Document_and_Entity_Informatio
Document and Entity Information (USD $) | 12 Months Ended | |
Mar. 31, 2014 | Sep. 30, 2013 | |
Document and Entity Information: | ' | ' |
Entity Registrant Name | 'Growblox Sciences, Inc. | ' |
Document Type | '10-K | ' |
Document Period End Date | 31-Mar-14 | ' |
Amendment Flag | 'false | ' |
Entity Central Index Key | '0001165320 | ' |
Current Fiscal Year End Date | '--03-31 | ' |
Entity Common Stock, Shares Outstanding | 7,268,948 | ' |
Entity Filer Category | 'Smaller Reporting Company | ' |
Entity Current Reporting Status | 'Yes | ' |
Entity Voluntary Filers | 'No | ' |
Entity Well-known Seasoned Issuer | 'No | ' |
Document Fiscal Year Focus | '2014 | ' |
Document Fiscal Period Focus | 'FY | ' |
Entity Public Float | ' | $112,670 |
Date of Incorporation | 4-Apr-01 | ' |
Condensed_Balance_Sheets
Condensed Balance Sheets (USD $) | Mar. 31, 2014 | Mar. 31, 2013 |
Current assets: | ' | ' |
Cash | $339,327 | $2,427 |
Subscription Receivable | 150,000 | ' |
Debt issuance costs | ' | 3,963 |
Prepaid expenses and other current assets | ' | 100 |
Total current assets | 489,327 | 6,490 |
Property and Equipment, net | 44,922 | 128 |
Intangibles, net | 3,735 | ' |
Total assets | 537,984 | 6,618 |
Current liabilities: | ' | ' |
Accounts payable | 19,762 | 11,886 |
Subscriptions payable | 10,000 | ' |
Accrued interest | 252,304 | 208,088 |
Other accrued expenses | 1,847 | 45,751 |
Notes from shareholders | 5,000 | ' |
Convertible notes from shareholders | 328,693 | 442,750 |
Convertible notes from shareholders, at fair value | 933,748 | 227,521 |
Derivative liability, at fair value | 0 | 260,311 |
Total current liabilities | 1,551,354 | 1,196,307 |
Commitments and contingencies | ' | ' |
Stockholders' equity (deficiency): | ' | ' |
Common stock, $0.0001 par value, 250,000,000 shares authorized 7,268,948 and 850,110 shares issued and outstanding at March 31, 3014 and March 31, 2013 | 727 | 85 |
Additional paid-in capital | 5,198,659 | 4,367,028 |
Deficit accumulated related to abandoned activities | -1,676,223 | -1,676,223 |
Deficit accumulated during development stage | -4,536,533 | -3,880,579 |
Total stockholders' equity (deficiency) | -1,013,370 | -1,189,689 |
Total liabilities and stockholders' equity (deficiency) | $537,984 | $6,618 |
Condensed_Balance_Sheets_Paren
Condensed Balance Sheets (Parenthetical) (USD $) | Mar. 31, 2014 | Mar. 31, 2013 |
Statement Of Financial Position | ' | ' |
Common stock, par or stated value | $0.00 | $0.00 |
Common stock, shares authorized | 250,000,000 | 250,000,000 |
Common stock, shares issued | 7,268,948 | 850,110 |
Common Stock, shares outstanding | 7,268,948 | 850,110 |
Statements_of_Operations
Statements of Operations (USD $) | 12 Months Ended | |
Mar. 31, 2014 | Mar. 31, 2013 | |
Income Statement | ' | ' |
Net revenue | ' | ' |
Cost of revenue | ' | ' |
Gross profit (loss) | ' | ' |
Loss on oil and gas properties | ' | 36,000 |
Stock compensation | ' | ' |
General and administrative expenses | 187,760 | 75,718 |
Loss from continuing operations | -187,760 | -111,718 |
Other income/(expense) | ' | ' |
Change in fair value of convertible notes | 65,235 | 101,701 |
Change in fair value of warrants | 78,385 | 97,575 |
Loss on extinguishment of debt | -559,048 | ' |
Loss on loan modification | ' | ' |
Interest expense | -52,767 | -51,408 |
Total other income/(expenses) | -468,195 | 147,868 |
Net income/(loss) | ($655,955) | $36,150 |
Weighted average common shares outstanding - basic and diluted | 940,723 | 966,858 |
Net loss per share - basic and diluted | ($0.70) | $0.04 |
Statements_of_Stockholders_Equ
Statements of Stockholders' Equity (Deficiency) (USD $) | Common stock | Additional Paid-in Capital | Deficit Accumulated Related to Abandoned Activities | Deficit Accumulated During Exploration Stage | Total |
Stockholders' Equity, beginning of period, Value at Feb. 29, 2008 | $9 | $1,469,728 | ($1,676,223) | ' | ($206,486) |
Stockholders' Equity, beginning of period, Shares at Feb. 29, 2008 | 88,682 | ' | ' | ' | ' |
Net loss | ' | ' | ' | -9,845 | -9,845 |
Stockholders' Equity, end of period, Value at Mar. 31, 2008 | 9 | 1,469,728 | -1,676,223 | -9,845 | -216,331 |
Stockholders' Equity, beginning of period, Shares at Mar. 31, 2008 | 88,682 | ' | ' | ' | ' |
Issuance of stock as compensation, in March 2009, Value | ' | 516 | ' | ' | 516 |
Issuance of stock as compensation, in March 2009, Shares | 1,033 | ' | ' | ' | ' |
Loss on loan modification | ' | 202,500 | ' | ' | 202,500 |
Net loss | ' | ' | ' | -341,967 | -341,967 |
Stockholders' Equity, end of period, Value at Mar. 31, 2009 | 9 | 1,672,744 | -1,676,223 | -351,812 | -355,282 |
Stockholders' Equity, end of period, Shares at Mar. 31, 2009 | 89,714 | ' | ' | ' | ' |
Issuance of stock for debt conversions, Value | 22 | 21,600 | ' | ' | 21,622 |
Issuance of stock for debt conversions, Shares | 216,225 | ' | ' | ' | ' |
Compensation expense - employment contracts, Value | 38 | 1,031,002 | ' | ' | 1,031,040 |
Compensation expense - employment contracts, Shares | 387,300 | ' | ' | ' | ' |
Compensation expense - stock option | ' | 984,600 | ' | ' | 984,600 |
Compensation expense - consulting, Value | 1 | 89,256 | ' | ' | 89,257 |
Compensation expense - consulting, Shares | 8,014 | ' | ' | ' | ' |
Beneficial conversion features | ' | 133,000 | ' | ' | 133,000 |
Loss on loan modification | ' | 258,441 | ' | ' | 258,441 |
Net loss | ' | ' | ' | -2,964,861 | -2,964,861 |
Stockholders' Equity, end of period, Value at Mar. 31, 2010 | 70 | 4,190,643 | -1,676,223 | -3,316,673 | -802,183 |
Stockholders' Equity, end of period, Shares at Mar. 31, 2010 | 701,253 | ' | ' | ' | ' |
Compensation expense - consulting, Value | 1 | 62,399 | ' | ' | 62,400 |
Compensation expense - consulting, Shares | 6,000 | ' | ' | ' | ' |
Legal Retainer, Value | ' | 10,000 | ' | ' | 10,000 |
Legal Retainer, Shares | 2,857 | ' | ' | ' | ' |
Net loss | ' | ' | ' | -585,293 | -585,293 |
Stockholders' Equity, end of period, Value at Mar. 31, 2011 | 710 | 4,263,042 | -1,676,223 | -3,901,966 | -1,315,076 |
Stockholders' Equity, end of period, Shares at Mar. 31, 2011 | 710,110 | ' | ' | ' | ' |
Compensation - employment contracts, Value | 240 | -240 | ' | ' | ' |
Compensation - employment contracts, Shares | 2,402,682 | ' | ' | ' | ' |
Issuance of stock for debt conversions, Value | 14 | 103,986 | ' | ' | 104,000 |
Issuance of stock for debt conversions, Shares | 140,000 | ' | ' | ' | ' |
Net loss | ' | ' | ' | -14,763 | -14,763 |
Stockholders' Equity, end of period, Value at Mar. 31, 2012 | 3,253 | 4,363,860 | -1,676,223 | -3,916,729 | -1,225,839 |
Stockholders' Equity, end of period, Shares at Mar. 31, 2012 | 32,527,930 | ' | ' | ' | ' |
Compensation - employment contracts, Value | -240 | 240 | ' | ' | ' |
Compensation - employment contracts, Shares | -2,402,682 | ' | ' | ' | ' |
Sale of stock subscription | 1 | 11,499 | ' | ' | 12,500 |
Return of stock sold | -1 | -11,499 | ' | ' | -12,500 |
Rounding | 1 | ' | ' | ' | ' |
Issuance of stock for debt conversions, Shares | ' | ' | ' | ' | 438,681 |
Net loss | ' | ' | ' | 36,150 | 36,150 |
Stockholders' Equity, end of period, Value at Mar. 31, 2013 | 85 | 4,367,028 | -1,676,223 | -3,880,579 | -1,189,689 |
Stockholders' Equity, end of period, Shares at Mar. 31, 2013 | 850,110 | ' | ' | ' | ' |
Fractional share from stock split, Shares | 157 | ' | ' | ' | ' |
Asset acquisition, Value | 450 | 33,317 | ' | ' | 33,467 |
Asset acquisition, Shares | 4,500,000 | ' | ' | ' | ' |
Sale of stock subscription, Value | 148 | 739,852 | ' | ' | 740,000 |
Sale of stock subscription | 1,480,000 | ' | ' | ' | ' |
Rounding | ' | -1 | ' | 1 | ' |
Issuance of stock for debt conversions, Value | 44 | 114,013 | ' | ' | 114,057 |
Issuance of stock for debt conversions, Shares | 438,681 | ' | ' | ' | ' |
Stock issuance costs | ' | -55,250 | ' | ' | -55,250 |
Net loss | ' | ' | ' | -655,955 | -655,955 |
Stockholders' Equity, end of period, Value at Mar. 31, 2014 | $727 | $5,615,193 | ($1,676,223) | ($4,536,533) | ($1,013,370) |
Stockholders' Equity, end of period, Shares at Mar. 31, 2014 | 7,268,948 | ' | ' | ' | ' |
Statements_of_Cash_Flows
Statements of Cash Flows (USD $) | 12 Months Ended | |
Mar. 31, 2014 | Mar. 31, 2013 | |
Cash flows from operating activities: | ' | ' |
Net loss | ($655,955) | $36,150 |
Adjustments to reconcile net loss to net cash used in operating activities: | ' | ' |
Depreciation expense | 128 | 300 |
Amortization expense | 10 | ' |
Loss on oil and gas assets | ' | 36,000 |
Stock compensation | ' | ' |
Loss on loan modification | ' | ' |
Loss on extinguishment of debt | 559,048 | ' |
Change in fair value of convertible notes | -65,235 | -101,701 |
Change in fair value of warrants | -78,385 | -97,575 |
Non-cash interest | 8,552 | 7,317 |
Changes in operating assets and liabilities: | ' | ' |
Stock subscription receivable | -150,000 | ' |
Other assets | ' | 350 |
Accounts payable | 7,875 | 5,327 |
Stock subscription payable | 10,000 | ' |
Accrued expenses | 312 | 76,385 |
Net cash used in operating activities | -363,650 | -37,447 |
Cash flows from investing activities: | ' | ' |
Investment in oil and gas properties | ' | ' |
Purchase of property and equipment | -15,200 | ' |
Net cash used in investing activities | -15,200 | ' |
Cash flows from financing activities: | ' | ' |
Proceeds for sale of stock | 684,750 | ' |
Proceeds from issuance of debt to stockholders | 31,000 | 37,700 |
Net cash provided by financing activities | 715,750 | 37,700 |
Net increase (decrease) in cash | 336,900 | 253 |
Cash, beginning of year | 2,427 | 2,174 |
Cash, end of year | 339,327 | 2,427 |
Supplemental disclosures of cash flow information: | ' | ' |
Cash paid during the year for: Interest | ' | ' |
Non-cash investing and financing activities: | ' | ' |
Stock issued for intangible assets | 33,467 | ' |
Stock issued for legal retainer included in other assets | ' | ' |
Convertible debt issued for oil and gas lease agreements | ' | ' |
Stock issued to settle convertible debt | 114,057 | ' |
Stock issued to settle interest expense | ' | ' |
Note_1_Organization_and_Princi
Note 1 - Organization and Principles of Consolidation | 12 Months Ended |
Mar. 31, 2014 | |
Notes | ' |
Note 1 - Organization and Principles of Consolidation | ' |
NOTE 1 – ORGANIZATION AND PRINCIPLES OF CONSOLIDATION | |
Reporting Entity. GrowBlox Sciences, Inc. (“GrowBlox” or “the Company”) was incorporated on April 4, 2001 under the laws of the State of Delaware. The Company is authorized to issue 250,000,000 shares of common stock, par value $.0001. On March 18, 2014, we purchased assets from Craig Ellins, which included the revolutionary GrowBLOX technology. We plan to utilize this technology to commercially cultivate and produce medical grade cannabis for sale in the U.S. states and territories in which it is legal. We also plan to research the medical treatment potential of cannabis and develop treatments from those findings. On April 4, 2014, we officially changed our name to GrowBLOX Sciences, Inc. to reflect this new corporate direction. The Company’s office is located in Las Vegas, Nevada. |
Note_2_Basis_of_Presentation
Note 2 - Basis of Presentation | 12 Months Ended |
Mar. 31, 2014 | |
Notes | ' |
Note 2 - Basis of Presentation | ' |
NOTE 2 – BASIS OF PRESENTATION | |
The Company’s financial statements have been prepared assuming the Company will continue as a going concern. The Company has experienced net losses since April 4, 2001, which losses have caused an accumulated deficit of approximately $6,100,000 at March 31, 2014 of which $4,500,000 has been accumulated during our current development activities. In addition, the Company has consumed cash in its operating activities of approximately $364,000 and $37,000 for the years ended March 31, 2014 and 2013, respectively. These factors, among others, raise substantial doubt about the Company’s ability to continue as a going concern. | |
Management has been able, thus far, to finance the losses through a public offering, private placements and obtaining operating funds from stockholders. The Company is continuing to seek sources of financing. There are no assurances that the Company will be successful in achieving its goals. | |
In view of these conditions, the Company’s ability to continue as a going concern is dependent upon its ability to obtain additional financing or capital sources, to meet its financing requirements, and ultimately to achieve profitable operations. The Company is currently acquiring and developing crude oil and natural gas leases. Management believes that its current and future plans provide an opportunity to continue as a going concern. The accompanying financial statements do not include any adjustments relating to the recoverability and classification of recorded assets, or the amounts and classification of liabilities that may be necessary in the event the Company cannot continue as a going concern. |
Note_3_Summary_of_Significant_
Note 3 - Summary of Significant Accounting Policies | 12 Months Ended |
Mar. 31, 2014 | |
Notes | ' |
Note 3 - Summary of Significant Accounting Policies | ' |
NOTE 3 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | |
Development Stage Company. The Company is considered to be in the development stage. | |
Cash and Cash Equivalents. The Company considers all short-term investments with an original maturity of three months or less when purchased to be cash equivalents. | |
Revenue Recognition. Revenue associated with the production and sales of crude oil, natural gas, natural gas liquids and other natural resources owned by the Company will be recognized when production is sold to a purchaser at a fixed or determinable price when delivery has occurred and title passes from the Company to its customer, and if the collectability of the revenue is probable. | |
Use of Estimates. The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. | |
Property and Equipment. Property and equipment are stated at cost less accumulated depreciation. Depreciation is calculated using the straight-line method over the estimated useful lives of the assets: 3-8 years for machinery and equipment, leasehold improvements are amortized over the shorter of the estimated useful lives or the underlying lease term. Repairs and maintenance expenditures which do not extend the useful lives of related assets are expensed as incurred. | |
Income Taxes. The Company recognizes deferred tax assets and liabilities for the expected future tax consequences of events that have been included in financial statements or tax returns. Deferred tax items are reflected at the enacted tax laws and statutory tax rates applicable to the periods in which the differences are expected reverse. Valuation allowances are established when necessary to reduce deferred tax assets to the amount expected to be realized. Due to the uncertainty regarding the success of future operations, management has valued the deferred tax asset allowance at 100% of the related deferred tax assets. | |
Loss per Share. The Company’s basic loss per share has been calculated using the weighted average number of common shares outstanding during the period. The Company has 8,757,106 potentially dilutive common shares at March 31, 2014. However, such common stock equivalents were not included in the computation of diluted net loss per share as their inclusion would have been anti-dilutive. |
Note_4_Fair_Value_Measurements
Note 4 - Fair Value Measurements | 12 Months Ended | ||||
Mar. 31, 2014 | |||||
Notes | ' | ||||
Note 4 - Fair Value Measurements | ' | ||||
NOTE 4 – FAIR VALUE MEASUREMENTS | |||||
The Company holds certain financial liabilities that are measured at fair value on a recurring basis in accordance with ASC Topic 825-10-15. ASC Topic 820-10 establishes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). ASC Topic 820-10 defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants on the measurement date. A fair value measurement assumes that the transaction to sell the asset or transfer the liability occurs in the principal market for the asset or liability. The three levels of the fair value hierarchy under ASC Topic 820-10 are described below: | |||||
Level 1. Valuations based on quoted prices in active markets for identical assets or liabilities that an entity has the ability to access. | |||||
Level 2. Valuations based on quoted prices for similar assets or liabilities, quoted prices for identical assets or liabilities in markets that are not active, or other inputs that are observable or can be corroborated by observable data for substantially the full term of the assets or liabilities. | |||||
Level 3. Valuations based on inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. Level 3 fair value elections are made on an instrument-by-instrument basis. The Company uses Level 3 inputs to value convertible notes and detachable warrants accounted for as derivatives. | |||||
The tables below detail the Company’s assets and liabilities measured at fair value. | |||||
Fair Value Measurements March 31, 2014 | |||||
Level 1 | Level 2 | Level 3 | Total | ||
Convertible notes from stockholders, at fair value | $- | $- | $- | $- | |
Derivative liability | $- | $- | $- | $- | |
Fair Value Measurement March 31, 2013 | |||||
Level 1 | Level 2 | Level 3 | Total | ||
Convertible notes from stockholders, at fair value | $- | $- | $227,521 | $227,521 | |
Derivative liability | $- | $- | $260,311 | $260,311 | |
The following table presents the changes in Level 3 instruments measured on a recurring basis for the years ended March 31, 2014 and 2013: | |||||
Convertible Notes | Derivative Liability | Total | |||
Balance, March 31, 2012 | $308,255 | $334,497 | $308,255 | ||
Realized and unrealized gains (losses); Included in other income (expense) | -101,701 | -97,575 | -199,276 | ||
Purchases, issuances, and settlements | 20,967 | 23,389 | (44,356 | ||
Balance, March 31, 2013 | $227,521 | $260,311 | $487,832 | ||
Realized and unrealized gains (losses); Included in other income (expense) | 65,235 | 78,385 | 143,720 | ||
Loss on extinguishment of debt | 756,719 | -197,671 | 559,048 | ||
Purchases, issuances, and settlements | 14,843 | 15,745 | 30,588 | ||
Balance, March 31, 2014 | $933,748 | $- | $933,748 | ||
The convertible notes and derivative liability in the preceding tables were measured at fair value, in accordance with ASC Topic 825-10-15, as one instrument and that fair value was allocated to each component. The Company made the fair value election due to this methodology providing a fairer representation of the economic substance of the transaction within the fair value hierarchy. Due to the lack of relevant and market reflective Level 1 and Level 2 inputs, the Company valued the instruments using Level 3 inputs, which require significant judgment and estimates on behalf of management in developing model assumptions. The factors considered in developing those assumptions included; the Company’s inability to attract investment at terms more favorable to the Company, the lack of success in developing oil properties thus far, the continuing reduction in the net assets of the Company and the Company’s history of default on currently outstanding debt. | |||||
Based on management’s evaluation of the assumptions discussed above, the liabilities were initially recorded in an amount equal to the transaction price, which represented the fair value of the total liability at initial recognition. The model used by the Company is calibrated so that the model value at initial recognition equals the transaction price. On an ongoing basis the fair value model used in valuing the convertible notes and derivative liability utilizes the following inputs; exercise price per warrant, conversion price per share, contract term, volatility, current stock prices and risk free rates. The following assumptions were made in the model (1) risk free interest rate of 0.18% to 0.63%, (2) remaining contractual life of 1 to 4.87 years, (3) expected stock price volatility of 797% and (4) expected dividend yield of zero. | |||||
In March 2014, the note holders’ agreed to modify the terms of the notes and warrants. The notes are now convertible at a fixed price of $0.26. The notes will no longer be carried at fair market value using Level 3 inputs now that the conversion price is a fixed amount. The warrants have been cancelled and no longer have any value. A loss of $559,048 for the extinguishment of debt has been recorded on the Statement of Operations as of March 31, 2014. |
Note_5_Deferred_Income_Taxes
Note 5 - Deferred Income Taxes | 12 Months Ended | ||
Mar. 31, 2014 | |||
Notes | ' | ||
Note 5 - Deferred Income Taxes | ' | ||
NOTE 5 – DEFERRED INCOME TAXES | |||
At March 31, 2014, the Company had net operating loss carryforwards for income tax purposes of approximately $4,413,000 available as offsets against future taxable income. The net operating loss carryforwards are expected to expire at various times from 2024 through 2032. Utilization of the Company’s net operating losses may be subject to substantial annual limitation if the Company experiences a 50% change in ownership, as provided by the Internal Revenue Code and similar state provisions. Such an ownership change would substantially increase the possibility of net operating losses expiring before complete utilization. | |||
The tax effects of the primary temporary differences giving rise to the Company’s deferred tax assets and liabilities are as follows for the year ended March 31, 2014: | |||
2014 | 2013 | ||
Deferred tax assets: | |||
Net operating loss carryforward | $1,674,000 | $1,583,000 | |
Stock based compensation | - | - | |
Total deferred tax assets | 1,674,000 | 1,583,000 | |
Less valuation allowance | (1,674,000 | (1,583,000 | |
Net deferred tax asset | $- | $- | |
Because of the Company’s lack of earnings history, the deferred tax assets have been fully offset by a valuation allowance. In assessing the realizability of deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during those periods that the temporary differences become deductible. The Company believes that the tax positions taken in its tax returns would be sustained upon examination by taxing authorities. During the year ended March 31, 2014, the decrease in the deferred tax asset valuation allowance amounted to approximately $91,000. | |||
The provision for income taxes is different than would result from applying the U.S. statutory rate to profit before taxes for the reasons set forth in the following reconciliation: | |||
2014 | 2013 | ||
Tax benefit computed at U.S. statutory rates | ($229,000) | ($205,000) | |
Increases (decreases) in taxes resulting from: | |||
Non-deductible items | 145,000 | 22,000 | |
Change in valuation allowance | 91,000 | 198,000 | |
State taxes | -7,000 | -15,000 | |
Total | $- | $- | |
As a result of the implementation of certain provisions of ASC 740, Income Taxes, the Company performed an analysis of its previous tax filings and determined that there were no positions taken that it considered uncertain. Therefore, there were no unrecognized tax benefits as of March 31, 2013 and 2012. The open tax years for each Federal taxes are March 31, 2011-2014. |
Note_6_Convertible_Notes_and_W
Note 6 - Convertible Notes and Warrants | 12 Months Ended | ||||
Mar. 31, 2014 | |||||
Notes | ' | ||||
Note 6 - Convertible Notes and Warrants | ' | ||||
NOTE 6 – CONVERTIBLE NOTES AND WARRANTS | |||||
Convertible Notes from Shareholders | |||||
The Company has debt outstanding to shareholders, which was issued between 2006 and 2009. The debt was not issued with warrants and some of the debt was not originally issued with a conversion feature. During fiscal years 2009 and 2010, the notes without conversion features were modified to contain a conversion feature, for which the Company recorded a loss on the modification. Convertible notes from shareholders issued during fiscal year 2010 contained a beneficial conversion feature, with the discount being amortized over the term of the note, see table below. | |||||
For the year ended March 31, 2014 | For the year ended March 31, 2013 | ||||
Convertible Notes | Accrued Interest | Convertible Notes | Accrued Interest | ||
Balance, beginning of period | $442,750 | $208,088 | $446,750 | $163,998 | |
Conversion to common stock | 114,057 | - | - | - | |
Accrued interest | - | 44,216 | - | 44,090 | |
Balance, end of period | $328,693 | $252,304 | $442,750 | $208,088 | |
Convertible notes from shareholders accrued interest at a rate of 10 percent per annum. The note holders had the sole option of converting the principal and interest represented by these notes into our common stock at a strike price equal to a $0.01. The note holders were only be allowed to convert shares or portion thereof to the extent that, at the time of the conversion, the conversion will not result in the note holders beneficially owning more than 9.9% of the issued and outstanding common shares of the Company. | |||||
In March 2014, the note holders agreed to modify the terms of the notes. The notes are now convertible at a fixed price of $0.26 and interest will no longer accrue on the remaining notes. The note holders were only be allowed to convert shares or portion thereof to the extent that, at the time of the conversion, the conversion will not result in the note holders beneficially owning more than 9.9% of the issued and outstanding common shares of the Company. | |||||
Warrants Outstanding | |||||
Number of Shares | Exercise Price | ||||
Outstanding at March 31, 2012 | 11,921,206 | $0.15-$0.10 | |||
Warrants issued | 443,560 | $0.15 | |||
Warrants exercised | - | - | |||
Warrants expired/cancelled | - | - | |||
Outstanding at March 31, 2013 | 12,364,766 | $0.15-$0.10 | |||
Warrants issued | 2,960,000 | $1.00-$2.00 | |||
Warrants exercised | - | - | |||
Warrants expired/cancelled | -12,364,766 | - | |||
Outstanding at March 31, 2014 | 2,960,000 | $1.00-$2.00 |
Note_7_Capital_Transactions
Note 7 - Capital Transactions | 12 Months Ended | |
Mar. 31, 2014 | ||
Notes | ' | |
Note 7 - Capital Transactions | ' | |
NOTE 7 – CAPITAL TRANSACTIONS | ||
Sale of Common Stock | ||
As of March 31, 2014, the Company sold 1,480,000 units through a private placement. Each unit consists of one share of common stock, one A warrant, expiring in three years, with an exercise price of $1.00 and one B warrant, expiring in five years, with an exercise price of $2.00. The price was $0.50 per unit. | ||
Asset Purchase | ||
On March 13, 2014, the Company, entered into a definitive agreement with Mr. Craig Ellins for the acquisition of assets The Assets include: | ||
• | a provisional patent application | |
• | concepts associated with the Mr. Ellins or his associates | |
• | trademarks | |
• | business plans | |
• | investor presentations and histories | |
• | websites | |
• | trade secrets including without limitation trade secrets involving nutrient mixes | |
• | drawings and digital artwork | |
• | raw materials | |
• | production equipment and related assets including without limitation electrical equipment, plastic molds and internal parts | |
• | proof-of-concept equipment | |
• | URL’s | |
In exchange for the Assets, the Company agreed to issue 12,500,000 restricted shares of the Company’s common stock. Of the total number of shares to be issued, 4,500,000 were issued upon the signing of the Agreement. The remainder of the shares will be issued upon reaching certain milestones. The shares were issued pursuant to the exemption from registration set forth in Section 4(2) of the Securities Act of 1933. | ||
Below are the assets purchased: | ||
Equipment | $29,722 | |
Intangibles (patent, trademarks, URL’s) | 3,735 | |
Total | $33,457 | |
The assets were valued at their historical cost. | ||
Employment Agreements | ||
Mr. Alan Gaines, our former Chief Executive Officer and Chairman, had entered into an Employment Agreement with the Company for a one-year term beginning May 2, 2011. Mr. Gaines would have been compensated with 12,012,413 shares of restricted common stock, payable upon the completion of a Qualified Acquisition or Qualified Equity Raise. An expense of $960,993 would have been recorded as stock compensation at the time a Qualified Acquisition or Qualified Equity Raise is completed. Upon the resignation of Mr. David on April 18, 2012, the shares were canceled and no expense was recognized. | ||
Dr. Amiel David, our former Chief Operating Officer, has entered into an Employment Agreement with the Company for a one-year term beginning May 2, 2011. Dr. David would have been compensated with 12,013,413 shares of restricted common stock, payable upon the completion of a Qualified Acquisition or Qualified Equity Raise. An expense of $961,073 would have been recorded as stock compensation at the time a Qualified Acquisition or Qualified Equity Raise is completed. Upon the resignation of Mr. David on April 18, 2012, the shares were canceled and no expense was recognized. | ||
Note Conversions | ||
During the year ended March 31, 2014, the Company converted a total of $114,013 of notes payable from certain Note Holders into common stock of the Company. The Company issued 438,681 shares of our common stock to satisfy the principal balances of the notes payable. |
Note_8_Stock_Option_Plan
Note 8 - Stock Option Plan | 12 Months Ended |
Mar. 31, 2014 | |
Notes | ' |
Note 8 - Stock Option Plan | ' |
NOTE 8 – STOCK OPTION PLAN | |
On February 6, 2008, the Board of Directors adopted the GrowBlox Sciences, Inc. 2007 Amended Stock Option Plan (“2007 Plan”). Under the 2007 Plan, 8,000,000 shares of the Company’s restricted common stock may be issuable upon the exercise of options issued to employees, advisors and consultants. | |
At March 31, 2014 the Company has no stock options outstanding. |
Note_9_Subsequent_Event
Note 9 - Subsequent Event | 12 Months Ended |
Mar. 31, 2014 | |
Notes | ' |
Note 9 - Subsequent Event | ' |
NOTE 9 – SUBSEQUENT EVENT | |
From April 2014 to June 2014, the Company converted a total of $1,015,459 of notes payable from certain Note Holders into common stock of the Company. The Company issued 3,905,612 shares of our common stock to satisfy the principal balances of the notes payable. | |
As of June 21, 2014, the Company sold 4,520,000 units through a private placement. Each unit consists of one share of common stock, one A warrant, expiring in three years, with an exercise price of $1.00 and one B warrant, expiring in five years, with an exercise price of $2.00. The price was $0.50 per unit. | |
On March 13, 2014 the Company entered into a definitive agreement (the “Agreement”) with Mr. Craig Ellins for the acquisition of assets. In accordance with the Agreement, Mr. Ellins was issued an additional four million shares upon the completion of a minimum of $1,000,000 in proceeds to the Company from fund raising on May 1, 2014. The shares were issued pursuant to the exemption from registration set forth in Section 4(2) of the Securities Act of 1933. | |
Subsequent to the fiscal year ended March 31, 2014, the Company issued 8,950,000 shares of common stock pursuant to the employment contracts of our three executive officers. Fifty thousand of the shares were paid directly to one of the officers. The remaining shares will be held by the Company until such time as certain milestones are reached and vesting periods have run. The issuance was exempt from the registration requirements of Section 5 of the Securities Act of 1933 pursuant to Section 4(2) of the Act because there was no public offering in connection with the issuance of the shares. |
Note_3_Summary_of_Significant_1
Note 3 - Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Mar. 31, 2014 | |
Policies | ' |
Development Stage Company | ' |
Development Stage Company. The Company is considered to be in the development stage. | |
Cash and Cash Equivalents | ' |
Cash and Cash Equivalents. The Company considers all short-term investments with an original maturity of three months or less when purchased to be cash equivalents. | |
Revenue Recognition | ' |
Revenue Recognition. Revenue associated with the production and sales of crude oil, natural gas, natural gas liquids and other natural resources owned by the Company will be recognized when production is sold to a purchaser at a fixed or determinable price when delivery has occurred and title passes from the Company to its customer, and if the collectability of the revenue is probable. | |
Use of Estimates | ' |
Use of Estimates. The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. | |
Property, Plant and Equipment | ' |
Property and Equipment. Property and equipment are stated at cost less accumulated depreciation. Depreciation is calculated using the straight-line method over the estimated useful lives of the assets: 3-8 years for machinery and equipment, leasehold improvements are amortized over the shorter of the estimated useful lives or the underlying lease term. Repairs and maintenance expenditures which do not extend the useful lives of related assets are expensed as incurred. | |
Income Taxes | ' |
Income Taxes. The Company recognizes deferred tax assets and liabilities for the expected future tax consequences of events that have been included in financial statements or tax returns. Deferred tax items are reflected at the enacted tax laws and statutory tax rates applicable to the periods in which the differences are expected reverse. Valuation allowances are established when necessary to reduce deferred tax assets to the amount expected to be realized. Due to the uncertainty regarding the success of future operations, management has valued the deferred tax asset allowance at 100% of the related deferred tax assets. | |
Loss Per Share | ' |
Loss per Share. The Company’s basic loss per share has been calculated using the weighted average number of common shares outstanding during the period. The Company has 8,757,106 potentially dilutive common shares at March 31, 2014. However, such common stock equivalents were not included in the computation of diluted net loss per share as their inclusion would have been anti-dilutive. |
Note_4_Fair_Value_Measurements1
Note 4 - Fair Value Measurements: Fair Value, Level 3 Instruments (Tables) | 12 Months Ended | ||||
Mar. 31, 2014 | |||||
Tables/Schedules | ' | ||||
Fair Value, Level 3 Instruments | ' | ||||
Fair Value Measurements March 31, 2014 | |||||
Level 1 | Level 2 | Level 3 | Total | ||
Convertible notes from stockholders, at fair value | $- | $- | $- | $- | |
Derivative liability | $- | $- | $- | $- | |
Fair Value Measurement March 31, 2013 | |||||
Level 1 | Level 2 | Level 3 | Total | ||
Convertible notes from stockholders, at fair value | $- | $- | $227,521 | $227,521 | |
Derivative liability | $- | $- | $260,311 | $260,311 |
Note_4_Fair_Value_Measurements2
Note 4 - Fair Value Measurements: Fair Value, Instruments Classified in Shareholders' Equity Measured on Recurring Basis, Unobservable Input Reconciliation (Tables) | 12 Months Ended | |||
Mar. 31, 2014 | ||||
Tables/Schedules | ' | |||
Fair Value, Instruments Classified in Shareholders' Equity Measured on Recurring Basis, Unobservable Input Reconciliation | ' | |||
Convertible Notes | Derivative Liability | Total | ||
Balance, March 31, 2012 | $308,255 | $334,497 | $308,255 | |
Realized and unrealized gains (losses); Included in other income (expense) | -101,701 | -97,575 | -199,276 | |
Purchases, issuances, and settlements | 20,967 | 23,389 | (44,356 | |
Balance, March 31, 2013 | $227,521 | $260,311 | $487,832 | |
Realized and unrealized gains (losses); Included in other income (expense) | 65,235 | 78,385 | 143,720 | |
Loss on extinguishment of debt | 756,719 | -197,671 | 559,048 | |
Purchases, issuances, and settlements | 14,843 | 15,745 | 30,588 | |
Balance, March 31, 2014 | $933,748 | $- | $933,748 |
Note_5_Deferred_Income_Taxes_S
Note 5 - Deferred Income Taxes: Schedule of Deferred Tax Assets and Liabilities (Tables) | 12 Months Ended | ||
Mar. 31, 2014 | |||
Tables/Schedules | ' | ||
Schedule of Deferred Tax Assets and Liabilities | ' | ||
2014 | 2013 | ||
Deferred tax assets: | |||
Net operating loss carryforward | $1,674,000 | $1,583,000 | |
Stock based compensation | - | - | |
Total deferred tax assets | 1,674,000 | 1,583,000 | |
Less valuation allowance | (1,674,000 | (1,583,000 | |
Net deferred tax asset | $- | $- |
Note_5_Deferred_Income_Taxes_S1
Note 5 - Deferred Income Taxes: Schedule of Effective Income Tax Rate Reconciliation (Tables) | 12 Months Ended | ||
Mar. 31, 2014 | |||
Tables/Schedules | ' | ||
Schedule of Effective Income Tax Rate Reconciliation | ' | ||
2014 | 2013 | ||
Tax benefit computed at U.S. statutory rates | ($229,000) | ($205,000) | |
Increases (decreases) in taxes resulting from: | |||
Non-deductible items | 145,000 | 22,000 | |
Change in valuation allowance | 91,000 | 198,000 | |
State taxes | -7,000 | -15,000 | |
Total | $- | $- |
Note_6_Convertible_Notes_and_W1
Note 6 - Convertible Notes and Warrants: Convertible Debt (Tables) | 12 Months Ended | ||||
Mar. 31, 2014 | |||||
Tables/Schedules | ' | ||||
Convertible Debt | ' | ||||
For the year ended March 31, 2014 | For the year ended March 31, 2013 | ||||
Convertible Notes | Accrued Interest | Convertible Notes | Accrued Interest | ||
Balance, beginning of period | $442,750 | $208,088 | $446,750 | $163,998 | |
Conversion to common stock | 114,057 | - | - | - | |
Accrued interest | - | 44,216 | - | 44,090 | |
Balance, end of period | $328,693 | $252,304 | $442,750 | $208,088 |
Note_6_Convertible_Notes_and_W2
Note 6 - Convertible Notes and Warrants: Schedule of Other Share-based Compensation, Activity (Tables) | 12 Months Ended | ||
Mar. 31, 2014 | |||
Tables/Schedules | ' | ||
Schedule of Other Share-based Compensation, Activity | ' | ||
Warrants Outstanding | |||
Number of Shares | Exercise Price | ||
Outstanding at March 31, 2012 | 11,921,206 | $0.15-$0.10 | |
Warrants issued | 443,560 | $0.15 | |
Warrants exercised | - | - | |
Warrants expired/cancelled | - | - | |
Outstanding at March 31, 2013 | 12,364,766 | $0.15-$0.10 | |
Warrants issued | 2,960,000 | $1.00-$2.00 | |
Warrants exercised | - | - | |
Warrants expired/cancelled | -12,364,766 | - | |
Outstanding at March 31, 2014 | 2,960,000 | $1.00-$2.00 |
Note_7_Capital_Transactions_As
Note 7 - Capital Transactions: Assets purchased (Tables) | 12 Months Ended | |
Mar. 31, 2014 | ||
Tables/Schedules | ' | |
Assets purchased | ' | |
Equipment | $29,722 | |
Intangibles (patent, trademarks, URL’s) | 3,735 | |
Total | $33,457 |
Note_1_Organization_and_Princi1
Note 1 - Organization and Principles of Consolidation (Details) (USD $) | 12 Months Ended | |
Mar. 31, 2014 | Mar. 31, 2013 | |
Details | ' | ' |
Date of Incorporation | 4-Apr-01 | ' |
Common stock, shares authorized | 250,000,000 | 250,000,000 |
Common stock, par or stated value | $0.00 | $0.00 |
Note_2_Basis_of_Presentation_D
Note 2 - Basis of Presentation (Details) (USD $) | 12 Months Ended | |
Mar. 31, 2014 | Mar. 31, 2013 | |
Details | ' | ' |
Retained Earnings (Accumulated Deficit) | $6,212,756 | ' |
Deficit accumulated during development stage | 4,536,533 | 3,880,579 |
Net cash used in operating activities | ($363,650) | ($37,447) |
Note_4_Fair_Value_Measurements3
Note 4 - Fair Value Measurements: Fair Value, Level 3 Instruments (Details) (USD $) | Mar. 31, 2014 | Mar. 31, 2013 |
Convertible notes from stockholders, at fair value | $0 | ' |
Derivative Liability | 0 | 260,311 |
Convertible notes from shareholders, at fair value | 933,748 | 227,521 |
Fair Value, Inputs, Level 1 | ' | ' |
Convertible notes from stockholders, at fair value | 0 | ' |
Derivative Liability | 0 | 0 |
Convertible notes from shareholders, at fair value | ' | 0 |
Fair Value, Inputs, Level 2 | ' | ' |
Convertible notes from stockholders, at fair value | 0 | ' |
Derivative Liability | 0 | 0 |
Convertible notes from shareholders, at fair value | ' | 0 |
Fair Value, Inputs, Level 3 | ' | ' |
Convertible notes from stockholders, at fair value | 0 | ' |
Derivative Liability | 0 | 260,311 |
Convertible notes from shareholders, at fair value | ' | $227,521 |
Note_4_Fair_Value_Measurements4
Note 4 - Fair Value Measurements: Fair Value, Instruments Classified in Shareholders' Equity Measured on Recurring Basis, Unobservable Input Reconciliation (Details) (USD $) | 12 Months Ended | ||
Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2012 | |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value | $933,748 | $487,832 | $308,255 |
Realized and unrealized gains (losses); Included in other income (expense) | 143,720 | -199,276 | ' |
Purchases, issuances, and settlements | 30,588 | -44,356 | ' |
Loss on extinguishment of debt | 559,048 | ' | ' |
Convertible Notes | ' | ' | ' |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value | 933,748 | 227,521 | 308,255 |
Realized and unrealized gains (losses); Included in other income (expense) | 65,235 | -101,701 | ' |
Purchases, issuances, and settlements | 14,843 | 20,967 | ' |
Loss on extinguishment of debt | 756,719 | ' | ' |
Derivative Liability | ' | ' | ' |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value | 0 | 260,311 | 334,497 |
Realized and unrealized gains (losses); Included in other income (expense) | 78,385 | -97,575 | ' |
Purchases, issuances, and settlements | 15,745 | 23,389 | ' |
Loss on extinguishment of debt | ($197,671) | ' | ' |
Note_4_Fair_Value_Measurements5
Note 4 - Fair Value Measurements (Details) (USD $) | 12 Months Ended |
Mar. 31, 2014 | |
Fair Value Assumptions, Expected Volatility Rate | 797.00% |
Fair Value Assumptions, Expected Dividend Rate | 0.00% |
Debt Instrument, Convertible, Conversion Price | $0.26 |
Loss on extinguishment of debt | $559,048 |
Minimum | ' |
Fair Value Assumptions, Risk Free Interest Rate | 0.18% |
Fair Value Assumptions, Expected Term | '1 year |
Maximum | ' |
Fair Value Assumptions, Risk Free Interest Rate | 0.63% |
Fair Value Assumptions, Expected Term | '4 years 10 months 13 days |
Note_5_Deferred_Income_Taxes_D
Note 5 - Deferred Income Taxes (Details) (USD $) | Mar. 31, 2014 |
Details | ' |
Operating Loss Carryforwards | $4,413,000 |
Note_5_Deferred_Income_Taxes_S2
Note 5 - Deferred Income Taxes: Schedule of Deferred Tax Assets and Liabilities (Details) (USD $) | Mar. 31, 2014 | Mar. 31, 2013 |
Deferred tax assets: | ' | ' |
net operating loss carryforward | $1,674,000 | $1,583,000 |
Stock based compensation | 0 | 0 |
Total deferred tax assets | 1,674,000 | 1,583,000 |
Less: Valuation Allowance | -1,674,000 | -1,583,000 |
Net Deferred Tax Asset | $0 | $0 |
Note_5_Deferred_Income_Taxes_S3
Note 5 - Deferred Income Taxes: Schedule of Effective Income Tax Rate Reconciliation (Details) (USD $) | 12 Months Ended | |
Mar. 31, 2014 | Mar. 31, 2013 | |
Details | ' | ' |
Tax benefit computed at U.S. statutory rates | ($229,000) | ($205,000) |
Increases (decreases) in taxes resulting from: | ' | ' |
Non-deductible items | 145,000 | 22,000 |
Change in valuation allowance | 91,000 | 198,000 |
State taxes | -7,000 | -15,000 |
Total | $0 | $0 |
Note_6_Convertible_Notes_and_W3
Note 6 - Convertible Notes and Warrants: Convertible Debt (Details) (USD $) | 12 Months Ended | |||
Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2012 | Mar. 31, 2010 | |
Details | ' | ' | ' | ' |
Convertible notes from shareholders | $328,693 | $442,750 | $446,750 | ' |
Accrued interest | 252,304 | 208,088 | 163,998 | ' |
Conversion to common stock | 114,057 | ' | 104,000 | 21,622 |
Increase (Decrease) in Interest Payable, Net | $44,216 | $44,090 | ' | ' |
Note_6_Convertible_Notes_and_W4
Note 6 - Convertible Notes and Warrants (Details) (USD $) | 12 Months Ended | |
Mar. 31, 2014 | Mar. 31, 2013 | |
Debt Instrument, Convertible, Conversion Price | $0.26 | ' |
Convertible Notes | ' | ' |
Debt Instrument, Interest Rate, Effective Percentage | ' | 10.00% |
Debt Instrument, Convertible, Conversion Price | $0.26 | $0.01 |
Debt Instrument, Convertible, Terms of Conversion Feature | 'The note holders were only be allowed to convert shares or portion thereof to the extent that, at the time of the conversion, the conversion will not result in the note holders beneficially owning more than 9.9% of the issued and outstanding common shares of the Company. | 'The note holders were only be allowed to convert shares or portion thereof to the extent that, at the time of the conversion, the conversion will not result in the note holders beneficially owning more than 9.9% of the issued and outstanding common shares of the Company. |
Note_6_Convertible_Notes_and_W5
Note 6 - Convertible Notes and Warrants: Schedule of Other Share-based Compensation, Activity (Details) (USD $) | 12 Months Ended | ||
Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2012 | |
Warrants, Outstanding | 2,960,000 | 12,364,766 | 11,921,206 |
Warrants, Issued | 2,960,000 | 443,560 | ' |
Warrants, Granted, Weighted Average Exercise Price | ' | $0.15 | ' |
Warrants, Exercised | 0 | 0 | ' |
Warrants, Exercised, Weighted Average Exercise Price | $0 | $0 | ' |
Warrants, Expired | 12,364,766 | 0 | ' |
Warrants, Expirations, Weighted Average Exercise Price | $0 | $0 | ' |
Warrants, Expired | -12,364,766 | 0 | ' |
Minimum | ' | ' | ' |
Warrants, Weighted Average Exercise Price | $1 | $0.15 | 0.15 |
Warrants, Granted, Weighted Average Exercise Price | $1 | ' | ' |
Maximum | ' | ' | ' |
Warrants, Weighted Average Exercise Price | $2 | $0.10 | 0.1 |
Warrants, Granted, Weighted Average Exercise Price | $2 | ' | ' |
Note_7_Capital_Transactions_De
Note 7 - Capital Transactions (Details) (USD $) | 12 Months Ended | |||
Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2012 | Mar. 31, 2010 | |
Stock sold through private placement | ' | 12,500 | ' | ' |
Common stock, shares issued | 7,268,948 | 850,110 | ' | ' |
Debt Conversion, Original Debt, Amount | ' | 114,013 | ' | ' |
Issuance of stock for debt conversions, Shares | ' | 438,681 | ' | ' |
Chief Executive Officer | ' | ' | ' | ' |
Restricted Common Stock forfeited | ' | 12,012,413 | ' | ' |
Stock Compensation Expense, forfeited | ' | 960,993 | ' | ' |
Chief Operating Officer | ' | ' | ' | ' |
Restricted Common Stock forfeited | ' | 12,013,413 | ' | ' |
Stock Compensation Expense, forfeited | ' | 961,073 | ' | ' |
Craig Ellins | ' | ' | ' | ' |
Common stock, shares issued | 12,500,000 | ' | ' | ' |
Craig Ellins | March 13, 2014 | ' | ' | ' | ' |
Common stock, shares issued | 4,500,000 | ' | ' | ' |
A Warrant | ' | ' | ' | ' |
Class of Warrant or Right, Exercise Price of Warrants or Rights | $1 | ' | ' | ' |
B Warrant | ' | ' | ' | ' |
Class of Warrant or Right, Exercise Price of Warrants or Rights | $2 | ' | ' | ' |
Common stock | ' | ' | ' | ' |
Stock sold through private placement | 1,480,000 | 1 | ' | ' |
Development Stage Entities, Equity Issuance, Per Share Amount | $0.50 | ' | ' | ' |
Issuance of stock for debt conversions, Shares | 438,681 | ' | 140,000 | 216,225 |
Convertible Notes | ' | ' | ' | ' |
Stock sold through private placement | 1,480,000 | ' | ' | ' |
Note_7_Capital_Transactions_As1
Note 7 - Capital Transactions: Assets purchased (Details) (USD $) | Mar. 31, 2014 | Mar. 31, 2013 |
Property and Equipment, net | $44,922 | $128 |
Intangibles (patent, trademarks, URL's) | 3,735 | ' |
Total | 33,457 | ' |
Craig Ellins | ' | ' |
Property and Equipment, net | $29,722 | ' |
Note_8_Stock_Option_Plan_Detai
Note 8 - Stock Option Plan (Details) | Mar. 31, 2014 |
Details | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 8,000,000 |
Note_9_Subsequent_Event_Detail
Note 9 - Subsequent Event (Details) (USD $) | 12 Months Ended | 12 Months Ended | 3 Months Ended | 3 Months Ended | ||||||||||||
Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2014 | Mar. 31, 2014 | Mar. 31, 2014 | Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2012 | Mar. 31, 2010 | Mar. 31, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | |
Craig Ellins | A Warrant | B Warrant | Common stock | Common stock | Common stock | Common stock | Convertible Notes | Subsequent Event | Subsequent Event | Subsequent Event | Subsequent Event | Subsequent Event | Subsequent Event | |||
Craig Ellins | A Warrant | B Warrant | Common stock | Convertible Notes | ||||||||||||
Debt Conversion, Original Debt, Amount | ' | $114,013 | ' | ' | ' | ' | ' | ' | ' | ' | $1,015,459 | ' | ' | ' | ' | ' |
Issuance of stock for debt conversions, Shares | ' | 438,681 | ' | ' | ' | 438,681 | ' | 140,000 | 216,225 | ' | 3,905,612 | ' | ' | ' | ' | ' |
Stock sold through private placement | ' | 12,500 | ' | ' | ' | 1,480,000 | 1 | ' | ' | 1,480,000 | ' | ' | ' | ' | ' | 4,520,000 |
Class of Warrant or Right, Exercise Price of Warrants or Rights | ' | ' | ' | $1 | $2 | ' | ' | ' | ' | ' | ' | ' | $1 | $2 | ' | ' |
Development Stage Entities, Equity Issuance, Per Share Amount | ' | ' | ' | ' | ' | $0.50 | ' | ' | ' | ' | ' | ' | ' | ' | $0.50 | ' |
Common stock, shares issued | 7,268,948 | 850,110 | 12,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | 4,000,000 | ' | ' | ' | ' |
Proceeds for sale of stock | $684,750 | ' | ' | ' | ' | ' | ' | ' | ' | ' | $1,000,000 | ' | ' | ' | ' | ' |
Common Stock issued pursuant to employment contracts | ' | ' | ' | ' | ' | ' | -2,402,682 | 2,402,682 | ' | ' | 8,950,000 | ' | ' | ' | ' | ' |