Enxnet 10-K 12 Jul 17 2016 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Mar. 31, 2017	Jun. 29, 2017	Sep. 30, 2016
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, 2017
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			$ 2,267,341
Entity Common Stock, Shares Outstanding		54,401,518
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2,016

Balance Sheets

Balance Sheets - USD ($)	Mar. 31, 2017	Mar. 31, 2016
CURRENT ASSETS
Cash	$ 8,123	$ 24,608
Restricted cash	52,277	54,371
TOTAL CURRENT ASSETS	60,400	78,979
OTHER ASSETS
Oil and gas properties, unproved (full cost method)	66,396	20,108
TOTAL ASSETS	126,796	99,087
CURRENT LIABILITIES
Accounts payable and accrued expenses	636,563	602,703
Advances from officer - related party	16,500	10,500
Advances from stockholder	31,000	31,000
Convertible notes payable	300,000	300,000
Convertible notes payable - related party	890,101	875,101
TOTAL CURRENT LIABILITIES	1,874,164	1,819,304
LONG-TERM LIABILITIES
Convertible note payable	50,000
TOTAL LONG-TERM LIABILITIES	50,000
TOTAL LIABILITIES	1,924,164	1,819,304
STOCKHOLDERS DEFICIT
Common stock, $0.00005 par value; 200,000,000 shares authorized, 54,401,518 and 54,201,518 shares issued and outstanding	2,720	2,710
Additional paid-in capital	5,649,704	5,647,714
Accumulated deficit	(7,349,792)	(7,270,641)
Other comprehensive loss	(100,000)	(100,000)
TOTAL STOCKHOLDERS DEFICIT	(1,797,368)	(1,720,217)
TOTAL LIABILITIES AND STOCKHOLDERS DEFICIT	$ 126,796	$ 99,087

Balance Sheets (Parenthetical)

Balance Sheets (Parenthetical) - $ / shares	Mar. 31, 2017	Mar. 31, 2016
Statement of Financial Position [Abstract]
Common Stock, Par Value	$ 0.00005	$ 0.00005
Common Stock, Shares Authorized	200,000,000	200,000,000
Common Stock, Shares Issued	54,401,518	54,201,518
Common Stock, Shares Outstanding	54,401,518	54,201,518

Statements of Operations

Statements of Operations - USD ($)	12 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
EXPENSES
Oil and gas exploration	$ 649
Consulting	1,200	12,300
Payroll	6,000	14,500
Professional services	27,993	27,329
Occupancy and office	4,781	6,203
Travel	651	1,491
Other	2,130	2,126
Total Expenses	43,404	63,949
LOSS FROM OPERATIONS	(43,404)	(63,949)
OTHER EXPENSE
Interest expense	(35,747)	(34,527)
NET LOSS	$ (79,151)	$ (98,476)
BASIC AND DILUTED NET LOSS PER SHARE	$ 0	$ 0
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING, BASIC AND DILUTED	54,328,093	53,426,450

Shareholders Equity

Shareholders Equity - USD ($)	Common Stock	Additional Paid-In Capital	Accumulated Deficit	Other Comprehensive Loss	Total
Beginning Balance, Shares at Mar. 31, 2015	52,601,518
Beginning Balance, Value at Mar. 31, 2015	$ 2,630	$ 5,629,294	$ (7,172,165)	$ (100,000)	$ (1,640,241)
Stock issued for services, shares	1,600,000
Stock issued for services, value	$ 80	18,420			18,500
Net loss			(98,476)		(98,476)
Ending Balance, Shares at Mar. 31, 2016	54,201,518
Ending Balance, Value at Mar. 31, 2016	$ 2,710	5,647,714	(7,270,641)	(100,000)	(1,720,217)
Stock issued for services, value
Stock issued for additional interest, Shares	200,000
Stock issued for additional interest, value	$ 10	1,990			2,000
Net loss					(79,151)
Ending Balance, Shares at Mar. 31, 2017	54,401,518
Ending Balance, Value at Mar. 31, 2017	$ 2,720	$ 5,649,704	$ (7,349,792)	$ (100,000)	$ (1,797,368)

Statements of Cash Flows

Statements of Cash Flows - USD ($)	12 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss	$ (79,151)	$ (98,476)
Adjustments to reconcile net loss to net cash used in operating activities:
Common stock issued for additional interest	2,000
Common stock issued for services		18,500
Changes in operating assets and liabilities:
Prepaid expenses		559
Accounts payable & accrued expenses	33,860	34,838
Net cash used in operating activities	(43,291)	(44,579)
CASH FLOWS FROM INVESTING ACTIVITIES
Changes in restricted cash	2,094	60,629
Additions to oil and gas properties, unproved	(46,288)	(20,108)
Deposit		1,137
Net cash provided (used) by investing activities	(44,194)	41,658
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from note payable	50,000
Proceeds from advances from officer and stockholder	21,000	5,000
Net cash provided by financing activities	71,000	5,000
NET INCREASE (DECREASE) IN CASH	(16,485)	2,079
CASH - Beginning of period	24,608	22,529
CASH - End of period	8,123	24,608
SUPPLEMENTAL CASH FLOW DISCLOSURES:
Interest expense
Income taxes
NON-CASH FINANCING AND INVESTING TRANSACTIONS:
Conversion of convertible notes payables-stockholders to Advances from officer-related party		25,000
Conversion of advances from officer-related party to convertible notes payable-related party	$ 15,000	$ 40,000

NOTE 1 - DESCRIPTION OF BUSINES

NOTE 1 - DESCRIPTION OF BUSINESS AND GOING CONCERN	12 Months Ended
	Mar. 31, 2017
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. (“we”, “our”, the “Company”) was formed in Oklahoma on March 30, 1999. On August 7, 2015, the Company incorporated EnXnet Energy Company LLC. in the State of Colorado as a wholly owned subsidiary. EnXnet Inc. and its wholly owned subsidiary, EnXnet Energy Company, LLC. (“the Company”) 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 has leased property in Colorado and is currently searching for additional opportunities in the natural gas and petroleum industry. Our goal is to lease the oil and gas properties of acreage that has a high likelihood of becoming a producing property. We will require additional funding to drill and complete 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, 2017
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. Restricted Cash The Company has cash that is restricted for use in natural gas and petroleum exploration. 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. Fair Value of Financial Instruments The carrying amounts reported in the consolidated balance sheets as of March 31, 2017 and 2016 for cash equivalents and accounts payable and accrued expenses approximate fair value because of the immediate or short-term maturity of these financial instruments. Oil and gas properties, unproved (full cost method) The Company uses the full cost method of accounting for exploration and development activities as defined by the SEC. Under this method of accounting, the costs of unsuccessful, as well as successful, exploration and development activities are capitalized as properties and equipment. This includes any internal costs that are directly related to property acquisition, exploration and development activities but does not include any costs related to production, general corporate overhead or similar activities. Gain or loss on the sale or other disposition of oil and gas properties is not recognized, unless the gain or loss would significantly alter the relationship between capitalized costs and proved reserves. Oil and gas properties include costs that are excluded from costs being depleted or amortized. Oil and natural gas property costs excluded represent investments in unevaluated properties and include non-producing leasehold, geological, and geophysical costs associated with leasehold or drilling interests and exploration drilling costs. Costs are transferred to the full cost pool as the properties are evaluated over the life of the reservoir. All items classified as unproved property are assessed on a quarterly basis for possible impairment or reduction in value. Properties are assessed on an individual basis or as a group if properties are individually insignificant. The assessment includes consideration of various factors, including, but not limited to, the following: intent to drill; remaining lease term; geological and geophysical evaluations; drilling results and activity; assignment of proved reserves; and economic viability of development if proved reserves are assigned. During any period in which these factors indicate an impairment, the cumulative drilling costs incurred to date for such property and all or a portion of the associated leasehold costs are transferred to the full cost pool and become subject to amortization. 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. The Company did not recognized impairment expense in the years ended March 31, 2017 and 2016. Stock Based Compensation The Company records stock-based compensation in accordance with ASC 718, Compensation – Stock Based Compensation and ASC 505, Equity Based Payments to Non-Employees, using the fair value method. All transactions in which goods or services are the consideration received for the issuance of equity instruments are accounted for based on the fair value of the consideration received or the fair value of the equity instrument issued, whichever is more reliably measurable. Equity instruments issued to employees and the cost of the services received as consideration are measured and recognized based on the fair value of the equity instruments issued. 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, 2017 and 2016 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 prior year amounts have been reclassified to conform with the current year financial statements presentation. Principles of Consolidation The consolidated financial statements include the accounts of the Company and its subsidiary. All significant inter-company transactions and balances have been eliminated in consolidation. References herein to the Company include the Company and its subsidiary, unless the context otherwise requires.

NOTE 3 - OIL AND GAS PROPERTIES

NOTE 3 - OIL AND GAS PROPERTIES, UNPROVED	12 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
NOTE 3 - OIL AND GAS PROPERTIES, UNPROVED	NOTE 3 – OIL AND GAS PROPERTIES, UNPROVED At March 31, 2017 and 2016, the Company had $66,396 and $20,108 in unproved oil and gas properties representing 17,306 and 960 acres in the Rocky Mountain range located in the State of Colorado, respectively. In the years ended March 31, 2017 and 2016, the Company paid $46,289 and $20,107 to lease 16,346 and 960 acres for a 5-year term, respectively. Initially the Company is required to pay the first year’s lease plus any lease bonus payments. Thereafter, the Company is responsible for making annual lease payments of $2.50 per acre to the State of Colorado for the next four years. Annual lease payments for future fiscal years are as follows: Fiscal Year Ended March 31, Acres Leased Annual Lease Commitment 2018 17,306 $43,268 2019 17,306 $43,268 2020 17,306 $43,268 2021 17,306 $40,868 Annually, the oil and gas properties are tested for impairment. The Company determined that there was no impairment of the unproved oil and gas properties for the years ended March 31, 2017 and 2016.

NOTE 4 - INCOME TAXES

NOTE 4 - INCOME TAXES	12 Months Ended
	Mar. 31, 2017
Income Tax Disclosure [Abstract]
NOTE 4 - INCOME TAXES	NOTE 4 – INCOME TAXES At March 31, 2017 and 2016, the Company had net deferred tax assets of approximately $2,177,000 and $2,150,000 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, 2017 and 2016. At March 31, 2017, the Company has net operating loss carry forwards totaling approximately $6,403,000 which will begin to expire in the year 2020. Income tax provision (benefit) for the years ended March 31, 2017 and 2016 is summarized below: 2017 2016 Current: Federal $ - $ - State - - Total current - - Deferred: Federal (27,000 ) (33,000 ) State - - Total deferred (27,000 ) (33,000 ) Increase in valuation allowance 27,000 33,000 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: 2017 2016 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, 2017 and 2016 were as follows: 2017 2016 Net operating loss carryover $ 2,177,000 $ 2,150,000 Valuation allowance (2,177,000 ) (2,150,000 ) $ — $ — 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 $2,177,000 and $2,150,000 allowance at March 31, 2017 and 2016, 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 $27,000. As of March 31, 2017, we have a net operating loss carry forward of approximately $6,403,000. The loss will be available to offset future taxable income. If not used, this carry forward will begin to expire in 2020 through 2037. The Company has identified its “major” tax jurisdictions to include the U.S. government. The Company's fiscal 2014 through 2016 federal tax returns remain open by statute.

NOTE 5 - CONVERTIBLE NOTES PAYA

NOTE 5 - CONVERTIBLE NOTES PAYABLE	12 Months Ended
	Mar. 31, 2017
Debt Disclosure [Abstract]
NOTE 5 - CONVERTIBLE NOTES PAYABLE	NOTE 5 – CONVERTIBLE NOTES PAYABLE Convertible notes payable-related party consists of the following: March 31, 2017 2016 2% convertible notes payable to Ryan Corley, President of the Company, due on demand, convertible into a maximum of 35,878,984 common shares 719,455 704,455 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 519,828 common shares 10,396 10,396 Total notes payable-related party $ 890,101 $ 875,101 Convertible notes payable consist of the following: March 31, 2017 2016 7% convertible notes payable to stockholders, which is past due, convertible into a maximum of 500,000 common shares, 100,000 100,000 7% convertible notes payable to stockholders, due August 12, 2018 convertible into a maximum of 250,000 common shares, 50,000 — 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 $ 350,000 $ 300,000 In August 2016, the Company issued a conventional convertible note in the aggregate amount of $50,000 to a stockholder. The proceeds in the amount of $50,000 is restricted and to be used to obtain natural gas and petroleum properties. In connection with the note, the Company issued 200,000 common shares, as additional interest, valued in the amount of $2,000. The notes is convertible into 250,000 common stock shares and accrue interest at a 7% per year rate. The Company determined that the note did not contain a beneficial conversion feature nor did the conversion option qualify for derivative accounting. In March 2015, the Company issued two conventional convertible notes in the aggregate amount of $125,000 to stockholders. A portion of the proceeds in the amount of $100,000 is restricted and to be used to obtain natural gas and petroleum properties. In connection with these notes, the Company issued 250,000 common shares valued in the amount of $4,250. During the year ended March 31, 2016, $25,000 of these notes were treated as being repaid. The Company’s CEO transferred a private partnership interest to one of the note holders and then contributed the $25,000 in a non-cash transaction back to the Company. The effect of the transaction was that Convertible Notes payable were reduced by $25,000 and Advances from officer – related party was increased by $25,000. These notes are convertible into 500,000 common stock shares and accrue interest at a 7% per year rate. The Company determined that the notes did not contain a beneficial conversion feature. These notes were due March 16, 2017.

NOTE 6 - ADVANCES FROM OFFICER

NOTE 6 - ADVANCES FROM OFFICER AND STOCKHOLDER	12 Months Ended
	Mar. 31, 2017
Related Party Transactions [Abstract]
NOTE 6 - ADVANCES FROM OFFICER AND STOCKHOLDER	NOTE 6 – ADVANCES FROM OFFICER AND STOCKHOLDER Advances from Stockholder: Advances from a stockholder at March 31, 2017 and 2016 were $31,000 and $31,000, respectively. Advances from Officer: Our CEO, Ryan Corley, has made advances to the Company in prior years. During the years ended March 31, 2017 and 2016, the CEO made additional unsecured advances totaling $21,000 and $5,000, respectively. During the years ended March 31, 2017 and 2016, the Company made payments on these advances of $-0- and $-0-, respectively. Also during the years ended March 31, 2017 and 2016, the Company converted $15,000 and $40,000 of the advances into notes payable, respectively. At March 31, 2017 and 2016, advances from the CEO were $6,000 and $-0- respectively. The Company has notes payable to the CEO in the aggregate amount of $719,455 and $704,455 as of March 31, 2017 and 2016, respectively. Accrued interest owed on these notes at March 31, 2017 and 2016 amounted to $190,007 and $175,759, respectively. These notes and accrued interest are convertible into 38,901,957 and 37,535,471 shares of restricted common stock of the Company, respectively. At March 31, 2017 and 2016, advances from the entity controlled by the CEO were $10,500 and $10,500, respectively, and notes payable totaled $160,250 and $160,250, respectively. Accrued interest owed on these notes at March 31, 2017 and 2016 amounted to $32,449 and $29,711, respectively. These notes and accrued interest are convertible into 3,104,417 and 3,059,127 shares of restricted common stock of the Company, respectively. The Company conducts its business from the office of its CEO, Ryan Corley, rent free.

NOTE 7 - COMMON STOCK TRANSACTI

NOTE 7 - COMMON STOCK TRANSACTIONS	12 Months Ended
	Mar. 31, 2017
STOCKHOLDERS DEFICIT
NOTE 7 - COMMON STOCK TRANSACTIONS	NOTE 7 - COMMON STOCK TRANSACTIONS The Company issued 200,000 common shares with the issuance of a note payable in the aggregate of $50,000 during the year ended March 31, 2017. The Company recorded additional interest of $2,000. The Company issued 1,600,000 common shares during the years ended March 31, 2016 for services valued at $18,500. Of these shares, 500,000 were issued to the CFO and to a director.

NOTE 8 - STOCK OPTIONS

NOTE 8 - STOCK OPTIONS	12 Months Ended
	Mar. 31, 2017
Fair Value Disclosures [Abstract]
NOTE 8 - STOCK OPTIONS	NOTE 8 – 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. A summary of the status of the Company’s stock options as of March 31, 2017 and 2016 is presented below: 2017 2016 Options outstanding at beginning of year 2,390,000 2,590,000 Options granted — — Options exercised — — Options canceled/expired (800,000 ) (200,000 ) Options outstanding at end of year 1,590,000 2,390,000 The following table summarizes the information about the stock options as of March 31, 2017: Range of Exercise Price Number Outstanding Weighted Average Remaining Contractual Life Years Number Exercisable $ 0.12 1,590,000 0.30 1,590,000 The following table summarizes the information about the stock options as of March 31, 2016: Range of Exercise Price Number Outstanding Weighted Average Remaining Contractual Life Years Number Exercisable $ 0.12 1,590,000 1.30 1,590,000 0.15 500,000 0.65 500,000 0. 50 300,000 0.25 300,000 $ 0.12 – 0.50 2,390,000 1.03 2,390,000

NOTE 9 _ SUBSEQUENT EVENTS

NOTE 9 – SUBSEQUENT EVENTS	12 Months Ended
	Mar. 31, 2017
Subsequent Events [Abstract]
NOTE 9 – SUBSEQUENT EVENTS	NOTE 9 – SUBSEQUENT EVENTS On April 1, 2017, the Company converted $6,000 of the advances from officer into a convertible note payable. The note bears interest of 2% and is convertible with the accrued interest into common shares of the Company at a rate of $.05 per share. In May 2017, the Company paid $9,030 to lease an additional 2,881 acres in the Rocky Mountain range located in the state of Colorado for a 5-year term. Each year, the Company is responsible for making additional lease payments of $2.50 per acre to keep the lease. On May 30, 2017, the Company’s subsidiary, EnXnet Energy Company, LLC, entered into a loan agreement with an individual to borrow $100,000 for an initial term of 6 months with the option to extend the note for an additional 6 months. The note is due November 30, 2017 with interest of 5.5% in the amount of $2,750 which was paid in June 30 2017. The Company will issue 100,000 shares of Common Stock. The loan is to be used to secure a one hundred thousand ($100,000) Cash Oil and Gas Blanket Activity Bond with the State of Colorado. On June 16, 2017, the Company borrowed $16,000 from our CEO, Ryan Corley. The note bears interest of 2% and is convertible with the accrued interest into common shares of the Company at a rate of $.016 per share.

NOTE 2 - SUMMARY OF ACCOUNTIN16

NOTE 2 - SUMMARY OF ACCOUNTING POLICIES (Policies)	12 Months Ended
	Mar. 31, 2017
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.
Restricted Cash	Restricted Cash The Company has cash that is restricted for use in natural gas and petroleum exploration.
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.
Fair Value of Financial Instruments	Fair Value of Financial Instruments The carrying amounts reported in the consolidated balance sheets as of March 31, 2017 and 2016 for cash equivalents and accounts payable and accrued expenses approximate fair value because of the immediate or short-term maturity of these financial instruments.
Oil and gas properties, unproved (full cost method)	Oil and gas properties, unproved (full cost method) The Company uses the full cost method of accounting for exploration and development activities as defined by the SEC. Under this method of accounting, the costs of unsuccessful, as well as successful, exploration and development activities are capitalized as properties and equipment. This includes any internal costs that are directly related to property acquisition, exploration and development activities but does not include any costs related to production, general corporate overhead or similar activities. Gain or loss on the sale or other disposition of oil and gas properties is not recognized, unless the gain or loss would significantly alter the relationship between capitalized costs and proved reserves. Oil and gas properties include costs that are excluded from costs being depleted or amortized. Oil and natural gas property costs excluded represent investments in unevaluated properties and include non-producing leasehold, geological, and geophysical costs associated with leasehold or drilling interests and exploration drilling costs. Costs are transferred to the full cost pool as the properties are evaluated over the life of the reservoir. All items classified as unproved property are assessed on a quarterly basis for possible impairment or reduction in value. Properties are assessed on an individual basis or as a group if properties are individually insignificant. The assessment includes consideration of various factors, including, but not limited to, the following: intent to drill; remaining lease term; geological and geophysical evaluations; drilling results and activity; assignment of proved reserves; and economic viability of development if proved reserves are assigned. During any period in which these factors indicate an impairment, the cumulative drilling costs incurred to date for such property and all or a portion of the associated leasehold costs are transferred to the full cost pool and become subject to amortization.
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. The Company did not recognized impairment expense in the years ended March 31, 2017 and 2016.
Stock Based Compensation	Stock Based Compensation The Company records stock-based compensation in accordance with ASC 718, Compensation – Stock Based Compensation and ASC 505, Equity Based Payments to Non-Employees, using the fair value method. All transactions in which goods or services are the consideration received for the issuance of equity instruments are accounted for based on the fair value of the consideration received or the fair value of the equity instrument issued, whichever is more reliably measurable. Equity instruments issued to employees and the cost of the services received as consideration are measured and recognized based on the fair value of the equity instruments issued.
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, 2017 and 2016 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 prior year amounts have been reclassified to conform with the current year financial statements presentation.
Principles of Consolidation	Principles of Consolidation The consolidated financial statements include the accounts of the Company and its subsidiary. All significant inter-company transactions and balances have been eliminated in consolidation. References herein to the Company include the Company and its subsidiary, unless the context otherwise requires.

NOTE 3 - OIL AND GAS PROPERTI17

NOTE 3 - OIL AND GAS PROPERTIES, UNPROVED (Tables)	12 Months Ended
	Mar. 31, 2017
Note 3 - Oil And Gas Properties Unproved Tables
Schedule of oil and gas properties	Fiscal Year Ended March 31, Acres Leased Annual Lease Commitment 2018 17,306 $43,268 2019 17,306 $43,268 2020 17,306 $43,268 2021 17,306 $40,868

NOTE 4 - INCOME TAXES (Tables)

NOTE 4 - INCOME TAXES (Tables)	12 Months Ended
	Mar. 31, 2017
Income Tax Disclosure [Abstract]
Income Tax Provision (Benefit)	2017 2016 Current: Federal $ - $ - State - - Total current - - Deferred: Federal (27,000 ) (33,000 ) State - - Total deferred (27,000 ) (33,000 ) Increase in valuation allowance 27,000 33,000
Reconciliation of Tax Rates	2017 2016 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	2017 2016 Net operating loss carryover $ 2,177,000 $ 2,150,000 Valuation allowance (2,177,000 ) (2,150,000 ) $ — $ —

NOTE 5 - CONVERTIBLE NOTES PA19

NOTE 5 - CONVERTIBLE NOTES PAYABLE (Tables)	12 Months Ended
	Mar. 31, 2017
Debt Disclosure [Abstract]
Convertible notes payable - related party	Convertible notes payable-related party consists of the following: March 31, 2017 2016 2% convertible notes payable to Ryan Corley, President of the Company, due on demand, convertible into a maximum of 35,878,984 common shares 719,455 704,455 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 519,828 common shares 10,396 10,396 Total notes payable-related party $ 890,101 $ 875,101
Convertible Notes Payable	Convertible notes payable consist of the following: March 31, 2017 2016 7% convertible notes payable to stockholders, which is past due, convertible into a maximum of 500,000 common shares, 100,000 100,000 7% convertible notes payable to stockholders, due August 12, 2018 convertible into a maximum of 250,000 common shares, 50,000 — 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 $ 350,000 $ 300,000

NOTE 8 - STOCK OPTIONS (Tables)

NOTE 8 - STOCK OPTIONS (Tables)	12 Months Ended
	Mar. 31, 2017
Fair Value Disclosures [Abstract]
Status of Company's Stock Options	2017 2016 Options outstanding at beginning of year 2,390,000 2,590,000 Options granted — — Options exercised — — Options canceled/expired (800,000 ) (200,000 ) Options outstanding at end of year 1,590,000 2,390,000
Option Details	Range of Exercise Price Number Outstanding Weighted Average Remaining Contractual Life Years Number Exercisable $ 0.12 1,590,000 0.30 1,590,000
Information about Stock Options	Range of Exercise Price Number Outstanding Weighted Average Remaining Contractual Life Years Number Exercisable $ 0.12 1,590,000 1.30 1,590,000 0.15 500,000 0.65 500,000 0. 50 300,000 0.25 300,000 $ 0.12 – 0.50 2,390,000 1.03 2,390,000

NOTE 2 - SUMMARY OF ACCOUNTIN21

NOTE 2 - SUMMARY OF ACCOUNTING POLICIES (Details Narrative) - USD ($)	12 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Accounting Policies [Abstract]
Depreciation Expense	$ 0	$ 0
Impairment expense	$ 0	$ 0

NOTE 3 - OIL AND GAS PROPERTI22

NOTE 3 - OIL AND GAS PROPERTIES, UNPROVED (Details) - Lease	Dec. 31, 2021USD ($)	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)
Acres Leases	17,306	17,306	17,306	17,306
Annual Lease Commitment	$ 40,868	$ 43,268	$ 43,268	$ 43,268

NOTE 4 - INCOME TAXES - Income

NOTE 4 - INCOME TAXES - Income Tax Provision (Benefit) (Details) - USD ($)	12 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Current:
Federal
State
Total current
Deferred:
Federal	(27,000)	(33,000)
State
Total deferred	(27,000)	(33,000)
Increase in valuation allowance	$ 27,000	$ 33,000

NOTE 4 - INCOME TAXES - Reconci

NOTE 4 - INCOME TAXES - Reconciliation of Tax Rates (Details)	12 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
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 4 - INCOME TAXES - Compone

NOTE 4 - INCOME TAXES - Components of Net Deferred Income Tax Assets (Details) - USD ($)	Mar. 31, 2017	Mar. 31, 2016
Income Tax Disclosure [Abstract]
Net operating loss carryover	$ 2,177,000	$ 2,150,000
Valuation allowance	(2,177,000)	(2,150,000)
Net deferred income tax asset

NOTE 4 - INCOME TAXES (Details

NOTE 4 - INCOME TAXES (Details Narrative)	Mar. 31, 2017USD ($)
Income Tax Disclosure [Abstract]
Net Operating Loss Carry Forwards	$ 6,403,000

NOTE 5 - CONVERTIBLE NOTES PA27

NOTE 5 - CONVERTIBLE NOTES PAYABLE - Convertible notes payable - related party (Details) - USD ($)	12 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Total notes payable-related party	$ 890,101	$ 875,101
2% Convertible notes payable to Ryan Corley, President of the Company, due on demand, convertilbe into a maximum of 35,222,734 common shares
Total notes payable-related party	719,455	704,455
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	$ 10,396

NOTE 5 - CONVERTIBLE NOTES PA28

NOTE 5 - CONVERTIBLE NOTES PAYABLE - Convertible Notes Payable (Details) - USD ($)	Mar. 31, 2017	Mar. 31, 2016
Total notes payable	$ 300,000	$ 300,000
Convertible Note 1
Total notes payable	100,000	100,000
Convertible Note 2
Total notes payable	50,000
Convertible Note 3
Total notes payable	175,000	175,000
Convertible Note 4
Total notes payable	25,000	25,000
Total
Total notes payable	$ 350,000	$ 300,000

NOTE 8 - STOCK OPTIONS - Status

NOTE 8 - STOCK OPTIONS - Status of Company's Stock Options (Details) - USD ($)	12 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Fair Value Disclosures [Abstract]
Options outstanding at beginning of year	2,390,000	2,590,000
Options granted
Options exercised
Options canceled/expired	$ (800,000)	$ (200,000)
Options outstanding at end of year	1,590,000	2,390,000

Note 8 - STOCK OPTIONS - Option

Note 8 - STOCK OPTIONS - Option Details (Details) - $ / shares	12 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2015
Number Outstanding	1,590,000	2,390,000	2,590,000
Option 1
Range of Exercise Price	$ 0.12
Number Outstanding	1,590,000
Weighted Average Remaining Contractual Life Years	1 year 3 months 19 days
Number Exercisable	1,590,000

NOTE 8 - STOCK OPTIONS - Inform

NOTE 8 - STOCK OPTIONS - Information about Stock Options (Details) - $ / shares	12 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2015
Number Outstanding	1,590,000	2,390,000	2,590,000
Maximum [Member]
Range of Exercise Price	$ 0.12
Weighted Average Remaining Contractual Life Years	1 year 11 days
Minimum [Member]
Range of Exercise Price	$ 0.50
Option 1
Range of Exercise Price	$ 0.12
Number Outstanding	1,590,000
Weighted Average Remaining Contractual Life Years	1 year 3 months 19 days
Number Exercisable	1,590,000
Option 3
Range of Exercise Price	$ 0.50
Number Outstanding	300,000
Weighted Average Remaining Contractual Life Years	2 months 30 days
Number Exercisable	300,000
Total
Number Outstanding	2,390,000
Number Exercisable	2,390,000
Option 2
Range of Exercise Price	$ 0.15
Number Outstanding	500,000
Weighted Average Remaining Contractual Life Years	7 months 24 days
Number Exercisable	500,000