GB Sciences (GBLX) 10-Q 17 Feb 15 2015 Q3 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	9 Months Ended
	Dec. 31, 2014	Feb. 14, 2015
Document and Entity Information:
Entity Registrant Name	Growblox Sciences, Inc.
Document Type	10-Q
Document Period End Date	31-Dec-14
Amendment Flag	FALSE
Entity Central Index Key	1165320
Current Fiscal Year End Date	-28
Entity Common Stock, Shares Outstanding		34,904,926
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	2015
Document Fiscal Period Focus	Q3

Consolidated_Condensed_Balance

Consolidated Condensed Balance Sheets (unaudited) (USD $)	Dec. 31, 2014	Mar. 31, 2014
Current assets:
Cash	$282,143	$339,327
Accounts Receivable	150,000
Subscription Receivable		150,000
Other assets	454,520
Total current assets	886,663	489,327
Property and Equipment:
Property and Equipment, net	695,364	44,922
Intangible assets, net	3,555	3,735
Total property and equipment	698,919	48,657
Total assets	1,585,582	537,984
Current liabilities:
Accounts payable	243,739	19,762
Subscription payable	16,000	10,000
Accrued interest		252,304
Deferred revenue	55,627
Other accrued expenses		1,847
Notes from shareholders	5,000	5,000
Convertible notes from shareholders		1,262,441
Total current liabilities	320,366	1,551,354
Long-term liabilities
Deferred revenue	220,505
Total liabilities	540,871	1,551,354
Commitments and Contingencies
Stockholders' equity (deficiency):
Common stock, $0.0001 par value, 250,000,000 shares authorized 34,904,926 and 7,268,948 shares issued and outstanding at December 31, 2014 and March 31, 2014	3,490	727
Additional paid-in capital	11,094,781	5,198,659
Accumulated deficit	-9,949,955	-6,212,756
Total stockholders' equity (deficiency)	1,148,316	-1,013,370
Non-controlling interest	-103,605
Total equity	1,044,711	-1,013,370
Total liabilities and stockholders' equity (deficiency)	$1,585,582	$537,984

Condensed_Balance_Sheets_Paren

Condensed Balance Sheets (Parenthetical) (USD $)	Dec. 31, 2014	Mar. 31, 2014
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	34,904,926	7,268,948
Common Stock, shares outstanding	34,904,926	7,268,948

Consolidated_Condensed_Stateme

Consolidated Condensed Statements of Operations (unaudited) (USD $)	3 Months Ended		9 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2014	Dec. 31, 2013
Income Statement
Net revenue
Cost of revenue
Gross profit (loss)
General and administrative expenses	677,737	12,801	3,953,095	56,271
Loss from continuing operations	-677,737	-12,801	-3,953,095	-56,271
Other income/(expense)
Change in fair value of convertible notes		-70,570		65,335
Change in fair value of warrants		-86,955		78,385
Interest income			51
Interest expense	-283	-12,722		-38,749
Total other income/(expense)	-283	-170,247	51	104,971
Total income/(expense)	-678,020	-183,048	-3,953,044	48,700
Less net income (loss) attributable to non-controlling interests	-56,398		-216,105
Net income/(loss)	($621,622)	($183,048)	($3,736,939)	$48,700
Weighted average common shares outstanding - basic and diluted	33,495,053	850,110	28,175,582	850,110
Net income/( loss) per share - basic and diluted	($0.02)	$0.31	($0.13)	$0.06

Condensed_Consolidated_Stateme

Condensed Consolidated Statements of Cash Flows (USD $)	9 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Cash flows from operating activities:
Net loss	($3,736,939)	$48,700
Less net loss attributable to non-controlling interest	-216,105
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation expense	4,813	128
Amortization expense	130
Stock compensation	784,819
Non-cash interest		5,619
Change in fair value of convertible notes		-65,335
Change in fair value of warrants		-78,385
Changes in operating assets and liabilities:
Accounts receivable	-150,000
Stock subscription receivable	150,000
Deferred revenue - current	55,627
Other assets	-454,520
Accounts payable	222,128	-475
Stock subscription payable	25,250
Accrued expenses		56,372
Net cash used in operating activities	-3,314,797	-33,376
Cash flows from investing activities:
Purchase of property and equipment	-655,204
Net cash used in investing activities	-655,204
Cash flows from financing activities:
Stock returned	150
Proceeds from issuance of stock	3,579,662
Deferred revenue from licensing	220,505
Proceeds from non-controlling interest	112,500
Proceeds from issuance of debt to stockholders		31,000
Net cash provided by financing activities	3,912,817	31,000
Net increase (decrease) in cash	-57,184	-2,376
Cash, beginning of year	339,327	2,427
Cash, end of December 31, 2014	282,143	51
Supplemental disclosures of cash flow information:
Cash paid during the year for: Interest
Non-cash investing and financing activities:
Stock issued to settle convertible debt	1,262,411
Stock issued to settle interest expense	$252,304

Note_1_Basis_of_Presentation

Note 1 - Basis of Presentation	9 Months Ended
	Dec. 31, 2014
Notes
Note 1 - Basis of Presentation	NOTE 1 – BASIS OF PRESENTATION
	The accompanying unaudited condensed financial statements have been prepared by the Company, pursuant to the rules and regulations of the U. S. Securities and Exchange Commission for Form 10-Q.  Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been omitted pursuant to such rules and regulations.  The unaudited condensed financial statements included herein reflect all adjustments (consisting only of normal recurring adjustments) which are, in the opinion of management, necessary for a fair presentation of the financial position and operating results for the interim period.  Interim results are not necessarily indicative of the results that may be expected for the year.  The unaudited condensed financial statements should be read in conjunction with the condensed financial statements and notes thereto, together with management’s discussion and analysis of financial condition and results of operation, for the year ended March 31, 2014, contained in the Company’s March 31, 2014 Annual Report on Form 10-K.
	The Company’s consolidated 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 $9,949,955 as of December 31, 2014. 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. Management believes that its current and future plans provide an opportunity to continue as a going concern. The accompanying condensed 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_2_Organization

Note 2 - Organization	9 Months Ended
	Dec. 31, 2014
Notes
Note 2 - Organization	NOTE 2 – ORGANIZATION
	Reporting Entity  . Overview
	Growblox’s business pursuit is to be a pioneer and leader in the medical marijuana industry by combining state of the art cultivation and extraction techniques with biotechnology. The Company’s cultivation, curing and extraction technology provide for the production of consistent medical-grade cannabis and cannabinoid therapies. These cannabis strains and therapies will be developed and targeted to specific medical conditions, including pancreatic cancer, Parkinson’s disease, Alzheimer’s disease and epilepsy, as well as pain therapies.  The Company has compiled a data base of the significant cannabinoid research being conducted around the world and is designing and implementing its own research and development which has, and will continue to be, peer reviewed.   The Company believes that its suite of proprietary technology that includes tissue culture, cultivation, curing and extraction of cannabis and cannabinoids, combined with specific strain selection, will allow it to provide the highest quality, consistent and efficacious cannabinoid therapies to patients.
	Our mission is to create a trusted brand of technology that empowers patients with access to the benefits of medicinal-grade cannabis, and to become the trusted producer of consistent and efficacious medicinal cannabis strains and product lines. Our focus is to bring to market, cutting-edge technologies to commercially cultivate and produce medical-grade cannabis and cannabis concentrates.
	We believe that these medical-grade products will provide patients with valuable medicines that make a real difference to their quality of life. Please note however that our belief in the medical viability of cannabis related products is contrary to the position taken by the United States federal government and its agencies that cannabis has no medical benefit.
	The Company’s current and short term business plan involves research and development in the growing and processing of cannabis products for medicinal purposes and in obtaining state licenses for the production and sale of cannabis products. These activities are not in violation of Federal Law. The Company’s long term business plan is to operate within the parameters of any state licenses obtained, which activities we believe will violate federal laws as presently constituted. If the Company is successful in obtaining state licenses and operating pursuant to those licenses and if federal law does not change, we believe the Company will be in violation of federal law which will likely have material adverse consequences to our business.
	Recent Developments
	On November 3, 2104, our majority owned subsidiary obtained a provisional license from Clark County, Nevada and the City of Las Vegas to grow and process cannabis products for medicinal purposes within such areas.  Our license applications to distribute cannabis were denied. Accordingly, in Nevada the Company is currently completing the licensing process to cultivate cannabis. Distribution of the cultivated cannabis will have to be conducted be through retailers who have received cannabis distribution licenses.  We intend to go forward with cultivation operations in Clark County utilizing our proprietary GrowBLOXTM technology, and will reapply for a separate license to establish dispensary operations. Although we believe that a dispensary license will ultimately be granted to the Company by Clark County and the City of Las Vegas, there can be no assurance that such efforts will be successful.
	On July 25, 2014 the Company filed a S-1 general form for registration of securities under the Securities Act of 1933, which became effective February 12, 2015.

Note_3_Summary_of_Significant_

Note 3 - Summary of Significant Accounting Policies	9 Months Ended
	Dec. 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.
	Accounts Receivable.  Accounts receivable are recorded at the time of sale and at the amount realizable from the transaction. An allowance for doubtful accounts is recorded for any amounts deemed uncollectible.  The Company does not accrue interest receivable on past due accounts receivable. There was no allowance recorded at December 31, 2014 and March 31, 2014.
	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, 3-5 years for information technology and 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.
	Other Assets. Other assets include security deposits on our warehouses and potential retail locations in Las Vegas, Nevada.
	Research and Development Costs. Research and development costs are expensed as incurred.
	Net Loss Per Common Share.  Net loss per common share, in accordance with the provisions of ASC 260, “Earnings Per Share” is computed by dividing net loss by the weighted average number of shares of Common Stock outstanding during the period. During a loss period, the effect of the potential exercise of stock options, warrants, convertible preferred stock and convertible debt are not considered in the diluted income (loss) per share calculation since the effect would be anti-dilutive. The Company had 8,756,707 at March 31, 2014. The results of operations were a net loss for the nine months ended December 31, 2014 therefore the basic and diluted weighted average commons shares outstanding were the same.
	Going Concern. The Company’s future success is dependent upon its ability to achieve profitable operations and generate cash from operating activities, and upon additional financing.  Management believes they can raise the appropriate funds needed to support their business plan and develop and operating company, which is cash flow positive. As of December 31, 2014 the Company has incurred a cumulative deficit of $9,949,955. The Company has been unable to generate sufficient cash from operating activities to fund its ongoing operations. There is no guarantee that the Company will be able to generate enough revenue and/or raise capital to support its operations.  These factors raise substantial doubt about the Company’s ability to continue as a going concern.
	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.
	Equity-Based Compensation
	The computation of the expense associated with stock-based compensation requires the use of a valuation model. The FASB issued accounting guidance requires significant judgment and the use of estimates, particularly surrounding Black-Scholes assumptions such as stock price volatility, expected option lives, and expected option forfeiture rates, to value equity-based compensation. We currently use a Black-Scholes option pricing model to calculate the fair value of our stock options. We primarily use historical data to determine the assumptions to be used in the Black-Scholes model and have no reason to believe that future data is likely to differ materially from historical data. However, changes in the assumptions to reflect future stock price volatility and future stock award exercise experience could result in a change in the assumptions used to value awards in the future and may result in a material change to the fair value calculation of stock-based awards. This accounting guidance requires the recognition of the fair value of stock compensation in net income. Although every effort is made to ensure the accuracy of our estimates and assumptions, significant unanticipated changes in those estimates, interpretations and assumptions may result in recording stock option expense that may materially impact our financial statements for each respective reporting period.
	Revenue Recognition
	Revenue is recognized when persuasive evidence of an arrangement exists, delivery has occurred, or services have been rendered, the price is fixed or determinable, and collectability is reasonably assured. Revenue is recorded net of discount, rebates, promotional adjustments, price adjustments and estimated returns and upon transfer of title and risk to the customer which occurs at shipment (F.O.B. terms). Upon shipment, the Company has no further performance obligations and collection is reasonable assured as the majority of sales are paid for prior to shipping.
	Revenue was generated from a one-time non-refundable fee and licensing agreement for the sale of a prototype TBlox machine as designed by Growblox Sciences, Inc. The revenue was recorded as deferred until such time the Company earns the licensing fees.  The amortization of the licensing fees will begin in January 2015.
	Recent Accounting Pronouncements
	There were no recently issued accounting pronouncements that will have a material impact on the Company’s financial statements

Note_4_Convertible_Notes_and_W

Note 4 - Convertible Notes and Warrants	9 Months Ended
	Dec. 31, 2014
Notes
Note 4 - Convertible Notes and Warrants	NOTE 4 – CONVERTIBLE NOTES AND WARRANTS
	Following is the table of outstanding warrants at December 31, 2014.
		Warrants Outstanding
	Outstanding at March 31, 2014	2,960,000	$1.00-$2.00
	Warrants issued	12,038,446	$0.55-$2.00
	Warrants exercised	-
	Warrants expired/cancelled
	Outstanding at September 30 and December 31, 2014	14,995,446	$0.55-$2.00

Note_5_Property_and_Equipment

Note 5 - Property and Equipment	9 Months Ended
	Dec. 31, 2014
Notes
Note 5 - Property and Equipment	NOTE 5 – PROPERTY AND EQUIPMENT
	Following is the table of property and equipment December 31, 2014.
		31-Dec-14	31-Mar-14
	Equipment	$701,022	$49,562
	Accumulated Depreciation	-5,658	-4,640
		$695,364	$44,922

Note_6_Litigation

Note 6- Litigation	9 Months Ended
	Dec. 31, 2014
Notes
Note 6- Litigation	NOTE 6– LITIGATION
	On April 2, 2014, the Company commenced an action in the United States District Court for the Southern District of New York against GCM Administrative Services, LLC (“GCM”), Strategic Turnaround Equity Partners, L.P., Gary Herman, and Seth M. Lukash.  The action was brought for the purpose of determining where the defendants or any of them were entitled to receive stock in the Company pursuant to conversion rights held under promissory notes given by an affiliate of the Company.  The counterclaims were for declaratory judgment, damages for breach of fiduciary duty and unjust enrichment, a money award for quantum merit, and for breach of contract for f\refusing to convert the notes into shares. No specific amount of money damages is identified in the counter \claims.  The Company believes the court will rule that there are no conversion rights pursuant to which the Company will be required to issue stock and that the counterclaims are without merit. Subsequently the Company filed a motion to dismiss and are waiting on the ruling.  There can be no assurance the case will be dismissed or end in favorable results toward the Company.

Note_3_Summary_of_Significant_1

Note 3 - Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Dec. 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.
Accounts Receivable	Accounts Receivable.  Accounts receivable are recorded at the time of sale and at the amount realizable from the transaction. An allowance for doubtful accounts is recorded for any amounts deemed uncollectible.  The Company does not accrue interest receivable on past due accounts receivable. There was no allowance recorded at December 31, 2014 and March 31, 2014.
Property 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, 3-5 years for information technology and 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.
Other Assets	Other Assets. Other assets include security deposits on our warehouses and potential retail locations in Las Vegas, Nevada.
Research and Development Costs	Research and Development Costs. Research and development costs are expensed as incurred.
Net Loss Per Common Share	Net Loss Per Common Share.  Net loss per common share, in accordance with the provisions of ASC 260, “Earnings Per Share” is computed by dividing net loss by the weighted average number of shares of Common Stock outstanding during the period. During a loss period, the effect of the potential exercise of stock options, warrants, convertible preferred stock and convertible debt are not considered in the diluted income (loss) per share calculation since the effect would be anti-dilutive. The Company had 8,756,707 at March 31, 2014. The results of operations were a net loss for the nine months ended December 31, 2014 therefore the basic and diluted weighted average commons shares outstanding were the same.
Going Concern	Going Concern. The Company’s future success is dependent upon its ability to achieve profitable operations and generate cash from operating activities, and upon additional financing.  Management believes they can raise the appropriate funds needed to support their business plan and develop and operating company, which is cash flow positive. As of December 31, 2014 the Company has incurred a cumulative deficit of $9,949,955. The Company has been unable to generate sufficient cash from operating activities to fund its ongoing operations. There is no guarantee that the Company will be able to generate enough revenue and/or raise capital to support its operations.  These factors raise substantial doubt about the Company’s ability to continue as a going concern.
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.
Equity-based Compensation	Equity-Based Compensation
	The computation of the expense associated with stock-based compensation requires the use of a valuation model. The FASB issued accounting guidance requires significant judgment and the use of estimates, particularly surrounding Black-Scholes assumptions such as stock price volatility, expected option lives, and expected option forfeiture rates, to value equity-based compensation. We currently use a Black-Scholes option pricing model to calculate the fair value of our stock options. We primarily use historical data to determine the assumptions to be used in the Black-Scholes model and have no reason to believe that future data is likely to differ materially from historical data. However, changes in the assumptions to reflect future stock price volatility and future stock award exercise experience could result in a change in the assumptions used to value awards in the future and may result in a material change to the fair value calculation of stock-based awards. This accounting guidance requires the recognition of the fair value of stock compensation in net income. Although every effort is made to ensure the accuracy of our estimates and assumptions, significant unanticipated changes in those estimates, interpretations and assumptions may result in recording stock option expense that may materially impact our financial statements for each respective reporting period.
Revenue Recognition	Revenue Recognition
	Revenue is recognized when persuasive evidence of an arrangement exists, delivery has occurred, or services have been rendered, the price is fixed or determinable, and collectability is reasonably assured. Revenue is recorded net of discount, rebates, promotional adjustments, price adjustments and estimated returns and upon transfer of title and risk to the customer which occurs at shipment (F.O.B. terms). Upon shipment, the Company has no further performance obligations and collection is reasonable assured as the majority of sales are paid for prior to shipping.
	Revenue was generated from a one-time non-refundable fee and licensing agreement for the sale of a prototype TBlox machine as designed by Growblox Sciences, Inc. The revenue was recorded as deferred until such time the Company earns the licensing fees.  The amortization of the licensing fees will begin in January 2015.
Recent Accounting Pronouncements	Recent Accounting Pronouncements
	There were no recently issued accounting pronouncements that will have a material impact on the Company’s financial statements

Note_4_Convertible_Notes_and_W1

Note 4 - Convertible Notes and Warrants: Schedule of Outstanding Warrants (Tables)	9 Months Ended
	Dec. 31, 2014
Tables/Schedules
Schedule of Outstanding Warrants
		Warrants Outstanding
	Outstanding at March 31, 2014	2,960,000	$1.00-$2.00
	Warrants issued	12,038,446	$0.55-$2.00
	Warrants exercised	-
	Warrants expired/cancelled
	Outstanding at September 30 and December 31, 2014	14,995,446	$0.55-$2.00

Note_5_Property_and_Equipment_

Note 5 - Property and Equipment: Property and Equipment (Tables)	9 Months Ended
	Dec. 31, 2014
Tables/Schedules
Property and Equipment
		31-Dec-14	31-Mar-14
	Equipment	$701,022	$49,562
	Accumulated Depreciation	-5,658	-4,640
		$695,364	$44,922

Note_1_Basis_of_Presentation_D

Note 1 - Basis of Presentation (Details) (USD $)	Dec. 31, 2014	Mar. 31, 2014
Details
Accumulated deficit	($9,949,955)	($6,212,756)

Note_3_Summary_of_Significant_2

Note 3 - Summary of Significant Accounting Policies: Accounts Receivable (Details) (USD $)	Dec. 31, 2014	Mar. 31, 2014
Details
Allowance for Doubtful Accounts Receivable	$0	$0

Note_3_Summary_of_Significant_3

Note 3 - Summary of Significant Accounting Policies: Property and Equipment (Details) (Machinery and Equipment)	9 Months Ended
	Dec. 31, 2014
Minimum
Property, Plant and Equipment, Useful Life	3 years
Maximum
Property, Plant and Equipment, Useful Life	8 years

Note_3_Summary_of_Significant_4

Note 3 - Summary of Significant Accounting Policies: Net Loss Per Common Share (Details) (Common stock)	9 Months Ended
	Dec. 31, 2014
Common stock
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	8,756,707

Note_3_Summary_of_Significant_5

Note 3 - Summary of Significant Accounting Policies: Going Concern (Details) (USD $)	Dec. 31, 2014	Mar. 31, 2014
Details
Accumulated deficit	($9,949,955)	($6,212,756)

Note_4_Convertible_Notes_and_W2

Note 4 - Convertible Notes and Warrants: Schedule of Outstanding Warrants (Details) (USD $)	9 Months Ended
	Dec. 31, 2014
Warrants, Outstanding	2,960,000
Warrants, Issued	12,038,446
Warrants, Exercised	0
Warrants, Outstanding	14,995,446
Minimum
Warrants, Weighted Average Exercise Price	1
Warrants, Granted, Weighted Average Exercise Price	0.55
Warrants, Weighted Average Exercise Price	0.55
Maximum
Warrants, Weighted Average Exercise Price	2
Warrants, Granted, Weighted Average Exercise Price	2
Warrants, Weighted Average Exercise Price	2

Note_5_Property_and_Equipment_1

Note 5 - Property and Equipment: Property and Equipment (Details) (USD $)	Dec. 31, 2014	Mar. 31, 2014
Details
Equipment	$701,022	$49,562
Accumulated Depreciation	-5,658	-4,640
Property and Equipment, net	$695,364	$44,922