Enxnet 10-K 14 Jul 15 2014 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Mar. 31, 2015	Jul. 08, 2015	Sep. 30, 2013
Document And Entity Information
Entity Registrant Name	ENXNET INC
Entity Central Index Key	1,083,706
Document Type	10-K
Document Period End Date	Mar. 31, 2015
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 Public Float			$ 1,190,682
Entity Common Stock, Shares Outstanding		52,601,518
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2,014

Balance Sheets

Balance Sheets - USD ($)	Mar. 31, 2015	Mar. 31, 2014
CURRENT ASSETS
Cash	$ 22,529	$ 23,439
Restricted cash	115,000
Prepaid expenses	559	$ 544
TOTAL CURRENT ASSETS	$ 138,088	23,983
OTHER ASSETS
Patent technology, net of accumulated amortization of $41,404 and $5,698 respectively		35,706
Deposits	$ 1,137	1,137
TOTAL OTHER ASSETS	1,137	36,843
TOTAL ASSETS	139,225	60,826
CURRENT LIABILITIES
Accounts payable and accrued expenses	567,865	547,557
Advances from officer - related party	20,500	12,500
Advances from stockholder	31,000	32,400
Convertible notes payable	325,000	200,000
Convertible notes payable - related party	835,101	829,118
TOTAL CURRENT LIABILITIES	1,779,466	1,621,575
STOCKHOLDERS DEFICIT
Common stock, $0.00005 par value; 200,000,000 shares authorized, 52,601,518 and 49,651,518 shares issued and outstanding	2,630	2,483
Additional paid-in capital	5,629,294	5,576,230
Accumulated deficit	(7,172,165)	(7,039,462)
Other comprehensive loss	(100,000)	(100,000)
TOTAL STOCKHOLDERS DEFICIT	(1,640,241)	(1,560,749)
TOTAL LIABILITIES AND STOCKHOLDERS DEFICIT	$ 139,225	$ 60,826

Balance Sheets (Parenthetical)

Balance Sheets (Parenthetical) - USD ($)	Mar. 31, 2015	Mar. 31, 2014
Statement of Financial Position [Abstract]
Accumulated Amortization	$ 41,404	$ 5,698
Common Stock, Par Value	$ 0.00005	$ 0.00005
Common Stock, Shares Authorized	200,000,000	200,000,000
Common Stock, Shares Issued	52,601,518	49,651,518
Common Stock, Shares Outstanding	52,601,518	49,651,518

Statements of Operations

Statements of Operations - USD ($)	12 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
EXPENSES
Consulting fees	$ 14,200	$ 29,410
Depreciation & amortization	35,706	2,072
Payroll	12,763	39,915
Professional services	23,568	39,123
Occupancy and office	11,929	18,913
Travel	1,922	3,876
Other	2,058	2,144
Total Expenses	102,146	135,453
LOSS FROM OPERATIONS	(102,146)	(135,453)
OTHER EXPENSE
Interest expense	(30,557)	(24,923)
NET LOSS	$ (132,703)	$ (160,376)
BASIC AND DILUTED NET LOSS PER SHARE	$ 0	$ 0
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING, BASIC AND DILUTED	50,727,902	49,278,367

Shareholders Equity

Shareholders Equity - USD ($)	Common Stock	Additional Paid-In Capital	Accumulated Deficit	Other Comprehensive Income	Total
Beginning Balance, Shares at Mar. 31, 2013	47,981,518
Beginning Balance, Value at Mar. 31, 2013	$ 2,399	$ 5,468,153	$ (6,879,086)	$ (100,000)	$ (1,508,534)
Stock issued for cash, shares	1,570,000				1,570,000
Stock issued for cash, value	$ 79	78,421			$ 78,500
Stock issued for services, shares	100,000				100,000
Stock issued for services, value	$ 5	4,995			$ 5,000
Stock options issued		$ 24,661			24,661
Net loss			$ (160,376)		(160,376)
Ending Balance, Shares at Mar. 31, 2014	49,651,518
Ending Balance, Value at Mar. 31, 2014	$ 2,483	$ 5,576,230	$ (7,039,462)	$ (100,000)	$ (1,560,749)
Stock issued for cash, shares	700,000				70,000
Stock issued for cash, value	$ 35	34,965			$ 35,000
Stock issued for services, shares	2,000,000				2,000,000
Stock issued for services, value	$ 100	11,900			$ 12,000
Stock issued for debt issue costs, Shares	250,000				250,000
Stock issued for debt issue costs, value	$ 12	4,238			$ 4,250
Stock options issued		$ 1,961			1,961
Net loss			$ (132,703)		(132,703)
Ending Balance, Shares at Mar. 31, 2015	52,601,518
Ending Balance, Value at Mar. 31, 2015	$ 2,630	$ 5,629,294	$ (7,172,165)	$ (100,000)	$ (1,640,241)

Statements of Cash Flows

Statements of Cash Flows - USD ($)	12 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss	$ (132,703)	$ (160,376)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	$ 35,706	$ 2,072
Impairment expense
Common stock issued for services	$ 12,000	$ 5,000
Stock options issued	1,961	$ 24,661
Debt issuance cost	4,250
Changes in operating assets and liabilities:
Prepaid expenses	(15)	$ 483
Accounts payable & accrued expenses	20,308	23,001
Net cash used in operating activities	(58,493)	(105,159)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from stock sales	35,000	78,500
Proceeds from note payable	125,000	$ 20,000
Proceeds from related party	2,583
Proceeds from advances from officer and stockholder	$ 10,000	$ 23,000
Repayment of advances		(1,000)
Net cash provided by financing activities	$ 172,583	120,500
NET INCREASE (DECREASE) IN CASH	114,090	15,341
CASH - Beginning of period	23,439	8,098
CASH - End of period	$ 22,529	$ 23,439
SUPPLEMENTAL CASH FLOW DISCLOSURES:
Interest expense
Income taxes
NON-CASH FINANCING AND INVESTING TRANSACTIONS:
Conversion of accounts payable- related party to note payable- related party	$ 3,400	$ 20,000

NOTE 1 - DESCRIPTION OF BUSINES

NOTE 1 - DESCRIPTION OF BUSINESS AND GOING CONCERN	12 Months Ended
	Mar. 31, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
NOTE 1 - DESCRIPTION OF BUSINESS AND GOING CONCERN	NOTE 1 – DESCRIPTION OF BUSINESS AND GOING CONCERN EnXnet, Inc. (the “Company”) was formed in Oklahoma on March 30, 1999. EnXnet is a natural gas and petroleum exploitation, development and production company engaged in locating and developing hydrocarbon resources, primarily in the Rocky Mountain region. The Company’s principal business strategy is to enhance stockholder value by generating and developing high-potential exploitation resources in these areas. The Company’s principal business is the acquisition of leasehold interests in petroleum and natural gas rights, either directly or indirectly, and the exploitation and development of properties subject to these leases. The Company is currently searching for opportunities in the natural gas and petroleum industry. Our initial goal is to lease the mineral rights of acreage that has a high likelihood of becoming a producing property. Once a property is leased, we will require additional funding to drill and complete if necessary a producing natural gas and petroleum well. 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. 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.

NOTE 2 - SUMMARY OF ACCOUNTING

NOTE 2 - SUMMARY OF ACCOUNTING POLICIES	12 Months Ended
	Mar. 31, 2015
Accounting Policies [Abstract]
NOTE 2 - SUMMARY OF ACCOUNTING POLICIES	NOTE 2 - SUMMARY OF ACCOUNTING POLICIES Cash and cash equivalents Cash equivalents are highly liquid investments with an original maturity of three months or less. Use of estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States necessarily requires management to make estimates and assumptions that affect the amounts reported in the financial statements. We regularly evaluate estimates and judgments based on historical experience and other relevant facts and circumstances. Actual results could differ from those estimates. Fixed Assets Fixed assets are recorded at cost. Depreciation and amortization are provided using the straight-line method over the useful lives of the respective assets, typically 3-10 years. Major additions and betterments are capitalized. Upon retirement or disposal, the cost and related accumulated depreciation or amortization is removed from the accounts and any gain or loss is reflected in operations. Depreciation expenses included in operating expenses for the years ended March 31, 2015 and 2014 were $-0- and $-0-, respectively. Impairment of long-lived assets The Company reviews the carrying value of its long-lived assets annually or whenever events or changes in circumstances indicate that the historical-cost carrying value of an asset may no longer be appropriate. The Company assesses recoverability of the asset by comparing the undiscounted future net cash flows expected to result from the asset to its carrying value. If the carrying value exceeds the undiscounted future net cash flows of the asset, an impairment loss is measured and recognized. An impairment loss is measured as the difference between the net book value and the fair value of the long-lived asset. Fair value is estimated based upon either discounted cash flow analysis or estimated salvage value. As of March 31, 2015 and 2014, the company recognized $35,706 and $0 of impairment expense. Goodwill and other intangibles Goodwill and other intangibles with indefinite lives are not amortized but are reviewed for impairment at least annually, or more frequently if an event or circumstance indicates that an impairment may have occurred. To test for impairment, the fair value of each reporting unit is compared to the related net book value, including goodwill. If the net book value of the reporting unit exceeds the fair value, an impairment loss is measured and recognized. An income approach is utilized to estimate the fair value of each reporting unit. The income approach is based on the projected debt-free cash flow, which is discounted to the present value using discount factors that consider the timing and risk of cash flows. Licenses The costs associated with acquiring exclusive licensing rights to patented technology have been capitalized and are being charged to expense using the straight line method of amortization over ten years, the estimated remaining useful lives of the patents. Amortization expenses included in operating expenses for the years ended March 31, 2015 and 2014 were $-0- and $2,072, respectively. Stock Based Compensation FASB ASC 718 requires that measurement of the cost of employee services received in exchange for an award of equity instruments be based on the grant-date fair value of the award. Such costs are recorded over the periods employees are required to render services in exchange for the awards. Income taxes Deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to temporary differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. These assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which the temporary differences are expected to reverse. We have net operating loss carryforwards available to reduce future taxable income. Future tax benefits for these net operating loss carryforwards are recognized to the extent that realization of these benefits is considered more likely than not. To the extent that we will not realize a future tax benefit, a valuation allowance is established. Basic and diluted net loss per share Basic loss per share is computed using the weighted average number of shares of common stock outstanding during each period. Diluted loss per share includes the dilutive effects of common stock equivalents on an “as if converted” basis. For the years ended March 31, 2015 and 2014 potential dilutive securities had an anti-dilutive effect and were not included in the calculation of diluted net loss per common share Recent Accounting Pronouncements The Company does not expect the adoption of recently issued accounting pronouncements to have a significant impact on the Company’s results of operation, financial position or cash flows. Reclassifications Certain amounts have been reclassified from the prior financial statements for comparative purposes.

NOTE 3 - INCOME TAXES

NOTE 3 - INCOME TAXES	12 Months Ended
	Mar. 31, 2015
Income Tax Disclosure [Abstract]
NOTE 3 - INCOME TAXES	NOTE 3 – INCOME TAXES At March 31, 2015 and 2014, the Company had net deferred tax assets of approximately $940,000 and $900,000 principally arising from net operating loss carryforwards for income tax purposes. As management of the Company cannot determine that it is more likely than not that the Company will realize the benefit of the net deferred tax asset, a valuation allowance equal to the net deferred tax asset has been established at March 31, 2015 and 2014. At March 31, 2015, the Company has net operating loss carry forwards totaling approximately $2,764,000 which will begin to expire in the year 2015. Income tax provision (benefit) for the years ended March 31, 2015 and 2014 is summarized below: 2015 2014 Current: Federal $ — $ — State — — Total current — — Deferred: Federal (940,000 ) (900,000 ) State — — Total deferred (940,000 ) (900,000 ) Increase in valuation allowance 940,000 900,000 The provision for income taxes differs from the amount computed by applying the statutory federal income tax rate before provision for income taxes. The sources and tax effect of the differences are as follows: 2015 2014 Income tax provision at the federal statutory rate 34.0 % 34.0 % State income taxes, net of federal benefit — % — % Effect of net operating loss (34.0 %) (34.0 %) — % — % Components of the net deferred income tax assets at March 31, 2015 and 2014 were as follows: 2015 2014 Net operating loss carryover $ 2,764,000 $ 2,647,000 Valuation allowance (2,764,000 ) (2,647,000 ) $ — $ — ASC 740 requires a valuation allowance to reduce the deferred tax assets reported if, based on the weight of evidence, it is more than likely than not that some portion or all of the deferred tax assets will not be recognized. After consideration of all the evidence, both positive and negative, management has determined that a $940,000 and $900,000 allowance at March 31, 2015 and 2014, respectively, is necessary to reduce the deferred tax assets to the amount that will more likely than not be realized. The change in the valuation allowance for the current year is $40,000. As of March 31, 2015, we have a net operating loss carry forward of approximately $2,764,000. The loss will be available to offset future taxable income. If not used, this carry forward will expire as follows:

NOTE 4 - CONVERTIBLE NOTES PAYA

NOTE 4 - CONVERTIBLE NOTES PAYABLE	12 Months Ended
	Mar. 31, 2015
Debt Disclosure [Abstract]
NOTE 4 - CONVERTIBLE NOTES PAYABLE	NOTE 4 – CONVERTIBLE NOTES PAYABLE Convertible notes payable-related party consists of the following: March 31, 2015 2014 3% convertible note payable to Ryan Corley, President of the Company, due on demand — 21,705 2% convertible notes payable to Ryan Corley, President of the Company, due on demand — 640,750 2% convertible notes payable to Ryan Corley, President of the Company, due on demand, convertible into a maximum of 33,222,750 common shares 664,455 — 2% convertible note payable to an entity controlled by Ryan Corley, President of the Company, due on demand, convertible into a maximum of 978,000 common shares 48,900 48,900 3% convertible notes payable to an entity controlled by Ryan Corley, President of the Company, due on demand, convertible into a maximum of 1,619,500 common shares 111,350 111,350 2% convertible notes payable to Douglas Goodsell, a related party, due on demand, convertible into a maximum of 519,850 common shares 10,396 6,413 Total notes payable-related party $ 835,101 $ 829,218 Convertible notes payable consist of the following: March 31, 2015 2014 7% convertible notes payable to stockholders, due March 16, 2017, convertible into a maximum of 6,250,000 common shares, 125,000 — 4% convertible notes payable to a stockholder, due on demand, convertible into a maximum of 350,000 common shares 175,000 175,000 2% convertible notes payable to stockholders, due on demand, convertible into a maximum of 1,100,000 common shares 25,000 25,000 Total notes payable $ 325,000 $ 200,000 In March 2015, the Company issued two conventional convertible notes in the aggregate amount of $125,000 to stockholders. A portion of the proceeds of these notes are restricted and to be used to obtain natural gas and petroleum properties. The restricted amount is $115,000. In connection with these notes, the Company issued 250,000 common shares valued in the amount of $4,250. These notes are convertible into 6,250,000 common stock shares and accrue interest at a 7% per year rate. A Black-Scholes valuation of the conversion feature was determined to have no value and therefore no liability for the conversion feature was recorded. These notes are due March 16, 2017, however, if suitable natural gas and petroleum properties are not located in the near term, the restricted cash will be used to pay off these notes. For this reason, the notes have been classified as current liabilities. On December 1, 2014, the Company consolidated, renewed and modified certain notes payables that are convertible into common stock of the Company. At the issuance of the new notes, the conversion price was decreased to $.02 per share and the interest rate was reduced to 2%. The notes were evaluated pursuant to ASC470-60 Troubled Debt Restructuring and ASC 470-50 Modification and Extinguishment. The change in the fair value of the conversion option was greater than 10% of the carrying value of the debt immediately prior to the modification however there was no accounting impact as there were no direct costs associated with the modification to capitalize, fees paid to lenders or unamortized discounts to account for. The Company had eight notes payable to and an advance from the CEO which were combined and renewed into one note in the amount of $664,455. The Company had two notes payable to and an advance from a related party which were combined and renewed into one note in the amount of $10,396. The Company had a note payable to a third party which was renewed in the amount of $20,000.

NOTE 5 - ADVANCES FROM OFFICER

NOTE 5 - ADVANCES FROM OFFICER AND STOCKHOLDER	12 Months Ended
	Mar. 31, 2015
Related Party Transactions [Abstract]
NOTE 5 - ADVANCES FROM OFFICER AND STOCKHOLDER	NOTE 5 – ADVANCES FROM OFFICER AND STOCKHOLDER Advances from Stockholder: Advances from two stockholders at March 31, 2015 and 2014 were $31,000 and $32,400, respectively. Advances from Officer: Our CEO, Ryan Corley, has made advances to the Company in prior years. During the years ended March 31, 2015 and 2014, the CEO made additional unsecured advances totaling $10,000 and $23,000. During the years ended March 31, 2015 and 2014, the Company made payments on these advances of $-0- and $1,000. Also during the years ended March 31, 2015 and 2014, the Company converted $2,000 and $20,000 of the advances into notes payable. At March 31, 2015 and 2014, advances from the CEO were $10,000 and $2,000 respectively. The Company has notes payable to the CEO in the aggregate amount of $664,455 and $662,455 as of March 31, 2015 and 2014 .During the year ended March 31, 2015 and 2014, the Company converted $20,000 and $36,900 advances from the CEO to notes payable. Accrued interest owed on these notes at March 31, 2015 and 2014 is $148,704 and $135,569. These notes and accrued interest are convertible into 15,664,622 and 14,880,388 shares of restricted common stock of the company. At March 31, 2015 and 2014, advances from the entity controlled by the CEO were $10,500 and $10,500 and notes payable totaled $160,250 and $160,250. Accrued interest owed on these notes at March 31, 2015 and 2014 is $25,392 and $21,014. These notes and accrued interest are convertible into 2,990,982 and 2,921,896 shares of restricted common stock of the company.

NOTE 6 - COMMON STOCK TRANSACTI

NOTE 6 - COMMON STOCK TRANSACTIONS	12 Months Ended
	Mar. 31, 2015
STOCKHOLDERS DEFICIT
NOTE 6 - COMMON STOCK TRANSACTIONS	NOTE 6 - COMMON STOCK TRANSACTIONS The Company issued 250,000 common shares with the issuance of two notes payable in the aggregate of $125,000 during the years ended March 31, 2015. The Company recorded debt issuance cost of $4,250. The Company issued 2,000,000 and 100,000 common shares during the years ended March 31, 2015 and 2014 for services valued at $12,000 and $5,000. The Company sold 700,000 and 1,570,000 common shares during the years ended March 31, 2015 and 2014 cash of $35,000 and $78,500.

NOTE 7 - STOCK OPTIONS

NOTE 7 - STOCK OPTIONS	12 Months Ended
	Mar. 31, 2015
Fair Value Disclosures [Abstract]
NOTE 7 - STOCK OPTIONS	NOTE 7 – 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, 2015 and 2014, the Company did not grant any stock options to employees and members of the Board of Directors. At March 31, 2015 there were 1,590,000 options issued under the Plan and there were no available options to be issued under the Plan. The Company also issues stock options to purchase common stock outside of the Plan. During the years ended March 31, 2015 and 2014, the Company granted -0- and 500,000 such options for 24 months at exercise prices from $0.15 to $0.50 per share to unrelated entities. At March 31, 2015 and 2014, there were 1,000,000 such options outstanding. During the year ended March 31, 2015 and 2014, the Company estimated the fair value of each stock option for employees and consultants at the grant date by using the Black-Scholes option-pricing model with the following assumptions: Dividends yield 0 % Computed volatility 108% -158 % Risk-free interest rate .11% - .63 % Expected life 1 to 4 years During the year ended March 31, 2015, the Company recognized $1,961 in stock option expense. A summary of the status of the Company’s stock options as of March 31, 2015 and 2014 is presented below: 2015 2014 Options outstanding at beginning of year 3,290,000 3,290,000 Options granted — 500,000 Options exercised — — Options canceled/expired (700,000 ) (500,000 ) Options outstanding at end of year 2,590,000 3,290,000 The following table summarizes the information about the stock options as of March 31, 2015: Range of Exercise Price Number Outstanding Weighted Average Remaining Contractual Life Years Number Exercisable $ .12 1,590,000 2.30 1,590,000 .15 500,000 1.65 500,000 .40 300,000 1.25 200,000 .25 200,000 .25 — $ .12 – .40 2,590,000 3.18 2,290,000 The following table summarizes the information about the stock options as of March 31, 2014: Range of Exercise Price Number Outstanding Weighted Average Remaining Contractual Life Years Number Exercisable $ .12 1,990,000 3.30 1,990,000 .15 300,000 .26 300,000 .15 500.000 2.65 500,000 .25 200,000 1.25 — .50 300,000 2.25 100,000 $ .12 – .50 3,290,000 3.18 2,890,000

NOTE 2 - SUMMARY OF ACCOUNTIN14

NOTE 2 - SUMMARY OF ACCOUNTING POLICIES (Policies)	12 Months Ended
	Mar. 31, 2015
Accounting Policies [Abstract]
Cash and Cash Equivalents	Cash and cash equivalents Cash equivalents are highly liquid investments with an original maturity of three months or less.
Use of estimates	Use of estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States necessarily requires management to make estimates and assumptions that affect the amounts reported in the financial statements. We regularly evaluate estimates and judgments based on historical experience and other relevant facts and circumstances. Actual results could differ from those estimates.
Fixed Assets	Fixed Assets Fixed assets are recorded at cost. Depreciation and amortization are provided using the straight-line method over the useful lives of the respective assets, typically 3-10 years. Major additions and betterments are capitalized. Upon retirement or disposal, the cost and related accumulated depreciation or amortization is removed from the accounts and any gain or loss is reflected in operations. Depreciation expenses included in operating expenses for the years ended March 31, 2015 and 2014 were $-0- and $-0-, respectively.
Impairment of long-lived assets	Impairment of long-lived assets The Company reviews the carrying value of its long-lived assets annually or whenever events or changes in circumstances indicate that the historical-cost carrying value of an asset may no longer be appropriate. The Company assesses recoverability of the asset by comparing the undiscounted future net cash flows expected to result from the asset to its carrying value. If the carrying value exceeds the undiscounted future net cash flows of the asset, an impairment loss is measured and recognized. An impairment loss is measured as the difference between the net book value and the fair value of the long-lived asset. Fair value is estimated based upon either discounted cash flow analysis or estimated salvage value. As of March 31, 2015 and 2014, the company recognized $35,706 and $0 of impairment expense.
Goodwill and other intangibles	Goodwill and other intangibles Goodwill and other intangibles with indefinite lives are not amortized but are reviewed for impairment at least annually, or more frequently if an event or circumstance indicates that an impairment may have occurred. To test for impairment, the fair value of each reporting unit is compared to the related net book value, including goodwill. If the net book value of the reporting unit exceeds the fair value, an impairment loss is measured and recognized. An income approach is utilized to estimate the fair value of each reporting unit. The income approach is based on the projected debt-free cash flow, which is discounted to the present value using discount factors that consider the timing and risk of cash flows.
Licenses	Licenses The costs associated with acquiring exclusive licensing rights to patented technology have been capitalized and are being charged to expense using the straight line method of amortization over ten years, the estimated remaining useful lives of the patents. Amortization expenses included in operating expenses for the years ended March 31, 2015 and 2014 were $-0- and $2,072, respectively.
Stock Based Compensation	Stock Based Compensation FASB ASC 718 requires that measurement of the cost of employee services received in exchange for an award of equity instruments be based on the grant-date fair value of the award. Such costs are recorded over the periods employees are required to render services in exchange for the awards.
Income taxes	Income taxes Deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to temporary differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. These assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which the temporary differences are expected to reverse. We have net operating loss carryforwards available to reduce future taxable income. Future tax benefits for these net operating loss carryforwards are recognized to the extent that realization of these benefits is considered more likely than not. To the extent that we will not realize a future tax benefit, a valuation allowance is established.
Basic and diluted net loss per share	Basic and diluted net loss per share Basic loss per share is computed using the weighted average number of shares of common stock outstanding during each period. Diluted loss per share includes the dilutive effects of common stock equivalents on an “as if converted” basis. For the years ended March 31, 2015 and 2014 potential dilutive securities had an anti-dilutive effect and were not included in the calculation of diluted net loss per common share
Recent Accounting Pronouncements	Recent Accounting Pronouncements The Company does not expect the adoption of recently issued accounting pronouncements to have a significant impact on the Company’s results of operation, financial position or cash flows.
Reclassifications	Reclassifications Certain amounts have been reclassified from the prior financial statements for comparative purposes.

NOTE 3 - INCOME TAXES (Tables)

NOTE 3 - INCOME TAXES (Tables)	12 Months Ended
	Mar. 31, 2015
Income Tax Disclosure [Abstract]
Income Tax Provision (Benefit)	2015 2014 Current: Federal $ — $ — State — — Total current — — Deferred: Federal (940,000 ) (900,000 ) State — — Total deferred (940,000 ) (900,000 ) Increase in valuation allowance 940,000 900,000
Reconciliation of Tax Rates	2015 2014 Income tax provision at the federal statutory rate 34.0 % 34.0 % State income taxes, net of federal benefit — % — % Effect of net operating loss (34.0 %) (34.0 %) — % — %
Components of Net Deferred Income Tax Assets	2015 2014 Net operating loss carryover $ 2,764,000 $ 2,647,000 Valuation allowance (2,764,000 ) (2,647,000 ) $ — $ —

NOTE 4 - CONVERTIBLE NOTES PA16

NOTE 4 - CONVERTIBLE NOTES PAYABLE (Tables)	12 Months Ended
	Mar. 31, 2015
Debt Disclosure [Abstract]
Convertible notes payable - related party	Convertible notes payable-related party consists of the following: March 31, 2015 2014 3% convertible note payable to Ryan Corley, President of the Company, due on demand — 21,705 2% convertible notes payable to Ryan Corley, President of the Company, due on demand — 640,750 2% convertible notes payable to Ryan Corley, President of the Company, due on demand, convertible into a maximum of 33,222,750 common shares 664,455 — 2% convertible note payable to an entity controlled by Ryan Corley, President of the Company, due on demand, convertible into a maximum of 978,000 common shares 48,900 48,900 3% convertible notes payable to an entity controlled by Ryan Corley, President of the Company, due on demand, convertible into a maximum of 1,619,500 common shares 111,350 111,350 2% convertible notes payable to Douglas Goodsell, a related party, due on demand, convertible into a maximum of 519,850 common shares 10,396 6,413 Total notes payable-related party $ 835,101 $ 829,218
Convertible Notes Payable	Convertible notes payable consist of the following: March 31, 2015 2014 7% convertible notes payable to stockholders, due March 16, 2017, convertible into a maximum of 6,250,000 common shares, 125,000 — 4% convertible notes payable to a stockholder, due on demand, convertible into a maximum of 350,000 common shares 175,000 175,000 2% convertible notes payable to stockholders, due on demand, convertible into a maximum of 1,100,000 common shares 25,000 25,000 Total notes payable $ 325,000 $ 200,000

NOTE 7 - STOCK OPTIONS (Tables)

NOTE 7 - STOCK OPTIONS (Tables)	12 Months Ended
	Mar. 31, 2015
Fair Value Disclosures [Abstract]
Assumptions Used	Dividends yield 0 % Computed volatility 108% -158 % Risk-free interest rate .11% - .63 % Expected life 1 to 4 years
Status of Company's Stock Options	2015 2014 Options outstanding at beginning of year 3,290,000 3,290,000 Options granted — 500,000 Options exercised — — Options canceled/expired (700,000 ) (500,000 ) Options outstanding at end of year 2,590,000 3,290,000
Information about Stock Options	Range of Exercise Price Number Outstanding Weighted Average Remaining Contractual Life Years Number Exercisable $ .12 1,590,000 2.30 1,590,000 .15 500,000 1.65 500,000 .40 300,000 1.25 200,000 .25 200,000 .25 — $ .12 – .40 2,590,000 3.18 2,290,000 The following table summarizes the information about the stock options as of March 31, 2014: Range of Exercise Price Number Outstanding Weighted Average Remaining Contractual Life Years Number Exercisable $ .12 1,990,000 3.30 1,990,000 .15 300,000 .26 300,000 .15 500.000 2.65 500,000 .25 200,000 1.25 — .50 300,000 2.25 100,000 $ .12 – .50 3,290,000 3.18 2,890,000

NOTE 2 - SUMMARY OF ACCOUNTIN18

NOTE 2 - SUMMARY OF ACCOUNTING POLICIES (Details Narrative) - USD ($)	12 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Accounting Policies [Abstract]
Depreciation Expense	$ 0	$ 0
Impairment expense	35,706	0
Depreciation & amortization	35,706	2,072
Amortization Expenses	$ 0	$ 2,072

NOTE 3 - INCOME TAXES - Income

NOTE 3 - INCOME TAXES - Income Tax Provision (Benefit) (Details) - USD ($)	12 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Current:
Federal
State
Total current
Deferred:
Federal	$ (940,000)	$ (900,000)
State
Total deferred	$ (940,000)	$ (900,000)
Increase in valuation allowance	$ 940,000	$ 900,000

NOTE 3 - INCOME TAXES - Reconci

NOTE 3 - INCOME TAXES - Reconciliation of Tax Rates (Details)	12 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Income Tax Disclosure [Abstract]
Income tax provision at the federal statutory rate	34.00%	34.00%
State income taxes, net of federal benefit
Effect of net operating loss	(34.00%)	(34.00%)
Effect of differences

NOTE 3 - INCOME TAXES - Compone

NOTE 3 - INCOME TAXES - Components of Net Deferred Income Tax Assets (Details) - USD ($)	Mar. 31, 2015	Mar. 31, 2014
Income Tax Disclosure [Abstract]
Net operating loss carryover	$ 2,764,000	$ 2,647,000
Valuation allowance	$ (2,764,000)	$ (2,647,000)
Net deferred income tax asset

NOTE 3 - INCOME TAXES (Details

NOTE 3 - INCOME TAXES (Details Narrative) - USD ($)	Mar. 31, 2015	Mar. 31, 2014
Income Tax Disclosure [Abstract]
Net Deferred Tax Assets	$ 940,000	$ 900,000
Net Operating Loss Carry Forwards	$ 2,764,000

NOTE 4 - CONVERTIBLE NOTES PA23

NOTE 4 - CONVERTIBLE NOTES PAYABLE - Convertible notes payable - related party (Details) - USD ($)	12 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Total notes payable-related party	$ 835,101	$ 829,218
3% Convertible note payable to Ryan Corley, President of the Company, due on demand
Total notes payable-related party		21,705
2% Convertible note payable to Ryan Corley, President of the Company, due on demand
Total notes payable-related party		$ 640,750
2% Convertible notes payable to Ryan Corley, President of the Company, due on demand, convertilbe into a maximum of 33,222,750 common shares
Total notes payable-related party	$ 664,455
2% convertible note payable to an entity controlled by Ryan Corley, President of the Company, due on demand, convertible into a maximum of 978,000 common shares
Total notes payable-related party	48,900	$ 48,900
3% convertible notes payable to an entity controlled by Ryan Corley, President of the Company, due on demand, convertible into a maximum of 1,619,500 common shares
Total notes payable-related party	111,350	111,350
2% convertible notes payable to Douglas Goodsell, a related praty, due on demand, convertible into a maximum of 519,850 common shares
Total notes payable-related party	$ 10,396	$ 6,413

NOTE 4 - CONVERTIBLE NOTES PA24

NOTE 4 - CONVERTIBLE NOTES PAYABLE - Convertible Notes Payable (Details) - USD ($)	Mar. 31, 2015	Mar. 31, 2014
Total notes payable	$ 325,000	$ 200,000
7% convertible notes payable to stockholders, due March 16, 2017, convertible into a maximum of 6,250,000 common shares
Total notes payable	125,000
4% convertible notes payable to a stockholder, due on demand, convertible into a maximum of 350,000 common shares
Total notes payable	175,000	$ 175,000
2% convertible notes payable to stockholders, due on demand, convertible into a maximum of 1,100,000 common shares
Total notes payable	$ 25,000	$ 25,000

NOTE 4 - CONVERTIBLE NOTES PA25

NOTE 4 - CONVERTIBLE NOTES PAYABLE (Details Narrative) - USD ($)	12 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Convertible Notes Issued	$ 125,000
Restricted Portion of Notes Issued	$ 115,000
Stock issued for debt issue costs, Shares	250,000
Stock issued for debt issue costs, value	$ 4,250
Convertible notes, shares to be issued	6,250,000
Interest rate	7.00%
Total notes payable-related party	$ 835,101	$ 829,218
2% Convertible notes payable to Ryan Corley, President of the Company, due on demand, convertilbe into a maximum of 33,222,750 common shares
Total notes payable-related party	664,455
2% convertible notes payable to Douglas Goodsell, a related praty, due on demand, convertible into a maximum of 519,850 common shares
Total notes payable-related party	$ 10,396	$ 6,413

NOTE 5 - ADVANCES FROM OFFICE26

NOTE 5 - ADVANCES FROM OFFICER AND STOCKHOLDER (Details Narrative) - USD ($)	12 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Advances from Stockholder	$ 31,000	$ 32,400
Payments on Advances	0	1,000
Advances Converted into Notes Payable	2,000	20,000
Increase in Advances Made	10,000	23,000
Notes Payable, Officer	664,455	662,455
Accrued Interest	$ 148,704	$ 135,569
Convertible Notes, Shares issued upon Conversion	15,664,622	14,880,388
Entity controlled by CEO
Increase in Advances Made	$ 10,500	$ 10,500
Notes Payable, Officer	160,250	160,250
Accrued Interest	$ 25,392	$ 21,014
Convertible Notes, Shares issued upon Conversion	2,990,982	2,921,896

NOTE 6 - COMMON STOCK TRANSAC27

NOTE 6 - COMMON STOCK TRANSACTIONS (Details Narrative) - USD ($)	12 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
STOCKHOLDERS DEFICIT
Stock issued for cash, shares	70,000	1,570,000
Stock issued for cash, value	$ 35,000	$ 78,500
Stock issued for services, shares	2,000,000	100,000
Stock issued for services, value	$ 12,000	$ 5,000
Stock issued for debt issue costs, Shares	250,000
Stock issued for debt issue costs, value	$ 4,250

NOTE 7 - STOCK OPTIONS - Assump

NOTE 7 - STOCK OPTIONS - Assumptions Used (Details) - 12 months ended Mar. 31, 2015	Total
Minimum [Member]
Dividends yield	0.00%
Computed volatility	108.00%
Risk-free interest rate	0.11%
Expected life	1 year
Maximum [Member]
Computed volatility	158.00%
Risk-free interest rate	0.63%
Expected life	4 years

NOTE 7 - STOCK OPTIONS - Status

NOTE 7 - STOCK OPTIONS - Status of Company's Stock Options (Details) - USD ($)	12 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Fair Value Disclosures [Abstract]
Options outstanding at beginning of year	3,290,000	3,290,000
Options granted		500,000
Options exercised
Options canceled/expired	$ (700,000)	$ (500,000)
Options outstanding at end of year	2,590,000	3,290,000

NOTE 7 - STOCK OPTIONS - Inform

NOTE 7 - STOCK OPTIONS - Information about Stock Options (Details) - $ / shares	12 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Mar. 31, 2013
Number Outstanding	2,590,000	3,290,000	3,290,000
Weighted Average Remaining Contractual Life Years	3 years 2 months	3 years 2 months
Number Exercisable	2,290,000	2,890,000
Minimum [Member]
Range of Exercise Price	$ .12	$ .12
Maximum [Member]
Range of Exercise Price	.40	.50
Option 1
Range of Exercise Price	$ .12	$ 0.12
Number Outstanding	1,990,000	1,590,000
Weighted Average Remaining Contractual Life Years	2 years 4 months	3 years 4 months
Number Exercisable	1,990,000	1,590,000
Option 2
Range of Exercise Price	$ 0.15	$ .15
Number Outstanding	300,000	500,000
Weighted Average Remaining Contractual Life Years	1 year 7 months	3 months
Number Exercisable	300,000	500,000
Option 3
Range of Exercise Price	$ .40	$ .15
Number Outstanding	500	300,000
Weighted Average Remaining Contractual Life Years	1 year 3 months	2 years 7 months
Number Exercisable	500,000	200,000
Option 4
Range of Exercise Price	$ .25	$ .25
Number Outstanding	200,000	200,000
Weighted Average Remaining Contractual Life Years	3 months	1 year 3 months
Number Exercisable
Option 5
Range of Exercise Price		$ .50
Number Outstanding	300,000
Weighted Average Remaining Contractual Life Years		2 years 3 months
Number Exercisable	100,000

NOTE 7 - STOCK OPTIONS (Details

NOTE 7 - STOCK OPTIONS (Details Narrative) - USD ($)	12 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Options, Shares Granted		500,000
Stock Option Expense	$ 1,961
2002 Stock Option Plan
Option Shares Authorized		3,000,000
Options, Shares Granted	0
Options Issued	1,590,000
Other Stock Option Plan
Options, Shares Granted		500,000
Options Issued	1,000,000	1,000,000
Exercise Price, Minimum	$ 0.15	$ 0.15
Exercise Price, Maximum	$ 0.50	$ 0.50