Document and Entity Information
Document and Entity Information - shares | 9 Months Ended | |
Dec. 31, 2015 | Jan. 29, 2016 | |
Document And Entity Information | ||
Entity Registrant Name | PCS EDVENTURES COM INC | |
Entity Central Index Key | 1,122,020 | |
Document Type | 10-Q | |
Document Period End Date | Dec. 31, 2015 | |
Amendment Flag | false | |
Current Fiscal Year End Date | --03-31 | |
Entity Filer Category | Smaller Reporting Company | |
Entity Common Stock, Shares Outstanding | 76,530,590 | |
Trading Symbol | PCSV | |
Document Fiscal Period Focus | Q3 | |
Document Fiscal Year Focus | 2,015 |
Balance Sheets
Balance Sheets - USD ($) | Dec. 31, 2015 | Mar. 31, 2015 |
CURRENT ASSETS | ||
Cash | $ 57,820 | $ 130,162 |
Accounts receivable, net of allowance for doubtful accounts of $3,184 and $3,184, respectively | 151,619 | 358,033 |
Prepaid expenses | 54,625 | 112,704 |
Finished goods inventory | 257,170 | 251,164 |
Other receivable | 23,473 | 3,236 |
Total Current Assets | 544,707 | 855,299 |
FIXED ASSETS, net of accumulated depreciation of $152,616 and $144,821, respectively | $ 18,059 | 25,854 |
OTHER ASSETS | ||
Note Receivable, net of allowance of $49,513 | 1,515 | |
Mold cost | 10,229 | |
Deposits | $ 8,096 | 9,450 |
Total Other Assets | 26,155 | 21,194 |
TOTAL ASSETS | 570,862 | 902,347 |
CURRENT LIABILITIES | ||
Accounts payable and other current liabilities | 380,978 | 312,951 |
Payroll liabilities payable | 13,236 | 28,907 |
Accrued expenses | 233,983 | 102,936 |
Deferred revenue | 17,892 | 158,420 |
Note payable, convertible, related party, net of $0 and $24,063 discount as of December 31, 2015 and March 31, 2015, respectively | 200,000 | 175,937 |
Note payable, related party, net discount of $0 and $38,184 | 1,467,679 | $ 1,389,495 |
Current portion of long term liabilities | 149,659 | |
Total Short term and current portion long term notes payable | 1,817,338 | $ 1,565,432 |
Total Current Liabilities | 2,463,427 | 2,168,646 |
Long term debt | 84,725 | 407,105 |
Total Long Term Liabilities | 84,725 | 553,823 |
Total Liabilities | $ 2,548,152 | $ 2,575,751 |
STOCKHOLDERS' EQUITY (DEFICIT) | ||
Preferred stock, no par value, 20,000,000 authorized shares, no shares issued and outstanding | ||
Common stock, no par value, 100,000,000 authorized shares, 76,530,590 and 74,235,284 shares issued and outstanding, respectively | $ 38,246,532 | $ 37,923,485 |
Stock payable | 5,000 | 9,000 |
Restricted Stock Units payable | 1,500 | 12,117 |
Accumulated deficit | (40,230,322) | (39,618,006) |
Total Stockholders' Equity (Deficit) | (1,977,290) | (1,673,404) |
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | $ 570,862 | $ 902,347 |
Balance Sheets (Parenthetical)
Balance Sheets (Parenthetical) - USD ($) | Dec. 31, 2015 | Mar. 31, 2015 |
Statement of Financial Position [Abstract] | ||
Accounts receivable, allowance for doubtful accounts | $ 3,184 | $ 3,184 |
Fixed assets, accumulated depreciation | $ 152,616 | 144,821 |
Allowance for notes receivable | 49,513 | |
Note payable, convertible, related party, discount | $ 0 | 24,063 |
Note payable, related party, net discount | $ 0 | $ 38,184 |
Preferred stock, par value | ||
Preferred stock, shares authorized | 20,000,000 | 20,000,000 |
Preferred stock, shares issued | ||
Preferred stock, shares outstanding | ||
Common stock, par value | ||
Common stock, shares authorized | 100,000,000 | 100,000,000 |
Common stock, shares issued | 76,530,590 | 74,235,284 |
Common stock, shares outstanding | 76,530,590 | 74,235,284 |
Income Statements (Unaudited)
Income Statements (Unaudited) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2015 | Dec. 31, 2014 | |
REVENUES | ||||
Lab revenue | $ 224,662 | $ 314,056 | $ 1,613,195 | $ 1,271,702 |
International service revenue | 47,163 | 385,569 | 336,034 | 890,364 |
Learning Center revenue | 49,273 | 72,853 | 165,003 | 150,672 |
License and royalty revenue | 8,596 | 9,844 | 31,487 | 26,688 |
Total Revenues | 329,694 | 782,322 | 2,145,719 | 2,339,426 |
COST OF SALES | 167,702 | 272,605 | 953,448 | 1,303,027 |
GROSS PROFIT | 161,992 | 509,717 | 1,192,271 | 1,036,399 |
OPERATING EXPENSES | ||||
Salaries and wages | 166,139 | 200,901 | 512,003 | 604,942 |
Depreciation and amortization | 2,598 | 7,117 | 16,915 | 19,699 |
General and administrative expenses | 353,126 | 290,631 | 1,058,868 | 1,071,243 |
Total Operating Expenses | 521,863 | 498,649 | 1,587,786 | 1,695,884 |
OPERATING INCOME (LOSS) | $ (359,871) | 11,068 | $ (395,515) | (659,485) |
OTHER INCOME AND EXPENSES | ||||
Interest income | 3,188 | 3,188 | ||
Interest expense | $ (51,763) | (52,621) | $ (216,801) | (470,211) |
Gain on Bad Debt Collection | 2,996 | 2,996 | ||
Total Other Income and (Expenses) | $ (51,763) | (46,437) | $ (216,801) | (464,027) |
LOSS FROM CONTINUING OPERATIONS | $ (411,634) | $ (35,369) | $ (612,316) | $ (1,123,512) |
LOSS FROM DISCONTINUED OPERATIONS | ||||
NET INCOME/(LOSS) | $ (411,634) | $ (35,369) | $ (612,316) | $ (1,123,512) |
NET COMPREHENSIVE INCOME/(LOSS) | (411,634) | (35,369) | (612,316) | (1,123,512) |
NET LOSS ATTRIBUTABLE TO COMMON SHAREHOLDERS | $ (411,634) | $ (35,369) | $ (612,316) | $ (1,123,512) |
Basic and diluted net income (loss) per common share: | ||||
Basic and diluted net loss per share | $ (0.01) | $ 0 | $ (0.01) | $ (0.02) |
Weighted Average Number of Shares Outstanding, Basic and Diluted | 76,134,002 | 72,855,781 | 75,247,919 | 64,850,290 |
Statement of Stockholders' Equi
Statement of Stockholders' Equity (Deficit) (Unaudited) - 9 months ended Dec. 31, 2015 - USD ($) | Common Stock [Member] | Stock Payable [Member] | Accumulated Deficit [Member] | Total |
Balance at Mar. 31, 2015 | $ 37,923,485 | $ 21,117 | $ (39,618,006) | $ (1,673,404) |
Balance, shares at Mar. 31, 2015 | 74,235,284 | |||
Stock for Services | $ 48,440 | (4,000) | 44,440 | |
Stock for Services, shares | 398,000 | |||
Stock for RSU's | $ 97,845 | $ (10,617) | $ 87,228 | |
Stock for RSU's, shares | 692,300 | |||
Stock for exercise of options and warrants | ||||
Stock for exercise of options and warrants, shares | 19,000 | |||
Stock for cash | $ 8,400 | $ 8,400 | ||
Stock for cash, shares | 120,000 | |||
Conversion of Notes Payable | $ 159,901 | 159,901 | ||
Conversion of Notes Payable, shares | 1,066,006 | |||
Option/Warrant Expense | $ 8,461 | 8,461 | ||
Net Loss | $ (612,316) | (612,316) | ||
Balance at Dec. 31, 2015 | $ 38,246,532 | $ 6,500 | $ (40,230,322) | $ (1,977,290) |
Balance, shares at Dec. 31, 2015 | 76,530,590 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows (Unaudited) - USD ($) | 9 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
CASH FLOWS FROM OPERATING ACTIVITIES | ||
Net Loss | $ (612,316) | $ (1,123,512) |
Adjustments to reconcile net loss to net cash provided (used) by operating activities: | ||
Debt discount amortization | 62,247 | 331,696 |
Depreciation and amortization | 7,792 | 19,699 |
Common stock issued for services | $ 131,668 | 135,312 |
Common stock for settlement | 22,000 | |
Amortization of fair value of stock options | $ 8,461 | 13,035 |
Amortization of brain molds | $ 2,219 | |
Impairment of Brain Molds | $ 9,119 | |
(Gain) on Bad Debt Collection | $ (2,996) | |
Changes in operating assets and liabilities: | ||
(Increase) decrease in accounts receivable | $ 206,414 | 162,483 |
(Increase) decrease in prepaid expenses | 58,079 | 20,873 |
(Increase) decrease in inventories | (6,005) | (60,319) |
(Increase) decrease in other current assets | (18,722) | 639 |
(Increase) decrease in other assets | 2,464 | 862 |
(Decrease) increase in accounts payable and accrued liabilities | 198,935 | (375) |
Increase (decrease) in deferred revenue | (140,528) | (33,941) |
Net Cash Provided (Used) by Operating Activities | $ (92,392) | (512,325) |
CASH FLOWS FROM INVESTING ACTIVITIES | ||
Cash paid for purchase of fixed assets | (33,328) | |
Net Cash Used by Investing Activities | $ (33,328) | |
CASH FLOWS FROM FINANCING ACTIVITIES | ||
Proceeds from sale of stock | $ 8,400 | |
Proceeds from notes payable | $ 20,000 | |
Proceeds from notes payable, related party | $ 997,582 | |
Borrowings on debt | $ 285,000 | |
Principal payments on debt, Convertible debt | (10,000) | |
Principal payments on debt | (263,350) | $ (479,466) |
Net Cash Used by Financing Activities | 20,050 | 538,116 |
Net Increase (Decrease) in Cash | (72,342) | (7,537) |
Cash at Beginning of Period | 130,162 | 27,860 |
Cash at End of Period | 57,820 | $ 20,323 |
NON-CASH INVESTING & FINANCING ACTIVITIES | ||
RSU accrued in prior period and issued in current period | 12,117 | |
Conversion of debt | $ 159,901 | $ 696,374 |
Debt discount | 50,000 | |
Stock payable accrued in prior period and issued in current period | $ 9,000 | 2,080 |
CASH PAID FOR: | ||
Interest | 16,777 | $ 69,225 |
Income Taxes | $ 830 |
Organization and Description of
Organization and Description of Business | 9 Months Ended |
Dec. 31, 2015 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Organization and Description of Business | NOTE 1 - ORGANIZATION AND DESCRIPTION OF BUSINESS The financial statements presented are those of PCS Edventures!.com, Inc., an Idaho corporation (PCS or the Company). In October 1994, PCS exchanged common stock on a one-for-one basis for common stock of PCS Schools, Inc. As a result of this exchange, PCS Schools, Inc. became a wholly-owned subsidiary of PCS. In the late 1990s, the Company divested the stand-alone learning labs to focus on the creation of turn-key lab modules coupled with web-based technology for use in the classroom and afterschool programs. On March 27, 2000, PCS changed its name from PCS Education Systems, Inc. to PCS Edventures!. com, Inc. In August 2001, PCS successfully completed a public offering pursuant to an SB-2 Registration Statement and began trading publicly on the OTC Bulletin Board (OTCBB). On November 30, 2005, PCS entered into an agreement with 511092 N.B. LTD., a Canadian corporation (LabMentors), to exchange PCS common stock for common stock of 511092 N.B. LTD., which exchange was completed in December, 2005, with LabMentors becoming a wholly-owned subsidiary. In December 2005, the name of this subsidiary was formally changed to PCS LabMentors, Ltd. (See Note 17). The Company divested LabMentors in August of 2013. In January, 2012, the Company committed to a business plan enhancement, which included the opening, operating, and licensing of EdventuresLab private learning centers and launched a pilot program in the spring of 2012. As of June 30, 2014, two EdventuresLab programs had been opened and were operating in the Idaho Treasure Valley. On January 31, 2013, PCS formed a subsidiary called Premiere Science, Inc., incorporated and registered in the State of Idaho. The subsidiary is 100% wholly-owned by the Company and was formed to use as an additional sales and marketing tool to gain other business opportunities. There were no operations for this subsidiary during the quarter year ended December 31, 2015. On September 26, 2014, the shareholders voted for the proposal to grant the Board of Directors the authority to change the name of the Company in a fashion that will remove the .com, but retain the current brand. On July 23, 2015, the Board of Directors resolved that the name of the Company be changed to PCS Edventures!, Inc. No amendment to the Companys Articles of Incorporation has yet been filed, though it is anticipated that following the assignment of a new Cusip Number and the required filing with the Financial Industry Regulatory Authority, that this name change will become effective. |
Unaudited Financial Statements
Unaudited Financial Statements | 9 Months Ended |
Dec. 31, 2015 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Unaudited Financial Statements | NOTE 2 - UNAUDITED FINANCIAL STATEMENTS The December 31, 2015, financial statements presented herein are unaudited, and in the opinion of management, include all adjustments (consisting of only normal recurring accruals) necessary for a fair presentation of financial position, results of operations and cash flows. Such financial statements do not include all of the information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America. This Quarterly Report on Form 10-Q should be read in conjunction with the Annual Report on Form 10-K for PCS Edventures!.com for the fiscal year ended March 31, 2015. Certain items for March 31, 2015 have been reclassified to conform to presentation in the third quarter ending December 31, 2015. The operating results for the period ended December 31, 2015 are not necessarily indicative of the results that may be expected for the fiscal year ending March 31, 2016. |
Going Concern
Going Concern | 9 Months Ended |
Dec. 31, 2015 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Going Concern | NOTE 3 - GOING CONCERN The Companys financial statements are prepared using accounting principles generally accepted in the United States of America applicable to a going concern that contemplates the realization of assets and liquidation of liabilities in the normal course of business. The established sources of revenues are not sufficient to cover the Companys operating costs. The Company has accumulated significant losses and payables and generated negative cash flows. The combination of these items raises substantial doubt about its ability to continue as a going concern. The ability of the Company to continue as a going concern is dependent upon its ability to increase revenue, to raise capital as needed, to continue to monitor and reduce overhead costs, and to attain profitable operations. The accompanying consolidated financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern. |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 9 Months Ended |
Dec. 31, 2015 | |
Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies | NOTE 4 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES a. Concentration of Credit Risk The Company extends credit to customers and is therefore subject to credit risk. The Company performs initial and ongoing credit evaluations of its customers financial condition and does not require collateral. An allowance for doubtful accounts is recorded to account for potential bad debts. Estimates are used in determining the allowance for doubtful accounts and are based upon an assessment of selected accounts and as a percentage of remaining accounts receivable by aging category. In determining these percentages, the Company evaluates historical write-offs, and current trends in customer credit quality, as well as changes in credit policies. At December 31, 2015, Tatweer Company for Educational Services and STEMfinity accounted for 34.3% and 52.5% of the Companys accounts receivable, respectively. |
Prepaid Expenses
Prepaid Expenses | 9 Months Ended |
Dec. 31, 2015 | |
Prepaid Expense and Other Assets [Abstract] | |
Prepaid Expenses | NOTE 5 - PREPAID EXPENSES Prepaid expenses for the periods are as follows: December 31, 2015 March 31, 2015 Prepaid insurance $ 19,608 $ 41,372 Prepaid inventory 13,034 50,057 Prepaid software 2,855 10,406 Prepaid expenses, other 19,128 10,869 Total Prepaid Expenses $ 54,625 $ 112,704 |
Fixed Assets
Fixed Assets | 9 Months Ended |
Dec. 31, 2015 | |
Property, Plant and Equipment [Abstract] | |
Fixed Assets | NOTE 6 - FIXED ASSETS Assets and depreciation for the periods are as follows: December 31, 2015 March 31, 2015 Computer/office equipment $ 43,320 $ 43,320 Software 127,355 127,355 A Accumulated depreciation (152,616 ) (144,821 ) Total Fixed Assets $ 18,059 $ 25,854 Fixed asset depreciation expense for the nine months ended December 31, 2015 and 2014 was $16,915 and $19,699 respectively. |
Accrued Expenses
Accrued Expenses | 9 Months Ended |
Dec. 31, 2015 | |
Accounts Payable and Accrued Liabilities, Fair Value Disclosure [Abstract] | |
Accrued Expenses | NOTE 7 - ACCRUED EXPENSES Accrued expenses for the periods are as follows: December 31, 2015 March 31, 2015 Interest payable $ 176,966 $ 68,963 Sales tax payable 276 634 Credit card debt 56,741 31,685 Professional fees: legal, accounting & other - 1,654 Total accrued expenses $ 233,983 $ 102,936 |
Notes Payable
Notes Payable | 9 Months Ended |
Dec. 31, 2015 | |
Debt Disclosure [Abstract] | |
Notes Payable | NOTE 8 - NOTES PAYABLE Notes payable consisted of the following: December 31, 2015 March 31, 2015 Short Term Debt Short Term Convertible Note, Related Party net discount of $0 and $24,063 for period ended December 31, 2015 and March 31, 2015, respectively $ 200,000 $ 175,937 Short Term Note Payable, Related Party, net discount of $0 and $38,184 for period ended December 31, 2015 and March 31, 2015, respectively 1,467,679 1,389,495 Total Short Term Debt 1,667,679 1,565,432 Long Term Debt Long Term Note Payable 14,171 18,117 Line of Credit 18,452 21,708 Long Term Note Payable, Related Party 111,065 130,540 Long Term Convertible Note 90,696 202,729 Long Term Convertible Note, Related Party - 34,011 Long Term Debt 234,384 407,105 Less current portion (149,659 ) - Total Long Term Debt, less current portion $ 84,725 $ 407,105 Long Term Note Payable On May 1, 2014, the Company entered into a 36 month note payable of $20,000. The note bears interest at 12% per annum. Total interest accrued as of December 31, 2015 was $2,430. The Company has paid $5,829 in principal, leaving a remaining balance at December 31, 2015 of $14,171. Line of Credit On September 13, 2011, the Company drew down a line of credit at a financial institution in the amount of $39,050. The line of credit bears interest at 8.75% per annum. The Company makes variable monthly payments. As of Deccember 31, 2015, the Company has paid $20,598 in principal leaving a balance of $18,452 payable. Related Party Debt a. Short term notes payable On October 21, 2014, the Company executed a Promissory Note with one of our shareholders and board members in the amount of $870,457. The note was partially taken out to finance operations and inventory purchases and was partly a combination of the renewal of other notes with the same lender. It was due on May 31, 2015, was non-convertible, had an interest rate of 10% per annum, was secured by accounts receivable, fixed assets, intellectual property, and our net loss carry forward. On January 1, 2015, accrued interest through December 31, 2014, was rolled into the principal balance per the terms and conditions of the Promissory Note. On January 1, 2015, the Promissory Note principal balance was $892,679. The balance was due in full on or before May 31, 2015, and was extended to September 30, 2015, under the terms and conditions of the original Promissory Note. On October 1, 2015, the Promissory Note executed on October 21, 2014, went into default. The lender has provided the Company with extensions of due dates for principal and accrued interest of $89,268, until January 31, 2016. This note due date was subsequently extended. On January 16, 2015, the Company executed a non-convertible Promissory Note with warrants attached, with one of our shareholders and board members, for $400,000 at 10% interest per annum, due June 30, 2015, secured by T4EDU Contract 0006/2017 Work Orders 5, 6, 7, and 8 less Zakat and holdback, to finance operations and inventory purchases. The warrants were valued using the Companys common stock price on the date of grant, discount rates 0.35%, and volatility approximating 180%. The value of the debt discount is accreted up to the face value of the Promissory Note over the term of the note using the effective interest method. This note was extended to January 31, 2016. The debt discount was calculated as $66,717. The remaining $38,184 of the debt discount was amortized during the quarter ending June 30, 2015. The principal balance at December 31, 2015, was $400,000. The lender has provided the Company with extensions of due dates for principal and accrued interest of $20,164, until January 31, 2016. This note due date was subsequently extended. On February 17, 2015, the Company executed a Promissory Note with one of our shareholders and board members, for $135,000 at 10% interest per annum, due June 30, 2015, secured by T4EDU and accounts receivable on completed contracts, to finance operations and inventory purchases. This note was extended to January 31, 2016. There is no conversion feature associated with this Promissory Note. The lender has provided the Company with an extensions of due dates for principal of $135,000 and accrued interest of $11,544, until January 31, 2016. This note due date was subsequently extended. On April 20, 2015, the Company executed a Promissory Note with one of our shareholders and board members, for $135,000 at 10% interest per annum, due June 30, 2015, secured by T4EDU existing AR on completed contracts, to finance operations and inventory purchases. This note was extended to January 31, 2016. Principal payments of $95,000 were made by the Company in September 2015, leaving a $40,000 principal balance outstanding on December 31, 2015. There is no conversion feature associated with this Promissory Note. The lender has provided the Company with an extensions of due dates for principal and accrued interest of $7,037, until January 31, 2016. This note due date was subsequently extended. b. Short term convertible note payable On October 21, 2014, the Company entered into at 10% Convertible Promissory Note with a current board member and shareholder, in the amount of $200,000, convertible into shares of common stock of the Company, at the market price of $0.04. The debt discount was calculated as $50,000. As of December 31, 2015, the entire debt discount of $50,000 was amortized. The note principal balance net of discount at December 31, 2015 was $200,000. The lender has provided the Company with an extensions of due dates for principal and accrued interest of $23,890, until January 31, 2016. This note due date was subsequently extended. c. Long term convertible note In 2011, the Company entered into several convertible Promissory Notes in the aggregate amount of $215,000, including a note in the amount of $34,011 from a related party. The notes are convertible into common stock at a rate of $0.15 per share. The notes bear interest at 10% per annum and include attached warrants to purchase two shares of restricted Rule 144 common stock for every dollar loaned. On July 13, 2015, the related party holder of the convertible notes of the Company elected to convert their note and accrued interest of $5,963 into 266,492 shares of our common stock. Due to conversion within the terms of the note, no gain of loss was recognized. d. Long term note payable On January 13, 2012, the Company entered into two separate Promissory Notes in the amount of $35,000 each for an aggregate amount of $70,000. The notes bear interest at 9% per annum and were previously due and payable on or before January 10, 2013. Minimum monthly payments of 1.5% of the loan balances are required and are submitted to the lenders financial institution. The notes were amended April 1, 2013, and re-written with a new principal amount of $32,100 each for an aggregate amount of $64,200. The notes bear interest at 9% per annum and are due and payable on or before April 1, 2020. The underlying loan requires that the Company pay to the lenders financial institution monthly payments of $1,033 on or before the 1st day of each month, beginning May 1, 2013, and continuing each month in like amounts until the final payment due on April 1, 2020. The Company has paid $19,902 in principal, leaving a balance of $44,298 at December 31, 2015. On April 18, 2012, the Company entered into a long-term Promissory Note with a person who was then an officer and director of the Company for $25,000, with an interest rate of 7.5% per annum. The balance is due in full on or before April 18, 2017. Monthly payments are made for interest only to the lenders financial intuition. On December 31, 2015, a total of $3,908 in principal had been paid, resulting in ending principal amount of $21,092. On April 11, 2014, the Company entered into a 36 month Promissory Note payable of $60,000. The note bears interest at 12% per annum. There is no conversion feature associated with this Promissory Note. The Company has paid $14,356 in principal, leaving a balance of $45,675 at December 31, 2015. Total interest accrued as of December 31, 2015, was $2,208. Long Term Convertible Note In 2011, the Company entered into several convertible Promissory Notes in the aggregate amount of $215,000, including a note in the amount of $34,011 from a related party. The notes are convertible into common stock at a rate of $0.15 per share. The notes bear interest at 10% per annum and include attached warrants to purchase two shares of restricted Rule 144 common stock for every dollar loaned. At the Lenders sole option, Lenders may elect to receive payment of their respective note and all accrued interest in restricted common stock of the Borrower at the price per share of said common stock at the same rate as the warrants. The notes are secured by that portion or percentage of the Borrowers Intellectual Property which the principal amount of the note bears to the fair market value of all Intellectual Property of the Borrower. The notes had an original due date of June 29, 2011 but have been amended to extend the expiration dates to April 30, 2016. As of March 31, 2015, the ending principal balance was $226,740 including the related party convertible note balance of $34,011. On July 13, 2015, the holders of four of the convertible notes of the Company elected to convert those notes into shares of our common stock. The aggregate principal amount of the convertible notes being converted was $136,044. Conversion of the aggregate principal and accrued interest of $23,857 resulted in the issuance of 1,066,006 shares of our common stock. Conversion occurred within the terms of the note, no gain or loss was recognized. As of December 31, 2015, the principal balance of convertible notes payable, to a non-related party, was $90,696. The accrued interest as of December 31, 2015, related to these notes, was $20,425. |
Note Receivable
Note Receivable | 9 Months Ended |
Dec. 31, 2015 | |
Receivables [Abstract] | |
Note Receivable | NOTE 9 - NOTE RECEIVABLE On July 31, 2013, the Company signed a Memorandum of Understanding with a Canadian company owned by Joseph Khoury (JAK), proposing a purchase agreement in which JAK shall purchase LabMentors from PCS for USD $150,000. JAK has agreed to assume 100% of LabMentors outstanding liabilities and to pay the remainder of the USD $150,000 through a note payable. The Company note receivable in the amount of $50,740, carries an annual interest rate of 3% compounded annually and is to be paid over a period of 60 months in equal monthly payments beginning in month 13 of the 60 month period. This sale was finalized during the period ending September 30, 2013. On April 14, 2015, JAK informed PCS of the potential closure of LabMentors and an inability to meet its note |
Commitments and Contingencies
Commitments and Contingencies | 9 Months Ended |
Dec. 31, 2015 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | NOTE 10 - COMMITMENTS AND CONTINGENCIES a. Operating Lease Obligation The Company leases its main office under a non-cancelable lease agreement accounted for as an operating lease. The lease expired in May 2012. This lease was extended for 13 months beginning June 1, 2012. On December 31, 2013, the Company signed an amendment to the existing contract to reduce the leased square feet to 5,412 for $6,765/ month for 12 months ending December 31, 2014. On February 1, 2015, the Company signed a new lease to reduce the square feet to 3,609 for $4,511/ month for the 12 months ending January 31, 2016. Rent expense for the corporate offices was $13,533 and $20,295 for the quarter ended December 31, 2015 and 2014, and $49,467 and $63,684 for the 9 months ended December 31, 2015 and 2014, respectively, under this lease arrangement. The Company leases additional warehouse space in Boise, Idaho. This warehouse space consists of approximately 2,880 square feet. The lease expired in June 2012. This lease was extended for 24 months, beginning July 1, 2012. The Fifth Lease Amendment was entered into for the warehouse space extending the lease period through October 31, 2015. The Company signed a sixth amendment on April 15, 2015, to lease an additional approximately 1400 square foot bay adjacent to the existing leased space. The Company signed a Seventh Lease Amendment on October 28, 2015, leasing the same three bays through April 30, 2016, at the cost of $730 per bay. Rent expense for the warehouse was $6,535 and $2,780 for the quarter ended December 31, 2015 and 2014, and $18,500 and $12,055 for the 9 months ended December 31, 2015 and 2014, respectively, under this lease arrangement. The Company leased an additional learning lab site in Eagle, Idaho, in Q1 of fiscal year 2015. The lease term is three years for 1,050 square feet for an annual base rent of $16,640 or $1,387 per month, with 3% growth per year. b. Litigation Anthony Maher brought suit against PCS in January of 2014, claiming breach of an employment contract, interference with economic expectancy, and fraud. Settlement was agreed in principle during mediation on July 9, 2014, as follows: in exchange for dismissal of the suit, and release of PCS from any liability to Mr. Maher for any and all claims related to Mr. Mahers employment contract with PCS, PCS issued Mr. Maher 400,000 shares of the common stock of PCS, and paid him $50,000. PCS does not admit the allegations or any other wrongdoing, but would rather settle the matter for a modest amount to avoid the expense of defending it in court. The settlement agreement was executed on July 9, 2014. There are no other lawsuits pending involving PCS. On or about May 18, 2015, the Company was named as a co-defendant in a legal action related to one of its employees, alleged to have been driving an automobile negligently while on work related services for the Company, and causing damages to the plaintiffs in the action. The Company has engaged legal counsel to represent it in this matter, and it is not presently in a position to determine what, if any, liability it may have for the actions of its employee, or even whether such employee was negligent in any manner. c. Contingencies On October 14, 2015, the Company received a demand letter alleging patent infringement related to certain of our data processing systems. The Company has responded to this demand and has advised the claimed patent owner that the Company does not own the systems claimed to be used by us in this demand. While the Company believes that no such claimed infringement has occurred, we cannot presently evaluate the potential costs that we might incur in regard to defending any legal action brought against us regarding such claims. |
Stockholders' Equity
Stockholders' Equity | 9 Months Ended |
Dec. 31, 2015 | |
Equity [Abstract] | |
Stockholders' Equity | NOTE 11 - STOCKHOLDERS EQUITY a. Common Stock During the period ended December 31, 2015, the Company expensed $8,461 related to stock options and warrants granted in the current period as well as prior periods. During the period ended December 31, 2015, a related party one warrant holder exercised 120,000 warrants issued on January 11, 2013, at a price of $.07 for a total of $8,400, resulting in 120,000 shares of restricted common stock. During the period ended December 31, 2015, the CEO exercised 25,000 options earned from an ISO agreement dated July 15, 2012, using the cashless option into 19,000 shares of restricted common stock. During the period ended December 31, 2015, the holders of four convertible notes of the Company elected to convert such notes into shares of common stock. The aggregate principal and interest amount of the convertible notes being converted of $159,901 resulted in the issuance of 1,066,006 shares of common stock. Due to conversion within terms of the note, no gain of loss was recognized. During the period ended December 31, 2015, the Company authorized 50,000 shares of common stock for services to employee, Robert Grover. The shares were valued based on fair market price on the date of grant, as of December 31, 2015, $5,000 has been accrued in stock payable. During the period ended December 31, 2015, the Company issued 398,000 shares of common stock for services. The shares were valued based on the fair market price on the date of grant for a total of $48,440. During the period ended December 31, 2015, the Company issued 692,300 in Restricted Stock Units to its non-management directors. These agreements call for payment of current year director fees via issuance of Restricted Stock Units, required continued service through September 30, 2015, and re-election at the September 25, 2015, annual shareholder meeting. The shares were re-valued based on the fair market price on the date of vesting for a total of $97,846. Prior to the issuance, the Company accrued a total of $81,345 payable in Restricted Stock Units to its non-management directors and $9,000 stock payable to a former director. As a result of re-valuation, the Company recognized an additional compensation expense of $7,500. During the same period, the Company accrued $1,500 payable in Restricted Stock Units to its non-management director. Each restricted stock unit is valued at $0.04, based on the closing price of the Companys common stock at the date of grant. These agreements call for payment of current year director fees via issuance of restricted stock units over a vesting period ending September 30, 2016, and reelection at the next annual shareholder meeting. Murali Ranganathan, Britt Ide, Paula LuPriore, and K. Sue Redman resigned from the board between November 1, 2015, to December 10, 2015, forfeiting $10,260. This amount was removed from Restricted Stock Units payable. b. Preferred Stock The Company has 20,000,000 authorized shares of preferred stock. As of December 31, 2015, there are no preferred shares issued or outstanding. |
Basic and Diluted Net Loss Per
Basic and Diluted Net Loss Per Common Share | 9 Months Ended |
Dec. 31, 2015 | |
Earnings Per Share [Abstract] | |
Basic and Diluted Net Loss Per Common Share | NOTE 12 - BASIC AND DILUTED NET LOSS PER COMMON SHARE Basic and diluted net loss per common share for the three month periods ended December 31, 2015 and 2014, are based on 76,134,002 and 72,855,781, respectively, of weighted average common shares outstanding. Basic and diluted net loss per common share for the nine month periods ended December 31, 2015 and 2014, are based on 75,247,919 and 64,850,290, respectively, of weighted average common shares outstanding. No adjustment has been made for any common stock equivalents outstanding because their effects would be antidilutive. |
Dilutive Instruments
Dilutive Instruments | 9 Months Ended |
Dec. 31, 2015 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Dilutive Instruments | NOTE 13 - DILUTIVE INSTRUMENTS Stock Options and Warrants The Company is required to recognize expense of options or similar equity instruments issued to employees using the fair-value-based method of accounting for stock-based payments in compliance with the financial accounting standard pertaining to share-based payments. This standard covers a wide range of share-based compensation arrangements including share options, restricted share plans, performance-based awards, share appreciation rights, and employee share purchase plans. Application of this standard requires significant judgment regarding the assumptions used in the selected option pricing model, including stock price volatility and employee exercise behavior. Most of these inputs are either highly dependent on the current economic environment at the date of grant or forward-looking over the expected term of the award. Total Issued Not Issued Cancelled Executed and Outstanding Exercisable Vested Balance as of March 31, 2015 29,856,655 16,144,450 9,722,210 3,989,995 3,634,995 355,000 Warrants Common Stock Options 575,000 487,782 165,000 (77,782 ) (2,782 ) (75,000 ) Balance as of December 31, 2015 30,431,655 16,632,232 9,887,210 3,912,213 3,632,213 280,000 July 14, 2015, the Company CEO converted 25,000 options using the cashless option into 19,000 shares of restricted common stock issued during the period ended September 30, 2015. The Board of Directors resolved on July 15, 2015, to increase the Company authorized common stock from 90,000,000 shares with no par value to 100,000,000 shares of common stock with no par value. The resolution was ratified on September 25, 2015, by the shareholders at the Annual Meeting. January 1, 2014, the Company granted 40,000 incentive options each to three employees per year for three years. These options were issued as incentive compensation to the employees. The options were valued using the Black-Scholes valuation model. The options have an expected volatility rate of 259.07% calculated using the Company stock price for a three-year period. A risk free interest rate of 0.26% - 0.76% was used to value the options. The total value of these options was $17,726. The options vest over a three year period and are exercisable at a range of $.05 to $0.06 per share, which represented the fair market value at the date of grant in accordance with the 2009 Equity Incentive Plan. As of December 31, 2015, $12,278 of the total value was expensed. $1,473 was expensed in the three months ending December 31, 2015. February 1, 2014, the Company granted 40,000 incentive options to one employee per year for three years. These options were issued as incentive compensation to the employee. The options were valued using the Black-Scholes valuation model. The options have an expected volatility rate of 258.20% calculated using the Company stock price for a three-year period. A risk free interest rate of 0.41% - 0.64% was used to value the options. The total value of these options was $4,701. The options vest over a three-year period and are exercisable at $.04 per share, which represents the fair market value at the date of grant in accordance with the 2009 Equity Incentive Plan. As of December 31, 2015, $2,731 of the total value was expensed. $341 was expensed in the three months ending December 31, 2015. On May 15, 2012, the Company granted 850,000 incentive stock options to an officer, Robert Grover. The expected volatility rate of 223.62% calculated using the Company stock price over the period beginning June 1, 2009, through date of issue. A risk free interest rate of 0.38 % was used to value the options. The options were valued using the Black-Scholes valuation model. The total value of this option was $46,175. The options vest over a three year period and are exercisable at $0.06 per share which represents the fair market value at the date of grant in accordance with the 2009 Equity Incentive Plan. As of June 30, 2015, the entire value of the options was expensed. On November 18, 2015, the Company granted 200,000 stock options to an officer, Robert Grover. The expected volatility rate of 186.52% calculated using the Company stock price over the period beginning November 17, 2015, through date of issue. A risk free interest rate of 0.80 % was used to value the options. The options were valued using the Black-Scholes valuation model. The total value of this option was $14,659. The options vest over a three year period and are exercisable at $0.09 per share which represents the fair market value at the date of grant in accordance with the 2009 Equity Incentive Plan. For the period ending December 31, 2015, $1,757 of the option value was expensed. On July 30, 2015, 120,000 common stock warrants were exercised at a price of $.07 per share for a total of $8,400, resulting in the issuance of 120,000 shares of restricted common stock. |
Subsequent Events
Subsequent Events | 9 Months Ended |
Dec. 31, 2015 | |
Subsequent Events [Abstract] | |
Subsequent Events | NOTE 14 - SUBSEQUENT EVENTS On January 28, 2016, Mr. Hackett, the holder of these Promissory Notes, approved a Note Extension Agreement extending the due dates of the specific Promissory Notes detailed in the Note Table below: Note Table Note Holder Original Principal Balance Principal 11/30/15 Origination Date Original Due Date Amended Due Date Interest Rate Todd Hackett $ 870,457 $ 892,679 10/21/14 05/31/15 2/29/2016 10 % Todd Hackett $ 400,000 $ 400,000 01/16/15 06/30/15 2/29/2016 10 % Todd Hackett $ 135,000 $ 135,000 2/17 & 3/5/15 06/30/15 2/29/2016 10 % Todd Hackett $ 135,000 $ 40,000 04/20/15 06/30/15 2/29/2016 10 % Todd Hackett $ 200,000 $ 200,000 10/21/2014 10/22/15 2/29/2016 10 % On February 6, 2016, the Company entered into at 10% Promissory Note with a current board member, CEO and shareholder, Todd Hackett in the amount of $100,000, secured by accounts receivable and NOL carry forward to finance operations and inventory purchases, due |
Summary of Significant Accoun21
Summary of Significant Accounting Policies (Policies) | 9 Months Ended |
Dec. 31, 2015 | |
Accounting Policies [Abstract] | |
Concentration of Credit Risk | a. Concentration of Credit Risk The Company extends credit to customers and is therefore subject to credit risk. The Company performs initial and ongoing credit evaluations of its customers financial condition and does not require collateral. An allowance for doubtful accounts is recorded to account for potential bad debts. Estimates are used in determining the allowance for doubtful accounts and are based upon an assessment of selected accounts and as a percentage of remaining accounts receivable by aging category. In determining these percentages, the Company evaluates historical write-offs, and current trends in customer credit quality, as well as changes in credit policies. At December 31, 2015, Tatweer Company for Educational Services and STEMfinity accounted for 34.3% and 52.5% of the Companys accounts receivable, respectively. |
Prepaid Expenses (Tables)
Prepaid Expenses (Tables) | 9 Months Ended |
Dec. 31, 2015 | |
Prepaid Expense and Other Assets [Abstract] | |
Schedule of Prepaid Expenses | Prepaid expenses for the periods are as follows: December 31, 2015 March 31, 2015 Prepaid insurance $ 19,608 $ 41,372 Prepaid inventory 13,034 50,057 Prepaid software 2,855 10,406 Prepaid expenses, other 19,128 10,869 Total Prepaid Expenses $ 54,625 $ 112,704 |
Fixed Assets (Tables)
Fixed Assets (Tables) | 9 Months Ended |
Dec. 31, 2015 | |
Property, Plant and Equipment [Abstract] | |
Schedule of Fixed Assets | Assets and depreciation for the periods are as follows: December 31, 2015 March 31, 2015 Computer/office equipment $ 43,320 $ 43,320 Software 127,355 127,355 A Accumulated depreciation (152,616 ) (144,821 ) Total Fixed Assets $ 18,059 $ 25,854 |
Accrued Expenses (Tables)
Accrued Expenses (Tables) | 9 Months Ended |
Dec. 31, 2015 | |
Accounts Payable and Accrued Liabilities, Fair Value Disclosure [Abstract] | |
Schedule of Accrued Expenses | Accrued expenses for the periods are as follows: December 31, 2015 March 31, 2015 Interest payable $ 176,966 $ 68,963 Sales tax payable 276 634 Credit card debt 56,741 31,685 Professional fees: legal, accounting & other - 1,654 Total accrued expenses $ 233,983 $ 102,936 |
Notes Payable (Tables)
Notes Payable (Tables) | 9 Months Ended |
Dec. 31, 2015 | |
Debt Disclosure [Abstract] | |
Schedule of Notes Payable | Notes payable consisted of the following: December 31, 2015 March 31, 2015 Short Term Debt Short Term Convertible Note, Related Party net discount of $0 and $24,063 for period ended December 31, 2015 and March 31, 2015, respectively $ 200,000 $ 175,937 Short Term Note Payable, Related Party, net discount of $0 and $38,184 for period ended December 31, 2015 and March 31, 2015, respectively 1,467,679 1,389,495 Total Short Term Debt 1,667,679 1,565,432 Long Term Debt Long Term Note Payable 14,171 18,117 Line of Credit 18,452 21,708 Long Term Note Payable, Related Party 111,065 130,540 Long Term Convertible Note 90,696 202,729 Long Term Convertible Note, Related Party - 34,011 Long Term Debt 234,384 407,105 Less current portion (149,659 ) - Total Long Term Debt, less current portion $ 84,725 $ 407,105 |
Dilutive Instruments (Tables)
Dilutive Instruments (Tables) | 9 Months Ended |
Dec. 31, 2015 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Schedule of Stock-Based Payment Awards | Total Issued Not Issued Cancelled Executed and Outstanding Exercisable Vested Balance as of March 31, 2015 29,856,655 16,144,450 9,722,210 3,989,995 3,634,995 355,000 Warrants Common Stock Options 575,000 487,782 165,000 (77,782 ) (2,782 ) (75,000 ) Balance as of December 31, 2015 30,431,655 16,632,232 9,887,210 3,912,213 3,632,213 280,000 |
Subsequent Events (Tables)
Subsequent Events (Tables) | 9 Months Ended |
Dec. 31, 2015 | |
Subsequent Events [Abstract] | |
Schedule of Promissory Notes | On January 28, 2016, Mr. Hackett, the holder of these Promissory Notes, approved a Note Extension Agreement extending the due dates of the specific Promissory Notes detailed in the Note Table below: Note Table Note Holder Original Principal Balance Principal 11/30/15 Origination Date Original Due Date Amended Due Date Interest Rate Todd Hackett $ 870,457 $ 892,679 10/21/14 05/31/15 2/29/2016 10 % Todd Hackett $ 400,000 $ 400,000 01/16/15 06/30/15 2/29/2016 10 % Todd Hackett $ 135,000 $ 135,000 2/17 & 3/5/15 06/30/15 2/29/2016 10 % Todd Hackett $ 135,000 $ 40,000 04/20/15 06/30/15 2/29/2016 10 % Todd Hackett $ 200,000 $ 200,000 10/21/2014 10/22/15 2/29/2016 10 % |
Organization and Description 28
Organization and Description of Business (Details Narrative) | Jan. 31, 2013 |
Premiere Science Inc [Member] | |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |
Percentage of subsidiary wholly owned by company | 100.00% |
Summary of Significant Accoun29
Summary of Significant Accounting Policies (Details Narrative) - Accounts Receivable [Member] - Tatweer Company [Member] | 9 Months Ended |
Dec. 31, 2015 | |
Educational Services [Member] | |
Percentage of accounts receivable | 34.30% |
STEMfinity [Member] | |
Percentage of accounts receivable | 52.50% |
Prepaid Expenses - Schedule of
Prepaid Expenses - Schedule of Prepaid Expenses (Details) - USD ($) | Dec. 31, 2015 | Mar. 31, 2015 |
Prepaid Expense and Other Assets [Abstract] | ||
Prepaid insurance | $ 19,608 | $ 41,372 |
Prepaid inventory | 13,034 | 50,057 |
Prepaid software | 2,855 | 10,406 |
Prepaid expenses, other | 19,128 | 10,869 |
Total Prepaid Expenses | $ 54,625 | $ 112,704 |
Fixed Assets (Details Narrative
Fixed Assets (Details Narrative) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2015 | Dec. 31, 2014 | |
Property, Plant and Equipment [Abstract] | ||||
Fixed asset depreciation expense | $ 2,598 | $ 7,117 | $ 16,915 | $ 19,699 |
Fixed Assets - Schedule of Fixe
Fixed Assets - Schedule of Fixed Assets (Details) - USD ($) | Dec. 31, 2015 | Mar. 31, 2015 |
Accumulated depreciation | $ (152,616) | $ (144,821) |
Total Fixed Assets | 18,059 | 25,854 |
Computer And Office Equipment [Member] | ||
Fixed Assets | 43,320 | 43,320 |
Educational Software [Member] | ||
Fixed Assets | $ 127,355 | $ 127,355 |
Accrued Expenses - Schedule of
Accrued Expenses - Schedule of Accrued Expenses (Details) - USD ($) | Dec. 31, 2015 | Mar. 31, 2015 |
Accounts Payable and Accrued Liabilities, Fair Value Disclosure [Abstract] | ||
Interest payable | $ 176,966 | $ 68,963 |
Sales tax payable | 276 | 634 |
Credit card debt | $ 56,741 | 31,685 |
Professional fees: legal, accounting & other | 1,654 | |
Total accrued expenses | $ 233,983 | $ 102,936 |
Notes Payable (Details Narrativ
Notes Payable (Details Narrative) - USD ($) | Jul. 13, 2015 | Apr. 20, 2015 | Feb. 17, 2015 | Jan. 16, 2015 | Jan. 01, 2015 | Oct. 21, 2014 | May. 01, 2014 | Apr. 11, 2014 | May. 01, 2013 | Apr. 02, 2013 | Apr. 18, 2012 | Jan. 13, 2012 | Dec. 31, 2011 | Jun. 30, 2015 | Dec. 31, 2015 | Dec. 31, 2014 | Oct. 02, 2015 | Jul. 30, 2015 | Mar. 31, 2015 | Sep. 13, 2011 |
Accrued interest | $ 176,966 | $ 68,963 | ||||||||||||||||||
Debt discount | 0 | 38,184 | ||||||||||||||||||
Amortization of debt discount | 62,247 | $ 331,696 | ||||||||||||||||||
Debt convertible into shares of common stock amount | 159,901 | |||||||||||||||||||
Convertible note payable, related party | 200,000 | 175,937 | ||||||||||||||||||
Warrant [Member] | ||||||||||||||||||||
Number of warrants issued to purchase of restricted common stock | 120,000 | |||||||||||||||||||
Promissory Note [Member] | ||||||||||||||||||||
Debt principal amount | $ 892,679 | |||||||||||||||||||
Debt due date | May 31, 2015 | |||||||||||||||||||
Debt extended due date | Sep. 30, 2015 | |||||||||||||||||||
Debt principle and accrued interest amount | $ 89,268 | |||||||||||||||||||
Shareholders And Board [Member] | Promissory Note [Member] | ||||||||||||||||||||
Debt interest rate per annum | 10.00% | 10.00% | ||||||||||||||||||
Accrued interest | 11,544 | |||||||||||||||||||
Debt principal amount | $ 135,000 | $ 870,457 | 135,000 | |||||||||||||||||
Debt due date | Jun. 30, 2015 | May 31, 2015 | ||||||||||||||||||
Debt extended due date | Jan. 31, 2016 | |||||||||||||||||||
Shareholders And Board [Member] | Non-Convertible Promissory Note [Member] | ||||||||||||||||||||
Debt interest rate per annum | 10.00% | |||||||||||||||||||
Accrued interest | 20,164 | |||||||||||||||||||
Debt principal amount | $ 400,000 | $ 400,000 | ||||||||||||||||||
Debt due date | Jun. 30, 2015 | Jun. 30, 2015 | ||||||||||||||||||
Debt extended due date | Jan. 31, 2016 | |||||||||||||||||||
Amortization of debt discount | $ 66,717 | $ 38,184 | ||||||||||||||||||
Shareholders And Board [Member] | Non-Convertible Promissory Note [Member] | Warrant [Member] | ||||||||||||||||||||
Fair value asumption of discount rate | 0.35% | |||||||||||||||||||
Fair value asumption of volatility rate | 180.00% | |||||||||||||||||||
Shareholders And Board [Member] | Promissory Note One [Member] | ||||||||||||||||||||
Debt interest rate per annum | 10.00% | |||||||||||||||||||
Accrued interest | $ 7,037 | |||||||||||||||||||
Debt principal amount | $ 135,000 | 40,000 | ||||||||||||||||||
Debt due date | Jun. 30, 2015 | |||||||||||||||||||
Debt extended due date | Jan. 31, 2016 | |||||||||||||||||||
Debt principle and accrued interest amount | 95,000 | |||||||||||||||||||
Current Board Member And Shareholder [Member] | Short Term Convertible Note Payable [Member] | ||||||||||||||||||||
Debt interest rate per annum | 10.00% | |||||||||||||||||||
Accrued interest | 23,890 | |||||||||||||||||||
Debt principal amount | $ 200,000 | |||||||||||||||||||
Debt extended due date | Jan. 31, 2016 | |||||||||||||||||||
Debt discount | $ 50,000 | |||||||||||||||||||
Amortization of debt discount | $ 50,000 | |||||||||||||||||||
Debt convertible into shares of common stock amount | $ 200,000 | |||||||||||||||||||
Debt conversion price per share | $ 0.04 | |||||||||||||||||||
Long Term Note Payable [Member] | ||||||||||||||||||||
Debt maturity term | 36 months | |||||||||||||||||||
Note payable | $ 20,000 | $ 70,000 | 14,171 | |||||||||||||||||
Debt interest rate per annum | 12.00% | 9.00% | 9.00% | |||||||||||||||||
Paid note payable principal amount | 5,829 | |||||||||||||||||||
Accrued interest | 2,430 | |||||||||||||||||||
Debt principal amount | $ 64,200 | |||||||||||||||||||
Debt due date | Apr. 1, 2020 | Jan. 10, 2013 | ||||||||||||||||||
Percentage of minimum monthly payments of loan | 1.5% | |||||||||||||||||||
Long Term Note Payable [Member] | Debt Instrument, Redemption, Period One [Member] | ||||||||||||||||||||
Debt due date | Apr. 1, 2020 | |||||||||||||||||||
Debt monthly payments | $ 1,033 | |||||||||||||||||||
Line of Credit [Member] | ||||||||||||||||||||
Debt interest rate per annum | 8.75% | |||||||||||||||||||
Line of credit | 18,452 | $ 39,050 | ||||||||||||||||||
Paid line of credit principal amount | 20,598 | |||||||||||||||||||
Long Term Convertible Note [Member] | ||||||||||||||||||||
Debt interest rate per annum | 10.00% | |||||||||||||||||||
Accrued interest | 20,425 | |||||||||||||||||||
Debt principal amount | $ 136,044 | $ 215,000 | 90,696 | 226,740 | ||||||||||||||||
Debt due date | Jun. 29, 2011 | |||||||||||||||||||
Debt extended due date | Apr. 30, 2016 | |||||||||||||||||||
Debt convertible into shares of common stock amount | $ 23,857 | |||||||||||||||||||
Debt converted into shares of common stock | 1,066,006 | 0.15 | ||||||||||||||||||
Convertible note payable, related party | $ 34,011 | $ 34,011 | ||||||||||||||||||
Long Term Convertible Note [Member] | Restricted Stock [Member] | ||||||||||||||||||||
Number of warrants issued to purchase of restricted common stock | 2 | |||||||||||||||||||
Long Term Convertible Note [Member] | Current Board Member And Shareholder [Member] | ||||||||||||||||||||
Debt interest rate per annum | 10.00% | |||||||||||||||||||
Debt principal amount | $ 215,000 | |||||||||||||||||||
Debt convertible into shares of common stock amount | $ 5,963 | |||||||||||||||||||
Debt conversion price per share | $ 0.15 | |||||||||||||||||||
Note payable to related party | $ 34,011 | |||||||||||||||||||
Debt converted into shares of common stock | 266,492 | |||||||||||||||||||
Amount of gain loss recognized on debt conversion | $ 0 | |||||||||||||||||||
Long Term Convertible Note [Member] | Current Board Member And Shareholder [Member] | Restricted Stock [Member] | ||||||||||||||||||||
Number of warrants issued to purchase of restricted common stock | 2 | |||||||||||||||||||
Long Term Note Payable One [Member] | ||||||||||||||||||||
Note payable | $ 35,000 | |||||||||||||||||||
Debt principal amount | $ 32,100 | |||||||||||||||||||
Long Term Note Payable Two [Member] | ||||||||||||||||||||
Note payable | $ 35,000 | |||||||||||||||||||
Debt principal amount | $ 32,100 | |||||||||||||||||||
Two Separate Promissory Notes [Member] | ||||||||||||||||||||
Note payable | 44,298 | |||||||||||||||||||
Paid note payable principal amount | 19,902 | |||||||||||||||||||
Long-term Promissory Note [Member] | Officer And Director [Member] | ||||||||||||||||||||
Note payable | $ 25,000 | |||||||||||||||||||
Debt interest rate per annum | 7.50% | |||||||||||||||||||
Paid note payable principal amount | 3,908 | |||||||||||||||||||
Debt principal amount | 21,092 | |||||||||||||||||||
Debt due date | Apr. 18, 2017 | |||||||||||||||||||
Promissory Note Payable [Member] | ||||||||||||||||||||
Debt maturity term | 36 months | |||||||||||||||||||
Note payable | $ 60,000 | 45,676 | ||||||||||||||||||
Debt interest rate per annum | 12.00% | |||||||||||||||||||
Paid note payable principal amount | 14,356 | |||||||||||||||||||
Accrued interest | $ 2,208 |
Notes Payable - Schedule of Not
Notes Payable - Schedule of Notes Payable (Details) - USD ($) | Dec. 31, 2015 | Mar. 31, 2015 |
Total Short Term Debt | $ 1,667,679 | $ 1,565,432 |
Long Term Debt | 234,384 | $ 407,105 |
Less current portion | (149,659) | |
Total Long Term Debt, less current portion | 84,725 | $ 407,105 |
Long Term Note Payable [Member] | ||
Long Term Debt | 14,171 | 18,117 |
Line of Credit [Member] | ||
Long Term Debt | 18,452 | 21,708 |
Long Term Note Payable, Related Party [Member] | ||
Long Term Debt | 111,065 | 130,540 |
Long Term Convertible Note [Member] | ||
Long Term Debt | $ 90,696 | 202,729 |
Long Term Convertible Note, Related Party [Member] | ||
Long Term Debt | 34,011 | |
Short Term Convertible Note, Related Party Net Discount Of $0 And $24,063 For Period Ended December 31, 2015 And March 31, 2015, Respectively [Member] | ||
Total Short Term Debt | $ 200,000 | 175,937 |
Short Term Note Payable, Related Party, Net Discount Of $0 And $38,184 For Period Ended December 31, 2015 And March 31, 2015, Respectively [Member] | ||
Total Short Term Debt | $ 1,467,679 | $ 1,389,495 |
Notes Payable - Schedule of N36
Notes Payable - Schedule of Notes Payable (Details) (Parenthetical) - USD ($) | Dec. 31, 2015 | Mar. 31, 2015 |
Debt unamortized discount | $ 0 | $ 38,184 |
Short Term Convertible Note, Related Party Net Discount Of $0 And $24,063 For Period Ended December 31, 2015 And March 31, 2015, Respectively [Member] | ||
Debt unamortized discount | 0 | 24,063 |
Short Term Note Payable, Related Party, Net Discount Of $0 And $38,184 For Period Ended December 31, 2015 And March 31, 2015, Respectively [Member] | ||
Debt unamortized discount | $ 0 | $ 38,184 |
Note Receivable (Details Narrat
Note Receivable (Details Narrative) - USD ($) | Apr. 14, 2015 | Jul. 31, 2013 | Dec. 31, 2015 |
Note receivable principal balance | $ 49,513 | ||
Note receivable allowance balance | $ 49,513 | ||
LabMentors [Member] | |||
Proposed sale price of subsidiary | $ 150,000 | ||
Percentage of outstanding liabilities | 100.00% | ||
Note payable | $ 150,000 | ||
Note receivable | $ 50,740 | ||
Notes payable, interest rate | 3.00% | ||
Term of note payable | 60 months | ||
Payment of note receivable | $ 3,399 |
Commitments and Contingencies (
Commitments and Contingencies (Details Narrative) | Oct. 28, 2015USD ($) | Feb. 01, 2015USD ($)ft² | Dec. 31, 2013USD ($)ft² | Jan. 31, 2014USD ($)shares | Dec. 31, 2015USD ($)ft² | Jun. 30, 2015USD ($)ft² | Dec. 31, 2014USD ($) | Dec. 31, 2015USD ($)ft² | Dec. 31, 2014USD ($) | Apr. 15, 2015ft² |
Area of property leased | ft² | 3,609 | 5,412 | ||||||||
Rent expense | $ 4,511 | $ 6,765 | ||||||||
Anthony Maher [Member] | ||||||||||
Shares of the common stock that will be issued | shares | 400,000 | |||||||||
Amount paid to related party | $ 50,000 | |||||||||
Corporate Offices [Member] | ||||||||||
Rent expense | $ 13,533 | $ 20,295 | $ 49,467 | $ 63,684 | ||||||
Warehouse [Member] | ||||||||||
Area of property leased | ft² | 2,880 | 2,880 | 1,400 | |||||||
Rent expense | $ 6,535 | $ 2,780 | $ 18,500 | $ 12,055 | ||||||
Lease expired date | Apr. 30, 2016 | Jun. 30, 2012 | ||||||||
Lease extended term | 24 months | |||||||||
Lease extended new expiration date | Oct. 31, 2015 | |||||||||
Lease payment per bay | $ 730 | |||||||||
Learning Lab Site [Member] | ||||||||||
Area of property leased | ft² | 1,050 | |||||||||
Lease term | 3 years | |||||||||
Annual base rent | $ 16,640 | |||||||||
Annual base rent per month | $ 1,387 | |||||||||
Growth rate per year (as a percent) | 3.00% |
Stockholders' Equity (Details N
Stockholders' Equity (Details Narrative) - USD ($) | 9 Months Ended | 11 Months Ended | 12 Months Ended |
Dec. 31, 2015 | Dec. 10, 2015 | Mar. 31, 2015 | |
Number of options exercised | 9,887,210 | 9,722,210 | |
Shares were valued based on fair market price | $ 44,440 | ||
Preferred stock, shares authorized | 20,000,000 | 20,000,000 | |
Preferred stock, shares issued | |||
Preferred stock, shares outstanding | |||
Four Convertible Notes [Member] | |||
Stock issued during period convertible notes being converted amount | $ 159,901 | ||
Number of shares issuance of common stock during period | 1,066,006 | ||
Robert Grover [Member] | |||
Number of common stock for services | 50,000 | ||
Shares were valued based on fair market price | $ 5,000 | ||
Non-Management Directors [Member] | |||
Number of shares issued in restricted stock units | 692,300 | ||
Re-valued based on the fair market price on the date of vesting total | $ 97,846 | ||
Accrued payable in restricted stock units | 81,345 | ||
Additional compensation expense | 7,500 | ||
Former Director [Member] | |||
Accrued payable in restricted stock units | 9,000 | ||
Non-Management Director [Member] | |||
Accrued payable in restricted stock units | $ 1,500 | ||
Restricted stock unit valued at per share price | $ 0.04 | ||
Murali Ranganathan, Britt Ide, Paula LuPriore, K. Sue Redman [Member] | |||
Forfeiting value | $ 10,260 | ||
Common Stock [Member] | |||
Expense stock option and warrants granted | $ 8,461 | ||
Number of options exercised | 25,000 | ||
Number of shares using cashless option into shares of common stock | 19,000 | ||
Number of common stock for services | 398,000 | ||
Shares were valued based on fair market price | $ 48,440 | ||
Common Stock [Member] | Related Party One Warrant Holder [Member] | |||
Number of warrants exercised | 120,000 | ||
Warrant issued date | Jan. 11, 2013 | ||
Warrant price | $ 0.07 | ||
Issued warrant total | $ 8,400 | ||
Number of warrant resulting in restricted shares of common stock | 120,000 |
Basic and Diluted Net Loss Pe40
Basic and Diluted Net Loss Per Common Share (Details Narrative) - shares | 3 Months Ended | 9 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2015 | Dec. 31, 2014 | |
Earnings Per Share [Abstract] | ||||
Weighted Average Number of Shares Outstanding, Basic and Diluted | 76,134,002 | 72,855,781 | 75,247,919 | 64,850,290 |
Dilutive Instruments (Details N
Dilutive Instruments (Details Narrative) | Nov. 18, 2015USD ($)$ / sharesshares | Jul. 30, 2015USD ($)$ / sharesshares | Jul. 14, 2015shares | Feb. 01, 2014USD ($)Employees$ / sharesshares | Jan. 01, 2014USD ($)Employees$ / sharesshares | May. 15, 2012USD ($)$ / sharesshares | Dec. 31, 2015USD ($)shares | Dec. 31, 2015USD ($)shares | Mar. 31, 2015shares | Jul. 15, 2015shares |
Options exercised | 9,887,210 | 9,722,210 | ||||||||
Common stock, shares authorized | 100,000,000 | 100,000,000 | 100,000,000 | 90,000,000 | ||||||
Option granted | 30,431,655 | 29,856,655 | ||||||||
Warrant [Member] | ||||||||||
Warrant price | $ / shares | $ 0.07 | |||||||||
Number of warrants exercised | 120,000 | |||||||||
Proceeds from issuance of warrants | $ | $ 8,400 | |||||||||
Number of restricted common stock shares issued | 120,000 | |||||||||
Transaction One [Member] | ||||||||||
Option granted | 40,000 | |||||||||
Number of employees to whom options were granted | Employees | 3 | |||||||||
Options vesting period | 3 years | |||||||||
Expected volatility rate | 259.07% | |||||||||
Risk free interest rate, minimum | 0.26% | |||||||||
Risk free interest rate, maximum | 0.76% | |||||||||
Share-based compensation arrangement by share-based payment award, options value | $ | $ 17,726 | |||||||||
Options expense | $ | $ 1,473 | $ 12,278 | ||||||||
Transaction Two [Member] | ||||||||||
Option granted | 40,000 | |||||||||
Number of employees to whom options were granted | Employees | 1 | |||||||||
Options vesting period | 3 years | |||||||||
Expected volatility rate | 258.20% | |||||||||
Risk free interest rate, minimum | 0.41% | |||||||||
Risk free interest rate, maximum | 0.64% | |||||||||
Share-based compensation arrangement by share-based payment award, options value | $ | $ 4,701 | |||||||||
Weighted-average exercise price per share, granted | $ / shares | $ 0.04 | |||||||||
Options expense | $ | $ 341 | 2,731 | ||||||||
Transaction Three [Member] | ||||||||||
Option granted | 850,000 | |||||||||
Expected volatility rate | 223.62% | |||||||||
Share-based compensation arrangement by share-based payment award, options value | $ | $ 46,175 | |||||||||
Weighted-average exercise price per share, granted | $ / shares | $ 0.06 | |||||||||
Risk free interest rate | 0.38% | |||||||||
Transaction Four [Member] | ||||||||||
Option granted | 200,000 | |||||||||
Expected volatility rate | 186.52% | |||||||||
Share-based compensation arrangement by share-based payment award, options value | $ | $ 14,659 | |||||||||
Weighted-average exercise price per share, granted | $ / shares | $ 0.09 | |||||||||
Options expense | $ | $ 1,757 | |||||||||
Risk free interest rate | 0.80% | |||||||||
Maximum [Member] | ||||||||||
Common stock, shares authorized | 100,000,000 | |||||||||
Maximum [Member] | Transaction One [Member] | ||||||||||
Weighted-average exercise price per share, granted | $ / shares | $ 0.06 | |||||||||
Minimum [Member] | Transaction One [Member] | ||||||||||
Weighted-average exercise price per share, granted | $ / shares | $ 0.05 | |||||||||
CEO [Member] | ||||||||||
Options exercised | 25,000 | |||||||||
Shares of restricted common stock issued upon exercise of options | 19,000 |
Dilutive Instruments - Schedule
Dilutive Instruments - Schedule of Stock-Based Payment Awards (Details) - shares | 9 Months Ended | 12 Months Ended |
Dec. 31, 2015 | Mar. 31, 2015 | |
Stock Options and Warrants, Issued | 30,431,655 | 29,856,655 |
Stock Options and Warrants, Cancelled | 16,632,232 | 16,144,450 |
Stock Options and Warrants, Executed | 9,887,210 | 9,722,210 |
Stock Options and Warrants, Total Issued and Outstanding | 3,912,213 | 3,989,995 |
Stock Options and Warrants, Exercisable | 3,632,213 | 3,634,995 |
Stock Options and Warrants, Not Vested | 280,000 | 355,000 |
Warrant [Member] | ||
Stock Options and Warrants, Issued | ||
Stock Options and Warrants, Cancelled | ||
Stock Options and Warrants, Executed | ||
Stock Options and Warrants, Total Issued and Outstanding | ||
Stock Options and Warrants, Exercisable | ||
Stock Options and Warrants, Not Vested | ||
Common Stock Options [Member] | ||
Stock Options and Warrants, Issued | 575,000 | |
Stock Options and Warrants, Cancelled | 487,782 | |
Stock Options and Warrants, Executed | 165,000 | |
Stock Options and Warrants, Total Issued and Outstanding | (77,782) | |
Stock Options and Warrants, Exercisable | (2,782) | |
Stock Options and Warrants, Not Vested | (75,000) |
Subsequent Events (Details Narr
Subsequent Events (Details Narrative) - Subsequent Event [Member] - Promissory Note [Member] - Todd Hackett [Member] | Feb. 06, 2016USD ($) |
Interest Rate | 10.00% |
Principal | $ 100,000 |
Original Due Date | Feb. 29, 2016 |
Subsequent Events - Schedule of
Subsequent Events - Schedule of Promissory Notes (Details) - Subsequent Event [Member] - Todd Hackett [Member] | Jan. 28, 2016USD ($) |
Notes Payable One [Member] | |
Original principal balance | $ 870,457 |
Principal | $ 892,679 |
Origination Date | 10/21/14 |
Original Due Date | May 31, 2015 |
Amended Due Date | 2/29/2016 |
Interest Rate | 10.00% |
Notes Payable Two [Member] | |
Original principal balance | $ 400,000 |
Principal | $ 400,000 |
Origination Date | 01/16/15 |
Original Due Date | Jun. 30, 2015 |
Amended Due Date | 2/29/2016 |
Interest Rate | 10.00% |
Notes Payable Three [Member] | |
Original principal balance | $ 135,000 |
Principal | $ 135,000 |
Origination Date | 2/17 & 3/5/15 |
Original Due Date | Jun. 30, 2015 |
Amended Due Date | 2/29/2016 |
Interest Rate | 10.00% |
Notes Payable Four [Member] | |
Original principal balance | $ 135,000 |
Principal | $ 40,000 |
Origination Date | 04/20/15 |
Original Due Date | Jun. 30, 2015 |
Amended Due Date | 2/29/2016 |
Interest Rate | 10.00% |
Notes Payable Five [Member] | |
Original principal balance | $ 200,000 |
Principal | $ 200,000 |
Origination Date | 10/21/2014 |
Original Due Date | Oct. 22, 2015 |
Amended Due Date | 2/29/2016 |
Interest Rate | 10.00% |