Quarterly report pursuant to Section 13 or 15(d)

5. Convertible Notes Payable (Tables)

v3.10.0.1
5. Convertible Notes Payable (Tables)
3 Months Ended
Jun. 30, 2018
Debt Disclosure [Abstract]  
Convertible notes payable

Convertible Notes Payable, Net consisted of the following at June 30, 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     $ (74,797 )   $ 538,014     $ 49,706  
December 2016 10% Convertible Notes (due July 1, 2019)     379,780       (46,354 )     333,426       30,808  
Total Convertible Notes Payable, Net   $ 992,591     $ (121,151 )   $ 871,440     $ 80,514  

 

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  
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 June 30, 2018 and 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 June 30, 2018 and March 31, 2018   $ 379,780