Document and Entity Information
Document and Entity Information - shares | 6 Months Ended | |
Sep. 30, 2015 | Nov. 09, 2015 | |
Document and Entity Information [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Sep. 30, 2015 | |
Entity Registrant Name | PCS EDVENTURES COM INC | |
Entity Central Index Key | 1,122,020 | |
Current Fiscal Year End Date | --03-31 | |
Document Fiscal Period Focus | Q2 | |
Document Fiscal Year Focus | 2,016 | |
Entity Current Reporting Status | Yes | |
Entity Filer Category | Smaller Reporting Company | |
Entity Common Stock, Shares Outstanding | 75,194,368 |
Balance Sheets
Balance Sheets - USD ($) | Sep. 30, 2015 | Mar. 31, 2015 |
CURRENT ASSETS | ||
Cash | $ 192,665 | $ 130,162 |
Accounts receivable, net of allowance for doubtful accounts of $3,184 and $3,184, respectively | 331,477 | 358,033 |
Prepaid expenses | 81,142 | 112,704 |
Finished goods inventory | 267,774 | 251,164 |
Other Receivable | 18,627 | 3,236 |
Discontinued assets | ||
Total Current Assets | 891,685 | 855,299 |
FIXED ASSETS, net of accumulated depreciation of $150,018 and $144,821, respectively | $ 20,657 | 25,854 |
OTHER ASSETS | ||
Note Receivable net of allowance of $49,513 and $47,998, respectively | 1,515 | |
Mold Cost | 10,229 | |
Deposits | $ 8,097 | 9,450 |
Total Other Assets | 8,097 | 21,194 |
TOTAL ASSETS | 920,439 | 902,347 |
CURRENT LIABILITIES | ||
Accounts payable and other current liabilities | 370,527 | 312,951 |
Payroll liabilities payable | 23,865 | 28,907 |
Accrued expenses | 195,942 | 102,936 |
Deferred revenue | 22,838 | 158,420 |
Note payable convertible, related party net of $3,723 and $24,063 discount for September 30 and March 31, 2015, respectively | 196,277 | 175,937 |
Note payable, related party | 1,467,679 | $ 1,389,495 |
Current portion of long term liabilities | 132,626 | |
Total Short term and current portion long term notes payable | 1,796,582 | $ 1,565,432 |
Discontinued liabilities associated with discontinued assets | ||
Total Current Liabilities | 2,409,754 | 2,168,646 |
Long term debt | 108,721 | 407,105 |
Total Liabilities | $ 2,518,475 | $ 2,575,751 |
STOCKHOLDERS' DEFICIT | ||
Preferred stock, no par value, 20,000,000 authorized shares, no shares issued and outstanding | ||
Common stock, no par value, 100,000,000 authorized shares, 75,194,368 and 74,235,284 shares issued and outstanding, respectively | $ 38,119,167 | $ 37,923,485 |
Stock payable | 20,140 | 9,000 |
Restricted Stock Units payable | 81,345 | 12,117 |
Accumulated deficit | (39,818,688) | (39,618,006) |
Total Stockholders' Deficit | (1,598,036) | (1,673,404) |
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT | $ 920,439 | $ 902,347 |
Balance Sheets (Parenthetical)
Balance Sheets (Parenthetical) - USD ($) | Sep. 30, 2015 | Mar. 31, 2015 |
Balance Sheets [Abstract] | ||
Accounts receivable, allowance for doubtful accounts | $ 3,184 | $ 3,184 |
FIXED ASSETS, accumulated depreciation | 150,018 | 144,821 |
Allowance for notes receivable | 49,513 | 47,998 |
Note payable, convertible, related party, discount | $ 3,723 | $ 24,063 |
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 | 100,000,000 | 100,000,000 |
Common stock, shares issued | 75,194,368 | 74,235,284 |
Common stock, shares outstanding | 75,194,368 | 74,235,284 |
Statements of Operations
Statements of Operations - USD ($) | 3 Months Ended | 6 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
REVENUES | ||||
Lab revenue | $ 462,833 | $ 287,283 | $ 1,388,534 | $ 957,646 |
International service revenue | 1,302 | 219,711 | 288,870 | 504,794 |
Learning Center revenue | 46,423 | 41,380 | 115,731 | 77,819 |
License and royalty revenue | 14,249 | 6,165 | 22,891 | 16,845 |
Total Revenues | 524,807 | 554,539 | 1,816,026 | 1,557,104 |
COST OF SALES | 237,034 | 405,141 | 785,747 | 1,030,422 |
GROSS PROFIT | 287,773 | 149,398 | 1,030,279 | 526,682 |
OPERATING EXPENSES | ||||
Salaries and wages | 163,319 | 201,764 | 345,864 | 460,441 |
Depreciation and amortization expense | 11,717 | 7,117 | 14,316 | 12,582 |
General and administrative expenses | 381,748 | 355,589 | 705,743 | 724,212 |
Total Operating Expenses | 556,784 | 564,470 | 1,065,923 | 1,197,235 |
OPERATING INCOME (LOSS) | (269,011) | (415,072) | (35,644) | (670,553) |
OTHER INCOME AND EXPENSES | ||||
Interest expense | (62,537) | (345,811) | (165,038) | (417,590) |
Total Other Income/(Expense) | (62,537) | (345,811) | (165,038) | (417,590) |
INCOME (LOSS) FROM OPERATIONS | (331,548) | (760,883) | (200,682) | (1,088,143) |
NET INCOME (LOSS) | (331,548) | (760,883) | (200,682) | (1,088,143) |
NET COMPREHENSIVE INCOME (LOSS) | (331,548) | (760,883) | (200,682) | (1,088,143) |
NET LOSS ATTRIBUTABLE TO COMMON SHAREHOLDERS | $ (331,548) | $ (760,883) | $ (200,682) | $ (1,088,143) |
Net income per common share: | ||||
Basic | $ 0 | $ (0.01) | $ 0 | $ (0.02) |
Diluted | $ 0 | $ (0.01) | $ 0 | $ (0.02) |
Weighted average number of common shares outstanding: | ||||
Weighted Average Number of Shares Outstanding, Basic and Diluted | 74,917,541 | 60,843,159 | 74,356,534 | 60,825,672 |
Statements of Stockholders' Def
Statements of Stockholders' Deficit - 6 months ended Sep. 30, 2015 - USD ($) | Total | Capital Stock [Member] | Stock Payable [Member] | Accumulated Deficit [Member] |
Balance at Mar. 31, 2015 | $ (1,673,404) | $ 37,923,485 | $ 21,117 | $ (39,618,006) |
Balance, shares at Mar. 31, 2015 | 74,235,284 | 74,235,284 | ||
Stock for Services | $ 33,140 | $ 22,000 | 11,140 | |
Stock for Services, shares | ||||
Stock for RSU's | $ 69,228 | $ 69,228 | ||
Stock for RSU's, shares | ||||
Stock for exercise of options & warrants | 19,000 | |||
Stock for Cash | $ 8,400 | $ 8,400 | ||
Stock for Cash, shares | 120,000 | |||
Conversion of notes payable | 159,901 | $ 159,901 | ||
Conversion of notes payable, shares | 1,066,006 | |||
Option/Warrant Expense | 5,381 | $ 5,381 | ||
Net Loss through 09/30/2015 | (200,682) | $ (200,682) | ||
Balance at Sep. 30, 2015 | $ (1,598,036) | $ 38,119,167 | $ 101,485 | $ (39,818,688) |
Balance, shares at Sep. 30, 2015 | 75,194,368 | 75,640,290 |
Statements of Cash Flows
Statements of Cash Flows - USD ($) | 6 Months Ended | |
Sep. 30, 2015 | Sep. 30, 2014 | |
CASH FLOWS FROM OPERATING ACTIVITIES | ||
Net Loss | $ (200,682) | $ (1,088,143) |
Adjustments to reconcile net loss to net cash provided by operating activities: | ||
Debt discount amortization | 58,524 | 320,267 |
Depreciation and amortization | $ 5,196 | 14,801 |
Stock on settlement | $ 22,000 | |
Impairment of Brain Mold | $ 9,119 | |
Common stock issued for services | 22,000 | $ 62,308 |
Stock payable for service | 80,368 | 66,080 |
Amortization of fair value of stock options | 5,381 | 11,222 |
Changes in operating assets and liabilities: | ||
(Increase) decrease in accounts receivable | 26,556 | 309,129 |
(Increase) decrease in prepaid expenses | 31,562 | (74,078) |
(Increase) decrease in inventories | (16,609) | $ (55,367) |
(Increase) decrease in other current assets | (13,876) | |
(Increase) decrease in other assets | 2,464 | $ (2,905) |
(Decrease) increase in accounts payable and accrued liabilities | 164,150 | (18,282) |
Increase (decrease) in unearned revenue | (135,582) | 11,942 |
Net Cash Provided used by Operating Activities | $ 38,571 | (421,026) |
CASH FLOWS FROM INVESTING ACTIVITIES | ||
Cash paid for purchase of fixed assets | (33,328) | |
Net Cash Used by Investing Activities | (33,328) | |
CASH FLOWS FROM FINANCING ACTIVITIES | ||
Repayment on LOC | $ (1,121) | |
Proceeds from sale of stock | $ 8,400 | |
Borrowings on note payable | $ 285,000 | $ 80,000 |
Proceeds from note payable - RP | $ 740,158 | |
Principal payments on debt - Convertible | $ (10,000) | |
Principal payments on debt | (259,468) | $ (376,976) |
Net Cash Provided by Financing Activities | 23,932 | 442,061 |
Net Increase (Decrease) in Cash | 62,503 | (12,293) |
Cash at Beginning of Period | 130,162 | 27,860 |
Cash at End of Period | 192,665 | 18,472 |
NON-CASH INVESTING & FINANCING ACTIVITIES | ||
Conversion of debt | 159,901 | 696,373 |
CASH PAID FOR | ||
Interest | 165,038 | 102,176 |
Income Taxes | $ 800 | $ 800 |
ORGANIZATION AND DESCRIPTION OF
ORGANIZATION AND DESCRIPTION OF BUSINESS | 6 Months Ended |
Sep. 30, 2015 | |
ORGANIZATION AND DESCRIPTION OF BUSINESS [Abstract] | |
ORGANIZATION AND DESCRIPTION OF BUSINESS | NOTE 1 - ORGANIZATION AND DESCRIPTION OF BUSINESS The financial statements presented are those of PCS Edventures!.com, Inc., an Idaho corporation (PCS or the Company). In October 1994, PCS exchanged common stock on a one-for-one basis for common stock of PCS Schools, Inc. As a result of this exchange, PCS Schools, Inc. became a wholly-owned subsidiary of PCS. In the late 1990s, the Company divested the stand-alone learning labs to focus on the creation of turn-key lab modules coupled with web-based technology for use in the classroom and afterschool programs. On March 27, 2000, PCS changed its name from PCS Education Systems, Inc. to PCS Edventures!. com, Inc. In August 2001, PCS successfully completed an offering public pursuant to an SB-2 Registration Statement and began trading publicly on the OTC Bulletin Board (OTCBB). On November 30, 2005, PCS entered into an agreement with 511092 N.B. LTD., a Canadian corporation (LabMentors), to exchange PCS common stock for common stock of 511092 N.B. LTD., which exchange was completed in December, 2005, with LabMentors becoming a wholly-owned subsidiary. In December 2005, the name of this subsidiary was formally changed to PCS LabMentors, Ltd. (See Note 17) The Company divested LabMentors in August of 2013. In January, 2012, the Company committed to a business plan enhancement, which included the opening, operating, and licensing of EdventuresLab private learning centers and launched a pilot program in the spring of 2012. As of June 30, 2014, two EdventuresLab programs had been opened and were operating in the Idaho Treasure Valley. On January 31, 2013, PCS formed a subsidiary called Premiere Science, Inc., incorporated and registered in the State of Idaho. The subsidiary is 100 There were no operations for this subsidiary during the quarter year ended September 30, 201 5 . On September 26, 2014, the shareholders voted for the proposal to grant the Board of Directors the authority to change the name of the Company in a fashion that will remove the .com, but retain the current brand. On July 23, 2015, the Board of Directors resolved that the name of the Company be changed to PCS Edventures!, Inc. No amendment to the Company's Articles of Incorporation has yet been filed, though it is anticipated that following the assignment of a new Cusip Number and the required filing with the Financial Industry Regulatory Authority, that this name change will become effective. |
UNAUDITED FINANCIAL STATEMENTS
UNAUDITED FINANCIAL STATEMENTS | 6 Months Ended |
Sep. 30, 2015 | |
UNAUDITED FINANCIAL STATEMENTS [Abstract] | |
UNAUDITED FINANCIAL STATEMENTS | NOTE 2 - UNAUDITED FINANCIAL STATEMENTS The September 30, 201 5 , 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 Company's 5 . Certain items for March 31, 2015 have been reclassified to conform to presentation in the second quarter ended September 30, 2015. The operating results for interim periods are not necessarily indicative of the results for the entire year. |
GOING CONCERN
GOING CONCERN | 6 Months Ended |
Sep. 30, 2015 | |
GOING CONCERN [Abstract] | |
GOING CONCERN | NOTE 3 - GOING CONCERN The Company's 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. The ability of the Company to continue as a going concern is dependent upon its ability to increase revenue, to raise capital as needed, to continue to monitor and reduce overhead costs, and to attain profitable operations. The accompanying consolidated financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern. |
SUMMARY OF SIGNIFICANT ACCOUNTI
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 6 Months Ended |
Sep. 30, 2015 | |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract] | |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | NOTE 4 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES a. Concentration of Credit Risk The Company extends credit to customers and is therefore subject to credit risk. The Company performs initial and ongoing credit evaluations of its customers' financial condition and does not require collateral. An allowance for doubtful accounts is recorded to account for potential bad debts. Estimates are used in determining the allowance for doubtful accounts and are based upon an assessment of selected accounts and as a percentage of remaining accounts receivable by aging category. In determining these percentages, the Company evaluates historical write-offs, and current trends in customer credit quality, as well as changes in credit policies. At September 30, 2015, Tatweer Company for Educational Services and STEMfinity accounted for 52.5 26.2 |
PREPAID EXPENSES
PREPAID EXPENSES | 6 Months Ended |
Sep. 30, 2015 | |
PREPAID EXPENSES [Abstract] | |
PREPAID EXPENSES | NOTE 5 PREPAID EXPENSES Prepaid expenses for the periods are as follows: September 30, 2015 March 31, 2015 Prepaid insurance $ 34,450 $ 41,372 Prepaid inventory 16,512 50,057 Prepaid software 27,325 10,406 Prepaid expenses, other 2,855 10,869 Total Prepaid Expenses $ 81,142 $ 112,704 |
FIXED ASSETS
FIXED ASSETS | 6 Months Ended |
Sep. 30, 2015 | |
FIXED ASSETS [Abstract] | |
FIXED ASSETS | NOTE 6 - FIXED ASSETS Assets and depreciation for the periods are as follows: September 30, 2015 March 31, 2015 Computer/office equipment $ 43,320 $ 43,320 Software 127,355 127,355 Accumulated depreciation (150,018 ) (144,821 ) Total Fixed Assets $ 20,657 $ 25,854 Fixed asset depreciation expense for the six months ended September 30, 201 5 and 201 4 was $ 14,316 and $ 12,582 , respectively. |
ACCRUED EXPENSES
ACCRUED EXPENSES | 6 Months Ended |
Sep. 30, 2015 | |
ACCRUED EXPENSES [Abstract] | |
ACCRUED EXPENSES | NOTE 7 - ACCRUED EXPENSES Accrued expenses for the periods are as follows: September 30, 2015 March 31, 2015 Interest payable $ 130,854 $ 68,963 Sales tax payable 3,923 634 Credit card debt 61,036 31,685 Professional fees: legal, accounting & other 129 1,654 Total accrued expenses $ 195,942 $ 102,936 |
NOTES PAYABLE
NOTES PAYABLE | 6 Months Ended |
Sep. 30, 2015 | |
NOTES PAYABLE [Abstract] | |
NOTES PAYABLE | NOTE 8 NOTES PAYABLE Notes payable consisted of the following: September 30, 2015 March 31, 2015 Short Term Debt Short Term Convertible Note, Related Party net discount of $ 3,723 24,063 $ 196,277 $ 175,937 Short Term Note Payable, Related Party, net discount of $ 0 $ 38,184 1,467,679 1,389,495 Total Short Debt 1,663,956 1,565,432 Long Term Debt Long Term 14,845 18,117 Line of Credit 19,458 21,708 Long Term Note Payable, Related Party 116,348 130,540 Long Term Convertible Note 90,696 202,729 Long Term Convertible Note, Related Party - 34,011 241,347 407,105 Less current portion (132,626 ) - Total Long Term Debt, less current portion $ 108,721 $ 407,105 Long Term Note Payable On May 1, 2014, the Company entered into a 36 month note payable of $ 2 0,000 . The note bears interest at 12 5,155 14,845 5, was $ 1,973 . 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 8.75 5 , the Company has paid $ 19,592 in principal leaving a balance of $ 19,458 payable. Related Party Debt a. Short term note payable On October 21, 2014, the Company executed a Promissory Note with one of our shareholders and board members in the amount of $ 870,457 was partially taken out to finance operations and inventory purchases and was partly a combination of the renewal of other notes with the same lender. It was due on May 31, 2015, was non-convertible, had an interest rate of 10 On January 1, 2015, accrued interest through December 31, 2014, was rolled into the principal balance per the terms and conditions of the Promissory Note. On January 1, 2015, the Promissory Note principal balance was $ 892,679 66,768 On January 16, 2015, the Company executed a non-convertible promissory note with warrants attached, with one of our shareholders and board members, for $ 400,000 10 June 30, 2015 Company's common 0.35 180 This note was subsequently extended to October 31 November 30, 2015 . The debt discount was calculated as $ 66,717 The remaining $ 38,184 of the debt discount was amortized during the quarter ending June 3 0 , 2015. The principal balance at September 30, 2015, was $ 400,000 Total interest accrued as of September 30 , 2015 was $ 10,082 . On February 17, 2015, the Company executed a promissory note with one of our shareholders and board members, for $ 135,000 10 , and then December 31, 2015 Total interest accrued as of September 30 , 2015 was $ 8,141 On April 20 , 2015 , the Company executed a promissory note with one of our shareholders and board members, for $ 135,000 10 June 30, 2015 , and then December 31, 2015. Principal payments of $ 95,000 40,000 6,029 . b. Short term convertible note payable On October 21, 2014, the Company entered into at 10 200,000 0.04 net of discount at September 30, 2015 196,277 This note was subsequently extended to November 30, 2015 18,849 c. Long term convertible note In 2011, the Company entered into several convertible promissory notes in the aggregate amount of $ 215,000 34,011 0.15 10 5,963 266,492 d. Long term note payable On January 13, 2012, the Company entered into two separate promissory notes in the amount of $ 35,000 70,000 9 1.5 32,100 64,200 nine 9 1,033 17,827 46,373 On April 18, 2012, the Company entered into a long-term promissory note with a person who was then an officer and director of the Company 25,000 7.5 3,005 21,995 On April 11, 2014, the Company entered into a 36 12 The company has paid $ 12,020 in principal, leaving a balance of $ 47,980 at September 30, 201 5 . Total interest accrued as of September 30, 2015, was $ 873 Long Term Convertible Note In 2011, the Company entered into several convertible promissory notes in the aggregate amount of $ 215,000 34,011 0.15 10 226,740 34,011 On July 13, 2015, the holders of four 136,044 23,857 1,066,006 no 90,696 18,139 On April 30, 2013, the Company entered into a loan transaction with an accredited investor for a Promissory Note, payable with interest at 8 5,000 0.20 On July 30, 2013, the Company entered into a loan transaction with an accredited investor for a Promissory Note, payable with interest at 8 5,000 0.20 795 |
NOTE RECEIVABLE
NOTE RECEIVABLE | 6 Months Ended |
Sep. 30, 2015 | |
NOTE RECEIVABLE [Abstract] | |
NOTE RECEIVABLE | NOTE 9 NOTE RECEIVABLE On July 31, 2013, the Company signed a Memorandum of Understanding with a Canadian company owned by Joseph Khoury (JAK) purchase agreement in which JAK shall purchase LabMentors from PCS for USD $ 150,000 liabilities and to pay the remainder of the USD $150,000 through a note payable. The Company note receivable in the amount of $ 50,740 3 be paid over a period of 60 This sale was finalized during the period ending September 30, 2013. On April 14, 2015, JAK informed PCS of the potential closure of LabMentors and an inability to meet its note obligations. LabMentors had made three note payments as of the date of the notification totaling $3,399. The note receivable principal balance at September 30, 2015 was $ 49,513 49,513 |
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES | 6 Months Ended |
Sep. 30, 2015 | |
COMMITMENTS AND CONTINGENCIES [Abstract] | |
COMMITMENTS AND CONTINGENCIES | NOTE 10 - COMMITMENTS AND CONTINGENCIES a. Operating Lease Obligation The Company leases its main office under a non-cancelable lease agreement accounted for as an operating lease. On December 31, 2013 the Company signed an amendment to the existing contract to reduce the leased square feet to 5,412 6,765 3,609 4,511 12 Rent expense including CAM charges for the corporate offices was $ 14,106 and $ 21,196 for the quarters ended September 30 , 201 5 and 201 4 , and $ 77,869 and $ 99,318 for the 12 months ended March 31, 201 5 and 201 4 , respectively, under this lease arrangement. The Company leases additional warehouse space in Boise, Idaho. This warehouse space consists of approximately 2,880 square feet. The lease expired in June 2012. This lease was extended for 24 1400 6,345 and $ 3,975 for the quarters ended September 30 , 2015 and 2014, and $ 16,225 15,901 The Company leased and additional learning lab site in Eagle Idaho in Q1 of fiscal year 2015. The lease term is three 1,050 16,640 1,387 3 b. Litigation Anthony Maher brought suit against PCS in January of 2014 , claiming breach of an employment contract, interference with economic expectancy, and fraud. A s ettlement was agreed in exchange for dismissal of the suit, and release of PCS from any liability to Mr. Maher for any and all claims related to Mr. Maher's employment contract with PCS, PCS issued Mr. Maher 400,000 id Mr. Maher $ 50,000 $ 10,000 2,650 On or about May 18, 2015, t he Company was named as a co-defendant in a legal action related to one of its employees c. Contingencies On October 14, 2015, the Company received a demand letter alleging patent infringement related to certain of our data processing systems. The Company has responded to this demand and has advised the claimed patent owner that the Company does not own the systems claimed to be used by us in this demand. While the Company believes that no such claimed infringement has occurred, we cannot presently evaluate the potential costs that we might incur in regard to defending any legal action brought against us regarding such claims. |
STOCKHOLDERS' EQUITY
STOCKHOLDERS' EQUITY | 6 Months Ended |
Sep. 30, 2015 | |
STOCKHOLDERS' EQUITY [Abstract] | |
STOCKHOLDERS' EQUITY | NOTE 11 - STOCKHOLDERS' EQUITY a. Common Stock During the three months ended September 30, 2015, the Company expensed amounts related to stock options and warrants granted in the current period as well as prior periods valued at $ 1,834 During the three months ended September 30, 2015, a related party one warrant holder exercised 120,000 .07 8,400 120,000 During the three months ended September 30, 2015, the CEO exercised 25,000 19,000 During the three months ended September 30, 2015, the Company issued 200,000 0.11 22,000 During the three months ended September 30, 2015, the Company accrued $ 10,140 78,000 0.13 During the three months ending September 30, 201 5 , $ 10,730 has been accrued in Restricted Stock Units for the issue of 165,082 that will be issued in future periods. Each Restricted Stock Unit was valued at $ 0.065 The t otal amount recorded in stock payable as of September 30, 201 5, for deferred RSU's and other services wa s $ 20,140 . During the three months ended September 30, 2015, the holders of four 159,901 1,066,006 During the six months ending September 30, 201 5 , the Company expensed amounts related to stock options and warrants granted in the current period as well as prior periods valued at $ 5,381 . During the six months ended September 30, 201 5 , the Company accrued $ 18,980 payable in Restricted Stock Units to its non-management directors. Each Restricted Stock Unit was valued at $ 0.065 These agreements call for payment of current year director fees via issuance of Restricted Stock Units, required continued service through September 30, 2015, and re-election at the September 25, 2015, annual shareholder meeting. The Restricted Stock Units were revalued to $ 0.15 50,248 5 , $ 81,345 has been accrued for director services and recorded in stock payable. b. Preferred Stock The Company has 20,000,000 5 , there are no preferred shares issued or outstanding. |
BASIC AND DILUTED NET LOSS PER
BASIC AND DILUTED NET LOSS PER COMMON SHARE | 9 Months Ended |
Sep. 30, 2015 | |
BASIC AND DILUTED NET LOSS PER COMMON SHARE [Abstract] | |
BASIC AND DILUTED NET LOSS PER COMMON SHARE | NOTE 12 - BASIC AND DILUTED NET LOSS PER COMMON SHARE Basic net loss per common share for the three month periods ended September 30, 2015, and 2014, are based on 74,917,541 60,843,159 74,365,634 60,825,672 For the Three Months Ended For the Six Months Ended 2015 2014 2015 2014 Net income per common share: Basic $ (0.00 ) $ (0.01 ) $ (0.00 ) $ (0.02 ) Diluted $ (0.00 ) $ (0.01 ) $ (0.00 ) $ (0.02 ) Weighted Average Number of Shares 74,917,541 60,843,159 74,356,534 60,825,672 |
DILUTIVE INSTRUMENTS
DILUTIVE INSTRUMENTS | 6 Months Ended |
Sep. 30, 2015 | |
DILUTIVE INSTRUMENTS [Abstract] | |
DILUTIVE INSTRUMENTS | NOTE 13 - DILUTIVE INSTRUMENTS Stock Options and Warrants The Company is required to recognize expense of options or similar equity instruments issued to employees using the fair-value-based method of accounting for stock-based payments in compliance with the financial accounting standard pertaining to share-based payments. This standard covers a wide range of share-based compensation arrangements including share options, restricted share plans, performance-based awards, share appreciation rights, and employee share purchase plans. Application of this standard requires significant judgment regarding the assumptions used in the selected option pricing model, including stock price volatility and employee exercise behavior. Most of these inputs are either highly dependent on the current economic environment at the date of grant or forward-looking over the expected term of the award. Issued Cancelled Executed Total Issued Exercisable Not Balance as of March 31, 2015 29,856,655 16,144,450 9,722,210 3,989,995 3,634,995 355,000 Warrants - - - - - - Common Stock Options 375,000 274,638 145,000 (44,638 ) 345,903 (195,000 ) Balance as of September 30, 2015 30,231,655 16,419,088 9,867,210 3,945,357 3,785,357 160,000 On July 14, 2015, the Company CEO converted 25,000 19,000 The Board of Directors resolved on July 15, 2015, to increase the Company authorized common stock from 90,000,000 no 100,000,000 no January 1 , 2014, the Company granted 40,000 three These options were issued as incentive compensation to the employee s 259.07 0.26 0.76 17,726 three .05 0.6 As of September 30 , 2014 , $ 10,803 of the total value was expensed. $ 2,530 was expensed in the six months ending September 30, 201 5 . February 1, 2014, the Company granted 40,000 one These options were issued as incentive compensation to the employee 258.20 0.41 0.64 4,107 . The options vest over a three .05 0.6 September 30 , 201 5 , $ 2,389 of the total value was expensed. $ 690 was expensed in the six months ending September 30, 201 5 . On May 15, 2012, the Company granted 850,000 incentive stock options to an officer, Robert Grover 223.62 A risk free interest rate of 0.38 The options were valued using the Black-Scholes valuation model. The total value of this option was $ 44,495 The options vest over a three 0.06 entire value of the options was expensed. $ 2,161 was expensed in the six months ending September 30, 2015. Warrants On July 30, 2015, 120,000 .07 8,400 120,000 |
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS | 6 Months Ended |
Sep. 30, 2015 | |
SUBSEQUENT EVENTS [Abstract] | |
SUBSEQUENT EVENTS | NOTE 14 - SUBSEQUENT EVENTS On January 16, 2015, the Company executed a non-convertible promissory note with warrants attached, with one of our shareholders and board members, for $ 400,000 10 June 30, 2015 November 30, 2015 On October 13, 2015, PCS filed a Summons and Complaint against Ty Jacobsen (Ada County Case No. CV OC 1517581) in the Idaho Fourth Judicial District Court. The parties to the suit are PCS Edventures!, Inc., plaintiff, v. Ty Jacobsen d/b/a Jacobsen Enterprises, defendant. Our claims primarily involve defamation, breach of contract and injunctive relief. Through the Complaint, PCS alleges Jacobsen violated the terms of his Consulting Agreement, which included a non-disparagement agreement, by publishing false and defamatory material in a Facebook forum and on his Twitter feed, along with making defamatory statements to other PCS investors or potential investors. On October 21, 2014, the Company executed a promissory note with one of our shareholders and board members in the amount of $ 870,457 10 May 31, 2015 September 30, 2015 November 30, 2015 On October 21, 2014, the Company entered into at 10 200,000 0.04 September 30, 2015 November 30, 2015 On November 1, 2015, the Board of Directors of PCS Edventures!.com, Inc. (the Company) has accepted the resignation of Britt E. Ide as a member of the board of directors of the Company. There were no disagreements between the Company and Ms. Ide regarding her resignation. Britt E. Ide has no family relationships with anyone at PCS. |
SUMMARY OF SIGNIFICANT ACCOUN21
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policy) | 6 Months Ended |
Sep. 30, 2015 | |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract] | |
Concentration of Credit Risk | a. Concentration of Credit Risk The Company extends credit to customers and is therefore subject to credit risk. The Company performs initial and ongoing credit evaluations of its customers' financial condition and does not require collateral. An allowance for doubtful accounts is recorded to account for potential bad debts. Estimates are used in determining the allowance for doubtful accounts and are based upon an assessment of selected accounts and as a percentage of remaining accounts receivable by aging category. In determining these percentages, the Company evaluates historical write-offs, and current trends in customer credit quality, as well as changes in credit policies. At September 30, 2015, Tatweer Company for Educational Services and STEMfinity accounted for 52.5 26.2 |
PREPAID EXPENSES (Tables)
PREPAID EXPENSES (Tables) | 6 Months Ended |
Sep. 30, 2015 | |
PREPAID EXPENSES [Abstract] | |
Schedule of Prepaid Expenses | September 30, 2015 March 31, 2015 Prepaid insurance $ 34,450 $ 41,372 Prepaid inventory 16,512 50,057 Prepaid software 27,325 10,406 Prepaid expenses, other 2,855 10,869 Total Prepaid Expenses $ 81,142 $ 112,704 |
FIXED ASSETS (Tables)
FIXED ASSETS (Tables) | 6 Months Ended |
Sep. 30, 2015 | |
FIXED ASSETS [Abstract] | |
Schedule of Fixed Assets | September 30, 2015 March 31, 2015 Computer/office equipment $ 43,320 $ 43,320 Software 127,355 127,355 Accumulated depreciation (150,018 ) (144,821 ) Total Fixed Assets $ 20,657 $ 25,854 |
ACCRUED EXPENSES (Tables)
ACCRUED EXPENSES (Tables) | 6 Months Ended |
Sep. 30, 2015 | |
ACCRUED EXPENSES [Abstract] | |
Schedule of Accrued Expenses | September 30, 2015 March 31, 2015 Interest payable $ 130,854 $ 68,963 Sales tax payable 3,923 634 Credit card debt 61,036 31,685 Professional fees: legal, accounting & other 129 1,654 Total accrued expenses $ 195,942 $ 102,936 |
NOTES PAYABLE (Tables)
NOTES PAYABLE (Tables) | 6 Months Ended |
Sep. 30, 2015 | |
NOTES PAYABLE [Abstract] | |
Schedule of Notes Payable | September 30, 2015 March 31, 2015 Short Term Debt Short Term Convertible Note, Related Party net discount of $ 3,723 24,063 $ 196,277 $ 175,937 Short Term Note Payable, Related Party, net discount of $ 0 $ 38,184 1,467,679 1,389,495 Total Short Debt 1,663,956 1,565,432 Long Term Debt Long Term 14,845 18,117 Line of Credit 19,458 21,708 Long Term Note Payable, Related Party 116,348 130,540 Long Term Convertible Note 90,696 202,729 Long Term Convertible Note, Related Party - 34,011 241,347 407,105 Less current portion (132,626 ) - Total Long Term Debt, less current portion $ 108,721 $ 407,105 |
BASIC AND DILUTED NET LOSS PE26
BASIC AND DILUTED NET LOSS PER COMMON SHARE (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
BASIC AND DILUTED NET LOSS PER COMMON SHARE [Abstract] | |
Schedule of earnings per share basic and diluted | For the Three Months Ended For the Six Months Ended 2015 2014 2015 2014 Net income per common share: Basic $ (0.00 ) $ (0.01 ) $ (0.00 ) $ (0.02 ) Diluted $ (0.00 ) $ (0.01 ) $ (0.00 ) $ (0.02 ) Weighted Average Number of Shares 74,917,541 60,843,159 74,356,534 60,825,672 |
DILUTIVE INSTRUMENTS (Tables)
DILUTIVE INSTRUMENTS (Tables) | 6 Months Ended |
Sep. 30, 2015 | |
DILUTIVE INSTRUMENTS [Abstract] | |
Schedule of Stock-Based Payment Awards | Issued Cancelled Executed Total Issued Exercisable Not Balance as of March 31, 2015 29,856,655 16,144,450 9,722,210 3,989,995 3,634,995 355,000 Warrants - - - - - - Common Stock Options 375,000 274,638 145,000 (44,638 ) 345,903 (195,000 ) Balance as of September 30, 2015 30,231,655 16,419,088 9,867,210 3,945,357 3,785,357 160,000 |
ORGANIZATION AND DESCRIPTION 28
ORGANIZATION AND DESCRIPTION OF BUSINESS (Details) | Sep. 30, 2015 |
Premiere Science, Inc. [Member] | |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |
Ownership percentage | 100.00% |
SUMMARY OF SIGNIFICANT ACCOUN29
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Schedule of Major Customer Concentrations) (Details) - Accounts receivable [Member] | 6 Months Ended |
Sep. 30, 2015 | |
Tatweer [Member] | |
Concentration Risk [Line Items] | |
Percentage | 52.50% |
Stemfinity [Member] | |
Concentration Risk [Line Items] | |
Percentage | 26.20% |
PREPAID EXPENSES (Details)
PREPAID EXPENSES (Details) - USD ($) | Sep. 30, 2015 | Mar. 31, 2015 |
PREPAID EXPENSES [Abstract] | ||
Prepaid insurance | $ 34,450 | $ 41,372 |
Prepaid inventory | 16,512 | 50,057 |
Prepaid software | 27,325 | 10,406 |
Prepaid expenses, other | 2,855 | 10,869 |
Total Prepaid Expenses | $ 81,142 | $ 112,704 |
FIXED ASSETS (Details)
FIXED ASSETS (Details) - USD ($) | 6 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Mar. 31, 2015 | |
Property, Plant and Equipment [Line Items] | |||
Accumulated depreciation | $ (150,018) | $ (144,821) | |
Total Fixed Assets | 20,657 | 25,854 | |
Depreciation expense | 14,316 | $ 12,582 | |
Computer/office equipment [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Fixed Assets | 43,320 | 43,320 | |
Software [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Fixed Assets | $ 127,355 | $ 127,355 |
ACCRUED EXPENSES (Details)
ACCRUED EXPENSES (Details) - USD ($) | Sep. 30, 2015 | Mar. 31, 2015 |
ACCRUED EXPENSES [Abstract] | ||
Interest payable | $ 130,854 | $ 68,963 |
Sales tax payable | 3,923 | 634 |
Credit card debt | 61,036 | 31,685 |
Professional fees: legal, accounting & other | 129 | 1,654 |
Total accrued expenses | $ 195,942 | $ 102,936 |
NOTES PAYABLE (Notes Payable an
NOTES PAYABLE (Notes Payable and Line of Credit) (Details) - USD ($) | Jul. 13, 2015 | Apr. 20, 2015 | Jan. 16, 2015 | May. 01, 2014 | Apr. 11, 2014 | Jun. 30, 2015 | Sep. 30, 2015 | Sep. 30, 2014 | Oct. 01, 2015 | Mar. 31, 2015 | Feb. 17, 2015 | Jan. 02, 2015 | Oct. 21, 2014 | May. 01, 2013 | Apr. 02, 2013 | Apr. 18, 2012 | Jan. 13, 2012 | Sep. 13, 2011 | Mar. 31, 2011 |
Debt Instrument [Line Items] | |||||||||||||||||||
Notes payable, long term | $ 14,845 | $ 18,117 | |||||||||||||||||
Accrued interest payable | 130,854 | 68,963 | |||||||||||||||||
Amortization of Debt Discount (Premium) | 58,524 | $ 320,267 | |||||||||||||||||
Conversion of convertible notes into common stock | 69,228 | ||||||||||||||||||
Principal balance | 90,696 | $ 202,729 | |||||||||||||||||
Long term convertible note [Member] | |||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||
Interest rate | 10.00% | ||||||||||||||||||
Debt conversion, price per share | $ 0.15 | ||||||||||||||||||
Conversion of convertible notes into common stock | $ 5,963 | ||||||||||||||||||
Conversion of convertible notes into common stock, shares | 266,492 | ||||||||||||||||||
Board member and shareholder [Member] | |||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||
Interest rate | 10.00% | ||||||||||||||||||
Accrued interest payable | 18,849 | ||||||||||||||||||
Note payable amount | $ 200,000 | ||||||||||||||||||
Principle balance | 196,277 | ||||||||||||||||||
Debt conversion, price per share | $ 0.04 | ||||||||||||||||||
Long Term Note Payable [Member] | |||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||
Maturity period | 36 months | ||||||||||||||||||
Notes payable, long term | $ 20,000 | 14,845 | |||||||||||||||||
Interest rate | 12.00% | ||||||||||||||||||
Payment of notes payable | 5,155 | ||||||||||||||||||
Accrued interest payable | 1,973 | ||||||||||||||||||
Separate Promissory Notes [Member] | |||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||
Interest rate | 9.00% | 9.00% | |||||||||||||||||
Note payable amount | $ 64,200 | $ 70,000 | |||||||||||||||||
Principal paid | 17,827 | ||||||||||||||||||
Principle balance | 46,373 | ||||||||||||||||||
Minimum monthly payment, percent of loan balances | 1.50% | ||||||||||||||||||
Payments made | $ 1,033 | ||||||||||||||||||
Separate Promissory Notes, Note One [Member] | |||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||
Interest rate | 9.00% | 9.00% | |||||||||||||||||
Note payable amount | $ 32,100 | $ 35,000 | |||||||||||||||||
Minimum monthly payment, percent of loan balances | 1.50% | ||||||||||||||||||
Separate Promissory Notes Note Two [Member] | |||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||
Interest rate | 9.00% | 9.00% | |||||||||||||||||
Note payable amount | $ 32,100 | $ 35,000 | |||||||||||||||||
Note Payable One [Member] | |||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||
Maturity period | 36 months | ||||||||||||||||||
Interest rate | 12.00% | ||||||||||||||||||
Accrued interest payable | 873 | ||||||||||||||||||
Principal paid | 12,020 | ||||||||||||||||||
Principle balance | 47,980 | ||||||||||||||||||
Line of Credit [Member] | |||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||
Interest rate | 8.75% | ||||||||||||||||||
Line of Credit | 19,458 | $ 39,050 | |||||||||||||||||
Line of Credit, principal payments | 19,592 | ||||||||||||||||||
Anthony A. Maher Promissory Note [Member] | |||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||
Interest rate | 7.50% | ||||||||||||||||||
Note payable amount | $ 25,000 | ||||||||||||||||||
Principal paid | 3,005 | ||||||||||||||||||
Principal balance | 21,995 | ||||||||||||||||||
Promissory Note [Member] | |||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||
Debt Instrument Extended and Rolled | $ 66,768 | $ 892,679 | |||||||||||||||||
Promissory Note [Member] | Long term convertible note [Member] | |||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||
Note payable amount | $ 215,000 | ||||||||||||||||||
Promissory Note Twenty Four [Member] | |||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||
Interest rate | 10.00% | ||||||||||||||||||
Note payable amount | $ 870,457 | ||||||||||||||||||
Promissory Note Twenty Five [Member] | |||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||
Interest rate | 10.00% | ||||||||||||||||||
Accrued interest payable | 8,141 | ||||||||||||||||||
Note payable amount | $ 135,000 | ||||||||||||||||||
Separate promissory notes Note Twenty Six [Member] | |||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||
Interest rate | 10.00% | ||||||||||||||||||
Accrued interest payable | 10,082 | ||||||||||||||||||
Note payable amount | $ 400,000 | ||||||||||||||||||
Debt Instrument, Maturity Date | Jun. 30, 2015 | ||||||||||||||||||
Fair Value Inputs, Discount Rate | 0.35% | ||||||||||||||||||
Fair Value Assumptions, Expected Volatility Rate | 180.00% | ||||||||||||||||||
Unamortized debt discount | $ 66,717 | ||||||||||||||||||
Amortization of Debt Discount (Premium) | $ 38,184 | ||||||||||||||||||
Principle balance | $ 400,000 | ||||||||||||||||||
Separate promissory notes Note Twenty Seven [Member] | |||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||
Interest rate | 10.00% | ||||||||||||||||||
Accrued interest payable | 6,029 | ||||||||||||||||||
Note payable amount | $ 135,000 | ||||||||||||||||||
Debt Instrument, Issuance Date | Apr. 20, 2015 | ||||||||||||||||||
Debt Instrument, Maturity Date | Jun. 30, 2015 | ||||||||||||||||||
Principal paid | 95,000 | ||||||||||||||||||
Principle balance | $ 40,000 | ||||||||||||||||||
Promissory Note Payable to Related Party [Member] | Long term convertible note [Member] | |||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||
Note payable amount | $ 34,011 |
NOTES PAYABLE (Convertible Note
NOTES PAYABLE (Convertible Notes) (Details) | Jul. 13, 2015USD ($)itemshares | Sep. 30, 2015USD ($)shares | Sep. 30, 2015USD ($) | Sep. 30, 2014USD ($) | Mar. 31, 2015USD ($) | Jul. 30, 2013USD ($)$ / shares | Apr. 30, 2013USD ($)$ / shares | Mar. 31, 2011USD ($)$ / shares |
Debt Instrument [Line Items] | ||||||||
Conversion of convertible notes into common stock | $ 69,228 | |||||||
Accrued interest | $ 130,854 | 130,854 | $ 68,963 | |||||
Conversion of notes payable, shares | shares | 1,066,006 | |||||||
Warrants issued for debt | 80,368 | $ 66,080 | ||||||
Principal amount of convertible notes | $ 159,901 | 159,901 | ||||||
Convertible Promissory Notes [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Principle balance | 90,696 | 90,696 | ||||||
Conversion of convertible notes into common stock | $ 23,857 | |||||||
Gain (loss) recognized on conversion of debt | ||||||||
Accrued interest | 18,139 | 18,139 | ||||||
Conversion of notes payable, shares | shares | 1,066,006 | |||||||
Number of convertible notes | item | 4 | |||||||
Principal amount of convertible notes | $ 136,044 | |||||||
Accredited Investor Five [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Note payable amount | $ 5,000 | |||||||
Debt conversion, price per share | $ / shares | $ 0.20 | |||||||
Interest rate | 8.00% | |||||||
Accredited Investor Six [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Note payable amount | $ 5,000 | |||||||
Debt conversion, price per share | $ / shares | $ 0.20 | |||||||
Interest rate | 8.00% | |||||||
Accrued interest | $ 795 | $ 795 | ||||||
Long Term Convertible Promissory Note [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Note payable amount | $ 215,000 | |||||||
Debt conversion, price per share | $ / shares | $ 0.15 | |||||||
Interest rate | 10.00% | |||||||
Principle balance | $ 226,740 | |||||||
Long Term Convertible Promissory Note [Member] | Promissory Note Payable to Related Party [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Note payable amount | 34,011 | |||||||
Principle balance | $ 34,011 |
NOTES PAYABLE (Schedule of Note
NOTES PAYABLE (Schedule of Notes Payable) (Details) - USD ($) | Sep. 30, 2015 | Mar. 31, 2015 |
Short Term Debt | ||
Short Term Convertible Note, Related Party net discount of $3,723 and $24,063 for period ended September 30, 2015 and March 31, 2015, respectively | $ 196,277 | $ 175,937 |
Short Term Note Payable, Related Party, net discount of $0 and $38,184 for period ended September 30, 2015 and March 31, 2015, respectively | 1,467,679 | 1,389,495 |
Total Short Debt | 1,663,956 | 1,565,432 |
Long Term Debt | ||
Long Term Note Payable | 14,845 | 18,117 |
Line of Credit | 19,458 | 21,708 |
Long Term Note Payable, Related Party | 116,348 | 130,540 |
Long Term Convertible Note | $ 90,696 | 202,729 |
Long Term Convertible Note, Related Party | 34,011 | |
Long Term Debt | $ 241,347 | $ 407,105 |
Less current portion | (132,626) | |
Total Long Term Debt, less current portion | 108,721 | $ 407,105 |
Short Term Convertible Note, discount | 3,723 | 24,063 |
Short Term Note Payable, Related Party, net discount | $ 0 | $ 38,184 |
NOTE RECEIVABLE (Details)
NOTE RECEIVABLE (Details) - USD ($) | 6 Months Ended | |
Sep. 30, 2013 | Sep. 30, 2015 | |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||
Note receivable | $ 50,740 | |
Note receivable principle balance | $ 49,513 | |
Note receivable allowance balance | $ 49,513 | |
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 |
COMMITMENTS AND CONTINGENCIES (
COMMITMENTS AND CONTINGENCIES (Narrative) (Details) | Feb. 01, 2015USD ($)ft² | Jul. 09, 2014USD ($)shares | Sep. 30, 2015USD ($) | Sep. 30, 2014USD ($) | Jun. 30, 2014USD ($)ft² | Dec. 31, 2014 | Mar. 31, 2015USD ($) | Mar. 31, 2014USD ($)ft² | Apr. 15, 2015ft² |
Operating Leased Assets [Line Items] | |||||||||
Operating Leases, Rent Expense | $ 4,511 | $ 14,106 | $ 21,196 | ||||||
Operating lease, term | 12 months | ||||||||
Area of property leased | ft² | 3,609 | 5,412 | |||||||
Future operating lease, monthly payment to be reduced | $ 6,765 | ||||||||
Breach of an Employment Contract [Member] | |||||||||
Operating Leased Assets [Line Items] | |||||||||
Shares of the common stock that will be issued Mr. Maher | shares | 400,000 | ||||||||
Amount paid to Mr. Maher | $ 50,000 | ||||||||
Settlement expense | 10,000 | ||||||||
Mediation fees | $ 2,650 | ||||||||
Building [Member] | |||||||||
Operating Leased Assets [Line Items] | |||||||||
Operating Leases, Rent Expense | $ 77,869 | 99,318 | |||||||
Warehouses [Member] | |||||||||
Operating Leased Assets [Line Items] | |||||||||
Operating Leases, Rent Expense | $ 6,345 | $ 3,975 | $ 16,225 | $ 15,901 | |||||
Operating lease, term | 24 months | ||||||||
Foot Bay [Member] | |||||||||
Operating Leased Assets [Line Items] | |||||||||
Area of property leased | ft² | 1,400 | ||||||||
Learning Lab Site [Member] | |||||||||
Operating Leased Assets [Line Items] | |||||||||
Operating lease, term | 3 years | ||||||||
Area of property leased | ft² | 1,050 | ||||||||
Annual base rent | $ 16,640 | ||||||||
Growth rate per year (as a percent) | 3.00% | ||||||||
Annual base rent per month | $ 1,387 |
STOCKHOLDERS' EQUITY (Details)
STOCKHOLDERS' EQUITY (Details) | Jan. 11, 2013USD ($)$ / sharesshares | Sep. 30, 2015USD ($)item$ / sharesshares | Sep. 30, 2015USD ($)$ / sharesshares | Sep. 30, 2014USD ($) | Mar. 31, 2015shares |
Stockholders Equity [Line Items] | |||||
Amortization of fair value of stock options | $ | $ 1,834 | $ 5,381 | $ 11,222 | ||
Warrants issued | 120,000 | ||||
Price of warrants issued | $ / shares | $ 0.07 | ||||
Proceeds from issuance of warrants | $ | $ 8,400 | ||||
Shares of restricted common stock issued | 120,000 | ||||
Options exercised | 9,867,210 | 9,722,210 | |||
Value of shares issued for services | $ | $ 33,140 | ||||
Stock on Settlement | $ | $ 22,000 | ||||
Shares reserved for issuance | 165,082 | 165,082 | |||
Total amount recorded in stock payable | $ | $ 20,140 | $ 20,140 | |||
Preferred stock, shares authorized | 20,000,000 | 20,000,000 | 20,000,000 | ||
Preferred stock, shares issued | 0 | 0 | 0 | ||
Preferred stock, shares outstanding | 0 | 0 | 0 | ||
Number of note holders | item | 4 | ||||
Aggregate principal and interest amount converted | $ | $ 159,901 | $ 159,901 | |||
Shares of common stock issued upon aggregate principal and interest amount | 1,066,006 | ||||
Chief Executive Officer [Member] | |||||
Stockholders Equity [Line Items] | |||||
Options exercised | 25,000 | ||||
Shares of restricted common stock issued upon exercise of options | 19,000 | ||||
Shares Issued for Consulting Services One [Member] | |||||
Stockholders Equity [Line Items] | |||||
Shares issued for services | 200,000 | ||||
Fair market price | $ / shares | $ 0.11 | $ 0.11 | |||
Value of shares issued for services | $ | $ 22,000 | ||||
Shares Issued for Consulting Services Two [Member] | |||||
Stockholders Equity [Line Items] | |||||
Shares issued for services | 78,000 | ||||
Fair market price | $ / shares | $ 0.13 | 0.13 | |||
Stock payable accrual during period | $ | $ 10,140 | ||||
Goods and Services Exchanged for Equity Instrument [Member] | |||||
Stockholders Equity [Line Items] | |||||
RSUs, value per share | $ / shares | $ 0.065 | ||||
Stock payable accrual during period | $ | $ 10,730 | ||||
Nonmanagement Directors [Member] | |||||
Stockholders Equity [Line Items] | |||||
RSUs, value per share | $ / shares | 0.065 | ||||
RSUs, revised value per share | $ / shares | $ 0.15 | ||||
Stock payable accrual during period | $ | $ 18,980 | ||||
Stock payable, additional accural | $ | 50,248 | ||||
Stock payable for director services | $ | $ 81,345 | $ 81,345 |
BASIC AND DILUTED NET LOSS PE39
BASIC AND DILUTED NET LOSS PER COMMON SHARE (Details) - $ / shares | 3 Months Ended | 6 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Net income per common share: | ||||
Basic | $ 0 | $ (0.01) | $ 0 | $ (0.02) |
Diluted | $ 0 | $ (0.01) | $ 0 | $ (0.02) |
Weighted average number of common shares outstanding: | ||||
Weighted Average Number of Shares Outstanding, Basic and Diluted | 74,917,541 | 60,843,159 | 74,356,534 | 60,825,672 |
DILUTIVE INSTRUMENTS (Narrative
DILUTIVE INSTRUMENTS (Narrative) (Details) | Jan. 11, 2013USD ($)$ / sharesshares | Sep. 30, 2015$ / sharesshares | Sep. 30, 2015USD ($)$ / sharesshares | Sep. 30, 2014USD ($) | Mar. 31, 2015$ / sharesshares | Mar. 31, 2014USD ($)item$ / sharesshares | Mar. 31, 2013USD ($)$ / sharesshares | Sep. 30, 2015USD ($)$ / sharesshares | Jul. 14, 2015$ / sharesshares |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||
Options exercised | 9,867,210 | 9,722,210 | |||||||
Common stock, shares authorized | 100,000,000 | 100,000,000 | 100,000,000 | 100,000,000 | 90,000,000 | ||||
Common stock, par value per share | $ / shares | |||||||||
Issued | 30,231,655 | 29,856,655 | |||||||
Cancelled | 16,419,088 | 16,144,450 | |||||||
Warrants issued | 120,000 | ||||||||
Price of warrants issued | $ / shares | $ 0.07 | ||||||||
Proceeds from Issuance of Warrants | $ | $ 8,400 | ||||||||
Shares of restricted common stock issued | 120,000 | ||||||||
CEO [Member] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||
Options exercised | 25,000 | ||||||||
Shares of restricted common stock issued upon exercise of options | 19,000 | ||||||||
Transaction One [Member] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||
Issued | 40,000 | ||||||||
Number of employees to whom options were granted | item | 3 | ||||||||
Expected volatility rate | 259.07% | ||||||||
Risk free interest rate, minimum | 0.26% | ||||||||
Risk free interest rate, maximum | 0.76% | ||||||||
Value | $ | $ 17,726 | ||||||||
Vesting period | 3 years | ||||||||
Options expense | $ | $ 2,530 | $ 10,803 | |||||||
Transaction One [Member] | Minimum [Member] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||
Weighted-average exercise price per share, granted | $ / shares | $ 0.05 | ||||||||
Transaction One [Member] | Maximum [Member] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||
Weighted-average exercise price per share, granted | $ / shares | $ 0.6 | ||||||||
Transaction Two [Member] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||
Issued | 40,000 | ||||||||
Number of employees to whom options were granted | item | 1 | ||||||||
Expected volatility rate | 258.20% | ||||||||
Risk free interest rate, minimum | 0.41% | ||||||||
Risk free interest rate, maximum | 0.64% | ||||||||
Value | $ | $ 4,107 | ||||||||
Vesting period | 3 years | ||||||||
Options expense | $ | 690 | $ 2,389 | |||||||
Transaction Two [Member] | Minimum [Member] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||
Weighted-average exercise price per share, granted | $ / shares | $ 0.05 | ||||||||
Transaction Two [Member] | Maximum [Member] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||
Weighted-average exercise price per share, granted | $ / shares | $ 0.6 | ||||||||
Transaction Three [Member] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||
Issued | 850,000 | ||||||||
Expected volatility rate | 223.62% | ||||||||
Risk free interest rate | 0.38% | ||||||||
Value | $ | $ 44,495 | ||||||||
Vesting period | 3 years | ||||||||
Weighted-average exercise price per share, granted | $ / shares | $ 0.06 | ||||||||
Options expense | $ | $ 2,161 |
DILUTIVE INSTRUMENTS (Schedule
DILUTIVE INSTRUMENTS (Schedule of Stock-Based Payment Awards) (Details) - shares | 6 Months Ended | 12 Months Ended |
Sep. 30, 2015 | Mar. 31, 2015 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Issued | 30,231,655 | 29,856,655 |
Cancelled | 16,419,088 | 16,144,450 |
Executed | 9,867,210 | 9,722,210 |
Total Issued and Outstanding | 3,945,357 | 3,989,995 |
Exercisable | 3,785,357 | 3,634,995 |
Not Vested | 160,000 | 355,000 |
Warrants [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Issued | ||
Cancelled | ||
Executed | ||
Total Issued and Outstanding | ||
Exercisable | ||
Not Vested | ||
Common Stock Options [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Issued | 375,000 | |
Cancelled | 274,638 | |
Executed | 145,000 | |
Total Issued and Outstanding | (44,638) | |
Exercisable | 345,903 | |
Not Vested | (195,000) |
SUBSEQUENT EVENTS (Details)
SUBSEQUENT EVENTS (Details) - USD ($) | Jan. 16, 2015 | Oct. 21, 2014 |
Non-convertible promissory note issued on January 16, 2015 [Member] | ||
Subsequent Event [Line Items] | ||
Face amount of debt | $ 400,000 | |
Interest rate | 10.00% | |
Debt Instrument, Maturity Date | Jun. 30, 2015 | |
Debt Instrument, Extended Maturity Date | Nov. 30, 2015 | |
Non-convertible promissory note issued on October 21, 2014 [Member] | ||
Subsequent Event [Line Items] | ||
Face amount of debt | $ 870,457 | |
Interest rate | 10.00% | |
Debt Instrument, Maturity Date | May 31, 2015 | |
Debt Instrument, Extended Maturity Date | Sep. 30, 2015 | |
Debt Instrument, Extended Maturity Date, Two | Nov. 30, 2015 | |
Convertible promissory note issued on October 21, 2014 [Member] | ||
Subsequent Event [Line Items] | ||
Face amount of debt | $ 200,000 | |
Interest rate | 10.00% | |
Market price used for convesion of notes into shares of common stock | $ 0.04 | |
Debt Instrument, Maturity Date | Sep. 30, 2015 | |
Debt Instrument, Extended Maturity Date | Nov. 30, 2015 |