Cover
Cover - USD ($) | 12 Months Ended | |
Mar. 31, 2022 | Jun. 28, 2022 | |
Cover [Abstract] | ||
Document Type | 10-K | |
Amendment Flag | false | |
Document Annual Report | true | |
Document Transition Report | false | |
Document Period End Date | Mar. 31, 2022 | |
Document Fiscal Period Focus | FY | |
Document Fiscal Year Focus | 2022 | |
Current Fiscal Year End Date | --03-31 | |
Entity File Number | 000-53230 | |
Entity Registrant Name | REGENEREX PHARMA, INC. | |
Entity Central Index Key | 0001357878 | |
Entity Tax Identification Number | 98-0479983 | |
Entity Incorporation, State or Country Code | NV | |
Entity Address, Address Line One | 5348 Vegas Drive #177 | |
Entity Address, City or Town | Las Vegas | |
Entity Address, State or Province | NV | |
Entity Address, Postal Zip Code | 89108 | |
City Area Code | (702) | |
Local Phone Number | 273-3772 | |
Title of 12(g) Security | Common Stock, $0.001 par value per share | |
Entity Well-known Seasoned Issuer | No | |
Entity Voluntary Filers | No | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | true | |
Elected Not To Use the Extended Transition Period | false | |
Entity Shell Company | false | |
Entity Public Float | $ 0 | |
Entity Common Stock, Shares Outstanding | 277,112,660 | |
Auditor Firm ID | 3501 | |
Auditor Name | dbbmckennon | |
Auditor Location | Newport Beach, California |
BALANCE SHEETS
BALANCE SHEETS - USD ($) | Mar. 31, 2022 | Mar. 21, 2021 |
Current Assets | ||
Cash and equivalents | $ 2,640 | $ 6,902 |
Prepaid expenses | 5,256 | 1,213 |
Total Current Assets | 7,896 | 8,115 |
Website, net of accumulated amortization of $23,174 and $19,645 as of March 31, 2022 and 2021, respectively | 7,426 | 2,355 |
Total Assets | 15,322 | 10,470 |
Current Liabilities | ||
Accounts payable | 63,027 | 48,038 |
Related party advances | 131,687 | 130,992 |
Accrued compensation | 221,192 | 221,192 |
Other accrued liabilities | 91,667 | 71,003 |
Current portion of notes payable to shareholder | 152,880 | 150,094 |
Total Current Liabilities | 660,453 | 621,319 |
Notes Payable to shareholder, net of current portion | 340,486 | 224,177 |
Total Liabilities | 1,000,939 | 845,496 |
Common stock: $0.001 par value; 675,000,000 shares authorized; 277,112,660 and 127,112,660 issued and outstanding as of March 31, 2022 and 2021. | 277,113 | 127,113 |
Additional paid-in capital | 671,963 | 776,963 |
Accumulated deficit | (1,934,693) | (1,739,102) |
Total Stockholders’ Deficit | (985,617) | (835,026) |
Total Liabilities and Stockholders’ Deficit | $ 15,322 | $ 10,470 |
BALANCE SHEETS (Parenthetical)
BALANCE SHEETS (Parenthetical) - USD ($) | Mar. 31, 2022 | Mar. 31, 2021 |
Statement of Financial Position [Abstract] | ||
Finite-Lived Intangible Assets, Accumulated Amortization | $ 23,174 | $ 19,645 |
Common Stock, Par or Stated Value Per Share | $ 0.001 | $ 0.001 |
Common Stock, Shares Authorized | 675,000,000 | 675,000,000 |
Common Stock, Shares, Issued | 277,112,660 | 127,112,660 |
Common Stock, Shares, Outstanding | 277,112,660 | 127,112,660 |
STATEMENTS OF OPERATIONS
STATEMENTS OF OPERATIONS - USD ($) | 12 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Operating Expenses: | ||
General and administrative | $ 126,267 | $ 43,411 |
Total Operating Expenses | 126,267 | 43,411 |
Operating Loss | (126,267) | (43,411) |
Other (Expense): | ||
Interest expense | (59,063) | (42,905) |
Foreign currency loss | (4,751) | (4,616) |
Total Other (Expense) | (63,814) | (47,521) |
Loss from Continuing Operations | (190,081) | (90,932) |
Loss from Discontinued Operations | (5,510) | (262,820) |
Net Loss | $ (195,591) | $ (353,752) |
Basic and Diluted Loss per Common Share – Continuing Operations | $ 0 | $ 0 |
Weighted Average Number of Common Shares Outstanding | 183,414,030 | 127,112,660 |
STATEMENTS OF CASH FLOWS
STATEMENTS OF CASH FLOWS - USD ($) | 12 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Cash Flows from Operating Activities: | ||
Net loss | $ (195,591) | $ (353,752) |
Loss on discontinued operations | 5,510 | 262,820 |
Adjustments to reconcile net loss to cash flows used in operating activities: | ||
Depreciation | 3,529 | 4,661 |
Foreign currency adjustments | 4,751 | 4,616 |
Stock-based compensation | 45,000 | |
Changes in operating assets and liabilities: | ||
Inventories | 1,128 | |
Prepaid expenses | (4,043) | (1,213) |
Accounts payable and accrued liabilities | 76,432 | 36,345 |
Net used in operating activities | (64,412) | (45,395) |
Net cash used in discontinued operating activities | (5,510) | (17,257) |
Net cash used in operating activities | (69,922) | (62,652) |
Cash Flows from Investing Activities: | ||
Website development | (8,600) | |
Net cash used in investing activities | (8,600) | |
Cash Flows from Financing Activities: | ||
Related party advances | 695 | |
Proceeds from notes payable to shareholder | 73,565 | 64,094 |
Net cash provided by financing activities | 74,260 | 64,094 |
(Decrease) Increase in cash and equivalents | (4,262) | 1,442 |
Cash and cash equivalents, beginning of year | 6,902 | 5,460 |
Cash and cash equivalents, end of year | 2,640 | 6,902 |
Supplemental Cash Flow Information – Cash Paid For: | ||
Income taxes | ||
Interest | ||
Non-Cash Investing and Financing Activities: | ||
Accrued interest converted into note payable to shareholder | 42,818 | 13,838 |
Shares issued for the acquisition of intellectual property | $ 150,000 |
STATEMENTS OF STOCKHOLDERS' DIF
STATEMENTS OF STOCKHOLDERS' DIFICIT - USD ($) | 12 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Balance at March 31, 2022 | $ (835,026) | $ (481,274) |
Common Stock, Shares, Outstanding, Beginning Balance | 127,112,660 | |
Net Loss | $ (195,591) | (353,752) |
Balance at March 31, 2022 | $ (985,617) | $ (835,026) |
Common Stock, Shares, Outstanding, Ending Balance | 277,112,660 | 127,112,660 |
Common stock issued for purchase of intellectual property | ||
Stock-based compensation | 45,000 | |
Common Stock [Member] | ||
Balance at March 31, 2022 | $ 127,113 | $ 127,113 |
Common Stock, Shares, Outstanding, Beginning Balance | 127,112,660 | 127,112,660 |
Net Loss | ||
Balance at March 31, 2022 | $ 277,113 | $ 127,113 |
Common Stock, Shares, Outstanding, Ending Balance | 277,112,660 | 127,112,660 |
Common stock issued for purchase of intellectual property | 150,000 | |
[custom:StockIssuedDuringPeriodPurchaseOfIntellectualProperty] | 150,000,000 | |
Stock-based compensation | ||
Additional Paid-in Capital [Member] | ||
Balance at March 31, 2022 | $ 776,963 | $ 776,963 |
Net Loss | ||
Balance at March 31, 2022 | $ 671,963 | 776,963 |
Common stock issued for purchase of intellectual property | (150,000) | |
Stock-based compensation | 45,000 | |
Retained Earnings [Member] | ||
Balance at March 31, 2022 | $ (1,739,102) | (1,385,350) |
Net Loss | (195,591) | (353,752) |
Balance at March 31, 2022 | $ (1,934,693) | $ (1,739,102) |
Common stock issued for purchase of intellectual property | ||
Stock-based compensation |
NATURE OF OPERATIONS
NATURE OF OPERATIONS | 12 Months Ended |
Mar. 31, 2022 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
NATURE OF OPERATIONS | NOTE 1 – NATURE OF OPERATIONS Regenerex Pharma, Inc., formerly Peptide Technologies, Inc. (the “Company” or “Regenerex”), was incorporated in the State of Nevada, United States of America, on November 18, 2005. The Company’s business was to develop and market proprietary skincare products that was to be sold online. The majority of manufacturing, distribution, marketing, and sales operations was outsourced. The Company’s attempt over the past four years to build a business that marketed skincare products online has not come to fruition, so management decided to change the business focus and look for other opportunities. On November 15, 2021, the Company entered into an Asset Purchase Agreement in which the Company purchased certain intellectual property in exchange for 150,000,000 shares of the Company’s common stock and up to $10,000,000 in contingent consideration to be paid at the rate of 15% of all gross revenues received from sales or investment money into the Company, payable on the 15 th Management has decided to focus on this new business development. The financial results for periods prior to the abandonment of the previous business line have been reflected in the accompanying statement of operations as discontinued operations as this change represented a strategic shift in our business that had a major effect on our operations and financial results. There were no assets or liabilities related to this area as of March 31, 2022 or 2021. Risks and Uncertainties Our business and our forward-looking statements involve substantial known and unknown risks and uncertainties, including the risks and uncertainties inherent in our statements regarding the impacts of COVID-19, or other future pandemics on our business, results of operations, financial position and cash flows. The Company has a lack of revenue history and has had a limited history of operations with the new business focus. No revenue has historically been derived from the assets purchased. Regenerex can give no assurance of success or profitability to the Company’s investors. The Companies business is to develop and market Woundcare Healing products. The Company has three technologies for different types of wound conditions: • The first is for closing chronic wounds, • the second is for accelerating closure of acute or surgical wounds, and • the third solves the issue on contamination of all types of wounds including the destruction of biofilms The current product technology provides the Company a number of complete wound care protocols to treat all wounds, such as diabetic ulcers, pressure ulcers, burns and surgical wounds. These unique products strategically position the Company to enter and capture a high proportionate market share in the U.S. and global markets. Currently, there are no products available on the market that are successful in healing chronic, non-healing wounds through the down regulation of proteases. Management believes that this will provide the Company a distinct advantage over other companies providing services in this sector. The wound care healing space is well suited for Home Care service providers that are funded by the US Government. The majority of manufacturing and distribution will be outsourced. However, strategic planning and development will be performed internally by the Company. |
GOING CONCERN
GOING CONCERN | 12 Months Ended |
Mar. 31, 2022 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
GOING CONCERN | NOTE 2 – GOING CONCERN These financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”), which contemplate the continuation of the Company as a going concern. The Company has incurred losses from operations and had an accumulated deficit of $1,934,693 as of March 31, 2022. The Company also has current liabilities in excess of current assets of $652,557. These factors raise substantial doubt about the Company’s ability to continue as a going concern. Management’s plans are to actively seek capital to enable the Company to add new products and/or services to ultimately achieve profitability. However, management cannot provide assurance that they can raise sufficient capital and whether the Company will ultimately achieve profitability, become cash flow positive, or raise additional debt and/or equity capital. If the Company is unable to raise additional capital in the near future or meet financing requirements, management expects that the Company will need to curtail operations, seek additional capital on less favorable terms, and/or pursue other remedial measures. These financial statements do not include any adjustments related to the recoverability and classification of assets or the amounts and classification of liabilities that might be necessary should the Company become unable to continue as a going concern. |
SIGNIFICANT ACCOUNTING POLICIES
SIGNIFICANT ACCOUNTING POLICIES | 12 Months Ended |
Mar. 31, 2022 | |
Accounting Policies [Abstract] | |
SIGNIFICANT ACCOUNTING POLICIES | NOTE 3 – SIGNIFICANT ACCOUNTING POLICIES Emerging Growth Company The Company is an “emerging growth company,” as defined in Section 2(a) of the Securities Act, as modified by the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”), and it may take advantage of certain exemptions from various reporting requirements that are applicable to other public companies that are not emerging growth companies including, but not limited to, not being required to comply with the independent registered public accounting firm attestation requirements of Section 404 of the Sarbanes-Oxley Act, reduced disclosure obligations regarding executive compensation in its periodic reports and proxy statements, and exemptions from the requirements of holding a nonbinding advisory vote on executive compensation and stockholder approval of any golden parachute payments not previously approved. Further, Section 102(b)(1) of the JOBS Act exempts emerging growth companies from being required to comply with new or revised financial accounting standards until private companies (that is, those that have not had a Securities Act registration statement declared effective or do not have a class of securities registered under the Exchange Act) are required to comply with the new or revised financial accounting standards. The JOBS Act provides that a company can elect to opt out of the extended transition period and comply with the requirements that apply to non-emerging growth companies but any such election to opt out is irrevocable. The Company has elected not to opt out of such extended transition period which means that when a standard is issued or revised and it has different application dates for public or private companies, the Company, as an emerging growth company, can adopt the new or revised standard at the time private companies adopt the new or revised standard. This may make comparison of the Company’s financial statement with another public company which is neither an emerging growth company nor an emerging growth company which has opted out of using the extended transition period difficult or impossible because of the potential differences in accounting standards used. Basis of Presentation and Use of Estimates These financial statements have been prepared in accordance with U.S. GAAP, which requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could ultimately differ from those estimates. The most significant estimate impacted these financial statements relates to the recovery of our inventories due to the limited shelf life. Cash and Cash Equivalents Cash and cash equivalents include highly liquid investments with original maturities of three months or less. Inventories Inventories are valued at the lower of cost and net realizable value with the cost being determined on a first-in, first-out basis (FIFO) cost method. During the year ended March 31, 2021, the Company recorded an impairment of inventories totaling $245,563. At March 31, 2022 and 2021, there is no inventory. Website Expenditures related to the planning and operation of the Company’s website are expensed as incurred. Expenditures related to the website application and infrastructure development are capitalized and amortized over the website’s estimated useful life of three (3) years. Amortization expense for the years ended March 31, 2022 and 2021 was $3,529 and $4,661, respectively. Impairment of Long-Lived Assets The long-lived assets held and used by the Company are reviewed for impairment annually or whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. In the event that facts and circumstances indicate that the carrying amount of any long-lived asset may be impaired, an evaluation of recoverability is performed. There were no impairment losses during the years ended March 31, 2022 and 2021. Revenue Recognition The Company will record revenue under ASC 606, by 1) identifying the contract with the customer 2) identifying the performance obligations in the contract 3) determining the transaction price, 4) allocating the transaction price to the required performance obligations in the contract, and 5) recognizing revenue when or as the companies satisfies a performance obligation. We expect to generate revenue from home care service providers that are funded by the U.S. Government. The Company will defer revenue where the earnings process is not yet complete. To date, no revenue has been generated from the asset acquisition. Share-Based Payments The Company recognizes the cost of share-based payment awards on a straight-line attribution basis over the requisite employee service period and over the non-employee’s period of providing goods or services, net of estimated forfeitures. Determining the fair value of share-based awards at the measurement date requires judgment, including estimating the expected term that stock options will be outstanding prior to exercise and the associated volatility. The Company estimates the fair value of options granted using the Black-Scholes valuation model. The expected life of the options used in this calculation is the period of time the options are expected to be outstanding. Expected stock price volatility is based on the historical volatility of the Company’s stock for a period approximating the expected life, and the risk-free interest rate is based on the implied yield available on US Treasury zero-coupon issues approximating the expected life. Judgment is also required in estimating the amount of share-based awards that will be forfeited prior to vesting. The fair value of restricted stock awards is based on the par value of the Company’s common stock on the date of grant. Income Taxes Certain income and expense items are accounted for differently for financial reporting and income tax purposes. Deferred income tax assets and liabilities are determined based on the difference between the financial statement and tax bases of assets and liabilities, applying enacted statutory income tax rates in effect for the year in which the differences are expected to reverse. A valuation allowance is established, when necessary, to reduce deferred tax assets to the amount expected to be realized. Basic and Diluted Income (Loss) Per Share Basic income (loss) per common share is computed by dividing net income (loss) available to common stockholders by the weighted average number of common shares outstanding. Diluted income (loss) per common share is computed similar to basic income (loss) per common share except that the denominator is increased to include the number of additional common shares that would have been outstanding if the potential common shares had been issued and if the additional common shares were dilutive. Diluted earnings per share is not shown for periods in which the Company incurs a loss because it would be anti-dilutive. Fair Value of Financial Instruments Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants as of the measurement date. Applicable accounting guidance provides an established hierarchy for inputs used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available. Observable inputs are inputs that market participants would use in valuing the asset or liability and are developed based on market data obtained from sources independent of the Company. Unobservable inputs are inputs that reflect the Company’s assumptions about the factors that market participants would use in valuing the asset or liability. There are three levels of inputs that may be used to measure fair value: • Level 1 - Observable inputs that reflect quoted prices (unadjusted) for identical assets or liabilities in active markets. • Level 2 - Includes other inputs that are directly or indirectly observable in the marketplace. • Level 3 - Unobservable inputs which are supported by little or no market activity. The Company’s financial instruments include accounts payable and accrued compensation. The carrying value of these instruments approximate their fair value because of their short-term nature. Foreign Currency Translation and Transactions The financial statements are presented in U.S. dollars. Foreign-denominated monetary assets and liabilities are translated to their U.S. dollar equivalents using foreign exchange rates at the balance sheet date. Revenue and expenses are translated at average rates of exchange during the period. Related translation adjustments are reported as a separate component of stockholders’ equity, whereas gains or losses resulting from foreign currency transactions are included in the results of operations. Recent Accounting Pronouncements The Financial Accounting Standards Board Issues Accounting Standards Updates (“ASU”) to amend the authoritative literature in the Accounting Standards Codification (“ASC”). There have been a number of ASUs to date that amend the original text of the ASC. The Company believes those updates issued-to-date either (i) provide supplemental guidance, (ii) are technical corrections, (iii) are not applicable to the Company, or (iv) are not expected to have a significant impact on the Company. The following are recent accounting pronouncements which may impact the Company: In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842), specifying the accounting for leases, which supersedes the leases requirements in Topic 840, Leases. The objective of Topic 842 is to establish the principles that lessees and lessors shall apply to report useful information to users of financial statements about the amount, timing, and uncertainty of cash flows arising from a lease. Lessees are permitted to make an accounting policy election to not recognize the asset and liability for leases with a term of twelve months or less. Lessors’ accounting is largely unchanged from the previous accounting standard. In addition, Topic 842 expands the disclosure requirements of lease arrangements. Lessees and lessors will use a modified retrospective transition approach, which includes several practical expedients. This guidance is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2018, with early adoption permitted. The Company has adopted the provisions of the new standard, but it has not had an impact on the Company as it does not have any leases. |
ACCRUED LIABILITIES
ACCRUED LIABILITIES | 12 Months Ended |
Mar. 31, 2022 | |
Payables and Accruals [Abstract] | |
ACCRUED LIABILITIES | NOTE 4 – ACCRUED LIABILITIES Accrued compensation consists of the following: Schedule of Accrued Liabilities March 31, 2022 March 31, 2021 Salaries and benefits payable $ 212,000 $ 212,000 Payroll taxes payable 9,192 9,192 Total accrued compensation $ 221,192 $ 221,192 Other accrued liabilities consist of the following: Schedule of Other Accrued Liabilities March 31, 2022 March 31, 2021 Accrued other $ 12,000 $ 12,500 Accrued administration expenses 4,919 — Accrued interest 74,748 58,503 Total accrued liabilities $ 91,667 $ 71,003 |
RELATED PARTY TRANSACTIONS
RELATED PARTY TRANSACTIONS | 12 Months Ended |
Mar. 31, 2022 | |
Related Party Transactions [Abstract] | |
RELATED PARTY TRANSACTIONS | NOTE 5 – RELATED PARTY TRANSACTIONS The Company purchased assets from the Company’s current Chief Executive Officer (“CEO”) and Secretary/Treasurer. On November 15, 2021, the Company entered into an Asset Purchase Agreement in which the Company purchased certain intellectual property in exchange for 150,000,000 shares of the Company’s common stock and up to $10,000,000 in contingent consideration to be paid at the rate of 15% of all gross revenues received from sales or investment money into the Company, payable on the 15th of the following month, for a period of 60 months. The Company received all rights and title to proprietary wound healing technologies platforms and formulas involving the application of wound care protocols to treat all wounds, such as diabetic ulcers, pressure ulcers, burns and surgical wounds. These unique products strategically position the Company to enter and capture a high proportionate market share in the U.S. The Technology Platforms include but are not limited to: A. Proteomic research platforms which include proprietary blends. B. Combination design Techniques C. Patent Pending Proprietary Blends D. Patent Pending Formulas E. Trademarks and all pending Trademarks F. 510K USA FDA, information and Know-how for application G. All Clinical trials, (Right to use) H. CE mark (International) I. Regenerex Library formula incorporated in the Wound Healing Technology. J. Wound Healing Technology QBX K. Synthetic Compositions of Cations derived from botanical material in the ash of Red- Oak Bark. Products: 1. Xcellderma over the counter product. 2. Accelerex, combination product as a drug device. 3. Accelerex in a tube. Related Party Advances The Company’s former Chief Financial Officer (“CFO”) advanced $695 and $0 to the Company during the years ended March 31, 2022 and 2021, respectively, to pay for operating expenses. The related-party advances totaled $131,687 and $130,992 as of March 31, 2022 and March 31, 2021, respectively. The advances are due on demand. The related party advances began to accrue interest at ten (10) percent per annum on July 1, 2019. Repayment is due no later than June 30, 2023. Interest expense was $13,120 and $13,099 during the years ended March 31, 2022, and March 31, 2021, respectively, which is included in other accrued liabilities. |
NOTES PAYABLE TO SHAREHOLDER
NOTES PAYABLE TO SHAREHOLDER | 12 Months Ended |
Mar. 31, 2022 | |
Debt Disclosure [Abstract] | |
NOTES PAYABLE TO SHAREHOLDER | NOTE 6 – NOTES PAYABLE TO SHAREHOLDER During the year ended March 31, 2019, a shareholder of the Company was issued a promissory note in the principal amount of $70,000. The note was unsecured and bore interest at ten (10) percent, per annum. This note was reissued on February 19, 2021 in the principal amount of $83,838 which included the original principal of $70,000 plus interest accrued as at February 19, 2021 in the amount of $13,838. Repayment of the note is due no later than February 19, 2023. During the year ended March 31, 2020, a shareholder was issued eight (8) additional promissory notes totaling $214,091. The notes were reissued during the year ended March 31, 2022 in the principal amount of $266,921 which included the original principal plus interest accrued. They are unsecured and bear interest at ten (10) percent per annum with principal and interest due 24 months after the date of issue. During the year ended March 31, 2021, a shareholder was issued additional 23 promissory notes totaling $66,660. These notes are unsecured and bear interest at ten (10) percent per annum with principal and interest due 24 months after the date of issue. During the year ended March 31, 2022, a shareholder was issued additional nine (9) promissory notes totaling $73,565. These notes are unsecured and bear interest at ten (10) percent per annum with principal and interest due 24 months after the date of issue. Future annual minimum principal only payments for shareholders notes are as follows: Future Minimum Principal Payments On The Notes Payable March 31 2023 2024 Principal $ 152,880 340,486 Aggregate interest expense was $42,677 and $29,806 during the years ended March 31, 2022 and 2021, which is included in other accrued liabilities at March 31, 2021 and 2020, respectively. |
COMMON STOCK
COMMON STOCK | 12 Months Ended |
Mar. 31, 2022 | |
Equity [Abstract] | |
COMMON STOCK | NOTE 7 – COMMON STOCK The Company has authorized the issuance of 675,000,000 shares of common stock with a par value of $0.001 per share. During the year ended March 31, 2022, Irene Getty, who resigned as a member of the Board of Directors, transferred 45,000,000 shares of common stock with an estimated fair value of $45,000 to Gregory Pilant and Deborah Pilant upon their appointment as Directors and Officers of the Company. Irene Getty continues to be the Chief Financial Officer of the Company. Irene Getty was a significant shareholder owning more than 10% of the shares outstanding at the time. The Company recognized stock-based compensation of $45,000 within general and administrative expenses in the accompanying statement of operations related to this transfer of shares. |
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES | 12 Months Ended |
Mar. 31, 2022 | |
Income Tax Disclosure [Abstract] | |
COMMITMENTS AND CONTINGENCIES | NOTE 8 – INCOME TAXES Income tax expense differs from the amount that would result from applying the federal income tax rate to earnings before income taxes. Reconciliations of the U.S. federal statutory rate to the actual tax rate are as follows for the years ended March 31, 2022 and 2021: Reconciliation Of The Income Tax Provision 2022 2021 Federal tax benefit at statutory rate 21.0 % 21.0 % Permanent differences -4.8 % 0.0 % Temporary differences Provision for write down of inventory 0.0 % -14.6 % Accounts payable and accrued liabilities 3.8 % 0.2 % Other -0.5 % -0.2 % Change in valuation allowance -19.5 % -6.4 % Change in effective tax rate 0.0 % 0.0 % Total provision 0.0 % 0.0 % The composition of the Company’s deferred tax assets as of March 31, 2022 and 2021 is as follows: Deferred Income Tax Assets And Liabilities Asset (Liability) 2022 2021 Other $ 16,700 $ 10,100 Inventory allowance — 51,600 Net operating loss carryforwards 314,200 231,000 Valuation allowance (330,900 ) (292,700 ) Net deferred tax asset $ — $ — The valuation allowance increased by $38,200 and $22,700 during the years ended March 31, 2022 and March 31, 2021 respectively. The Company had a net operating loss carryforward balance of approximately $1,500,000 as of March 31, 2022. The Company’s net operating losses have expiration dates ranging from 2024 to 2037 . Net operating loss carryforwards generated in 2018 and later have indefinite carryforward periods. The future utilization of the net operating losses may potentially be impacted by IRS Section 382 limitations as a result of the significant change in ownership resulting from the November 15, 2021 Asset Purchase Agreement discussed in Note 5. The Company’s recognized and unrecognized deferred tax assets related to unused tax losses. A full valuation allowance has been recorded against the potential deferred tax assets associated with all the loss carryforwards as their utilization is not considered “more likely than not” at this time. The Company has recently filed its US federal income tax returns. The Company’s Federal tax filings are subject to audit since 2016. The Company does not have an ongoing IRS examination. NOTE 9 – COMMITMENTS AND CONTINGENCIES The Company is not currently involved with and does not have knowledge of any pending or threatened litigation against the Company or any of its officers. See Note 5 for discussion of the $10,000,000 in contingent consideration to be paid in connection with the November 15, 2021 Asset Purchase Agreement. To date no amounts have been payable under this agreement. |
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS | 12 Months Ended |
Mar. 31, 2022 | |
Subsequent Events [Abstract] | |
SUBSEQUENT EVENTS | NOTE 10 – SUBSEQUENT EVENTS On May 3, 2022, a shareholder of the Company was issued a promissory note in the principal amount of $6,500. The note is unsecured and bears interest at ten (10) percent, per annum with principal and interest due 24 months after the date of issue. On May 20, 2020 a shareholder of the Company was issued a promissory note in the principal amount of approximately $7,100 ($10,000 Canadian Funds). This note was reissued on May 20, 2022 in the principal amount of $9,346 ($12,000 Canadian Funds) which included the original principal of approximately $7,100 ($10,000 Canadian Funds) plus interest accrued as at May 20, 2022 in the amount of approximately $1,400 ($2,000 Canadian Funds). The note is unsecured and bears interest at ten (10) percent per annum. Repayment of the note is due no later than May 20, 2024. On June 23, 2022, a shareholder of the Company was issued a promissory note in the principal amount of $27,500. The note is unsecured and bears interest at ten (10) percent, per annum with principal and interest due 24 months after the date of issue. |
SIGNIFICANT ACCOUNTING POLICI_2
SIGNIFICANT ACCOUNTING POLICIES (Policies) | 12 Months Ended |
Mar. 31, 2022 | |
Accounting Policies [Abstract] | |
Emerging Growth Company | Emerging Growth Company The Company is an “emerging growth company,” as defined in Section 2(a) of the Securities Act, as modified by the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”), and it may take advantage of certain exemptions from various reporting requirements that are applicable to other public companies that are not emerging growth companies including, but not limited to, not being required to comply with the independent registered public accounting firm attestation requirements of Section 404 of the Sarbanes-Oxley Act, reduced disclosure obligations regarding executive compensation in its periodic reports and proxy statements, and exemptions from the requirements of holding a nonbinding advisory vote on executive compensation and stockholder approval of any golden parachute payments not previously approved. Further, Section 102(b)(1) of the JOBS Act exempts emerging growth companies from being required to comply with new or revised financial accounting standards until private companies (that is, those that have not had a Securities Act registration statement declared effective or do not have a class of securities registered under the Exchange Act) are required to comply with the new or revised financial accounting standards. The JOBS Act provides that a company can elect to opt out of the extended transition period and comply with the requirements that apply to non-emerging growth companies but any such election to opt out is irrevocable. The Company has elected not to opt out of such extended transition period which means that when a standard is issued or revised and it has different application dates for public or private companies, the Company, as an emerging growth company, can adopt the new or revised standard at the time private companies adopt the new or revised standard. This may make comparison of the Company’s financial statement with another public company which is neither an emerging growth company nor an emerging growth company which has opted out of using the extended transition period difficult or impossible because of the potential differences in accounting standards used. |
Basis of Presentation and Use of Estimates | Basis of Presentation and Use of Estimates These financial statements have been prepared in accordance with U.S. GAAP, which requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could ultimately differ from those estimates. The most significant estimate impacted these financial statements relates to the recovery of our inventories due to the limited shelf life. |
Cash and Cash Equivalents | Cash and Cash Equivalents Cash and cash equivalents include highly liquid investments with original maturities of three months or less. |
Inventories | Inventories Inventories are valued at the lower of cost and net realizable value with the cost being determined on a first-in, first-out basis (FIFO) cost method. During the year ended March 31, 2021, the Company recorded an impairment of inventories totaling $245,563. At March 31, 2022 and 2021, there is no inventory. |
Website | Website Expenditures related to the planning and operation of the Company’s website are expensed as incurred. Expenditures related to the website application and infrastructure development are capitalized and amortized over the website’s estimated useful life of three (3) years. Amortization expense for the years ended March 31, 2022 and 2021 was $3,529 and $4,661, respectively. |
Impairment of Long-Lived Assets | Impairment of Long-Lived Assets The long-lived assets held and used by the Company are reviewed for impairment annually or whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. In the event that facts and circumstances indicate that the carrying amount of any long-lived asset may be impaired, an evaluation of recoverability is performed. There were no impairment losses during the years ended March 31, 2022 and 2021. |
Revenue Recognition | Revenue Recognition The Company will record revenue under ASC 606, by 1) identifying the contract with the customer 2) identifying the performance obligations in the contract 3) determining the transaction price, 4) allocating the transaction price to the required performance obligations in the contract, and 5) recognizing revenue when or as the companies satisfies a performance obligation. We expect to generate revenue from home care service providers that are funded by the U.S. Government. The Company will defer revenue where the earnings process is not yet complete. To date, no revenue has been generated from the asset acquisition. |
Share-Based Payments | Share-Based Payments The Company recognizes the cost of share-based payment awards on a straight-line attribution basis over the requisite employee service period and over the non-employee’s period of providing goods or services, net of estimated forfeitures. Determining the fair value of share-based awards at the measurement date requires judgment, including estimating the expected term that stock options will be outstanding prior to exercise and the associated volatility. The Company estimates the fair value of options granted using the Black-Scholes valuation model. The expected life of the options used in this calculation is the period of time the options are expected to be outstanding. Expected stock price volatility is based on the historical volatility of the Company’s stock for a period approximating the expected life, and the risk-free interest rate is based on the implied yield available on US Treasury zero-coupon issues approximating the expected life. Judgment is also required in estimating the amount of share-based awards that will be forfeited prior to vesting. The fair value of restricted stock awards is based on the par value of the Company’s common stock on the date of grant. |
Income Taxes | Income Taxes Certain income and expense items are accounted for differently for financial reporting and income tax purposes. Deferred income tax assets and liabilities are determined based on the difference between the financial statement and tax bases of assets and liabilities, applying enacted statutory income tax rates in effect for the year in which the differences are expected to reverse. A valuation allowance is established, when necessary, to reduce deferred tax assets to the amount expected to be realized. |
Basic and Diluted Income (Loss) Per Share | Basic and Diluted Income (Loss) Per Share Basic income (loss) per common share is computed by dividing net income (loss) available to common stockholders by the weighted average number of common shares outstanding. Diluted income (loss) per common share is computed similar to basic income (loss) per common share except that the denominator is increased to include the number of additional common shares that would have been outstanding if the potential common shares had been issued and if the additional common shares were dilutive. Diluted earnings per share is not shown for periods in which the Company incurs a loss because it would be anti-dilutive. |
Fair Value of Financial Instruments | Fair Value of Financial Instruments Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants as of the measurement date. Applicable accounting guidance provides an established hierarchy for inputs used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available. Observable inputs are inputs that market participants would use in valuing the asset or liability and are developed based on market data obtained from sources independent of the Company. Unobservable inputs are inputs that reflect the Company’s assumptions about the factors that market participants would use in valuing the asset or liability. There are three levels of inputs that may be used to measure fair value: • Level 1 - Observable inputs that reflect quoted prices (unadjusted) for identical assets or liabilities in active markets. • Level 2 - Includes other inputs that are directly or indirectly observable in the marketplace. • Level 3 - Unobservable inputs which are supported by little or no market activity. The Company’s financial instruments include accounts payable and accrued compensation. The carrying value of these instruments approximate their fair value because of their short-term nature. |
Foreign Currency Translation and Transactions | Foreign Currency Translation and Transactions The financial statements are presented in U.S. dollars. Foreign-denominated monetary assets and liabilities are translated to their U.S. dollar equivalents using foreign exchange rates at the balance sheet date. Revenue and expenses are translated at average rates of exchange during the period. Related translation adjustments are reported as a separate component of stockholders’ equity, whereas gains or losses resulting from foreign currency transactions are included in the results of operations. |
Recent Accounting Pronouncements | Recent Accounting Pronouncements The Financial Accounting Standards Board Issues Accounting Standards Updates (“ASU”) to amend the authoritative literature in the Accounting Standards Codification (“ASC”). There have been a number of ASUs to date that amend the original text of the ASC. The Company believes those updates issued-to-date either (i) provide supplemental guidance, (ii) are technical corrections, (iii) are not applicable to the Company, or (iv) are not expected to have a significant impact on the Company. The following are recent accounting pronouncements which may impact the Company: In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842), specifying the accounting for leases, which supersedes the leases requirements in Topic 840, Leases. The objective of Topic 842 is to establish the principles that lessees and lessors shall apply to report useful information to users of financial statements about the amount, timing, and uncertainty of cash flows arising from a lease. Lessees are permitted to make an accounting policy election to not recognize the asset and liability for leases with a term of twelve months or less. Lessors’ accounting is largely unchanged from the previous accounting standard. In addition, Topic 842 expands the disclosure requirements of lease arrangements. Lessees and lessors will use a modified retrospective transition approach, which includes several practical expedients. This guidance is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2018, with early adoption permitted. The Company has adopted the provisions of the new standard, but it has not had an impact on the Company as it does not have any leases. |
COMMITMENTS AND CONTINGENCIES (
COMMITMENTS AND CONTINGENCIES (Policies) | 12 Months Ended |
Mar. 31, 2022 | |
Income Tax Disclosure [Abstract] | |
NOTE 9 – COMMITMENTS AND CONTINGENCIES | NOTE 9 – COMMITMENTS AND CONTINGENCIES The Company is not currently involved with and does not have knowledge of any pending or threatened litigation against the Company or any of its officers. See Note 5 for discussion of the $10,000,000 in contingent consideration to be paid in connection with the November 15, 2021 Asset Purchase Agreement. To date no amounts have been payable under this agreement. |
ACCRUED LIABILITIES (Tables)
ACCRUED LIABILITIES (Tables) | 12 Months Ended |
Mar. 31, 2022 | |
Payables and Accruals [Abstract] | |
Schedule of Accrued Liabilities | Schedule of Accrued Liabilities March 31, 2022 March 31, 2021 Salaries and benefits payable $ 212,000 $ 212,000 Payroll taxes payable 9,192 9,192 Total accrued compensation $ 221,192 $ 221,192 |
Schedule of Other Accrued Liabilities | Schedule of Other Accrued Liabilities March 31, 2022 March 31, 2021 Accrued other $ 12,000 $ 12,500 Accrued administration expenses 4,919 — Accrued interest 74,748 58,503 Total accrued liabilities $ 91,667 $ 71,003 |
NOTES PAYABLE TO SHAREHOLDER (T
NOTES PAYABLE TO SHAREHOLDER (Tables) | 12 Months Ended |
Mar. 31, 2022 | |
Debt Disclosure [Abstract] | |
Future Minimum Principal Payments On The Notes Payable | Future Minimum Principal Payments On The Notes Payable March 31 2023 2024 Principal $ 152,880 340,486 |
COMMITMENTS AND CONTINGENCIES_2
COMMITMENTS AND CONTINGENCIES (Tables) | 12 Months Ended |
Mar. 31, 2022 | |
Income Tax Disclosure [Abstract] | |
Reconciliation Of The Income Tax Provision | Reconciliation Of The Income Tax Provision 2022 2021 Federal tax benefit at statutory rate 21.0 % 21.0 % Permanent differences -4.8 % 0.0 % Temporary differences Provision for write down of inventory 0.0 % -14.6 % Accounts payable and accrued liabilities 3.8 % 0.2 % Other -0.5 % -0.2 % Change in valuation allowance -19.5 % -6.4 % Change in effective tax rate 0.0 % 0.0 % Total provision 0.0 % 0.0 % |
Deferred Income Tax Assets And Liabilities | Deferred Income Tax Assets And Liabilities Asset (Liability) 2022 2021 Other $ 16,700 $ 10,100 Inventory allowance — 51,600 Net operating loss carryforwards 314,200 231,000 Valuation allowance (330,900 ) (292,700 ) Net deferred tax asset $ — $ — |
NATURE OF OPERATIONS (Details N
NATURE OF OPERATIONS (Details Narrative) - USD ($) | 12 Months Ended | |
Mar. 31, 2022 | Nov. 15, 2021 | |
Entity Incorporation, Date of Incorporation | Nov. 18, 2005 | |
Asset Acquisition, Contingent Consideration, Liability | $ 10,000,000 | |
Purchase Intellectual Property [Member] | ||
Shares, Issued | 150,000,000 |
GOING CONCERN (Details Narrativ
GOING CONCERN (Details Narrative) - USD ($) | Mar. 31, 2022 | Mar. 21, 2021 |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ||
Retained Earnings (Accumulated Deficit) | $ 1,934,693 | $ 1,739,102 |
[custom:CurrentLiabilitiesInExcessOfCurrentAssets-0] | $ 652,557 |
SIGNIFICANT ACCOUNTING POLICI_3
SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) - USD ($) | 12 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Accounting Policies [Abstract] | ||
Asset Impairment Charges | $ 245,563 | |
Finite-Lived Intangible Asset, Useful Life | 3 years | 3 years |
Amortization of Intangible Assets | $ 3,529 | $ 4,661 |
Impairment, Long-Lived Asset, Held-for-Use | $ 0 | $ 0 |
Schedule of Accrued Liabilities
Schedule of Accrued Liabilities (Details) - USD ($) | Mar. 31, 2022 | Mar. 21, 2021 |
Payables and Accruals [Abstract] | ||
Salaries and benefits payable | $ 212,000 | $ 212,000 |
Payroll taxes payable | 9,192 | 9,192 |
Total accrued compensation | $ 221,192 | $ 221,192 |
Schedule of Other Accrued Liabi
Schedule of Other Accrued Liabilities (Details) - USD ($) | Mar. 31, 2022 | Mar. 21, 2021 |
Payables and Accruals [Abstract] | ||
Accrued other | $ 12,000 | $ 12,500 |
Accrued administration expenses | 4,919 | |
Accrued interest | 74,748 | 58,503 |
Total accrued liabilities | $ 91,667 | $ 71,003 |
RELATED PARTY TRANSACTIONS (Det
RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($) | 1 Months Ended | 12 Months Ended | ||
Nov. 15, 2021 | Mar. 31, 2022 | Mar. 31, 2021 | Mar. 21, 2021 | |
Related Party Transaction [Line Items] | ||||
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares | 150,000,000 | |||
Business Combination, Contingent Consideration Arrangements, Description | up to $10,000,000 in contingent consideration to be paid at the rate of 15% of all gross revenues received from sales or investment money into the Company, payable on the 15th of the following month, for a period of 60 months | |||
Due to Related Parties, Current | $ 131,687 | $ 130,992 | ||
Related Party Transaction, Rate | 10% | 10% | ||
Interest Expense, Related Party | $ 13,120 | $ 13,099 | ||
Chief Executive Officer [Member] | ||||
Related Party Transaction [Line Items] | ||||
Due to Related Parties, Current | $ 695 | $ 0 |
Future Minimum Principal Paymen
Future Minimum Principal Payments On The Notes Payable (Details) - USD ($) | Mar. 31, 2024 | Mar. 31, 2023 |
Debt Disclosure [Abstract] | ||
Principal | $ 340,486 | $ 152,880 |
NOTES PAYABLE TO SHAREHOLDER (D
NOTES PAYABLE TO SHAREHOLDER (Details Narrative) - USD ($) | 1 Months Ended | 12 Months Ended | |||||
May 03, 2022 | Jun. 23, 2022 | May 20, 2022 | Mar. 31, 2022 | Mar. 31, 2021 | Mar. 31, 2020 | Mar. 31, 2019 | |
Short-term Debt [Line Items] | |||||||
Debt Instrument, Face Amount | $ 6,500 | $ 27,500 | $ 7,100 | ||||
Debt Instrument, Interest Rate, Stated Percentage | 10% | 10% | 10% | ||||
Debt Instrument, Repurchase Date | May 20, 2022 | Mar. 31, 2022 | |||||
Debt Instrument, Repurchase Amount | $ 9,346 | ||||||
Debt Instrument, Repurchased Face Amount | $ 7,100 | ||||||
Debt Instrument, Maturity Date, Description | with principal and interest due 24 months after the date of issue | due 24 months after the date of issue | Repayment of the note is due no later than May 20, 2024 | ||||
Accounts Payable, Interest-bearing | $ 42,677 | $ 29,806 | |||||
Promissory Notes 2019 [Member] | |||||||
Short-term Debt [Line Items] | |||||||
Debt Instrument, Face Amount | $ 70,000 | ||||||
Debt Instrument, Interest Rate, Stated Percentage | 10% | ||||||
Debt Instrument, Repurchase Date | Feb. 19, 2021 | ||||||
Debt Instrument, Repurchase Amount | $ 83,838 | ||||||
Debt Instrument, Repurchased Face Amount | 70,000 | ||||||
Interest Expense, Debt | $ 13,838 | ||||||
Debt Instrument, Maturity Date, Description | Repayment of the note is due no later than February 19, 2023 | ||||||
Promissory Notes 2020 [Member] | |||||||
Short-term Debt [Line Items] | |||||||
Debt Instrument, Face Amount | $ 214,091 | ||||||
Debt Instrument, Interest Rate, Stated Percentage | 10% | ||||||
Debt Instrument, Repurchase Amount | $ 266,921 | ||||||
Debt Instrument, Maturity Date, Description | due 24 months after the date of issue | ||||||
Debt Instrument, Description | issued eight (8) additional promissory notes | ||||||
Promissory Notes 2021 [Member] | |||||||
Short-term Debt [Line Items] | |||||||
Debt Instrument, Face Amount | $ 66,660 | ||||||
Debt Instrument, Maturity Date, Description | due 24 months after the date of issue | ||||||
Debt Instrument, Description | issued additional 23 promissory notes | ||||||
Promissory Notes 2022 [Member] | |||||||
Short-term Debt [Line Items] | |||||||
Debt Instrument, Face Amount | $ 73,565 | ||||||
Debt Instrument, Interest Rate, Stated Percentage | 10% | ||||||
Debt Instrument, Maturity Date, Description | due 24 months after the date of issue | ||||||
Debt Instrument, Description | issued additional nine (9) promissory notes |
COMMON STOCK (Details Narrative
COMMON STOCK (Details Narrative) - USD ($) | 12 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Equity [Abstract] | ||
Common Stock, Shares Authorized | 675,000,000 | 675,000,000 |
Common Stock, Par or Stated Value Per Share | $ 0.001 | $ 0.001 |
[custom:SharesTransferred] | 45,000,000 | |
[custom:SharesTransferredEstimatedFairValue] | $ 45,000 | |
Share-based Payment Arrangement, Noncash Expense | $ 45,000 |
Reconciliation Of The Income Ta
Reconciliation Of The Income Tax Provision (Details) | 12 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Income Tax Disclosure [Abstract] | ||
Federal tax benefit at statutory rate | 21% | 21% |
Permanent differences | (4.80%) | 0% |
Provision for write down of inventory | 0% | (14.60%) |
Accounts payable and accrued liabilities | 3.80% | 0.20% |
Other | (0.50%) | (0.20%) |
Change in valuation allowance | (19.50%) | (6.40%) |
Change in effective tax rate | 0% | 0% |
Total provision | 0% | 0% |
Deferred Income Tax Assets And
Deferred Income Tax Assets And Liabilities (Details) - USD ($) | Mar. 31, 2022 | Mar. 21, 2021 |
Income Tax Disclosure [Abstract] | ||
Other | $ 16,700 | $ 10,100 |
Inventory allowance | 51,600 | |
Net operating loss carryforwards | 314,200 | 231,000 |
Valuation allowance | (330,900) | (292,700) |
Net deferred tax asset |
COMMITMENTS AND CONTINGENCIES_3
COMMITMENTS AND CONTINGENCIES (Details Narrative) - USD ($) | 12 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Significant Change in Unrecognized Tax Benefits is Reasonably Possible [Line Items] | ||
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount | $ 38,200 | $ 22,700 |
Operating Loss Carryforwards, Valuation Allowance | $ 1,500,000 | |
Minimum [Member] | ||
Significant Change in Unrecognized Tax Benefits is Reasonably Possible [Line Items] | ||
[custom:OperatingLossCarryforwardsExpirationDateYear] | 2024 | |
Maximum [Member] | ||
Significant Change in Unrecognized Tax Benefits is Reasonably Possible [Line Items] | ||
[custom:OperatingLossCarryforwardsExpirationDateYear] | 2037 |
SUBSEQUENT EVENTS (Details Narr
SUBSEQUENT EVENTS (Details Narrative) - USD ($) | 1 Months Ended | 12 Months Ended | ||
May 03, 2022 | Jun. 23, 2022 | May 20, 2022 | Mar. 31, 2020 | |
Subsequent Events [Abstract] | ||||
Debt Instrument, Issuance Date | May 03, 2022 | Jun. 23, 2022 | May 20, 2020 | |
Debt Instrument, Face Amount | $ 6,500 | $ 27,500 | $ 7,100 | |
Debt Instrument, Interest Rate, Stated Percentage | 10% | 10% | 10% | |
Debt Instrument, Maturity Date, Description | with principal and interest due 24 months after the date of issue | due 24 months after the date of issue | Repayment of the note is due no later than May 20, 2024 | |
Debt Instrument, Repurchase Date | May 20, 2022 | Mar. 31, 2022 | ||
Debt Instrument, Repurchase Amount | $ 9,346 | |||
Debt Instrument, Repurchased Face Amount | 7,100 | |||
Debt Instrument, Increase, Accrued Interest | $ 1,400 |