Document_and_Entity_Informatio
Document and Entity Information (USD $) | 12 Months Ended | ||
Mar. 31, 2014 | Jul. 10, 2014 | Sep. 30, 2013 | |
Document And Entity Information | ' | ' | ' |
Entity Registrant Name | 'TAURIGA SCIENCES, INC. | ' | ' |
Entity Central Index Key | '0001142790 | ' | ' |
Document Type | '10-K | ' | ' |
Document Period End Date | 31-Mar-14 | ' | ' |
Amendment Flag | 'false | ' | ' |
Current Fiscal Year End Date | '--03-31 | ' | ' |
Entity Well-known Seasoned Issuer | 'No | ' | ' |
Entity Voluntary Filer | 'No | ' | ' |
Entity Current Reporting Status | 'Yes | ' | ' |
Entity Filer Category | 'Smaller Reporting Company | ' | ' |
Entity Public Float | ' | ' | $9,804,704 |
Entity Common Stock, Shares Outstanding | ' | 707,856,866 | ' |
Document Fiscal Period Focus | 'FY | ' | ' |
Document Fiscal Year Focus | '2014 | ' | ' |
Consoldiated_Balance_Sheets
Consoldiated Balance Sheets (USD $) | Mar. 31, 2014 | Mar. 31, 2013 |
Current assets: | ' | ' |
Cash | $812,907 | $143,034 |
Other receivables | ' | 7,906 |
Investment - available for sale security | 62,500 | ' |
Prepaid expenses | 22,554 | 19,534 |
Total current assets | 897,961 | 170,474 |
Equipment - net | 24,616 | 28,382 |
Other assets: | ' | ' |
Deferred financing fee | 34,014 | ' |
Deferred acquisition costs | 395,823 | ' |
Intangible Assets-Domain Name | 1,791,460 | ' |
TOTAL ASSETS | 3,143,874 | 198,856 |
Current liabilities: | ' | ' |
Notes payable to individuals | 56,425 | 225,000 |
Convertible notes to financial institutions | 263,917 | 106,425 |
Accounts Payable | 294,855 | 277,053 |
Accrued Interest | 26,107 | 8,004 |
Accrued Expenses | 289,930 | 148,348 |
Accrued Professional Fees | 372,939 | 418,668 |
Derivative liability | 1,581,119 | ' |
Total current liabilities | 2,885,292 | 1,183,498 |
Commitments and Contingencies | ' | ' |
Stockholders' equity (deficit) | ' | ' |
Common stock, par value $0.00001; 1,000,000,000 shares authorized, 647,826,316 and 226,449,077 issued and outstanding at March 31, 2014 and 2013, respectively | 6,478 | 2,264 |
Additional paid-in capital | 42,400,884 | 31,000,267 |
Accumulated deficit from prior operations | -16,244,237 | -16,244,237 |
Accumulated deficit during development stage | -25,723,164 | -15,741,675 |
Accumulated other comprehensive loss | -181,379 | -1,261 |
Total stockholders' equity (deficit) | 258,582 | -984,642 |
Total liabilties and stockholders' equity (deficit) | $3,143,874 | $198,856 |
Consoldiated_Balance_Sheets_Pa
Consoldiated Balance Sheets (Parenthetical) (USD $) | Mar. 31, 2014 | Mar. 31, 2013 |
Statement of Financial Position [Abstract] | ' | ' |
Common stock, par value | $0.00 | $0.00 |
Common stock, shares authorized | 1,000,000,000 | 1,000,000,000 |
Common stock, shares issued | 647,449,077 | 226,449,077 |
Common stock, shares outstanding | 647,449,077 | 226,449,077 |
Consolidated_Statements_of_Ope
Consolidated Statements of Operations and Comprehensive Loss (USD $) | 12 Months Ended | 28 Months Ended | |
Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2014 | |
OPERATING EXPENSES | ' | ' | ' |
General and administrative | $6,142,174 | $8,374,216 | $18,283,822 |
Impairment of advances to Immunovative Therapies, Ltd. for future stock ownership | ' | 2,714,050 | 3,533,214 |
Impairment of license agreements | 1,355,988 | ' | 1,355,988 |
Depreciation and amortization expense | 111,304 | 43,919 | 157,891 |
Total operating expenses | 7,609,466 | 11,132,185 | 23,330,915 |
Loss from operations | -7,609,466 | -11,132,185 | -23,330,915 |
Other income (expense) | ' | ' | ' |
Interest expense | -572,571 | -10,506 | -588,981 |
Change in derivative liability | -1,409,877 | ' | -1,409,877 |
Gain (loss) on derivative | -321,000 | ' | -321,000 |
Gain on settlement of law suit | ' | 20,000 | 20,000 |
Amortization of debt discount | -68,575 | -23,816 | -92,391 |
Total other income (expense) | -2,372,023 | -14,322 | -2,392,249 |
Net loss | -9,981,489 | -11,146,507 | -25,723,164 |
Other comprehensive income (loss) | ' | ' | ' |
Change in unrealized loss on available for sale security net of tax effect of zero | -187,500 | ' | -187,500 |
Translation adjustment | 6,121 | 1,261 | 7,382 |
Other Comprehensive Income (Loss) | ($181,379) | $1,261 | ($180,118) |
Net loss per share (basic and diluted) | ' | $0.06 | ' |
Weighted average common shares outstanding Basic and diluted | 349,147,736 | 173,804,597 | ' |
Consolidated_Statement_of_Stoc
Consolidated Statement of Stockholders' Equity (Deficit) (USD $) | Common Stock [Member] | Additional Paid-In Capital [Member] | Deficit Accumulated From Prior Operations [Member] | Deficit Accumulated During The Development Statge [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | Total |
Balance at Dec. 11, 2011 | $829 | $15,602,529 | ($16,244,237) | ' | ($31,157) | ($672,036) |
Balance, shares at Dec. 11, 2011 | 116,667,888 | ' | ' | ' | ' | ' |
Sale of common stock under private placement agreements at $0.05 per share | 66 | 331,150 | ' | ' | ' | 331,150 |
Sale of common stock under private placement agreements at $0.05 per share, shares | 6,624,332 | ' | ' | ' | ' | ' |
Issuance of shares under consulting agreements between $0.10 and $0.14 per shares | 148 | 2,008,152 | ' | ' | ' | 2,008,300 |
Issuance of shares under consulting agreements between $0.10 and $0.14 per share, shares | 14,845,000 | ' | ' | ' | ' | ' |
Issuance of shares in connection with settlement agreements at $0.14 per share | 16 | 199,484 | ' | ' | ' | 199,500 |
Issuance of shares in connection with settlement agreements at $0.14 per share, shares | 1,565,000 | ' | ' | ' | ' | ' |
Vesting of stock based compensation | ' | 137,247 | ' | ' | ' | 137,247 |
Conversion of accrued expenses to common stock | 7 | 77,993 | ' | ' | ' | 78,000 |
Conversion of accrued expenses to common stock, shares | 709,000 | ' | ' | ' | ' | ' |
Issuance of stock options | ' | 1,400,000 | ' | ' | ' | 1,400,000 |
Translation adjustment | ' | ' | ' | -4,595,168 | ' | -4,595,168 |
Conversion of convertible debts to common stock | 100 | 1,013,950 | ' | ' | ' | 1,014,050 |
Conversion of convertible debts to common stock, shares | 10,000,000 | ' | ' | ' | ' | ' |
Net loss for the year ended | ' | ' | ' | ' | 28,914 | 28,914 |
Balance at Mar. 31, 2012 | 1,166 | 20,770,505 | -16,244,237 | -4,595,168 | -2,243 | -69,977 |
Balance, shares at Mar. 31, 2012 | 116,667,888 | ' | ' | ' | ' | ' |
Conversion of accrued expenses to common stock, shares | ' | ' | ' | ' | ' | 43,864,772 |
Translation adjustment | ' | ' | ' | 982 | ' | 1,261 |
Sale of common stock under private placement agreements at $0.10 to $0.15 per share | 489 | 5,190,633 | ' | ' | ' | 519,122 |
Sale of common stock under private placement agreements at $0.10 to $0.15 per share, shares | 48,844,286 | ' | ' | ' | ' | ' |
Amendment to former chief executive officer's employment agreement at $0.10 per share | 25 | 249,975 | ' | ' | ' | 250,000 |
Amendment to former chief executive officer's employment agreement at $0.10 per share, shares | 2,500,000 | ' | ' | ' | ' | ' |
Issuance of shares under consulting contract for strategic planning officer at $0.10 per share | 25 | 249,975 | ' | ' | ' | 250,000 |
Issuance of shares under consulting contract for strategic planning officer at $0.10 per share, shares | 2,500,000 | ' | ' | ' | ' | ' |
Issuance of shares to purchase domain name at $0.125 per share | 2 | 24,998 | ' | ' | ' | 25,000 |
Issuance of shares to purchase domain name at $0.125 per share, shares | 200,000 | ' | ' | ' | ' | ' |
Issuance of shares under consulting contracts at $0.10 to $0.29 per share | 308 | 4,505,881 | ' | ' | ' | 4,506,189 |
Issuance of shares under consulting contracts at $0.10 to $0.29 per share, shares | 30,878,983 | ' | ' | ' | ' | ' |
Issuance of shares to convert Caete Invest & Trade, S.A. debt under conversion agreement | 27 | 225,792 | ' | ' | ' | 225,819 |
Issuance of shares to convert Caete Invest & Trade, S.A. debt under conversion agreement, shares | 2,720,000 | ' | ' | ' | ' | ' |
Conversion of accounts payable at $0.10 per share | 16 | 95,559 | ' | ' | ' | 95,575 |
Conversion of accounts payable at $0.10 per share, shares | 1,592,920 | ' | ' | ' | ' | ' |
Stock issued for commissions under private placement agreements | 53 | 688,947 | ' | ' | ' | 689,000 |
Stock issued for commissions under private placement agreements, shares | 5,335,000 | ' | ' | ' | ' | ' |
Commission expense paid with stock issuances agreements in cash | ' | -689,000 | ' | ' | ' | -689,000 |
Commission paid under private placement agreements in cash | ' | -643,956 | ' | ' | ' | -643,956 |
Issuance of shares to CEO under employment contract for achieving capital raise goal of $7,500,000 at $0.25 per share | 25 | 624,975 | ' | ' | ' | 625,000 |
Issuance of shares to CEO under employment contract for achieving capital raise goal of $7,500,000 at $0.25 per share, shares | 2,500,000 | ' | ' | ' | ' | ' |
Issuance of shares to former CEO under employ-ment contract for achieving capital raise goal of $7,500,000 at $0.25 per share | 25 | 624,975 | ' | ' | ' | 625,000 |
Issuance of shares to former CEO under employ-ment contract for achieving capital raise goal of $7,500,000 at $0.25 per share, shares | 2,500,000 | ' | ' | ' | ' | ' |
Issuance of shares to CEO in lieu of salary at a price of $0.04 to $0.24 per share | 4 | 47,396 | ' | ' | ' | 47,400 |
Issuance of shares to CEO in lieu of salary at a price of $0.04 to $0.24 per share, shares | 360,000 | ' | ' | ' | ' | ' |
Issuance of shares to JMJ Financial to obtain loan at $0.15 per share | 2 | 29,998 | ' | ' | ' | 30,000 |
Issuance of shares to JMJ Financial to obtain loan at $0.15 per share, shares | 200,000 | ' | ' | ' | ' | ' |
Beneficial conversion feature related to JMJ Financial | ' | 92,391 | ' | ' | ' | 92,391 |
Issuance of shares to CEO as signing bonus under employment contract at $0.20 per share | 15 | 299,985 | ' | ' | ' | 300,000 |
Issuance of shares to CEO as signing bonus under employment contract at $0.20 per share, shares | 1,500,000 | ' | ' | ' | ' | ' |
Issuance of shares to CEO as additional compensation at $0.04 per share | 40 | 159,960 | ' | ' | ' | 160,000 |
Issuance of shares to CEO as additional compensation at $0.04 per share, shares | 4,000,000 | ' | ' | ' | ' | ' |
Issuance of shares to CFO under consulting agreement at $0.06 to $0.20 per share | 20 | 246,480 | ' | ' | ' | 246,500 |
Issuance of shares to CFO under consulting agreement at $0.06 to $0.20 per share, shares | 2,000,000 | ' | ' | ' | ' | ' |
Issuance of shares to company attorneys for services rendered at $0.10 to $0.25 per share | 22 | 287,478 | ' | ' | ' | 287,500 |
Issuance of shares to company attorneys for services rendered at $0.10 to $0.25 per share, shares | 2,150,000 | ' | ' | ' | ' | 6,997,501 |
Conversion of convertible debts to common stock | ' | ' | ' | ' | ' | ' |
Consulting contract vesting amortization adjustment | ' | -2,082,680 | ' | ' | ' | -2,082,680 |
Net loss for the year ended | ' | ' | ' | -11,146,507 | ' | -11,146,507 |
Balance at Mar. 31, 2013 | 2,264 | 3,100,267 | -16,244,237 | -15,741,675 | -1,261 | -984,642 |
Balance, shares at Mar. 31, 2013 | 226,449,077 | ' | ' | ' | ' | ' |
Conversion of accrued expenses to common stock | ' | ' | ' | ' | ' | 1,341,305 |
Conversion of accrued expenses to common stock, shares | ' | ' | ' | ' | ' | 191,604,392 |
Translation adjustment | ' | ' | ' | ' | 7,382 | 7,382 |
Issuance of shares to former chief financial officer at $0.02 to $0.07 per share | 9 | 25,891 | ' | ' | ' | 25,900 |
Issuance of shares to former chief financial officer at $0.02 to $0.07 per share, shares | 860,000 | ' | ' | ' | ' | ' |
Issuance of shares for cash at $0.03 to $0.06 per share | 366 | 989,450 | ' | ' | ' | 989,816 |
Issuance of shares for cash at $0.03 to $0.06 per share, shares | 36,644,631 | ' | ' | ' | ' | 36,644,631 |
Issuance of shares to chief executive officer at $0.02 to $0.09 per share | 318 | 995,583 | ' | ' | ' | 995,901 |
Issuance of shares to chief executive officer at $0.02 to $0.09 per share, shares | 31,720,000 | ' | ' | ' | ' | ' |
Issuance of shares to chief operating officer at $0.01 to $0.09 per share | 1,916 | 2,750,220 | ' | ' | ' | 2,752,136 |
Issuance of shares to chief operating officer at $0.01 to $0.09 per share, shares | 191,604,392 | ' | ' | ' | ' | ' |
Issuance of shares to convert convertible debt at $0.01to $0.09 per share | 1,417 | 2,753,964 | ' | ' | ' | 2,755,381 |
Issuance of shares to convert convertible debt at $0.01 to $0.09 per share, shares | 141,700,390 | ' | ' | ' | ' | ' |
Issuance of shares to finalize licensing agreement at $0.04 | 25 | 106,250 | ' | ' | ' | 106,250 |
Issuance of shares to finalize licensing agreement at $0.04, shares | 2,500,000 | ' | ' | ' | ' | ' |
Issuance of shares to settle accounts payable at $0.04 per share | 15 | 59,985 | ' | ' | ' | 60,000 |
Issuance of shares to settle accounts payable at $0.04 per share, shares | 1,500,000 | ' | ' | ' | ' | ' |
Issuance of shares for loan commitment fee at $$0.02 to 0.03 per share | 105 | 254,895 | ' | ' | ' | 255,000 |
Issuance of shares for loan commitment fee at $$0.02 to 0.03 per share, shares | 10,500,000 | ' | ' | ' | ' | ' |
Issuance of shares for available for sale investments at $0.06 per share | 43 | 249,957 | ' | ' | ' | 250,000 |
Issuance of shares for available for sale investments at $0.06 per share, shares | 4,347,826 | ' | ' | ' | ' | ' |
Conversion of convertible debts to common stock | ' | ' | ' | ' | ' | 2,956,101 |
Stock-based compensation vesting | ' | 364,596 | ' | ' | ' | 364,596 |
Strategic alliance warrant valuation | ' | 1,139,851 | ' | ' | ' | 1,139,551 |
Warrants issued to acquire pilus energy LLc | ' | 1,710,000 | ' | ' | ' | 1,710,000 |
Impariment of available for sale securities | ' | ' | ' | ' | -187,500 | -187,500 |
Net loss for the year ended | ' | ' | ' | -9,981,489 | ' | -9,981,489 |
Balance at Mar. 31, 2014 | $6,478 | $42,400,884 | ($16,244,237) | ($25,723,164) | ($181,379) | $258,582 |
Balance, shares at Mar. 31, 2014 | 647,826,316 | ' | ' | ' | ' | ' |
Consolidated_Statement_of_Stoc1
Consolidated Statement of Stockholders' Equity (Deficit) (Parenthetical) (USD $) | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2012 | Mar. 31, 2014 | Mar. 31, 2013 | |
Equity issuance price per share | $0.05 | $0.04 | $0.10 |
Equity issuance price for consulting agreement | $0.14 | ' | $0.10 |
Equity issuance price for purchase domain | ' | ' | $0.13 |
Equity issuance price for employee contract | ' | ' | $0.25 |
Expected additional paid in capital | ' | ' | $7,500,000 |
Equity issuance price for employee contract one | ' | ' | $0.25 |
Expected additional paid in capital one | ' | ' | 7,500,000 |
Equity issuance price for relatedparty obtain loan | ' | ' | $0.15 |
Contribution capital by chief executive officer | ' | $2,500,000 | ' |
Equity issuance for loans commitment fee | ' | $0.03 | ' |
Equity issuance for available for sale | ' | $0.06 | ' |
Minimum [Member] | ' | ' | ' |
Equity issuance price per share | $0.10 | $0.01 | $0.10 |
Equity issuance price for consulting agreement | ' | $0.02 | $0.10 |
Equity Issuance price for lieu of salary | ' | ' | $0.04 |
Equity issuance price for consulting agreement one | ' | ' | $0.06 |
Equity issuance price for service rendered | ' | ' | $0.10 |
Equity issaunce price for chief financial officer one | ' | $0.04 | ' |
Equity issaunce price for chief financial officer two | ' | $0.02 | ' |
Debt Converstion price per share | ' | $0.02 | ' |
Maximum [Member] | ' | ' | ' |
Equity issuance price per share | $0.14 | $0.06 | $0.15 |
Equity issuance price for consulting agreement | ' | $0.09 | $0.29 |
Equity issuance price for employee contract | ' | ' | $0.20 |
Equity Issuance price for lieu of salary | ' | ' | $0.24 |
Equity issuance price for consulting agreement one | ' | ' | $0.20 |
Equity issuance price for service rendered | ' | ' | $0.25 |
Equity issaunce price for chief financial officer one | ' | $0.07 | ' |
Equity issaunce price for chief financial officer two | ' | $0.08 | ' |
Debt Converstion price per share | ' | $0.09 | ' |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (USD $) | 12 Months Ended | 28 Months Ended | |
Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2014 | |
Cash flows from operating activities | ' | ' | ' |
Net loss | ($9,981,489) | ($11,146,507) | ($25,723,164) |
Adjustments to reconcile net loss to cash provided by (used in) operating activities: | ' | ' | ' |
Stock-based compensation | 4,034,370 | 5,244,911 | 12,431,703 |
Shares issued in Settlement Agreement | ' | ' | 153,000 |
Impairment of advances to Immunovative Therapies, Ltd. for future stock ownership | ' | 2,714,050 | 3,533,214 |
Change in derivative liability | 1,409,877 | ' | 1,409,877 |
Note payable discount amortization | 68,575 | 23,816 | 92,391 |
Depreciation and amortization | 111,304 | 43,919 | 157,891 |
Accretion on convertible notes payable | 364,545 | ' | 364,545 |
Impairment of license agreements | 1,355,988 | ' | 1,355,988 |
Amortization of deferred financing costs | 123,986 | ' | 123,986 |
Loss on extinguishment of debt | 321,000 | ' | 321,000 |
Decrease (increase) in assets | ' | ' | ' |
Other receivables | 7,906 | -7,906 | ' |
Prepaid expenses | 21,980 | -7,271 | 19,204 |
Increase (decrease) in liabilities | ' | ' | ' |
Accounts payable | 77,799 | 163,984 | 225,341 |
Accrued interest | 68,889 | -23,596 | 56,741 |
Accrued expenses | 141,582 | 90,764 | 232,470 |
Accrued professional fees | -45,727 | 256,346 | 42,539 |
Related party payables | ' | ' | -96,884 |
Cash used in operating activities | -1,919,415 | -2,647,490 | -5,300,158 |
Cash flows from investing activities | ' | ' | ' |
Purchase of equipment | -5,134 | -2,940 | -28,954 |
Purchase of intangible assets | -293,750 | -7,893 | -301,643 |
Deferred acquisition costs | -395,823 | ' | -395,823 |
Advances to Immunovative Therapies, Ltd. for future stock ownership | ' | -2,714,050 | -3,533,214 |
Cash used in investing activities | -694,707 | -2,724,883 | -4,259,634 |
Cash flows from financing activities | ' | ' | ' |
Proceeds from notes payable | 136,425 | 225,000 | 361,425 |
Repayment of note payable to former chief executive officer | ' | -52,364 | -125,503 |
Payment of financing costs | -23,000 | ' | -23,000 |
Proceeds from the sale of common stock | 989,816 | 5,191,121 | 8,251,293 |
Proceeds from convertible debentures | 2,173,372 | 175,000 | 2,348,372 |
Commisions paid on sale of common stock | ' | -643,956 | -643,956 |
Cash provided by financing activities | 3,276,613 | 4,894,801 | 10,168,631 |
Foreign currency translation effect | 7,382 | 982 | 34,525 |
Net increase / (decrease) in cash | 669,873 | -476,590 | 643,364 |
Cash, beginning of period | 143,034 | 619,917 | 169,543 |
Cash, end of period | 812,907 | 143,034 | 812,907 |
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION: | ' | ' | ' |
Interest Paid | ' | 34,102 | 34,102 |
Taxes Paid | ' | ' | 0 |
NON CASH ITEMS | ' | ' | ' |
Conversion of accounts payable to common stock | 60,000 | 95,559 | 159,559 |
Conversion of note payable-Caete Invest & Trade, S.A. to common stock | ' | 179,572 | 179,572 |
Issuance of common stock to settle commissions on private placement offering | ' | 689,000 | 689,000 |
Conversion of accrued interest on Caete Invest & Trade, S.A. to common stock | ' | 46,247 | 46,247 |
Purchase of intangible asset-domain with commons stock | ' | 25,000 | 25,000 |
Conversion of convertible debentures to common stock | 2,607,759 | ' | 2,607,759 |
Conversion of accrued interest to common stock | 50,786 | ' | 50,786 |
Purchase of Intagible assets with common stock | 2,956,101 | ' | 2,956,101 |
Issuance of common stock for investment in available for sale security | 250,000 | ' | 250,000 |
Issuance of common stock for deferred financing costs | 135,000 | ' | 135,000 |
Impairment of available for sale security | $187,500 | ' | $187,500 |
Nature_of_Business_and_Going_C
Nature of Business and Going Concern | 12 Months Ended |
Mar. 31, 2014 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' |
Nature of Business and Going Concern | ' |
NOTE 1 - NATURE OF BUSINESS AND GOING CONCERN | |
Nature of Business | |
The Company, prior to December 12, 2011, was involved in the business of exploiting new technologies for the production of clean energy. The Company is now moving in the direction of a diversified biotechnology company. The mission of the company is to acquire a diversified portfolio of biotechnological technologies. | |
In May 2011, the Company had entered into an exclusive memorandum of understanding with Immunovative Therapies, Ltd. (“ITL”) (an Israeli company) whereby the Company would acquire a subsidiary of ITL. On December 12, 2011, the Company terminated this memorandum of understanding and entered into a License Agreement (the “License Agreement”) with ITL, pursuant to which the Company received an immediate exclusive and worldwide license to commercialize all the Licensed Products based on ITL’s current and future patents and a patent in-licensed from the University of Arizona. The license granted covers two experimental products for the treatment of cancer in clinical development called AlloStim TM and Allo Vax TM (“Licensed Products”). On May 8, 2012, the Company changed its name to Immunovative, Inc. to better reflect its new direction on the development and commercialization of the next generation of immunotherapy treatments. | |
On January 8, 2013, the Company received from ITL, a notice by which ITL purported to terminate the License Agreement dated December 9, 2011 between the Company and ITL (the “ITL Notice”), along with alleged damages. It is the Company’s position that ITL breached the License Agreement by delivering the ITL Notice and, that prior to the ITL Notice, the License Agreement was in full force and, on January 17, 2013, and that the Company had complied in all material respects with the License Agreement and therefore the Company believes that there are no damages to ITL. As such, on January 17, 2013, the Company filed a lawsuit against ITL, which included the request for various injunctive relief against ITL for damages stemming from this breach. On February 19, 2013, the Company and ITL entered into a settlement agreement whereby the parties have agreed to the following: (1) the Company will submit a letter to the Court advising the Court that the parties have reached a settlement and that the Company is withdrawing its motion, (2) ITL will pay the Company $20,000, (3) ITL will issue to the Company, ITL’s share capital equivalent to 9% of the issued and outstanding shares of ITL, (4) the Company will change its name and (5) the settling parties agree that the license agreement will be terminated. | |
On March 13, 2013, the Company changed its name to Tauriga Sciences, Inc. to better reflect its new direction. The Company traded under the symbol “TAUG” beginning April 9, 2013. | |
On May 31, 2013, the Company signed a Licensing Agreement with Green Hygienics, Inc. (“GHI”) to enable the Company, on an exclusive basis for North America, to market and sell 100% tree-free, bamboo-based, biodegradable, hospital grade wipes, as well as other similar products. The Company contracted to pay $250,000 for the licensing rights. In addition, the Company issued 4,347,826 shares of its common stock to GHI whereas GHI’s parent company, Green Innovations Ltd. (“GNIN”) has issued the Company 625,000 shares of common stock of GNIN, valued at $250,000. The Company paid $143,730 in cash to GHI and, in lieu of the remaining $106,270 to be paid in cash the Company issued an additional 2,500,000 shares of its common stock for the licensing rights. See Notes 4, 5, and 8. | |
On October 29, 2013, the Company entered into a strategic alliance with Bacterial Robotics, LLC (Bacterial Robotics). Bacterial Robotics owns certain patents and/or other intellectual property related to the development of genetically modified micro-organisms (GMOs) and GMOs tailored to perform one or more specific functions, one such GMO being adopted to clean polluting molecules from wastewater, such GMO being referred herein as the existing BactoBot Technology (the BR Technology). Bacterial Robotics is developing a whitepaper to deliver to the Company for acceptance. Upon acceptance by the Company, the Parties will form a strategic relationship through the formation of a joint venture in which the Company will be the majority and controlling owner which will use the NuclearBot Technology to further the growth of the nuclear wastewater treatment market. The intent is for Bacterial Robotics to issue a 10 year license agreement. In connection with the strategic alliance agreement, the Company issued a warrant to purchase 75,000,000 shares of its common stock valued at $1,100,000 and paid an additional $50,000 in cash. | |
On November 25, 2013, the Company executed a definitive agreement to acquire Pilus Energy, LLC (“Pilus”), a Ohio limited liability company and a developer of alternative cleantech energy platforms using proprietary microbial solutions that creates electricity while consuming polluting molecules from wastewater. Pilus is converging digester, fermenter, scrubber, and other proven technologies into a scalable Electrogenic Bioreactor (“EBR”) platform. This transformative technology is the basis of the Pilus Cell™. The EBR harnesses genetically enhanced bacteria, also known as bacterial robots, or BactoBots™, that remediate water, harvest direct current (“DC”) electricity, and produce economically important gases. The EBR accomplishes this through bacterial metabolism, specifically cellular respiration of nearly four hundred carbon and nitrogen molecules. Pilus’ highly metabolic bacteria are non-pathogenic. Because of the mediated biofilm formation, these wastewater-to-value BactoBots resist heavy metal poisoning, swings of pH, and survive in a 4-to-45 degree Celsius temperature range. Additionally, the BactoBots are anaerobically and aerobically active, even with low BOD/COD. On January 28, 2014, the acquisition was completed. Pilus will be a wholly-owned subsidiary of the Company. As a condition of the acquisition, Pilus will get one seat on the board of directors, and the shareholders of Pilus will receive 100,000,000 shares of common stock of the Company, which represented a fair market value of approximately $2,000,000. In addition, the Company paid Bacterial Robotics, LLC (“BRLLC”), formerly the parent company of Pilus, $50,000 on signing the memorandum of understanding and $50,000 at the time of closing. | |
The Company has concluded that the acquisition of Pilus Energy, LLC is to be treated as the purchase of an asset. | |
On March 26, 2014, the Company announced that its wholly owned subsidiary, Pilus Energy, LLC, has commenced a five-phase, $1,700,000 commercial pilot test with the Environmental Protection Agency utilizing Chicago Bridge and Iron Company’s Federal Services serving as the third-party-contractor through the EPA’s Test and Evaluation Facility. This five phase commercial pilot will include significant testing of the Pilus Energy Electrogenic Bioreactor Synthetic Biology Platform for generating value from wastewater. | |
On March 10, 2014, the Company entered into a definitive agreement to acquire California based Honewood, LLC, a developer of a tropical medicinal cannabis product which is a therapeutic cream that currently sells in numerous dispensaries across the State of California. This definitive agreement is valid for a period of 120 days and the Company has advanced to Honewood approximately $175,000 in cash and incurred legal fees of approximately $178,000 as at March 31, 2014 | |
Going Concern | |
As indicated in the accompanying consolidated financial statements, the Company has incurred net operating losses of $9,981,489 for the year ended March 31, 2014. Since inception of development stage, the Company has incurred net losses of $25,723,114. Management’s plans include the raising of capital through equity markets to fund future operations and cultivating new license agreements or acquiring ownership in medical companies. Failure to raise adequate capital and generate adequate sales revenues could result in the Company having to curtail or cease operations. Additionally, even if the Company does raise sufficient capital to support its operating expenses, acquire new license agreement or ownership interests in medical companies and generate adequate revenues, there can be no assurances that the revenues will be sufficient to enable it to develop business to a level where it will generate profits and cash flows from operations. These matters raise substantial doubt about the Company’s ability to continue as a going concern. However, the accompanying consolidated financial statements have been prepared on a going concern basis, which contemplates the realization of assets and satisfaction of liabilities in the normal course of business. These consolidated financial statements do not include any adjustments relating to the recovery of the recorded assets or the classification of the liabilities that might be necessary should the Company be unable to continue as a going concern. |
Summary_of_Significant_Account
Summary of Significant Accounting Policies | 12 Months Ended |
Mar. 31, 2014 | |
Accounting Policies [Abstract] | ' |
Summary of Significant Accounting Policies | ' |
NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | |
Use of Estimates | |
The preparation of the financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. | |
Consolidated Financial Statements | |
The financial statements include the accounts and activities of Tauriga Sciences, Inc. and its wholly-owned Canadian subsidiary, Tauriga Canada, Inc. (formerly known as Immunovative Canada, Inc.) All inter-company transactions have been eliminated in consolidation. | |
Foreign Currency Translation | |
Commencing with the quarter ended June 30, 2012, the Company considers the U.S. dollar to be its functional currency. Prior to March 31, 2012, the Company considered the Canadian dollar to be its functional currency. Assets and liabilities were translated into U.S. dollars at year-end exchange rates. Statement of operations amounts were translated using the average rate during the year. Gains and losses resulting from translating foreign currency financial statements were included in accumulated other comprehensive gain or loss, a separate component of stockholders’ deficit. | |
Cash Equivalents | |
For purposes of reporting cash flows, cash equivalents include investment instruments purchased with an original maturity of three months or less. At March 31, 2014, the Company had $553,785 and $259,122 in cost at two financial, which needed the FAIC insured limit of $250,000 by $303,785 and 9,122, respectively. | |
Equipment and Depreciation | |
Equipment is stated at cost and is depreciated using the straight line method over the estimated useful lives of the respective assets. Routine maintenance, repairs and replacement costs are expensed as incurred and improvements that extend the useful life of the assets are capitalized. When equipment is sold or otherwise disposed of, the cost and related accumulated depreciation are eliminated from the accounts and any resulting gain or loss is recognized in operations. | |
Intangible Asset | |
Intangible Asset consists of licensing fees and a patent which are stated at cost. Licenses are amortized over the life of the agreement and patents are amortized over the remaining life of the patent at the date of acquisition. | |
Net Loss Per Common Share | |
The Company computes per share amounts in accordance with Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 260 Earnings per Share (“EPS”) which requires presentation of basic and diluted EPS. Basic EPS is computed by dividing the income (loss) available to Common Stockholders by the weighted-average number of common shares outstanding for the period. Diluted EPS is based on the weighted-average number of shares of Common Stock and Common Stock equivalents outstanding during the periods. A fully diluted calculation is not presented since the results would be anti-dilutive. | |
Stock-Based Compensation | |
The Company accounts for Stock-Based Compensation under ASC 718 “Compensation-Stock Compensation”, which addresses the accounting for transactions in which an entity exchanges its equity instruments for goods or services, with a primary focus on transactions in which an entity obtains employee services in share-based payment transactions. ASC 718-10 requires measurement of cost of employee services received in exchange for an award of equity instruments based on the grant-date fair value of the award (with limited exceptions). Incremental compensation costs arising from subsequent modifications of awards after the grant date must be recognized. | |
The Company accounts for stock-based compensation awards to non-employees in accordance with ASC 505-50, Equity-Based Payments to Non-Employees. Under ASC 505-50, the Company determines the fair value of the warrants or stock-based compensation awards granted as either the fair value of the consideration received or the fair value of the equity instruments issued, whichever is more reliably measurable. Any stock options or warrants issued to non-employees are recorded in expense and an offset to additional paid-in capital in shareholders’ equity/(deficit) over the applicable service periods using variable accounting through the vesting dates based on the fair value of the options or warrants at the end of each period. | |
The Company issues stock to consultants for various services. The costs for these transactions are measured at the fair value of the consideration received or the fair value of the equity instruments issued, whichever is more reliably measurable. The value of the common stock is measured at the earlier of (1) the date at which a firm commitment for performance by the counterparty to earn the equity instruments is reached or (2) the date at which the counterparty’s performance is complete. The Company recognizes consulting expense and a corresponding increase to additional paid-in-capital related to stock issued for services. | |
Comprehensive Income | |
The Company has adopted ASC 211-05 effective January 1, 2012 which requires entities to report comprehensive income within a continuous statement of comprehensive income. | |
Comprehensive income is a more inclusive financial reporting methodology that includes disclosure of information that historically has not been recognized in the calculation of net income. | |
Income Taxes | |
The Company accounts for income taxes utilizing the liability method of accounting. Under the liability method, deferred taxes are determined based on differences between financial statement and tax bases of assets and liabilities at enacted tax rates in effect in years in which differences are expected to reverse. Valuation allowances are established, when necessary, to reduce deferred tax assets to amounts that are expected to be realized. | |
Impairment of Long-Lived Assets | |
Long-lived assets, primarily patents, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of the assets might not be recoverable. The Company will perform a periodic assessment of assets for impairment in the absence of such information or indicators. Conditions that would necessitate an impairment assessment include a significant decline in the observable market value of an asset, a significant change in the extent or manner in which an asset is used, or a significant adverse change that would indicate that the carrying amount of an asset or group of assets is not recoverable. For long-lived assets to be held and used, the Company would recognize an impairment loss only if its carrying amount is not recoverable through its undiscounted cash flows and measures the impairment loss based on the difference between the carrying amount and estimated fair value. | |
Research and Development | |
The Company expenses research and development costs as incurred. | |
Fair Value Measurements | |
ASC 820 Fair Value Measurements defines fair value, establishes a framework for measuring fair value in generally accepted accounting principles, and expands disclosure about fair value measurements. | |
The following provides an analysis of financial instruments that are measured subsequent to initial recognition at fair value, grouped into Levels 1 to 3 based on the degree to which fair value is observable: | |
Level 1- fair value measurements are those derived from quoted prices (unadjusted in active markets for identical assets or liabilities); | |
Level 2- fair value measurements are those derived from inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly (i.e. as prices) or indirectly (i.e. derived from prices); and | |
Level 3- fair value measurements are those derived from valuation techniques that include inputs for the asset or liability that are not based on observable market data (unobservable inputs). | |
Financial instruments classified as Level 1 - quoted prices in active markets include cash. | |
These consolidated financial instruments are measured using management’s best estimate of fair value, where the inputs into the determination of fair value require significant management judgment to estimation. Valuations based on unobservable inputs are highly subjective and require significant judgments. Changes in such judgments could have a material impact on fair value estimates. In addition, since estimates are as of a specific point in time, they are susceptible to material near-term changes. Changes in economic conditions may also dramatically affect the estimated fair values. | |
Fair value estimates discussed herein are based upon certain market assumptions and pertinent information available to management as of March 31, 2014. The respective carrying value of certain financial instruments approximated their fair values due to the short-term nature of these instruments. These financial instruments include cash, accounts payable, accrued expenses, notes payable, convertible notes, and amounts due to related parties. | |
Derivative Financial Instruments | |
Derivatives are recorded on the balance sheet at fair value. The conversion features of the convertible debentures are embedded derivatives and are separately valued and accounted for on the balance sheet with changes in fair value recognized during the period of change as a separate component of other income/expense. Fair values for exchange-traded securities and derivatives are based on quoted market prices. The pricing model we use for determining fair value of our derivatives is the Monte Carlo Pricing Model. Valuations derived from this model are subject to ongoing internal and external verification and review. The model uses market-sourced inputs such as interest rates and stock price volatilities. Selection of these inputs involves management’s judgment and may impact net income. During the year ended March 31, 2014, the Company utilized an expected life ranging from 180 days to 360 days based upon the look-back period of its convertible debentures and notes and a volatility in the range of 89% to 172%. | |
Uncertainty in Income Taxes | |
Income taxes are accounted for under the liability method of accounting for income taxes. Under the liability method, future tax liabilities and assets are recognized for the estimated future tax consequences attributable to differences between the amounts reported in the financial statement carrying amounts of assets and liabilities and their respective tax bases. Future tax assets and liabilities are measured using enacted or substantially enacted income tax rates expected to apply when the asset is realized or the liability settled. The effect of a change in income tax rates on future income tax liabilities and assets is recognized in income in the period that the change occurs. Future income tax assets are recognized to the extent that they are considered more likely than not to be realized. | |
ASC 740 “Income Taxes” clarifies the accounting for uncertainty in income taxes recognized in an enterprise’s financial statements. This standard requires a company to determine whether it is more likely than not that a tax position will be sustained upon examination based upon the technical merits of the position. If the more-likely-than-not threshold is met, a company must measure the tax position to determine the amount to recognize in the financial statements. | |
As a result of the implementation of this standard, the Company performed a review of its material tax positions in accordance with recognition and measurement standards established by ASC 740 and concluded that the tax position of the Company does not meet the more-likely-than-not threshold as of March 31, 2014. | |
Recent Accounting Pronouncements | |
In June 2014, the FASB issued Accounting Standards Update (“ASU”) No. 2014-10, “Development Stage Entities (Topic 915): Elimination of Certain Financial Reporting Requirements, Including an Amendment to Variable Interest Entities Guidance in Topic 810, Consolidation” (ASU 2014-10). ASU 2014-10 removes all incremental financial reporting requirements regarding development-stage entities, including the removal of Topic 915 from the FASB Accounting Standards Codification. In addition, ASU 2014-10 adds an example disclosure in Risks and Uncertainties (Topic 275) to illustrate one way that an entity that has not begun planned operations could provide information about risks and uncertainties related to the company’s current activities. ASU 2014-10 also removes an exception provided to development-stage entities in Consolidations (Topic 810) for determining whether an entity is a variable interest entity. Effective with the first quarter of our fiscal year ended March 31, 2015, the presentation and disclosure requirements of Topic 915 will no longer be required. The revisions to Consolidation (Topic 810) are effective the first quarter of our fiscal year ended March 31, 2017. Early adoption is permitted. We have not determined the potential effects on our financial statements. | |
In May 2014, the FASB issued ASU No. 2014-09, “Revenue from Contracts with Customers” (Topic 606) (ASU 2014-09), which supersedes the revenue recognition requirements in ASC Topic 605, “Revenue Recognition”, and most industry-specific guidance. ASU 2014-09 is based on the principle that revenue is recognized to depict the transfer of goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. ASU 2014-09 also requires additional disclosure about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes in judgments and assets recognized from costs incurred to obtain or fulfill a contract. The amendments in ASU 2014-09 will be applied using one of two retrospective methods. The effective date will be the first quarter of our fiscal year ended March 31, 2018. We have not determined the potential effects on our financial statements. | |
There are several other new accounting pronouncements issued or proposed by the FASB. Each of these pronouncements, as applicable, has been or will be adopted by the Company. Management does not believe any of these accounting pronouncements has had or will have a material impact on the Company’s financial position or operating results. | |
Management does not believe any other recently issued but not yet effective accounting pronouncements, if adopted, would have an effect on the accompanying consolidated financial statements. |
Equipment
Equipment | 12 Months Ended | ||||||||||
Mar. 31, 2014 | |||||||||||
Property, Plant and Equipment [Abstract] | ' | ||||||||||
Equipment | ' | ||||||||||
NOTE 3 - EQUIPMENT | |||||||||||
The Company’s equipment is as follows: | |||||||||||
March 31, | March 31, | ||||||||||
2014 | 2013 | Estimated Life | |||||||||
Computer and office equipment | $ | 55,085 | $ | 49,951 | 5 years | ||||||
Less: accumulated depreciation | (30,469 | ) | 21,569 | ||||||||
$ | 24,616 | $ | 28,382 | ||||||||
Depreciation expense was $8,900 and $8,086 for the years ended March 31, 2014 and 2013, respectively. |
Intangible_Assets
Intangible Assets | 12 Months Ended | ||||||||||
Mar. 31, 2014 | |||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ' | ||||||||||
Intangible Assets | ' | ||||||||||
NOTE 4 – INTANGIBLE ASSETS | |||||||||||
License Agreements: | |||||||||||
Immunovative Therapies, Ltd. | |||||||||||
On December 12, 2011, the Company entered into a License Agreement (the “License Agreement”) with Immunovative Therapies, Ltd., an Israeli Corporation (“ITL”), pursuant to which the Company received an immediate exclusive and worldwide license to commercialize all product candidates (the “Licensed Products”) based on ITL’s current and future patents and a patent in-licensed from the University of Arizona. The license granted covers two experimental products for the treatment of cancer in clinical development called AlloStim TM and Allo Vaz TM (“Licensed Products”). | |||||||||||
On January 8, 2013, the Company received from ITL, a notice by which ITL purported to terminate the License Agreement dated December 9, 2011 between the Company and ITL (the “ITL Notice”), along with alleged damages. It is the Company’s position that ITL breached the License Agreement by delivering the ITL Notice and, that prior to the ITL Notice, the License Agreement was in full force and, on January 17, 2013 and that the Company had complied in all material respect with the License Agreement therefore the Company believes that there are no damages to ITL. As such, on January 17, 2013, the Company filed a lawsuit against ITL, which included the request for various injunctive relief against ITL for damages stemming from this breach. On February 19, 2013, the Company and ITL entered into a settlement agreement whereby the parties have agreed to the following: (1) the Company will submit a letter to the Court advising the Court that the parties have reached a settlement and that the Company is withdrawing its motion, (2) ITL will pay the Company $20,000, (3) ITL will issue to the Company, ITL’s share capital equivalent to 9% of the issued and outstanding shares of ITL, (4) the Company will change its name and (5) the settling parties agree that the license agreement will be terminated. No value has been assigned to the ITL shares received, as they are deemed to be worthless. The Company, based upon its evaluation of the ITL financial statement, considered it’s investment in ITL to be impaired as the ITL Company had negative net worth and the funds advanced were being utilized for research, development and testing. | |||||||||||
Green Hygienics, Inc. | |||||||||||
On May 31, 2013, the Company executed a licensing agreement with GHI (see Notes 1 and 8). The Licensing Agreement with GHI will enable the Company, on an exclusive basis for North America, to market and sell 100% tree-free, bamboo-based, biodegradable, hospital grade wipes, as well as other similar products to commercial entities including medical facilities, schools, and more. The Company agreed to pay $250,000 for the licensing rights. In addition, the Company issued 4,347,826 shares of its common stock to GHI whereas GHI’s parent company, Green Innovations Ltd. (“GNIN”) has issued the Company 625,000 shares of common stock of GNIN, valued at $250,000. The terms of the Licensing Agreement provides the equal recognition of profits between the Company and GHI on the sales by the Company. | |||||||||||
The Company has paid $143,730 of the $250,000 licensing fee in cash and issued 2,500,000 shares of its common stock in lieu of the remaining $106,270. The Company amortizes the licensing fee over the five year life of the licensing agreement, and through March 31, 2014 the accumulated amortization amounts to $34,911. At March 31, 2014, the Company determined not to pursue the marketability for the related products and considered the remaining net value to be impaired, recording an impairment charge of $215,089. | |||||||||||
Bacterial Robotics, LLC | |||||||||||
On October 29, 2013, the Company entered into a strategic alliance agreement between the Company and Bacterial Robotics, LLC (the Parties) to develop a relationship for the research and development of the NuclearBot Technology that will be marketed and monetized pursuant to a Definitive Agreement. Accordingly, subject to the terms of this agreement, (a) Bacterial Robotics agrees to develop a whitepaper which may be delivered as a readable electronic file, on the subject of utilizing the NuclearBot Technology in the cleansing of nuclear wastewater created in the operation of a nuclear power plant (the “Whitepaper”), which Bacterial Robotics shall deliver to the Company within ninety (90) days of the agreement, which may be extended upon mutual agreement based upon unexpected complexities, and (b) the parties agree to use commercially reasonable efforts in good faith to (1) identify prospective pilot programs, projects and opportunities for the NuclearBot Technology for the Parties to strategically and jointly pursue, (2) enter into a joint venture, in which the Company will be the majority and controlling owner, for the purpose of (A) marketing and selling products and services utilizing the NuclearBot Technology, (B) sublicensing the NuclearBot Technology and (C) owning all improvements to the NuclearBot Technology, and other inventions and intellectual property, jointly developed by the Parties and (3) negotiate terms and conditions of Definitive Agreements. As consideration for the strategic alliance, the Company issued a $25,000 deposit upon signing the agreement. Additionally, the Company issued a 5 year warrant for up to 75,000,000 shares of the Company’s common stock with a value of $1,139,851 and an additional $25,000 in cash. The Company amortizes the fee of $1,189,851 over the ten year life of the licensing agreement, and through March 31, 2014 the accumulated amortization amounts to $48,952. At March 31, 2014, the Company determined that it was not going to pursue the market nor invest additional capital to fund the commercialization and accordingly, considered the remaining net value to be impaired recording an impairment charge of $1,140,899. | |||||||||||
License agreements consist of the cost of license fees with Green Hygienics, Inc.,(250,000) and Baterial Robotoics, LLC ($1,189,851) which were both determined to be impaired as of March 31, 2014: (see Notes 1, 5 and 8). An analysis of the cost is as follows: | |||||||||||
March 31, | March 31, | ||||||||||
2014 | 2013 | Estimated Life | |||||||||
Licensing fee | $ | 1,439,851 | $ | - | 5 years | ||||||
Less: accumulated amortization | 83,863 | - | |||||||||
1,355,988 | |||||||||||
Net impairment | (1,355,988 | ) | |||||||||
Balance | $ | - | |||||||||
Patents: | |||||||||||
Pilus Energy, LLC | |||||||||||
The Company, through the acquisition of Pilus Energy on January 28, 2014, acquired a patent to develop cleantech energy using proprietary microbiological solution that creates electricity while consuming polluting molecules from wastewater. The cost of the patent and related amortization at March 31, 2014 is as follows: | |||||||||||
Fair Value | Estimated Life | ||||||||||
Cash advanced on signing the memorandum of understanding and closing agreement | $ | 100,000 | 16.5 years | ||||||||
Fair value of the warrant for 100,000,000 shares of the Company’s common stock | 1,710,000 | ||||||||||
Less amortization | 1,810,000 | ||||||||||
18,540 | |||||||||||
Net value of patents at March 31, 2014 | $ | 1,791,460 |
Convertible_Notes_And_Notes_Pa
Convertible Notes And Notes Payable | 12 Months Ended |
Mar. 31, 2014 | |
Debt Disclosure [Abstract] | ' |
Convertible Notes And Notes Payable | ' |
NOTE 5 – CONVERTIBLE NOTES AND NOTES PAYABLE | |
Convertible Notes Payable Institutions | |
During the year ended March 31, 2014, the Company entered into a number (approximately 30) of convertible note debentures and recorded gross proceeds of $2,037,000 with interest rates ranging from 5% to 12%. All of the note agreements have conversion features which allow the note holder to convert the debenture into common stock of the Company. The conversion price which is discounted, is based upon either the lowest trading price for a period ranging between 20 and 25 days prior to the date of the notice of conversion or an average of the pervious 20 to 25 days prior to conversion. Due to the variable characteristic of the notes, the Company has concluded that a derivative liability existed at the date of issuance and accordingly has recorded a derivative liability for each note. The balance of the convertible notes at March 31, 2014 is $263,917 and the related derivative liability is $1,581,119 at March 31, 2014, 61,819,334 shares of common stock were reserved for conversion on these notes. | |
Convertible Notes Payable to Individuals | |
The Company at March 31, 2013 had $56,425 of notes payable to individuals, the notes are convertable into common stock of the company at $0.025 per share. The interest rate is 8% per annum and the notes are unsecured. | |
On October 19, 2012, the Company entered into a one year convertible promissory note agreement for $445,000 with JMJ Financial, a California based institutional investor. The note is non-interest bearing for the first 90 days and subsequent to that, the note has an interest rate of 5% per annum. The note, at the holder’s option, is convertible at $0.15 per share and if the price per share at the time of conversion is greater than $0.15 per share, on average for the previous 25 trading days, the conversion rate shall have a 25% discount, with the minimum price of $0.15 per share. The Company paid an origination fee of 200,000 shares of its common stock to secure the loan. On November 14, 2012, the Company received $150,000 and an additional $25,000 on March 27, 2013. The 25% discount created a beneficial conversion feature at the commitment date aggregating $37,500 representing a discount which is being accreted monthly from the issuance date of the note through maturity and is recorded as additional interest expense. At March 31, 2013, the loan balance is $106.425, net of unamortized discount of $68,575. On June 3, 2014 the Company issued 9,900,000 shares of its common stock to convert the note. Under the terms of the original agreement, approximately 4,125,000 shares were required to be issued. To entice the conversion, the Company issued an additional 5,775,000 shares resulting in a loss on conversion of $321,000. |
Related_Parties
Related Parties | 12 Months Ended |
Mar. 31, 2014 | |
Notes to Financial Statements | ' |
Related Parties | ' |
NOTE 6 – RELATED PARTIES | |
Antonio Treminio, former chief executive officer and chairman of the Company, was a note holder of the Company. On August 2, 2012, the remaining balance of the note payable of $52,364 and the accrued interest of $34,102 was repaid. See Note 6. | |
On May 31, 2013, the Company executed a licensing agreement with GHI (see Notes 1, 4 and 10). The Company’s former CFO, Bruce Harmon, is also the CFO and Chairman of Green Innovations Ltd., the parent company of GHI. |
Stockholders_Equity_Deficit
Stockholders' Equity (Deficit) | 12 Months Ended | ||||||||||||||||
Mar. 31, 2014 | |||||||||||||||||
Equity [Abstract] | ' | ||||||||||||||||
Stockholders' Equity (Deficit) | ' | ||||||||||||||||
NOTE 7 – STOCKHOLDERS’ EQUITY (DEFICIT) | |||||||||||||||||
Common Stock | |||||||||||||||||
During the year ended March 31, 2012, the Company sold for cash under private placement agreements 13,450,000 shares of its common stock at $0.05 per share. | |||||||||||||||||
During the year ended March 31, 2012, the Company issued to various consultants 14,485,000 shares of its common stock at prices ranging between $0.10 and $0.14 per share. These shares were valued at the market price of the stock on the date of the commitment. These consulting agreements were issued to the consultants to assist the Company in developing business strategies, assist in capital introductions, and other mutually agreed upon services. The aggregate value of the shares has been recorded as stock based compensation. | |||||||||||||||||
The Company issued 1,565,000 shares of its common stock in connection with settlement agreements. The shares were valued at $0.14, the value at the date of settlement. | |||||||||||||||||
During the year ended March 31, 2012, the Company converted unpaid rent on the corporate office in the amount of $78,000. Accordingly, 709,090 shares of the Company’s common stock were issued at $0.1098 per share. The rent was payable to a party related to the former chief executive officer. | |||||||||||||||||
On July 11, 2011, the Company converted a $500,000 debenture along with accrued penalties for being in default and accrued unpaid interest into 10,000,000 shares of the Company’s common stock and recognized a loss on extinguishment of $336,836. | |||||||||||||||||
During the year ended March 31, 2012, the Company sold for cash under private placement agreements, 22,853,560 shares of its common stock at an average price of $0.10 per share. | |||||||||||||||||
During the year March 31, 2013, the Company sold for cash under private placement agreements, 48,844,236 shares of its common stock at an average price of $0.10 to $0.15 per share. | |||||||||||||||||
On May 15, 2012, the former chief executive officer’s employment contract was amended to award him an additional 2,500,000 shares of the Company’s common stock at $0.10 per share, the value at the date of commitment. Additionally, his employment contract was amended to award him an additional 2,500,000 shares conditional upon the Company raising a total of $7,500,000 in private placement funds. | |||||||||||||||||
On May 15, 2012, the strategic planning vice president was issued a consulting agreement for 36 months. In connection with the agreement, he was issued 2,500,000 shares of the Company’s common stock and an additional 2,500,000 shares conditional upon the Company raising a total of $7,500,000 in private placement funds. | |||||||||||||||||
The Company issued 200,000 shares of its common stock at $0.125 per share to obtain the rights to a domain name. | |||||||||||||||||
On May 21, 2012, the Company issued 2,720,000 shares of its common stock to convert the Caete Invest & Trade, S.A. debt plus accrued interest. The note principal and accrued interest aggregated $225,819. | |||||||||||||||||
During the course of the year, the Company converted $95,575 of accounts payable to the former CEO for severance by issuing 1,592,920 shares of its common stock at an average price of $0.06 per share. | |||||||||||||||||
On October 19, 2012, the Company issued 200,000 shares of its common stock to obtain a loan at $0.15 per share. | |||||||||||||||||
On August 22, 2012, a signing bonus in the amount of 1,500,000 shares was issued to the chief executive officer in connection with his employment contract. The shares were valued at $0.20 per share, the value at commitment date. | |||||||||||||||||
In December 2012, the board approved the issuance of an additional 4,000,000 shares to the Company’s chief executive officer. The shares were valued at $0.04 per share, the value at the date of commitment. | |||||||||||||||||
In connection with the chief financial officer consulting agreement dated September 1, 2012, and subsequent modification, 2,000,000 shares were awarded at a price ranging from $0.06 to $0.20 per share. | |||||||||||||||||
The Company, during the course of the year, has issued 2,150,000 shares of its common stock at prices ranging from $0.10 to $0.25 per share for legal services. | |||||||||||||||||
Commencing October 2012, the chief executive officer received 360,000 shares (60,000 per month) of the Company’s common stock as salary in lieu of cash. These shares were valued between $0.04 and $0.24 per share. His employment agreement was subsequently modified in December 2012 to begin cash compensation in addition to the 60,000 shares award per month. | |||||||||||||||||
During the year ended March 31, 2013, the Company issued to various consultants 30,128,983 shares of its common stock at prices ranging between $0.10 and $0.29 per share. These shares were valued at the market price of the common stock on the date of commitment. The consulting agreements were issued to the consultants to assist the Company in developing business strategies, assist in capital introductions and other mutually agreed upon services. The aggregate value of the shares has been recorded as stock-based compensation. | |||||||||||||||||
The Company converted $75,000 of accounts payable to consultants at $0.10 per share. Total shares issued were 750,000. | |||||||||||||||||
The Company issued 5,335,000 shares of its common stock and $643,956 in cash as commissions related to the private placement agreements. | |||||||||||||||||
During the year ended December 31, 2013, the Company issued to its current and former chief executive a total of 31,720,000 shares of its common stock at prices ranging from $0.02 to $0.09 per share for services. | |||||||||||||||||
During the year ended March 31, 2014, the Company issued collectively 191,604,392 shares of its common stock at prices ranging from $0.01 to $0.09 per share for the conversion of a $1,341,305 convertible debt. | |||||||||||||||||
During the year ended March 31, 2014, the Company issued to various consultants collectively 141,700,390 shares of its common stock at prices ranging from $0.01 to $0.09 per share. | |||||||||||||||||
During the year ended March 31, 2014, the Company issued 1,500,000 at $0.04 per share in settlement of legal fees. | |||||||||||||||||
During the year ended March 31, 2014, the Company issued 10,500,000 shares at $0.02 to $0.03 per share for a commitment fee relating to a convertible debt arrangement. | |||||||||||||||||
During the year ended March 31, 2014, the Company issued 4,387,826 shares of its common stock to Green Hygienics in connection with a license agreement. | |||||||||||||||||
During the year ended March 31, 2014, the Company issued 2,500,000 shares to fully pay up the Green Hygienics license fee. The shares were valued at $0.04 per share totaling $106,250. | |||||||||||||||||
In connection with the acquisiton of Pilus Energy (See note 4), the Company issued a warrant to purchase 100,000,000 Shares of the Company’s common stock at $0.02 per share. The warrant was valued at $1,710,000 using the the Black-Scholes Pricing Model. | |||||||||||||||||
Issuance of 36,644,631 shares of common stock for cash at prices ranging from $0.03 to $0.06 per share. | |||||||||||||||||
In connection with the strategic licence agreement with Bacterial Robotics, LLC, the Company issued on October 29, 2013 a warrant to acquire up to 75,000,000 Shares of the Company’s Common stock. The Warrant was valued at $1,139,851 utilizing the Black-Scholes option pricing Model. | |||||||||||||||||
Issuance of 860,000 shares to the Company’s former chief financial officer at prices ranging from $0.02 to $0.07 per share. | |||||||||||||||||
In connection with the consulting agreements and the board advisory agreements, the agreements have as part of the compensation arrangements, the following clauses: a) the consultant will be reimbursed for all reasonable out of pocket, b) to the extent the consultant introduces the Company to any sources of equity or debt arrangements, the Company agrees to pay 8% to 10% in cash and 8% to 10% in common stock of the Company of all cash amounts actually received by the Company and 2% for debt arrangements, and c) the Company, in its sole discretion, may make additional cash payments and/or issue additional shares of common stock to the consultant based upon the consultant’s performance. | |||||||||||||||||
Warrants for Common Stock | |||||||||||||||||
The following table summarizes warrant activity for the years ended March 31, 2014 and 2013: | |||||||||||||||||
Weighted | |||||||||||||||||
Weighted- | Average | ||||||||||||||||
Average | Remaining | Aggregate | |||||||||||||||
Exercise | Contractual | Intrinsic | |||||||||||||||
Shares | Price | Term | Value | ||||||||||||||
Outstanding at March 31, 2012 | 394,465 | $ | 0.57 | ||||||||||||||
Granted | -- | -- | |||||||||||||||
Expired | (194,465 | ) | 0.75 | ||||||||||||||
Exercised | -- | -- | |||||||||||||||
Outstanding at March 31, 2013 | 200,000 | 0.4 | 1.38 Years | -- | |||||||||||||
Granted | 175,000,000 | 0.02 | |||||||||||||||
Expired | -- | ||||||||||||||||
Exercised | -- | -- | |||||||||||||||
Outstanding at March 31, 2014 | 175,200,000 | $ | 0.02 | 5.86 Years | 10,050,000 | ||||||||||||
The warrants were valued utilizing the following assumption employing the Black-Scholes Pricing Model: | |||||||||||||||||
Volatility | 168.32% to 244.92% | ||||||||||||||||
Risk-free rate | 1.34% to 0.41% | ||||||||||||||||
Dividend | - | ||||||||||||||||
Expected life of warrants | 5 | ||||||||||||||||
Stock Options | |||||||||||||||||
On February 1, 2012, the Company awarded 5,000,000 options to purchase common shares to its former Chief Executive Officer and 5,000,000 options to purchase common shares to the vice president – strategic planning, currently the Chief Executive Officer. These options vested immediately and were for services performed. The Company recorded stock-based compensation expense of $1,400,000 for the issuance of these options. The following weighted average assumptions were used for Black-Scholes option-pricing model to value these stock options: | |||||||||||||||||
Volatility | 220 | % | |||||||||||||||
Expected dividend rate | - | ||||||||||||||||
Expected life of options in years | 10 | ||||||||||||||||
Risk-free rate | 1.87 | % | |||||||||||||||
The following table summarizes warrant activity for the years ended March 31, 2014 and 2013: | |||||||||||||||||
Weighted | |||||||||||||||||
Weighted- | Average | ||||||||||||||||
Average | Remaining | Aggregate | |||||||||||||||
Exercise | Contractual | Intrinsic | |||||||||||||||
Shares | Price | Term | Value | ||||||||||||||
Outstanding at March 31, 2012 | -- | -- | |||||||||||||||
Granted | 10,000,000 | 0.1 | |||||||||||||||
Expired | -- | ||||||||||||||||
Exercised | -- | -- | |||||||||||||||
Outstanding at March 31, 2013 | 10,000,000 | $ | 0.1 | 8.85 Years | $ | -- | |||||||||||
Granted | -- | -- | |||||||||||||||
Expired | -- | ||||||||||||||||
Exercised | -- | -- | |||||||||||||||
Outstanding at March 31, 2014 | 10,000,000 | $ | 0.1 | 7.85 Years | $ | -- |
Commitments_and_Contingencies
Commitments and Contingencies | 12 Months Ended |
Mar. 31, 2014 | |
Commitments and Contingencies Disclosure [Abstract] | ' |
Commitments and Contingencies | ' |
NOTE 8 – COMMITMENTS AND CONTINGENCIES | |
Legal Matters | |
On January 8, 2013, the Company received from ITL, a notice by which ITL purported to terminate the License Agreement dated December 9, 2011 between the Company and ITL (the “ITL Notice”), along with alleged damages. It is the Company’s position that ITL breached the License Agreement by delivering the ITL Notice and, that prior to the ITL Notice, the License Agreement was in full force and, on January 17, 2013 and that the Company had complied in all material respect with the License Agreement therefore the Company believes that there are no damages to ITL. As such, on January 17, 2013, the Company filed a lawsuit against ITL, which included the request for various injunctive relief against ITL for damages stemming from this breach. On February 19, 2013, the Company and ITL entered into a settlement agreement whereby the parties have agreed to the following: (1) the Company will submit a letter to the Court advising the Court that the parties have reached a settlement and that the Company is withdrawing its motion, (2) ITL will pay the Company $20,000, (3) ITL will issue to the Company, ITL’s share capital equivalent to 9% of the issued and outstanding shares of ITL, (4) the Company will change its name and (5) the settling parties agree that the license agreement will be terminated. | |
Commitments | |
On February 26, 2014, Dr, Stella M. Sung was appointed Chief Executive Officer (“CEO”). Dr. Sung previously served as Chief Operating Officer under a two year employment agreement dated April 15, 2013. In conjunction with her appointment as CEO, the terms of her employment agreement were amended to provide for the following: (i) salary of $8,000 per month for March and April 2014, with a salary increase to $14,000 per month commencing on May 1, 2014 and thereafter; (ii) a one-time $25,000 cash bonus once the Company completes a minimum private placement financing of $750,000; (iii) a monthly restricted share allotment of 150,000 common shares effective May 1, 2014; (iv) a one-time S-8 share allotment of 2,500,000 common shares payable on May 27, 2014 or 90 days subsequent to her appointment as CEO; (v) other customary benefits. | |
On August 22, 2012, the Company entered into an employment agreement with Seth M. Shaw, its then CEO. The agreement provides for annual compensation of $132,000. Mr. Shaw previously elected to forgo cash compensation and receive 60,000 shares of the Company’s common stock on a monthly basis. However, as the only principal officer and director, he decided to take the cash compensation as well. Effective February 26, 2014, Mr Shaw resigned as CEO, Chairman and Officer and was appointed to the position of Vice President, Strategic Planning at which time his employment agreement was amended as follows: (i) salary of $8,000 per month for March and April 2014, with a salary increase to $9,500 per month commencing on May 1, 2014 and thereafter; (ii) a one-time $25,000 cash bonus once the Company completes a minimum private placement financing of $750,000; (iii) a monthly restricted share allotment of 60,000 common shares which continue as under his prior agreement; (iv) other customary benefits. On May 27, 2014 or 90 days subsequent to his resignation as CEO, Mr. Shaw shall be deemed a non-affiliate. | |
On January 31, 2012, the Company entered into a three year lease for its corporate office. This requires a monthly payment of $2,150 per month. Required annual payments are as follows: 2013-$25,800; 2014-$25,800; and 2015-$2,150. The Company and the landlord reached a mutual agreement and terminated the lease. | |
In connection with the Company’s consulting contracts, the Company has commitments for monthly payments of approximately $XX,000 for the ensuing twelve months |
Provision_For_Income_Taxes
Provision For Income Taxes | 12 Months Ended | ||||||||
Mar. 31, 2014 | |||||||||
Income Tax Disclosure [Abstract] | ' | ||||||||
Provision For Income Taxes | ' | ||||||||
NOTE 9 – PROVISION FOR INCOME TAXES | |||||||||
Deferred income taxes are determined using the liability method for the temporary differences between the financial reporting basis and income tax basis of the Company’s assets and liabilities. Deferred income taxes are measured based on the tax rates expected to be in effect when the temporary differences are included in the Company’s tax return. Deferred tax assets and liabilities are recognized based on anticipated future tax consequences attributable to differences between financial statement carrying amounts of assets and liabilities and their respective tax bases. | |||||||||
Deferred tax assets consist of the following at March 31: | |||||||||
2014 | 2013 | ||||||||
Net operating losses | $ | (2,200,000 | ) | $ | (1,200,000 | ) | |||
Derivative liability | 500,000 | - | |||||||
Impairment of assets | 1,800,000 | 1,300,000 | |||||||
Valuation allowance | (4,500,000 | ) | (2,500,000 | ) | |||||
$ | - | $ | - | ||||||
At March 31, 2014, the Company had a U.S. net operating loss carryforward in the approximate amount of $6,700,000 available to offset future taxable income through 2032. The Company established valuation allowances equal to the full amount of the deferred tax assets due to the uncertainty of the utilization of the operating losses in future periods. The Company also has a Canadian carry forward loss which approximates $600,000 and is available to offset future taxable income through 2034. | |||||||||
A reconciliation of the Company’s effective tax rate as a percentage of income before taxes and federal statutory rate for the years ended March 31, 2014 and 2013 is summarized as follows: | |||||||||
2014 | 2013 | ||||||||
Federal statutory rate | (34.0 | )% | (34.0 | )% | |||||
State income taxes, net of federal benefits | (3.3 | ) | (3.3 | ) | |||||
Valuation allowance | 37.3 | 37.3 | |||||||
0 | % | 0 | % |
Investment_Available_for_Sale_
Investment Available for Sale Secuity | 12 Months Ended |
Mar. 31, 2014 | |
Investment Available For Sale Secuity | ' |
Investment Available for Sale Secuity | ' |
NOTE 10 – INVESTMENT AVAILABLE FOR SALE SECURITY | |
The Company’s investment on Green Innovations, Ltd is included within current Assets as it is expected to be realized in cash within one year. The investment is recorded at fair valve with unrealized gains and losses, net of applicable taxes, in Other Comprehensive Income. The Company’s investment in Green Innovations has a cost of $250,000 unrealized loss of $187,500 and a fair valve of $62,500 at March 31, 2014. |
Fair_Value_Measurements
Fair Value Measurements | 12 Months Ended | |||||||||||||
Mar. 31, 2014 | ||||||||||||||
Fair Value Disclosures [Abstract] | ' | |||||||||||||
Fair Value Measurements | ' | |||||||||||||
NOTE 11 – FAIR VALUE MEASUREMENTS | ||||||||||||||
The following summarizes the company’s financial assets and liabilities that are measured at fair value on a recurring basis at March 31, 2014. | ||||||||||||||
Level 1 | Level 2 | Level 3 | Total | |||||||||||
Assets | ||||||||||||||
Investment-available-for-sale security | $ | 62,500 | $ | - | $ | - | $ | 62,500 | ||||||
Liabilities | ||||||||||||||
Derivative Liabilities | - | 1,581,119 | - | $ | 1,581,119 | |||||||||
Subsequent_Events
Subsequent Events | 12 Months Ended |
Mar. 31, 2014 | |
Subsequent Events [Abstract] | ' |
Subsequent Events | ' |
NOTE 12 – SUBSEQUENT EVENTS | |
Subsequent to March 31, 2014, the Company issued 43,864,772 shares in connection with the Conversion of Convertible Notes, 8,093,467 in connection with private placements, 10,550,000 in connection with financing fees, 6,997,501 to consultants, 350,000 to Chief Executive Officer and 180,000 to V.P. Strategic Planning. | |
On April 10, 2014, the Company entered into a securities purchase agreement with Hanover Holdings I, LLC, whereby the investor agreed to release $250,000 to the Company previously held in escrow. | |
On June 24, 2014, the Company entered into a Securities Purchase Agreement with Typenex Co-Investment, LLC (“Typenex”), for the sale of an 8% convertible note in the principal amount of $550,000 (which includes Typenex legal expenses in the amount of $7,500 and a $50,000 original issue discount) for $500,000, consisting of $100,000 paid in cash at closing and four secured promissory notes, aggregating $400,000, bearing interest at the rate of 8% per annum, the first note maturing three days after Typenex receives a letter from the Company’s transfer agent satisfactory to Typenex, in their sole discretion, and the four remaining notes each maturing sixty days following the occurrence of the maturity date (the “Investor Notes”). The Investor Notes may be prepaid, without penalty, all or portion of the outstanding balance along with accrued but unpaid interest at any time prior to maturity. The Company has no obligation to pay Typenex any amounts on the unfunded portion of the note. | |
The Company has successfully completed its acquisition of California-based medicinal cannabis firm Honeywood LLC (“Honeywood”), the formulator for Doc Green’s topical cannabis cream and for other products. Under terms of the completed acquisition agreement, Honeywood will operate as a wholly owned subsidiary of the Company. The final acquisition terms result in stakeholders of Honeywood receiving 15.5% of Tauriga Sciences non-diluted shares of common stock outstanding immediately prior to closing. Honeywood’s principals have the opportunity to collectively earn up to an additional aggregate equal to 10% of Tauriga’s common stock outstanding (utilizing the same initial Closing Date) upon achieving the following gross revenue based milestones: upon the generation and receipt of $2,000,000 USD of gross revenues derived strictly from the sale and licensing of Honeywood’s products, the three Honeywood principals shall each be issued either restricted stock or stock options equal to 1.6666% shares of Common Stock of Tauriga; upon the generation and receipt of an additional $2,000,000 USD ($4,000,000 USD total gross revenues by Honeywood), its three principals shall each be issued an additional 1.6666% shares of Common Stock of Tauriga (each such additional issuance to be set off the outstanding shares immediately prior to the Closing Date). |
2_Summary_of_Significant_Accou
2. Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Mar. 31, 2014 | |
Accounting Policies [Abstract] | ' |
Use of Estimates | ' |
Use of Estimates | |
The preparation of the financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. | |
Consolidated Financial Statements | ' |
Consolidated Financial Statements | |
The financial statements include the accounts and activities of Tauriga Sciences, Inc. and its wholly-owned Canadian subsidiary, Tauriga Canada, Inc. (formerly known as Immunovative Canada, Inc.) All inter-company transactions have been eliminated in consolidation. | |
Foreign Currency Translation | ' |
Foreign Currency Translation | |
Commencing with the quarter ended June 30, 2012, the Company considers the U.S. dollar to be its functional currency. Prior to March 31, 2012, the Company considered the Canadian dollar to be its functional currency. Assets and liabilities were translated into U.S. dollars at year-end exchange rates. Statement of operations amounts were translated using the average rate during the year. Gains and losses resulting from translating foreign currency financial statements were included in accumulated other comprehensive gain or loss, a separate component of stockholders’ deficit. | |
Cash Equivalents | ' |
Cash Equivalents | |
For purposes of reporting cash flows, cash equivalents include investment instruments purchased with an original maturity of three months or less. At March 31, 2014, the Company had $553,785 and $259,122 in cost at two financial, which needed the FAIC insured limit of $250,000 by $303,785 and 9,122, respectively. | |
Equipment and Depreciation | ' |
Equipment and Depreciation | |
Equipment is stated at cost and is depreciated using the straight line method over the estimated useful lives of the respective assets. Routine maintenance, repairs and replacement costs are expensed as incurred and improvements that extend the useful life of the assets are capitalized. When equipment is sold or otherwise disposed of, the cost and related accumulated depreciation are eliminated from the accounts and any resulting gain or loss is recognized in operations. | |
Intangible Assets | ' |
Intangible Asset | |
Intangible Asset consists of licensing fees and a patent which are stated at cost. Licenses are amortized over the life of the agreement and patents are amortized over the remaining life of the patent at the date of acquisition. | |
Net Loss Per Common Share | ' |
Net Loss Per Common Share | |
The Company computes per share amounts in accordance with Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 260 Earnings per Share (“EPS”) which requires presentation of basic and diluted EPS. Basic EPS is computed by dividing the income (loss) available to Common Stockholders by the weighted-average number of common shares outstanding for the period. Diluted EPS is based on the weighted-average number of shares of Common Stock and Common Stock equivalents outstanding during the periods. A fully diluted calculation is not presented since the results would be anti-dilutive | |
Stock-Based Compensation | ' |
Stock-Based Compensation | |
The Company accounts for Stock-Based Compensation under ASC 718 “Compensation-Stock Compensation”, which addresses the accounting for transactions in which an entity exchanges its equity instruments for goods or services, with a primary focus on transactions in which an entity obtains employee services in share-based payment transactions. ASC 718-10 requires measurement of cost of employee services received in exchange for an award of equity instruments based on the grant-date fair value of the award (with limited exceptions). Incremental compensation costs arising from subsequent modifications of awards after the grant date must be recognized. | |
The Company accounts for stock-based compensation awards to non-employees in accordance with ASC 505-50, Equity-Based Payments to Non-Employees. Under ASC 505-50, the Company determines the fair value of the warrants or stock-based compensation awards granted as either the fair value of the consideration received or the fair value of the equity instruments issued, whichever is more reliably measurable. Any stock options or warrants issued to non-employees are recorded in expense and an offset to additional paid-in capital in shareholders’ equity/(deficit) over the applicable service periods using variable accounting through the vesting dates based on the fair value of the options or warrants at the end of each period. | |
The Company issues stock to consultants for various services. The costs for these transactions are measured at the fair value of the consideration received or the fair value of the equity instruments issued, whichever is more reliably measurable. The value of the common stock is measured at the earlier of (1) the date at which a firm commitment for performance by the counterparty to earn the equity instruments is reached or (2) the date at which the counterparty’s performance is complete. The Company recognized consulting expense and a corresponding increase to additional paid-in-capital related to stock issued for services. | |
Comprehensive Income | ' |
Comprehensive Income | |
The Company has adopted ASC 211-05 effective January 1, 2012 which requires entities to report comprehensive income within a continuous statement of comprehensive income. | |
Comprehensive income is a more inclusive financial reporting methodology that includes disclosure of information that historically has not been recognized in the calculation of net income. | |
Income Taxes | ' |
Income Taxes | |
The Company accounts for income taxes utilizing the liability method of accounting. Under the liability method, deferred taxes are determined based on differences between financial statement and tax bases of assets and liabilities at enacted tax rates in effect in years in which differences are expected to reverse. Valuation allowances are established, when necessary, to reduce deferred tax assets to amounts that are expected to be realized. | |
Impairment of Long-Lived Assets | ' |
Impairment of Long-Lived Assets | |
Long-lived assets, primarily Patents, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of the assets might not be recoverable. The Company will perform a periodic assessment of assets for impairment in the absence of such information or indicators. Conditions that would necessitate an impairment assessment include a significant decline in the observable market value of an asset, a significant change in the extent or manner in which an asset is used, or a significant adverse change that would indicate that the carrying amount of an asset or group of assets is not recoverable. For long-lived assets to be held and used, the Company would recognize an impairment loss only if its carrying amount is not recoverable through its undiscounted cash flows and measures the impairment loss based on the difference between the carrying amount and estimated fair value. | |
Research and Development | ' |
Research and Development | |
The Company expenses research and development costs as incurred. | |
Fair Value Measurements | ' |
Fair Value Measurements | |
ASC 820 Fair Value Measurements defines fair value, establishes a framework for measuring fair value in generally accepted accounting principles, and expands disclosure about fair value measurements. | |
The following provides an analysis of financial instruments that are measured subsequent to initial recognition at fair value, grouped into Levels 1 to 3 based on the degree to which fair value is observable: | |
Level 1- fair value measurements are those derived from quoted prices (unadjusted in active markets for identical assets or liabilities); | |
Level 2- fair value measurements are those derived from inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly (i.e. as prices) or indirectly (i.e. derived from prices); and | |
Level 3- fair value measurements are those derived from valuation techniques that include inputs for the asset or liability that are not based on observable market data (unobservable inputs). | |
Financial instruments classified as Level 1 - quoted prices in active markets include cash. | |
These consolidated financial instruments are measured using management’s best estimate of fair value, where the inputs into the determination of fair value require significant management judgment to estimation. Valuations based on unobservable inputs are highly subjective and require significant judgments. Changes in such judgments could have a material impact on fair value estimates. In addition, since estimates are as of a specific point in time, they are susceptible to material near-term changes. Changes in economic conditions may also dramatically affect the estimated fair values. | |
Fair value estimates discussed herein are based upon certain market assumptions and pertinent information available to management as of March 31, 2014. The respective carrying value of certain financial instruments approximated their fair values due to the short-term nature of these instruments. These financial instruments include cash, accounts payable, accrued expenses, notes payable, convertible notes, andamounts due to related parties. | |
Derivative Financial Instruments | ' |
Derivative Financial Instruments | |
Derivatives are recorded on the balance sheet at fair value. The conversion features of the convertible debentures are embedded derivatives and are separately valued and accounted for on the balance sheet with changes in fair value recognized during the period of change as a separate component of other income/expense. Fair values for exchange-traded securities and derivatives are based on quoted market prices. The pricing model we use for determining fair value of our derivatives is the Monte Carlo Pricing Model. Valuations derived from this model are subject to ongoing internal and external verification and review. The model uses market-sourced inputs such as interest rates and stock price volatilities. Selection of these inputs involves management’s judgment and may impact net income. During the year ended March 31, 2014, the Company utilized an expected life nongoing from 180 days to 360 days based upon the look-back period of its convertible debentures and notes and a volatility in the range of 89% to 172%. | |
Uncertainty in Income Taxes | ' |
Uncertainty in Income Taxes | |
Income taxes are accounted for under the liability method of accounting for income taxes. Under the liability method, future tax liabilities and assets are recognized for the estimated future tax consequences attributable to differences between the amounts reported in the financial statement carrying amounts of assets and liabilities and their respective tax bases. Future tax assets and liabilities are measured using enacted or substantially enacted income tax rates expected to apply when the asset is realized or the liability settled. The effect of a change in income tax rates on future income tax liabilities and assets is recognized in income in the period that the change occurs. Future income tax assets are recognized to the extent that they are considered more likely than not to be realized. | |
ASC 740 “Income Taxes” clarifies the accounting for uncertainty in income taxes recognized in an enterprise’s financial statements. This standard requires a company to determine whether it is more likely than not that a tax position will be sustained upon examination based upon the technical merits of the position. If the more-likely-than-not threshold is met, a company must measure the tax position to determine the amount to recognize in the financial statements. | |
As a result of the implementation of this standard, the Company performed a review of its material tax positions in accordance with recognition and measurement standards established by ASC 740 and concluded that the tax position of the Company does not meet the more-likely-than-not threshold as of March 31, 2014. | |
Recent Accounting Pronouncements | ' |
Recent Accounting Pronouncements | |
In June 2014, the FASB issued Accounting Standards Update (“ASU”) No. 2014-10, “Development Stage Entities (Topic 915): Elimination of Certain Financial Reporting Requirements, Including an Amendment to Variable Interest Entities Guidance in Topic 810, Consolidation” (ASU 2014-10). ASU 2014-10 removes all incremental financial reporting requirements regarding development-stage entities, including the removal of Topic 915 from the FASB Accounting Standards Codification. In addition, ASU 2014-10 adds an example disclosure in Risks and Uncertainties (Topic 275) to illustrate one way that an entity that has not begun planned operations could provide information about risks and uncertainties related to the company’s current activities. ASU 2014-10 also removes an exception provided to development-stage entities in Consolidations (Topic 810) for determining whether an entity is a variable interest entity. Effective with the first quarter of our fiscal year ended March 31, 2015, the presentation and disclosure requirements of Topic 915 will no longer be required. The revisions to Consolidation (Topic 810) are effective the first quarter of our fiscal year ended March 31, 2017. Early adoption is permitted. We have not determined the potential effects on our financial statements. | |
In May 2014, the FASB issued ASU No. 2014-09, “Revenue from Contracts with Customers” (Topic 606) (ASU 2014-09), which supersedes the revenue recognition requirements in ASC Topic 605, “Revenue Recognition”, and most industry-specific guidance. ASU 2014-09 is based on the principle that revenue is recognized to depict the transfer of goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. ASU 2014-09 also requires additional disclosure about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes in judgments and assets recognized from costs incurred to obtain or fulfill a contract. The amendments in ASU 2014-09 will be applied using one of two retrospective methods. The effective date will be the first quarter of our fiscal year ended March 31, 2018. We have not determined the potential effects on our financial statements. | |
There are several other new accounting pronouncements issued or proposed by the FASB. Each of these pronouncements, as applicable, has been or will be adopted by the Company. Management does not believe any of these accounting pronouncements has had or will have a material impact on the Company’s financial position or operating results. | |
Management does not believe any other recently issued but not yet effective accounting pronouncements, if adopted, would have an effect on the accompanying consolidated financial statements. |
Equipment_Tables
Equipment (Tables) | 12 Months Ended | ||||||||||
Mar. 31, 2014 | |||||||||||
Property, Plant and Equipment [Abstract] | ' | ||||||||||
Equipment | ' | ||||||||||
The Company’s equipment is as follows: | |||||||||||
March 31, | March 31, | ||||||||||
2014 | 2013 | Estimated Life | |||||||||
Computer and office equipment | $ | 55,085 | $ | 49,951 | 5 years | ||||||
Less: accumulated depreciation | (30,469 | ) | (21,569 | ) | |||||||
$ | 24,616 | $ | 28,382 |
Intangible_Assets_Tables
Intangible Assets (Tables) | 12 Months Ended | |||||||
Mar. 31, 2014 | ||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ' | |||||||
Schedule of License Cost | ' | |||||||
An analysis of the cost is as follows: | ||||||||
March 31, | March 31, | |||||||
2014 | 2013 | Estimated Life | ||||||
Licensing fee | $ | 1,439,851 | $ - | 5 years | ||||
Less: accumulated amortization | 83,863 | -- | ||||||
Net impairment | 1,355,988 | |||||||
(1,355,988 | ) | |||||||
Balance | $ | -- | ||||||
Schedule of Cost of Patent and Related Amortization | ' | |||||||
. The cost of the patent and related amortization at March 31, 2014 is as follows: | ||||||||
Fair Value | Estimated Life | |||||||
Cash advanced on signing the memorandum of understanding | $ | 100,000 | ||||||
and closing agreement | ||||||||
Fair value of the warrant for 100,000,000 shares of the Company’s | 1,710,000 | |||||||
common stock | ||||||||
Less amortization | 1,810,000 | |||||||
18,540 | ||||||||
Net value of patents at March 31, 2014 | $ | 1,791,460 | -- | |||||
Stockholders_Equity_Deficit_Ta
Stockholders' Equity (Deficit) (Tables) | 12 Months Ended | ||||||||||||||||
Mar. 31, 2014 | |||||||||||||||||
Schedule of Warrants Activity | ' | ||||||||||||||||
The following table summarizes warrant activity for the years ended March 31, 2014 and 2013: | |||||||||||||||||
Weighted | |||||||||||||||||
Weighted- | Average | ||||||||||||||||
Average | Remaining | Aggregate | |||||||||||||||
Exercise | Contractual | Intrinsic | |||||||||||||||
Shares | Price | Term | Value | ||||||||||||||
Outstanding at March 31, 2012 | 394,465 | $ | 0.57 | ||||||||||||||
Granted | -- | -- | |||||||||||||||
Expired | (194,465 | ) | 0.75 | ||||||||||||||
Exercised | -- | -- | |||||||||||||||
Outstanding at March 31, 2013 | 200,000 | 0.4 | 1.38 Years | -- | |||||||||||||
Granted | 175,000,000 | 0.02 | |||||||||||||||
Expired | -- | ||||||||||||||||
Exercised | -- | -- | |||||||||||||||
Outstanding at March 31, 2014 | 175,200,000 | $ | 0.02 | 5.86 Years | 10,050,000 | ||||||||||||
Schedule of Stock Options Activity | ' | ||||||||||||||||
The following table summarizes warrant activity for the years ended March 31, 2014 and 2013: | |||||||||||||||||
Weighted | |||||||||||||||||
Weighted- | Average | ||||||||||||||||
Average | Remaining | Aggregate | |||||||||||||||
Exercise | Contractual | Intrinsic | |||||||||||||||
Shares | Price | Term | Value | ||||||||||||||
Outstanding at March 31, 2012 | -- | -- | |||||||||||||||
Granted | 10,000,000 | 0.1 | |||||||||||||||
Expired | -- | ||||||||||||||||
Exercised | -- | -- | |||||||||||||||
Outstanding at March 31, 2013 | 10,000,000 | $ | 0.1 | 8.85 Years | $ | -- | |||||||||||
Granted | -- | -- | |||||||||||||||
Expired | -- | ||||||||||||||||
Exercised | -- | -- | |||||||||||||||
Outstanding at March 31, 2014 | 10,000,000 | $ | 0.1 | 7.85 Years | $ | -- | |||||||||||
Warrant [Member] | ' | ||||||||||||||||
Schedule Pricing Model to Value Stock Options | ' | ||||||||||||||||
The warrants were valued utilizing the following assumption employing the Black-Scholes Pricing Model: | |||||||||||||||||
Volatility | 168.32% to 244.92% | ||||||||||||||||
Risk-free rate | 1.34% to 0.41% | ||||||||||||||||
Dividend | - | ||||||||||||||||
Expected life of warrants | 5 | ||||||||||||||||
Stock Options [Member] | ' | ||||||||||||||||
Schedule Pricing Model to Value Stock Options | ' | ||||||||||||||||
The following weighted average assumptions were used for Black-Scholes option-pricing model to value these stock options: | |||||||||||||||||
Volatility | 220 | % | |||||||||||||||
Expected dividend rate | - | ||||||||||||||||
Expected life of options in years | 10 | ||||||||||||||||
Risk-free rate | 1.87 | % |
Provision_For_Income_Taxes_Tab
Provision For Income Taxes (Tables) | 12 Months Ended | ||||||||
Mar. 31, 2014 | |||||||||
Income Tax Disclosure [Abstract] | ' | ||||||||
Schedule of Deferred Tax Assets | ' | ||||||||
Deferred tax assets consist of the following at March 31: | |||||||||
2014 | 2013 | ||||||||
Net operating losses | $ | (2,200,000 | ) | $ | (1,200,000 | ) | |||
Derivative liability | 500,000 | - | |||||||
Impairment of assets | 1,800,000 | 1,300,000 | |||||||
Valuation allowance | (4,500,000 | ) | (2,500,000 | ) | |||||
$ | - | $ | - | ||||||
Schedule of Percentage of Income Taxes | ' | ||||||||
A reconciliation of the Company’s effective tax rate as a percentage of income before taxes and federal statutory rate for the years ended March 31, 2014 and 2013 is summarized as follows: | |||||||||
2014 | 2013 | ||||||||
Federal statutory rate | (34.0 | )% | (34.0 | )% | |||||
State income taxes, net of federal benefits | (3.3 | ) | (3.3 | ) | |||||
Valuation allowance | 37.3 | 37.3 | |||||||
0 | % | 0 | % |
Fair_Value_Measurements_Tables
Fair Value Measurements (Tables) | 12 Months Ended | |||||||||||||
Mar. 31, 2014 | ||||||||||||||
Fair Value Disclosures [Abstract] | ' | |||||||||||||
Schedule of Fair Value Measurements | ' | |||||||||||||
The following summarizes the company’s financial assets and liabilities that are measured at fair value on a recurring basis at March 31, 2014. | ||||||||||||||
Level 1 | Level 2 | Level 3 | Total | |||||||||||
Assets | ||||||||||||||
Investment-available-for-sale security | $ | 62,500 | $ | - | $ | - | $ | 62,500 | ||||||
Liabilities | ||||||||||||||
Derivative Liabilities | - | 1,581,119 | - | $ | 1,581,119 | |||||||||
Nature_of_Business_and_Going_C1
Nature of Business and Going Concern (Details Narrative) (USD $) | 0 Months Ended | 1 Months Ended | 3 Months Ended | 12 Months Ended | 28 Months Ended | ||||
Nov. 25, 2013 | Oct. 29, 2013 | Feb. 19, 2013 | Oct. 19, 2012 | 31-May-13 | Mar. 31, 2012 | Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2014 | |
Payments form legal settlement by ITL | ' | ' | $20,000 | ' | ' | ' | ' | ' | ' |
Percentage of issued and outstanding shares | ' | ' | 9.00% | ' | ' | ' | ' | ' | ' |
Percentage of products sold | ' | ' | ' | ' | 100.00% | ' | ' | ' | ' |
Payment of licensing rights | ' | ' | ' | ' | 250,000 | ' | 1,355,988 | ' | ' |
Repayments Of related party debt | ' | ' | ' | ' | ' | ' | ' | 52,364 | 125,503 |
Accounts payable current | ' | ' | ' | ' | ' | ' | 294,855 | 277,053 | 294,855 |
Excess of stock issued fo licensing right | ' | ' | ' | ' | 2,500,000 | ' | 36,644,631 | ' | ' |
Issuance warrants to purchase of common stock | ' | ' | ' | 75,000,000 | ' | ' | 75,000,000 | ' | ' |
Common stock value | ' | 1,100,000 | ' | ' | ' | ' | 6,478 | 2,264 | 6,478 |
Additional paid in capital | ' | 5,000 | ' | ' | ' | ' | ' | ' | ' |
License agreement period | ' | '10 years | ' | ' | ' | ' | ' | ' | ' |
Business acquision of common stock | 100,000,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Business acquision fair value | 2,000,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Business acquision description | ' | ' | ' | ' | ' | ' | ' | ' | ' |
. In addition, the Company paid Bacterial Robotics, LLC (“BRLLC”), formerly the parent company of Pilus, $50,000 on signing the memorandum of understanding and $50,000 at the time of closing. | |||||||||
Acquisition costs | ' | ' | ' | ' | ' | ' | 1,700,000 | ' | ' |
Payments for advance to affiliate | ' | ' | ' | ' | ' | ' | 175,000 | ' | ' |
Legal fees | ' | ' | ' | ' | ' | ' | 178,000 | ' | ' |
Opereting losses | ' | ' | ' | ' | ' | 28,914 | -9,981,489 | -11,146,507 | -25,723,164 |
Net losses | ' | ' | ' | ' | ' | ' | -25,723,164 | -15,741,675 | -25,723,164 |
Green Hygienics, Inc. [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Payment of licensing rights | ' | ' | ' | ' | ' | ' | 250,000 | ' | ' |
Common stock shares issuable | ' | ' | ' | ' | 4,347,826 | ' | ' | ' | ' |
Repayments Of related party debt | ' | ' | ' | ' | 143,730 | ' | 52,364 | ' | ' |
Accounts payable current | ' | ' | ' | ' | $106,270 | ' | ' | ' | ' |
Green Innovations Ltd [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common stock shares issuable | ' | ' | ' | ' | 625,000 | ' | ' | ' | ' |
Summary_of_Significant_Account1
Summary of Significant Accounting Policies (Details Narrative) (USD $) | Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2012 | Mar. 31, 2014 | Mar. 31, 2014 |
Minimum [Member] | Maximum [Member] | ||||
Cash equivalents | $553,785 | $259,122 | ' | ' | ' |
Cash FDIC insured amount | $250,000 | $303,785 | $9,122 | ' | ' |
Fair value assumptions expected term | ' | ' | ' | '180 days | '360 days |
Fair value assumptions expected volatility rate | ' | ' | ' | 89.00% | 172.00% |
Equipment_Details_Narrative
Equipment (Details Narrative) (USD $) | 12 Months Ended | |
Mar. 31, 2014 | Mar. 31, 2013 | |
Property, Plant and Equipment [Abstract] | ' | ' |
Depreciation expenses | $8,900 | $8,086 |
Equipment_Details
Equipment (Details) (USD $) | 12 Months Ended | |
Mar. 31, 2014 | Mar. 31, 2013 | |
Property, Plant and Equipment [Abstract] | ' | ' |
Computer and office equipment | $55,085 | $49,951 |
Less: accumulated depreciation | -30,469 | -21,569 |
Equipment, Net | $24,616 | $28,382 |
Computer and office equipment useful life | '5 years | '5 years |
Intangible_Assets_Details_Narr
Intangible Assets (Details Narrative) (USD $) | 0 Months Ended | 1 Months Ended | 12 Months Ended | 28 Months Ended | 1 Months Ended | 12 Months Ended | 12 Months Ended | ||||
Feb. 19, 2013 | 31-May-13 | Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2014 | 31-May-13 | Mar. 31, 2014 | 31-May-13 | Oct. 29, 2014 | Mar. 31, 2014 | Oct. 29, 2013 | |
Green Hygienics, Inc. [Member] | Green Hygienics, Inc. [Member] | Green Innovations Ltd [Member] | Bacterial Robotics, LLC [Member] | Bacterial Robotics, LLC [Member] | Bacterial Robotics, LLC [Member] | ||||||
Payments form legal settlement by ITL | $20,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of issued and outstanding shares | 9.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of products sold | ' | 100.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Payment of licensing rights | ' | 250,000 | 1,355,988 | ' | ' | ' | 250,000 | ' | ' | 1,189,851 | ' |
Common stock shares issuable | ' | ' | ' | ' | ' | 4,347,826 | ' | 625,000 | ' | ' | ' |
Repayments of related party debt | ' | ' | ' | 52,364 | 125,503 | 143,730 | 52,364 | ' | ' | ' | ' |
Accounts payable current | ' | ' | 989,816 | ' | ' | 106,270 | ' | ' | ' | ' | ' |
Excess of stock issued fo licensing right | ' | 2,500,000 | 36,644,631 | ' | ' | ' | ' | ' | ' | ' | ' |
License fee over period | ' | ' | ' | ' | ' | ' | '5 years | ' | ' | ' | ' |
Accumulated amortization cost | ' | ' | ' | ' | ' | ' | 34,911 | ' | ' | 48,952 | ' |
Impairment charge | ' | ' | ' | ' | ' | ' | 215,089 | ' | ' | 1,140,899 | ' |
Stock issued during period for agreement | ' | ' | ' | ' | ' | ' | ' | ' | 25,000 | ' | ' |
Warrants issuance period | ' | ' | ' | ' | ' | ' | ' | ' | '5 years | ' | ' |
Issuance warrants to purchase of common stock | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 75,000,000 |
Stock issued during period value | ' | ' | ' | ' | ' | ' | ' | ' | 1,139,851 | ' | ' |
Cash | ' | ' | 553,785 | 259,122 | 553,785 | ' | ' | ' | ' | ' | 25,000 |
Amortization fee | ' | ' | ' | ' | ' | ' | ' | ' | ' | $1,189,851 | ' |
Intagible_Assets_Schedule_of_L
Intagible Assets - Schedule of License Cost (Details) (USD $) | 12 Months Ended | |
Mar. 31, 2014 | Mar. 31, 2013 | |
Goodwill and Intangible Assets Disclosure [Abstract] | ' | ' |
Licensing fee | $1,439,851 | ' |
Less: accumulated amortization | 83,863 | ' |
Impairment gross | 1,355,988 | ' |
Net impairment | -1,355,988 | 0 |
Balance | ' | ' |
Estimated life | '5 years | ' |
Intangible_Assets_Schedule_of_
Intangible Assets - Schedule of Cost of Patent and Related Amortization (Details) (USD $) | 12 Months Ended |
Mar. 31, 2014 | |
Cash advanced on signing the memorandum of understanding | $100,000 |
Fair value of the warrant for 100,000,000 shares of the Company's | 1,710,000 |
Patents gross | 1,810,000 |
Less amortization | 18,540 |
Net value of patents at March 31, 2014 | $1,791,460 |
Estimated life | '5 years |
Patents [Member] | ' |
Estimated life | '16 years 6 months |
Recovered_Sheet1
Convertible Notes and Notes Payable (Details Narrative) (USD $) | 0 Months Ended | 12 Months Ended | 28 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | 12 Months Ended | 0 Months Ended | ||||
Jan. 03, 2014 | Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2014 | Aug. 02, 2012 | Dec. 31, 2013 | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2014 | Oct. 19, 2012 | Mar. 27, 2013 | Nov. 14, 2012 | |
Minimum [Member] | Minimum [Member] | Maximum [Member] | Maximum [Member] | One Year Convertible Promissory Note [Member] | Convertible Notes Payable [Member] | Convertible Notes Payable [Member] | ||||||
JMJ Financial [Member] | ||||||||||||
Proceeds from convertible debt | ' | $2,173,372 | $175,000 | $2,348,372 | ' | ' | ' | ' | ' | ' | ' | ' |
Debt instruments interest rate | ' | 8.00% | ' | ' | ' | 8.00% | 5.00% | 10.00% | 12.00% | ' | ' | ' |
Convertible Debt | ' | 263,917 | 558,773 | 263,917 | ' | ' | ' | ' | ' | ' | ' | ' |
Convertible Notes Payable, net | ' | 56,425 | 225,000 | 56,425 | ' | ' | ' | ' | ' | 445,000 | ' | ' |
Conversion of unpaid principal and interest into common stock, per share | ' | $0.25 | $0.15 | $0.25 | ' | ' | ' | ' | ' | $0.25 | ' | ' |
Percentage of lower trade price | ' | ' | ' | ' | ' | ' | ' | ' | ' | 75.00% | ' | ' |
Debt, interest rate | ' | ' | 5.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Derivative liability | ' | 1,581,119 | ' | 1,581,119 | ' | ' | ' | ' | ' | ' | ' | ' |
Number of common stock reserved for future conversion | ' | 61,819,334 | ' | 61,819,334 | ' | ' | ' | ' | ' | ' | ' | ' |
Notes payable | ' | 56,425 | 56,425 | 56,425 | 52,364 | ' | ' | ' | ' | ' | ' | ' |
Payment of origination fee, common stock shares | ' | ' | ' | ' | ' | ' | ' | ' | ' | 200,000 | ' | ' |
Proceeds from loan | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 25,000 | 150,000 |
Debt, beneficial conversion feature, discount rate | ' | ' | 25.00% | ' | ' | ' | ' | ' | ' | ' | ' | 25.00% |
Debt, beneficial conversion feature, discount amount | ' | 848,014 | 107,609 | ' | ' | ' | ' | 848,014 | ' | ' | ' | 37,500 |
Loan balance | ' | ' | 106 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Unamortized discount | ' | ' | 68,575 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Notes converted, common stock shares | 9,900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of shares required to be issued | 41,250,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Excess of stock issued | ' | ' | 5,775,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Converstion of stock amount | ' | ' | 3,210,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Proceeds from debt | $1,378,713 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Related_Parties_Details_Narrat
Related Parties (Details Narrative) (USD $) | Mar. 31, 2014 | Mar. 31, 2013 | Aug. 02, 2012 |
Related Parties Details Narrative | ' | ' | ' |
Notes payable | $56,425 | $56,425 | $52,364 |
Accrued interest | ' | ' | $34,102 |
Stockholders_Equity_Deficit_De
Stockholders' Equity (Deficit) (Details Narrative) (USD $) | 0 Months Ended | 1 Months Ended | 3 Months Ended | 12 Months Ended | 28 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | 0 Months Ended | 1 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 1 Months Ended | 0 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 1 Months Ended | 0 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||
Oct. 19, 2012 | 21-May-12 | 31-May-13 | Mar. 31, 2012 | Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2014 | Mar. 31, 2014 | Mar. 31, 2013 | 15-May-12 | Feb. 02, 2012 | Mar. 31, 2013 | Aug. 22, 2012 | Dec. 31, 2012 | Oct. 31, 2012 | Mar. 31, 2013 | Sep. 02, 2012 | Mar. 31, 2013 | Mar. 31, 2013 | Feb. 02, 2012 | Mar. 31, 2014 | Jul. 11, 2011 | Mar. 31, 2012 | Mar. 31, 2013 | Mar. 31, 2012 | Mar. 31, 2014 | Mar. 31, 2013 | Oct. 31, 2012 | Sep. 02, 2012 | Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2013 | Mar. 31, 2013 | Mar. 31, 2014 | Mar. 31, 2012 | Mar. 31, 2014 | Mar. 31, 2013 | Oct. 31, 2012 | Sep. 02, 2012 | Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2013 | Mar. 31, 2013 | Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2012 | Mar. 31, 2013 | Mar. 31, 2013 | Mar. 31, 2013 | Mar. 31, 2012 | Mar. 31, 2013 | Mar. 31, 2012 | Mar. 31, 2013 | Mar. 31, 2012 | 15-May-12 | Mar. 31, 2012 | Mar. 31, 2013 | Mar. 31, 2012 | Mar. 31, 2013 | |
Green Hygienics, Inc. [Member] | Domain Name [Member] | Vice President [Member] | Vice President [Member] | Vice President [Member] | Chief Executive Officer [Member] | Chief Executive Officer [Member] | Chief Executive Officer [Member] | Chief Executive Officer [Member] | Chief Financial Officer [Member] | Current And Former Chief Executive Officer [Member] | Various Consultants [Member] | Former Chief Executive Officer [Member] | Former Chief Executive Officer [Member] | Debenture [Member] | Settlement Agreement [Member] | Legal Services [Member] | Minimum [Member] | Minimum [Member] | Minimum [Member] | Minimum [Member] | Minimum [Member] | Minimum [Member] | Minimum [Member] | Minimum [Member] | Minimum [Member] | Minimum [Member] | Maximum [Member] | Maximum [Member] | Maximum [Member] | Maximum [Member] | Maximum [Member] | Maximum [Member] | Maximum [Member] | Maximum [Member] | Maximum [Member] | Maximum [Member] | Private Placement [Member] | Private Placement [Member] | Private Placement [Member] | Private Placement [Member] | Consultants [Member] | Consultants [Member] | Consultants [Member] | Consultants [Member] | Consultants [Member] | Consultants [Member] | Former Chief Executive Officer [Member] | Former Chief Executive Officer [Member] | Private Placement One [Member] | Private Placement One [Member] | Consultants One [Member] | ||||||||
Chief Executive Officer [Member] | Chief Financial Officer [Member] | Former Chief Financial Officer [Member] | Current And Former Chief Executive Officer [Member] | Various Consultants [Member] | Legal Services [Member] | Convertible Debt Arrangement [Member] | Chief Executive Officer [Member] | Chief Financial Officer [Member] | Former Chief Financial Officer [Member] | Current And Former Chief Executive Officer [Member] | Various Consultants [Member] | Legal Services [Member] | Convertible Debt Arrangement [Member] | Minimum [Member] | Maximum [Member] | Minimum [Member] | Minimum [Member] | Maximum [Member] | Maximum [Member] | ||||||||||||||||||||||||||||||||||||||||
Number of stock issued in private placement, share | ' | ' | ' | ' | ' | 8,093,467 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 48,844,236 | 13,450,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5,335,000 | 22,853,560 | ' |
Stock issued during period, per share | $0.15 | ' | ' | $0.05 | $0.04 | $0.10 | ' | ' | $0.13 | ' | ' | ' | $0.20 | $0.04 | ' | $0.06 | ' | ' | ' | ' | ' | ' | $0.14 | ' | $0.10 | $0.01 | $0.10 | $0.04 | $0.06 | $0.04 | $0.02 | $0.01 | $0.10 | $0.02 | $0.14 | $0.06 | $0.15 | $0.24 | $0.20 | $0.07 | $0.09 | $0.09 | $0.25 | $0.03 | ' | $0.05 | $0.10 | $0.15 | ' | ' | $0.10 | $0.10 | $0.29 | $0.14 | $0.10 | $0.11 | ' | $0.10 | $0.10 |
Number of stock issued for services, shares | ' | ' | ' | ' | ' | 6,997,501 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,592,920 | 2,000,000 | 31,720,000 | 141,700,390 | ' | ' | ' | ' | 2,150,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 30,128,983 | 14,485,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of stock issued during period | ' | ' | ' | ' | ' | ' | ' | 4,387,826 | ' | 2,500,000 | ' | 180,000 | ' | ' | ' | 350,000 | ' | ' | ' | ' | ' | ' | 1,565,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of stock issued for conversion and settlement the rent, value | ' | $225,819 | ' | $78,000 | $1,341,305 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $78,000 | ' | ' | ' |
Number of stock issued for conversion and settlement the rent, shares | ' | 2,720,000 | ' | ' | 191,604,392 | 43,864,772 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 709,090 | ' | ' | ' |
Value of debenture converted into shares | ' | ' | ' | ' | ' | 3,210,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debenture converted into number of shares | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Loss on extinguishment | ' | ' | ' | ' | 321,000 | ' | 321,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 336,836 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Additional shares issued during period | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,500,000 | ' | ' | ' | ' |
Proceeds from private placement | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7,500,000 | ' | ' | ' | ' |
Number of stock issued for obtain the rights to domain name | ' | ' | ' | ' | ' | ' | ' | ' | 200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of stock issued for service, value | ' | ' | ' | ' | ' | 287,500 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 95,575 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of stock issued for obtain loan | 200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of stock issued for employment | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,500,000 | 4,000,000 | 360,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of stock issued for employment, per month | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 60,000 | 60,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Value of accounts payable converted into shares | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 75,000 |
Accounts payable coverted into number of shares | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 750,000 |
Number of stock issued in private placement, value | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 643,956 | ' | ' |
Shares issued in settlement of legal fees | ' | ' | ' | ' | 1,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shares issued for commitment fee | ' | ' | ' | ' | 10,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shares issued for license fee, shares | ' | ' | ' | ' | 2,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shares issued for license fee | ' | ' | ' | ' | 106,250 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common stock issued for cash | ' | ' | 2,500,000 | ' | 36,644,631 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 860,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Compensation arrangements, description | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
to the extent the consultant introduces the Company to any sources of equity or debt arrangements, the Company agrees to pay 8% to 10% in cash and 8% to 10% in common stock of the Company of all cash amounts actually received by the Company and 2% for debt arrangements | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of options awarded to purchase common stock | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | 5,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based compensation expense | ' | ' | ' | ' | 1,400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Warrants issued to acquire common stock | 75,000,000 | ' | ' | ' | 75,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Value of Warrants | $1,139,851 | ' | ' | ' | $1,710,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance of warrants to purchase of common stock | ' | ' | ' | ' | 100,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Equity issuance price per share | ' | ' | ' | ' | $0.02 | ' | $0.02 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stockholders_Equity_Deficit_Sc
Stockholders' Equity (Deficit) - Schedule of Warrants Activity (Details) (USD $) | 12 Months Ended | |
Mar. 31, 2014 | Mar. 31, 2013 | |
Weighted Average Exercise Price, Outstanding, Beginning balance | $0.10 | ' |
Weighted Average Exercise Price, Granted | ' | $0.10 |
Weighted Average Exercise Price, Expired | ' | ' |
Weighted Average Exercise Price, Exercised | ' | ' |
Weighted Average Exercise Price, Outstanding, Ending balance | $0.10 | $0.10 |
Weighted Average Remaining Contractual Term | '7 years 10 months 6 days | '8 years 10 months 6 days |
Warrants [Member] | ' | ' |
Shares, Outstanding, Beginning balance | 200,000 | 394,465 |
Shares, Granted | 17,500,000 | ' |
Shares, Expired | ' | -194,465 |
Shares, Exercised | ' | ' |
Shares, Outstanding, Ending balance | 175,200,000 | 200,000 |
Weighted Average Exercise Price, Outstanding, Beginning balance | $0.40 | $0.57 |
Weighted Average Exercise Price, Granted | $0.07 | ' |
Weighted Average Exercise Price, Expired | ' | $0.75 |
Weighted Average Exercise Price, Outstanding, Ending balance | $0.02 | $0.40 |
Weighted Average Remaining Contractual Term | '5 years 10 months 10 days | '1 year 4 months 17 days |
Aggregate Intrinsic Value | $10,050,000 | ' |
Stockholders_Equity_Deficit_Sc1
Stockholders' Equity (Deficit) - Schedule Pricing Model to Value Stock Options (Details) | 12 Months Ended |
Mar. 31, 2014 | |
Volatility | 168.32% |
Risk-free rate | 1.27% |
Dividend rate | 0.00% |
Expected life | '5 years |
Warrant [Member] | ' |
Volatility, Minimum | 168.32% |
Volatility, Maximum | 244.92% |
Risk-free rate, Minimum | 1.34% |
Risk-free rate, Maximum | 0.41% |
Dividend rate | 0.00% |
Expected life | '3 years |
Stock Options [Member] | ' |
Volatility, Minimum | 220.00% |
Risk-free rate | 0.00% |
Dividend rate | 0.00% |
Expected life | '10 years |
Stockholders_Equity_Deficit_Sc2
Stockholders' Equity (Deficit) - Schedule of Stock Options Activity (Details) (USD $) | 12 Months Ended | |
Mar. 31, 2014 | Mar. 31, 2013 | |
Equity [Abstract] | ' | ' |
Number of Options Outstanding, Beginning balance | 10,000,000 | ' |
Number of Options Granted | ' | 10,000,000 |
Number of Options, Expired | ' | ' |
Number of Options Exercised | ' | ' |
Number of Options Outstanding, Ending balance | 10,000,000 | 10,000,000 |
Weighted Average Exercise Price, Outstanding, Beginning balance | $0.10 | ' |
Weighted Average Exercise Price, Granted | ' | $0.10 |
Weighted Average Exercise Price, Expired | ' | ' |
Weighted Average Exercise Price, Exercised | ' | ' |
Weighted Average Exercise Price, Outstanding, Ending balance | $0.10 | $0.10 |
Weighted Average Remaining Contractual Term | '7 years 10 months 6 days | '8 years 10 months 6 days |
Aggregate Intrinsic Value | ' | ' |
Commitments_and_Contingencies_
Commitments and Contingencies (Details Narrative) (USD $) | 0 Months Ended | ||||||||||||
Jan. 31, 2012 | Feb. 26, 2014 | Aug. 22, 2012 | Aug. 22, 2012 | Feb. 26, 2014 | Aug. 22, 2012 | Feb. 26, 2014 | Aug. 22, 2012 | Feb. 26, 2014 | Jan. 31, 2012 | Jan. 31, 2012 | Jan. 31, 2012 | Feb. 19, 2013 | |
Stella M Sung [Member] | Seth M. Shaw [Member] | March 2014 [Member] | March 2014 [Member] | April 2014 [Member] | April 2014 [Member] | May 1, 2014 [Member] | May 1, 2014 [Member] | 2013 [Member] | 2014 [Member] | 2015 [Member] | ITL [Member] | ||
Stella M Sung [Member] | Stella M Sung [Member] | Stella M Sung [Member] | |||||||||||
Receivable amount from legal entity under legal matters | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $20,000 |
Percentage of shares receivable from legal entity under legal matters | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 9.00% |
Salary compensation | ' | ' | 132,000 | 8,000 | 8,000 | 8,000 | 8,000 | 9,500 | 14,000 | ' | ' | ' | ' |
Once time cash bonus when company completes a minimum private placement | ' | 25,000 | 25,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Minimum private placement finance | ' | 750,000 | 750,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Monthly restricted share allotment | ' | ' | 60,000 | ' | ' | ' | ' | ' | 150,000 | ' | ' | ' | ' |
One time S-8 share allotment | ' | 2,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cash compensation | ' | ' | 60,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Lease term | '3 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Monthly lease payment | 2,150 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Annual lease payment | ' | ' | ' | ' | ' | ' | ' | ' | ' | $25,800 | $25,800 | $2,150 | ' |
Provision_for_Income_Taxes_Det
Provision for Income Taxes (Details Narrative) (USD $) | 12 Months Ended |
Mar. 31, 2013 | |
United States [Member] | ' |
Net operating loss carryforward | $7,700,000 |
Net operating loss carryforward, expiration year | '2032 |
Canadian States [Member] | ' |
Net operating loss carryforward | $500,000 |
Net operating loss carryforward, expiration year | '2032 |
Provision_for_Income_Taxes_Sch
Provision for Income Taxes - Schedule of Deferred Tax Assets (Details) (USD $) | Mar. 31, 2014 | Mar. 31, 2013 |
Income Tax Disclosure [Abstract] | ' | ' |
Net operating losses | ($2,200,000) | ($1,200,000) |
Derivative liabilities | 500,000 | ' |
Impairment of assets | 1,800,000 | 1,300,000 |
Valuation allowance | -4,500,000 | -2,500,000 |
Deferred Tax Assets, Net | $0 | $0 |
Provision_for_Income_Taxes_Sch1
Provision for Income Taxes - Schedule of Percentage of Income Taxes (Details) | 12 Months Ended | |
Mar. 31, 2014 | Mar. 31, 2013 | |
Income Tax Disclosure [Abstract] | ' | ' |
Federal statutory rate | -34.00% | -34.00% |
State income taxes, net of federal benefits | -3.30% | -3.30% |
Valuation allowance | 37.30% | 37.30% |
Effective Income Tax Rate | 0.00% | 0.00% |
Investment_Available_for_Sale_1
Investment Available for Sale Secuity (Details Narrative) (USD $) | 12 Months Ended | |
Mar. 31, 2014 | Mar. 31, 2013 | |
Unrealized loss on investments | $187,500 | ' |
Investment - available for sale security | 62,500 | ' |
Green Innovations, Inc [Member] | ' | ' |
Cost incurred in investment | $250,000 | ' |
Fair_Value_Measurements_Schedu
Fair Value Measurements - Schedule of Fair Value Measurements (Details) (USD $) | Mar. 31, 2014 | Mar. 31, 2013 |
Investment available for sale security | $62,500 | ' |
Derivative liabilities | 1,581,119 | ' |
Level 1 [Member] | ' | ' |
Investment available for sale security | 62,500 | ' |
Derivative liabilities | ' | ' |
Level 2 [Member] | ' | ' |
Investment available for sale security | ' | ' |
Derivative liabilities | 1,581,119 | ' |
Level 3 [Member] | ' | ' |
Investment available for sale security | ' | ' |
Derivative liabilities | ' | ' |
Subsequent_Events_Details_Narr
Subsequent Events (Details Narrative) (USD $) | 0 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | ||
21-May-12 | Mar. 31, 2014 | Mar. 31, 2013 | Mar. 10, 2014 | Jun. 24, 2014 | Mar. 31, 2013 | 15-May-12 | Mar. 31, 2013 | |
Hanover Holdings I, LLC [Member] | Typenex Co-Investment, LLC [Member] | Chief Executive Officer [Member] | Vice President [Member] | Vice President [Member] | ||||
Subsequent Event [Member] | ||||||||
Number of stok issued during period in connection with the conversion of convertible notes | 2,720,000 | 191,604,392 | 43,864,772 | ' | ' | ' | ' | ' |
Number of stok issued during period in connection with private placements | ' | ' | 8,093,467 | ' | ' | ' | ' | ' |
Number of stok issued during period in connection with financing fees | ' | ' | 10,550,000 | ' | ' | ' | ' | ' |
Number of stok issued during period to consultants | ' | ' | 6,997,501 | ' | ' | 1,592,920 | ' | ' |
Number of stok issued during period | ' | ' | ' | ' | ' | 350,000 | 2,500,000 | 180,000 |
Investor agreed to release the securities value | ' | ' | ' | $250,000 | ' | ' | ' | ' |
Interest rate for repurchase the securities | ' | ' | ' | ' | 8.00% | ' | ' | ' |
Repurchase the principal amount of convertible securities from investors | ' | ' | ' | ' | 550,000 | ' | ' | ' |
Repurchase agreement include the legal expenses | ' | ' | ' | ' | 7,500 | ' | ' | ' |
Repurchase agreement include the original issue discount | ' | ' | ' | ' | 50,000 | ' | ' | ' |
Repurchase the securities excluding legal fees and discount amount | ' | ' | ' | ' | 500,000 | ' | ' | ' |
Amount paid in cash for repurchase the securities | ' | ' | ' | ' | 100,000 | ' | ' | ' |
Issued promissory notes for repurchase the securities | ' | ' | ' | ' | $400,000 | ' | ' | ' |