Document_and_Entity_Informatio
Document and Entity Information | 3 Months Ended | |
Jun. 30, 2014 | Jul. 18, 2014 | |
Document and Entity Information [Abstract] | ' | ' |
Document Type | '10-Q | ' |
Amendment Flag | 'false | ' |
Document Period End Date | 30-Jun-14 | ' |
Entity Registrant Name | 'PCS EDVENTURES COM INC | ' |
Entity Central Index Key | '0001122020 | ' |
Current Fiscal Year End Date | '--03-31 | ' |
Document Fiscal Period Focus | 'Q1 | ' |
Document Fiscal Year Focus | '2015 | ' |
Entity Current Reporting Status | 'Yes | ' |
Entity Filer Category | 'Smaller Reporting Company | ' |
Entity Common Stock, Shares Outstanding | ' | 53,370,332 |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Jun. 30, 2014 | Mar. 31, 2014 |
CURRENT ASSETS | ' | ' |
Cash | $106,420 | $27,860 |
Accounts receivable, net of allowance for doubtful accounts of $4,063 and $4,063, respectively | 550,995 | 489,751 |
Prepaid expenses | 52,340 | 68,906 |
Finished goods inventory | 96,939 | 187,386 |
Other Receivable | 3,424 | 3,424 |
Total Current Assets | 810,118 | 777,327 |
FIXED ASSETS, net of accumulated depreciation of $123,039 and $118,005, respectively | 44,450 | 19,462 |
OTHER ASSETS | ' | ' |
Mold Cost | 13,558 | 14,668 |
Deposits | 7,371 | 7,371 |
Total Other Assets | 20,929 | 22,039 |
TOTAL ASSETS | 875,497 | 818,828 |
CURRENT LIABILITIES | ' | ' |
Accounts payable and other current liabilities | 411,106 | 471,426 |
Payroll liabilities payable | 36,744 | 35,973 |
Accrued expenses | 165,122 | 124,753 |
Deferred revenue | 102,688 | 68,467 |
Note payable, convertible, related party net of $0 discount | 50,000 | 50,000 |
Note payable, related party | 928,382 | 707,251 |
Lines of credit payable | 25,071 | 27,089 |
Total Current Liabilities | 1,719,113 | 1,484,959 |
Notes payable, long term | 80,000 | ' |
Notes payable, related party, long term | 23,846 | 23,846 |
Convertible notes payable, long term, net of $3,953 and $4,693 discount as of June 30, 2014 and March 31, 2014, respectively | 237,281 | 236,541 |
Convertible notes payable, long term, related party, net of discount of $297,178 and $315,721, as of June 30, 2014 and March 31, 2014, respectively | 311,833 | 293,436 |
Total Liabilities | 2,372,073 | 2,038,782 |
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, 53,370,332 and 52,970,332 shares issued and outstanding, respectively | 36,948,540 | 36,919,152 |
Stock payable | 52,330 | 31,080 |
Accumulated comprehensive loss | ' | ' |
Accumulated deficit | -38,497,446 | -38,170,186 |
Total Stockholders' Equity Deficit | -1,496,576 | -1,219,954 |
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) | $875,497 | $818,828 |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parenthetical) (USD $) | Jun. 30, 2014 | Mar. 31, 2014 |
Consolidated Balance Sheets [Abstract] | ' | ' |
Accounts receivable, allowance for doubtful accounts | $4,063 | $4,063 |
FIXED ASSETS, accumulated depreciation | 123,039 | 118,005 |
Note payable, convertible, related party, discount | 0 | 0 |
Convertible notes payable, long term, discount | 3,953 | 4,693 |
Convertible notes payable, long term, related party, discount | $297,178 | $315,721 |
Preferred stock, par value per share | ' | ' |
Preferred stock, shares authorized | 20,000,000 | 20,000,000 |
Preferred stock, shares issued | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 |
Common stock, par value per share | ' | ' |
Common stock, shares authorized | 90,000,000 | 90,000,000 |
Common stock, shares issued | 53,370,332 | 52,970,332 |
Common stock, shares outstanding | 53,370,332 | 52,970,332 |
Consolidated_Statements_of_Ope
Consolidated Statements of Operations (USD $) | 3 Months Ended | |
Jun. 30, 2014 | Jun. 30, 2013 | |
REVENUES | ' | ' |
Lab Revenue | $670,364 | $326,182 |
International Revenue | 285,084 | 1,268 |
Learning Center Revenue | 36,439 | 20,844 |
License and Royalty Revenue | 10,679 | 5,493 |
Total Revenues | 1,002,566 | 353,787 |
COST OF SALES | 625,281 | 177,603 |
GROSS PROFIT | 377,285 | 176,184 |
OPERATING EXPENSES | ' | ' |
Salaries and wages | 202,277 | 149,543 |
Depreciation and amortization expense | 5,465 | 4,679 |
General and administrative expenses | 425,023 | 255,070 |
Total Operating Expenses | 632,765 | 409,292 |
OPERATING LOSS | -255,480 | -233,108 |
OTHER INCOME AND (EXPENSES) | ' | ' |
Interest Income | ' | 11 |
Interest expense | -71,780 | -28,774 |
Total Other Income and Expenses | -71,780 | -28,763 |
LOSS FROM CONTINUING OPERATIONS | -327,260 | -261,871 |
LOSS FROM DISCONTINUED OPERATIONS | ' | -16,836 |
NET LOSS | -327,260 | -278,707 |
Foreign currency translation | ' | -4,970 |
NET COMPREHENSIVE LOSS | -327,260 | -283,677 |
NET LOSS ATTRIBUTABLE TO COMMON STOCKHOLDERS | ($328,260) | ($283,677) |
Basic and diluted net income (loss) per common share: | ' | ' |
Basic and diluted loss per share from continuing operations | ($0.01) | ($0.01) |
Basic and diluted loss per share from discontinued operations | $0 | $0 |
Basic and diluted net loss per share | ($0.01) | ($0.01) |
Weighted Average Number of Shares Outstanding, Basic and Diluted | 53,335,167 | 49,293,845 |
Consolidated_Statements_of_Sto
Consolidated Statements of Stockholders' Equity (Deficit) (USD $) | Total | Capital Stock [Member] | Stock Payable [Member] | Accumulated Deficit [Member] |
Balance at Mar. 31, 2014 | ($1,219,954) | $36,919,152 | $31,080 | ($38,170,186) |
Balance, shares at Mar. 31, 2014 | 52,970,332 | 52,970,332 | ' | ' |
Stock for Services | 28,750 | 20,000 | 8,750 | ' |
Stock for Services, shares | ' | 400,000 | ' | ' |
Stock for RSU's | 12,500 | ' | 12,500 | ' |
Stock for RSU's, shares | ' | ' | ' | ' |
Option Expense | 9,388 | 9,388 | ' | ' |
Net Loss | -327,260 | ' | ' | -327,260 |
Balance at Jun. 30, 2014 | ($1,496,576) | $36,948,540 | $52,330 | ($38,497,446) |
Balance, shares at Jun. 30, 2014 | 53,370,332 | 53,370,332 | ' | ' |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (USD $) | 3 Months Ended | |
Jun. 30, 2014 | Jun. 30, 2013 | |
CASH FLOWS FROM OPERATING ACTIVITIES | ' | ' |
Net Loss | ($327,260) | ($278,707) |
Adjustments to reconcile net loss to net cash provided (used) by operating activities: | ' | ' |
Debt discount amortization | 19,285 | 11,866 |
Depreciation and amortization | 6,574 | 4,679 |
Common stock issued for services | 41,250 | 16,535 |
Amortization of fair value of stock options | 9,388 | 13,193 |
Changes in operating assets and liabilities: | ' | ' |
(Increase) decrease in accounts receivable | -61,244 | -30,853 |
(Increase) decrease in prepaid expenses | 16,567 | -8,671 |
(Increase) decrease in inventories | 90,447 | 18,279 |
(Increase) decrease in other current assets | ' | 1,437 |
(Increase) decrease in other assets | ' | 1,110 |
(Decrease) increase in accounts payable and accrued liabilities | -21,132 | -20,183 |
Increase (decrease) in unearned revenue | 34,221 | 13,183 |
Net Cash Provided (Used) by Operating Activities | -191,904 | -258,132 |
CASH FLOWS FROM INVESTING ACTIVITIES | ' | ' |
Cash paid for purchase of fixed assets | -30,573 | ' |
Net Cash Used by Investing Activities | -30,573 | ' |
CASH FLOWS FROM FINANCING ACTIVITIES | ' | ' |
Proceeds from note payable | 80,000 | ' |
Proceeds from note payable - related party | 640,158 | 225,500 |
Principal payments on line of credit | -1,121 | ' |
Principal payments on debt - related party | -418,000 | -221,528 |
Net Cash Used by Financing Activities | 301,037 | -33,472 |
Foreign currency translation | ' | -424 |
Net Increase (Decrease) in Cash | 78,559 | -225,084 |
Cash at Beginning of Period | 27,860 | 247,245 |
Cash at End of Period | 106,419 | 22,161 |
NON-CASH INVESTING & FINANCING ACTIVITIES | ' | ' |
Debt discount | ' | 45,000 |
CASH PAID FOR: | ' | ' |
Interest | 71,780 | 22,647 |
Income Taxes | ' | ' |
ORGANIZATION_AND_DESCRIPTION_O
ORGANIZATION AND DESCRIPTION OF BUSINESS | 3 Months Ended |
Jun. 30, 2014 | |
ORGANIZATION AND DESCRIPTION OF BUSINESS [Abstract] | ' |
ORGANIZATION AND DESCRIPTION OF BUSINESS | ' |
NOTE 1 - ORGANIZATION AND DESCRIPTION OF BUSINESS | |
The consolidated financial statements presented are those of PCS Edventures!.com, Inc., an Idaho corporation ( “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 more on a hands-on module coupled with web-based technology for use in the classroom. | |
On March 27, 2000, PCS changed its name from PCS Education Systems, Inc. to PCS Edventures!.com, Inc. | |
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. as disclosed in the 8-K as filed with the Securities and Exchange Commission (the “SEC”) on December 9, 2005 and amended on February 15, 2006. As a result of the definitive Share Exchange Agreement, 511092 N.B. LTD. became a wholly owned subsidiary of the Company. In December 2005, the name of this subsidiary was formally changed to PCS LabMentors, Ltd. It remains a Canadian corporation. The Company had a memo of understanding with a company for the potential sale of LabMentors in Quarter ending June 30th, 2013. The Company divested the wholly owned subsidiary in August of 2013. | |
In January of 2012, PCS Edventures!.com Inc. committed to a business plan enhancement which included the opening, operating, and licensing of EdventuresLab private learning centers and launched a pilot in the spring of 2012. As of June 30, 2014 two EdventuresLab programs have been opened and are operating in the Idaho Treasure Valley. | |
On January 31, 2013, PCS Edventures!.com, Inc. formed a subsidiary called Premiere Science Inc. incorporated and registered in the State of Idaho. The subsidiary is 100% wholly owned by PCS Edventures!.com,Inc. and was formed to use as an additional sales and marketing tool to gain other business opportunities. There were no operations for the subsidiary during the quarter year ended June 30, 2013. |
UNAUDITED_CONSOLIDATED_FINANCI
UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS | 3 Months Ended |
Jun. 30, 2014 | |
UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS [Abstract] | ' |
UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS | ' |
NOTE 2 - UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS | |
The June 30, 2014, consolidated financial statements presented herein are unaudited, and in the opinion of management, include all adjustments (consisting of only normal recurring accruals) necessary for a fair presentation of financial position, results of operations and cash flows. Such financial statements do not include all of the information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America. This Quarterly Report on Form 10-Q should be read in conjunction with the Annual Report on Form 10-K for PCS Edventures!.com for the fiscal year ended March 31, 2014. The March 31, 2014, consolidated balance sheet is derived from the audited balance sheet included therein. | |
The operating results for the three-month period ended June 30, 2014, are not necessarily indicative of the results that may be expected for the fiscal year ending March 31, 2015. |
GOING_CONCERN
GOING CONCERN | 3 Months Ended |
Jun. 30, 2014 | |
GOING CONCERN [Abstract] | ' |
GOING CONCERN | ' |
NOTE 3 - GOING CONCERN | |
The Company's consolidated 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 Company's 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. Management's plans with respect to alleviating this adverse position are as follows: | |
During the fiscal year ended March 31, 2014, PCS continued its transition to more effective marketing and sales strategies including focused targeting of afterschool markets and building a personal sales force to penetrate the classroom market. PCS doubled its field sales force in Q3 and Q4 and plans to continue this expansion in FY2015. PCS also recognizes that its experience in operating learning centers creates a unique opportunity to supplement the current PCS business model through opening learning centers through licensing arrangements that will facilitate fast growth. This approach combines PCS expertise in experiential learning with its considerable store of intellectual property comprised of learning frameworks, content, proprietary hardware, and software developed over the past two decades while increasing the throughput of our existing direct sales efforts. This marketing approach will incorporate the large body of PCS intellectual property into an afterschool program that families will pay tuition to attend. | |
The business plan proposes the continued promotion and growth of the PCS Edventures Lab to further demonstrate proof of the concept, and PCS opened a second Edventures Lab in Eagle, Idaho in Q1 of FY2015. The premise of the EdventuresLab aspect of the business plan is two-fold: 1) EdventuresLab revenues will be more consistent and predictable for the Company to plan and manage cash and growth; and 2) an established network of EdventuresLabs will serve as highly effective “showrooms” for sales of PCS products and services into neighboring districts. Further, they will build significant community awareness and brand awareness in the communities they are established. Also of note, close partnerships with schools provide an opportunity to test and improve PCS products on a regular basis and the EdventuresLab environment is a highly effective R&D environment for the development of PCS STEM products. | |
Regarding International expansion, PCS signed a license and royalty agreement with Creya Learning of India (CL) in 2011. CL is using PCS content and support services to implement experiential learning curriculums into Indian schools and to build out a network of experiential learning centers in India that function as an integrated K12 STEM program within these schools. PCS, as part of the license agreement, will receive ongoing royalties on the tuition charged to students attending PCS based programs. | |
Product development in Q1 FY2015 has focused on continued improvements and refinements to PCS products and curriculum creating a digital learning management system for delivering content and training, With the launch of a new 3D interactive engineering curriculum, and the creation and launch of all new PCS Robotics related materials we are pursuing an aggressive upgrade strategy with our hardware and software. Executive management continues in its conviction that the K12 educational robotics market represents a significant market opportunity for PCS products and has committed resources to product development, inventory, and sales and marketing to pursue this opportunity. | |
The Q4 FY2014 addition of Britt Ide to the Board of Directors has brought significant expertise in corporate governance and planning, and the fresh perspective of a woman engineer passionate about the need and opportunity for STEM education. In June of FY2015, Andrew J. Scoggin joined the PCS Board of Directors bringing a rich background of executive management, entrepreneurial spirit, and increased attention to financial rigor. During FY2015, PCS plans to expand and strategically recruit new board members who can help the management team focus and execute its business plan. | |
During the quarter ended June 30, 2014, the Company had a strong influx of new sales orders. Revenue for the quarter ending June 30, 2014 was $1,002,566 compared to revenue of $393,259, up approximately 155% compared to the same quarter last fiscal year. Net loss for the three months ended was ($327,260), compared to ($278,707), a 17% increase from the same quarter last year resulting from increased cost of goods, investments in R&D and marketing, with some mitigation by continued effort to keep costs down. Cash flow from operations for the three months ended June 30, 2014 was $(191,905), which partially had to do with order fulfillment delays. | |
While the efforts put in by management and the entire employee team are beginning to be realized, as illustrated by strong increase in revenues this quarter, the ability of the Company to continue as a going concern is dependent upon our 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 consolidated financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern. |
PREPAID_EXPENSES
PREPAID EXPENSES | 3 Months Ended | ||||||||
Jun. 30, 2014 | |||||||||
PREPAID EXPENSES [Abstract] | ' | ||||||||
PREPAID EXPENSES | ' | ||||||||
NOTE 4 – PREPAID EXPENSES | |||||||||
Prepaid expenses for the periods are as follows: | |||||||||
June 30, 2014 | March 31, 2014 | ||||||||
Prepaid insurance | $ | 6,391 | $ | 9,709 | |||||
Prepaid trade show/travel | — | 1,150 | |||||||
Prepaid inventory | 36,150 | 38,452 | |||||||
Prepaid software | 2,865 | 11,457 | |||||||
Prepaid expenses, other | 6934 | 8,138 | |||||||
Total Prepaid Expenses | $ | 52,340 | $ | 68,906 |
FIXED_ASSETS
FIXED ASSETS | 3 Months Ended | ||||||||
Jun. 30, 2014 | |||||||||
FIXED ASSETS [Abstract] | ' | ||||||||
FIXED ASSETS | ' | ||||||||
NOTE 5 - FIXED ASSETS | |||||||||
Assets and depreciation for the periods are as follows: | |||||||||
June 30, 2014 | March 31, 2014 | ||||||||
Computer/office equipment | $ | 40,134 | $ | 10,112 | |||||
Software | 127,355 | 127,355 | |||||||
Accumulated depreciation | (123,039 | ) | (118,005 | ) | |||||
Total Fixed Assets | $ | 44,450 | $ | 19,462 | |||||
Fixed asset depreciation expense for the three months ended June 30, 2014 and 2013 was $5,465 and $4,679, respectively. | |||||||||
ACCRUED_EXPENSES
ACCRUED EXPENSES | 3 Months Ended | ||||||||
Jun. 30, 2014 | |||||||||
ACCRUED EXPENSES [Abstract] | ' | ||||||||
ACCRUED EXPENSES | ' | ||||||||
NOTE 6 - ACCRUED EXPENSES | |||||||||
Accrued expenses for the periods are as follows: | |||||||||
June 30, 2014 | March 31, 2014 | ||||||||
Interest payable | 108,067 | 67,933 | |||||||
Sales tax payable | 5,355 | 3,442 | |||||||
Credit card debt | 51,700 | 43,853 | |||||||
Professional fees: legal, accounting & other | — | 9,525 | |||||||
Total accrued expenses | $ | 165,122 | $ | 124,753 | |||||
NOTES_PAYABLE
NOTES PAYABLE | 3 Months Ended | ||||||||
Jun. 30, 2014 | |||||||||
NOTES PAYABLE [Abstract] | ' | ||||||||
NOTES PAYABLE | ' | ||||||||
NOTE 7 – NOTES PAYABLE | |||||||||
Notes payable consisted of the following: | |||||||||
June 30, 2014 | March 31, 2014 | ||||||||
Short Term Note Payable, Related Party | $ | 928,382 | $ | 707,251 | |||||
Short Term Convertible Note | 50,000 | 50,000 | |||||||
Short Term Convertible Note, Related Party | - | - | |||||||
Line of Credit | 25,071 | 27,089 | |||||||
Long Term Note Payable | 80,000 | ||||||||
Long Term Note Payable, Related Party | 23,846 | 23,846 | |||||||
Long Term Convertible Note, net of $3,953 and $7,333 discount for period ended June 30, 2014 and March 31, 2014, respectively | 237,281 | 236,541 | |||||||
Long Term Convertible Note, Related Party, net of $297,178 and $315,721 discount for period ended June 30, 2014 and March 31, 2014, respectively | 311,833 | 293,436 | |||||||
Total Notes Payable | $ | 1,656,413 | $ | 1,338,163 | |||||
Long Term Note Payable | |||||||||
On May 1, 2014, the company entered into a 36 month note payable of $20,000. The note bears interest at twelve percent (12%) per annum. Total interest accrued as of June 30, 2014 was $401. | |||||||||
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 subsequently extended to July 31, 2012. A second extension was issued on this note, under the same terms and conditions, with a new maturity date of December 31, 2012. The company negotiated a third extension for this promissory note from the lender with a maturity date of March 31, 2013, which was later extended for the fourth time to July 31, 2013. Subsequently, this note was extended from July 31, 2013 to September 30, 2013 under the same terms and conditions. The company negotiated a fourth through ninth extension for this promissory note from the lender with a maturity date of March 31, 2015. Total interest accrued as of June 30, 2014 was $7,258. | |||||||||
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 $1,033.17 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. The company has paid $7,976 in principal leaving a balance of $56,224 at June 30, 2014 | |||||||||
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. Subsequently the note was extended and made part of the $95,000 convertible promissory note issued on May 24, 2013 as describe in the 8-K filed on May 24, 2013, which states that the note is due August 24, 2016. The debt discount was calculated as $21,923. On June 30, 2014 the remaining debt discount on the convertible note was calculated as $15,322; in which $1,639 was amortized in the current quarter This note was subsequently converted on July 21, 2014. | |||||||||
On March 28, 2013, we executed a promissory note with one of our shareholders, for $50,000 at 12% interest per annum, secured by eight of our sales orders to finance inventory purchases. The promissory note was due on or before June 5, 2013. Subsequently the note was extended and made part of the $95,000 convertible promissory note issued on May 24, 2013 as described in the 8-K filed on May 24, 2013, which states that the note is due August 24, 2016. As stated in the preceeding paragraph, on June 30, 2014 the remaining debt discount on the convertible note was calculated as $15,322; in which $1,639 was amortized in the current quarter. This note was subsequently converted on July 21, 2014 This note was subsequently converted on July 21, 2014. | |||||||||
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. The promissory note and all accrued interest are due and payable on May 31, 2013. This note was subsequently extended for 90 days unsecured, due on or before August 31, 2013. | |||||||||
On September 30, 2013, the Company reclassed this note to a long term convertible promissory note with 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, which represents a 50% discount from the market price as of the date of the note. The note is due 36 months from the date of the note on or before September 30, 2016. The debt discount was calculated as $25,000. $3,551 of the discount was amortized to date, leaving and discount balance of $21,449 as of March 31, 2014. Total accrued interest as of June 30, 2014 was $1,496 This note was subsequently converted on July 21, 2014. | |||||||||
On January 22, 2014 the Company entered into a loan transaction with one of our board members in the amount of $200,000. 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 all accrued interest was due and payable on April 30, 2014. This note was subsequently 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. 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 was due and payable on May 13, 2014. This note was subsequently extended to September 30, 2014, to account for the delay in invoice acceptance and payment by Tatweer Company for Educational Services. Total accrued interest as of June 30, 2014 was $14,075. | |||||||||
On February 21, 2014 the Company entered into a loan transaction with one of our board members in the amount of $70,000. 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 is due and payable on April 30, 2014. This note was subsequently paid in full including all accrued interest 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 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 is due and payable on April 30, 2014. $37,500 of this note was subsequently paid by being rolled into the May 16, 2014, short term related party promissory note in the amount of $150,000, payable with interest at 15% per annum, in cash on or before August 30, 2014. Total accrued interest as of June 30, 2014 on the original note was $1,269. The remaining principle balance at June 30, 2014 or $12,500 was subsequently paid off July 21, 2014. | |||||||||
On April 3, 2014, we 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 subsequently extended to September 30, 2014. Total Interest accrued as of June 30, 2014 is $2,170. | |||||||||
On April 15, 2014, we 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. The note was subsequently extended to September 30, 2014. This note was subsequently paid in full thru replacement with: $25,000 note payable executed June 5, 2014; $60,000 note payable executed 6/11/14; $75,000 of the $150,000 note payable executed June 27, 2014. Total Interest accrued as of June 30, 2014 is 4,159. | |||||||||
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. Total interest accrued as of June 30, 2014 was $1,578. | |||||||||
On May 1, 2014 we 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 subsequently extended to September 30, 2014. Total Interest accrued as of June 30, 2014 is 1,504. $17,500 of the principle of this note was subsequently paid off on July 21, 2014. | |||||||||
On May 5, 2014 we 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 subsequently extended to September 30, 2014. Total Interest accrued as of June 30, 2014 is 3,277. | |||||||||
On May 16, 2014 we 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 is due September 30, 2014. There is no conversion feature associated with this promissory note. $75,000 of this note was paid off thru creation of $150,000 note payable executed June 27, 2014. Total Interest accrued as of June 30, 2014 is 2,681. This note was subsequently paid off July 21, 2014. | |||||||||
On May 21, 2014 we 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. Total Interest accrued as of June 30, 2014 is 822. | |||||||||
On June 3, 2014 we 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 September 3, 2014. There is no conversion feature associated with this promissory note. Total Interest accrued as of June 30, 2014 is 277. | |||||||||
On June 27, 2014 we 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. Total Interest accrued as of June 30, 2014 is 185. | |||||||||
Line of Credit | |||||||||
On September 13, 2011, the Company drew down a line of credit at a financial institution in the amount of $39,050. The line of credit bears interest at 17.5% per annum. The Company makes variable monthly payments. As of June 30, 2014, the Company has paid $13,979 in principal leaving a balance of $25,071 payable. | |||||||||
Convertible Note Payable | |||||||||
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. Total accrued interest as of June 30, 2014 was $500. | |||||||||
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. Total accrued interest as of June 30, 2014 was $361 | |||||||||
Convertible Note Payable – Related Party | |||||||||
Effective June 7, 2013, the Company executed an amendment to the promissory note originally issued on August 2012 for $215,000. 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. 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 February 26, 2013, the Company 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. Subsequently the note was extended and made part of the $95,000 convertible promissory note issued on May 24, 2013 as describe in the 8-K filed on May 24, 2013. The $95,000 convertible promissory note is for 36 month, due on or before May 24, 2016 and bears and interest rate of 8% per annum. A total discount of $21,923 was calculated on May 24, 2013, with $5,108 amortized in the current year. Total discount amortization for the quarter ending June 30, 2014 is $1,639. The note is convertible into common stock at a rate of $0.0325 per share. This note was subsequently converted. | |||||||||
On August 1, 2012, the Company issued amendments to the convertible note agreements 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 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 Lender's 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 principle 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. As of June 30, 2014, the ending principle balance was $243,745, including the related party convertible note balance of $34,011 noted below. Interest accrued as of March 31, 2014 for the total set of notes was $17,796 | |||||||||
For the transactions described above in regard to the original $215,000 convertible notes, $34,011 was loaned from a related party and has been separated out as described in the Company's financial statements and accompanying notes at March 31, 2013. Interest expense for the related party convertible note with the ending June 30, 2014 principle balance was $3,087 | |||||||||
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 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 Borrower's 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 $50,000, was converted into 1,028,770 shares of our “restricted” common stock in accordance with the terms of the convertible promissory note. A second extension was issued for the remaining two notes in an aggregate amount of $50,000, under the same terms and conditions, with a new maturity date of October 31, 2012. These two notes were subsequently extended, with no changes to the terms, were due and payable on or before December 31, 2012. The company negotiated a new maturity date with the lender and issued extensions on the two convertible promissory notes with due dates of March 31, 2013, which were subsequently extended to June 30, 2013. The company negotiated a new maturity date with the lender and issued extensions on the two convertible promissory notes extended to June 30, 2014. On June 30, 2014 the principle balance of the notes remains at $35,000 and $15,000 totaling to the $50,000. The total accrued interest as of June 30, 2014 was $11,671 This note was subsequently converted. | |||||||||
On December 3, 2012, the Company entered into a long term convertible promissory note with board member and shareholder in the amount of $45,000. The note is convertible into common stock at a rate of $0.04 per share. The note bears interest at eight (8%) per annum and is due 36 months from the date of the agreement, on or before December 03, 2015. The proceeds from the note were used by the company to pay off the Security Purchase Agreement (tranche 2) issued on June 4, 2012, along with any accrued interest, penalties and administrative costs. The debt discount was calculated as $18,255, of which $1,233 was amortized during the twelve months ended March 31, 2013. The debt discount was calculated as $18,255, of which $5,300 was amortized during the twelve months ended March 31, 2014, leaving the discount balance remaining of $11,722. An additional $1,471 discount was amortized in the quarter ending June 30, 2014. Accrued interest as of June 30, 2014 is $898. This note was subsequently converted. | |||||||||
On January 11, 2013, the Company entered into an 8% Convertible Promissory Note with an “accredited investor,” in the amount of $21,500, convertible into shares of common stock of the Company, at the market price of $0.065. The note is due thirty six months from the date of note. The note is secured by a secondary security interest in all of the Company's intellectual property. The proceeds received by the Company from the sale of this note will be used by the Company for prepaying the Promissory Note dated June 5, 2012 (Tranche 3) issued to Asher Enterprises, Inc., as well as any administrative costs associated with the payment. This final payment completes and pays off all outstanding notes with Asher Enterprises. The Company recognized a discount on the debt issued related to the derivative liabilityThis debt discount was calculated as $9,285, of which $2,640 was amortized during the twelve months ended March 31, 2014. An additional $740 discount was amortized in the quarter ending June 30, 2014. Accrued interest as of June 30, 2014 is $1,286. This note was subsequently converted. | |||||||||
On September 30, 2013, the Company entered into a long term convertible promissory note with board member and shareholder of an 8% Convertible Promissory Note in the amount of $150,000, convertible into shares of common stock of the Company, at a price of $0.04 per share, which represents a 50% discount from the market price as of the date of the note. The note is due 36 months from the date of the note on or before September 30, 2016. The debt discount was calculated as $150,000, of which $18,579 was amortized during the twelve months ended March 31, 2014, leaving the discount balance remaining of $131,421. An additional $2,728 discount was amortized in the quarter ending June 30, 2014. Accrued interest as of June 30, 2014 is $8,975. This note was subsequently converted. | |||||||||
On September 30, 2013, the Company entered into a Promissory Note in the amount of $260,000 with one of our board members, payable with interest at 10% per annum, in cash on or before November 29, 2013. The Promissory Note funded payables and other corporate purposes of borrower. This note is secured by that certain license agreement and other agreements between borrower and Kindle Education, now Creya Learning. A long-term Convertible Promissory Note was executed on January 8, 2014 that replaces the September 30, 2013, payable with interest at 8% per annum on or before January 8, 2017. The debt discount was calculated as $156,000, of which $22,286 was amortized during the twelve months ended March 31, 2014, leaving the discount balance remaining of $133,714. An additional $1,252 discount was amortized in the quarter ending June 30, 2014. Accrued interest as of June 30, 2014 is $16,911. This note was subsequently converted. |
DERIVATIVE_FINANCIAL_INSTRUMEN
DERIVATIVE FINANCIAL INSTRUMENTS | 3 Months Ended |
Jun. 30, 2014 | |
DERIVATIVE FINANCIAL INSTRUMENTS [Abstract] | ' |
DERIVATIVE FINANCIAL INSTRUMENTS | ' |
NOTE 8 – DERIVATIVE FINANCIAL INSTRUMENTS | |
The Company generally does not use derivative financial instruments to hedge exposures to cash-flow risks or market-risks that may affect the fair values of its financial instruments. The Company utilizes various types of financing to fund our business needs, including convertible debts with conversion features and other instruments not indexed to our stock. The convertible notes include fluctuating conversion rates. The Company uses a lattice model for valuation of the derivative. For derivative financial instruments that are accounted for as liabilities, the derivative instrument is initially recorded at its fair value and then re-valued at each reporting date, with changes in the fair value reported in income in accordance with ASC 815. The classification of derivative instruments, including whether such instruments should be recorded as liabilities or as equity, is reassessed at the end of each reporting period. Derivative instrument liabilities are classified in the balance sheet as current or non-current based on whether net cash settlement of the derivative instrument could be required within the 12 months of the balance sheet date. | |
The Company, in prior year ended March 31, 2013, issued convertible notes payable that provide for the issuance of convertible notes with variable conversion provisions. The conversion terms of the convertible notes are variable based on certain factors, such as the future price of the Company's common stock. The number of shares of common stock to be issued is based on the future price of the Company's common stock. Due to the fact that the number of shares of common stock issuable is not able to be determined definitively, the equity environment is tainted and all additional convertible debentures and warrants are included in the value of the derivative. Pursuant to ASC 815-15 Derivatives, the fair values of the variable conversion option and warrants and shares to be issued were recorded as derivative liabilities on the issuance date. The fair values of the Company's derivative liabilities were estimated at the issuance date and are revalued at each subsequent reporting date, using a lattice model. The company eliminated derivatives as of March 31, 2013. |
FAIR_VALUE_OF_FINANCIAL_INSTRU
FAIR VALUE OF FINANCIAL INSTRUMENTS | 3 Months Ended | ||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||
FAIR VALUE OF FINANCIAL INSTRUMENTS [Abstract] | ' | ||||||||||||||||
FAIR VALUE OF FINANCIAL INSTRUMENTS | ' | ||||||||||||||||
NOTE 9 – 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 Company's 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 recurring basis in the balance sheets as of June 30, 2014: | |||||||||||||||||
Fair Value Measurements at June 30, 2014 | |||||||||||||||||
Liabilities | Level 1 | Level 2 | Level 3 | Gain/(loss) | |||||||||||||
Derivative Liabilities | $ | — | $ | — | — | — | |||||||||||
$ | — | $ | — | — | — |
DISCONTINUED_OPERATIONS
DISCONTINUED OPERATIONS | 3 Months Ended |
Jun. 30, 2014 | |
DISCONTINUED OPERATIONS [Abstract] | ' |
DISCONTINUED OPERATIONS | ' |
NOTE 10 – DISCONTINUED OPERATIONS | |
On July 31, 2013, the Company signed a Memorandum of Understanding with a Canadian company owned by Joseph Khoury (“JAK”) for the desire to execute a purchase agreement in which JAK shall purchase LabMentors from PCS for USD $150,000. JAK has agreed to assume 100% of LabMentors outstanding liabilities and to pay the remainder of the USD $150,000 through a note payable. The note shall carry an annual interest rate of 3% compounded annually and be paid over a period of 60 months in equal monthly payments beginning in month 13 of the 60 month period. The subsidiary, Labmentors, was sold to Joseph Khoury (“JAK”) for the value of approximately $100,000 of Labmentors outstanding liabilities and a note receivable for $50,740, on August 31, 2013. The results of discontinued operations is a net loss of $0 and ($16,836) for the quarter ended June 30, 2014 and 2013. |
COMMITMENTS_AND_CONTINGENCIES
COMMITMENTS AND CONTINGENCIES | 3 Months Ended |
Jun. 30, 2014 | |
COMMITMENTS AND CONTINGENCIES [Abstract] | ' |
COMMITMENTS AND CONTINGENCIES | ' |
NOTE 11 - COMMITMENTS AND CONTINGENCIES | |
a. Operating Lease Obligation | |
The Company leases its main office under a non-cancelable lease agreement accounted for as an operating lease. The lease expired in May 2012. This lease was extended for 13 months beginning June 1, 2012. Rent expense for the corporate offices was $21,196 and 26,041 for the quarter ended March 31, 2014 and 2013, and $99,318 and $107,717 for the twelve months ended March 31, 2014 and 2013, 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. | |
The Company leased and 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. | |
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. Rent expense for the warehouse was $3,975 and $3,975 for the quarter ended June 30, 2014 and 2013 respectively. | |
b. Litigation | |
Anthony Maher brought suit against PCS in January of 2014, claiming breach of an employment contract, interference with economic expectancy, and fraud. Settlement was agreed in principle during mediation on July 9, 2014 as follows: in exchange for dismissal of the suit, and release of PCS from any liability to Mr. Maher for any and all claims related to Mr. Maher's employment contract with PCS, PCS will issue Mr. Maher 400,000 shares of the common stock of PCS, and pay him $50,000. PCS does not admit the allegations or any other wrongdoing, but rather settled the matter for a modest amount to avoid the expense of defending it in court. The settlement agreement has not been signed but we anticipate execution of the settlement agreement and dismissal of the suit by August 15, 2014. There are no other lawsuits pending involving PCS. | |
c. Contingencies | |
None. |
STOCKHOLDERS_EQUITY
STOCKHOLDERS' EQUITY | 3 Months Ended |
Jun. 30, 2014 | |
STOCKHOLDERS' EQUITY [Abstract] | ' |
STOCKHOLDERS' EQUITY | ' |
NOTE 12 - STOCKHOLDERS' EQUITY | |
a. Common Stock | |
During the three months ending June 30, 2014, $8,750 has been accrued in stock payable for the issue of 150,000 shares for services that will be issued in future periods. The total amount recorded in stock payable as of June 30, 2014 for these services and other prior period services (exclusive of Restricted Stock Units) is $19,830. | |
During the three months ending June 30, 2014, the Company expensed amounts related to stock options and warrants granted in the current period as well as prior periods valued at $9,388. | |
During the three months ended June 30, 2014, the company accrued $12,500 payable in Restricted Stock Unit to its non-management directors. Each restricted stock unit is valued at a range from $0.05 to $0.10, based on the closing price of the Company's 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. As of June 30, 2014, $32,500 has been accrued for director services and recorded in stock payable. | |
b. Preferred Stock | |
The Company has 20,000,000 authorized shares of preferred stock. As of June 30, 2013, there are no preferred shares issued or outstanding. |
BASIC_AND_DILUTED_NET_LOSS_PER
BASIC AND DILUTED NET LOSS PER COMMON SHARE | 3 Months Ended | ||||||||
Jun. 30, 2014 | |||||||||
BASIC AND DILUTED NET LOSS PER COMMON SHARE [Abstract] | ' | ||||||||
BASIC AND DILUTED NET LOSS PER COMMON SHARE | ' | ||||||||
NOTE 13 - BASIC AND DILUTED NET LOSS PER COMMON SHARE | |||||||||
Basic and diluted net loss per common share for the three-month periods ended June 30, 2014 and 2013, are based on 53,335,167 and 49,293,845, respectively, of weighted average common shares outstanding. No adjustment has been made for any common stock equivalents outstanding because their effects would be antidilutive. An adjustment has been made to show that effect on the loss per share from discontinued operations as outlined below. | |||||||||
Basic and diluted net income (loss) per common share: | |||||||||
Basic and diluted loss per share from continuing operations | (0.01 | ) | (0.01 | ) | |||||
Basic and diluted loss per share from discontinued operations | (0.00 | ) | (0.00 | ) | |||||
Basic and diluted net loss per share | $ | (0.01 | ) | $ | (0.01 | ) | |||
Weighted Average Number of Shares Outstanding, Basic and Diluted | 53,370,332 | 49,293,845 |
DILUTIVE_INSTRUMENTS
DILUTIVE INSTRUMENTS | 3 Months Ended | ||||||||||||||||||||||||||||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||||||||||||||||||||||||||||
DILUTIVE INSTRUMENTS [Abstract] | ' | ||||||||||||||||||||||||||||||||||||||||||
DILUTIVE INSTRUMENTS | ' | ||||||||||||||||||||||||||||||||||||||||||
NOTE 14 - DILUTIVE INSTRUMENTS | |||||||||||||||||||||||||||||||||||||||||||
Stock Options and Warrants | |||||||||||||||||||||||||||||||||||||||||||
The Company is required to recognize expense of options or similar equity instruments issued to employees using the fair-value-based method of accounting for stock-based payments in compliance with the financial accounting standard pertaining to share-based payments. This standard covers a wide range of share-based compensation arrangements including share options, restricted share plans, performance-based awards, share appreciation rights, and employee share purchase plans. Application of this standard requires significant judgment regarding the assumptions used in the selected option pricing model, including stock price volatility and employee exercise behavior. Most of these inputs are either highly dependent on the current economic environment at the date of grant or forward-looking over the expected term of the award. | |||||||||||||||||||||||||||||||||||||||||||
Total Issued | Not | ||||||||||||||||||||||||||||||||||||||||||
Issued | Cancelled | Executed | and Outstanding | Exercisable | Vested | ||||||||||||||||||||||||||||||||||||||
Balance as of March 31, 2014 | 27,856,655 | 14,789,300 | 9,722,210 | 3,345,145 | 2,320,145 | 1,025,000 | |||||||||||||||||||||||||||||||||||||
Warrants | — | — | — | ||||||||||||||||||||||||||||||||||||||||
Common Stock | — | 1,010,000 | — | (1,010,000 | ) | (530,000 | ) | (480,000 | ) | ||||||||||||||||||||||||||||||||||
Balance as of June 30, 2014 | 27,856,655 | 15,799,300 | 9,722,210 | 2,335,145 | 1,790,145 | 545,000 | |||||||||||||||||||||||||||||||||||||
No common stock options were exercised during the quarter ended June 30, 2014. | |||||||||||||||||||||||||||||||||||||||||||
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 $17,726. 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 June 30, 2014, $2,914 of the total value was expensed. $1,015 was expensed in the quarter ending June 30, 2014. | |||||||||||||||||||||||||||||||||||||||||||
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 $4,107. 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 June 30, 2014, $675 of the total value was expensed. $341 was expensed in the quarter ending June 30, 2014. | |||||||||||||||||||||||||||||||||||||||||||
On May 15, 2012, the Company granted 850,000 incentive stock options to an officer, Robert Grover. The expected volatility rate of 223.62% calculated using the Company stock price over the period beginning June 1, 2009 through date of issue. A risk free interest rate of 0.38 % was used to value the options. The options were valued using the Black-Scholes valuation model. The total value of this option was $46,175. The options vest over a three year period and are exercisable at $0.06 per share which represents the fair market value at the date of grant in accordance with the 2009 Equity Incentive Plan. As of June 30, 2014, $40,452 in value of the options was expensed. $8,032 was expensed in the quarter ending June 30, 2014. |
SUBSEQUENT_EVENTS
SUBSEQUENT EVENTS | 3 Months Ended |
Jun. 30, 2014 | |
SUBSEQUENT EVENTS [Abstract] | ' |
SUBSEQUENT EVENTS | ' |
NOTE 15 - SUBSEQUENT EVENTS | |
On July 21, 2014 we 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 note pays off: the remaining $75,000 principle balance on the May 16, 2014, $150,000 promissory note; the remaining $12,500 principal balance on the March 4, 2014 $50,000 secured by the T4EDU Training Academy Contract; and applies $17,500 toward the May 1, 2014 promissory note. | |
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 parties notes payable section of NOTE 7 – NOTES PAYABLE). The strike price varied from $0.0325 to .065 depending on the note terms. The conversion is anticipated to result in 18,455,666 shares of common stock. |
PREPAID_EXPENSES_Tables
PREPAID EXPENSES (Tables) | 3 Months Ended | ||||||||
Jun. 30, 2014 | |||||||||
PREPAID EXPENSES [Abstract] | ' | ||||||||
Schedule of Prepaid Expenses | ' | ||||||||
June 30, 2014 | March 31, 2014 | ||||||||
Prepaid insurance | $ | 6,391 | $ | 9,709 | |||||
Prepaid trade show/travel | — | 1,150 | |||||||
Prepaid inventory | 36,150 | 38,452 | |||||||
Prepaid software | 2,865 | 11,457 | |||||||
Prepaid expenses, other | 6934 | 8,138 | |||||||
Total Prepaid Expenses | $ | 52,340 | $ | 68,906 |
FIXED_ASSETS_Tables
FIXED ASSETS (Tables) | 3 Months Ended | ||||||||
Jun. 30, 2014 | |||||||||
FIXED ASSETS [Abstract] | ' | ||||||||
Schedule of Fixed Assets | ' | ||||||||
June 30, 2014 | March 31, 2014 | ||||||||
Computer/office equipment | $ | 40,134 | $ | 10,112 | |||||
Software | 127,355 | 127,355 | |||||||
Accumulated depreciation | (123,039 | ) | (118,005 | ) | |||||
Total Fixed Assets | $ | 44,450 | $ | 19,462 |
ACCRUED_EXPENSES_Tables
ACCRUED EXPENSES (Tables) | 3 Months Ended | ||||||||
Jun. 30, 2014 | |||||||||
ACCRUED EXPENSES [Abstract] | ' | ||||||||
Schedule of Accrued Expenses | ' | ||||||||
June 30, 2014 | March 31, 2014 | ||||||||
Interest payable | 108,067 | 67,933 | |||||||
Sales tax payable | 5,355 | 3,442 | |||||||
Credit card debt | 51,700 | 43,853 | |||||||
Professional fees: legal, accounting & other | — | 9,525 | |||||||
Total accrued expenses | $ | 165,122 | $ | 124,753 |
NOTES_PAYABLE_Tables
NOTES PAYABLE (Tables) | 3 Months Ended | ||||||||
Jun. 30, 2014 | |||||||||
NOTES PAYABLE [Abstract] | ' | ||||||||
Schedule of Notes Payable | ' | ||||||||
June 30, 2014 | March 31, 2014 | ||||||||
Short Term Note Payable, Related Party | $ | 928,382 | $ | 707,251 | |||||
Short Term Convertible Note | 50,000 | 50,000 | |||||||
Short Term Convertible Note, Related Party | - | - | |||||||
Line of Credit | 25,071 | 27,089 | |||||||
Long Term Note Payable | 80,000 | ||||||||
Long Term Note Payable, Related Party | 23,846 | 23,846 | |||||||
Long Term Convertible Note, net of $3,953 and $7,333 discount for period ended June 30, 2014 and March 31, 2014, respectively | 237,281 | 236,541 | |||||||
Long Term Convertible Note, Related Party, net of $297,178 and $315,721 discount for period ended June 30, 2014 and March 31, 2014, respectively | 311,833 | 293,436 | |||||||
Total Notes Payable | $ | 1,656,413 | $ | 1,338,163 |
FAIR_VALUE_OF_FINANCIAL_INSTRU1
FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables) | 3 Months Ended | ||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||
FAIR VALUE OF FINANCIAL INSTRUMENTS [Abstract] | ' | ||||||||||||||||
Summary of the valuation of financial instruments at fair value on a recurring basis in the balance sheets | ' | ||||||||||||||||
Fair Value Measurements at June 30, 2014 | |||||||||||||||||
Liabilities | Level 1 | Level 2 | Level 3 | Gain/(loss) | |||||||||||||
Derivative Liabilities | $ | — | $ | — | — | — | |||||||||||
$ | — | $ | — | — | — |
BASIC_AND_DILUTED_NET_LOSS_PER1
BASIC AND DILUTED NET LOSS PER COMMON SHARE (Tables) | 3 Months Ended | ||||||||
Jun. 30, 2014 | |||||||||
BASIC AND DILUTED NET LOSS PER COMMON SHARE [Abstract] | ' | ||||||||
Schedule of an adjustment has been made to show that effect on the loss per share from discontinued operations | ' | ||||||||
Basic and diluted net income (loss) per common share: | |||||||||
Basic and diluted loss per share from continuing operations | (0.01 | ) | (0.01 | ) | |||||
Basic and diluted loss per share from discontinued operations | (0.00 | ) | (0.00 | ) | |||||
Basic and diluted net loss per share | $ | (0.01 | ) | $ | (0.01 | ) | |||
Weighted Average Number of Shares Outstanding, Basic and Diluted | 53,370,332 | 49,293,845 |
DILUTIVE_INSTRUMENTS_Tables
DILUTIVE INSTRUMENTS (Tables) | 3 Months Ended | ||||||||||||||||||||||||||||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||||||||||||||||||||||||||||
DILUTIVE INSTRUMENTS [Abstract] | ' | ||||||||||||||||||||||||||||||||||||||||||
Schedule of Stock-Based Payment Awards | ' | ||||||||||||||||||||||||||||||||||||||||||
Total Issued | Not | ||||||||||||||||||||||||||||||||||||||||||
Issued | Cancelled | Executed | and 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 | — | — | — | ||||||||||||||||||||||||||||||||||||||||
Common Stock | — | 1,010,000 | — | (1,010,000 | ) | (530,000 | ) | (480,000 | ) | ||||||||||||||||||||||||||||||||||
Balance as of June 30, 2014 | 27,856,655 | 15,799,300 | 9,722,210 | 2,335,145 | 1,790,145 | 545,000 |
ORGANIZATION_AND_DESCRIPTION_O1
ORGANIZATION AND DESCRIPTION OF BUSINESS (Details) | 3 Months Ended |
Jun. 30, 2014 | |
item | |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ' |
Number of EdventuresLab programs that have been opened and are operating in the Idaho Treasure Valley | 2 |
Ownership percentage | 100.00% |
GOING_CONCERN_Details
GOING CONCERN (Details) (USD $) | 3 Months Ended | |
Jun. 30, 2014 | Jun. 30, 2013 | |
GOING CONCERN [Abstract] | ' | ' |
Revenue | $1,002,566 | $353,787 |
Revenue, percentage increase | 155.00% | ' |
NET LOSS | -327,260 | -278,707 |
Net loss, percentage increase resulting from increased cost of goods, investments in R&D and marketing, with some mitigation by continued effort to keep costs down | 17.00% | ' |
Cash flow from operations | ($191,904) | ($258,132) |
PREPAID_EXPENSES_Details
PREPAID EXPENSES (Details) (USD $) | Jun. 30, 2014 | Mar. 31, 2014 |
PREPAID EXPENSES [Abstract] | ' | ' |
Prepaid insurance | $6,391 | $9,709 |
Prepaid trade show/travel | ' | 1,150 |
Prepaid inventory | 36,150 | 38,452 |
Prepaid software | 2,865 | 11,457 |
Prepaid expenses, other | 6,934 | 8,138 |
Total Prepaid Expenses | $52,340 | $68,906 |
FIXED_ASSETS_Details
FIXED ASSETS (Details) (USD $) | 3 Months Ended | ||
Jun. 30, 2014 | Jun. 30, 2013 | Mar. 31, 2014 | |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Accumulated depreciation | ($123,039) | ' | ($118,005) |
Total Fixed Assets | 44,450 | ' | 19,462 |
Depreciation expense | 5,465 | 4,679 | ' |
Computer/office equipment [Member] | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Fixed Assets | 40,134 | ' | 10,112 |
Software [Member] | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Fixed Assets | $127,355 | ' | $127,355 |
ACCRUED_EXPENSES_Details
ACCRUED EXPENSES (Details) (USD $) | Jun. 30, 2014 | Mar. 31, 2014 |
ACCRUED EXPENSES [Abstract] | ' | ' |
Interest payable | $108,067 | $67,933 |
Sales tax payable | 5,355 | 3,442 |
Credit card debt | 51,700 | 43,853 |
Professional fees: legal, accounting & other | ' | 9,525 |
Total accrued expenses | $165,122 | $124,753 |
NOTES_PAYABLE_Notes_Payable_an
NOTES PAYABLE (Notes Payable and Line of Credit) (Details) (USD $) | 3 Months Ended | 0 Months Ended | 0 Months Ended | 0 Months Ended | 3 Months Ended | 0 Months Ended | 3 Months Ended | 0 Months Ended | 0 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Jun. 30, 2014 | Jun. 30, 2013 | Mar. 31, 2014 | Jul. 21, 2014 | Jun. 30, 2014 | 16-May-14 | Aug. 30, 2014 | Jul. 21, 2014 | 1-May-14 | Jun. 30, 2014 | Jun. 30, 2014 | Dec. 30, 2011 | Jun. 30, 2014 | 1-May-13 | Apr. 02, 2013 | Jan. 13, 2012 | Apr. 02, 2013 | Jan. 13, 2012 | Apr. 02, 2013 | Jan. 13, 2012 | 24-May-13 | Jun. 30, 2014 | Apr. 02, 2013 | Feb. 26, 2013 | Jun. 30, 2014 | Jun. 30, 2014 | 24-May-13 | Mar. 28, 2013 | Jun. 30, 2014 | Apr. 03, 2014 | Jun. 30, 2014 | Jun. 27, 2014 | Jun. 11, 2014 | Jun. 05, 2014 | Apr. 15, 2014 | Apr. 11, 2014 | Jun. 30, 2014 | Jan. 22, 2014 | Mar. 22, 2013 | Sep. 30, 2013 | Mar. 31, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Feb. 13, 2014 | Feb. 21, 2014 | Mar. 04, 2014 | Jun. 30, 2014 | 2-May-14 | Jul. 21, 2014 | Jun. 30, 2014 | 5-May-14 | Jun. 30, 2014 | Jun. 27, 2014 | 16-May-14 | Jun. 30, 2014 | 21-May-14 | Jun. 30, 2014 | Jun. 03, 2014 | Jun. 30, 2014 | Jun. 27, 2014 | Jun. 30, 2014 | Sep. 13, 2011 | |
Subsequent Event [Member] | Short Term Promissory Note Five [Member] | Short Term Promissory Note Five [Member] | Short Term Promissory Note Five [Member] | Short Term Promissory Note Five [Member] | Long Term Note Payable [Member] | Long Term Note Payable [Member] | Note Payable [Member] | Note Payable [Member] | Separate Promissory Notes [Member] | Separate Promissory Notes [Member] | Separate Promissory Notes [Member] | Separate Promissory Notes [Member] | Separate Promissory Notes, Note One [Member] | Separate Promissory Notes, Note One [Member] | Separate Promissory Notes Note Two [Member] | Separate Promissory Notes Note Two [Member] | Shareholder Promissory Note [Member] | Shareholder Promissory Note [Member] | Shareholder Promissory Note [Member] | Shareholder Promissory Note [Member] | Separate promissory notes Note Seven [Member] | Separate promissory notes Note Seven [Member] | Separate promissory notes Note Seven [Member] | Separate promissory notes Note Seven [Member] | Separate promissory notes Note Ten [Member] | Separate promissory notes Note Ten [Member] | Separate promissory notes Note Eleven [Member] | Separate promissory notes Note Eleven [Member] | Separate promissory notes Note Eleven [Member] | Separate promissory notes Note Eleven [Member] | Separate promissory notes Note Eleven [Member] | Note Payable One [Member] | Note Payable One [Member] | Loan Transaction Board of Directors [Member] | Loan Transaction Board of Directors [Member] | Long Term Convertible Promissory Note One [Member] | Long Term Convertible Promissory Note One [Member] | Long Term Convertible Promissory Note One [Member] | Loan Transaction Board of Directors Two [Member] | Loan Transaction Board of Directors Two [Member] | Loan Transaction Board of Directors Three [Member] | Loan Transaction Board of Directors Four [Member] | Separate promissory notes Note Twelve [Member] | Separate promissory notes Note Twelve [Member] | Separate promissory notes Note Twelve [Member] | Separate promissory notes Note Thirteen [Member] | Separate promissory notes Note Thirteen [Member] | Separate promissory notes Note Fourteen [Member] | Separate promissory notes Note Fourteen [Member] | Separate promissory notes Note Fourteen [Member] | Separate promissory notes Note Fifteen [Member] | Separate promissory notes Note Fifteen [Member] | Separate promissory notes Note Sixteen [Member] | Separate promissory notes Note Sixteen [Member] | Separate promissory notes Note Seventeen [Member] | Separate promissory notes Note Seventeen [Member] | Line of Credit [Member] | Line of Credit [Member] | ||||
Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Note payable amount | ' | ' | ' | ' | ' | ' | $150,000 | ' | ' | ' | ' | $30,000 | ' | ' | $64,200 | $70,000 | $32,100 | $35,000 | $32,100 | $35,000 | $95,000 | ' | ' | $65,000 | ' | ' | $95,000 | $50,000 | ' | $60,000 | $150,000 | ' | ' | ' | $160,000 | ' | ' | $200,000 | $25,000 | ' | ' | ' | ' | $250,000 | $70,000 | $50,000 | ' | $60,000 | ' | ' | $145,000 | ' | ' | $150,000 | ' | $50,000 | ' | $25,000 | ' | $150,000 | ' | ' |
Maturity period | ' | ' | ' | ' | ' | ' | ' | ' | '36 months | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '36 months | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long Term Note Payable | 80,000 | ' | ' | ' | ' | ' | ' | ' | 20,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 60,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest rate | ' | ' | ' | ' | ' | ' | 15.00% | ' | 12.00% | ' | ' | 10.00% | ' | ' | 9.00% | 9.00% | 9.00% | 9.00% | 9.00% | 9.00% | ' | ' | ' | 15.00% | ' | ' | ' | 12.00% | ' | 15.00% | ' | ' | ' | ' | 15.00% | ' | 12.00% | 15.00% | 8.00% | 8.00% | ' | ' | ' | 15.00% | 15.00% | 15.00% | ' | 15.00% | ' | ' | 15.00% | ' | ' | 15.00% | ' | 15.00% | ' | 15.00% | ' | 15.00% | ' | 17.50% |
Accrued interest payable | 108,067 | ' | 67,933 | ' | 1,269 | ' | ' | ' | ' | 401 | 7,258 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,170 | ' | 4,159 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,496 | 14,075 | ' | ' | ' | 1,504 | ' | ' | 3,277 | ' | 2,681 | ' | ' | 822 | ' | 277 | ' | 185 | ' | ' | ' |
Debt discount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 21,923 | 15,322 | ' | ' | 15,322 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 25,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amortization of Debt Discount (Premium) | 19,285 | 11,866 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,639 | ' | ' | ' | 1,639 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,551 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Minimum monthly payment, percent of loan balances | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.50% | ' | 1.50% | ' | 1.50% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Payments made | ' | ' | ' | ' | ' | 37,500 | ' | 12,500 | ' | ' | ' | ' | ' | 1,033.17 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 75,000 | 60,000 | 25,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Principal paid | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7,976 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 20,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 17,500 | ' | ' | ' | 75,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accrued interest, payment | ' | ' | ' | 49,874 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,578 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Principle balance | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 56,224 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest expense | 71,780 | 28,774 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line of Credit | 25,071 | ' | 27,089 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 39,050 |
Line of Credit, principal payments | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 13,979 | ' |
Debt conversion, price per share | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.04 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amount of note converted | ' | ' | ' | 646,500 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 25,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Discount, percent of market price | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 50.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Unamortized debt discount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $21,449 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
NOTES_PAYABLE_Convertible_Note
NOTES PAYABLE (Convertible Notes) (Details) (USD $) | 3 Months Ended | 0 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | 17 Months Ended | 0 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 0 Months Ended | 3 Months Ended | 12 Months Ended | 0 Months Ended | 3 Months Ended | 12 Months Ended | |||||||||||||||||||
Jun. 30, 2014 | Jun. 30, 2013 | Mar. 31, 2014 | Jun. 30, 2014 | Apr. 30, 2013 | Jun. 30, 2014 | Jul. 30, 2013 | 24-May-13 | Jun. 30, 2014 | Mar. 31, 2014 | Jun. 30, 2014 | Aug. 31, 2014 | Mar. 31, 2014 | Mar. 31, 2013 | Aug. 01, 2012 | Jun. 14, 2012 | Jun. 30, 2014 | Feb. 29, 2012 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Dec. 31, 2012 | Mar. 31, 2014 | Mar. 31, 2013 | Dec. 03, 2012 | Jun. 30, 2014 | Mar. 31, 2013 | Mar. 31, 2014 | Jan. 11, 2013 | Sep. 30, 2013 | Jun. 30, 2014 | Mar. 31, 2014 | Sep. 30, 2013 | Jan. 08, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | |
Accredited Investor Five [Member] | Accredited Investor Five [Member] | Accredited Investor Six [Member] | Accredited Investor Six [Member] | Promissory Note Four [Member] | Promissory Note Four [Member] | Promissory Note Four [Member] | Convertible Promisorry Notes [Member] | Convertible Promisorry Notes [Member] | Convertible Promisorry Notes [Member] | Convertible Promisorry Notes [Member] | Convertible Promisorry Notes [Member] | Three Separate Convertible Promissory Notes [Member] | Three Separate Convertible Promissory Notes [Member] | Three Separate Convertible Promissory Notes [Member] | Separate Promissory Notes, Note One [Member] | Separate Promissory Notes Note Two [Member] | Board member and shareholder [Member] | Board member and shareholder [Member] | Board member and shareholder [Member] | Board member and shareholder [Member] | Board member and shareholder [Member] | Accredited Investor One [Member] | Accredited Investor One [Member] | Accredited Investor One [Member] | Accredited Investor One [Member] | Board Member And Shareholder Three [Member] | Board Member And Shareholder Three [Member] | Board Member And Shareholder Three [Member] | Board Member And Shareholder Four [Member] | Long Term Convertible Promissory Note [Member] | Long Term Convertible Promissory Note [Member] | Long Term Convertible Promissory Note [Member] | ||||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest rate | ' | ' | ' | ' | 8.00% | ' | 8.00% | ' | ' | ' | ' | ' | ' | ' | ' | 10.00% | ' | 10.00% | ' | ' | ' | ' | ' | ' | 8.00% | ' | ' | ' | 8.00% | 8.00% | ' | ' | 10.00% | 8.00% | ' | ' |
Note payable amount | ' | ' | ' | ' | $5,000 | ' | $5,000 | ' | ' | ' | ' | ' | ' | $34,011 | $215,000 | $50,000 | ' | $100,000 | ' | ' | ' | ' | ' | ' | $45,000 | ' | ' | ' | $21,500 | ' | ' | ' | $260,000 | ' | ' | ' |
Debt conversion, price per share | ' | ' | ' | ' | $0.20 | ' | $0.20 | ' | $0.03 | ' | ' | ' | ' | ' | ' | $0.05 | ' | $0.05 | ' | ' | ' | ' | ' | ' | $0.04 | ' | ' | ' | $0.07 | $0.04 | ' | ' | ' | ' | ' | ' |
Principle balance | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 243,745 | ' | ' | ' | ' | ' | 50,000 | ' | 35,000 | 15,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accrued interest | 108,067 | ' | 67,933 | 500 | ' | 361 | ' | ' | ' | ' | ' | ' | 17,796 | ' | ' | ' | 11,671 | ' | ' | ' | 898 | ' | ' | ' | ' | 1,286 | ' | ' | ' | ' | 8,975 | ' | ' | ' | 16,911 | ' |
Debt discount | ' | ' | ' | ' | ' | ' | ' | 21,923 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 18,255 | ' | ' | ' | ' | 9,285 | ' | ' | 150,000 | ' | ' | ' | 156,000 | ' | ' |
Debt discount amortization | 19,285 | 11,866 | ' | ' | ' | ' | ' | ' | 1,639 | 5,108 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,471 | ' | 5,300 | 1,233 | ' | 740 | ' | 2,640 | ' | ' | 2,728 | 18,579 | ' | ' | 1,252 | 22,286 |
Interest expense | 71,780 | 28,774 | ' | ' | ' | ' | ' | ' | ' | ' | 3,087 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Warrants, expiration period, months | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 36 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Quarterly payments | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 40,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Conversion of debt, days written notice required | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7 | ' | 7 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Conversion of debt, percent of cash payable | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.50% | ' | 0.50% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amount of note converted | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 50,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 150,000 | ' | ' | ' | ' | ' | ' |
Conversion of notes payable, shares | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,028,770 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Discount, percent of market price | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 50.00% | ' | ' | ' | ' | ' | ' |
Unamortized debt discount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $11,722 | ' | ' | ' | ' | ' | ' | ' | ' | $131,421 | ' | ' | ' | $133,714 |
NOTES_PAYABLE_Schedule_of_Note
NOTES PAYABLE (Schedule of Notes Payable) (Details) (USD $) | Jun. 30, 2014 | Mar. 31, 2014 |
NOTES PAYABLE [Abstract] | ' | ' |
Short Term Note Payable, Related Party | $928,382 | $707,251 |
Short Term Convertible Note | 50,000 | 50,000 |
Short Term Convertible Note, Related Party | ' | ' |
Line of Credit | 25,071 | 27,089 |
Long Term Note Payable | 80,000 | ' |
Long Term Note Payable, Related Party | 23,846 | 23,846 |
Long Term Convertible Note, net of $3,953 and $7,333 discount for period ended June 30, 2014 and March 31, 2014, respectively | 237,281 | 236,541 |
Long Term Convertible Note, Related Party, net of $297,178 and $315,721 discount for period ended June 30, 2014 and March 31, 2014, respectively | 311,833 | 293,436 |
Total Notes Payable | 1,656,413 | 1,338,163 |
Long Term Convertible Note, discount | 3,953 | 4,693 |
Long Term Convertible Note, Related Party, discount | $297,178 | $315,721 |
FAIR_VALUE_OF_FINANCIAL_INSTRU2
FAIR VALUE OF FINANCIAL INSTRUMENTS (Details) (USD $) | Jun. 30, 2014 |
Level 1 | ' |
Fair value of financial instruments | ' |
Derivative Liabilities | ' |
Liabilities | ' |
Level 2 | ' |
Fair value of financial instruments | ' |
Derivative Liabilities | ' |
Liabilities | ' |
Level 3 | ' |
Fair value of financial instruments | ' |
Derivative Liabilities | ' |
Liabilities | ' |
Gain/(loss) | ' |
Fair value of financial instruments | ' |
Derivative Liabilities | ' |
Liabilities | ' |
DISCONTINUED_OPERATIONS_Detail
DISCONTINUED OPERATIONS (Details) (USD $) | 0 Months Ended | 3 Months Ended | ||
Aug. 31, 2013 | Jul. 31, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ' | ' | ' | ' |
Net loss from discontinued operations | ' | ' | ' | ($16,836) |
LabMentors [Member] | ' | ' | ' | ' |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ' | ' | ' | ' |
Proposed sale price of subsidiary | ' | 150,000 | ' | ' |
Notes payable, interest rate | ' | 3.00% | ' | ' |
Term of note payable | ' | '60 months | ' | ' |
Sale price of subsidiary to Joseph Khoury | 100,000 | ' | ' | ' |
Outstanding liabilities and a note receivable | 50,740 | ' | ' | ' |
Net loss from discontinued operations | ' | ' | $0 | ($16,836) |
COMMITMENTS_AND_CONTINGENCIES_
COMMITMENTS AND CONTINGENCIES (Narrative) (Details) (USD $) | 0 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | ||||
Jul. 09, 2014 | Dec. 31, 2014 | Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2014 | Mar. 31, 2013 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2013 | |
Breach of an employment contract | Scenario, Forecast [Member] | Building [Member] | Building [Member] | Building [Member] | Building [Member] | Learning Lab Site [Member] | Warehouses [Member] | Warehouses [Member] | |
Subsequent Event [Member] | sqft | sqft | |||||||
Operating Leased Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Operating Leases, Rent Expense | ' | ' | $21,196 | $26,041 | $99,318 | $107,717 | ' | $3,975 | $3,975 |
Operating lease, term | ' | ' | ' | ' | '13 months | ' | '3 years | '24 months | ' |
Area of property leased | ' | 5,412 | ' | ' | ' | ' | 1,050 | ' | ' |
Future operating lease, monthly payment to be reduced | ' | 6,765 | ' | ' | ' | ' | ' | ' | ' |
Annual base rent | ' | ' | ' | ' | ' | ' | 16,640 | ' | ' |
Annual base rent per month | ' | ' | ' | ' | ' | ' | 1,387 | ' | ' |
Growth rate per year (as a percent) | ' | ' | ' | ' | ' | ' | 3.00% | ' | ' |
Shares of the common stock that will be issued Mr. Maher | 400,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Amount paid to Mr. Maher | 50,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Number of other lawsuits pending | $0 | ' | ' | ' | ' | ' | ' | ' | ' |
STOCKHOLDERS_EQUITY_Details
STOCKHOLDERS' EQUITY (Details) (USD $) | 3 Months Ended | ||
Jun. 30, 2014 | Jun. 30, 2013 | Mar. 31, 2014 | |
Stockholders Equity [Line Items] | ' | ' | ' |
Amortization of fair value of stock options | $9,388 | $13,193 | ' |
Preferred stock, shares authorized | 20,000,000 | ' | 20,000,000 |
Preferred stock, shares issued | 0 | ' | 0 |
Preferred stock, shares outstanding | 0 | ' | 0 |
Goods and Services Exchanged for Equity Instrument [Member] | ' | ' | ' |
Stockholders Equity [Line Items] | ' | ' | ' |
Stock payable for service | 8,750 | ' | ' |
Shares reserved for issuance | 150,000 | ' | ' |
Total amount recorded in stock payable | 19,830 | ' | ' |
Non-management directors [Member] | ' | ' | ' |
Stockholders Equity [Line Items] | ' | ' | ' |
Stock payable for service | 32,500 | ' | ' |
Restricted stock units payable for issuance to non-management directors | $12,500 | ' | ' |
Service period | '12 months | ' | ' |
Non-management directors [Member] | Minimum [Member] | ' | ' | ' |
Stockholders Equity [Line Items] | ' | ' | ' |
RSUs, value per share | $0.05 | ' | ' |
Vesting period | '12 months | ' | ' |
Non-management directors [Member] | Maximum [Member] | ' | ' | ' |
Stockholders Equity [Line Items] | ' | ' | ' |
RSUs, value per share | $0.10 | ' | ' |
BASIC_AND_DILUTED_NET_LOSS_PER2
BASIC AND DILUTED NET LOSS PER COMMON SHARE (Details) (USD $) | 3 Months Ended | |
Jun. 30, 2014 | Jun. 30, 2013 | |
Basic and diluted net income (loss) per common share: | ' | ' |
Basic and diluted loss per share from continuing operations | ($0.01) | ($0.01) |
Basic and diluted loss per share from discontinued operations | $0 | $0 |
Basic and diluted net loss per share | ($0.01) | ($0.01) |
Weighted Average Number of Shares Outstanding, Basic and Diluted | 53,335,167 | 49,293,845 |
Adjustment has been made for any common stock equivalents outstanding because their effects would be antidilutive | 0 | ' |
DILUTIVE_INSTRUMENTS_Narrative
DILUTIVE INSTRUMENTS (Narrative) (Details) (USD $) | 3 Months Ended | 12 Months Ended | 3 Months Ended | 5 Months Ended | 12 Months Ended | 3 Months Ended | 6 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 25 Months Ended | ||||
Jun. 30, 2014 | Mar. 31, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Mar. 31, 2014 | Mar. 31, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Mar. 31, 2014 | Mar. 31, 2014 | Jun. 30, 2014 | Mar. 31, 2013 | Jun. 30, 2014 | |
Transaction One [Member] | Transaction One [Member] | Transaction One [Member] | Transaction One [Member] | Transaction One [Member] | Transaction Two [Member] | Transaction Two [Member] | Transaction Two [Member] | Transaction Two [Member] | Transaction Two [Member] | Transaction Three [Member] | Transaction Three [Member] | Transaction Three [Member] | |||
item | Minimum [Member] | Maximum [Member] | item | Minimum [Member] | Maximum [Member] | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Issued | 27,856,655 | 27,856,655 | ' | ' | 40,000 | ' | ' | ' | ' | 40,000 | ' | ' | ' | 850,000 | ' |
Number of employees to whom options were granted | ' | ' | ' | ' | 3 | ' | ' | ' | ' | 1 | ' | ' | ' | ' | ' |
Vesting period | ' | ' | ' | ' | '3 years | ' | ' | ' | ' | '3 years | ' | ' | ' | ' | ' |
Expected volatility rate | ' | ' | ' | ' | 259.07% | ' | ' | ' | ' | 258.20% | ' | ' | ' | 223.62% | ' |
Risk free interest rate, minimum | ' | ' | ' | ' | 0.26% | ' | ' | ' | ' | 0.41% | ' | ' | ' | ' | ' |
Risk free interest rate, maximum | ' | ' | ' | ' | 0.76% | ' | ' | ' | ' | 0.64% | ' | ' | ' | ' | ' |
Risk free interest rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.38% | ' |
Value | ' | ' | ' | ' | $17,726 | ' | ' | ' | ' | $4,107 | ' | ' | ' | $46,175 | ' |
Weighted-average exercise price per share, granted | ' | ' | ' | ' | ' | $0.05 | $0.60 | ' | ' | ' | $0.05 | $0.60 | ' | $0.06 | ' |
Options expense | ' | ' | $1,015 | $2,914 | ' | ' | ' | $341 | $675 | ' | ' | ' | $8,032 | ' | $40,452 |
DILUTIVE_INSTRUMENTS_Schedule_
DILUTIVE INSTRUMENTS (Schedule of Stock-Based Payment Awards) (Details) | 3 Months Ended | 12 Months Ended |
Jun. 30, 2014 | Mar. 31, 2014 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Issued | 27,856,655 | 27,856,655 |
Cancelled | 15,799,300 | 14,789,300 |
Executed | 9,722,210 | 9,722,210 |
Total Issued and Outstanding | 2,335,145 | 3,345,145 |
Exercisable | 1,790,145 | 2,320,145 |
Not Vested | 545,000 | 1,025,000 |
Warrants [Member] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Cancelled | ' | ' |
Executed | ' | ' |
Total Issued and Outstanding | ' | ' |
Common Stock [Member] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Issued | ' | ' |
Cancelled | 1,010,000 | ' |
Executed | ' | ' |
Total Issued and Outstanding | -1,010,000 | ' |
Exercisable | -530,000 | ' |
Not Vested | -480,000 | ' |
SUBSEQUENT_EVENTS_Details
SUBSEQUENT EVENTS (Details) (USD $) | 16-May-14 | 1-May-14 | Mar. 04, 2014 | Jul. 21, 2014 | Jul. 21, 2014 | Jul. 21, 2014 | Jul. 21, 2014 |
Promissory Note Eighteen [Member] | Promissory Note Eighteen [Member] | Promissory Note Eighteen [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | |
Minimum [Member] | Maximum [Member] | Promissory Note Eighteen [Member] | |||||
Subsequent Event [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Note payable amount | $150,000 | $17,500 | $50,000 | ' | ' | ' | $105,000 |
Interest rate | ' | ' | ' | ' | ' | ' | 15.00% |
Principal paid | 75,000 | ' | 12,500 | ' | ' | ' | ' |
Convertible long term related party, notes payable | ' | ' | ' | 646,500 | ' | ' | ' |
Accrued interest, payment | ' | ' | ' | $49,874 | ' | ' | ' |
Strike price | ' | ' | ' | ' | $0.03 | $0.07 | ' |
Anticipated result of conversion | ' | ' | ' | 18,455,666 | ' | ' | ' |