Document and Entity Information
Document and Entity Information - USD ($) | 12 Months Ended | ||
Mar. 31, 2016 | Jun. 20, 2016 | Sep. 30, 2015 | |
Document And Entity Information | |||
Entity Registrant Name | PCS EDVENTURES COM INC | ||
Entity Central Index Key | 1,122,020 | ||
Document Type | 10-K | ||
Document Period End Date | Mar. 31, 2016 | ||
Amendment Flag | false | ||
Current Fiscal Year End Date | --03-31 | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Filer Category | Smaller Reporting Company | ||
Entity Public Float | $ 7,659,489 | ||
Entity Common Stock, Shares Outstanding | 82,280,682 | ||
Trading Symbol | PCSV | ||
Document Fiscal Period Focus | FY | ||
Document Fiscal Year Focus | 2,016 |
Balance Sheets
Balance Sheets - USD ($) | Mar. 31, 2016 | Mar. 31, 2015 |
CURRENT ASSETS | ||
Cash | $ 54,357 | $ 130,162 |
Accounts receivable, net of allowance for doubtful accounts of $2,096 and $3,184, respectively | 752,922 | 358,033 |
Prepaid expenses | 66,228 | 112,704 |
Finished goods inventory | 192,527 | 251,164 |
Other receivable | 33,319 | $ 3,236 |
Intangible Assets, Net | 87,523 | |
Total Current Assets | 1,186,876 | $ 855,299 |
FIXED ASSETS, net of accumulated depreciation of $155,307 and $144,821, respectively | 18,680 | $ 25,854 |
GOODWILL | $ 1,270 | |
OTHER ASSETS | ||
Note Receivable net of allowance ($47,998) | $ 1,515 | |
Mold Cost | 10,229 | |
Deposits | $ 14,396 | 9,450 |
Total Other Assets | 14,396 | 21,194 |
TOTAL ASSETS | 1,221,222 | 902,347 |
CURRENT LIABILITIES | ||
Accounts payable and other current liabilities | 417,923 | 312,951 |
Payroll liabilities payable | 42,054 | 28,907 |
Accrued expenses | 299,986 | 102,936 |
Deferred revenue | 49,778 | 158,420 |
Note payable, convertible, related party, net discount of $0 and $24,063 as of March 31, 2016 and 2015 respectively | 200,000 | 175,937 |
Note Payable | 149,878 | 18,117 |
Note payable, related party, net discount of $0 and $38,184 as of March 31, 2016 and 2015 respectively | 1,667,679 | 1,438,870 |
Line of credit | 21,092 | 21,708 |
Total Current Liabilities | 2,848,390 | 2,257,846 |
Notes payable, related party, long term | 59,707 | 81,165 |
Notes payable, long term, convertible, net discount of $0 and $0 as of March 31, 2016 and 2015, respectively | $ 90,696 | 202,729 |
Notes payable, convertible, related party, long term, net of discount of $0 and $0, as of March 31, 2016 and 2015, respectively | 34,011 | |
Total Liabilities | $ 2,998,793 | $ 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, 90,000,000 authorized shares, 76,442,668 and 73,789,362 shares issued and outstanding, Respectively | $ 38,271,248 | $ 37,923,485 |
Stock payable | 3,240 | 21,117 |
Accumulated deficit | (40,052,059) | (39,618,006) |
Total Stockholders' Equity (Deficit) | (1,777,571) | (1,673,404) |
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) | $ 1,221,222 | $ 902,347 |
Balance Sheets (Parenthetical)
Balance Sheets (Parenthetical) - USD ($) | Mar. 31, 2016 | Mar. 31, 2015 |
Statement of Financial Position [Abstract] | ||
Accounts receivable, allowance for doubtful accounts | $ 2,096 | $ 3,184 |
Fixed assets, accumulated depreciation | $ 155,307 | 144,821 |
Allowance for notes receivable | 47,998 | |
Note payable, convertible, related party, discount | $ 0 | 24,063 |
Note payable, related party, net discount | 0 | 38,184 |
Notes payable, long term, convertible, discount | 0 | 0 |
Notes payable, convertible, related party, long term, discount | $ 0 | $ 0 |
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 | 90,000,000 | 90,000,000 |
Common stock, shares issued | 76,442,668 | 73,789,362 |
Common stock, shares outstanding | 76,442,668 | 73,789,362 |
Statements of Operations
Statements of Operations - USD ($) | 12 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
REVENUES | ||
Domestic sales revenue | $ 2,275,340 | $ 1,678,328 |
Learning Center revenue | 211,042 | 217,732 |
License & Royalty revenue | 45,083 | 34,042 |
International revenue | 804,147 | 971,011 |
Total Revenues | 3,335,612 | 2,901,113 |
COST OF SALES | 1,262,946 | 1,590,549 |
GROSS PROFIT | 2,072,666 | 1,310,564 |
OPERATING EXPENSES | ||
Salaries and wages | 712,576 | 786,178 |
Depreciation and amortization expense | 33,673 | 26,816 |
General and administrative expenses | 1,492,875 | 1,396,697 |
Total Operating Expenses | 2,239,124 | 2,209,691 |
OPERATING LOSS | (166,458) | (899,127) |
OTHER INCOME AND (EXPENSES) | ||
Interest expense | $ (267,595) | (561,028) |
Other income | 12,335 | |
Total Other Income and Expenses | $ (267,595) | (548,693) |
NET LOSS | $ (434,053) | $ (1,447,820) |
Basic and diluted loss per share | $ (0.01) | $ (0.02) |
Weighted Average Number of Shares Outstanding, Basic and Diluted | 75,150,169 | 61,071,903 |
Statement of Stockholders' Equi
Statement of Stockholders' Equity (Deficit) - USD ($) | Capital Stock [Member] | Stock Payable [Member] | Accumulated Deficit [Member] | Total |
Balance at Mar. 31, 2014 | $ 36,919,152 | $ 31,080 | $ (38,170,186) | $ (1,219,954) |
Balance, shares at Mar. 31, 2014 | 52,524,410 | |||
Common stock for services | $ 97,500 | $ (2,080) | 94,420 | |
Common stock for services, shares | 1,750,000 | |||
Common stock for bonuses | $ 8,160 | 8,160 | ||
Common stock for bonuses, shares | 170,000 | |||
Common Stock for RSU's | $ 26,911 | $ (1,825) | 25,086 | |
Common Stock for RSU's, shares | 489,286 | |||
Common Stock for Legal Settlement | $ 22,000 | 22,000 | ||
Common Stock for Legal Settlement, shares | 400,000 | |||
RSU's forfeitures | $ (6,058) | (6,058) | ||
Conversion of Notes Payable | $ 696,374 | 696,374 | ||
Conversion of Notes Payable, shares | 18,455,666 | |||
Option Expense | $ 17,161 | 17,161 | ||
Related Party Debt Forgiveness | 19,510 | 19,510 | ||
Debt discount | $ 116,717 | $ 116,717 | ||
Common stock for exercise of options, shares | 9,722,210 | |||
Net Loss | $ (1,447,820) | $ (1,447,820) | ||
Balance at Mar. 31, 2015 | $ 37,923,485 | $ 21,117 | $ (39,618,006) | (1,673,404) |
Balance, shares at Mar. 31, 2015 | 73,789,362 | |||
Common stock for services | $ 48,440 | 48,440 | ||
Common stock for services, shares | 398,000 | |||
Common stock for bonuses | $ 17,908 | $ (9,000) | 8,908 | |
Common stock for bonuses, shares | 358,000 | |||
Common Stock for RSU's | $ 97,845 | $ (8,877) | 88,968 | |
Common Stock for RSU's, shares | 692,300 | |||
Conversion of Notes Payable | $ 159,901 | 159,901 | ||
Conversion of Notes Payable, shares | 1,066,006 | |||
Option Expense | $ 15,269 | $ 15,269 | ||
Common stock for exercise of options | ||||
Common stock for exercise of options, shares | 19,000 | 9,907,210 | ||
Common stock for warrants | $ 8,400 | $ 8,400 | ||
Common stock for warrants, shares | 120,000 | |||
Net Loss | $ (434,053) | (434,053) | ||
Balance at Mar. 31, 2016 | $ 38,271,248 | $ 3,240 | $ (40,052,059) | $ (1,777,571) |
Balance, shares at Mar. 31, 2016 | 76,442,668 |
Statements of Cash Flows
Statements of Cash Flows - USD ($) | 12 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
CASH FLOWS FROM OPERATING ACTIVITIES | ||
NET LOSS | $ (434,053) | $ (1,447,820) |
Adjustments to reconcile net loss to net cash provided (used) by operating activities | ||
Stock on Settlement | 22,000 | |
Debt discount amortization | $ 62,247 | 374,738 |
Depreciation and amortization expense | 23,011 | 31,254 |
Common stock issued for services | 146,316 | 122,608 |
Amortization of fair value of stock options | $ 15,269 | 17,161 |
Bad debt expense (Gain on Collection of Bad Debt) | (3,621) | |
(Increase) decrease in inventories reserve | 926 | |
(Increase) decrease in accounts receivable | $ (428,208) | 135,339 |
(Increase) decrease in prepaid expenses | 46,476 | (43,798) |
(Increase) decrease in inventories | 58,639 | (64,705) |
(Increase) decrease in other current assets | 3,206 | (3,408) |
(Decrease) increase in accounts payable and accrued liabilities | 233,163 | (135,094) |
Increase (decrease) in unearned revenue | (108,642) | 89,953 |
Net Cash Used by Operating Activities | (382,576) | (904,467) |
CASH FLOWS FROM INVESTING ACTIVITIES | ||
Cash paid for purchase of fixed assets | (3,311) | (33,328) |
Net Cash Used by Investing Activities | (3,311) | $ (33,328) |
CASH FLOWS FROM FINANCING ACTIVITIES | ||
Proceeds from sale of stock | 8,400 | |
Principal payments on bank line of credit | $ (8,074) | $ (9,869) |
Proceeds from notes payable | 80,000 | |
Proceeds from notes payable - related party | $ 593,547 | 1,299,387 |
Principal payments on debt - related party | (273,791) | (529,421) |
Proceeds from notes payable - related party, convertible | (10,000) | 200,000 |
Net Cash Provided by Financing Activities | 310,082 | 1,040,097 |
Net Increase (Decrease) in Cash | (75,805) | 102,302 |
Cash at Beginning of Year | 130,162 | 27,860 |
Cash at End of Year | 54,357 | 130,162 |
NON-CASH INVESTING & FINANCING ACTIVITIES | ||
Common stock issued for services (stock payable) | 9,000 | 2,080 |
Common stock issued for conversion of RSUs (stock payable) | 12,117 | 20,000 |
Conversion of Debt | $ 159,901 | 696,373 |
Debt discount | 116,717 | |
Debt Forgiveness | 19,510 | |
CASH PAID FOR: | ||
Interest | $ 48,910 | $ 47,729 |
Income taxes |
Organization and Description of
Organization and Description of Business | 12 Months Ended |
Mar. 31, 2016 | |
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). On August 3, 1994, PCS Education Systems, Inc. was incorporated under the laws of Idaho to develop and operate stand-alone learning labs. 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. 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 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.. The Company divested Labmentors, the wholly owned subsidiary, 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. On February 18, 2016, the Company announced an asset purchase acquisition of a Boise-based drone company, Thrust UAV, that focuses on First Person View (FPV) drone racing, a rapidly growing sport around the world. |
Going Concern
Going Concern | 12 Months Ended |
Mar. 31, 2016 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Going Concern | NOTE 2 - 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. Managements plans with respect to alleviating this adverse position are as follows: Our strategy is profitability driven seeking to optimize and streamline operations while moving our digital learning and robotics product strategy forward. A continued underlying principle will be the building of services and products with recurring revenue traits such as online licenses. Tactically we will focus on improving product quality, improving our delivery and support infrastructure to accommodate larger scale, improving our sales infrastructure, and building our new, higher margin digital products to add to our lineup of STEM products and services. We will continue to focus on the improvement of our web-based marketing efforts, expand our sales force and channel partners, and tighten sales processes for our domestic STEM sales. We will continue to use our EdventuresLab program for (1) an R&D test bed for product improvement and refinement with a major emphasis on digital delivery of content; (2) revenue generation through afterschool and summer course fees; (3) revenue through licensing EdventuresLab curriculum and methods; and (4) revenues from STEM retail products. We believe e-commerce sales of kits associated with STEM learning targeting the families of students attending the centers as well as the larger home retail market will provide a consistent, dependable boost in Q3 revenues to offset low education sales traditionally anticipated during this time frame. We will actively seek retail distribution methods and channels for our robotics retail products and expand their usability for other market segments. Thrust UAV, our FPV drone racing business unit, is currently in R&D for its first major product release and is developing distributor relationships to take the product to market in Q2 of FY2107. Revenue for the twelve months ended March 31, 2016, was $3,335,612 an increase of 15% compared to the same period in the prior year. Net loss from continuing operations for the 12 month period ended March 31, 2016, was ($434,053). Net loss for the same period of the prior year, was ($1,447,820). Cash flow from operations for the 12 months ended March 31, 2016 was ($382,576), compared to ($904,467) for the prior twelve months ended March 31, 2015. While the efforts put in by management and the entire employee team are beginning to be realized, as illustrated by the improved revenues during the fiscal year ending March 31, 2016, the ability of the Company to continue as a going concern is dependent upon its ability to successfully accomplish the plans described to raise capital as needed, to continue to monitor and reduce overhead costs, and to attain profitable operations. The accompanying financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern. |
Other Receivables
Other Receivables | 12 Months Ended |
Mar. 31, 2016 | |
Other Receivables | |
Other Receivables | NOTE 3 - OTHER RECEIVABLES March 31, 2016 2015 Other Receivable $ 33,319 $ 3,236 Total Other Receivable $ 33,319 $ 3,236 In FY2015, the Company paid $3,236 for a contractors international travel to present PCS in conjunction with Robert Grover for qualification with Tatweer Holding Company of Saudi Arabia in a Kingdom of Saudi Arabia tender competition. PCS did not attain that specific contract. Collection of the receivable was unsuccessful and the $3,236 was taken to bad debt expense. In FY2016, the Company entered into a license and royalty agreement with Creya Learning. As part of that agreement, Creya Learning prepaid $25,000 in royalty fees. That prepayment has been exhausted, leaving Creya Learning with a $33,319 royalty balance outstanding with PCS recorded as Other Receivable as of March 31, 2016. |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 12 Months Ended |
Mar. 31, 2016 | |
Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies | NOTE 4 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES a. Accounting Method The Companys financial statements are prepared using the accrual method of accounting. The Company has elected a March 31 year-end. b. Estimates The preparation of financial statements in conformity with Generally Accepted Accounting Principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. c. Concentration of Credit Risks and Significant Customers The Company maintains cash in bank deposit accounts, which, at times, may exceed federally insured limits. The Company has not experienced any losses in such accounts and believes it is not exposed to any significant credit risk on cash and cash equivalents. Financial instruments that potentially subject the Company to concentration of credit risk consist primarily of trade receivables. In the normal course of business, the Company provides credit terms to its customers. Accordingly, the Company performs ongoing credit evaluations of its customers and maintains allowances for possible losses which when realized have been within the range of managements expectations. The Company does not require collateral from its customers. The Company has established an allowance for doubtful accounts of $2,096 and $3,184 for the fiscal years ended March 31, 2016 and 2015, respectively. During the last two fiscal years ended March 31, 2016 and March 31, 2015, the following major customers exceeded 10% of revenue: For the Years Ended March 31, 2016 2015 Tatweer $ 648,408 19 % $ 971,391 33 % Stemfinity $ 502,641 15 % $ 434,410 15 % Catapult Learning $ 833,322 25 % $ 218,960 8 % Major customer accounts receivable near or greater than 10% of total accounts receivable at March 31, 2016 and March 31, 2015, were as follows: For the Years Ended March 31, 2016 2015 Tatweer $ 170,771 50 % $ 170,771 47 % Catapult Learning $ 103,394 36 % $ 103,394 29 % d. Fair Value of Financial Instruments On January 1, 2008, the Company adopted guidance which defines fair value, establishes a framework for using fair value to measure financial assets and liabilities on a recurring basis, and expands disclosures about fair value measurements. Beginning on January 1, 2009, the Company also applied the guidance to non-financial assets and liabilities measured at fair value on a non-recurring basis, which includes goodwill and intangible assets. The guidance establishes a hierarchy for inputs used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available. Observable inputs are inputs that market participants would use in pricing the asset or liability developed based on market data obtained from sources independent of the Company. Unobservable inputs are inputs that reflect the Companys assumptions of what market participants would use in pricing the asset or liability developed based on the best information available in the circumstances. The hierarchy is broken down into three levels based on the reliability of the inputs as follows: Level 1 - Inputs are unadjusted quoted prices in active markets for identical assets or liabilities that the Company has the ability to access at the measurement date. Level 2 - Inputs include quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the asset or liability (e.g., interest rates, yield curves, etc.), and inputs that are derived principally from or corroborated by observable market data by correlation or other means (market corroborated inputs). Level 3 - Unobservable inputs that reflect our assumptions about the assumptions that market participants would use in pricing the asset or liability. The following schedule summarizes the valuation of financial instruments at fair value on a non-recurring basis in the balance sheet as of March 31, 2016. Fair Value Measurements at March 31, 2016 Assets and Liabilities Level 1 Level 2 Level 3 Gain/(loss) $ - $ - $ - $ - $ - $ - $ - $ - The following table presents assets and liabilities that are measured and recognized at fair value as of March 31, 2015, on a non-recurring basis: Fair Value Measurements at March 31, 2015 Assets and Liabilities Level 1 Level 2 Level 3 Gain/(loss) $ - $ - $ - $ - $ - $ - $ - $ - The standard issued by the FASB concerning the fair value option for financial assets and liabilities became effective for the Company on January 1, 2008. The standard establishes a fair value option that permits entities to choose to measure eligible financial instruments and certain other items at fair value at specified election dates. A business entity shall report unrealized gains and losses on items for which the fair value options have been elected in earnings at each subsequent reporting date. For the periods ended March 31, 2016 and 2015, there were no applicable items on which the fair value option was elected. e. Revenue Recognition PCS recognizes revenue for its two revenue streams: Product (Learning Labs) and Licensing in accordance with generally accepted accounting standards pertaining to revenue recognition of single unit and/or multiple deliverables. The Company recognizes product revenue in accordance with generally accepted accounting standards, which is codified under FASB ASC Topic 605 Revenue Recognition, under which revenue is recognized when it is realizable and when earned. Licensing Revenue is in relation to the sales of the learning labs. This revenue is based on a contractual term of one year, which begins when the physical lab is shipped to the customer. Should the customer terminate the licensing prior to the expiration of the contract, PCS does not have an obligation to refund any portion of the fees. As such, revenue is amortized and recorded over the life of the contractual license, in accordance with generally accepted accounting standards. f. Provision for Income Taxes The Company accounts for income taxes under the asset and liability method, which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements. Under this method, deferred tax assets and liabilities are determined based on the differences between the financial statements and tax basis of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in income in the period that includes the enactment date. The Company recorded net deferred tax assets to the extent we believe these assets will more likely than not be realized. In making such a determination, we consider all available positive and negative evidence, including future reversals of existing taxable temporary differences, projected future taxable income, and results of recent operations. In the event we were to determine that we would be able to realize our deferred income tax assets in the future in excess of their net recorded amount, we would make an adjustment to the deferred tax asset valuation allowance. We record uncertain tax positions in accordance with ASC 740 on the basis of a two-step process whereby (1) we determine whether it is more likely than not that the tax positions will be sustained based on the technical merits of the position and (2) those tax positions that meet the more-likely-than-not recognition threshold, we recognize the largest amount of tax benefit that is greater than 50 percent likely to be realized upon ultimate settlement with the related taxing authority. The Company has no uncertain tax positions to disclose. Net deferred tax assets and liabilities consist of the following components as of March 31, 2016 and 2015: March 31, 2016 2015 Deferred Tax Assets NOL carryover $ 5,827,592 $ 4,967,771 Accumulated depreciation 5,629 3,239 Deferred revenue 3,413 9,263 Unearned revenue 16,001 52,521 Idaho ITC 7,287 7,307 Allowance for Bad Debt 817 1,242 Gross deferred tax assets 5,860,739 5,041,343 Valuation allowance (5,860,739 ) (5,041,343 ) Net deferred tax asset $ 0 $ 0 Deferred Tax Liabilities Accumulated depreciation $ - $ - Other - - Gross deferred tax liabilities $ $ Net deferred tax assets (liabilities) $ $ The reconciliation between the Companys effective tax rate on income from continuing operations and the statutory tax rate is as follows: March 31, 2016 2015 Book income $ (143,320 ) $ (492,259 ) State taxes (21,077 ) (72,393 ) Options expense 5,955 6,693 Other 6,282 1,150 Valuation allowance 152,160 556,809 $ $ At March 31, 2016 the Company had a net operating loss carry-forward of approximately $14,942,543 that may be offset against future taxable income. No tax benefit has been reported in the March 31, 2016, financial statements since the potential tax benefit is offset by a valuation allowance of the same amount. Due to the change in ownership provisions of the Tax Reform Act of 1986, net operating loss carry forward for Federal income tax reporting purposes are subject to annual limitations. Should a change in ownership occur, the net operating loss carry-forward may be limited as to use in future years. The Company files income tax returns in the United States, the State of Idaho and the State of California. The statute of limitations on a Federal tax return is the due date of the tax return plus three years. In the case of NOLs, the year in which the NOL was generated remains open up to the amount of the NOL until the statute of limitations expires on the year it was used. PCS Edventures first filed a tax return in 1994. Therefore no statutes have closed. The Company does not have any unrecognized tax benefits to report in the current period. The Companys policy is to recognize interest accrued related to unrecognized tax benefits in interest expense and penalties in operating expenses. g. Basic Loss Per Share The computation of basic loss per share of common stock is based on the weighted average number of shares outstanding during the period of the financial statements in accordance with generally accepted accounting standards. Diluted loss per share is equal to basic loss per share as the result of the anti-dilutive nature of the stock equivalents. For the Years Ended March 31, 2016 2015 Basic and diluted loss per share from operations: Net loss $ (434,053 ) $ (1,447,820 ) Weighted average number of shares outstanding 75,150,169 61,071,903 Basic and diluted loss per share $ (0.01 ) $ (0.02 ) h. Recently Issued Accounting Pronouncements In January 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2016-16, Financial Instruments -Overall (Subtopic 825-10), Recognition and Measurement of Financial Assets and Financial Liabilities. In November 2015, the FASB issued an ASU No. 2015-17, Income Taxes (Topic 740): Balance Sheet Classification of Deferred Taxes In September 2015, the FASB issued ASU No. 2015-16, Business Combinations (Topic 805), Simplifying the Accounting for Measurement-Period Adjustments , In April 2015, the FASB issued ASU No. 2015-03, InterestImputation of Interest (Subtopic 835-30) In June 2014, the FASB issued an accounting standard which provides new guidance that requires share-based compensation to meet a specific performance target to be achieved in order for employees to become eligible to vest in the awards and that could be achieved after an employee completes the requisite service period be treated as a performance condition. As such, the performance target should not be reflected in estimating the grant-date fair value of the award. Compensation costs should be recognized in the period in which it becomes probable that the performance target will be achieved and should represent the compensation cost attributable to the period(s) for which the requisite service has already been rendered. If the performance target becomes probable of being achieved before the end of the requisite service period, the remaining unrecognized compensation cost should be recognized prospectively over the remaining requisite service period. The total amount of compensation cost recognized during and after the requisite service period should reflect the number of awards that are expected to vest and should be adjusted to reflect those awards that ultimately vest. The requisite service period ends when the employee can cease rendering service and still be eligible to vest in the award if the performance target is achieved. This new guidance is effective for fiscal years and interim periods within those years beginning after December 15, 2015. Early adoption is permitted. Entities may apply the amendments in this Update either (a) prospectively to all awards granted or modified after the effective date or (b) retrospectively to all awards with performance targets that are outstanding as of the beginning of the earliest annual period presented in the financial statements and to all new or modified awards thereafter. The adoption of ASU 2014-12 is not expected to have a material impact on our financial position or results of operations. In June 2014, the FASB issued guidance to improve financial reporting by reducing the cost and complexity associated with the incremental reporting requirements of development stage entities. The amendments in this update remove all incremental financial reporting requirements from U.S. GAAP for development stage entities, thereby improving financial reporting by eliminating the cost and complexity associated with providing that information. The amendments in this Update also eliminate an exception provided to development stage entities in Topic 810, Consolidation, for determining whether an entity is a variable interest entity on the basis of the amount of investment equity that is at risk. The amendments to eliminate that exception simplify U.S. GAAP by reducing avoidable complexity in existing accounting literature and improve the relevance of information provided to financial statement users by requiring the application of the same consolidation guidance by all reporting entities. The elimination of the exception may change the consolidation analysis, consolidation decision, and disclosure requirements for a reporting entity that has an interest in an entity in the development stage. The amendments related to the elimination of inception-to-date information and the other remaining disclosure requirements of Topic 915 should be applied retrospectively except for the clarification to Topic 275, which shall be applied prospectively. For public companies, those amendments are effective for annual reporting periods beginning after December 15, 2014, and interim periods therein. Early adoption is permitted. The adoption of ASU 2014-10 is not expected to have a material impact on our financial position or results of operations. In August 2014, the FASB issued an accounting standard that requires management to assess an entitys ability to continue as a going concern by incorporating and expanding upon certain principles that are currently in U.S. auditing standards. Specifically, the standard (1) provide a definition of the term substantial doubt, (2) require an evaluation every reporting period including interim periods, (3) provide principles for considering the mitigating effect of managements plans, (4) require certain disclosures when substantial doubt is alleviated as a result of consideration of managements plans, (5) require an express statement and other disclosures when substantial doubt is not alleviated, and (6) require an assessment for a period of one year after the date that the financial statements are issued (or available to be issued). The standard in this Update is effective for the annual period ending after December 15, 2016, and for annual periods and interim periods thereafter. Early application is permitted. The adoption of ASU 2014-15 is not expected to have a material impact on our financial position or results of operations. In November 2014, the FASB issued new guidance for determining when separation of certain embedded derivative features in a hybrid financial instrument is required. That is, an entity will continue to evaluate whether the economic characteristics and risks of the embedded derivative feature are clearly and closely related to those of the host contract, among other relevant criteria. The amendments clarify how current GAAP should be interpreted in evaluating the economic characteristics and risks of a host contract in a hybrid financial instrument that is issued in the form of a share. The effects of initially adopting the amendments in this Update should be applied on a modified retrospective basis to existing hybrid financial instruments issued in the form of a share as of the beginning of the fiscal year for which the amendments are effective. Retrospective application is permitted to all relevant prior periods. The adoption of ASU 2014-16 is not expected to have a material impact on our financial position or results of operations. In November 2014, the FASB issued guidance to provide an acquired entity with an option to apply pushdown accounting in its separate financial statements upon occurrence of an event in which an acquirer obtains control of the acquired entity. After the effective date, an acquired entity can make an election to apply the guidance to future change-in-control events or to its most recent change-in-control event. However, if the financial statements for the period in which the most recent change-in-control event occurred already have been issued or made available to be issued, the application of this guidance would be a change in accounting principle. The amendments in this Update are effective on November 18, 2014. The adoption of ASU 2014-17 is not expected to have a material impact on our financial position or results of operations. i. Educational Software The Company has internally developed education computer programs and student exercises to be accessed on the Internet. In accordance with financial accounting standards pertaining to internally developed software, the costs associated with research and initial feasibility of the programs and student exercises are expensed as incurred. Once economic feasibility has been determined, the costs to develop the programs and student exercises are capitalized until the software is ready for sale. At that point, the development costs are reported at the lower of unamortized cost or net realizable value. Capitalized programs and student exercise inventory items are amortized on a straight-line basis over the estimated useful life of the program or exercise, generally 24 to 48 months. The Company evaluates its purchased intangibles for possible impairment on an ongoing basis. When impairment indicators exist, the Company will perform an assessment to determine if the intangible asset has been impaired and to what extent. The assessment of purchased intangibles impairment is conducted by first estimating the undiscounted future cash flows to be generated from the use and eventual disposition of the purchased intangibles and comparing this amount with the carrying value of these assets. If the undiscounted cash flows are less than the carrying amounts, impairment exists and future cash flows are discounted at an appropriate rate and compared to the carrying amounts of the purchased intangibles to determine the amount of the impairment. j. Intellectual Property The Companys intellectual property consists of capitalized costs associated with the development of the Internet software and delivery platform developed by the Company to enable access to the various educational programs and exercises developed by the Company. In accordance with generally accepted accounting standards as discussed previously regarding inventory, the initial costs associated with researching the delivery platform and methods were expensed until economic feasibility and acceptance were determined. Thereafter, costs incurred to develop the Internet online delivery platform and related environments were capitalized until ready for sale. Costs incurred thereafter to maintain the delivery and access platform are expensed as incurred. These capitalized costs are being amortized on a straight-line basis over the estimated useful life of the Companys delivery and access platform, which has been determined to be 60 months. k. Goodwill and Intangible Assets Goodwill is tested for impairment at a minimum on an annual basis. Goodwill is tested for impairment at the reporting unit level by first performing a qualitative assessment to determine whether it is more likely than not that the fair value of the reporting unit is less than its carrying value. If the reporting unit does not pass the qualitative assessment, then the reporting units carrying value is compared to its fair value. The fair values of the reporting units are estimated using market and discounted cash flow approaches. Goodwill is considered impaired if the carrying value of the reporting unit exceeds its fair value. The discounted cash flow approach uses expected future operating results. Failure to achieve these expected results may cause a future impairment of goodwill at the reporting unit. Intangible assets consist of patents and trademarks, purchased customer contracts, purchased customer and merchant relationships, purchased trade names, purchased technology, and non-compete agreements. Intangible assets are amortized over the period of estimated benefit using the straight-line method and estimated useful lives ranging from ten to twenty years. No significant residual value is estimated for intangible assets. We evaluate long-lived assets (including intangible assets) for impairment whenever events or changes in circumstances indicate that the carrying amount of a long-lived asset may not be recoverable. An asset is considered impaired if its carrying amount exceeds the undiscounted future net cash flow the asset is expected to generate. For the fiscal year ended March 31, 2016, the Company evaluated its purchased goodwill and related intangibles for possible impairment. The assessment of purchased intangibles impairment is conducted by first estimating the undiscounted future cash flows to be generated from the use and eventual disposition of the purchased intangibles and comparing this amount with the carrying value of these assets. The undiscounted future cash flows are more than the carrying amounts indicating no impairments exist, further, the future cash flows discounted at an appropriate rate do not substantiate any measureable impairment. As a result of the evaluation, no impairment was recorded for the fiscal year ended March 31, 2016. l. Property and Equipment Property and equipment are recorded at cost and are being depreciated for financial accounting purposes on the straight-line method over their respective estimated useful lives ranging from three to seven years. Upon retirement or other disposition of these assets, the cost and related accumulated depreciation are removed from the accounts and the resulting gains or losses are reflected in the results of operations. Expenditures for maintenance and repairs are charged to operating expense. Renewals and betterments are capitalized. m. Finished Goods Inventory Finished goods inventory is composed of items produced in-house, as well as items from outside suppliers. These items include, but are not limited to, KNEX manipulatives, fischertechnik® manipulatives, ALCE manipulatives, LEGO® manipulatives, digital media equipment, furniture units, curriculum, blocks, poster packs, and other miscellaneous items used in our various labs. Our inventory is carried at the lower of cost or market and valued using the average cost method for each item. In addition, we have established a reserve of $3,391 for obsolete and slow moving items. n. Stock Options and Stock Grants Effective January 1, 2006, the Company accounts for stock issued for employee benefits and goods and services received from non-employees in accordance with generally accepted accounting standards. The Company is required to recognize expense of options or similar equity instruments including 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. The Company accounts for shares issued to employees and others based upon the closing price of our common stock at the grant date. The Company has granted options and warrants to purchase PCS Edventures!.com common stock. These instruments have been valued using the Black-Scholes model and are fully detailed in Note 12. |
Prepaid Expenses
Prepaid Expenses | 12 Months Ended |
Mar. 31, 2016 | |
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract] | |
Prepaid Expenses | NOTE 5 - PREPAID EXPENSES Prepaid expenses for the periods are as follows: March 31, 2016 March 31, 2015 Prepaid insurance $ 4,766 $ 41,372 Prepaid inventory 38,940 50,057 Prepaid software 10,931 10,406 Prepaid expenses, other 11,591 10,869 Total Prepaid Expenses $ 66,228 $ 112,704 |
Goodwill and Other Intangible A
Goodwill and Other Intangible Assets | 12 Months Ended |
Mar. 31, 2016 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Goodwill and Other Intangible Assets | NOTE 6 GOODWILL AND OTHER INTANGIBLE ASSETS Goodwill and other intangible assets for the period are as follows: March 31, 2016 2015 Goodwill $ 1,270 $ - Intangible Assets 100,048 - Accum Amort Intangible Assets (12,525 ) - Total Goodwill and Intangible Assets $ 88,793 $ - Intangible asset amortization expense for the years ended March 31, 2016 and 2015 was $12,525 and $0, respectively. |
Fixed Assets
Fixed Assets | 12 Months Ended |
Mar. 31, 2016 | |
Property, Plant and Equipment [Abstract] | |
Fixed Assets | NOTE 7 - FIXED ASSETS Assets and depreciation for the period are as follows: March 31, 2016 2015 Computer/office equipment $ 46,632 $ 43,320 Software 127,355 127,355 Accumulated depreciation (155,307 ) (144,821 ) Total Fixed Assets $ 18,680 $ 25,854 Fixed Asset depreciation expense for the years ended March 31, 2016 and 2015 was $10,486 and $26,816, respectively. |
Common and Preferred Stock Tran
Common and Preferred Stock Transactions | 12 Months Ended |
Mar. 31, 2016 | |
Equity [Abstract] | |
Common and Preferred Stock Transactions | NOTE 8 - COMMON AND PREFERRED STOCK TRANSACTIONS a. Common Stock During the fiscal year ended March 31, 2015, the Company issued 1,750,000 shares of common stock for services. The per share value ranged from $0.05 to $0.06 for a net value of $97,500 based on the closing price of the Companys common stock on the date of grant. During the fiscal year ended March 31, 2015, the Company granted 170,000 shares of common stock as bonus to employees. The per share value ranged from $0.04 to $0.052 for a net value of $8,160 based on the closing price of the Companys common stock on the date of grant. During the fiscal year ended March 31, 2015, the Company recognized $26,911 of restricted stock units payable to non-management directors for services rendered at a rate of one share of common stock for each restricted stock unit. Each restricted stock unit is valued at $0.055, 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 of not less than twelve months, and require continued service for twelve months and reelection at the next annual shareholder meeting. One non-management director resigned in June 2014, forfeiting his restricted stock units payable. The remaining directors were reelected at the Annual Meeting in September 2014 and the shares are fully vested and have been issued to those directors who chose not to defer their compensation. $26,911 was recorded to common stock for the issuances in March 2015. The total number of shares of common stock issued for RSUs is 489,286. Restricted stock units payable were accrued of $12,117 as of March 31, 2015, representing shares that will be issued in future periods. During the fiscal year ending March 31, 2015, the Company issued 18,455,666 shares of common stock for the conversion of promissory notes issued to private investors. The price per share value range of $0.03 to $0.06 resulted in a net value of $696,374. Due to conversion within the terms of the note, no gain or loss was recorded as a result of the conversion During the fiscal year ended March 31, 2015, the Company expensed amounts related to stock options and warrants granted in the current period as well as prior periods valued at $17,161. During the fiscal year ended March 31, 2015, the Company settled in an employment contract mediation for issuance of 400,000 shares of common stock. The per share value of $0.055, a net value of $22,000 based on the closing price of the Companys common stock on the date of grant. During the fiscal year ending March 31, 2015, the Company granted 80,000 shares of common stock to employees. The per share value of range of $0.04 to $0.05, a net value of $3,600 based on the closing price of the Companys common stock on the date of grant. During the fiscal year ending March 31, 2015, the Company recognized $50,000 in debt discount as an increase to stockholders equity pursuant to the terms of convertible promissory notes. The debt discount consists of a beneficial conversion feature on a $200,000, related party, long-term convertible note payable. During the fiscal year ending March 31, 2015, the Company recognized $66,717 in debt discount as an increase to stockholders equity pursuant to the terms of convertible promissory notes. The debt discount consists of warrants attached with a $400,000, related party, short-term note payable. During the fiscal year ending March 31, 2015, the Company recognized $19,510 in debt forgiveness related to the December 30, 2011 note payable in the amount of $30,000. This note was satisfied as of March 31, 2015, with a principal payment of $20,000. The remaining principal of $10,000 and accrued interest of $9,510 were taken to Additional Paid In Capital. Due to related party relationship, the Company recorded such balance as an increase to stockholders equity. During the fiscal year ended March 31, 2016 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. Management submitted the resolution for ratification by the shareholders at the Annual Meeting. Shareholders ratified the increase in common stock to 10,000,000 on September 25, 2015. During the fiscal year ended March 31, 2016, the Company issued 398,000 shares of common stock for services. The per share value ranged from $0.11 to $0.15 for a net value of $48,440 based on the closing price of the Companys common stock on the date of grant. During the fiscal year ended March 31, 2016, the Company recognized 692,300 of restricted stock units payable to non-management directors for services rendered at a rate of one share of common stock for each restricted stock unit. Each restricted stock unit is valued at $0.11 to $0.15, based on the closing price of the Companys common stock at the date of vesting. These agreements call for payment of current year director fees via issuance of restricted stock units over a vesting period ending September 30, 2015. Vesting requires continued service through September 30, 2015 and reelection at the annual shareholder meeting. $97,845 was recorded to common stock for the issuance on November 16, 2016. The total number of shares of common stock issued for RSUs is 692,300. Four Board of Director members resigned in 3Q FY2016. Restricted Stock Units accrued for the resigning members were forfeited. Restricted stock units payable were accrued of $3,240 as of March 31, 2016 for the one remaining board member, representing shares that will be issued in future periods. During the fiscal year ending March 31, 2016, the CEO exercised 25,000 options earned from an employee incentive stock option agreement dated July 15, 2012, using the cashless option into 19,000 shares of restricted common stock. The price per share was $0.06 discounted from market value of $0.25 at the time of exercise resulted in a reduction of 6,000 shares of common stock. During the fiscal year ending March 31, 2016, a related party exercised 120,000 warrants issued on January 11, 2013 at a price of $0.07 for a total of $8,400 resulting in 120,000 shares of restricted common stock. During the fiscal year ending March 31, 2016, the Company issued 1,066,006 shares of common stock for the conversion of promissory notes issued to private investors. The price per share value of $0.15 resulted in a net value of $159,901. Due to conversion within the terms of the note, no gain or loss was recorded as a result of the conversion During the fiscal year ended March 31, 2016, the Company expensed $15,269 related to stock options and warrants granted in the current period as well as prior periods; to seven employees in incentive stock option plans valued using the Black-Scholes valuation model. (See Note 13 for terms) During the fiscal year ending March 31, 2016, the Company granted 358,000 shares of common stock to employees. The per share value of range of $0.04 to $0.10, a net value of $8,908 based on the closing price of the Companys common stock on the date of grant. b. Preferred Stock The Company has 20,000,000 authorized shares of preferred stock. As of March 31, 2016 and 2015, there are no preferred shares issued or outstanding. |
Notes Payable
Notes Payable | 12 Months Ended |
Mar. 31, 2016 | |
Debt Disclosure [Abstract] | |
Notes Payable | NOTE 9 - NOTES PAYABLE Notes payable consisted of the following at March 31, 2016 and March 31, 2015 March 31, 2016 2015 Note Payable 149,878 18,117 Note Payable, Convertible, Related Party net discount of $0 and $24,063 as of March 31, 2016 and 2015. 200,000 175,937 Note Payable, Related Party, net discount of $0 and $38,184 as of March 31, 2016 and 2015 respectively 1, 667,679 1,438,870 Long Term Convertible Note, net discount of $0 and $0 as of March 31, 2016 and 2015, respectively 90,696 202,729 Note Payable, Related Party, long term 59,707 81,165 Line of Credit 21,092 21,708 Total Notes Payable $ 2,189,052 $ 1,938,526 Original Principal Balance Origination Date Original Due Date Amended Due Date Interest Rate Principal 03/31/16 Interest accrued 03/31/16 Principal Balance 03/31/16 Principal Balance 03/31/15 Note Payable $ 84,000 2/12/2016 12/1/2016 12/1/2016 n/a $ 84,000 n/a $ 24,547 2/16/2012 12/1/2016 12/1/2016 n/a $ 24,547 n/a $ 20,000 5/1/2014 4/11/2017 4/11/2017 12.00 % $ 9,982 $ 2,288 $ 60,000 4/11/2014 3/11/2017 3/11/2017 12.00 % $ 31,349 $ 1,636 $ 149,878 18,117 Note Payable Related Party Convertible $ 200,000 2/1/2014 10/22/2015 4/30/2015 10.00 % $ 200,000 $ 28,932 $ 200,000 175,937 Note Payable Related Party $ 870,457 10/21/2014 5/31/2015 4/30/2016 10.00 % $ 892,679 $ 111,768 $ 400,000 1/16/2015 6/30/2015 4/30/2016 10.00 % $ 400,000 $ 30,247 $ 135,000 2/17/15,3/5/15 6/30/2015 4/30/2016 10.00 % $ 135,000 $ 14,947 $ 135,000 4/20/2015 6/30/2015 4/30/2016 10.00 % $ 40,000 $ 8,045 $ 100,000 2/6/2016 2/29/2016 4/30/2016 10.00 % $ 100,000 $ 1,452 $ 100,000 3/16/2016 4/30/2016 4/30/2016 10.00 % $ 100,000 $ 384 $ 1,667,679 1,438,870 Note Payable Convertible $ 30,000 3/31/2011 6/29/2011 4/30/2017 10.00 % $ 34,011 $ 8,517 $ 50,000 3/31/2011 6/29/2011 4/30/2017 10.00 % $ 56,685 $ 14,195 $ 90,696 202,729 Note Payable Related Party Long-Term $ 70,000 1/10/2012 1/10/2013 4/1/2020 9.00 % $ 42,204 n/a $ 39,050 9/13/2011 n/a n/a 8.75 % $ 17,503 n/a $ 59,707 81,165 $ 25,000 4/18/2012 4/18/2017 4/18/2017 7.50 % $ 21,092 n/a $ 21,092 21,708 $ 222,409 $ 2,189,052 1,938,526 Note Payable On February 12, 2016, the Company entered into a note payable of $84,000. The note does not bear an interest rate, as it is has a set 9 payment arrangement of $9,333 per month for 9 months; starting on April 1, 2016, with the final payment due on December 1, 2016. The March 31, 2016 and 2015, principal balance is $84,000. There is no calculated accrued interest payable as of March 31, 2016. On February 12, 2016, the Company entered into a note payable of $24,547. The note does not bear an interest rate, as it is has a set 9 payment arrangement of $9,333 per month for 9 months; starting on April 1, 2016, with the final payment due on December 1, 2016. The March 31, 2016, principal balance is $24,547. There is no calculated accrued interest payable as of March 31, 2016. On May 1, 2014, the Company entered into a 36 month note payable of $20,000. The note bears interest at twelve percent (12%) per annum. The principal balance as of March 31, 2016 and 2015, was $9,982 and $18,117, respectively. Accrued interest payable as of March 31, 2016 and 2015 was $1,611 and $2,288, respectively. On April 11, 2014, the Company entered into a 36 month note payable of $60,000. The note bears interest at twelve percent (12%) per annum. There is no conversion feature associated with this promissory note. $28,651 was paid toward principal, leaving an ending principal balance of $31,349 and $59,710 as of March 31, 2016 and 2015, respectively. Accrued interest payable as of March 31, 2016, was $1,636. Convertible Note Payable Related Party 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. 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 original note due date of October 22, 2015 was extended until April 30, 2016. The debt discount was calculated as $50,000. During the year ended March 31, 2016 and 2015, $24,063 and $25,937 discount was amortized. Accrued interest payable as of March 31, 2016 and 2015, was $28,932 and $8,822, respectively. This note was subsequently converted along with accrued interest on April 29, 2016, into 5,763,014 shares of common stock. Note Payable Related Party On December 30, 2011, the Company entered into a note payable in the amount of $30,000. The note bears interest at ten percent (10%) per annum and was due on February 28, 2012. This note was extended under the same terms and conditions, with a new maturity of March 31, 2015. This note was satisfied as of March 31, 2015, with a principal payment of $20,000 and Gain on Debt Forgiveness of $10,000. Accrued interest of $9,510 was taken to Additional Paid In Capital. On February 26, 2013, we executed a promissory note with one of our shareholders, for $65,000 at 15% interest per annum, secured by seven of our sales orders to finance inventory purchases. The promissory note was due on or before April 20, 2013. There is no conversion feature associated with this promissory note. A payment of $20,000 was made against the principal on the note on April 1, 2013. The remaining $45,000 was extended and made part of the $95,000 convertible promissory note issued on May 24, 2013 which included an additional $50,000 promissory note as describe in the 8-K filed on May 24, 2013, with a maturity date of August 24, 2016 ( See Convertible Note Payable Related Party On March 22, 2013, we entered into a loan transaction that bears interest at a rate of 8% per annum, secured with one of our board members in the amount of $25,000. The note is secured by three of our accounts receivables to finance inventory purchases. This note was extended on September 30, 2013, and reclassed to a long term convertible promissory note with a board member and shareholder of an 8% Convertible Promissory Note in the amount of $25,000, convertible into shares of common stock of the Company, at a price of $0.04 per share ( See Convertible Note Payable Related Party) On January 22, 2014, the Company entered into a loan transaction with one of our board members in the amount of $200,000, which was non-convertible. The note bears interest at a rate of 15% per annum, secured by Catapult PO NA1314-001 to finance inventory purchases and payoff the promissory notes dated January 7 and January 15, 2014. The promissory note and accrued interest of $6,247 were due and payable on April 30, 2014. This note was paid in full including all accrued interest on April 8, 2014. On February 13, 2014 the Company entered into a loan transaction with one of our board members in the amount of $250,000, which was non-convertible. The note bears interest at a rate of 15% per annum, secured by Tatweer Company for Educational Services Mobile Outreach Saudi Work Order 001 to finance inventory purchases. The promissory note and all accrued interest were due and payable on May 13, 2014. This note was extended to September 30, 2014, to account for the delay in invoice acceptance and payment by Tatweer Company for Educational Services. On September 9, 2014, the Company accrued and paid interest in the amount of $20,445. On October 21, 2014, this note was paid off when the Company entered into a 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 note is due on or before October 22, 2015. The remaining $50,000 was paid in full by the issuance of that certain Promissory Note in the principal amount of $870,457. On February 21, 2014 the Company entered into a loan transaction with one of our board members in the amount of $70,000, which was non-convertible. The note bears interest at a rate of 15% per annum, secured by Catapult Learning PO NA1314-090 to finance inventory purchases. The promissory note and all accrued interest were due and payable on April 30, 2014. This note was paid in full including accrued interest of $1,870 on April 22, 2014. On March 4, 2014, the Company entered into a loan transaction with one of our board members in the amount of $50,000. The note is non-convertible and bears interest at a rate of 15% per annum, secured by T4EDU Training Academy Contract to finance inventory purchases. The promissory note and all accrued interest were due and payable on April 30, 2014. $37,500 of this note was paid during the period and the remaining $12,500 was extended and rolled into a new promissory note dated July 21, 2014, for $105,000 (includes $75,000 and $17,500 promissory notes) with interest at 15% per annum due on or before August 30, 2014. On October 21, 2014, this $105,000 note was paid off by an issuance of a promissory note with one of our board members in the amount of $870,457. The note is non-convertible and bears and interest rate of 10% per annum, and due October 22, 2015. On April 3, 2014, the Company executed a promissory note with one of our board members, for $60,000 at 15% interest per annum, secured by sales orders finance operations and inventory purchases. The promissory note was due April 30, 2014. There is no conversion feature associated with this promissory note. The note was extended on April 30, 2014, to September 30, 2014. The note was replaced with note dated July 28, 2014, for $210,000. This note was paid in full by the issuance of that certain Promissory Note of even date herewith in the principal amount of $870,457. The note is non-convertible and bears and interest rate of 10% per annum, and due October 22, 2015. All accrued interest as of the date of replacement was paid in full. On April 15, 2014, the Company executed a promissory note with one of our board members, for $160,000 at 15% interest per annum, secured by sales orders to finance operations and inventory purchases. The promissory note was due June 30, 2014. There is no conversion feature associated with this promissory note. On October 21, 2014, these notes were paid off by an issuance of a promissory note with one of our board members in the amount of $870,457. The note is non-convertible and bears and interest rate of 10% per annum, and due October 22, 2015. All accrued interest as of the date of replacement was paid in full. On May 1, 2014 the Company executed a promissory note with one of our shareholders and board members, for $60,000 at 15% interest per annum, secured by sales orders to finance operations and inventory purchases. The promissory note was due July 15, 2014. There is no conversion feature associated with this promissory note. The note was extended to September 30, 2014. During the period ended September 30, 2014, the note was separated into two notes, $17,500 and $42,500 and included in two separate notes dated July 21, 2014, for $105,000 and July 28, 2014, for $210,000, respectively. On October 21, 2014 the notes for $105,000 and $210,000 were paid off by an issuance of a promissory note with one of our board members in the amount of $870,457. The note is non-convertible and bears and interest rate of 10% per annum, and due October 22, 2015. Accrued interest of $ 7,568 as of the date of replacement was paid in full. On May 5, 2014 the Company executed a promissory note with one of our shareholders and board members, for $145,000 at 15% interest per annum, secured by sales orders to finance operations and inventory purchases. The promissory note was due July 15, 2014. There is no conversion feature associated with this promissory note. The note was extended to September 30, 2014. On October 21, 2014, this note was paid off by an issuance of a promissory note with one of our board members in the amount of $870,457. The note is non-convertible and bears and interest rate of 10% per annum, and due October 22, 2015. Total interest accrued and paid as of March 31, 2015, was $2,384. On May 16, 2014, the Company executed a promissory note with one of our shareholders and board members, for $150,000 at 15% interest per annum, secured by sales orders to finance operations and inventory purchases. The promissory note was due September 30, 2014. There is no conversion feature associated with this promissory note. $75,000 of this note was added to a $150,000 note payable executed June 21, 2014. The other $75,000 was added to another $150,000 note dated June 27, 2014. Total interest accrued up through dates of replacement was $3,329. On May 21, 2014 the Company executed a promissory note with one of our shareholders and board members, for $50,000 at 15% interest per annum, secured by sales orders to finance operations and inventory purchases. The promissory note was due August 30, 2014. There is no conversion feature associated with this promissory note. This promissory note was rolled into promissory note dated July 28, 2014, for $210,000. All interest was paid at the time of roll into the $210,000 note. On October 21, 2014, the $210,000 note was paid off by an issuance of a promissory note with one of our board members in the amount of $870,457. The note is non-convertible and bears and interest rate of 10% per annum, and due October 22, 2015. On June 3, 2014 the Company executed a promissory note with one of our shareholders and board members (part of a replacement note for promissory note dated April 15, 2014), for $25,000 at 15% interest per annum, secured by sales orders to finance operations and inventory purchases. The promissory note was due September 3, 2014. There is no conversion feature associated with this promissory note. This promissory note was rolled into a promissory note dated July 28, 2014, for $210,000. All interest was paid at the time of roll into the $210,000 note. On October 21, 2014, the $210,000 note was paid off by an issuance of a promissory note with one of our board members in the amount of $870,457. The note is non-convertible and bears and interest rate of 10% per annum, and due October 22, 2015. On June 27, 2014 the Company executed a promissory note with one of our shareholders and board members, for $150,000 at 15% interest per annum (composed of two separate $75,000 notes that was previously issued and replaced dated May 16, 2014, and April 16, 2014, respectively), secured by sales orders to finance operations and inventory purchases. The promissory note was due September 30, 2014. There is no conversion feature associated with this promissory note. This note is replaced by three different notes: $63,000 note payable executed on August 20, 2014, a part of the $123,000 promissory note; $25,000 note payable executed on August 7, 2014; and $32,500 note executed on July 28, 2014. The remaining principal balance of $29,500 was paid off by an issuance of a promissory note with one of our board members in the amount of $870,457 on October 21, 2014. The note is non-convertible and bears and interest rate of 10% per annum, and due October 22, 2015. Total interest accrued as of the date of pay off was $242. On July 21, 2014 the Company executed a promissory note with one of our shareholders and board members, for $105,000 at 15% interest per annum, secured by T4EDU Contract 0006/2014, to finance operations and inventory purchases. The promissory note is due October 31, 2014. There is no conversion feature associated with this promissory note. This promissory note composed of prior issued notes dated March 4, 2014, for $12,500; May 1, 2014, for $17,500; and May 16, 2014, for $75,000. On October 21, 2014, the note for $105,000 was paid off by an issuance of a promissory note with one of our board members in the amount of $870,457. The note is non-convertible and bears and interest rate of 10% per annum, and due October 22, 2015. Total accrued interest of $ 2,243 as of the date of replacement was paid in full. On July 21, 2014, the Company converted $646,500 in convertible long term related party notes payable, and the related $49,874 in accrued interest (individual notes identified in the convertible related party notes payable section (See Convertible note related party). The strike price varied from $0.0325 to $0.065 depending on the note terms. The conversion resulted in 18,455,666 shares of common stock. Due to conversion within the terms of the note, no gain or loss was recognized. On July 28, 2014, the Company executed a promissory note with one of our shareholders and board members, for $210,000 at 15% interest per annum, secured by T4EDU Contract 0006/2014, to finance operations and inventory purchases. The promissory note is due October 31, 2014. There is no conversion feature associated with this promissory note. This promissory note composed of prior issued notes dated April 3, 2014, for $60,000; May 1, 2014, for $42,500; May 21, 2014, for $50,000; June 3, 2014, for $25,000 and June 27, 2014, for $32,500. Total interest accrued as of September 30, 2014, was $5,523. All interest was paid at the time of roll into the $210,000 note. On October 21, 2014, the $210,000 note was paid off by an issuance of a promissory note with one of our board members in the amount of $870,457. The note is non-convertible and bears and interest rate of 10% per annum, and due October 22, 2015. On July 28, 2014, the Company executed a promissory note with one of our shareholders and board members, for $100,000 at 5% interest per annum, secured by sales orders to finance operations and inventory purchases. The promissory note is due November 28, 2014. There is no conversion feature associated with this promissory note. The note was paid in full on December 30, 2014. Total interest accrued and paid at payoff was $2,137. On August 7, 2014, the Company executed a promissory note with one of our shareholders and board members, for $25,000 at 15% interest per annum, secured by sales orders to finance operations and inventory purchases. The promissory note was due October 31, 2014. There is no conversion feature associated with this promissory note. This note replaced prior issued note dated June 27, 2014. On October 21, 2014, this note was paid off by an issuance of a promissory note with one of our board members in the amount of $870,457. The note is non-convertible and bears and interest rate of 10% per annum, and due October 22, 2015. Accrued interest of $247 as of the date of replacement was paid in full. On August 20, 2014, the Company executed a promissory note with one of our shareholders and board members, for $123,000 at 15% interest per annum, secured by sales orders to finance operations and inventory purchases. The promissory note was due November 30, 2014. There is no conversion feature associated with this promissory note. This notes replaced prior issued note dated June 27, 2014, for $63,000 and April 15, 2014, for $60,000. On October 21, 2014, this note was paid off by an issuance of a promissory note with one of our board members in the amount of $870,457. The note is non-convertible and bears and interest rate of 10% per annum, and due May 31, 2015. Accrued interest of $2,072 as of the date of replacement was paid in full. 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 is non-convertible, bears and interest rate of 10% per annum, is secured by accounts receivable, fixed assets, intellectual property, and the public entity PCSV net loss carry forward to finance operations and inventory purchases, due May 31, 2015. This note due date was subsequently extended to September 30, 2015. This note includes new cash lent to Borrower under this note of $175,000. This note includes $7,957 of accrued interest on the paid off notes listed below. This note pays off the following notes: $50,000 of the February 11, 2014, $250,000 Convertible long term related party; $145,000 dated May 7, 2014; $29,500 of the June 27, 2014, $105,000; $105,000 dated July 21, 2014; $210,000 dated July 28, 2014; $25,000 dated 08/08/2014; $123,000 dated August 20, 2014. $22,222 of interest was rolled into principal on January 1, 2015; resulting in a principal balance of $892,679. The Principle balance at March 31, 2016, remains $892,679 and accrued interest as of March 31, 2016 and 2015 of $111,768 and $21,413, respectively. On October 22, 2014 the Company executed a promissory note with a related party for credit up to $20,000 at 12% interest per annum. The promissory note was due December 31, 2014. There is no conversion feature associated with this promissory note. The principle balance on December 31, 2014, was $14,217. This note was subsequently extended to February 15, 2015. This note was paid in full with all accrued interest on February 14, 2015. 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 existing AR on completed contracts, to finance operations and inventory purchases. This note due date was subsequently extended to April 30, 2016, and on June 8, 2016 extended to July 15, 2018. There is no conversion feature associated with this promissory note. Total interest accrued as of March 31, 2016 and 2015, was $14,947 and $1,313, respectively 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 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. During the year ending March 31, 2016, $38,184 in discount was amortized. This note was subsequently extended to April 30, 2016, and then combined with the $892,679 on June 8, 2016, totaling to a principal balance of $1,292,679 extended to July 15, 2018. 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. There is no conversion feature associated with this Promissory Note. The lender has provided the Company with extensions of due dates through April 30, 2016. The principal of $135,000 was subsequently combined with the $40,000 remaining principal below into a $175,000 note due January 15, 2019. The Accrued interest at March 31, 2016 was $14,947. 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 extensions of due dates through April 30, 2016. The March 31, 2016, end principal balance of $40,000 was subsequently combined with the $135,000 principal on the February 17, 2015, promissory note into a $175,000 note due January 15, 2019. The Accrued interest at March 31, 2016 was $8,045. On February 6, 2016 the Company executed a promissory note with one of our shareholders and board members, for $100,000 at 10% interest per annum. The promissory note was due February 29, 2016, and was extended multiple months to April 30, 2016. There is no conversion feature associated with this promissory note. The principal balance at March 31, 2016, was $100,000. The Accrued interest at March 31, 2016, was $1,452. This note was subsequently combined with promissory notes: March 16, 2016, for $100,000; April 1, 2016, for $100,000; and April 19, 2016, for $40,000. The resulting $340,000 promissory note bearing an interest rate of ten percent (10%) per annum has a due date of December 31, 2016. On March 16, 2016, the Company executed a promissory note with one of our shareholders and board members, for $100,000 at 10% interest per annum. The promissory note was due April 30, 2016. There is no conversion feature associated with this promissory note. The principal balance at March 31, 2016, was $100,000. The Accrued interest at March 31, 2016, was $384. This note was subsequently combined with promissory notes: February 6, 2016, for $100,000; April 1, 2016, for $100,000; and April 19, 2016, for $40,000. The resulting $340,000 promissory note bearing an interest rate of ten percent (10%) per annum has a due date of December 31, 2016. Note Payable, Related Party, Long Term 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. The principle balance at March 31, 2016 and 2015 were $17,503 and 21,707, respectively. 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 nine percent (9%) per annum and are 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 Lenders financial institution. The note was 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 nine percent (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 amount until the final payment due on April 1, 2020. During FY 2016 payments were drawing down the principal balance $7,171, paid $4,193 in interest, to a March 31, 2016, ending principal balance of $42,204. On April 18, 2012, the Company entered into a long-term promissory note with Anthony A. Maher 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 institution. On March 31, 2016, $903 over the interest only payment had been paid resulting in ending principal amount of $21,092. Convertible Note Payable Non-related party On August 1, 2012, the Company issued amendments to the convertible note agreements (convertible into common stock at a rate of $0.15 per share) in the aggregated amount of $215,000 and extended the due date with the repayments in the amount of $40,000 per quarter to begin April, 2013, and the final payments due in August, 2014, with any remaining balance due at that time. In consideration for extending the due date of the promissory notes, the expiration dates on the warrants issued (fully expensed in the prior period) on March 31, 2011, and June 27, 2011, were amended and extended an additional three years, making the new expiration dates August 1, 2017. 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 same rate as the warrants. Subsequently and effective June 7, 2013, we executed an amendment to the loan transaction. The amended transaction involved the extension of the Promissory Note from April 30, 2013, to April 30, 2016, with the creditors waiving any default under the previous note. The Company made interest payments to each of the eight note holders for all accrued interest from August 1, 2012, to April 30, 2013, for consideration of the extension. On the fourth extension, all accrued interest was combined with the original principal amount as of July 31, 2012. The Company has agreed to make quarterly interest payments to each of the note holders during the term of the extension. All other terms of the previous Promissory Note, Security Agreement and related warrants remain in full force and effect. On July 13, 2015, three non-related party conversions with a principal balance total of $102,033 combine with the accrued interest to date of $17,894 was converted to 799,514 shares of common stock. As of March 31, 2016, the ending principle balance was $90,696, after the related party conversion noted in the Related Party section. Interest accrued as of March 31, 2016 and 2015, for the total set of notes remaining was $9,119 and $23,711, respectively. On April 30, 2013, the Company entered into a loan transaction with an accredited investor for a Promissory Note, payable with interest at 8% per annum in the amount of $5,000, convertible into shares of common stock of the Company at a price of $0.20 per share. The note is due twenty-four months from the date of the note, on or before August 31, 2015. The principle balance of $5,000 along with total accrued interest as of June 30, 2015 was paid in full on July 1, 2015. On July 30, 2013, the Company entered into a loan transaction with an accredited investor for a promissory Note, payable with interest at 8% per annum in the amount of $5,000, convertible into shares of common stock of the Company at a price of $0.20 per share. The note is due twenty-four months from the date of the note, on or before July 30, 2015. No debt discount was recognized as the conversion price is considered out of the money, therefore no discount was necessary. The principle balance of $5,000 along with total accrued interest $900 as of June 30, 2015, was paid in full on July 1, 2015. On February 26, 2013, we executed a promissory note with one of our shareholders, for $65,000 at 15% interest per annum, secured by seven of our sales orders to finance inventory purchases. The promissory note was due on or before April 20, 2013. There is no conversion feature associated with this promissory note. A payment of $20,000 was made against the principal on the note on April 1, 2013. The remaining $45,000 was extended and made part of the $95,000 convertible promissory note issued on May 24, 2013, which included an additional $50,000 promissory note as describe in the 8-K filed on May 24, 2013, with a maturity date of August 24, 2016, and conversion rate of $0.0325. The debt discount was calculated as $21,923. This note was converted on July 21, 2014, with total accrued interest of $6,041 into 3,108,944 shares. During the period ended September 30, 2014, $1,639 discount was amortized and the remaining debt discount of $15,176 was fully expensed upon conversion. Due to conversion within the terms of the note, no gain or loss was recognized. On February 29, 2012, the Company entered into three separate convertible promissory notes in the aggregate amount of $100,000. The notes bear interest at ten percent (10%) per annum and were due on May 30, 2012. At the sole option of each respective Lender, the outstanding balance of the notes may be converted into shares of restricted Rule 144 common stock of the Borrower at a price per share of $0.05. In the event Lender elects to convert any outstanding balance due under this note into such shares, Lender shall give written notice to the Borrower seven (7) days prior to the effective date of such exercise. At Borrowers sole option, Borrower may elect to pay Lender in cash up to one-half (1/2) of the then principal and interest due under the note. In such event, the remaining balance of principal and interest shall be converted as provided under the note agreement. On June 14, 2012, one of the notes, in the amount of $50,0 |
Commitments and Contingencies
Commitments and Contingencies | 12 Months Ended |
Mar. 31, 2016 | |
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 Company signed a lease on February 1, 2015 on 3609 square feet of the original corporate offices for a period of 12 months, expiring on January 31, 2016. Rent expense for the corporate offices was $13,444 and 14,185 for the quarter ended March 31, 2016 and 2015, and $54,135 and $77,869 for the twelve months ended March 31, 2016 and 2015, respectively, under this lease arrangement. 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 12 months ending January 31, 2016. The company signed a lease amendment for the main office space on May 11 th 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 lease was extended to a new expiration of 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 amendment to extend the lease term for all bays to April 30, 2016. Rent expense for the warehouse was $6,630 and $4,170 for the quarter ended March 31, 2016 and 2015, and $25,130 and $16,225 for the twelve-months ended March 31, 2016 and 2015, respectively. On March 15, 2016, the Company leased a warehouse, office space, and manufacturing facility of approximately 10,000 square feet for $6,300/month for 12 months. On April 28 th The Company leased an additional learning lab site in Eagle Idaho in Q1 of fiscal year 2015. The lease term is 3 years for 1,050 sf for an annual base rent of $16,640 or $1,387 per month, with 3% growth per year. Minimum lease obligation over the next 5 years Fiscal Year Amount 2017 $ 136,353 2018 12,150 2019 - 2020 - 2021 - Total $ 148,503 b. Litigation Anthony Maher brought suit against PCS in January of 2014, claiming breach of an employment contract, interference with economic expectancy, and fraud. A settlement was agreed 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 costing the Company $10,000 after insurance settlement and $2,650 in mediation fees, to avoid the expense of defending it in court. The settlement agreement was executed on July 9, 2014. 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 action was brought in the District Court of the Fourth Judicial District of the State of Idaho, in and for the County of Ada, Civil Action number CV PI 1507419. 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. On October 13, 2015, PCS filed a Summons and Complaint against Ty Jacobsen, dba Jacobsen Enterprises. The complaint primarily involved defamation and breach of contract. The Complaint is un-resolved at this time and the Company is in negotiations with Mr. Jacobsen. The outcome of this matter is unknown as of the report date. |
Accrued Expenses
Accrued Expenses | 12 Months Ended |
Mar. 31, 2016 | |
Accounts Payable and Accrued Liabilities, Fair Value Disclosure [Abstract] | |
Accrued Expenses | NOTE 11 - ACCRUED EXPENSES Accrued expenses are made up of the following at March 31, 2016 and March 31, 2015. March 31, 2016 2015 Interest payable $ 222,409 $ 68,963 Sales tax payable 334 634 Credit card debt 77243 31,685 Other - 1,654 Total accrued expenses $ 299,986 $ 102,936 |
Dilutive Instruments
Dilutive Instruments | 12 Months Ended |
Mar. 31, 2016 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Dilutive Instruments | NOTE 12 - 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 pronouncement 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 and Not Issued Cancelled Exercised Outstanding Exercisable Vested Balance as of March 31, 2014 27,856,655 14,789,300 9,722,210 3,345,145 2,320,145 1,025,000 Warrants 2,000,000 605,000 - 1,395,000 1,395,000 - Common Stock Options - 750,150 - (750,150 ) (80150 ) (670,000 ) Balance as of March 31, 2015 29,856,655 16,144,450 9,722,210 3,989,995 3,634,995 355,000 Warrants - 385,000 120,000 (505,000 ) (505,000 ) - Common Stock Options 1,050,000 (45,993 ) 65,000 1,030,993 335,993 695,000 Balance as of March 31, 2016 30,906,655 16,483,457 9,907,210 4,515,988 3,465,988 1,050,000 65,000 common stock options were exercised during the year ended March 31, 2016. No common stock options were exercised during the years ended March 31, 2015. During the fiscal year ending March 31, 2016, the CEO exercised 25,000 options earned from an employee incentive stock option agreement dated July 15, 2012, using the cashless option into 19,000 shares of restricted common stock. The price per share was $0.06 discounted from market value of $0.25 at the time of exercise resulted in a reduction of 6,000 shares of common stock. During the year ended March 31, 2016, the Company issued and cancelled 0 and 385,000 warrants, respectively. Stock options issued and cancelled during the same period was 1,050,000 and (45,993) respectively. During the year ending March 31, 2015, 375,000 of these options were erroneously expired. 375,000 incentive stock options were adjusted back onto the Company option ledger during the year ending March 31, 2016 together with 329,007 options expired. During the year ended March 31, 2015, the Company issued and cancelled 2,000,000 and 605,000 warrants, respectively. Stock options issued and cancelled during the same period was 0 and 750,150 respectively. Cancellations are, in general, due to employee terminations prior to the common stock option being fully vested. Expirations are due to common stock options not being exercised prior to the stated expiration date. Options February 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 employee. 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 $15,926. The options vest over a three-year period and are exercisable at a range of $.05 to $0.6 per share, which represents the fair market value at the date of grant in accordance with the 2009 Equity Incentive Plan. As of March 31, 2015 and 2016, $5,284 and $4,970 in value of the options was expensed. January 1, 2014, the Company granted 40,000 incentive options each 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 $5,908. The options vest over a three-year period and are exercisable at a range of $.05 to $0.6 per share, which represents the fair market value at the date of grant in accordance with the 2009 Equity Incentive Plan. As of March 31, 2015 and 2016, $1,964 and $1,373 in value of the options was expensed. On May 15, 2012, the Company granted 850,000 incentive stock options to an officer, Robert Grover. The expected volatility rate of 223.62% was 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. During the year ending March 31, 2015, 375,000 of these options were erroneously expired. 375,000 incentive stock options were adjusted back onto the Company option ledger during the year ending March 31, 2016. As of March 31, 2015 and 2016, $9,914 and $2,161, respectively, in 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. As of March 31, 2015 and 2016, $0 and $5,392 in value of the options was expensed. On February 16, 2016, the Company granted 850,000 incentive stock options to three employees. The expected volatility rate of 218.68% was calculated using the Company stock price over the period beginning February 14, 2014 through date of issue. A risk free interest rate of 0.29 % was used to value the options. The options were valued using the Black-Scholes valuation model. The total value of these options was $24,154. The options vest over a two-year period and are exercisable at $0.04 per share which represents the fair market value at the date of grant in accordance with the 2009 Equity Incentive Plan. As of March 31, 2015 and 2016, $0 and $1,373 in value of the options was expensed. Warrants On September 12, 2013, the Company issued contingent warrants to purchase an aggregate of 30,000 shares of restricted Rule 144 common stock at $0.10 to $0.20 per share. The warrant expires 18 months from date of warrant. The warrants were valued using the Black Scholes Valuation Model, resulting in a fair value of $1,581. The warrants expired on March 17, 2015. On January 17, 2013, the Company issued 100,000 warrants to a shareholder with a 36 month term at $0.07 per share exercise price as consideration for the issuance of a Promissory Note in the amount of $200,000, in which $63,000 was to be considered advanced under a previous Note between Borrower and Lender dated December 26, 2012. The warrants were evaluated for embedded derivatives in accordance with ASC 815 and were found to not include any embedded derivatives. The warrants attached to the note were valued using the Black Scholes Valuation Model, resulting in a fair value of $7,977. This value was recorded as a debt discount and is being amortized over the life of the loan. The note was paid in full on April 1, 2013. On January 22, 2015, the Company issued 2,000,000 warrants to a shareholder and Board member with a 36 month term to purchase restricted Rule 144 Common Stock, no par value (the Share), as consideration for the issuance of a promissory note in the amount of $400,000, from the Company at a purchase price of $0.04 per share of Common Stock (the Exercise Price). These Warrants are fully vested and exercisable. The warrants were evaluated for embedded derivatives in accordance with ASC 815 and were found to not include any embedded derivatives. The warrants attached to the note were valued using the Black Scholes Valuation Model. The assumptions used in the model included the historical volatility of the Companys stock of 180%, and the risk-free rate for the periods within the expected life of the warrant based on the U.S. Treasury yield curve in effect of 0.35%. The resulting fair value is $66,717. This value was recorded as a debt discount and is being amortized over the life of the loan. $28,533 was amortized as of March 31, 2015. 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. |
Related Party Transactions
Related Party Transactions | 12 Months Ended |
Mar. 31, 2016 | |
Related Party Transactions [Abstract] | |
Related Party Transactions | NOTE 13 - RELATED PARTY TRANSACTIONS During the fiscal year ending March 31, 2016, the Company converted 692,300 restricted stock units (RSUs) of the 692,300 issued to common stock for non-management directors for services rendered during the period September 1, 2014, to September 30, 2015, at a rate of one share of common stock for each restricted stock unit. See Note 8. During the fiscal year ending March 31, 2016, the Company issued 377,000 shares of common stock to employees. The per share price range was $0.04 to $0.10 for a net value of $17,500 based on the closing price of the Companys common stock on the date of grant. See Note 8. During the fiscal year ending March 31, 2016, the Company issued 1,066,006 shares of common stock for the conversion of promissory notes issued to a private investor, former officer, and members of the board of directors. The price per share value of $0.15 resulted in a net value of $159,901. Due to conversion within the terms of the note, no gain or loss was recorded as a result of the conversion. See Note 8. During the fiscal year ended March 31, 2016, and March 31, 2015, the Company entered into various loan transactions with a member of the Board of Directors and Shareholder, Todd Hackett. The loans were done at arms-length and are fully disclosed in Note 9. During the fiscal yeard ending March 31, 2016, the Company issued 27,000 shares of common stock to employees. The per share option range was $0.05 to $0.06, but the cashless option was exercised. See Note 8. During the fiscal year ending March 31, 2015, the Company converted 489,286 restricted stock units (RSUs) of the 489,286 issued to common stock for non-management directors for services rendered during the period September 1, 2013, to August 31, 2014, at a rate of one share of common stock for each restricted stock unit. See Note 8. During the fiscal year ending March 31, 2015, the Company issued 170,000 shares of common stock to employees. The per share price range was $0.04 to $0.52 for a net value of $8,1600 based on the closing price of the Companys common stock on the date of grant. See Note 8. During the fiscal year ending March 31, 2015, the Company issued 18,455,666 shares of common stock for the conversion of promissory notes issued to a private investor, former officer, and members of the board of directors. The price per share value ranged from $0.03 to $0.06 resulting in a net value of $696,374. Due to conversion within the terms of the note, no gain or loss was recorded as a result of the conversion. See Note 8. During the year ended March 31, 2015, the Company issued 400,000 shares of common stock in settled mediation of a previous employment contract. The per share was $0.06 for a net value of $22,000 based on the closing price of the Companys common stock on the date of grant. See Note 8. During the fiscal year ended March 31, 2016, and March 31, 2015, the Company entered into various loan transactions with members of the Board of Directors (Todd Hackett and Murali Ranganathan) and Shareholders. The loans were done at arms-length and are fully disclosed in Note 9. During the fiscal year ending March 31, 2015, the Company issued 40,000 shares of common stock to an employee. The per share is $0.05 for a net value of $2,000 based on the closing price of the Companys common stock on the date of grant. See Note 8. During the fiscal year ending March 31, 2015, the Company issued 40,000 shares of common stock to an employee. The per share is $0.04 for a net value of $1,600 based on the closing price of the Companys common stock on the date of grant. See Note 8. During the fiscal year ending March 31, 2015, the Company issued 10,000 shares of common stock to an employee. The per share is $0.04 for a net value of $400 based on the closing price of the Companys common stock on the date of grant. See Note 8. |
Accounts Receivable
Accounts Receivable | 12 Months Ended |
Mar. 31, 2016 | |
Receivables [Abstract] | |
Accounts Receivable | NOTE 14 - ACCOUNTS RECEIVABLE The Companys concentration of credit risk consists primarily of trade receivables. In the normal course of business, the Company provides credit terms to its customers, which generally range from net 15 to 30 days. The Company performs ongoing credit evaluations of its customers and maintains allowances for possible losses, which, when realized, have been within the range of managements expectations. The allowance is based on the higher of the prior three-year historical uncollectable accounts as a percentage of sales or specifically identified aging accounts over 90 days. Total bad debt allowance as of March 31, 2016 and 2015, was $2,096 and $3,184, respectively. |
Other Assets
Other Assets | 12 Months Ended |
Mar. 31, 2016 | |
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract] | |
Other Assets | NOTE 15 - OTHER ASSETS During the year ended March 31, 2009, the Company contracted for the production of a plastic mold (a covering for the third generation proprietary electronic controller, The Brain). The Brain is incorporated into AOR product line. The cost of the mold was $28,426. The cost is amortized on a per unit basis with a total estimated 10,000 units. As of March 31, 2013, the Company had amortized 2,805 units. Due to usage of the mold being slower than anticipated an additional amortization charge of $4,592 was recorded during the year ended March 31, 2012, to better approximate straight-line depreciation. During the fiscal year ended March 31, 2013, the Company continued to use the straight-line method to depreciate the mold. As a cost savings measure the Company outsourced some of its manufacturing to a company in China for the controller case, The Brain, in which a new mold was created. The cost of the mold was $7,088 USD. Use of this mold began in December 2012, in which at that time amortization began using the straight-line method. Amortization of the mold is included in cost of sales for AOR. The Company recorded a charge of $4,439 during the fiscal year ended March 31, 2014, for the amortization of both molds. The Company recorded a charge of $4,439 during the fiscal year ended March 31, 2015, for the amortization of both molds. The Company recorded a charge of $10,229 during the fiscal year ended March 31, 2016, for the amortization of both molds. |
Acquisition
Acquisition | 12 Months Ended |
Mar. 31, 2016 | |
Business Combinations [Abstract] | |
Acquisition | NOTE 16 - ACQUISITION Thrust UAV Transaction On February 15, 2016, the Company purchased substantially all of the assets of Thrust UAV, LLC (Thrust). Pursuant to the acquisition agreement, the Company purchased substantially all of the assets of Thrust not including cash on hand, all accounts and other receivables of Thrust UAV. The Company assumed debt owed to two previous investors in Thrust UAV. The acquisition expanded the Company's technical capabilities, resources, and product offerings. Pursuant to the acquisition agreement, the Company paid the following consideration: $108,547 payable to two prior investors in two short term promissory notes to be paid in 9 equal instalments starting on April 1, 2016 and the final payment on December 1, 2016. The acquisition has been accounted for under the acquisition method of accounting, and the Company valued all assets and liabilities acquired at their estimated fair values on the date of acquisition. Accordingly, the assets and liabilities of the acquired entity were recorded at their estimated fair values at the date of the acquisition. The operating results for Thrust UAV have been included in the Companys consolidated financial statements since the acquisition date. The purchase price allocation is based on estimates of fair value as follows: Machinery & Equipment $ 5,685 Contracts 92,265 Trade-name and brand 9,328 Goodwill 1,270 Total acquisition cost allocated $ 108,547 The purchase price consists of the following: Unsecured 9 month promissory notes $ 108,547 Management assigned fair values to the identifiable intangible assets through a combination of the relief from royalty method and the multi-period excess earnings method. The useful lives of the acquired Thrust UAV intangibles are as follows: Useful Lives (Years) Machinery & Equipment 1 Contracts 1 Trade Name 1 Proforma results of operations are not presented due to the investment test not reaching a level of significant acquisition. |
Other Income
Other Income | 12 Months Ended |
Mar. 31, 2016 | |
OTHER INCOME AND (EXPENSES) | |
Other Income | NOTE 17 - OTHER INCOME Other income is made up of the following at March 31, 2016 and March 31, 2015. 2016 2015 Interest Income - 3057 Gain on Bad Debt Collection - 2,996 Gain on Cancellation of Debt - 4,414 Other - 1,868 Total Other Income $ - $ 12,335 |
Subsequent Events
Subsequent Events | 12 Months Ended |
Mar. 31, 2016 | |
Subsequent Events [Abstract] | |
Subsequent Events | NOTE 18 - SUBSEQUENT EVENTS On April 1, 2016, the Company executed a promissory note with one of our shareholders and board member, for $100,000 at 10% interest per annum, due April 30, 2015. This note due date was subsequently extended to June 30, 2016, and then the $100,000 principal balance was rolled with the: April 19, 2016, $40,000 note; February 6, 2016, $100,000 note; March 16, 2016, $100,000 note. The resulting $340,000 promissory note bearing an interest rate of ten percent (10%) per annum has a due date of December 31, 2016. On April 29, 2016, the Company executed a promissory note with one of our shareholders and board member, for $40,000 at 10% interest per annum, due May 31, 2016. This note due date was subsequently extended to June 30, 2016, and then the $100,000 principle balance was rolled with the: April 11, 2016, $100,000 note; February 6, 2016, $100,000 note; March 16, 2016, $100,000 note. The resulting $340,000 promissory note bearing an interest rate of ten percent (10%) per annum has a due date of December 31, 2016. The Company executed a promissory note with one of our shareholders and board members in the amount of $892,679. The note is non-convertible and bears an interest rate of 10% per annum, and due April 30, 2015. This note due date was subsequently extended to May 31, 2016. On June 8, 2016, this note was consolidated with the January 15, 2016, $400,000 promissory note to form a $1,292,679 non-convertible note bearing an interest rate of 10% per annum and due July 15, 2018. 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 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 subsequently extended to April 30, 2016, and then combined with the $892,679 note on June 8, 2016, totaling to a principal balance of $1,292,679 extended to July 15, 2018. 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 existing AR on completed contracts, to finance operations and inventory purchases. This note due date was extended to April 30, 2016, and then May 31, 2016. This promissory note was consolidated with the remaining $40,000 principal balance on the April 20, 2015, promissory note to form a $175,000 promissory note at 10% interest per annum, due January 15, 2019. 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 existing AR, to finance operations and inventory purchases. There is no conversion feature associated with this promissory note. 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. This note was extended to May 31, 2016. This promissory note was consolidated with the remaining February 17, 2015, promissory note $135,000 principle balance on the April 20, 2015, promissory note to form a $175,000 promissory note at 10% interest per annum, due January 15, 2019. On April 29, 2016, Todd R. Hackett, the Companys Co-CEO, shareholder, predominant promissory note holder, and Board of Directors member, converted into shares the October 21, 2014, $200,000 convertible promissory note, at the contracted market price of $0.04. This note was converted along with accrued interest on April 29, 2016, into 5,763,014 shares of common stock. As of March 31, 2015, the ending principal balance was $90,696, of the March 31, 2011, $215,000 original aggregate promissory notes. These two remaining note holders subsequently agreed on April 29, 2016, to extend these notes to be due April 30, 2017. On April 27, 2016, the Board of Directors resolved to pay the supplemental compensation defined in Robert O. Grovers November 18, 2015, agreement in equal installments from May 5, 2016, through January 5, 2017. The Company signed a lease amendment for the main office space on May 11 th On March 15, 2016, the Company leased a warehouse, office space, and manufacturing facility of approximately 10,000 square feet for $6,300/ month for 12 months. On April 28 th On April 1, 2016, the Company executed a promissory note with one of our shareholders and board members, for $100,000 at 10% interest per annum, due April 30, 2016, This note due date was subsequently extended to June 30, 2016, and on June 8, 2016, consolidate with existing notes for new principle balance of $340,000 extended to December 31, 2016. On April 19, 2016, the Company executed a promissory note with one of our shareholders and board members, for $40,000 at 10% interest per annum, due April 30, 2016, This note due date was subsequently extended to June 30, 2016, and on June 8, 2016, consolidate with existing notes for new principle balance of $340,000 extended to December 31, 2016. On April 29, 2016, Todd R. Hackett converted the convertible promissory note created October 21, 2014, at 10% interest, in the amount of $200,000, with accrued interest of $30,521 into 5,763,014 shares of common stock of the Company, at the market price of $0.04. On May 26, 2016, the Company Director and Officer insurance policy was not renewed. A 12 month run-off policy was purchased. On June 7, 2016, the Board of Directors accepted Russelee Horsburghs resignation of the Vice President and Treasurer positions and principle financial officers responsibilities. She will remain an employee of the company and continue in a financial reporting role while supporting the transition and new Vice President and Treasurer starting July 1, 2016. On June 8, 2016, the sole member of the Board of Directors, Todd R. Hackett, consolidated all existing promissory notes and extended them as follows: 03/31/16 Principal Balance Origination Date Original Due Date Amended Due Date Consolidated Note Due Date Interest Rate Principal 03/31/16 Interest Accrued 03/31/16 Consolidated Note Balance $ 892,679 10/21/2014 5/31/2015 6/30/2016 10.00 % $ 892,679 $ 111,768 $ 400,000 1/16/2015 6/30/2015 6/30/2016 7/15/2018 10.00 % $ 400,000 $ 30,247 $ 1,292,679 $ 135,000 2/17/15,3/5/15 6/30/2015 6/30/2016 10.00 % $ 135,000 $ 14,947 $ 40,000 4/20/2015 6/30/2015 6/30/2016 1/15/2019 10.00 % $ 40,000 $ 8,045 $ 175,000 $ 100,000 2/6/2016 2/29/2016 6/30/2016 10.00 % $ 100,000 $ 1,452 $ 100,000 3/16/2016 4/30/2016 6/30/2016 10.00 % $ 100,000 $ 384 $ 100,000 4/1/2016 4/30/2016 6/30/2016 10.00 % $ 100,000 n/a $ 40,000 4/19/2016 4/30/2016 6/30/2016 12/31/2016 10.00 % $ 100,000 n/a $ 340,000 On June 8, 2016, the sole member of the Board of Directors, Todd R. Hackett, appointed Robert O. Grover and Michael Bledsoe, as uncompensated Directors, to the Board of Directors. |
Summary of Significant Accoun25
Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Mar. 31, 2016 | |
Accounting Policies [Abstract] | |
Accounting Method | a. Accounting Method The Companys financial statements are prepared using the accrual method of accounting. The Company has elected a March 31 year-end. |
Estimates | b. Estimates The preparation of financial statements in conformity with Generally Accepted Accounting Principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. |
Concentration of Credit Risks and Significant Customers | c. Concentration of Credit Risks and Significant Customers The Company maintains cash in bank deposit accounts, which, at times, may exceed federally insured limits. The Company has not experienced any losses in such accounts and believes it is not exposed to any significant credit risk on cash and cash equivalents. Financial instruments that potentially subject the Company to concentration of credit risk consist primarily of trade receivables. In the normal course of business, the Company provides credit terms to its customers. Accordingly, the Company performs ongoing credit evaluations of its customers and maintains allowances for possible losses which when realized have been within the range of managements expectations. The Company does not require collateral from its customers. The Company has established an allowance for doubtful accounts of $2,096 and $3,184 for the fiscal years ended March 31, 2016 and 2015, respectively. During the last two fiscal years ended March 31, 2016 and March 31, 2015, the following major customers exceeded 10% of revenue: For the Years Ended March 31, 2016 2015 Tatweer $ 648,408 19 % $ 971,391 33 % Stemfinity $ 502,641 15 % $ 434,410 15 % Catapult Learning $ 833,322 25 % $ 218,960 8 % Major customer accounts receivable near or greater than 10% of total accounts receivable at March 31, 2016 and March 31, 2015, were as follows: For the Years Ended March 31, 2016 2015 Tatweer $ 170,771 50 % $ 170,771 47 % Catapult Learning $ 103,394 36 % $ 103,394 29 % |
Fair Value of Financial Instruments | d. Fair Value of Financial Instruments On January 1, 2008, the Company adopted guidance which defines fair value, establishes a framework for using fair value to measure financial assets and liabilities on a recurring basis, and expands disclosures about fair value measurements. Beginning on January 1, 2009, the Company also applied the guidance to non-financial assets and liabilities measured at fair value on a non-recurring basis, which includes goodwill and intangible assets. The guidance establishes a hierarchy for inputs used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available. Observable inputs are inputs that market participants would use in pricing the asset or liability developed based on market data obtained from sources independent of the Company. Unobservable inputs are inputs that reflect the Companys assumptions of what market participants would use in pricing the asset or liability developed based on the best information available in the circumstances. The hierarchy is broken down into three levels based on the reliability of the inputs as follows: Level 1 - Inputs are unadjusted quoted prices in active markets for identical assets or liabilities that the Company has the ability to access at the measurement date. Level 2 - Inputs include quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the asset or liability (e.g., interest rates, yield curves, etc.), and inputs that are derived principally from or corroborated by observable market data by correlation or other means (market corroborated inputs). Level 3 - Unobservable inputs that reflect our assumptions about the assumptions that market participants would use in pricing the asset or liability. The following schedule summarizes the valuation of financial instruments at fair value on a non-recurring basis in the balance sheet as of March 31, 2016. Fair Value Measurements at March 31, 2016 Assets and Liabilities Level 1 Level 2 Level 3 Gain/(loss) $ - $ - $ - $ - $ - $ - $ - $ - The following table presents assets and liabilities that are measured and recognized at fair value as of March 31, 2015, on a non-recurring basis: Fair Value Measurements at March 31, 2015 Assets and Liabilities Level 1 Level 2 Level 3 Gain/(loss) $ - $ - $ - $ - $ - $ - $ - $ - The standard issued by the FASB concerning the fair value option for financial assets and liabilities became effective for the Company on January 1, 2008. The standard establishes a fair value option that permits entities to choose to measure eligible financial instruments and certain other items at fair value at specified election dates. A business entity shall report unrealized gains and losses on items for which the fair value options have been elected in earnings at each subsequent reporting date. For the periods ended March 31, 2016 and 2015, there were no applicable items on which the fair value option was elected. |
Revenue Recognition | e. Revenue Recognition PCS recognizes revenue for its two revenue streams: Product (Learning Labs) and Licensing in accordance with generally accepted accounting standards pertaining to revenue recognition of single unit and/or multiple deliverables. The Company recognizes product revenue in accordance with generally accepted accounting standards, which is codified under FASB ASC Topic 605 Revenue Recognition, under which revenue is recognized when it is realizable and when earned. Licensing Revenue is in relation to the sales of the learning labs. This revenue is based on a contractual term of one year, which begins when the physical lab is shipped to the customer. Should the customer terminate the licensing prior to the expiration of the contract, PCS does not have an obligation to refund any portion of the fees. As such, revenue is amortized and recorded over the life of the contractual license, in accordance with generally accepted accounting standards. |
Provision for Income Taxes | f. Provision for Income Taxes The Company accounts for income taxes under the asset and liability method, which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements. Under this method, deferred tax assets and liabilities are determined based on the differences between the financial statements and tax basis of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in income in the period that includes the enactment date. The Company recorded net deferred tax assets to the extent we believe these assets will more likely than not be realized. In making such a determination, we consider all available positive and negative evidence, including future reversals of existing taxable temporary differences, projected future taxable income, and results of recent operations. In the event we were to determine that we would be able to realize our deferred income tax assets in the future in excess of their net recorded amount, we would make an adjustment to the deferred tax asset valuation allowance. We record uncertain tax positions in accordance with ASC 740 on the basis of a two-step process whereby (1) we determine whether it is more likely than not that the tax positions will be sustained based on the technical merits of the position and (2) those tax positions that meet the more-likely-than-not recognition threshold, we recognize the largest amount of tax benefit that is greater than 50 percent likely to be realized upon ultimate settlement with the related taxing authority. The Company has no uncertain tax positions to disclose. Net deferred tax assets and liabilities consist of the following components as of March 31, 2016 and 2015: March 31, 2016 2015 Deferred Tax Assets NOL carryover $ 5,827,592 $ 4,967,771 Accumulated depreciation 5,629 3,239 Deferred revenue 3,413 9,263 Unearned revenue 16,001 52,521 Idaho ITC 7,287 7,307 Allowance for Bad Debt 817 1,242 Gross deferred tax assets 5,860,739 5,041,343 Valuation allowance (5,860,739 ) (5,041,343 ) Net deferred tax asset $ 0 $ 0 Deferred Tax Liabilities Accumulated depreciation $ - $ - Other - - Gross deferred tax liabilities $ $ Net deferred tax assets (liabilities) $ $ The reconciliation between the Companys effective tax rate on income from continuing operations and the statutory tax rate is as follows: March 31, 2016 2015 Book income $ (143,320 ) $ (492,259 ) State taxes (21,077 ) (72,393 ) Options expense 5,955 6,693 Other 6,282 1,150 Valuation allowance 152,160 556,809 $ $ At March 31, 2016 the Company had a net operating loss carry-forward of approximately $14,942,543 that may be offset against future taxable income. No tax benefit has been reported in the March 31, 2016, financial statements since the potential tax benefit is offset by a valuation allowance of the same amount. Due to the change in ownership provisions of the Tax Reform Act of 1986, net operating loss carry forward for Federal income tax reporting purposes are subject to annual limitations. Should a change in ownership occur, the net operating loss carry-forward may be limited as to use in future years. The Company files income tax returns in the United States, the State of Idaho and the State of California. The statute of limitations on a Federal tax return is the due date of the tax return plus three years. In the case of NOLs, the year in which the NOL was generated remains open up to the amount of the NOL until the statute of limitations expires on the year it was used. PCS Edventures first filed a tax return in 1994. Therefore no statutes have closed. The Company does not have any unrecognized tax benefits to report in the current period. The Companys policy is to recognize interest accrued related to unrecognized tax benefits in interest expense and penalties in operating expenses. |
Basic Loss Per Share | g. Basic Loss Per Share The computation of basic loss per share of common stock is based on the weighted average number of shares outstanding during the period of the financial statements in accordance with generally accepted accounting standards. Diluted loss per share is equal to basic loss per share as the result of the anti-dilutive nature of the stock equivalents. For the Years Ended March 31, 2016 2015 Basic and diluted loss per share from operations: Net loss $ (434,053 ) $ (1,447,820 ) Weighted average number of shares outstanding 75,150,169 61,071,903 Basic and diluted loss per share $ (0.01 ) $ (0.02 ) |
Recently Issued Accounting Pronouncements | h. Recently Issued Accounting Pronouncements In January 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2016-16, Financial Instruments -Overall (Subtopic 825-10), Recognition and Measurement of Financial Assets and Financial Liabilities. In November 2015, the FASB issued an ASU No. 2015-17, Income Taxes (Topic 740): Balance Sheet Classification of Deferred Taxes In September 2015, the FASB issued ASU No. 2015-16, Business Combinations (Topic 805), Simplifying the Accounting for Measurement-Period Adjustments , In April 2015, the FASB issued ASU No. 2015-03, InterestImputation of Interest (Subtopic 835-30) In June 2014, the FASB issued an accounting standard which provides new guidance that requires share-based compensation to meet a specific performance target to be achieved in order for employees to become eligible to vest in the awards and that could be achieved after an employee completes the requisite service period be treated as a performance condition. As such, the performance target should not be reflected in estimating the grant-date fair value of the award. Compensation costs should be recognized in the period in which it becomes probable that the performance target will be achieved and should represent the compensation cost attributable to the period(s) for which the requisite service has already been rendered. If the performance target becomes probable of being achieved before the end of the requisite service period, the remaining unrecognized compensation cost should be recognized prospectively over the remaining requisite service period. The total amount of compensation cost recognized during and after the requisite service period should reflect the number of awards that are expected to vest and should be adjusted to reflect those awards that ultimately vest. The requisite service period ends when the employee can cease rendering service and still be eligible to vest in the award if the performance target is achieved. This new guidance is effective for fiscal years and interim periods within those years beginning after December 15, 2015. Early adoption is permitted. Entities may apply the amendments in this Update either (a) prospectively to all awards granted or modified after the effective date or (b) retrospectively to all awards with performance targets that are outstanding as of the beginning of the earliest annual period presented in the financial statements and to all new or modified awards thereafter. The adoption of ASU 2014-12 is not expected to have a material impact on our financial position or results of operations. In June 2014, the FASB issued guidance to improve financial reporting by reducing the cost and complexity associated with the incremental reporting requirements of development stage entities. The amendments in this update remove all incremental financial reporting requirements from U.S. GAAP for development stage entities, thereby improving financial reporting by eliminating the cost and complexity associated with providing that information. The amendments in this Update also eliminate an exception provided to development stage entities in Topic 810, Consolidation, for determining whether an entity is a variable interest entity on the basis of the amount of investment equity that is at risk. The amendments to eliminate that exception simplify U.S. GAAP by reducing avoidable complexity in existing accounting literature and improve the relevance of information provided to financial statement users by requiring the application of the same consolidation guidance by all reporting entities. The elimination of the exception may change the consolidation analysis, consolidation decision, and disclosure requirements for a reporting entity that has an interest in an entity in the development stage. The amendments related to the elimination of inception-to-date information and the other remaining disclosure requirements of Topic 915 should be applied retrospectively except for the clarification to Topic 275, which shall be applied prospectively. For public companies, those amendments are effective for annual reporting periods beginning after December 15, 2014, and interim periods therein. Early adoption is permitted. The adoption of ASU 2014-10 is not expected to have a material impact on our financial position or results of operations. In August 2014, the FASB issued an accounting standard that requires management to assess an entitys ability to continue as a going concern by incorporating and expanding upon certain principles that are currently in U.S. auditing standards. Specifically, the standard (1) provide a definition of the term substantial doubt, (2) require an evaluation every reporting period including interim periods, (3) provide principles for considering the mitigating effect of managements plans, (4) require certain disclosures when substantial doubt is alleviated as a result of consideration of managements plans, (5) require an express statement and other disclosures when substantial doubt is not alleviated, and (6) require an assessment for a period of one year after the date that the financial statements are issued (or available to be issued). The standard in this Update is effective for the annual period ending after December 15, 2016, and for annual periods and interim periods thereafter. Early application is permitted. The adoption of ASU 2014-15 is not expected to have a material impact on our financial position or results of operations. In November 2014, the FASB issued new guidance for determining when separation of certain embedded derivative features in a hybrid financial instrument is required. That is, an entity will continue to evaluate whether the economic characteristics and risks of the embedded derivative feature are clearly and closely related to those of the host contract, among other relevant criteria. The amendments clarify how current GAAP should be interpreted in evaluating the economic characteristics and risks of a host contract in a hybrid financial instrument that is issued in the form of a share. The effects of initially adopting the amendments in this Update should be applied on a modified retrospective basis to existing hybrid financial instruments issued in the form of a share as of the beginning of the fiscal year for which the amendments are effective. Retrospective application is permitted to all relevant prior periods. The adoption of ASU 2014-16 is not expected to have a material impact on our financial position or results of operations. In November 2014, the FASB issued guidance to provide an acquired entity with an option to apply pushdown accounting in its separate financial statements upon occurrence of an event in which an acquirer obtains control of the acquired entity. After the effective date, an acquired entity can make an election to apply the guidance to future change-in-control events or to its most recent change-in-control event. However, if the financial statements for the period in which the most recent change-in-control event occurred already have been issued or made available to be issued, the application of this guidance would be a change in accounting principle. The amendments in this Update are effective on November 18, 2014. The adoption of ASU 2014-17 is not expected to have a material impact on our financial position or results of operations. |
Educational Software | i. Educational Software The Company has internally developed education computer programs and student exercises to be accessed on the Internet. In accordance with financial accounting standards pertaining to internally developed software, the costs associated with research and initial feasibility of the programs and student exercises are expensed as incurred. Once economic feasibility has been determined, the costs to develop the programs and student exercises are capitalized until the software is ready for sale. At that point, the development costs are reported at the lower of unamortized cost or net realizable value. Capitalized programs and student exercise inventory items are amortized on a straight-line basis over the estimated useful life of the program or exercise, generally 24 to 48 months. The Company evaluates its purchased intangibles for possible impairment on an ongoing basis. When impairment indicators exist, the Company will perform an assessment to determine if the intangible asset has been impaired and to what extent. The assessment of purchased intangibles impairment is conducted by first estimating the undiscounted future cash flows to be generated from the use and eventual disposition of the purchased intangibles and comparing this amount with the carrying value of these assets. If the undiscounted cash flows are less than the carrying amounts, impairment exists and future cash flows are discounted at an appropriate rate and compared to the carrying amounts of the purchased intangibles to determine the amount of the impairment. |
Intellectual Property | j. Intellectual Property The Companys intellectual property consists of capitalized costs associated with the development of the Internet software and delivery platform developed by the Company to enable access to the various educational programs and exercises developed by the Company. In accordance with generally accepted accounting standards as discussed previously regarding inventory, the initial costs associated with researching the delivery platform and methods were expensed until economic feasibility and acceptance were determined. Thereafter, costs incurred to develop the Internet online delivery platform and related environments were capitalized until ready for sale. Costs incurred thereafter to maintain the delivery and access platform are expensed as incurred. These capitalized costs are being amortized on a straight-line basis over the estimated useful life of the Companys delivery and access platform, which has been determined to be 60 months. |
Goodwill and Intangible Assets | k. Goodwill and Intangible Assets Goodwill is tested for impairment at a minimum on an annual basis. Goodwill is tested for impairment at the reporting unit level by first performing a qualitative assessment to determine whether it is more likely than not that the fair value of the reporting unit is less than its carrying value. If the reporting unit does not pass the qualitative assessment, then the reporting units carrying value is compared to its fair value. The fair values of the reporting units are estimated using market and discounted cash flow approaches. Goodwill is considered impaired if the carrying value of the reporting unit exceeds its fair value. The discounted cash flow approach uses expected future operating results. Failure to achieve these expected results may cause a future impairment of goodwill at the reporting unit. Intangible assets consist of patents and trademarks, purchased customer contracts, purchased customer and merchant relationships, purchased trade names, purchased technology, and non-compete agreements. Intangible assets are amortized over the period of estimated benefit using the straight-line method and estimated useful lives ranging from ten to twenty years. No significant residual value is estimated for intangible assets. We evaluate long-lived assets (including intangible assets) for impairment whenever events or changes in circumstances indicate that the carrying amount of a long-lived asset may not be recoverable. An asset is considered impaired if its carrying amount exceeds the undiscounted future net cash flow the asset is expected to generate. For the fiscal year ended March 31, 2016, the Company evaluated its purchased goodwill and related intangibles for possible impairment. The assessment of purchased intangibles impairment is conducted by first estimating the undiscounted future cash flows to be generated from the use and eventual disposition of the purchased intangibles and comparing this amount with the carrying value of these assets. The undiscounted future cash flows are more than the carrying amounts indicating no impairments exist, further, the future cash flows discounted at an appropriate rate do not substantiate any measureable impairment. As a result of the evaluation, no impairment was recorded for the fiscal year ended March 31, 2016. |
Property and Equipment | l. Property and Equipment Property and equipment are recorded at cost and are being depreciated for financial accounting purposes on the straight-line method over their respective estimated useful lives ranging from three to seven years. Upon retirement or other disposition of these assets, the cost and related accumulated depreciation are removed from the accounts and the resulting gains or losses are reflected in the results of operations. Expenditures for maintenance and repairs are charged to operating expense. Renewals and betterments are capitalized. |
Finished Goods Inventory | m. Finished Goods Inventory Finished goods inventory is composed of items produced in-house, as well as items from outside suppliers. These items include, but are not limited to, KNEX manipulatives, fischertechnik® manipulatives, ALCE manipulatives, LEGO® manipulatives, digital media equipment, furniture units, curriculum, blocks, poster packs, and other miscellaneous items used in our various labs. Our inventory is carried at the lower of cost or market and valued using the average cost method for each item. In addition, we have established a reserve of $3,391 for obsolete and slow moving items. |
Stock Options and Stock Grants | n. Stock Options and Stock Grants Effective January 1, 2006, the Company accounts for stock issued for employee benefits and goods and services received from non-employees in accordance with generally accepted accounting standards. The Company is required to recognize expense of options or similar equity instruments including 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. The Company accounts for shares issued to employees and others based upon the closing price of our common stock at the grant date. The Company has granted options and warrants to purchase PCS Edventures!.com common stock. These instruments have been valued using the Black-Scholes model and are fully detailed in Note 12. |
Other Receivables (Tables)
Other Receivables (Tables) | 12 Months Ended |
Mar. 31, 2016 | |
Other Receivables | |
Schedule of Other Receivables | March 31, 2016 2015 Other Receivable $ 33,319 $ 3,236 Total Other Receivable $ 33,319 $ 3,236 |
Summary of Significant Accoun27
Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Mar. 31, 2016 | |
Accounting Policies [Abstract] | |
Schedule of Major Customer Concentrations | During the last two fiscal years ended March 31, 2016 and March 31, 2015, the following major customers exceeded 10% of revenue: For the Years Ended March 31, 2016 2015 Tatweer $ 648,408 19 % $ 971,391 33 % Stemfinity $ 502,641 15 % $ 434,410 15 % Catapult Learning $ 833,322 25 % $ 218,960 8 % Major customer accounts receivable near or greater than 10% of total accounts receivable at March 31, 2016 and March 31, 2015, were as follows: For the Years Ended March 31, 2016 2015 Tatweer $ 170,771 50 % $ 170,771 47 % Catapult Learning $ 103,394 36 % $ 103,394 29 % |
Schedule of Financial Instruments Measured at Fair Value | The following schedule summarizes the valuation of financial instruments at fair value on a non-recurring basis in the balance sheet as of March 31, 2016. Fair Value Measurements at March 31, 2016 Assets and Liabilities Level 1 Level 2 Level 3 Gain/(loss) $ - $ - $ - $ - $ - $ - $ - $ - The following table presents assets and liabilities that are measured and recognized at fair value as of March 31, 2015, on a non-recurring basis: Fair Value Measurements at March 31, 2015 Assets and Liabilities Level 1 Level 2 Level 3 Gain/(loss) $ - $ - $ - $ - $ - $ - $ - $ - |
Schedule of Deferred Tax Assets and Liabilities | Net deferred tax assets and liabilities consist of the following components as of March 31, 2016 and 2015: March 31, 2016 2015 Deferred Tax Assets NOL carryover $ 5,827,592 $ 4,967,771 Accumulated depreciation 5,629 3,239 Deferred revenue 3,413 9,263 Unearned revenue 16,001 52,521 Idaho ITC 7,287 7,307 Allowance for Bad Debt 817 1,242 Gross deferred tax assets 5,860,739 5,041,343 Valuation allowance (5,860,739 ) (5,041,343 ) Net deferred tax asset $ 0 $ 0 Deferred Tax Liabilities Accumulated depreciation $ - $ - Other - - Gross deferred tax liabilities $ $ Net deferred tax assets (liabilities) $ $ |
Schedule of Income Tax Reconciliation | The reconciliation between the Companys effective tax rate on income from continuing operations and the statutory tax rate is as follows: March 31, 2016 2015 Book income $ (143,320 ) $ (492,259 ) State taxes (21,077 ) (72,393 ) Options expense 5,955 6,693 Other 6,282 1,150 Valuation allowance 152,160 556,809 $ $ |
Schedule Of Earnings Per Share | For the Years Ended March 31, 2016 2015 Basic and diluted loss per share from operations: Net loss $ (434,053 ) $ (1,447,820 ) Weighted average number of shares outstanding 75,150,169 61,071,903 Basic and diluted loss per share $ (0.01 ) $ (0.02 ) |
Prepaid Expenses (Tables)
Prepaid Expenses (Tables) | 12 Months Ended |
Mar. 31, 2016 | |
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract] | |
Schedule of Prepaid Expenses | Prepaid expenses for the periods are as follows: March 31, 2016 March 31, 2015 Prepaid insurance $ 4,766 $ 41,372 Prepaid inventory 38,940 50,057 Prepaid software 10,931 10,406 Prepaid expenses, other 11,591 10,869 Total Prepaid Expenses $ 66,228 $ 112,704 |
Goodwill and Other Intangible29
Goodwill and Other Intangible Assets (Tables) | 12 Months Ended |
Mar. 31, 2016 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Schedule of Goodwill and Other Intangible Assets | Goodwill and other intangible assets for the period are as follows: March 31, 2016 2015 Goodwill $ 1,270 $ - Intangible Assets 100,048 - Accum Amort Intangible Assets (12,525 ) - Total Goodwill and Intangible Assets $ 88,793 $ - |
Fixed Assets (Tables)
Fixed Assets (Tables) | 12 Months Ended |
Mar. 31, 2016 | |
Property, Plant and Equipment [Abstract] | |
Schedule of Fixed Assets | Assets and depreciation for the period are as follows: March 31, 2016 2015 Computer/office equipment $ 46,632 $ 43,320 Software 127,355 127,355 Accumulated depreciation (155,307 ) (144,821 ) Total Fixed Assets $ 18,680 $ 25,854 |
Notes Payable (Tables)
Notes Payable (Tables) | 12 Months Ended |
Mar. 31, 2016 | |
Debt Disclosure [Abstract] | |
Schedule of Notes Payable | Notes payable consisted of the following at March 31, 2016 and March 31, 2015 March 31, 2016 2015 Note Payable 149,878 18,117 Note Payable, Convertible, Related Party net discount of $0 and $24,063 as of March 31, 2016 and 2015. 200,000 175,937 Note Payable, Related Party, net discount of $0 and $38,184 as of March 31, 2016 and 2015 respectively 1, 667,679 1,438,870 Long Term Convertible Note, net discount of $0 and $0 as of March 31, 2016 and 2015, respectively 90,696 202,729 Note Payable, Related Party, long term 59,707 81,165 Line of Credit 21,092 21,708 Total Notes Payable $ 2,189,052 $ 1,938,526 |
Summary of Notes Payable Outstanding Including Interest Rate and Due Date | Original Principal Balance Origination Date Original Due Date Amended Due Date Interest Rate Principal 03/31/16 Interest accrued 03/31/16 Principal Balance 03/31/16 Principal Balance 03/31/15 Note Payable $ 84,000 2/12/2016 12/1/2016 12/1/2016 n/a $ 84,000 n/a $ 24,547 2/16/2012 12/1/2016 12/1/2016 n/a $ 24,547 n/a $ 20,000 5/1/2014 4/11/2017 4/11/2017 12.00 % $ 9,982 $ 2,288 $ 60,000 4/11/2014 3/11/2017 3/11/2017 12.00 % $ 31,349 $ 1,636 $ 149,878 18,117 Note Payable Related Party Convertible $ 200,000 2/1/2014 10/22/2015 4/30/2015 10.00 % $ 200,000 $ 28,932 $ 200,000 175,937 Note Payable Related Party $ 870,457 10/21/2014 5/31/2015 4/30/2016 10.00 % $ 892,679 $ 111,768 $ 400,000 1/16/2015 6/30/2015 4/30/2016 10.00 % $ 400,000 $ 30,247 $ 135,000 2/17/15,3/5/15 6/30/2015 4/30/2016 10.00 % $ 135,000 $ 14,947 $ 135,000 4/20/2015 6/30/2015 4/30/2016 10.00 % $ 40,000 $ 8,045 $ 100,000 2/6/2016 2/29/2016 4/30/2016 10.00 % $ 100,000 $ 1,452 $ 100,000 3/16/2016 4/30/2016 4/30/2016 10.00 % $ 100,000 $ 384 $ 1,667,679 1,438,870 Note Payable Convertible $ 30,000 3/31/2011 6/29/2011 4/30/2017 10.00 % $ 34,011 $ 8,517 $ 50,000 3/31/2011 6/29/2011 4/30/2017 10.00 % $ 56,685 $ 14,195 $ 90,696 202,729 Note Payable Related Party Long-Term $ 70,000 1/10/2012 1/10/2013 4/1/2020 9.00 % $ 42,204 n/a $ 39,050 9/13/2011 n/a n/a 8.75 % $ 17,503 n/a $ 59,707 81,165 $ 25,000 4/18/2012 4/18/2017 4/18/2017 7.50 % $ 21,092 n/a $ 21,092 21,708 $ 222,409 $ 2,189,052 1,938,526 |
Commitments and Contingencies (
Commitments and Contingencies (Tables) | 12 Months Ended |
Mar. 31, 2016 | |
Commitments and Contingencies Disclosure [Abstract] | |
Schedule of Future Lease Payments | Minimum lease obligation over the next 5 years Fiscal Year Amount 2017 $ 136,353 2018 12,150 2019 - 2020 - 2021 - Total $ 148,503 |
Accrued Expenses (Tables)
Accrued Expenses (Tables) | 12 Months Ended |
Mar. 31, 2016 | |
Accounts Payable and Accrued Liabilities, Fair Value Disclosure [Abstract] | |
Schedule of Accrued Expenses | Accrued expenses are made up of the following at March 31, 2016 and March 31, 2015. March 31, 2016 2015 Interest payable $ 222,409 $ 68,963 Sales tax payable 334 634 Credit card debt 77243 31,685 Other - 1,654 Total accrued expenses $ 299,986 $ 102,936 |
Dilutive Instruments (Tables)
Dilutive Instruments (Tables) | 12 Months Ended |
Mar. 31, 2016 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Schedule of Stock-Based Payment Awards | Total Issued and Not Issued Cancelled Exercised Outstanding Exercisable Vested Balance as of March 31, 2014 27,856,655 14,789,300 9,722,210 3,345,145 2,320,145 1,025,000 Warrants 2,000,000 605,000 - 1,395,000 1,395,000 - Common Stock Options - 750,150 - (750,150 ) (80150 ) (670,000 ) Balance as of March 31, 2015 29,856,655 16,144,450 9,722,210 3,989,995 3,634,995 355,000 Warrants - 385,000 120,000 (505,000 ) (505,000 ) - Common Stock Options 1,050,000 (45,993 ) 65,000 1,030,993 335,993 695,000 Balance as of March 31, 2016 30,906,655 16,483,457 9,907,210 4,515,988 3,465,988 1,050,000 |
Acquisition (Tables)
Acquisition (Tables) | 12 Months Ended |
Mar. 31, 2016 | |
Business Combinations [Abstract] | |
Estimated Fair Value of Purchase Price Allocation | The purchase price allocation is based on estimates of fair value as follows: Machinery & Equipment $ 5,685 Contracts 92,265 Trade-name and brand 9,328 Goodwill 1,270 Total acquisition cost allocated $ 108,547 |
Schedule of Purchase Price | The purchase price consists of the following: Unsecured 9 month promissory notes $ 108,547 |
Schedule of Intangible Assets Useful Lives | The useful lives of the acquired Thrust UAV intangibles are as follows: Useful Lives (Years) Machinery & Equipment 1 Contracts 1 Trade Name 1 |
Other Income (Tables)
Other Income (Tables) | 12 Months Ended |
Mar. 31, 2016 | |
OTHER INCOME AND (EXPENSES) | |
Schedule of Other Income | Other income is made up of the following at March 31, 2016 and March 31, 2015. 2016 2015 Interest Income - 3057 Gain on Bad Debt Collection - 2,996 Gain on Cancellation of Debt - 4,414 Other - 1,868 Total Other Income $ - $ 12,335 |
Subsequent Events (Tables)
Subsequent Events (Tables) | 12 Months Ended |
Mar. 31, 2016 | |
Subsequent Events [Abstract] | |
Schedule of Promissory Notes | 03/31/16 Principal Balance Origination Date Original Due Date Amended Due Date Consolidated Note Due Date Interest Rate Principal 03/31/16 Interest Accrued 03/31/16 Consolidated Note Balance $ 892,679 10/21/2014 5/31/2015 6/30/2016 10.00 % $ 892,679 $ 111,768 $ 400,000 1/16/2015 6/30/2015 6/30/2016 7/15/2018 10.00 % $ 400,000 $ 30,247 $ 1,292,679 $ 135,000 2/17/15,3/5/15 6/30/2015 6/30/2016 10.00 % $ 135,000 $ 14,947 $ 40,000 4/20/2015 6/30/2015 6/30/2016 1/15/2019 10.00 % $ 40,000 $ 8,045 $ 175,000 $ 100,000 2/6/2016 2/29/2016 6/30/2016 10.00 % $ 100,000 $ 1,452 $ 100,000 3/16/2016 4/30/2016 6/30/2016 10.00 % $ 100,000 $ 384 $ 100,000 4/1/2016 4/30/2016 6/30/2016 10.00 % $ 100,000 n/a $ 40,000 4/19/2016 4/30/2016 6/30/2016 12/31/2016 10.00 % $ 100,000 n/a $ 340,000 |
Organization and Description 38
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% |
Going Concern (Details Narrativ
Going Concern (Details Narrative) - USD ($) | 12 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ||
Revenues | $ 3,335,612 | $ 2,901,113 |
Percentage of revenue increase compared to same period in prior year | 15.00% | |
Net loss from continuing operations | $ (434,053) | (1,447,820) |
Cash flow from operations | $ (382,576) | $ (904,467) |
Other Receivables (Details Narr
Other Receivables (Details Narrative) - USD ($) | 12 Months Ended | |
Mar. 31, 2015 | Mar. 31, 2016 | |
Other Receivables Details Narrative | ||
Other receivable | $ 3,236 | $ 33,319 |
Bad debt expense related to other receivables | $ 3,236 | |
Prepaid royalty fees | $ 25,000 |
Other Receivables - Schedule of
Other Receivables - Schedule of Other Receivables (Details) - USD ($) | Mar. 31, 2016 | Mar. 31, 2015 |
Other Receivables - Schedule Of Other Receivables Details | ||
Other Receivable | $ 33,319 | $ 3,236 |
Total Other Receivable | $ 33,319 | $ 3,236 |
Summary of Significant Accoun42
Summary of Significant Accounting Policies (Details Narrative) - USD ($) | 12 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Accounts receivable, allowance for doubtful accounts | $ 2,096 | $ 3,184 |
Tax benefit | greater than 50 percent | |
Operating loss carry-forward | $ 14,942,543 | |
Intellectual Property estimated useful life | 60 months | |
Inventory obsolete and slow moving items reserve | $ 3,391 | |
Maximum [Member] | ||
Intangible assets useful life | 10 years | |
Minimum [Member] | ||
Intangible assets useful life | 20 years | |
Revenue [Member] | ||
Major customers exceeded revenue | 10.00% | 10.00% |
Accounts Receivable [Member] | ||
Major customers exceeded revenue | 10.00% | 10.00% |
Summary of Significant Accoun43
Summary of Significant Accounting Policies - Schedule of Major Customer Concentrations (Details) - USD ($) | 12 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Revenue | $ 3,335,612 | $ 2,901,113 |
Tatweer [Member] | Accounts Receivable [Member] | ||
Percentage | 50.00% | 47.00% |
Accounts receivable | $ 170,771 | $ 170,771 |
Catapult Learning [Member] | Accounts Receivable [Member] | ||
Percentage | 36.00% | 29.00% |
Accounts receivable | $ 103,394 | $ 103,394 |
Revenue [Member] | Tatweer [Member] | ||
Revenue | $ 648,408 | $ 971,391 |
Percentage | 19.00% | 33.00% |
Revenue [Member] | Stemfinity [Member] | ||
Revenue | $ 502,641 | $ 434,410 |
Percentage | 15.00% | 15.00% |
Revenue [Member] | Catapult Learning [Member] | ||
Revenue | $ 833,322 | $ 218,960 |
Percentage | 25.00% | 8.00% |
Summary of Significant Accoun44
Summary of Significant Accounting Policies - Schedule of Financial Instruments Measured at Fair Value (Details) - USD ($) | Mar. 31, 2016 | Mar. 31, 2015 |
Gain/(loss) | ||
Assets and Liabilities | ||
Level 1 [Member] | ||
Gain/(loss) | ||
Assets and Liabilities | ||
Level 2 [Member] | ||
Gain/(loss) | ||
Assets and Liabilities | ||
Level 3 [Member] | ||
Gain/(loss) | ||
Assets and Liabilities |
Summary of Significant Accoun45
Summary of Significant Accounting Policies - Schedule of Deferred Tax Assets and Liabilities (Details) - USD ($) | Mar. 31, 2016 | Mar. 31, 2015 |
Accounting Policies [Abstract] | ||
NOL carryover | $ 5,827,592 | $ 4,967,771 |
Accumulated depreciation | 5,629 | 3,239 |
Deferred revenue | 3,413 | 9,263 |
Unearned revenue | 16,001 | 52,521 |
Idaho ITC | 7,287 | 7,307 |
Allowance for Bad Debt | 817 | 1,242 |
Gross deferred tax assets | 5,860,739 | 5,041,343 |
Valuation allowance | (5,860,739) | (5,041,343) |
Net deferred tax asset | $ 0 | $ 0 |
Accumulated depreciation | ||
Other | ||
Gross deferred tax liabilities | ||
Net deferred tax assets (liabilities) |
Summary of Significant Accoun46
Summary of Significant Accounting Policies - Schedule of Income Tax Reconciliation (Details) - USD ($) | 12 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Accounting Policies [Abstract] | ||
Book income | $ (143,320) | $ (492,259) |
State taxes | (21,077) | (72,393) |
Options expense | 5,955 | 6,693 |
Other | 6,282 | 1,150 |
Valuation allowance | $ 152,160 | $ 556,809 |
Income tax |
Summary of Significant Accoun47
Summary of Significant Accounting Policies - Schedule Of Earnings Per Share (Details) - USD ($) | 12 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Accounting Policies [Abstract] | ||
Net Loss | $ (434,053) | $ (1,447,820) |
Weighted average number of shares outstanding | 75,150,169 | 61,071,903 |
Basic and diluted loss per share | $ (0.01) | $ (0.02) |
Prepaid Expenses - Schedule of
Prepaid Expenses - Schedule of Prepaid Expenses (Details) - USD ($) | Mar. 31, 2016 | Mar. 31, 2015 |
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract] | ||
Prepaid insurance | $ 4,766 | $ 41,372 |
Prepaid inventory | 38,940 | 50,057 |
Prepaid software | 10,931 | 10,406 |
Prepaid expenses, other | 11,591 | 10,869 |
Total Prepaid Expenses | $ 66,228 | $ 112,704 |
Goodwill and Other Intangible49
Goodwill and Other Intangible Assets (Details Narrative) - USD ($) | Mar. 31, 2016 | Mar. 31, 2015 |
Goodwill and Intangible Assets Disclosure [Abstract] | ||
Intangible asset amortization expense | $ (12,525) |
Goodwill and Other Intangible50
Goodwill and Other Intangible Assets - Schedule of Goodwill and Other Intangible Assets (Details) - USD ($) | Mar. 31, 2016 | Mar. 31, 2015 |
Goodwill and Intangible Assets Disclosure [Abstract] | ||
Goodwill | $ 1,270 | |
Intangible Assets | 100,048 | |
Accum Amort Intangible Assets | (12,525) | |
Total Goodwill and Intangible Assets | $ 88,793 |
Fixed Assets (Details Narrative
Fixed Assets (Details Narrative) - USD ($) | 12 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Property, Plant and Equipment [Abstract] | ||
Fixed asset depreciation expense | $ 10,486 | $ 26,816 |
Fixed Assets - Schedule of Fixe
Fixed Assets - Schedule of Fixed Assets (Details) - USD ($) | Mar. 31, 2016 | Mar. 31, 2015 |
Accumulated depreciation | $ (155,307) | $ (144,821) |
Total Fixed Assets | 18,680 | 25,854 |
Computer And Office Equipment [Member] | ||
Fixed Assets | 46,632 | 43,320 |
Software [Member] | ||
Fixed Assets | $ 127,355 | $ 127,355 |
Common and Preferred Stock Tr53
Common and Preferred Stock Transactions (Details Narrative) - USD ($) | Nov. 16, 2016 | Mar. 31, 2016 | Mar. 31, 2016 | Mar. 31, 2015 | Mar. 31, 2014 | Sep. 02, 2016 |
Issued shares service, value | $ 97,845 | $ 48,440 | $ 94,420 | |||
Common stock for bonuses | 88,968 | 25,086 | ||||
Deferred compensation common stock issuance | $ 3,240 | 3,240 | 26,911 | |||
Restricted stock units payable | 12,117 | |||||
Issued shares, value | 12,117 | 20,000 | ||||
Stock options and warrants granted in current period | 17,161 | |||||
Debt unamortized discount | 0 | $ 0 | 0 | |||
Debt forgiveness | 19,510 | |||||
Note payable | 30,000 | |||||
Remaining principal | $ 149,878 | $ 149,878 | 18,117 | |||
Accrued interest | $ 9,510 | |||||
Common stock, par value | ||||||
Common stock, shares authorized | 90,000,000 | 90,000,000 | 90,000,000 | |||
Common stock excess shares authorized | 100,000,000 | 100,000,000 | ||||
Common stock for exercise of options, shares | 9,907,210 | 9,722,210 | 9,722,210 | |||
Number of cashless options into shares of restricted common stock | 9,887,210 | |||||
Proceeds to sale of common stock | $ 8,400 | |||||
Stock options and warrants expenses | 15,269 | |||||
Number of common stock granted during the period | $ 8,400 | |||||
Preferred stock, shares authorized | 20,000,000 | 20,000,000 | 20,000,000 | |||
Preferred stock, shares issued | ||||||
Preferred stock, shares outstanding | ||||||
Chief Executive Officer [Member] | Employee Incentive Stock Option Agreement [Member] | ||||||
Common stock, price per share | $ 0.25 | $ 0.25 | ||||
Common stock for exercise of options, shares | 25,000 | |||||
Number of cashless options into shares of restricted common stock | 19,000 | |||||
Shares Issued on discount price per share | $ 0.06 | $ 0.06 | ||||
Number of common stock shares reduced during the time of exercise | 6,000 | |||||
Employees [Member] | ||||||
Stock options and warrants expenses | $ 358,000 | |||||
Number of common stock shares granted during the period | 8,908 | |||||
Shareholders [Member] | ||||||
Common stock excess shares authorized | 10,000,000 | |||||
Related Party [Member] | ||||||
Common stock granted as bonus, shares | 120,000 | |||||
Number of exercise warrants issued during the period | 120,000 | 120,000 | ||||
Warrants exercise price per share | $ 0.07 | $ 0.07 | ||||
Private Investors [Member] | ||||||
Number of shares issued during period conversion of promissory notes | 1,066,006 | |||||
Issued shares, value | $ 159,901 | |||||
Debt conversion price per share | $ 0.15 | $ 0.15 | ||||
Promissory Note [Member] | ||||||
Number of shares issued during period conversion of promissory notes | 18,455,666 | |||||
Issued shares, value | $ 696,374 | |||||
Long-Term Convertible Note Payable [Member] | ||||||
Debt unamortized discount | 50,000 | |||||
Beneficial conversion feature | $ 200,000 | |||||
Short-Term Convertible Note Payable [Member] | ||||||
Debt unamortized discount | $ 66,717 | |||||
Beneficial conversion feature | $ 400,000 | |||||
Non-Management Director [Member] | ||||||
Common stock granted as bonus, shares | 489,286 | |||||
Common stock for bonuses | $ 26,911 | |||||
Amount of restricted stock units forfeited | $ 26,911 | |||||
Common stock restricted unit value | $ 0.055 | |||||
Employment [Member] | ||||||
Common stock granted as bonus, shares | 400,000 | |||||
Common stock, price per share | $ 0.055 | |||||
Common stock for bonuses | $ 22,000 | |||||
Employees [Member] | ||||||
Common stock granted as bonus, shares | 3,600 | |||||
Common stock for bonuses | $ 80,000 | |||||
Restricted Stock Units (RSUs) [Member] | ||||||
Company issued shares of common stock for services | 692,300 | 692,300 | 489,286 | |||
Restricted Stock Units (RSUs) [Member] | Non-Management Director [Member] | ||||||
Company issued shares of common stock for services | 692,300 | |||||
Minimum [Member] | Employees [Member] | ||||||
Stock issued price Per share | $ 0.04 | $ 0.04 | ||||
Minimum [Member] | Promissory Note [Member] | ||||||
Common stock, price per share | $ 0.03 | |||||
Minimum [Member] | Employees [Member] | ||||||
Common stock, price per share | 0.04 | |||||
Minimum [Member] | Restricted Stock Units (RSUs) [Member] | Non-Management Director [Member] | ||||||
Stock issued price Per share | 0.11 | 0.11 | ||||
Maximum [Member] | Employees [Member] | ||||||
Stock issued price Per share | $ 0.10 | 0.10 | ||||
Maximum [Member] | Promissory Note [Member] | ||||||
Common stock, price per share | 0.06 | |||||
Maximum [Member] | Employees [Member] | ||||||
Common stock, price per share | $ 0.05 | |||||
Common Stock [Member] | ||||||
Company issued shares of common stock for services | 1,750,000 | |||||
Issued shares service, value | $ 97,500 | |||||
Common stock for bonuses | $ 8,160 | |||||
Common Stock [Member] | Employees [Member] | ||||||
Common stock granted as bonus, shares | 170,000 | |||||
Common Stock [Member] | Minimum [Member] | ||||||
Stock issued price Per share | $ 0.05 | |||||
Common Stock [Member] | Minimum [Member] | Employees [Member] | ||||||
Common stock, price per share | 0.04 | |||||
Common Stock [Member] | Maximum [Member] | ||||||
Stock issued price Per share | 0.06 | |||||
Common Stock [Member] | Maximum [Member] | Employees [Member] | ||||||
Common stock, price per share | $ 0.052 | |||||
Common Stock One [Member] | ||||||
Company issued shares of common stock for services | 398,000 | |||||
Issued shares service, value | $ 48,440 | |||||
Common Stock One [Member] | Minimum [Member] | ||||||
Stock issued price Per share | $ 0.11 | 0.11 | ||||
Common Stock One [Member] | Maximum [Member] | ||||||
Stock issued price Per share | 0.15 | 0.15 | ||||
Maximum [Member] | Restricted Stock Units (RSUs) [Member] | Non-Management Director [Member] | ||||||
Stock issued price Per share | $ 0.15 | $ 0.15 |
Notes Payable (Details Narrativ
Notes Payable (Details Narrative) | Mar. 16, 2016USD ($) | Feb. 12, 2016USD ($)Payment | Feb. 06, 2016USD ($) | Jul. 13, 2015USD ($)shares | Apr. 20, 2015USD ($) | Feb. 17, 2015USD ($) | Jan. 16, 2015USD ($) | Oct. 22, 2014USD ($) | Oct. 21, 2014USD ($)$ / shares | Sep. 30, 2014USD ($) | Aug. 20, 2014USD ($) | Aug. 07, 2014USD ($) | Jul. 28, 2014USD ($) | Jul. 21, 2014USD ($)$ / sharesshares | Jun. 27, 2014USD ($) | Jun. 21, 2014USD ($)shares | Jun. 03, 2014USD ($) | May 27, 2014USD ($) | May 21, 2014USD ($) | May 16, 2014USD ($) | May 05, 2014USD ($) | May 01, 2014USD ($) | Apr. 15, 2014USD ($) | Apr. 11, 2014USD ($) | Apr. 03, 2014USD ($) | Mar. 04, 2014USD ($) | Feb. 21, 2014USD ($) | Feb. 13, 2014USD ($) | Jan. 22, 2014USD ($) | Sep. 30, 2013USD ($)$ / shares | May 24, 2013USD ($)$ / shares | May 01, 2013USD ($) | Apr. 02, 2013USD ($) | Mar. 22, 2013USD ($) | Feb. 26, 2013USD ($) | Jun. 14, 2012USD ($)shares | Apr. 18, 2012USD ($) | Feb. 29, 2012USD ($)$ / shares | Jan. 13, 2012USD ($) | Dec. 30, 2011USD ($) | Mar. 31, 2016USD ($)shares | Mar. 31, 2015USD ($) | Sep. 30, 2014USD ($) | Mar. 31, 2016USD ($) | Mar. 31, 2015USD ($) | Mar. 31, 2014USD ($)$ / shares | Feb. 17, 2016USD ($) | Oct. 22, 2015 | Jun. 30, 2015USD ($) | Jan. 02, 2015USD ($) | Dec. 31, 2014USD ($) | Sep. 09, 2014USD ($) | Aug. 08, 2014USD ($) | Jun. 26, 2014USD ($) | May 07, 2014USD ($) | Apr. 22, 2014USD ($) | Feb. 11, 2014USD ($) | Jan. 08, 2014 | Jul. 30, 2013USD ($)$ / shares | Apr. 30, 2013USD ($)$ / shares | Mar. 31, 2013USD ($) | Jan. 11, 2013USD ($)$ / shares | Aug. 01, 2012USD ($)$ / shares | Dec. 31, 2011USD ($)$ / shares | Sep. 13, 2011USD ($) |
Note payable | $ 30,000 | $ 30,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | $ 222,409 | 68,963 | $ 222,409 | 68,963 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Note payable to related party | 59,707 | 81,165 | 59,707 | 81,165 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt converted into shares of common stock amount | 159,901 | 696,374 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt unamortized discount | 0 | 0 | 0 | 0 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Amortization of debt discount | $ 62,247 | 374,738 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Gain on debt forgiveness | 19,510 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Proceeds from note payable | 80,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shareholders and Board [Member] | April 30, 2016 [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt principal amount | 892,679 | $ 892,679 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shareholders and Board [Member] | June 8, 2016 [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt principal amount | 1,292,679 | 1,292,679 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shareholders and Board [Member] | Non-Convertible Promissory Note [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt principal amount | $ 400,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt due date | Jun. 30, 2015 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt interest rate per annum | 10.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shareholders and Board [Member] | Promissory Note [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt principal amount | $ 135,000 | 135,000 | 135,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt due date | Jun. 30, 2016 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Note payable | 40,000 | 40,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | 14,947 | 14,947 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt interest rate per annum | 10.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Note payable to related party | 175,000 | 175,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shareholders and Board [Member] | Promissory Note One [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt principal amount | $ 135,000 | 40,000 | 40,000 | $ 135,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt due date | Jun. 30, 2015 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | 8,045 | 8,045 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt interest rate per annum | 10.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt principle and accrued interest amount | 95,000 | 95,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Note payable to related party | $ 175,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt extended due date | Jan. 31, 2016 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shareholders and Board [Member] | Promissory Note [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt principal amount | $ 100,000 | 100,000 | $ 100,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt due date | Feb. 29, 2016 | Dec. 31, 2016 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Note payable | 340,000 | $ 340,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | $ 1,452 | $ 1,452 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt interest rate per annum | 10.00% | 10.00% | 10.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shareholders and Board [Member] | Promissory Note [Member] | April 1, 2016[Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt principal amount | $ 100,000 | $ 100,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shareholders and Board [Member] | Promissory Note [Member] | April 19, 2016[Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt principal amount | 40,000 | 40,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shareholders and Board [Member] | Promissory Note [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt principal amount | $ 100,000 | 100,000 | $ 100,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt due date | Apr. 30, 2016 | Dec. 31, 2016 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Note payable | $ 100,000 | 340,000 | $ 340,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | $ 384 | $ 384 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt interest rate per annum | 10.00% | 10.00% | 10.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shareholders and Board [Member] | Promissory Note [Member] | April 1, 2016[Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Note payable | $ 100,000 | $ 100,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shareholders and Board [Member] | Promissory Note [Member] | April 19, 2016[Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Note payable | 40,000 | 40,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Note Payable One [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt principal amount | $ 84,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of monthly payment arrangement | Payment | 9 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt monthly payment | $ 9,333 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt maturity term | 9 months | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt due date | Dec. 1, 2016 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Note payable | 84,000 | 84,000 | 84,000 | 84,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | 0 | 0 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Note Payable Two [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt principal amount | $ 24,547 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of monthly payment arrangement | Payment | 9 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt monthly payment | $ 9,333 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt maturity term | 9 months | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt due date | Dec. 1, 2016 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Note payable | 24,547 | 24,547 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | 0 | 0 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Note Payable Three [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt principal amount | $ 20,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt maturity term | 36 months | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Note payable | 9,982 | 18,117 | 9,982 | 18,117 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | 1,611 | 2,288 | 1,611 | 2,288 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt interest rate per annum | 12.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Note Payable Four [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt principal amount | $ 60,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt maturity term | 36 months | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Note payable | 31,349 | 59,710 | 31,349 | 59,710 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | 1,636 | 1,636 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt interest rate per annum | 12.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt principle and accrued interest amount | $ 28,651 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Convertible Note Payable - Related Party [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt principal amount | $ 200,000 | $ 25,000 | $ 215,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt maturity term | 36 months | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt due date | Oct. 22, 2015 | Sep. 30, 2016 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | 8,822 | 28,932 | 8,822 | 28,932 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt interest rate per annum | 10.00% | 8.00% | 10.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Note payable to related party | $ 34,011 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt conversion price per share | $ / shares | $ 0.04 | $ 0.15 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt converted into shares of common stock amount | $ 5,963 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt converted into shares of common stock | shares | 266,492 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt extended due date | Apr. 30, 2016 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt unamortized discount | $ 50,000 | $ 25,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Amortization of debt discount | $ 25,937 | 24,063 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Percentage of discount on market value of note payable | 50.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Convertible Note Payable - Related Party [Member] | April 29, 2016 [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt converted into shares of common stock | shares | 5,763,014 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Note Payable - Related Party [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt principal amount | $ 200,000 | $ 50,000 | $ 70,000 | $ 250,000 | $ 200,000 | $ 65,000 | $ 30,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt monthly payment | $ 20,000 | $ 20,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt due date | Oct. 22, 2015 | Apr. 30, 2014 | Apr. 30, 2014 | May 13, 2014 | Apr. 30, 2014 | Aug. 24, 2016 | Apr. 20, 2013 | Feb. 28, 2012 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Note payable | $ 870,457 | $ 105,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | $ 6,247 | 9,510 | 9,510 | $ 20,445 | $ 1,870 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt interest rate per annum | 10.00% | 15.00% | 15.00% | 15.00% | 15.00% | 15.00% | 10.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt principle and accrued interest amount | 20,000 | 20,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt conversion price per share | $ / shares | $ 0.04 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt converted into shares of common stock amount | $ 6,041 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt converted into shares of common stock | shares | 3,108,944 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt extended due date | Sep. 30, 2014 | Mar. 31, 2015 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt unamortized discount | $ 15,176 | $ 21,923 | $ 0 | 38,184 | $ 15,176 | 0 | 38,184 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Amortization of debt discount | 1,639 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Gain on debt forgiveness | 10,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt remaining amount | $ 50,000 | $ 12,500 | 45,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Proceeds from note payable | 50,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Paid note payable principal amount | 37,500 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Note Payable - Related Party One [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt principal amount | $ 25,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt interest rate per annum | 8.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt converted into shares of common stock amount | $ 1,611 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt converted into shares of common stock | shares | 665,274 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt extended due date | Sep. 30, 2013 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt unamortized discount | 21,448 | 21,448 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Amortization of debt discount | 455 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Note Payable - Related Party Two [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt principal amount | 870,457 | $ 60,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt due date | Oct. 22, 2015 | Apr. 30, 2014 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Note payable | $ 870,457 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt interest rate per annum | 10.00% | 15.00% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Proceeds from note payable | $ 210,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Paid note payable principal amount | 105,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Note Payable - Related Party Three [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt principal amount | $ 870,457 | $ 160,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt due date | Oct. 22, 2015 | Jun. 30, 2014 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt interest rate per annum | 10.00% | 15.00% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Note Payable - Related Party Four [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt principal amount | $ 870,457 | 210,000 | $ 105,000 | $ 60,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt due date | Oct. 22, 2015 | Jul. 15, 2014 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | $ 7,568 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt interest rate per annum | 10.00% | 15.00% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt extended due date | Sep. 30, 2014 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Note Payable - Related Party Four [Member] | One Separate Notes [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Proceeds from note payable | $ 105,000 | 17,500 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Note Payable - Related Party Four [Member] | Two Separate Notes [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Proceeds from note payable | $ 210,000 | 42,500 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Note Payable - Related Party Five [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt principal amount | $ 145,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt due date | Jul. 15, 2014 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | 2,384 | 2,384 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt interest rate per annum | 10.00% | 15.00% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt extended due date | Oct. 22, 2015 | Sep. 30, 2014 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Paid note payable principal amount | $ 870,457 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Note Payable - Related Party Six [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt principal amount | $ 75,000 | $ 75,000 | $ 150,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt due date | Sep. 30, 2014 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | 3,329 | 3,329 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt interest rate per annum | 15.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Proceeds from note payable | $ 150,000 | 150,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Note Payable - Related Party Seven [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt principal amount | 210,000 | $ 50,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt due date | Oct. 22, 2015 | Aug. 30, 2014 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | 210,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt interest rate per annum | 10.00% | 15.00% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Proceeds from note payable | $ 870,457 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Paid note payable principal amount | 210,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Note Payable - Related Party Eight [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt principal amount | $ 210,000 | 210,000 | $ 150,000 | $ 25,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt due date | Oct. 22, 2015 | Sep. 30, 2014 | Sep. 3, 2014 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Note payable | $ 63,000 | $ 25,000 | $ 75,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | 210,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt interest rate per annum | 10.00% | 15.00% | 15.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Proceeds from note payable | 123,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Paid note payable principal amount | $ 870,457 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Note Payable - Related Party Nine [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt principal amount | $ 870,457 | 32,500 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt due date | Oct. 22, 2015 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | $ 242 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt interest rate per annum | 10.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt remaining amount | $ 29,500 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Note Payable - Related Party Ten [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt principal amount | $ 870,457 | $ 105,000 | $ 75,000 | $ 17,500 | $ 12,500 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt due date | Oct. 22, 2015 | Oct. 31, 2014 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | $ 2,243 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt interest rate per annum | 10.00% | 15.00% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Paid note payable principal amount | $ 105,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Note Payable - Related Party Eleven [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | $ 49,874 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt converted into shares of common stock amount | $ 646,500 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt converted into shares of common stock | shares | 18,455,666 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Note Payable - Related Party Eleven [Member] | Minimum [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt conversion price per share | $ / shares | $ 0.0325 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Note Payable - Related Party Eleven [Member] | Maximum [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt conversion price per share | $ / shares | $ 0.065 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Note Payable - Related Party Twelve [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt principal amount | 210,000 | $ 210,000 | $ 32,500 | $ 25,000 | $ 50,000 | $ 42,500 | $ 60,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt due date | Oct. 31, 2014 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Note payable | $ 870,457 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | 5,523 | 5,523 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt interest rate per annum | 10.00% | 15.00% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Paid note payable principal amount | 210,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Note Payable - Related Party Thirteen [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt principal amount | $ 100,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt due date | Nov. 28, 2014 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | $ 2,137 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt interest rate per annum | 5.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Note Payable - Related Party Fourteen [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt principal amount | $ 25,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt due date | Oct. 31, 2014 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Note payable | $ 870,457 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | $ 247 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt interest rate per annum | 15.00% | 10.00% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Note Payable - Related Party Fifteen [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt principal amount | $ 870,457 | $ 123,000 | $ 60,000 | $ 63,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt due date | May 31, 2015 | Nov. 30, 2014 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | $ 2,072 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt interest rate per annum | 10.00% | 15.00% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Note Payable - Related Party Sixteen [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt principal amount | $ 870,457 | 175,000 | 175,000 | $ 50,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt due date | May 31, 2015 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Note payable | $ 123,000 | $ 210,000 | $ 105,000 | $ 29,500 | 892,679 | 892,679 | $ 892,679 | $ 25,000 | $ 145,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | 7,957 | 7,957 | $ 22,222 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt interest rate per annum | 10.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt principle and accrued interest amount | 111,768 | 21,413 | 111,768 | 21,413 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Note Payable - Related Party Seventeen [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt principal amount | $ 20,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt due date | Dec. 31, 2014 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Note payable | $ 14,217 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt interest rate per annum | 12.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Note Payable - Related Party Eighteen [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt principal amount | $ 135,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | 14,947 | 1,313 | 14,947 | 1,313 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt interest rate per annum | 10.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Long Term Note Payable [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Line of credit | $ 39,050 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt interest rate per annum | 8.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Note payable to related party | 17,503 | 21,707 | 17,503 | 21,707 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Long Term Note Payable One [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt principal amount | 32,100 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Note payable | $ 35,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Long Term Note Payable Two [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt principal amount | 32,100 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Note payable | $ 35,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Long Term Note Payable [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt principal amount | $ 64,200 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt due date | Apr. 1, 2020 | Jan. 10, 2013 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Note payable | $ 70,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt interest rate per annum | 9.00% | 9.00% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Long Term Note Payable [Member] | Anthony A. Maher [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt principal amount | $ 25,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt due date | Apr. 18, 2017 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Note payable | 21,092 | 21,092 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | 903 | 903 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt interest rate per annum | 7.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Long Term Note Payable [Member] | Debt Instrument, Redemption, Period One [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt monthly payment | $ 1,033 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt due date | Apr. 1, 2020 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Long Term Note Payable [Member] | During FY 2016 [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt principal amount | 42,204 | 42,204 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Note payable | 7,171 | 7,171 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | 4,193 | 4,193 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Convertible Note Payable - Non-Related Party [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt principal amount | 90,696 | 90,696 | $ 40,000 | $ 215,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | $ 9,119 | $ 23,711 | 9,119 | $ 23,711 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt conversion price per share | $ / shares | $ 0.15 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Convertible Note Payable - Non-Related Party [Member] | Three Non-Related Party [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt principal amount | $ 102,033 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | 17,894 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt converted into shares of common stock amount | $ 799,514 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Convertible Note Payable - Non-Related Party [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | $ 900 | $ 5,000 | $ 5,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt interest rate per annum | 8.00% | 8.00% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Note payable to related party | $ 5,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt conversion price per share | $ / shares | $ 0.20 | $ 0.20 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Convertible Note Payable - Non-Related Party [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt principal amount | $ 45,000 | $ 20,000 | $ 65,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt due date | Aug. 24, 2016 | Apr. 20, 2013 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | $ 6,041 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt interest rate per annum | 15.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Note payable to related party | $ 50,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt conversion price per share | $ / shares | $ 0.0325 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt converted into shares of common stock | shares | 3,108,944 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt unamortized discount | 1,639 | $ 21,923 | 1,639 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Amortization of debt discount | 15,176 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Convertible promissory note | $ 95,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Convertible Note Payable - Non-Related Party [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt principal amount | $ 50,000 | $ 100,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt monthly payment | 15,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt due date | May 30, 2012 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Note payable | 35,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | $ 11,959 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt interest rate per annum | 10.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt conversion price per share | $ / shares | $ 0.05 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt converted into shares of common stock amount | $ 50,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt converted into shares of common stock | shares | 1,239,178 | 1,028,770 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Convertible Note Payable - Non-Related Party [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt principal amount | $ 45,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | $ 1,105 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Note payable to related party | $ 11,722 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt conversion price per share | $ / shares | $ 0.04 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt converted into shares of common stock | shares | 1,152,617 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt unamortized discount | 1,471 | 1,471 | $ 18,255 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Amortization of debt discount | 10,251 | 5,300 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Convertible Note Payable - Non-Related Party [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | $ 1,385 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt interest rate per annum | 8.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt conversion price per share | $ / shares | $ 0.065 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt converted into shares of common stock | shares | 352,084 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt unamortized discount | 740 | 740 | 9,285 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Amortization of debt discount | 3,953 | 4,592 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Convertible promissory note | $ 21,500 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Convertible Note Payable - Non-Related Party [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | $ 1,611 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt interest rate per annum | 8.00% | 8.00% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt converted into shares of common stock | shares | 665,274 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt unamortized discount | 455 | $ 25,000 | 455 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Amortization of debt discount | 21,448 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Convertible promissory note | $ 25,000 | $ 25,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Percentage of discount on market value of note payable | 50.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Convertible Note Payable - Non-Related Party [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | $ 9,666 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt conversion price per share | $ / shares | $ 0.04 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt converted into shares of common stock amount | 131,421 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt converted into shares of common stock | shares | 3,991,644 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt unamortized discount | 2,728 | 2,728 | $ 150,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Amortization of debt discount | 128,693 | 18,579 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Convertible promissory note | $ 150,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Percentage of discount on market value of note payable | 50.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Convertible Note Payable - Non-Related Party [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | $ 18,107 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt interest rate per annum | 10.00% | 8.00% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Note payable to related party | 133,714 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt conversion price per share | $ / shares | $ 0.035 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt converted into shares of common stock | shares | 7,945,925 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt unamortized discount | 12,251 | $ 12,251 | $ 156,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Amortization of debt discount | $ 121,463 | $ 22,286 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Convertible promissory note | $ 260,000 |
Notes Payable - Schedule of Not
Notes Payable - Schedule of Notes Payable (Details) - USD ($) | Mar. 31, 2016 | Mar. 31, 2015 |
Total Notes Payable | $ 2,189,052 | $ 1,938,526 |
Note Payable [Member] | ||
Total Notes Payable | 149,878 | 18,117 |
Note Payable, Convertible, Related Party [Member] | ||
Total Notes Payable | 200,000 | 175,937 |
Note Payable - Related Party [Member] | ||
Total Notes Payable | 1,667,679 | 1,438,870 |
Long Term Convertible Note [Member] | ||
Total Notes Payable | 90,696 | 202,729 |
Note Payable, Related Party, Long Term [Member] | ||
Total Notes Payable | 59,707 | 81,165 |
Line of Credit [Member] | ||
Total Notes Payable | $ 21,092 | $ 21,708 |
Notes Payable - Schedule of N56
Notes Payable - Schedule of Notes Payable (Details) (Parenthetical) - USD ($) | Mar. 31, 2016 | Mar. 31, 2015 | Sep. 30, 2014 | May 24, 2013 |
Debt unamortized discount | $ 0 | $ 0 | ||
Note Payable, Convertible, Related Party [Member] | ||||
Debt unamortized discount | 0 | 24,063 | ||
Note Payable - Related Party [Member] | ||||
Debt unamortized discount | 0 | 38,184 | $ 15,176 | $ 21,923 |
Long Term Convertible Note [Member] | ||||
Debt unamortized discount | $ 0 | $ 0 |
Notes Payable - Summary of Note
Notes Payable - Summary of Notes Payable Outstanding Including Interest Rate and Due Date (Details) - USD ($) | 12 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Interest accrued | $ 222,409 | $ 68,963 |
Principal Balance | 2,189,052 | $ 1,938,526 |
Note Payable One [Member] | ||
Original Principal Balance | $ 84,000 | |
Origination Date | Feb. 12, 2016 | |
Original Due Date | Dec. 1, 2016 | |
Amended Due Date | Dec. 1, 2016 | |
Interest Rate | 0.00% | |
Principal | $ 84,000 | |
Interest accrued | ||
Principal Balance | ||
Note Payable Two [Member] | ||
Original Principal Balance | $ 24,547 | |
Origination Date | Feb. 16, 2012 | |
Original Due Date | Dec. 1, 2016 | |
Amended Due Date | Dec. 1, 2016 | |
Interest Rate | 0.00% | |
Principal | $ 24,547 | |
Interest accrued | ||
Principal Balance | ||
Note Payable Three [Member] | ||
Original Principal Balance | $ 20,000 | |
Origination Date | May 1, 2014 | |
Original Due Date | Apr. 11, 2017 | |
Amended Due Date | Apr. 11, 2017 | |
Interest Rate | 12.00% | |
Principal | $ 9,982 | |
Interest accrued | $ 2,288 | |
Principal Balance | ||
Note Payable Four [Member] | ||
Original Principal Balance | $ 60,000 | |
Origination Date | Apr. 11, 2014 | |
Original Due Date | Mar. 11, 2017 | |
Amended Due Date | Mar. 11, 2017 | |
Interest Rate | 12.00% | |
Principal | $ 31,349 | |
Interest accrued | 1,636 | |
Principal Balance | 149,878 | $ 18,117 |
Note Payable Related Party Convertible [Member] | ||
Original Principal Balance | $ 200,000 | |
Origination Date | Feb. 1, 2014 | |
Original Due Date | Oct. 22, 2015 | |
Amended Due Date | Apr. 30, 2015 | |
Interest Rate | 10.00% | |
Principal | $ 200,000 | |
Interest accrued | 28,932 | |
Principal Balance | 200,000 | $ 175,937 |
Note Payable - Related Party One [Member] | ||
Original Principal Balance | $ 870,457 | |
Origination Date | Oct. 21, 2014 | |
Original Due Date | May 31, 2015 | |
Amended Due Date | Apr. 30, 2016 | |
Interest Rate | 10.00% | |
Principal | $ 892,679 | |
Interest accrued | $ 111,768 | |
Principal Balance | ||
Note Payable - Related Party Two [Member] | ||
Original Principal Balance | $ 400,000 | |
Origination Date | Jan. 16, 2015 | |
Original Due Date | Jun. 30, 2015 | |
Amended Due Date | Apr. 30, 2016 | |
Interest Rate | 10.00% | |
Principal | $ 400,000 | |
Interest accrued | $ 30,247 | |
Principal Balance | ||
Note Payable - Related Party Three [Member] | ||
Original Principal Balance | $ 135,000 | |
Origination Date | Mar. 5, 2015 | |
Original Due Date | Jun. 30, 2015 | |
Amended Due Date | Apr. 30, 2016 | |
Interest Rate | 10.00% | |
Principal | $ 135,000 | |
Interest accrued | $ 14,947 | |
Principal Balance | ||
Note Payable - Related Party Four [Member] | ||
Original Principal Balance | $ 135,000 | |
Origination Date | Apr. 20, 2015 | |
Original Due Date | Jun. 30, 2015 | |
Amended Due Date | Apr. 30, 2016 | |
Interest Rate | 10.00% | |
Principal | $ 40,000 | |
Interest accrued | $ 8,045 | |
Principal Balance | ||
Note Payable - Related Party Five [Member] | ||
Original Principal Balance | $ 100,000 | |
Origination Date | Feb. 6, 2016 | |
Original Due Date | Feb. 29, 2016 | |
Amended Due Date | Apr. 30, 2016 | |
Interest Rate | 10.00% | |
Principal | $ 100,000 | |
Interest accrued | $ 1,452 | |
Principal Balance | ||
Note Payable - Related Party Six [Member] | ||
Original Principal Balance | $ 100,000 | |
Origination Date | Mar. 16, 2016 | |
Original Due Date | Apr. 30, 2016 | |
Amended Due Date | Apr. 30, 2016 | |
Interest Rate | 10.00% | |
Principal | $ 100,000 | |
Interest accrued | 384 | |
Principal Balance | 1,667,679 | $ 1,438,870 |
Note Payable Convertible One [Member] | ||
Original Principal Balance | $ 30,000 | |
Origination Date | Mar. 31, 2011 | |
Original Due Date | Jun. 29, 2011 | |
Amended Due Date | Apr. 30, 2017 | |
Interest Rate | 10.00% | |
Principal | $ 34,011 | |
Interest accrued | $ 8,517 | |
Principal Balance | 34,011 | |
Note Payable Convertible Two [Member] | ||
Original Principal Balance | $ 50,000 | |
Origination Date | Mar. 31, 2011 | |
Original Due Date | Jun. 29, 2011 | |
Amended Due Date | Apr. 30, 2017 | |
Interest Rate | 10.00% | |
Principal | $ 56,685 | |
Interest accrued | 14,195 | |
Principal Balance | 90,696 | $ 202,729 |
Note Payable Related Party Long-Term One [Member] | ||
Original Principal Balance | $ 70,000 | |
Origination Date | Jan. 10, 2012 | |
Original Due Date | Jan. 10, 2013 | |
Amended Due Date | Apr. 1, 2020 | |
Interest Rate | 9.00% | |
Principal | $ 42,204 | |
Interest accrued | ||
Principal Balance | ||
Note Payable Related Party Long-Term Two [Member] | ||
Original Principal Balance | $ 39,050 | |
Origination Date | Sep. 13, 2011 | |
Interest Rate | 8.75% | |
Principal | $ 17,503 | |
Interest accrued | ||
Principal Balance | $ 59,707 | $ 81,165 |
Note Payable Related Party Long-Term Three [Member] | ||
Original Principal Balance | $ 25,000 | |
Origination Date | Apr. 18, 2012 | |
Original Due Date | Apr. 18, 2017 | |
Amended Due Date | Apr. 18, 2017 | |
Interest Rate | 7.50% | |
Principal | $ 21,092 | |
Interest accrued | ||
Principal Balance | $ 21,092 | $ 21,708 |
Commitments and Contingencies58
Commitments and Contingencies (Details Narrative) | Mar. 15, 2016USD ($)ft² | Feb. 01, 2015USD ($)ft² | May 31, 2015USD ($)ft² | Dec. 31, 2014USD ($) | Jan. 31, 2014USD ($)shares | Mar. 31, 2016USD ($)ft² | Jun. 30, 2015USD ($)ft² | Mar. 31, 2015USD ($) | Mar. 31, 2016USD ($)ft² | Mar. 31, 2015USD ($) | Apr. 15, 2015ft² | Dec. 31, 2013ft² |
Area of property leased | ft² | 3,609 | 15 | 5,412 | |||||||||
Lease expired date | May 31, 2017 | Jan. 31, 2016 | ||||||||||
Rent expense | $ 4,511 | $ 4,647 | $ 6,765 | |||||||||
Anthony Maher [Member] | ||||||||||||
Shares of the common stock that will be issued | shares | 400,000 | |||||||||||
Amount paid to related party | $ 50,000 | |||||||||||
Litigation insurance settlement | 10,000 | |||||||||||
Mediation fees, to avoid expense | $ 2,650 | |||||||||||
Corporate Offices [Member] | ||||||||||||
Rent expense | $ 13,444 | $ 14,185 | $ 54,135 | $ 77,869 | ||||||||
Warehouse [Member] | ||||||||||||
Area of property leased | ft² | 10,000 | 2,880 | 2,880 | 1,400 | ||||||||
Lease expired date | Apr. 30, 2016 | Jun. 30, 2012 | ||||||||||
Rent expense | $ 6,300 | $ 6,630 | $ 4,170 | $ 25,130 | $ 16,225 | |||||||
Lease extended term | 24 months | |||||||||||
Lease extended new expiration date | Oct. 31, 2015 | |||||||||||
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% |
Commitments and Contingencies -
Commitments and Contingencies - Schedule of Future Lease Payments (Details) | Mar. 31, 2016USD ($) |
Commitments and Contingencies Disclosure [Abstract] | |
2,017 | $ 136,353 |
2,018 | $ 12,150 |
2,019 | |
2,020 | |
2,021 | |
Total | $ 148,503 |
Accrued Expenses - Schedule of
Accrued Expenses - Schedule of Accrued Expenses (Details) - USD ($) | Mar. 31, 2016 | Mar. 31, 2015 |
Accounts Payable and Accrued Liabilities, Fair Value Disclosure [Abstract] | ||
Interest payable | $ 222,409 | $ 68,963 |
Sales tax payable | 334 | 634 |
Credit card debt | $ 77,243 | 31,685 |
Other | 1,654 | |
Total accrued expenses | $ 299,986 | $ 102,936 |
Dilutive Instruments (Details N
Dilutive Instruments (Details Narrative) - USD ($) | Feb. 16, 2016 | Nov. 18, 2015 | Jul. 30, 2015 | Jan. 22, 2015 | Feb. 02, 2014 | Jan. 02, 2014 | Sep. 12, 2013 | Jan. 17, 2013 | May 15, 2012 | Mar. 31, 2016 | Mar. 31, 2015 | Mar. 31, 2014 |
Options exercised | 9,907,210 | 9,722,210 | 9,722,210 | |||||||||
Total Notes Payable | $ 2,189,052 | $ 1,938,526 | ||||||||||
Number of restricted stock issued. value | $ 88,968 | $ 25,086 | ||||||||||
Warrant [Member] | ||||||||||||
Options exercised | 120,000 | |||||||||||
Number of option issued | 0 | |||||||||||
Number of option cancelled | 385,000 | |||||||||||
Amortization amount | $ 28,533 | |||||||||||
Incentive Options To Three Employees [Member] | ||||||||||||
Number of option issued | 40,000 | |||||||||||
Expected volatility rate | 259.07% | |||||||||||
Risk free interest rate, minimum | 0.26% | |||||||||||
Risk free interest rate, maximum | 0.76% | |||||||||||
Options vesting period | 3 years | |||||||||||
Share-based compensation arrangement by share-based payment award, options value | $ 15,026 | |||||||||||
Options expense | 4,970 | $ 5,284 | ||||||||||
Incentive Options To Three Employees [Member] | Minimum [Member] | ||||||||||||
Weighted-average exercise price per share, granted | $ 0.05 | |||||||||||
Incentive Options To Three Employees [Member] | Maximum [Member] | ||||||||||||
Weighted-average exercise price per share, granted | $ 0.06 | |||||||||||
Incentive Options To One Employee [Member] | ||||||||||||
Number of option issued | 40,000 | |||||||||||
Expected volatility rate | 258.20% | |||||||||||
Risk free interest rate, minimum | 0.41% | |||||||||||
Risk free interest rate, maximum | 0.64% | |||||||||||
Options vesting period | 3 years | |||||||||||
Share-based compensation arrangement by share-based payment award, options value | $ 5,908 | |||||||||||
Incentive Options To One Employee [Member] | Minimum [Member] | ||||||||||||
Weighted-average exercise price per share, granted | $ 0.05 | |||||||||||
Options expense | 1,373 | 1,964 | ||||||||||
Incentive Options To One Employee [Member] | Maximum [Member] | ||||||||||||
Weighted-average exercise price per share, granted | $ 0.06 | |||||||||||
Incentive Stock Options To Officer [Member] | ||||||||||||
Number of option issued | 850,000 | |||||||||||
Number of option cancelled | 375,000 | |||||||||||
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 | $ 0.06 | |||||||||||
Options expense | 2,161 | 9,914 | ||||||||||
Risk free interest rate | 0.38% | |||||||||||
Stock Options To Officer [Member] | ||||||||||||
Number of option issued | 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 | $ 0.09 | |||||||||||
Options expense | 5,392 | 0 | ||||||||||
Risk free interest rate | 0.80% | |||||||||||
IncentiveStock Options To Three Employees One [Member] | ||||||||||||
Number of option issued | 850,000 | |||||||||||
Expected volatility rate | 218.68% | |||||||||||
Share-based compensation arrangement by share-based payment award, options value | $ 24,154 | |||||||||||
Weighted-average exercise price per share, granted | $ 0.04 | |||||||||||
Options expense | $ 1,373 | $ 0 | ||||||||||
Risk free interest rate | 29.00% | |||||||||||
Stock Options [Member] | ||||||||||||
Options exercised | 65,000 | |||||||||||
Number of option issued | 1,050,000 | 0 | ||||||||||
Number of option cancelled | (45,993) | 750,150 | ||||||||||
Number of options were erroneusly expired during peirod | 375,000 | |||||||||||
Incentive stcok options were adjusted back onto company option ledger during period | 375,000 | 329,007 | ||||||||||
Stock Options [Member] | CEO [Member] | ||||||||||||
Options exercised | 25,000 | |||||||||||
Number of cashless option into shares of restriced common stock | 19,000 | |||||||||||
Weighted-average exercise price per share, granted | $ 0.25 | |||||||||||
Price per share discounted from market value | $ 0.06 | |||||||||||
Number of shares exercise resulted in reduction of common stock | 6,000 | |||||||||||
Warrant [Member] | ||||||||||||
Number of option issued | 2,000,000 | |||||||||||
Number of option cancelled | 605,000 | |||||||||||
Expected volatility rate | 180.00% | |||||||||||
Issuance of warrants to purchase of stock | 2,000,000 | 30,000 | 100,000 | |||||||||
Warrant price | $ 0.07 | |||||||||||
Proceeds from issuance of warrants | $ 1,581 | $ 63,000 | ||||||||||
Number of warrants exercised | 0.04 | |||||||||||
Warrants expiration date | Mar. 17, 2015 | |||||||||||
Total Notes Payable | $ 400,000 | 200,000 | ||||||||||
Fair value of warrants | $ 66,717 | $ 7,977 | ||||||||||
Number of restricted stock issued | 120,000 | |||||||||||
Number of restricted stock issued. value | $ 8,400 | |||||||||||
Warrant [Member] | Minimum [Member] | ||||||||||||
Warrant price | $ 0.10 | |||||||||||
Warrant [Member] | Maximum [Member] | ||||||||||||
Number of warrants exercised | 0.20 |
Dilutive Instruments - Schedule
Dilutive Instruments - Schedule of Stock-Based Payment Awards (Details) - shares | 12 Months Ended | ||
Mar. 31, 2016 | Mar. 31, 2015 | Mar. 31, 2014 | |
Stock Options and Warrants, Issued | 30,906,655 | 29,856,655 | 27,856,655 |
Stock Options and Warrants, Cancelled | 16,483,457 | 16,144,450 | 14,789,300 |
Stock Options and Warrants, Exercised | 9,907,210 | 9,722,210 | 9,722,210 |
Stock Options and Warrants, Total Issued and Outstanding | 4,515,988 | 3,989,995 | 3,345,145 |
Stock Options and Warrants, Exercisable | 3,465,988 | 3,634,995 | 2,320,145 |
Stock Options and Warrants, Not Vested | 1,050,000 | 355,000 | 1,025,000 |
Warrant [Member] | |||
Stock Options and Warrants, Issued | 2,000,000 | ||
Stock Options and Warrants, Cancelled | 385,000 | 605,000 | |
Stock Options and Warrants, Exercised | 120,000 | ||
Stock Options and Warrants, Total Issued and Outstanding | (505,000) | 1,395,000 | |
Stock Options and Warrants, Exercisable | (505,000) | 1,395,000 | |
Stock Options and Warrants, Not Vested | |||
Common Stock Options [Member] | |||
Stock Options and Warrants, Issued | 1,050,000 | ||
Stock Options and Warrants, Cancelled | (45,993) | 750,150 | |
Stock Options and Warrants, Exercised | 65,000 | ||
Stock Options and Warrants, Total Issued and Outstanding | 1,030,993 | (750,150) | |
Stock Options and Warrants, Exercisable | 335,993 | (80,150) | |
Stock Options and Warrants, Not Vested | 695,000 | (670,000) |
Related Party Transactions (Det
Related Party Transactions (Details Narrative) - USD ($) | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2016 | Mar. 31, 2015 | |
Issued shares of conversion of promissory notes, value | $ 159,901 | $ 696,374 | |
Employees [Member] | |||
Number of shraes issued during period to employees | 377,000 | 170,000 | |
Issued shares value | $ 17,500 | $ 81,600 | |
Employees [Member] | Minimum [Member] | |||
Per shraes value | $ 0.04 | $ 0.04 | $ 0.04 |
Employees [Member] | Maximum [Member] | |||
Per shraes value | 0.10 | $ 0.10 | $ 0.52 |
Private Investor, Former Officer, And Members of Board of Directors [Member] | |||
Number of shares issued for conversion of promissory notes | 1,066,006 | 18,455,666 | |
Price per share | 0.15 | $ 0.15 | |
Issued shares of conversion of promissory notes, value | $ 159,901 | $ 696,374 | |
Private Investor, Former Officer, And Members of Board of Directors [Member] | Minimum [Member] | |||
Price per share | $ 0.03 | ||
Private Investor, Former Officer, And Members of Board of Directors [Member] | Maximum [Member] | |||
Price per share | $ 0.06 | ||
Employees [Member] | |||
Number of shraes issued during period to employees | 27,000 | 40,000 | |
Per shraes value | $ 0.05 | ||
Issued shares value | $ 2,000 | ||
Employees [Member] | Minimum [Member] | |||
Per shraes value | 0.05 | $ 0.05 | |
Employees [Member] | Maximum [Member] | |||
Per shraes value | $ 0.06 | $ 0.06 | |
Previous Employment Contract [Member] | |||
Per shraes value | $ 0.06 | ||
Number of shares issued during peirod compensation | 400,000 | ||
Issued shares value | $ 22,000 | ||
Employees [Member] | |||
Number of shraes issued during period to employees | 40,000 | ||
Per shraes value | $ .04 | ||
Issued shares value | $ 1,600 | ||
Employees [Member] | |||
Number of shraes issued during period to employees | 10,000 | ||
Per shraes value | $ 0.04 | ||
Issued shares value | $ 400 | ||
Restricted Stock Units (RSUs) [Member] | |||
Converted restricted stock units | 692,300 | 489,286 | |
Number of shares issued to common stock for non management directors | 692,300 | 692,300 | 489,286 |
Accounts Receivable (Details Na
Accounts Receivable (Details Narrative) - USD ($) | Mar. 31, 2016 | Mar. 31, 2015 |
Accounts Receivable Details Narrative | ||
Bad debt allowance | $ 2,096 | $ 3,184 |
Other Assets (Details Narrative
Other Assets (Details Narrative) | 12 Months Ended | |||||
Mar. 31, 2016USD ($) | Mar. 31, 2015USD ($) | Mar. 31, 2014USD ($) | Mar. 31, 2012USD ($) | Mar. 31, 2009USD ($)Units | Mar. 31, 2013USD ($) | |
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract] | ||||||
Mold Cost | $ | $ 10,229 | $ 28,426 | $ 7,088 | |||
Total estimated mold units | Units | 10,000 | |||||
Amortized mold units | Units | 2,805 | |||||
Amortization charges of mold | $ | $ 10,229 | $ 4,439 | $ 4,439 | $ 4,592 |
Acquisition (Details Narrative)
Acquisition (Details Narrative) | 12 Months Ended |
Mar. 31, 2016USD ($) | |
Business Combinations [Abstract] | |
Payment to acquire business | $ 108,547 |
Acquisition - Estimated Fair Va
Acquisition - Estimated Fair Value of Purchase Price Allocation (Details) - USD ($) | Mar. 31, 2016 | Mar. 31, 2015 |
Business Combinations [Abstract] | ||
Machinery & Equipment | $ 5,685 | |
Contracts | 92,265 | |
Trade-name and brand | 9,328 | |
Goodwill | 1,270 | |
Total acquisition cost allocated | $ 108,547 |
Acquisition - Schedule of Purch
Acquisition - Schedule of Purchase Price (Details) | 12 Months Ended |
Mar. 31, 2016USD ($) | |
Business Combinations [Abstract] | |
Unsecured 9 month promissory notes | $ 108,547 |
Acquisition - Schedule of Intan
Acquisition - Schedule of Intangible Assets Useful Lives (Details) | 12 Months Ended |
Mar. 31, 2016 | |
Machinery & Equipment [Member] | |
Useful Lives (Years) | 1 year |
Contracts [Member] | |
Useful Lives (Years) | 1 year |
Trade Name [Member] | |
Useful Lives (Years) | 1 year |
Other Income - Schedule of Othe
Other Income - Schedule of Other Income (Details) - USD ($) | 12 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
OTHER INCOME AND (EXPENSES) | ||
Interest Income | $ 3,057 | |
Gain on Bad Debt Collection | 2,996 | |
Gain on Cancellation of Debt | 4,414 | |
Other | 1,868 | |
Total Other Income | $ 12,335 |
Subsequent Events (Details Narr
Subsequent Events (Details Narrative) | Jun. 08, 2016USD ($) | May 11, 2016USD ($)$ / shares | Apr. 29, 2016USD ($)$ / sharesshares | Apr. 19, 2016USD ($) | Apr. 11, 2016USD ($) | Apr. 01, 2016USD ($) | Mar. 15, 2016USD ($)ft² | Apr. 20, 2015USD ($) | Feb. 17, 2015USD ($) | Feb. 01, 2015USD ($)ft² | Jan. 16, 2015USD ($) | May 31, 2015USD ($)ft² | Dec. 31, 2014USD ($) | Mar. 31, 2016USD ($) | Mar. 31, 2015USD ($) | Mar. 16, 2016USD ($) | Feb. 06, 2016USD ($) | Dec. 31, 2015USD ($) | Sep. 30, 2015USD ($) | Dec. 31, 2013ft² |
Note payable | $ 30,000 | |||||||||||||||||||
Debt converted into shares of common stock amount | $ 159,901 | 696,374 | ||||||||||||||||||
Rent expense | $ 4,511 | $ 4,647 | $ 6,765 | |||||||||||||||||
Lease expired date | May 31, 2017 | Jan. 31, 2016 | ||||||||||||||||||
Area of property leased | ft² | 3,609 | 15 | 5,412 | |||||||||||||||||
Accrued interest | $ 222,409 | $ 68,963 | ||||||||||||||||||
Subsequent Event [Member] | Office Space [Member] | ||||||||||||||||||||
Lease price per square foot | $ / shares | $ 15.48 | |||||||||||||||||||
Rent expense | $ 4,647 | $ 6,300 | ||||||||||||||||||
Lease term | 12 months | 12 months | ||||||||||||||||||
Lease expired date | May 31, 2017 | |||||||||||||||||||
Area of property leased | ft² | 10,000 | |||||||||||||||||||
Subsequent Event [Member] | Promissory Note [Member] | ||||||||||||||||||||
Debt principal amount | $ 215,000 | |||||||||||||||||||
Debt due date | Apr. 30, 2017 | |||||||||||||||||||
Note payable | $ 90,696 | |||||||||||||||||||
Subsequent Event [Member] | Promissory Note [Member] | Shareholders and Board [Member] | ||||||||||||||||||||
Debt principal amount | $ 40,000 | $ 100,000 | $ 100,000 | $ 100,000 | ||||||||||||||||
Debt interest rate | 10.00% | 10.00% | ||||||||||||||||||
Debt due date | Dec. 31, 2016 | Apr. 30, 2015 | ||||||||||||||||||
Debt extended due date | Jun. 30, 2016 | |||||||||||||||||||
Note payable | $ 340,000 | $ 100,000 | ||||||||||||||||||
Subsequent Event [Member] | Promissory Note [Member] | Todd Hackett [Member] | ||||||||||||||||||||
Debt converted into shares of common stock amount | $ 200,000 | |||||||||||||||||||
Debt conversion price per share | $ / shares | $ 0.04 | |||||||||||||||||||
Debt converted into shares of common stock | shares | 5,763,014 | |||||||||||||||||||
Subsequent Event [Member] | Promissory Note One [Member] | Shareholders and Board [Member] | ||||||||||||||||||||
Debt principal amount | $ 40,000 | $ 100,000 | $ 100,000 | $ 100,000 | ||||||||||||||||
Debt interest rate | 10.00% | 10.00% | ||||||||||||||||||
Debt due date | May 31, 2016 | Dec. 31, 2016 | ||||||||||||||||||
Debt extended due date | Jun. 30, 2016 | |||||||||||||||||||
Note payable | $ 340,000 | |||||||||||||||||||
Subsequent Event [Member] | Promissory Note One [Member] | Todd Hackett [Member] | ||||||||||||||||||||
Debt interest rate | 10.00% | |||||||||||||||||||
Debt converted into shares of common stock amount | $ 200,000 | |||||||||||||||||||
Debt conversion price per share | $ / shares | $ 0.04 | |||||||||||||||||||
Debt converted into shares of common stock | shares | 5,763,014 | |||||||||||||||||||
Accrued interest | $ 30,521 | |||||||||||||||||||
Subsequent Event [Member] | Promissory Note Two [Member] | Shareholders and Board [Member] | ||||||||||||||||||||
Debt principal amount | $ 400,000 | $ 892,679 | ||||||||||||||||||
Debt interest rate | 10.00% | 10.00% | ||||||||||||||||||
Debt due date | Jul. 15, 2018 | Apr. 30, 2015 | ||||||||||||||||||
Debt extended due date | May 31, 2016 | |||||||||||||||||||
Non-convertible note | $ 1,292,679 | |||||||||||||||||||
Subsequent Event [Member] | Non-Convertible Promissory Note [Member] | Shareholders and Board [Member] | ||||||||||||||||||||
Debt principal amount | $ 400,000 | |||||||||||||||||||
Debt interest rate | 10.00% | |||||||||||||||||||
Debt due date | Jun. 30, 2015 | |||||||||||||||||||
Debt extended due date | Jul. 15, 2018 | Apr. 30, 2016 | ||||||||||||||||||
Note payable | $ 1,292,679 | |||||||||||||||||||
Fair value asumption of discount rate | 0.35% | |||||||||||||||||||
Fair value asumption of volatility rate | 180.00% | |||||||||||||||||||
Debt combined amount | $ 892,679 | |||||||||||||||||||
Subsequent Event [Member] | Promissory Note [Member] | Shareholders and Board [Member] | ||||||||||||||||||||
Debt principal amount | $ 40,000 | $ 135,000 | ||||||||||||||||||
Debt interest rate | 10.00% | 10.00% | ||||||||||||||||||
Debt due date | Jan. 15, 2019 | Jun. 30, 2015 | ||||||||||||||||||
Debt extended due date | Apr. 30, 2016 | |||||||||||||||||||
Note payable | $ 175,000 | |||||||||||||||||||
Subsequent Event [Member] | Promissory Note Four [Member] | Shareholders and Board [Member] | ||||||||||||||||||||
Debt principal amount | $ 135,000 | $ 135,000 | ||||||||||||||||||
Debt interest rate | 10.00% | 10.00% | ||||||||||||||||||
Debt due date | Jun. 30, 2015 | Jan. 15, 2019 | ||||||||||||||||||
Debt extended due date | Jan. 31, 2016 | |||||||||||||||||||
Note payable | $ 175,000 | $ 40,000 | ||||||||||||||||||
Debt principal payment | $ 95,000 | |||||||||||||||||||
Subsequent Event [Member] | Promissory Note Five [Member] | Shareholders and Board [Member] | ||||||||||||||||||||
Debt principal amount | $ 100,000 | |||||||||||||||||||
Debt interest rate | 10.00% | |||||||||||||||||||
Debt due date | Apr. 30, 2016 | |||||||||||||||||||
Debt extended due date | Dec. 31, 2016 | Jun. 30, 2016 | ||||||||||||||||||
Note payable | $ 340,000 | |||||||||||||||||||
Subsequent Event [Member] | Promissory Note Six [Member] | Shareholders and Board [Member] | ||||||||||||||||||||
Debt principal amount | $ 40,000 | |||||||||||||||||||
Debt interest rate | 10.00% | |||||||||||||||||||
Debt due date | Dec. 31, 2016 | Apr. 30, 2016 | ||||||||||||||||||
Debt extended due date | Jun. 30, 2016 | |||||||||||||||||||
Note payable | $ 340,000 |
Subsequent Events - Schedule of
Subsequent Events - Schedule of Promissory Notes (Details) - USD ($) | Jun. 08, 2016 | Mar. 31, 2016 | Mar. 31, 2015 |
Interest accrued | $ 222,409 | $ 68,963 | |
Consolidated Note Balance | $ 2,189,052 | $ 1,938,526 | |
Subsequent Event [Member] | Notes Payable One [Member] | Todd Hackett [Member] | |||
Principal | $ 892,679 | ||
Origination Date | 10/21/2014 | ||
Original Due Date | May 31, 2015 | ||
Amended Due Date | 6/30/2016 | ||
Interest Rate | 10.00% | ||
Interest accrued | $ 111,768 | ||
Subsequent Event [Member] | Notes Payable Two [Member] | Todd Hackett [Member] | |||
Principal | $ 400,000 | ||
Origination Date | 1/16/2015 | ||
Original Due Date | Jun. 30, 2015 | ||
Amended Due Date | 6/30/2016 | ||
Consolidated Note Due Date | Jul. 15, 2018 | ||
Interest Rate | 10.00% | ||
Interest accrued | $ 30,247 | ||
Consolidated Note Balance | 1,292,679 | ||
Subsequent Event [Member] | Notes Payable Three [Member] | Todd Hackett [Member] | |||
Principal | $ 135,000 | ||
Origination Date | 2/17/15,3/5/15 | ||
Original Due Date | Jun. 30, 2015 | ||
Amended Due Date | 6/30/2016 | ||
Interest Rate | 10.00% | ||
Interest accrued | $ 14,947 | ||
Subsequent Event [Member] | Notes Payable Four [Member] | Todd Hackett [Member] | |||
Principal | $ 40,000 | ||
Origination Date | 4/20/2015 | ||
Original Due Date | Jun. 30, 2015 | ||
Amended Due Date | 6/30/2016 | ||
Consolidated Note Due Date | Jan. 15, 2019 | ||
Interest Rate | 10.00% | ||
Interest accrued | $ 8,045 | ||
Consolidated Note Balance | 175,000 | ||
Subsequent Event [Member] | Notes Payable Five [Member] | Todd Hackett [Member] | |||
Principal | $ 100,000 | ||
Origination Date | 2/6/2016 | ||
Original Due Date | Feb. 29, 2016 | ||
Amended Due Date | 6/30/2016 | ||
Interest Rate | 10.00% | ||
Interest accrued | $ 1,452 | ||
Subsequent Event [Member] | Notes Payable Six [Member] | Todd Hackett [Member] | |||
Principal | $ 100,000 | ||
Origination Date | 3/16/2016 | ||
Original Due Date | Apr. 30, 2016 | ||
Amended Due Date | 6/30/2016 | ||
Interest Rate | 10.00% | ||
Interest accrued | $ 384 | ||
Subsequent Event [Member] | Notes Payable Seven [Member] | Todd Hackett [Member] | |||
Principal | $ 100,000 | ||
Origination Date | 4/1/2016 | ||
Original Due Date | Apr. 30, 2016 | ||
Amended Due Date | 6/30/2016 | ||
Interest Rate | 10.00% | ||
Subsequent Event [Member] | Notes Payable Eight [Member] | Todd Hackett [Member] | |||
Principal | $ 40,000 | ||
Origination Date | 4/19/2016 | ||
Original Due Date | Apr. 30, 2016 | ||
Amended Due Date | 6/30/2016 | ||
Consolidated Note Due Date | Dec. 31, 2016 | ||
Interest Rate | 10.00% | ||
Consolidated Note Balance | $ 340,000 |