Enxnet 10-Q 14 Nov 14 2014 Q2 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	6 Months Ended
	Sep. 30, 2014	Nov. 04, 2014
Document And Entity Information	'	'
Entity Registrant Name	'EnXNet Inc	'
Entity Central Index Key	'0001083706	'
Document Type	'10-Q	'
Document Period End Date	30-Sep-14	'
Amendment Flag	'false	'
Current Fiscal Year End Date	'--03-31	'
Is Entity a Well-known Seasoned Issuer?	'No	'
Is Entity a Voluntary Filer?	'No	'
Is Entity's Reporting Status Current?	'Yes	'
Entity Filer Category	'Smaller Reporting Company	'
Entity Common Stock, Shares Outstanding	'	50,211,518
Document Fiscal Period Focus	'Q2	'
Document Fiscal Year Focus	'2014	'

Balance_Sheets_Unaudited

Balance Sheets (Unaudited) (USD $)	Sep. 30, 2014	Mar. 31, 2014
CURRENT ASSETS	'	'
Cash	$15,676	$23,439
Prepaid expenses	1,065	544
TOTAL CURRENT ASSETS	16,741	23,983
OTHER ASSETS	'	'
Patent technology, net	34,670	35,706
Deposits	1,137	1,137
TOTAL OTHER ASSETS	35,807	36,843
TOTAL ASSETS	52,548	60,826
CURRENT LIABILITIES	'	'
Accounts payable and accrued expenses	376,247	374,489
Accounts payable and accrued expenses - related party	180,425	173,068
Advances from officer - related party	12,500	12,500
Advances from stockholder	32,400	32,400
Convertible notes payable - stockholders	200,000	200,000
Convertible notes payable - related parties	829,118	829,118
TOTAL CURRENT LIABILITIES	1,630,690	1,621,575
STOCKHOLDERS DEFICIT	'	'
Common stock, $0.00005 par value; 200,000,000 shares authorized, 50,211,518 and 49,651,518 shares issued and outstanding	2,511	2,483
Additional paid-in capital	5,606,163	5,576,230
Accumulated deficit	-7,086,816	-7,039,462
Other comprehensive income	-100,000	-100,000
TOTAL STOCKHOLDERS DEFICIT	-1,578,142	-1,560,749
TOTAL LIABILITIES AND STOCKHOLDERS DEFICIT	$52,548	$60,826

Balance_Sheets_Parenthetical

Balance Sheets (Parenthetical) (USD $)	Sep. 30, 2014	Mar. 31, 2014
Statement of Financial Position [Abstract]	'	'
Common Stock, Par Value	$0.00	$0.00
Common Stock, Shares Authorized	200,000,000	200,000,000
Common Stock, Shares Issued	50,211,518	49,651,518
Common Stock, Shares Outstanding	50,211,518	49,651,518

Statements_of_Operations_Unaud

Statements of Operations (Unaudited) (USD $)	3 Months Ended		6 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Income Statement [Abstract]	'	'	'	'
REVENUES	'	'	'	'
COST OF SALES	'	'	'	'
Gross Profit	'	'	'	'
EXPENSES	'	'	'	'
Consulting fees	600	2,201	1,200	10,637
Depreciation & amortization	518	518	1,036	1,036
Payroll	2,487	7,999	7,063	23,848
Professional services	8,750	7,466	16,533	21,324
Occupancy	2,596	3,610	5,937	6,076
Office	70	1,156	511	2,371
Travel	624	347	1,189	649
Other	447	612	1,144	1,250
Total Expenses	16,092	23,909	34,613	67,191
LOSS FROM OPERATIONS	-16,092	-23,909	-34,613	-67,191
OTHER INCOME (EXPENSE)	'	'	'	'
Interest expense	-6,407	-6,204	-12,741	-12,340
NET LOSS	($22,499)	($30,113)	($47,354)	($79,531)
BASIC AND DILUTED NET LOSS PER SHARE	$0	$0	$0	$0
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING, BASIC AND DILUTED	50,121,518	48,790,648	49,791,902	48,581,026

Statements_of_Cash_Flows_Unaud

Statements of Cash Flows (Unaudited) (USD $)	6 Months Ended
	Sep. 30, 2014	Sep. 30, 2013
CASH FLOWS FROM OPERATING ACTIVITIES	'	'
Net loss	($47,354)	($79,531)
Adjustments to reconcile net loss to net cash used by operations:	'	'
Depreciation and amortization	1,036	1,036
Stock options expense	1,961	4,159
Changes in operating assets and liabilities:	'	'
Prepaid expenses	-521	-33
Accounts payable & accrued expenses	9,115	24,194
Net cash used in operating activities	-35,763	-50,175
CASH FLOWS FROM FINANCING ACTIVITIES	'	'
Proceeds from stock sales	28,000	46,000
Proceeds from advances from officer and stockholders	'	3,000
Repayment of advances from officer and stockholders	'	-1,000
Net cash provided by financing activities	28,000	48,000
NET INCREASE (DECREASE) IN CASH	-7,763	-2,175
CASH - Beginning of period	23,439	8,098
CASH - End of period	15,676	5,923
SUPPLEMENTAL CASH FLOW DISCLOSURES:	'	'
Interest expense	'	'
Income taxes	'	'

1_BASIS_OF_PRESENTATION

1. BASIS OF PRESENTATION	6 Months Ended
	Sep. 30, 2014
Accounting Policies [Abstract]	'
1. BASIS OF PRESENTATION	'
	NOTE 1 - BASIS OF PRESENTATION
	The accompanying unaudited financial statements of EnXnet, Inc. (“EnXnet” or “the Company”) for the six months ended September 30, 2014 have been prepared in accordance with generally accepted accounting principles in the United States of America, pursuant to the rules and regulations of the U.S. Securities and Exchange Commission for interim financial information. Accordingly, the financial statements do not include all information and footnotes required by generally accepted accounting principles in the United States for complete annual financial statements. In the opinion of management, the accompanying unaudited condensed interim financial statements reflect all adjustments, consisting of normal recurring adjustments, considered necessary for a fair presentation. The accompanying financial statements should be read in conjunction with the financial statements and notes thereto included in the Company’s March 31, 2014 Annual Report on Form 10-K.

2_GOING_CONCERN

2. GOING CONCERN	6 Months Ended
	Sep. 30, 2014
Organization, Consolidation and Presentation of Financial Statements [Abstract]	'
2. GOING CONCERN	'
	NOTE 2 – GOING CONCERN
	The Company has a working capital deficit and has incurred losses since inception. These factors raise substantial doubt about the Company’s ability to continue as a going concern.  The financial statements do not include any adjustments that may be necessary if the Company is unable to continue as a going concern.
	Management of the Company has undertaken certain actions to address these conditions.    Funds required to carry out management’s plans are expected to be derived from future stock sales and borrowings from outside parties. There can be no assurances that the Company will be successful in executing its plans.

3_ADVANCES_FROM_AND_NOTES_PAYA

3. ADVANCES FROM AND NOTES PAYABLE TO OFFICER	6 Months Ended
	Sep. 30, 2014
Related Party Transactions [Abstract]	'
3. ADVANCES FROM AND NOTES PAYABLE TO OFFICER	'
	NOTE 3 – ADVANCES FROM AND NOTES PAYABLE TO OFFICER
	Advances from a stockholder at both September 30, 2014 and March 31, 2014 were $32,400.
	The Company has notes payable to the CEO totaling $662,455 as of both September 30, 2014 and March 31, 2014. Accrued interest owed on these notes is $155,455 and $148,704. These notes and accrued interest are convertible into shares of common stock.
	An entity controlled by the CEO has made unsecured advances and notes payables to the Company. Advances and notes payable from the entity controlled by the CEO as of September 30, 2014 and March 31, 2013 is $160,250. Accrued interest owed on these notes was $23,179 and $22,090, respectively. These notes and accrued interest are convertible into shares of common stock.
	The Company has notes payable to the a stockholder totaling $6,413 as of both September 30, 2014 and March 31, 2014. Accrued interest owed on these notes is $784 and $720. These notes and accrued interest are convertible into shares of common stock.

4_COMMON_STOCK_TRANSACTIONS

4. COMMON STOCK TRANSACTIONS	6 Months Ended
	Sep. 30, 2014
STOCKHOLDERS DEFICIT	'
4. COMMON STOCK TRANSACTIONS	'
	NOTE 4 - COMMON STOCK TRANSACTIONS
	The Company sold 560,000 shares for $28,000 in cash during the six months ended September 30, 2014.

5_STOCK_OPTIONS

5. STOCK OPTIONS	6 Months Ended
	Sep. 30, 2014
STOCKHOLDERS DEFICIT	'
5. STOCK OPTIONS	'
	NOTE 5 – STOCK OPTIONS
	On July 24, 2001, the Company filed with the SEC Form S-8, for its 2002 Stock Option Plan, (the Plan). An aggregate amount of common stock that may be awarded and purchased under the Plan is 3,000,000 shares of the Company’s common stock. Under the Plan during the years ended March 31, 2013, the Company granted stock options to employees and members of the Board of Directors in the amount of 2,190,000. The Company recognized option expense of $1,961 due to the vesting of these options for the six months ended September 30, 2014.
	A summary of the status of the Company’s stock options as of September 30, 2014 is presented below:
		30-Sep-14
	Options outstanding at beginning of year		3,290,000
	Options granted		—
	Options exercised		—
	Options canceled		300,000
	Options outstanding at end of year		2,990,000
	The following table summarizes the information about the stock options as of September 30, 2014:
	Range of				Number	Weighted Average		Weighted Average	Number		Weighted Average
	Exercise Price				Outstanding	Remaining		Exercise Price	Exercisable		Exercise Price
						Contractual Life		(Total shares)			(Exercisable
						Years					shares)
			$	0.12	1,990,000	2.02	$	0.12	1,990,000	$	0.12
				0.25	200,000	0.75		0.25	200,000		0.25
				0.5	300,000	1.75		0.5	300,000		0.5
				0.15	500,000	2.15		0.15	500,000		0.15
			$	.12 – .50	2,990,000	1.93	$	0.17	2,990,000	$	0.15

5_STOCK_OPTIONS_Tables

5. STOCK OPTIONS (Tables)	6 Months Ended
	Sep. 30, 2014
STOCKHOLDERS DEFICIT	'
Summary of Company's Stock Options	'
		30-Sep-14
	Options outstanding at beginning of year		3,290,000
	Options granted		—
	Options exercised		—
	Options canceled		300,000
	Options outstanding at end of year		2,990,000
Stock Options Information	'
	Range of				Number	Weighted Average		Weighted Average	Number		Weighted Average
	Exercise Price				Outstanding	Remaining		Exercise Price	Exercisable		Exercise Price
						Contractual Life		(Total shares)			(Exercisable
						Years					shares)
			$	0.12	1,990,000	2.02	$	0.12	1,990,000	$	0.12
				0.25	200,000	0.75		0.25	200,000		0.25
				0.5	300,000	1.75		0.5	300,000		0.5
				0.15	500,000	2.15		0.15	500,000		0.15
			$	.12 – .50	2,990,000	1.93	$	0.17	2,990,000	$	0.15

3_ADVANCES_FROM_AND_NOTES_PAYA1

3. ADVANCES FROM AND NOTES PAYABLE TO OFFICER (Details Narrative) (USD $)	Sep. 30, 2014	Mar. 31, 2014
Advances from Stockholder	$32,400	$32,400
Notes Payable, Officer	662,455	662,455
Accrued Interest	155,455	148,704
CEO Entity [Member]	'	'
Notes Payable, Officer	160,250	160,250
Accrued Interest	23,179	22,090
Shareholder [Member]	'	'
Notes Payable, Officer	6,413	6,413
Accrued Interest	$784	$720

4_COMMON_STOCK_TRANSACTIONS_De

4. COMMON STOCK TRANSACTIONS (Details Narrative) (USD $)	6 Months Ended
	Sep. 30, 2014
STOCKHOLDERS DEFICIT	'
Stock issued for cash, Shares	560,000
Stock issued for cash, Value	$28,000

5_STOCK_OPTIONS_Summary_of_Com

5. STOCK OPTIONS - Summary of Company's Stock Options (Details) (USD $)	6 Months Ended	12 Months Ended
	Sep. 30, 2014	Mar. 31, 2014
STOCKHOLDERS DEFICIT	'	'
Options outstanding at beginning of year	3,290,000	'
Options granted	'	2,190,000
Options exercised	'	'
Options canceled	$300,000	'
Options outstanding at end of year	2,990,000	3,290,000

6_STOCK_OPTIONS_Stock_Option_I

6. STOCK OPTIONS - Stock Option Information (Details) (USD $)	6 Months Ended
	Sep. 30, 2014	Mar. 31, 2014
Exercise Price, Minimum	$0.12	'
Exercise Price, Maximum	$0.50	'
Number Outstanding	2,990,000	3,290,000
Weighted Average Remaining Contractual Life Years	'1 year 11 months	'
Weighted Average Exercise Price	$0.17	'
Number Exercisable	2,990,000	'
Weighted Average Exercise Price (Exercisable shares)	$0.15	'
Option 1 [Member]	'	'
Exercise Price, Minimum	$0.12	'
Number Outstanding	1,990,000	'
Weighted Average Remaining Contractual Life Years	'2 years	'
Weighted Average Exercise Price	$0.12	'
Number Exercisable	1,990,000	'
Weighted Average Exercise Price (Exercisable shares)	$0.12	'
Option 3 [Member]	'	'
Exercise Price, Minimum	$0.25	'
Number Outstanding	200,000	'
Weighted Average Remaining Contractual Life Years	'9 months	'
Weighted Average Exercise Price	$0.25	'
Number Exercisable	200,000	'
Weighted Average Exercise Price (Exercisable shares)	$0.25	'
Option 4 [Member]	'	'
Exercise Price, Minimum	$0.50	'
Number Outstanding	300,000	'
Weighted Average Remaining Contractual Life Years	'1 year 9 months	'
Weighted Average Exercise Price	$0.50	'
Number Exercisable	300,000	'
Weighted Average Exercise Price (Exercisable shares)	$0.50	'
Option 5 [Member]	'	'
Exercise Price, Minimum	$0.15	'
Number Outstanding	500,000	'
Weighted Average Remaining Contractual Life Years	'2 years 2 months	'
Weighted Average Exercise Price	$0.15	'
Number Exercisable	500,000	'
Weighted Average Exercise Price (Exercisable shares)	$0.15	'

5_STOCK_OPTIONS_Details_Narrat

5. STOCK OPTIONS (Details Narrative) (USD $)	6 Months Ended	12 Months Ended
	Sep. 30, 2014	Mar. 31, 2014
Other Liabilities Disclosure [Abstract]	'	'
Option Shares Authorized	'	3,000,000
Options, Shares Granted	'	2,190,000
Stock Option Expense	$1,961	'