Annual report pursuant to Section 13 and 15(d)

4. CONVERTIBLE NOTES PAYABLE (Tables)

v3.8.0.1
4. CONVERTIBLE NOTES PAYABLE (Tables)
12 Months Ended
Mar. 31, 2018
Convertible Notes Payable [Abstract]  
Convertible notes payable

Convertible Notes Payable, Net consisted of the following at March 31, 2018:

 

    Principal     Unamortized
Discount
    Net
Amount
    Accrued
Interest
 
Convertible Notes Payable, Net – Non-Current Portion:                                
November 2014 10% Convertible Notes (due July 1, 2019)   $ 612,811     $ (93,590 )   $ 519,221     $ 34,386  
December 2016 10% Convertible Notes (due July 1, 2019)     379,780       (57,848 )     321,932       21,315  
Total Convertible Notes Payable, Net   $ 992,591     $ (151,438 )   $ 841,153     $ 55,701  

  

Convertible Notes Payable, Net consisted of the following at March 31, 2017:

 

    Principal     Unamortized
Discount
    Net
Amount
    Accrued
Interest
 
Convertible Notes Payable, Net – Non-Current Portion:                                
November 2014 10% Convertible Notes (due July 1, 2019)   $ 612,811     $ (275,363 )   $ 337,448     $ 2,555  
December 2016 10% Convertible Notes (due July 1, 2019)     680,400       (498,648 )     181,752       2,836  
Total Convertible Notes Payable, Net   $ 1,293,211     $ (774,011 )   $ 519,200     $ 5,391  
Changes to principal balance of Convertible Note

The following table shows the changes to the principal balance of the November 2014 10% Convertible Notes: 

 

Activity in the November 2014 10% Convertible Notes
Initial principal balance   $ 527,780  
Increase in principal balance under the second amendment (see above)     165,031  
Conversions during the fiscal year ended March 31, 2017     (80,000 )
Balance as of March 31, 2017 & March 31, 2018   $ 612,811  

   

The following table shows the changes to the principal balance of the December 2016 10% Convertible Notes: 

 

Activity in the December 2016 10% Convertible Notes
Initial principal balance   $ 680,400  
Conversions during the fiscal year ended March 31, 2018     (300,620 )
Balance as of March 31, 2018   $ 379,780