (“Holder”) in the original principal amount of $85,000 less transaction costs of $2,500 bearing a 12% annual interest rate and maturing June 15, 2020 for $82,500 in cash. After 170 days after the issue date, this Note together with any unpaid accrued interest is convertible into shares of common stock of the Company at the Holder’s option at a variable conversion price calculated at 65% of the market price defined as the average of the lowest two trading prices during the fifteen trading day period ending on the latest complete trading day prior to the conversion date. The Company determined that upon issuance of the Note, the initial fair value of the embedded conversion feature was $105,696 which was recorded as a debt discount. The Company may repay the Note if repaid within 30 days of date of issue at 110% of the original principal amount plus interest, between 31 days and 60 days at 115% of the original principal amount plus interest, between 61 days and 90 days at 120% of the original principal amount plus interest, between 91 days and 120 days at 125% of the original principal amount plus interest, between 121 days and 150 days at 130% of the original principal amount plus interest, and between 151 days and 170 days at 135% of the original principal amount plus interest. Thereafter, the Company does not have the right of prepayment. At December 31, 2019, the Note is recorded at an accreted value of $111,196 less unamortized debt discount of $41,584. Interest and amortization of debt discount was $69,612 for the nine months ended December 31, 2019. On October 3, 2019, the Company issued a Convertible Promissory Note (“Note”) to Power Up Lending Group Ltd. (“Holder”) in the original principal amount of $82,500 less transaction costs of $2,500 bearing a 12% annual interest rate and maturing August 15, 2020 for $80,000 in cash. After 170 days after the issue date, this Note together with any unpaid accrued interest is convertible into shares of common stock of the Company at the Holder’s option at a variable conversion price calculated at 65% of the market price defined as the average of the lowest two trading prices during the fifteen trading day period ending on the latest complete trading day prior to the conversion date. The Company determined that upon issuance of the Note, the initial fair value of the embedded conversion feature was $50,377 which was recorded as a debt discount. The Company may repay the Note if repaid within 30 days of date of issue at 110% of the original principal amount plus interest, between 31 days and 60 days at 115% of the original principal amount plus interest, between 61 days and 90 days at 120% of the original principal amount plus interest, between 91 days and 120 days at 125% of the original principal amount plus interest, between 121 days and 150 days at 130% of the original principal amount plus interest, and between 151 days and 170 days at 135% of the original principal amount plus interest. Thereafter, the Company does not have the right of prepayment. At December 31, 2019, the Note is recorded at an accreted value of $96,186 less unamortized debt discount of $35,531. Interest and amortization of debt discount was $31,031 for the nine months ended December 31, 2019. On December 12, 2019, the Company issued a Convertible Promissory Note (“Note”) to Power Up Lending Group Ltd. (“Holder”) in the original principal amount of $57,500 less transaction costs of $2,500 bearing a 12% annual interest rate and maturing September 15, 2020 for $55,000 in cash. After 170 days after the issue date, this Note together with any unpaid accrued interest is convertible into shares of common stock of the Company at the Holder’s option at a variable conversion price calculated at 65% of the market price defined as the average of the lowest two trading prices during the fifteen trading day period ending on the latest complete trading day prior to the conversion date. The Company determined that upon issuance of the Note, the initial fair value of the embedded conversion feature was $49,646 which was recorded as a debt discount. The Company may repay the Note if repaid within 30 days of date of issue at 110% of the original principal amount plus interest, between 31 days and 60 days at 115% of the original principal amount plus interest, between 61 days and 90 days at 120% of the original principal amount plus interest, between 91 days and 120 days at 125% of the original principal amount plus interest, between 121 days and 150 days at 130% of the original principal amount plus interest, and between 151 days and 170 days at 135% of the original principal amount plus interest. Thereafter, the Company does not have the right of prepayment. At December 31, 2019, the Note is recorded at an accreted value of $57,669 less unamortized debt discount of $46,082. Interest and amortization of debt discount was $6,232 for the nine months ended December 31, 2019. JSJ Investments Inc. On September 16, 2019, the Company issued a Convertible Promissory Note (“Note”) to JSJ Investments Inc. (“Holder”) in the original principal amount of $142,000 less debt discount of $17,000 bearing a 6% annual interest rate and maturing September 16, 2020 for $125,000 in cash. After 180 days after the issue date, this Note together with any unpaid accrued interest is convertible into shares of common stock of the Company at the Holder’s option at a variable conversion price calculated at 35% discount to the average of the two lowest trading prices during the previous fifteen (15) trading days. The Company determined that upon issuance of the Note, the initial fair value of the embedded conversion feature was $103,604 which was recorded as a debt discount. The Company may repay the Note if repaid within 30 days of date of issue at 110% of the original principal amount plus interest, between 31 days and 60 days at 115% of the original principal amount plus interest, between 61 days and 90 days at 120% of the original principal amount plus interest, between 91 days and 120 days at 125% of the original principal amount plus interest, between 121 days and 150 days at 130% of the original principal amount plus interest, and between 151 days and 180 days at 135% of the original principal amount plus interest. Thereafter, the Company does not have the right of prepayment. At December 31, 2019, the Note is recorded at an accreted value of $150,951 less unamortized debt discount of $68,672. Interest and amortization of debt discount was $60,880 for the nine months ended December 31, 2019. Crown Bridge Partners, LLC On November 21, 2019, the Company issued a Convertible Promissory Note (“Note”) to Crown Bridge Partners, LLC (“Holder”) in the original principal amount of $27,500 less transaction costs of $3,250 bearing a 12% annual interest rate and maturing November 21, 2020 for $24,250 in cash. This Note together with any unpaid accrued interest is convertible into shares of common stock of the Company at the Holder’s option at a variable conversion price calculated at 60% of the market price defined as the lowest trading price during the twenty trading day period ending on the latest complete trading day prior to the conversion date. The Company determined that upon issuance of the Note, the initial fair value of the embedded conversion feature was $18,608 which was recorded as a debt discount. The Company may repay the Note if repaid within 60 days of date of issue at 125% of the original principal amount plus interest, between 61 days and 120 days at 135% of the original principal amount plus interest and between 121 days and 180 days at 145% of the original principal amount plus interest. Thereafter, the Company does not have the right of prepayment. At December 31, 2019, the Note is recorded at an accreted value of $26,856 less unamortized debt discount of $16,219. Interest and amortization of debt discount was $4,995 for the nine months ended December 31, 2019. Auctus Fund, LLC On December 19, 2019 , the Company entered into a Securities Purchase Agreement with Auctus Fund, LLC, (“Holder”) relating to the issuance and sale of a Convertible Promissory Note (the “Note”) amortization of debt discount was $9,762 for the nine months ended December 31, 2019. |
9. CONVERTIBLE PROMISSORY NOTE
9. CONVERTIBLE PROMISSORY NOTE DERIVATIVE LIABILITY | 9 Months Ended |
Dec. 31, 2019 | |
Notes | |
9. CONVERTIBLE PROMISSORY NOTE DERIVATIVE LIABILITY | 9. CONVERTIBLE PROMISSORY NOTE DERIVATIVE LIABILITY The Convertible Promissory Notes (“Notes”) with Power Up Lending Group Ltd., JSJ Investments Inc., Crown Bridge Partners, LLC and Auctus Fund, LLC March 31, 2019 June 30, 2019 Sept. 30, 2019 Dec. 31, 2019 Closing share price $0.0112 $0.01 $0.0115 $0.0038 Conversion price $0.0100 $0.0075 $0.0113 $0.0031 - $0.0032 Risk free rate 2.44% - 2.56% 2.10% 2.10% 1.51% - 1.60% Expected volatility 230% 216% - 256% 153% - 214% 172% - 211% Dividend yield 0% 0% 0% 0% Expected life (years) 0.42- 0.63 0.38 – 0.79 0.39 – 0.96 0.46 – 0.89 The inputs The fair value of the conversion option derivative liabilities is $365,530 and $113,091 at December 31, 2019 and March 31, 2019, respectively. The decrease (increase) in the fair value of the conversion option derivative liability for the three and nine months ended December 31, 2019 and 2018 of $72,479 and $223 and $307,707 and $98,594 , respectively, is recorded as a gain (loss) in the condensed consolidated statements of operations. |
10. WARRANT LIABILITY
10. WARRANT LIABILITY | 9 Months Ended |
Dec. 31, 2019 | |
Notes | |
10. WARRANT LIABILITY | 10. WARRANT LIABILITY In conjunction with the issuance of the Convertible Promissory Note with Auctus Fund, LLC (the “Note”) on December 19, 2019 Company issued 10,000,000 warrants with an exercise price of $0.005 and a term of five years. The warrants are subject to down round and other anti-dilution protections. The warrant is tainted and classified as a liability as a result of the issuance of the Note since there is a possibility during the life of the warrant the Company would not have enough authorized shares available if the warrant is exercised. The Company’s warrant liability has been measured at fair value at December 19, 2019 and December 31, 2019 using the Black-Scholes . The inputs December 19, 2019 December 31, 2019 Closing share price $ 0.0037 $ 0.0038 Conversion price $ 0.005 $ 0.005 Risk free rate 1.65% 1.69% Expected volatility 178% 177% Dividend yield 0% 0% Expected life (years) 5.0 4.97 The fair value of the warrant liability is $35,090 , which was recorded as initial derivative expense, and $35,971 at December 19, 2019 and December 31, 2019, respectively. The decrease (increase) in the fair value of the warrant liability of $(881) is recorded as a loss in the unaudited condensed consolidated statements of operations for the three and nine months ended December 31, 2019. |
11. CONTINGENT LIABILITIES
11. CONTINGENT LIABILITIES | 9 Months Ended |
Dec. 31, 2019 | |
Notes | |
11. CONTINGENT LIABILITIES | 11. CONTINGENT LIABILITIES An asset retirement obligation is a legal obligation associated with the disposal or retirement of a tangible long-lived asset that results from the |
12. STOCKHOLDERS' EQUITY (DEFIC
12. STOCKHOLDERS' EQUITY (DEFICIT) | 9 Months Ended |
Dec. 31, 2019 | |
Notes | |
12. STOCKHOLDERS' EQUITY (DEFICIT) | 12. STOCKHOLDERS’ EQUITY (DEFICIT) The Preferred Stock, $0.001 par value per share; 9,000,000 shares authorized, 0 issued and outstanding at December 31, 2019 and March 31, 2019. Series A Convertible Preferred Stock (‘Series A Preferred Stock”), $0.001 par value share; 1,000,000 shares authorized: 1,000,000 shares issued and outstanding at December 31, 2019 and March 31, 2019. Holders of Series A Preferred Stock may convert one share of Series A Preferred Stock into ten shares of Common Stock. Holders of Series A Preferred Stock have the number of votes determined by multiplying (a) the number of Series A Preferred Stock held by such holder, (b) the number of issued and outstanding Series A Preferred Stock and Common Stock on a fully diluted basis, and (c) 0.000006. Common Stock, par value of $0.001 per share; 5,000,000,000 shares authorized: 1,477,873,729 and 1,011,848,975 shares issued and outstanding at December 31, 2019 and March 31, 2019, respectively. Holders of Common Stock have one vote per share of Common Stock held. Common Stock Issued On April 17, 2019, the Company issued 53,799,286 shares of common stock to satisfy obligations under share subscription agreements of $ On April 30, 2019, the Company issued 15,444,439 shares of common stock to satisfy obligations under share subscription agreements of $7,000 for settlement of services and $15,500 for cash receipts included in share subscriptions payable. On May 8, 2019, the Company issued 45,882,143 shares of common stock to satisfy obligations under share subscription agreements of $48,496 for settlement of services, $117,400 to settle accounts payable, $2,254 for interest and $32,100 for cash receipts included in share subscriptions payable. On June 4, 2019, the Company issued 16,678,333 shares of common stock to satisfy obligations under share subscription agreements of $13,291 for settlement of services and $23,000 for cash receipts included in share subscriptions payable. On June 18, 2019, the Company issued 23,445,000 shares of common stock to satisfy obligations under share subscription agreements of $101,078 for settlement of services, $18,050 for cash receipts, $6,500 to settle notes payable and $3,960 for interest included in share subscriptions payable. On July 2, 2019, the Company issued 5,000,000 shares of common stock to satisfy obligations under share subscription agreements of $10,000 for cash receipts. On July 9, 2019, the Company issued 17,314,000 shares of common stock to satisfy obligations under share subscription agreements of $57,200 for settlement of services and $20,785 for cash receipts included in share subscriptions payable. On July 10, 2019, the Company issued 61,108,334 shares of common stock to satisfy obligations under share subscription agreements of $90,000 for settlement of services and $90,110 for cash receipts included in share subscriptions payable. On July 22, 2019, the Company issued 22,083,332 shares of common stock to satisfy obligations under share subscription agreements for $25,500 for cash receipts included in share subscriptions payable. On July 29, 2019, the Company cancelled 1,000,000 shares of common stock originally issued to satisfy obligations under share subscription agreements of $5,000 for cash receipts. On August 9, 2019, the Company issued 32,933,332 shares of common stock to satisfy obligations under share subscription agreements of $63,300 for settlement of services, $29,900 for cash receipts and $38,500 for interest included in share subscriptions payable. On August 13, 2019, the Company issued 10,000,000 shares of common stock to satisfy obligations under share subscription agreements of $103,000 for settlement of services included in share subscriptions payable. On August 20, 2019, the Company issued 39,583,332 shares of common stock to satisfy obligations under share subscription agreements of $56,700 for settlement of cash receipts included in share subscriptions payable. On September 17, 2019, the Company issued 43,166,666 shares of common stock to satisfy obligations under share subscription agreements $62,400 for cash receipts and $10,000 for settlement of notes payable included in share subscriptions payable. On October 1, 2019, the Company issued 19,912,499 shares of common stock to satisfy obligations under share subscription agreements of $37,200 for settlement of services, $25,200 for cash receipts, $3,384 for interest and $112,788 for the settlement of notes payable included in share subscriptions payable. On October 29, 2019, the Company issued 29,999,850 shares of common stock to satisfy obligations under share subscription agreements of $200,000 for settlement of notes payable included in share subscriptions payable. On November 1, 2019, the Company issued 3,804,348 shares of common stock to satisfy obligations under share subscription agreements of $53,350 for settlement of services included in share subscriptions payable. On November 20, 2019, the Company issued 2,272,727 shares of common stock to satisfy obligations under share subscription agreements of $22,500 for settlement of convertible notes included in share subscriptions payable. On November 21, 2019, the Company issued 3,488,372 shares of common stock to satisfy obligations under share subscription agreements of $20,930 for settlement of convertible notes included in share subscriptions payable. On November 25, 2019, the Company issued 4,166,667 shares of common stock to satisfy obligations under share subscription agreements of $22,917 for settlement of convertible notes included in share subscriptions payable. On December 2, 2019, the Company issued 5,625,000 shares of common stock to satisfy obligations under share subscription agreements of $28,125 for settlement of convertible notes included in share subscriptions payable. On On December 9, 2019, the Company issued 5,761,538 shares of common stock to satisfy obligations under share subscription agreements of $26,503 for settlement of convertible notes included in share subscriptions payable. Common Stock Payable As at December 31, 2019, the Company had total subscriptions payable for 71,452,242 shares of common stock for $125,132 in cash, shares of common stock for interest valued at $63,112, shares of common stock for services valued at $151,527, shares of common stock for notes payable of $24,510 and shares of common stock for equipment of $6,160. |
13. RELATED PARTY TRANSACTIONS
13. RELATED PARTY TRANSACTIONS | 9 Months Ended |
Dec. 31, 2019 | |
Notes | |
13. RELATED PARTY TRANSACTIONS | 13. RELATED PARTY TRANSACTIONS During the nine months ended December 31, 2019 and 2018, the Company entered into the following transactions with related parties: Paul D. Thompson, sole director and officer of the Company Taurus Gold, Inc., controlled by Paul D. Thompson Accounts payable – related parties – Note 5 Notes payable – Note 6 |
14. SUBSEQUENT EVENTS
14. SUBSEQUENT EVENTS | 9 Months Ended |
Dec. 31, 2019 | |
Notes | |
14. SUBSEQUENT EVENTS | 14. SUBSEQUENT EVENTS Common Stock Issued On January 8, 2020 , the Company issued 15,225,000 shares of common stock to satisfy obligations under share subscription agreements of $37,500 for cash receipts, $62,000 for interest and $24,510 for the settlement of notes payable included in share subscriptions payable. On January 31, 2020 , the Company issued 3,300,000 shares of common stock to satisfy obligations under share subscription agreements of $9,250 for cash receipts and $6,160 for equipment included in share subscriptions payable. On January 31, 2020 , the Company issued 5,714,286 shares of common stock to satisfy obligations under share subscription agreements of $18,286 for settlement of convertible notes included in share subscriptions payable. On February 7, 2020 , the Company issued 8,333,333 shares of common stock to satisfy obligations under share subscription agreements of $28,334 for settlement of convertible notes included in share subscriptions payable. Common Stock Payable For the period of January 1, 2020 to February 7, 2020 , the Company issued subscriptions payable for 4,500,000 shares of common stock for $18,700 ($0.0042 per share) in services. For the period of January 1, 2020 to February 7, 2020 , the Company issued subscriptions payable for 500,000 shares of common stock for $2,150 ($0.0043 per share) to settle notes payable – related party. For the period of January 1, 2020 to February 7, 2020 , the Company issued subscriptions payable for 14,047,619 shares of common stock for Notes Payable For the period of January 1, 2020 to February 7, 2020, the Company issued various notes payable for $40,500 in cash. These notes bear interest at 10% per annum, are unsecured and have maturities from one to six months. These notes payable include $16,500 of principal which are convertible |
2. BASIS OF PREPARATION_ Basis
2. BASIS OF PREPARATION: Basis of Consolidation (Policies) | 9 Months Ended |
Dec. 31, 2019 | |
Policies | |
Basis of Consolidation | Basis of Consolidation The consolidated financial statements include the accounts of the Company and controlled subsidiaries, Mexus Gold Mining, S.A. de C.V. (“Mexus Gold Mining), Mexus Enterprises S.A. de C.V. (“Mexus Gold Enterprises”) and Mexus Gold MX S.A. DE C.V. (“Mexus Gold MX”). Significant intercompany accounts and transactions have been eliminated. |
2. BASIS OF PREPARATION_ Use of
2. BASIS OF PREPARATION: Use of Estimates (Policies) | 9 Months Ended |
Dec. 31, 2019 | |
Policies | |
Use of Estimates | Use of Estimates The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could materially differ from those estimates. Management believes that the estimates used are reasonable. The more significant estimates and assumptions by management include, among others, the accrual of potential liabilities, the assumptions used in valuing share-based instruments issued for services, valuation of derivative liabilities and the valuation allowance for deferred tax assets. |
2. BASIS OF PREPARATION_ Cash a
2. BASIS OF PREPARATION: Cash and cash equivalents (Policies) | 9 Months Ended |
Dec. 31, 2019 | |
Policies | |
Cash and cash equivalents | Cash and cash equivalents The Company considers highly liquid financial instruments purchased with a maturity of three months or less to be cash equivalents. |
2. BASIS OF PREPARATION_ Equipm
2. BASIS OF PREPARATION: Equipment (Policies) | 9 Months Ended |
Dec. 31, 2019 | |
Policies | |
Equipment | Equipment Equipment consists of mining tools and equipment, watercraft and vehicles which are depreciated on a straight-line basis over their expected useful lives as follows (see Note 4): Mining tools and equipment 7 years Watercraft 7 years Vehicles 3 years |
2. BASIS OF PREPARATION_ Equi_2
2. BASIS OF PREPARATION: Equipment under Construction (Policies) | 9 Months Ended |
Dec. 31, 2019 | |
Policies | |
Equipment under Construction | Equipment under Construction Equipment under construction comprises mining equipment that is currently being fabricated and modified by the Company and is not presently in use. Equipment under construction totaled $0 and $17,018 as of December 31, 2019 and March 31, 2019, respectively. |
2. BASIS OF PREPARATION_ Explor
2. BASIS OF PREPARATION: Exploration and Development Costs (Policies) | 9 Months Ended |
Dec. 31, 2019 | |
Policies | |
Exploration and Development Costs | Exploration and Development Costs Exploration costs incurred in locating areas of potential mineralization or evaluating properties or working interests with specific areas of potential mineralization are expensed as incurred. Development costs of proven mining properties not yet producing are capitalized at cost classified as capitalized exploration costs under property, plant and equipment. Property holding costs are charged to operations during the period if no significant exploration or development activities are being conducted on the related properties. Upon commencement of production, capitalized exploration and development costs would be amortized based on the estimated proven and probable reserves benefited. Properties determined to be impaired or that are abandoned are written-down to the estimated fair value. Carrying values do not necessarily reflect present or future values. |
2. BASIS OF PREPARATION_ Minera
2. BASIS OF PREPARATION: Mineral Property Rights (Policies) | 9 Months Ended |
Dec. 31, 2019 | |
Policies | |
Mineral Property Rights | Mineral Property Rights Costs of acquiring mining properties are capitalized upon acquisition. Mine development costs incurred either to develop new ore deposits, to expand the capacity of mines, or to develop mine areas substantially in advance of current production are also capitalized once proven and probable reserves exist and the property is a commercially mineable property. Costs incurred to maintain current production or to maintain assets on a standby basis are charged to operations. Costs of abandoned projects are charged to operations upon abandonment. The Company evaluates the carrying value of capitalized mining costs and related property and equipment costs, to determine if these costs are in excess of their recoverable amount whenever events or changes in circumstances indicate that their carrying amounts may not be recoverable. Evaluation of the carrying value of capitalized costs and any related property and equipment costs are based upon expected future cash flows and/or estimated salvage value in accordance with Accounting Standards Codification (ASC) 360-10-35-15, Impairment or Disposal of Long-Lived Assets |
2. BASIS OF PREPARATION_ Long-L
2. BASIS OF PREPARATION: Long-Lived Assets (Policies) | 9 Months Ended |
Dec. 31, 2019 | |
Policies | |
Long-Lived Assets | Long-Lived Assets In with ASC 360, Property Plant and Equipment the Company tests long-lived assets or asset groups for recoverability when events or changes in circumstances indicate that their carrying amount may not be recoverable. Circumstances which could trigger a review include, but are not limited to: significant decreases in the market price of the asset; significant adverse changes in the business climate or legal factors; accumulation of costs significantly in excess of the amount originally expected for the acquisition or construction of the asset; current period cash flow or operating losses combined with a history of losses or a forecast of continuing losses associated with the use of the asset; and current expectation that the asset will more likely than not be sold or disposed significantly before the end of its estimated useful life. Recoverability is assessed based on the carrying amount of the asset and its fair value which is generally determined based on the sum of the undiscounted cash flows expected to result from the use and the eventual disposal of the asset, as well as specific appraisal in certain instances. An impairment loss is recognized when the carrying amount is not recoverable and exceeds fair value. |
2. BASIS OF PREPARATION_ Fair V
2. BASIS OF PREPARATION: Fair Value of Financial Instruments (Policies) | 9 Months Ended |
Dec. 31, 2019 | |
Policies | |
Fair Value of Financial Instruments | Fair Value of Financial Instruments ASC Topic 820 defines fair value, establishes a framework for measuring fair value, and expands disclosures about fair value measurements. Included in the ASC Topic 820 framework is a three level valuation inputs hierarchy with Level 1 being inputs and transactions that can be effectively fully observed by market participants spanning to Level 3 where estimates are unobservable by market participants outside of the Company and must be estimated using assumptions developed by the Company. The Company discloses the lowest level input significant to each category of asset or liability valued within the scope of ASC Topic 820 and the valuation method as exchange, income or use. The Company uses inputs which are as observable as possible and the methods most applicable to the specific situation of each company or valued item. The Company's financial instruments consist of cash, accounts payable, accrued liabilities, advances, notes payable, and a promissory note payable. The carrying amount of these financial instruments approximate fair value due to either length of maturity or interest rates that approximate prevailing market rates unless otherwise disclosed in these financial statements. Secured convertible promissory note derivative liability is measured at fair value on a recurring basis using Level 3 inputs. Interest rate risk is the risk that the value of a financial instrument might be adversely affected by a change in the interest rates. The notes payable, loans payable and secured convertible promissory notes have fixed interest rates therefore the Company is exposed to interest rate risk in that they could not benefit from a decrease in market interest rates. In seeking to minimize the risks from interest rate fluctuations, the Company manages exposure through its normal operating and financing activities. |
2. BASIS OF PREPARATION_ Deriva
2. BASIS OF PREPARATION: Derivative Instruments (Policies) | 9 Months Ended |
Dec. 31, 2019 | |
Policies | |
Derivative Instruments | Derivative Instruments Accounting standards require that an entity recognize all derivatives as either assets or liabilities in the statement of financial position and measure those instruments at fair value. A change in the market value of the financial instrument is recognized as a gain or loss in results of operations in the period of change. |
2. BASIS OF PREPARATION_ Foreig
2. BASIS OF PREPARATION: Foreign Currency Translation (Policies) | 9 Months Ended |
Dec. 31, 2019 | |
Policies | |
Foreign Currency Translation | Foreign Currency Translation The CompanyÂ’s functional and reporting currency is the United States dollar. Monetary assets and liabilities denominated in foreign To the extent that the Company incurs transactions that are not denominated in its functional currency, they are undertaken in Mexican Pesos. The Company has not, as of the date of these financial statements, entered into derivative instruments to offset the impact of foreign currency fluctuations. |
2. BASIS OF PREPARATION_ Compre
2. BASIS OF PREPARATION: Comprehensive Loss (Policies) | 9 Months Ended |
Dec. 31, 2019 | |
Policies | |
Comprehensive Loss | Comprehensive Loss ASC 220, Comprehensive Income establishes standards for the reporting and display of comprehensive loss and its components in consolidated financial statements. As at December 31, 2019 and 2018, the Company had no items that represent a comprehensive loss, and therefore has not included a schedule of comprehensive loss in the consolidated financial statements. |
2. BASIS OF PREPARATION_ Income
2. BASIS OF PREPARATION: Income Taxes (Policies) | 9 Months Ended |
Dec. 31, 2019 | |
Policies | |
Income Taxes | Income Taxes The Company accounts for income taxes using the asset and liability method in accordance with ASC 740, “Accounting for Income Tax”. The asset and liability method provides that deferred tax assets and liabilities are recognized for the expected future tax of temporary differences between the financial reporting and tax bases of assets and liabilities, and for operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using the currently enacted tax rates and laws that will be in effect when the differences are expected to reverse. The Company records a valuation allowance to reduce deferred tax assets to the amount that is believed more likely than not to be realized. |
2. BASIS OF PREPARATION_ Asset
2. BASIS OF PREPARATION: Asset Retirement Obligations (Policies) | 9 Months Ended |
Dec. 31, 2019 | |
Policies | |
Asset Retirement Obligations | Asset Retirement Obligations In accordance with accounting standards for asset retirement obligations (ASC 410), the Company records the fair value of a liability for an asset retirement obligation (ARO) when there is a legal obligation associated with the retirement of a tangible long-lived asset and the liability can be reasonably estimated. The associated asset retirement costs are supposed to be capitalized as part of the carrying amount of the related mineral properties. As of December 31, 2019 and March 31, 2019, the Company has not recorded AROs associated with legal obligations to retire any of the CompanyÂ’s mineral properties as the settlement dates are not presently determinable. |
2. BASIS OF PREPARATION_ Revenu
2. BASIS OF PREPARATION: Revenue Recognition (Policies) | 9 Months Ended |
Dec. 31, 2019 | |
Policies | |
Revenue Recognition | Revenue Recognition In accordance |
2. BASIS OF PREPARATION_ Stock-
2. BASIS OF PREPARATION: Stock-based Compensation (Policies) | 9 Months Ended |
Dec. 31, 2019 | |
Policies | |
Stock-based Compensation | Stock-based Compensation The Company records stock based compensation in accordance with the guidance in ASC Topic 718 which requires the Company to recognize expenses related to the fair value of its employee stock option awards. This eliminates accounting for share-based ASC 505, "Compensation-Stock Compensation", establishes standards for the accounting for transactions in which an entity exchanges its equity instruments to non-employees for goods or services. Under this transition method, stock compensation expense includes compensation expense for all stock-based compensation awards granted on or after January 1, 2006, based on the grant-date fair value estimated in accordance with the provisions of ASC 505. |
2. BASIS OF PREPARATION_ Per Sh
2. BASIS OF PREPARATION: Per Share Data (Policies) | 9 Months Ended |
Dec. 31, 2019 | |
Policies | |
Per Share Data | Per Share Data Net loss per common share is computed by dividing net loss by the weighted average common shares outstanding during the period as defined by Financial Accounting Standards, ASC Topic 260, "Earnings per Share". Basic earnings per common share (“EPS”) calculations are determined by dividing net income by the weighted average number of shares of common stock outstanding during the year. At December 31, 2019 and March 31, 2019, we excluded the outstanding securities summarized below, which entitle the holders thereof to acquire shares of common stock as their effect would have been anti-dilutive: December 31, 2019 March 31, 2019 Common stock issuable upon conversion of notes payable and convertible notes payable 310,109,935 77,245,894 Common stock issuable to satisfy stock payable obligations 71,452,242 105,502,659 Total 381,562,177 182,748,553 |
2. BASIS OF PREPARATION_ Recent
2. BASIS OF PREPARATION: Recently Issued Accounting Pronouncements (Policies) | 9 Months Ended |
Dec. 31, 2019 | |
Policies | |
Recently Issued Accounting Pronouncements | Recently Issued Accounting Pronouncements In February 2016, the FASB issued ASU No. 2016-02, Leases. Other recent accounting pronouncements issued by the FASB, including its Emerging Issues Task Force, the American Institute of Certified Public Accountants, and the Securities and Exchange Commission did not or are not believed by management to have a material impact on the Company's present or future consolidated financial statements. |
2. BASIS OF PREPARATION_ Equi_3
2. BASIS OF PREPARATION: Equipment: Schedule of Equipment Depreciation (Tables) | 9 Months Ended |
Dec. 31, 2019 | |
Tables/Schedules | |
Schedule of Equipment Depreciation | Mining tools and equipment 7 years Watercraft 7 years Vehicles 3 years |
2. BASIS OF PREPARATION_ Per _2
2. BASIS OF PREPARATION: Per Share Data: Schedule of Excluded Outstanding Securities (Tables) | 9 Months Ended |
Dec. 31, 2019 | |
Tables/Schedules | |
Schedule of Excluded Outstanding Securities | December 31, 2019 March 31, 2019 Common stock issuable upon conversion of notes payable and convertible notes payable 310,109,935 77,245,894 Common stock issuable to satisfy stock payable obligations 71,452,242 105,502,659 Total 381,562,177 182,748,553 |
4. PROPERTY & EQUIPMENT_ Schedu
4. PROPERTY & EQUIPMENT: Schedule of Property and Equipment (Tables) | 9 Months Ended |
Dec. 31, 2019 | |
Tables/Schedules | |
Schedule of Property and Equipment | Cost Accumulated Depreciation December 31, 2019 Net Book Value March 31, 2019 Net Book Value Mining tools and equipment $ 1,771,468 $ 1,479,068 $ 292,400 $ 363,710 Vehicles 177,270 160,656 16,614 19,814 $ 1,948,738 $ 1,639,724 $ 309,014 $ 383,524 |
9. CONVERTIBLE PROMISSORY NOT_2
9. CONVERTIBLE PROMISSORY NOTE DERIVATIVE LIABILITY: Schedule of Fair Value Measurement of Convertible Promissory Note Derivative Liability (Tables) | 9 Months Ended |
Dec. 31, 2019 | |
Tables/Schedules | |
Schedule of Fair Value Measurement of Convertible Promissory Note Derivative Liability | March 31, 2019 June 30, 2019 Sept. 30, 2019 Dec. 31, 2019 Closing share price $0.0112 $0.01 $0.0115 $0.0038 Conversion price $0.0100 $0.0075 $0.0113 $0.0031 - $0.0032 Risk free rate 2.44% - 2.56% 2.10% 2.10% 1.51% - 1.60% Expected volatility 230% 216% - 256% 153% - 214% 172% - 211% Dividend yield 0% 0% 0% 0% Expected life (years) 0.42- 0.63 0.38 – 0.79 0.39 – 0.96 0.46 – 0.89 |
10. WARRANT LIABILITY_ Schedule
10. WARRANT LIABILITY: Schedule of Fair Value Measurement of Warrant Liability (Tables) | 9 Months Ended |
Dec. 31, 2019 | |
Tables/Schedules | |
Schedule of Fair Value Measurement of Warrant Liability | December 19, 2019 December 31, 2019 Closing share price $ 0.0037 $ 0.0038 Conversion price $ 0.005 $ 0.005 Risk free rate 1.65% 1.69% Expected volatility 178% 177% Dividend yield 0% 0% Expected life (years) 5.0 4.97 |
1. ORGANIZATION AND BUSINESS _2
1. ORGANIZATION AND BUSINESS OF COMPANY (Details) | 9 Months Ended |
Dec. 31, 2019 | |
Details | |
Entity Incorporation, Date of Incorporation | Jun. 22, 1990 |
Entity Information, Former Legal or Registered Name | U.S.A. Connection, Inc. |
Entity Information, Date to Change Former Legal or Registered Name | Sep. 18, 2009 |
Entity Incorporation, State or Country Code | NV |
2. BASIS OF PREPARATION_ Equi_4
2. BASIS OF PREPARATION: Equipment: Schedule of Equipment Depreciation (Details) | 9 Months Ended |
Dec. 31, 2019 | |
Mining tools and equipment | |
Property, Plant and Equipment, Useful Life | 7 years |
Watercrafts | |
Property, Plant and Equipment, Useful Life | 7 years |
Vehicles | |
Property, Plant and Equipment, Useful Life | 3 years |
2. BASIS OF PREPARATION_ Equi_5
2. BASIS OF PREPARATION: Equipment under Construction (Details) - USD ($) | Dec. 31, 2019 | Mar. 31, 2019 |
Details | ||
Equipment under construction | $ 0 | $ 17,018 |
2. BASIS OF PREPARATION_ Per _3
2. BASIS OF PREPARATION: Per Share Data: Schedule of Excluded Outstanding Securities (Details) - shares | Dec. 31, 2019 | Mar. 31, 2019 |
Details | ||
Common stock issuable upon conversion of convertible notes payable | 310,109,935 | 77,245,894 |
Common stock issuable to satisfy stock payable obligations | 71,452,242 | 105,502,659 |
Total Securities Excluded | 381,562,177 | 182,748,553 |
3. GOING CONCERN (Details)
3. GOING CONCERN (Details) - USD ($) | 3 Months Ended | 9 Months Ended | |||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | Mar. 31, 2019 | |
Details | |||||
Net Income (Loss) Attributable to Parent | $ (796,342) | $ (704,185) | $ (2,349,605) | $ (1,664,951) | |
Net Cash Provided by (Used in) Operating Activities, Continuing Operations | (1,066,996) | $ (835,821) | |||
Accumulated deficit | $ (31,476,977) | $ (31,476,977) | $ (29,127,372) |
4. PROPERTY & EQUIPMENT_ Sche_2
4. PROPERTY & EQUIPMENT: Schedule of Property and Equipment (Details) | 9 Months Ended |
Dec. 31, 2019USD ($) | |
Equipment | |
Property, Cost | $ 1,771,468 |
Property, Accumulated Depreciation | 1,479,068 |
Property, Net Book Value | 292,400 |
Property, Net Book Value | 363,710 |
Vehicles | |
Property, Cost | 177,270 |
Property, Accumulated Depreciation | 160,656 |
Property, Net Book Value | 16,614 |
Property, Net Book Value | $ 19,814 |
4. PROPERTY & EQUIPMENT (Detail
4. PROPERTY & EQUIPMENT (Details) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | |
Details | ||||
Depreciation | $ 28,334 | $ 141,813 | $ 60,121 | $ 192,299 |
5. ACCOUNTS PAYABLE - RELATED_2
5. ACCOUNTS PAYABLE - RELATED PARTIES (Details) - USD ($) | 9 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Mar. 31, 2019 | |
Rent expense - related party | $ 34,200 | $ 34,200 | |
Rent outstanding - related party | 174,648 | $ 140,448 | |
Accounts payable - related party | 384,705 | 434,704 | |
Share subscription payable | 370,041 | 632,840 | |
Paul D. Thompson, the sole director and officer of the Company | |||
Accounts payable - related party | 210,057 | 294,256 | |
Share subscription payable | $ 32,600 | $ 32,600 |
6. NOTES PAYABLE AND NOTES PA_2
6. NOTES PAYABLE AND NOTES PAYABLE RELATED PARTY (Details) - USD ($) | 9 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Mar. 31, 2019 | |
Debt Instrument, Convertible, Terms of Conversion Feature | 71,452,242 | ||
Long-term Debt | $ 803,531 | $ 626,190 | |
Debt Instrument, Unamortized Discount | 97,648 | 94,127 | |
Interest Payable, Current | 87,130 | 31,332 | |
Notes payable - related parties | 102,769 | $ 67,410 | |
Interest and amortization of debt discount | 262,722 | $ 297,691 | |
Amount by which the if-converted value of notes payable exceeds principal of notes payable | $ 667 | ||
Note Payable #1 | |||
Debt Instrument, Issuance Date | Apr. 5, 2019 | ||
Debt Instrument, Issuer | Company | ||
Debt Instrument, Description | promissory note | ||
Debt Instrument, Face Amount | $ 41,000 | ||
Debt Instrument, Interest Rate, Stated Percentage | 12.00% | ||
Debt Instrument, Maturity Date | Apr. 6, 2020 | ||
Debt Instrument, Convertible, Terms of Conversion Feature | convertible into shares of common stock of the Company, the option of the Holder, at $0.005 per share | ||
Note Payable #2 | |||
Debt Instrument, Issuance Date | Apr. 15, 2019 | ||
Debt Instrument, Issuer | Company | ||
Debt Instrument, Description | promissory note | ||
Debt Instrument, Face Amount | $ 66,754 | ||
Debt Instrument, Interest Rate, Stated Percentage | 10.00% | ||
Debt Instrument, Maturity Date | Jun. 30, 2020 | ||
Debt Instrument, Convertible, Terms of Conversion Feature | The holder of the Note may convert principal and interest into shares of common stock of the Company at $0.005 per share | ||
Note Payable #3 | |||
Debt Instrument, Issuance Date | May 14, 2019 | ||
Debt Instrument, Issuer | Company | ||
Debt Instrument, Description | promissory note | ||
Debt Instrument, Face Amount | $ 95,000 | ||
Debt Instrument, Maturity Date | May 24, 2019 | ||
Note Payable #4 | |||
Debt Instrument, Issuance Date | Mar. 11, 2019 | ||
Debt Instrument, Issuer | Company | ||
Debt Instrument, Description | loan agreement | ||
Debt Instrument, Face Amount | $ 70,000 | ||
Note Payable #5 | |||
Debt Instrument, Description | Promissory notes | ||
Debt Instrument, Face Amount | $ 3,000 | ||
Debt Instrument, Interest Rate, Stated Percentage | 10.00% | ||
Note Payable #6 | |||
Debt Instrument, Issuance Date | Jul. 18, 2019 | ||
Debt Instrument, Description | loan agreement | ||
Debt Instrument, Face Amount | $ 105,000 | ||
Note Payable #7 | |||
Debt Instrument, Issuance Date | Jul. 26, 2019 | ||
Debt Instrument, Description | promissory note | ||
Debt Instrument, Face Amount | $ 5,000 | ||
Note Payable #8 | |||
Debt Instrument, Issuance Date | Aug. 9, 2019 | ||
Debt Instrument, Description | promissory note | ||
Debt Instrument, Face Amount | $ 6,000 | ||
Note Payable #9 | |||
Debt Instrument, Issuer | Company | ||
Debt Instrument, Description | 11 promissory notes | ||
Debt Instrument, Face Amount | $ 26,500 | ||
Debt Instrument, Interest Rate, Stated Percentage | 10.00% | ||
Debt Instrument, Payment Terms | payable, at the option of the holder, in cash or shares in the Company valued at the average closing prices of the previous 10 trading days | ||
Note Payable #9 | Minimum | |||
Debt Instrument, Issuance Date | Nov. 1, 2019 | ||
Note Payable #9 | Maximum | |||
Debt Instrument, Issuance Date | Dec. 11, 2019 | ||
Note Payable #10 | |||
Debt Instrument, Issuance Date | Oct. 7, 2019 | ||
Debt Instrument, Issuer | Company | ||
Debt Instrument, Description | loan agreement | ||
Debt Instrument, Face Amount | $ 125,000 | ||
Debt Instrument, Interest Rate, Stated Percentage | 14.00% | ||
Note Payable #11 | |||
Debt Instrument, Issuance Date | Nov. 15, 2019 | ||
Debt Instrument, Issuer | Company | ||
Debt Instrument, Description | loan agreement | ||
Debt Instrument, Face Amount | $ 25,000 | ||
Note Payable #12 | |||
Debt Instrument, Issuance Date | Dec. 10, 2019 | ||
Debt Instrument, Issuer | Company | ||
Debt Instrument, Description | oan agreement | ||
Debt Instrument, Face Amount | $ 61,000 | ||
Debt Instrument, Interest Rate, Stated Percentage | 14.00% | ||
Note Payable, Other Transactions | |||
Repayment of Note Principal | $ 252,000 | $ 64,500 | |
Stock Issued During Period, Shares, New Issues | 48,149,850 | 12,121,153 | |
Cash paid to settle debt | $ 210,000 | $ 13,000 |
7. PROMISSORY NOTE (Details)
7. PROMISSORY NOTE (Details) | Dec. 31, 2019 |
Promissory Note #1 | |
Debt Instrument, Interest Rate, Stated Percentage | 4.00% |
8. CONVERTIBLE PROMISSORY NOT_2
8. CONVERTIBLE PROMISSORY NOTES: Power Up Lending Group Ltd (Details) | 9 Months Ended |
Dec. 31, 2019USD ($) | |
Convertible Promissory Note #1 | |
Debt Instrument, Issuance Date | Nov. 7, 2018 |
Debt Instrument, Issuer | the Company |
Debt Instrument, Description | Convertible Promissory Note (“Note”) |
Debt Instrument, Face Amount | $ 78,000 |
Debt Instrument, Interest Rate, Stated Percentage | 12.00% |
Debt Instrument, Maturity Date | Aug. 30, 2019 |
Proceeds from Loans | $ 75,500 |
Convertible Promissory Note #2 | |
Debt Instrument, Issuance Date | Jan. 25, 2019 |
Debt Instrument, Issuer | the Company |
Debt Instrument, Description | Convertible Promissory Note (“Note”) |
Debt Instrument, Face Amount | $ 73,000 |
Debt Instrument, Interest Rate, Stated Percentage | 12.00% |
Debt Instrument, Maturity Date | Nov. 15, 2019 |
Proceeds from Loans | $ 70,000 |
Convertible Promissory Note #3 | |
Debt Instrument, Issuance Date | Apr. 5, 2019 |
Debt Instrument, Issuer | the Company |
Debt Instrument, Description | Convertible Promissory Note (“Note”) |
Debt Instrument, Face Amount | $ 88,000 |
Debt Instrument, Interest Rate, Stated Percentage | 12.00% |
Debt Instrument, Maturity Date | Feb. 28, 2020 |
Proceeds from Loans | $ 85,000 |
Convertible Promissory Note #4 | |
Debt Instrument, Issuance Date | May 9, 2019 |
Debt Instrument, Issuer | the Company |
Debt Instrument, Description | Convertible Promissory Note (“Note”) |
Debt Instrument, Face Amount | $ 83,000 |
Debt Instrument, Interest Rate, Stated Percentage | 12.00% |
Debt Instrument, Maturity Date | Mar. 15, 2020 |
Proceeds from Loans | $ 80,000 |
Convertible Promissory Note #5 | |
Debt Instrument, Issuance Date | Jun. 11, 2019 |
Debt Instrument, Issuer | the Company |
Debt Instrument, Description | Convertible Promissory Note (“Note”) |
Debt Instrument, Face Amount | $ 42,500 |
Debt Instrument, Interest Rate, Stated Percentage | 12.00% |
Debt Instrument, Maturity Date | Apr. 15, 2020 |
Proceeds from Loans | $ 40,000 |
Convertible Promissory Note #6 | |
Debt Instrument, Issuance Date | Jul. 29, 2019 |
Debt Instrument, Issuer | the Company |
Debt Instrument, Description | Convertible Promissory Note (“Note”) |
Debt Instrument, Face Amount | $ 85,000 |
Debt Instrument, Interest Rate, Stated Percentage | 12.00% |
Debt Instrument, Maturity Date | Jun. 15, 2020 |
Proceeds from Loans | $ 82,500 |
Convertible Promissory Note #7 | |
Debt Instrument, Issuance Date | Oct. 3, 2019 |
Debt Instrument, Issuer | the Company |
Debt Instrument, Description | Convertible Promissory Note |
Debt Instrument, Face Amount | $ 82,500 |
Debt Instrument, Interest Rate, Stated Percentage | 12.00% |
Debt Instrument, Maturity Date | Aug. 15, 2020 |
Proceeds from Loans | $ 80,000 |
Convertible Promissory Note #8 | |
Debt Instrument, Issuance Date | Dec. 12, 2019 |
Debt Instrument, Issuer | the Company |
Debt Instrument, Description | Convertible Promissory Note |
Debt Instrument, Face Amount | $ 57,500 |
Debt Instrument, Interest Rate, Stated Percentage | 12.00% |
Debt Instrument, Maturity Date | Sep. 15, 2020 |
Proceeds from Loans | $ 55,000 |
8. CONVERTIBLE PROMISSORY NOT_3
8. CONVERTIBLE PROMISSORY NOTES: JSJ Investments Inc (Details) - Convertible Promissory Note #9 | 9 Months Ended |
Dec. 31, 2019USD ($) | |
Debt Instrument, Issuance Date | Sep. 16, 2019 |
Debt Instrument, Issuer | the Company |
Debt Instrument, Description | Convertible Promissory Note |
Debt Instrument, Face Amount | $ 142,000 |
Debt Instrument, Interest Rate, Stated Percentage | 6.00% |
Debt Instrument, Maturity Date | Sep. 16, 2020 |
Proceeds from Loans | $ 125,000 |
8. CONVERTIBLE PROMISSORY NOT_4
8. CONVERTIBLE PROMISSORY NOTES: Crown Bridge Partners, LLC (Details) - Convertible Promissory Note #10 | 9 Months Ended |
Dec. 31, 2019USD ($) | |
Debt Instrument, Issuance Date | Nov. 21, 2019 |
Debt Instrument, Issuer | the Company |
Debt Instrument, Description | Convertible Promissory Note |
Debt Instrument, Face Amount | $ 27,500 |
Debt Instrument, Interest Rate, Stated Percentage | 12.00% |
Debt Instrument, Maturity Date | Nov. 21, 2020 |
Proceeds from Loans | $ 24,250 |
8. CONVERTIBLE PROMISSORY NOT_5
8. CONVERTIBLE PROMISSORY NOTES: Auctus Fund, LLC (Details) | 9 Months Ended |
Dec. 31, 2019USD ($) | |
Debt Instrument, Convertible, Terms of Conversion Feature | 71,452,242 |
Convertible Promissory Note #11 | |
Debt Instrument, Issuance Date | Dec. 19, 2019 |
Debt Instrument, Issuer | the Company |
Debt Instrument, Description | Securities Purchase Agreement |
Debt Instrument, Face Amount | $ 112,750 |
Debt Instrument, Interest Rate, Stated Percentage | 12.00% |
Debt Instrument, Maturity Date | Oct. 19, 2020 |
Proceeds from Loans | $ 100,000 |
Debt Instrument, Convertible, Terms of Conversion Feature | After 180 days after the issue date, the Note together with any unpaid accrued interest is convertible into shares of common stock of the Company at the Holder’s option at a variable conversion price |
Debt Instrument, Payment Terms | The Company may prepay the Note in cash |
9. CONVERTIBLE PROMISSORY NOT_3
9. CONVERTIBLE PROMISSORY NOTE DERIVATIVE LIABILITY (Details) - USD ($) | 3 Months Ended | 9 Months Ended | |||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | Mar. 31, 2019 | |
Fair value of the conversion option derivative liability | $ 365,530 | $ 365,530 | $ 113,091 | ||
Increase in the fair value of the conversion option derivative liability | $ 72,479 | $ 307,707 | $ 223 | $ 98,594 | |
Convertible Promissory Notes | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Method Used | Black-Scholes model |
9. CONVERTIBLE PROMISSORY NOT_4
9. CONVERTIBLE PROMISSORY NOTE DERIVATIVE LIABILITY: Schedule of Fair Value Measurement of Convertible Promissory Note Derivative Liability (Details) - Convertible Promissory Notes | Dec. 31, 2019$ / shares | Sep. 30, 2019$ / shares | Jun. 30, 2019$ / shares | Mar. 31, 2019$ / shares |
Closing share price | $ 0.0038 | $ 0.0115 | $ 0.01 | $ 0.0112 |
Conversion price | $ 0.0113 | $ 0.0075 | $ 0.0100 | |
Risk free rate | 0.0210 | 0.0210 | ||
Expected volatility | 2.3000 | |||
Dividend yield | 0 | 0 | 0 | 0 |
Minimum | ||||
Conversion price | $ 0.0031 | |||
Risk free rate | 0.0151 | 0.0244 | ||
Expected volatility | 1.7200 | 1.5300 | 2.1600 | |
Expected life (years) | 5 months 16 days | 4 months 20 days | 4 months 17 days | 5 months 1 day |
Maximum | ||||
Conversion price | $ 0.0032 | |||
Risk free rate | 0.0160 | 0.0256 | ||
Expected volatility | 2.1100 | 2.1400 | 2.5600 | |
Expected life (years) | 10 months 20 days | 11 months 16 days | 9 months 14 days | 7 months 17 days |
10. WARRANT LIABILITY (Details)
10. WARRANT LIABILITY (Details) - USD ($) | 9 Months Ended | ||
Dec. 31, 2019 | Dec. 19, 2019 | Mar. 31, 2019 | |
Fair value of Warrant Liability | $ 35,971 | $ 35,971 | $ 35,090 |
Decrease (increase) in the fair value of the warrant liability | $ (881) | ||
Warrants | |||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Method Used | Black-Scholes |
10. WARRANT LIABILITY_ Schedu_2
10. WARRANT LIABILITY: Schedule of Fair Value Measurement of Warrant Liability (Details) - Warrants | Dec. 31, 2019$ / shares | Dec. 19, 2019$ / shares |
Closing share price | $ 0.0038 | $ 0.0037 |
Conversion price | $ 0.005 | $ 0.005 |
Risk free rate | 0.0169 | 0.0165 |
Expected volatility | 1.7700 | 1.7800 |
Dividend yield | 0 | 0 |
Expected life (years) | 4 years 11 months 19 days | 5 years |
12. STOCKHOLDERS' EQUITY (DEF_2
12. STOCKHOLDERS' EQUITY (DEFICIT) (Details) - $ / shares | Dec. 31, 2019 | Dec. 09, 2019 | Dec. 04, 2019 | Dec. 02, 2019 | Nov. 25, 2019 | Nov. 21, 2019 | Nov. 20, 2019 | Nov. 01, 2019 | Oct. 29, 2019 | Sep. 30, 2019 | Sep. 17, 2019 | Aug. 20, 2019 | Aug. 13, 2019 | Aug. 09, 2019 | Jul. 29, 2019 | Jul. 22, 2019 | Jul. 10, 2019 | Jul. 09, 2019 | Jul. 02, 2019 | Jun. 18, 2019 | Jun. 04, 2019 | May 08, 2019 | Apr. 30, 2019 | Apr. 17, 2019 | Mar. 31, 2019 |
Preferred Stock, Par or Stated Value Per Share | $ 0.001 | $ 0.001 | |||||||||||||||||||||||
Preferred Stock, Shares Authorized | 9,000,000 | 9,000,000 | |||||||||||||||||||||||
Preferred Stock, Shares Issued | 0 | 0 | |||||||||||||||||||||||
Preferred Stock, Shares Outstanding | 0 | 0 | |||||||||||||||||||||||
Common Stock, Par or Stated Value Per Share | $ 0.001 | $ 0.001 | |||||||||||||||||||||||
Common Stock, Shares Authorized | 5,000,000,000 | 5,000,000,000 | |||||||||||||||||||||||
Common Stock, Shares, Issued | 1,477,873,729 | 1,011,848,975 | |||||||||||||||||||||||
Common Stock, Shares, Outstanding | 1,477,873,729 | 1,011,848,975 | |||||||||||||||||||||||
Shares, Issued | 5,761,538 | 5,555,556 | 5,625,000 | 4,166,667 | 3,488,372 | 2,272,727 | 3,804,348 | 29,999,850 | 19,912,499 | 43,166,666 | 39,583,332 | 10,000,000 | 32,933,332 | 1,000,000 | 22,083,332 | 61,108,334 | 17,314,000 | 5,000,000 | 23,445,000 | 16,678,333 | 45,882,143 | 15,444,439 | 53,799,286 | ||
Series A Convertible | |||||||||||||||||||||||||
Preferred Stock, Par or Stated Value Per Share | $ 0.001 | $ 0.001 | |||||||||||||||||||||||
Preferred Stock, Shares Authorized | 1,000,000 | 1,000,000 | |||||||||||||||||||||||
Preferred Stock, Shares Issued | 1,000,000 | 1,000,000 | |||||||||||||||||||||||
Preferred Stock, Shares Outstanding | 1,000,000 | 1,000,000 |
12. STOCKHOLDERS' EQUITY (DEF_3
12. STOCKHOLDERS' EQUITY (DEFICIT): Common Stock Payable (Details) | 9 Months Ended |
Dec. 31, 2019 | |
Details | |
Debt Instrument, Convertible, Terms of Conversion Feature | 71,452,242 |
14. SUBSEQUENT EVENTS_ Common S
14. SUBSEQUENT EVENTS: Common Stock Issued (Details) | 9 Months Ended |
Dec. 31, 2019shares | |
Event 1 | |
Subsequent Event, Date | Jan. 8, 2020 |
Subsequent Event, Description | Company issued 15,225,000 shares of common stock |
Shares, Issued | 15,225,000 |
Event 2 | |
Subsequent Event, Date | Jan. 31, 2020 |
Subsequent Event, Description | Company issued 3,300,000 shares of common stock |
Shares, Issued | 3,300,000 |
Event 3 | |
Subsequent Event, Date | Jan. 31, 2020 |
Subsequent Event, Description | Company issued 5,714,286 shares of common stock |
Shares, Issued | 5,714,286 |
Event 4 | |
Subsequent Event, Date | Feb. 7, 2020 |
Subsequent Event, Description | Company issued 8,333,333 shares of common stock |
Shares, Issued | 8,333,333 |
14. SUBSEQUENT EVENTS_ Common_2
14. SUBSEQUENT EVENTS: Common Stock Payable (Details) | 9 Months Ended |
Dec. 31, 2019 | |
Event 5 | |
Subsequent Event, Description | Company issued subscriptions payable for 4,500,000 shares of common stock for $18,700 ($0.0042 per share) in services. |
Event 5 | Minimum | |
Subsequent Event, Date | Jan. 1, 2020 |
Event 5 | Maximum | |
Subsequent Event, Date | Feb. 7, 2020 |
Event 6 | |
Subsequent Event, Description | Company issued subscriptions payable for 500,000 shares of common stock for $2,150 ($0.0043 per share) to settle notes payable – related party. |
Event 6 | Minimum | |
Subsequent Event, Date | Jan. 1, 2020 |
Event 6 | Maximum | |
Subsequent Event, Date | Feb. 7, 2020 |
Event 7 | |
Subsequent Event, Description | Company issued subscriptions payable for 14,047,619 shares of common stock for $46,619 ($0.0043 per share) to settle convertible note principal of $27,000. |
Event 7 | Minimum | |
Subsequent Event, Date | Jan. 1, 2020 |
Event 7 | Maximum | |
Subsequent Event, Date | Feb. 7, 2020 |
14. SUBSEQUENT EVENTS_ Notes Pa
14. SUBSEQUENT EVENTS: Notes Payable (Details) | 9 Months Ended |
Dec. 31, 2019USD ($) | |
Debt Instrument, Convertible, Terms of Conversion Feature | 71,452,242 |
Event 8 | |
Subsequent Event, Description | Company issued various notes payable for $40,500 in cash |
Debt Instrument, Issuer | Company |
Debt Instrument, Description | various notes payable |
Debt Instrument, Face Amount | $ 40,500 |
Debt Instrument, Interest Rate, Stated Percentage | 10.00% |
Debt Instrument, Collateral | unsecured |
Debt Instrument, Convertible, Terms of Conversion Feature | These notes payable include $16,500 of principal which are convertible at the option of the holder into shares of common stock of the Company based on a 10 day average of the closing price |
Event 8 | Minimum | |
Subsequent Event, Date | Jan. 1, 2020 |
Event 8 | Maximum | |
Subsequent Event, Date | Feb. 7, 2020 |