Sundance Strategies (SUND) 10-Q 14 Nov 22 2023 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Sep. 30, 2022	Nov. 14, 2022
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Sep. 30, 2022
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2023
Current Fiscal Year End Date	--03-31
Entity File Number	000-50547
Entity Registrant Name	SUNDANCE STRATEGIES, INC.
Entity Central Index Key	0001171838
Entity Tax Identification Number	88-0515333
Entity Incorporation, State or Country Code	NV
Entity Address, Address Line One	4626 North 300 West
Entity Address, Address Line Two	Suite No. 365
Entity Address, City or Town	Provo
Entity Address, State or Province	UT
Entity Address, Postal Zip Code	84604
City Area Code	(801)
Local Phone Number	717-3935
Title of 12(b) Security	Common Stock, $0.001 par value
Trading Symbol	SUND
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Elected Not To Use the Extended Transition Period	true
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		41,408,441

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($)	Sep. 30, 2022	Mar. 31, 2022
Current Assets
Cash and cash equivalents	$ 498	$ 267,966
Prepaid expenses and other assets	1,167	8,167
Total Current Assets	1,665	276,133
Current Liabilities
Accounts payable	665,270	580,972
Accrued expenses	455,039	354,205
Notes payable	300,000	300,000
Current portion of notes payable, related parties	876,000	876,000
Stock repurchase payable	400,000	400,000
Total Current Liabilities	2,696,309	2,511,177
Long-Term Liabilities
Accrued expenses	758,952	666,015
Notes payable, related parties, net of current portion	2,125,808	2,125,808
Total Long-Term Liabilities	2,884,760	2,791,823
Total Liabilities	5,581,069	5,303,000
Stockholders’ Deficit
Preferred stock, authorized 10,000,000 shares, par value $0.001; -0- shares issued and outstanding
Common stock, authorized 500,000,000 shares, par value $0.001; 41,408,441 shares issued and outstanding as of September 30, and March 31, 2022	41,409	41,409
Additional paid-in capital	27,181,618	27,181,618
Accumulated deficit	(32,802,431)	(32,249,894)
Total Stockholders’ Deficit	(5,579,404)	(5,026,867)
Total Liabilities and Stockholders’ Deficit	$ 1,665	$ 276,133

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Sep. 30, 2022	Mar. 31, 2022
Statement of Financial Position [Abstract]
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, shares authorized	500,000,000	500,000,000
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares issued	41,408,441	41,408,441
Common stock, shares outstanding	41,408,441	41,408,441

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Income Statement [Abstract]
Income from Investments
General and Administrative Expenses	161,534	172,144	375,491	415,605
Loss from Operations	(161,534)	(172,144)	(375,491)	(415,605)
Other Income (Expense)
Gain on settlement of liabilities				285,192
Interest expense	(75,907)	(68,352)	(150,046)	(133,737)
Financing expense	(13,500)	(10,000)	(27,000)	(87,561)
Total Other Income (Expense)	(89,407)	(78,352)	(177,046)	63,894
Loss Before Income Taxes	(250,941)	(250,496)	(552,537)	(351,711)
Income Tax Provision (Benefit)		4,149		4,149
Net Loss	$ (250,941)	$ (254,645)	$ (552,537)	$ (355,860)
Loss per share - basic and diluted	$ (0.01)	$ (0.01)	$ (0.01)	$ (0.01)
Weighted average shares outstanding - basic and diluted	41,408,441	41,308,441	41,408,441	41,086,702

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Stockholders' Deficit (Unaudited) - USD ($)	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Total
Beginning balance, value at Mar. 31, 2021	$ 40,109	$ 24,728,638	$ (29,484,809)	$ (4,716,062)
Beginning balance, shares at Mar. 31, 2021	40,108,441
Net loss			(101,215)	(101,215)
Common stock issued for director compensation	$ 1,200	54,240		55,440
Common stock issued for director compensation, shares	1,200,000
Ending balance, value at Jun. 30, 2021	$ 41,309	24,782,878	(29,586,024)	(4,761,837)
Beginning balance, shares at Jun. 30, 2021	41,308,441
Beginning balance, value at Mar. 31, 2021	$ 40,109	24,728,638	(29,484,809)	(4,716,062)
Beginning balance, shares at Mar. 31, 2021	40,108,441
Net loss				(355,860)
Ending balance, value at Sep. 30, 2021	$ 41,309	24,801,358	(29,840,669)	(4,998,002)
Beginning balance, shares at Sep. 30, 2021	41,308,441
Beginning balance, value at Jun. 30, 2021	$ 41,309	24,782,878	(29,586,024)	(4,761,837)
Beginning balance, shares at Jun. 30, 2021	41,308,441
Net loss			(254,645)	(254,645)
Stock-based compensation - director shares		18,480		18,480
Ending balance, value at Sep. 30, 2021	$ 41,309	24,801,358	(29,840,669)	(4,998,002)
Beginning balance, shares at Sep. 30, 2021	41,308,441
Beginning balance, value at Mar. 31, 2022	$ 41,409	27,181,618	(32,249,894)	(5,026,867)
Beginning balance, shares at Mar. 31, 2022	41,408,441
Net loss			(301,596)	(301,596)
Ending balance, value at Jun. 30, 2022	$ 41,409	27,181,618	(32,551,490)	(5,328,463)
Beginning balance, shares at Jun. 30, 2022	41,408,441
Beginning balance, value at Mar. 31, 2022	$ 41,409	27,181,618	(32,249,894)	(5,026,867)
Beginning balance, shares at Mar. 31, 2022	41,408,441
Net loss				(552,537)
Ending balance, value at Sep. 30, 2022	$ 41,409	27,181,618	(32,802,431)	(5,579,404)
Beginning balance, shares at Sep. 30, 2022	41,408,441
Beginning balance, value at Jun. 30, 2022	$ 41,409	27,181,618	(32,551,490)	(5,328,463)
Beginning balance, shares at Jun. 30, 2022	41,408,441
Net loss			(250,941)	(250,941)
Ending balance, value at Sep. 30, 2022	$ 41,409	$ 27,181,618	$ (32,802,431)	$ (5,579,404)
Beginning balance, shares at Sep. 30, 2022	41,408,441

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Operating Activities
Net Loss	$ (250,941)	$ (254,645)	$ (552,537)	$ (355,860)
Adjustments to reconcile to net cash used in operating activities:
Share based compensation - common stock				73,920
Gain on settlement of liabilities				(285,192)
Changes in operating assets and liabilities
Prepaid expenses and other assets			7,000	(8,250)
Accounts payable			84,298	(57,267)
Accrued expenses			193,771	152,409
Net Cash used in Operating Activities			(267,468)	(480,240)
Financing Activities
Proceeds from issuance of notes payable, related party				160,000
Proceeds from issuance of notes payable				300,000
Net Cash provided by Financing Activities				460,000
Net Change in Cash and Cash Equivalents			(267,468)	(20,240)
Cash and Cash Equivalents at Beginning of Period			267,966	21,179
Cash and Cash Equivalents at End of Period	$ 498	$ 939	498	939
Supplemental disclosure of cash flow information:
Cash paid for interest
Cash paid for income taxes

BASIS OF PRESENTATION, ORGANIZA

BASIS OF PRESENTATION, ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
	Sep. 30, 2022
Accounting Policies [Abstract]
BASIS OF PRESENTATION, ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	(1) BASIS OF PRESENTATION, ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States (“GAAP”) and applicable rules and regulations of the Securities and Exchange Commission (“SEC”) regarding interim financial reporting and reflect the financial position, results of operations and cash flows of the Company. Certain information and note disclosures normally included in the financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations. As such, these unaudited condensed consolidated financial statements should be read in conjunction with the audited financial statements and accompanying notes included in the Company’s Annual Report on Form 10-K for the fiscal year ended March 31, 2022, which was filed with the SEC on June 29, 2022. The results from operations for the three and six-month periods ended September 30, 2022, are not necessarily indicative of the results that may be expected for the fiscal year ended March 31, 2023. In the opinion of management, all adjustments (which include only normal recurring adjustments) necessary to present fairly the financial position, results of operations, stockholders’ equity, and cash flows at June 30, 2022 and for all periods presented herein have been made. The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts and the disclosure of contingent amounts in the Company’s financial statements and the accompanying notes. Actual results could materially differ from those estimates. Organization and Nature of Operations Sundance Strategies, Inc. (formerly known as Java Express, Inc.) was organized under the laws of the State of Nevada on December 14, 2001, and engaged in the retail selling of beverage products to the general public until these endeavors ceased in 2006; it had no material business operations from 2006, until its acquisition of ANEW LIFE, INC. (“ANEW LIFE”), a subsidiary of Sundance Strategies, Inc. (“Sundance Strategies”, “the Company”, “we” or “our”). Our historical business model has focused on purchasing or acquiring life insurance policies and residual interests in or financial products tied to life insurance policies, including notes, drafts, acceptances, open accounts receivable and other obligations representing part of or all of the sales price of insurance, life settlements and related insurance contracts being traded in the secondary marketplace, often referred to as the “life settlements market.” During the latter part of the fiscal year ended March 31, 2021, the Company began developing an additional business offering, providing professional services to specialty structured finance groups, bond issuers and life settlement aggregators. The Company has now assembled an experienced team from the life settlement marketplace, as well as from other areas such as financial services and public financial markets. As a professional services provider, the Company applies industry best practices to advise on the selection of specific portfolios of life insurance policies that are tailored to meet the needs of its clients. The Company’s clients may include bond issuers, bond investors, or other structured finance product issuers. The Company develops strategies and methodologies which include the acquisition of life insurance portfolios, then uses common structured finance techniques and proprietary analytics to structure bonds for issuances, including principal protected bonds. The Company’s goal is to deliver long-term value and profitability to shareholders by growing the Company’s professional services business and asset base, resulting in the ability to pay dividends to its shareholders. SUNDANCE STRATEGIES, INC. AND SUBSIDIARY NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited) September 30, 2022 On January 1, 2022, we entered into a marketing and consulting agreement with Tradability, LLC (“Consultant”) that requires us to make an initial $ 100,000 400,000 400,000 1,000,000 10,000,000 1.00 2.50 500 100 500 Significant Accounting Policies There have been no changes to the significant accounting policies of the Company from the information provided in Note 2 of the Notes to Consolidated Financial Statements in the Company’s most recent Form 10-K, except as discussed below. Basic and Diluted Net Income (Loss) Per Common Share Basic net loss per common share is computed by dividing net loss by the weighted average number of common shares outstanding during the periods presented using the treasury stock method. Diluted net loss per common share is computed by including common shares that may be issued subject to existing rights with dilutive potential, when applicable. Potential dilutive common stock equivalents are primarily comprised of potential dilutive shares resulting from convertible debt agreements and common stock warrants. Potentially dilutive shares resulting from convertible debt agreements are evaluated using the if-converted method. Potentially dilutive securities are not included in the calculation of diluted net loss per share for the three and six months ended September 30, 2022 and 2021, because to do so would be anti-dilutive. Potentially dilutive securities outstanding as of September 30, 2022 and 2021 are comprised of warrants convertible into 7,250,241 4,758,754 New Accounting Pronouncements Adopted During the Six Months Ended September 30, 2022 In May 2021, the FASB issued ASU 2021-04 Issuer’s Accounting for Certain Modifications or Exchanges of Freestanding Equity Classified Written Call Options. This ASU clarifies an issuer’s accounting for certain modifications or exchanges of freestanding equity-classified written call options (for example, warrants) that remain equity classified after modification or exchange. Specifically, it provides a principles-based framework to determine whether an issuer should recognize the modification or exchange as an adjustment to equity or an expense. The amendment is effective for fiscal years beginning after December 15, 2021, and interim periods therein. The Company adopted the new guidance as of April 1, 2022, and used the framework to record modification to the exercise price of equity classified warrants during the six months ended September 30, 2022. Not Yet Adopted The Company has reviewed all recently issued, but not yet adopted, accounting standards, in order to determine their effects, if any, on its results of operations, financial position or cash flows. Based on that review, the Company believes that none of these pronouncements will have a significant effect on its financial statements. SUNDANCE STRATEGIES, INC. AND SUBSIDIARY NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited) September 30, 2022

LIQUIDITY REQUIREMENTS

LIQUIDITY REQUIREMENTS	6 Months Ended
	Sep. 30, 2022
Liquidity Requirements
LIQUIDITY REQUIREMENTS	(2) LIQUIDITY REQUIREMENTS Since the Company’s inception on January 31, 2013, its operations have been primarily financed through sales of equity, debt financing from related parties and the issuance of notes payable and convertible debentures. As of September 30, 2022, the Company had $ 498 267,966 4,604,192 3,000,000 62,500 13,500 400,000 665,270 The outbreak of COVID-19 originated in Wuhan, China, in December 2019 and has since spread to multiple countries, including the United States and several European countries. On March 11, 2020, the World Health Organization declared the outbreak a pandemic. The COVID-19 pandemic is affecting the United States and global economies and may affect the Company’s operations and those of third parties on which the Company relies. While the potential economic impact brought by, and the duration of, the COVID-19 pandemic is difficult to assess or predict, the impact of the COVID-19 pandemic on the global financial markets may reduce the Company’s ability to access capital, which could negatively impact the Company’s short-term and long-term liquidity. The ultimate impact of the COVID-19 pandemic is highly uncertain and subject to change. The Company does not yet know the full extent of potential delays or impacts on its business, financing or other activities or on healthcare systems or the global economy as a whole. However, these effects could have a material impact on the Company’s liquidity, capital resources, operations and business and those of the third parties on which we rely. The accompanying financial statements have been prepared on a going concern basis under which the Company is expected to be able to realize its assets and satisfy its liabilities in the normal course of business.

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	6 Months Ended
	Sep. 30, 2022
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	(3) FAIR VALUE MEASUREMENTS As defined by ASC Topic 820, “Fair Value Measurements and Disclosures” (“ASC 820”), fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. ASC 820 also requires the consideration of differing levels of inputs in the determination of fair values. Those levels of input are summarized as follows: ● Level 1: Quoted prices in active markets for identical assets and liabilities. ● Level 2: Observable inputs other than Level 1 quoted prices, such as quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model-based valuation techniques for which all significant assumptions are observable in the market. ● Level 3: Unobservable inputs that are supported by little or no market activity. Level 3 assets and liabilities include financial instruments whose value is determined using pricing models, discounted cash flow methodologies, or similar techniques as well as instruments for which the determination of fair value requires significant management judgment or estimation. SUNDANCE STRATEGIES, INC. AND SUBSIDIARY NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited) September 30, 2022 The level in the fair value hierarchy within which a fair value measurement in its entirety falls is based on the lowest level input that is significant to the fair value measurement in its entirety. The Company did not have any transfers of assets and liabilities between Levels 1, 2 and 3 of the fair value measurement hierarchy during the six months ended September 30, 2022 and 2021. Other Financial Instruments The Company’s recorded values of cash and cash equivalents, prepaid expenses and other assets, accounts payable and accrued liabilities approximate their fair values based on their short-term nature. The recorded values of the notes payable and convertible debenture approximate the fair values as the interest rate approximates market interest rates.

STOCKHOLDERS_ EQUITY

STOCKHOLDERS’ EQUITY	6 Months Ended
	Sep. 30, 2022
Equity [Abstract]
STOCKHOLDERS’ EQUITY	(4) STOCKHOLDERS’ EQUITY Common Stock Effective December 6, 2018, three existing stockholders have contributed to the Company a portion of their common shares held at a repurchase price to the Company of $ 0.05 8,000,000 6,000,000 8,000,000 400,000 300,000 400,000 Warrants to Purchase Common Stock The Company’s related party lenders consist of: the Chairman of the Board of Directors and a stockholder, Radiant Life, LLC and Mr. Dickman, a board member and stockholder. These holders of the related party unsecured promissory notes, hold agreements that provide each related party with common stock warrants upon the lender’s extension of a maturity due date or upon the loaning of additional monies. The number of warrants issued for an extension is based on the following formula: 10,000 warrants per month the due date is extended plus 1 warrant for every $2 of the principal balance outstanding (not including interest) at the time of the extension (rounded to the nearest whole warrant). 5 years On June 20, 2022, the Company amended the agreements with the related party lenders to adjust the exercise price of the warrants issued in conjunction with extensions of due dates and new monies lent on the outstanding notes payable, related parties from January 5, 2022 to February 5, 2022 0.05 0.05 1.05 0.05 1.05 SUNDANCE STRATEGIES, INC. AND SUBSIDIARY NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited) September 30, 2022 The following table summarizes the warrants issued and outstanding as of September 30, 2022: SCHEDULE OF WARRANTS ISSUED AND OUTSTANDING Exercise Price ($) Warrants Outstanding Warrants Exercisable Weighted Average Remaining Contractual Life (Years) Proceeds to Company if Exercised 0.05 3,708,754 3,708,754 2.70 $ 185,439 1.00 1,000,000 1,000,000 1.52 1,000,000 1.05 2,534,487 2,534,487 4.51 2,661,211 2.00 50,000 50,000 3.85 100,000 5.00 500,000 500,000 4.32 2,500,000 7,793,241 7,793,241 $ 6,446,650 The shares of common stock issuable upon exercise of the warrants are not registered with the Securities and Exchange Commission and the holders of the warrants do not have registration rights with respect to the warrants or the underlying shares of common stock.

NOTES PAYABLE

NOTES PAYABLE	6 Months Ended
	Sep. 30, 2022
Debt Disclosure [Abstract]
NOTES PAYABLE	(5) NOTES PAYABLE On April 6, 2021, the Company borrowed $ 300,000 8 September 6, 2022 1,000,000 1.00 3 September 6, 2022 to January 6, 2023 8 35,638

NOTES PAYABLE, RELATED PARTY

NOTES PAYABLE, RELATED PARTY	6 Months Ended
	Sep. 30, 2022
Debt Disclosure [Abstract]
NOTES PAYABLE, RELATED PARTY	(6) NOTES PAYABLE, RELATED PARTY As of both September 30, 2022, and March 31, 2022, the Company had borrowed $ 3,001,808 905,371 767,358 Related Party Promissory Notes As of both September 30, 2022 and March 31, 2022, the Company owed $ 826,000 8 July 31, 2023 265,727 As discussed in Note 4, a provision to the lending agreement provides the related party lender with common stock warrants upon the lenders extension of a maturity due date or upon the loaning of additional monies. No new warrants were issued during the six months ended September 30, 2022. The total number of warrants issued to the related party lender was 1,690,583 , 2022 On July 29, 2021, the Company entered into an unsecured promissory note agreement with Radiant Life, LLC. This agreement was in conjunction with the Company borrowing $ 50,000 50,000 8 July 29, 2022 July 29, 2022 to July 29, 2023 4,917 SUNDANCE STRATEGIES, INC. AND SUBSIDIARY NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited) September 30, 2022 Related Party Note Payable and Line of Credit Agreements As of both September 30, 2022 and March 31, 2022 1,066,300 November 30, 2023 September 30, 2022 4,600,000 7.5 September 30, 2022 262,276 No 2,380,150 , 2022 As of September 30, 2022 and March 31, 2021, the Company owed $ 1,059,508 2,130,000 November 30, 2023 7.5 372,450 No 1,679,508 September 30, 2022

CONVERTIBLE DEBENTURE AGREEMENT

CONVERTIBLE DEBENTURE AGREEMENT	6 Months Ended
	Sep. 30, 2022
Debt Disclosure [Abstract]
CONVERTIBLE DEBENTURE AGREEMENT	(7) CONVERTIBLE DEBENTURE AGREEMENT The Company has entered into an 8% convertible debenture agreement with Satco International, Ltd., that allows for borrowings of up to $ 3,000,000 Per the agreement, the number of shares issuable at conversion shall be determined by the quotient obtained by dividing the outstanding principal and accrued and unpaid interest by 90% of the 90-day average closing price of the Company’s common stock from the date the notice of conversion is received; and the price at which the Debenture may be converted will be no lower than $ 1.00 June 2, 2016 July 5, 2022 note was amended to extend the due date from July 5, 2022 to November 30, 2023 As of September 30, 2022 and March 31, 2022, the Company owed $ 0 124,225

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	6 Months Ended
	Sep. 30, 2022
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	(8) SUBSEQUENT EVENTS Subsequent to September 30, 2022, the following events transpired: On October 19, 2022, the unsecured promissory note with Satco International, Ltd. was amended to extend the due date from September 6, 2022 to January 6, 2023 Between October 4, 2022 and November 8, 2022, the Company borrowed an additional $ 72,000 Chairman of the Board of Directors and a stockholder . As per the provision outlined in Note 4, and in conjunction with the extension of the due date of the agreement, the Company also agreed to provide the with warrants for 144,000 1.05 5-year exercise window from the date of the extension agreement. On November 11, 2022, the unsecured promissory notes from Mr. Dickman were amended to extend the due date from October 31, 2022 to July 31, 2023 Mr. Dickman 399,749 1.05 5-year exercise window from the date of the extension agreement. The warrants issued have no registration rights.

BASIS OF PRESENTATION, ORGANI_2

BASIS OF PRESENTATION, ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
	Sep. 30, 2022
Accounting Policies [Abstract]
Basic and Diluted Net Income (Loss) Per Common Share	Basic and Diluted Net Income (Loss) Per Common Share Basic net loss per common share is computed by dividing net loss by the weighted average number of common shares outstanding during the periods presented using the treasury stock method. Diluted net loss per common share is computed by including common shares that may be issued subject to existing rights with dilutive potential, when applicable. Potential dilutive common stock equivalents are primarily comprised of potential dilutive shares resulting from convertible debt agreements and common stock warrants. Potentially dilutive shares resulting from convertible debt agreements are evaluated using the if-converted method. Potentially dilutive securities are not included in the calculation of diluted net loss per share for the three and six months ended September 30, 2022 and 2021, because to do so would be anti-dilutive. Potentially dilutive securities outstanding as of September 30, 2022 and 2021 are comprised of warrants convertible into 7,250,241 4,758,754
New Accounting Pronouncements	New Accounting Pronouncements Adopted During the Six Months Ended September 30, 2022 In May 2021, the FASB issued ASU 2021-04 Issuer’s Accounting for Certain Modifications or Exchanges of Freestanding Equity Classified Written Call Options. This ASU clarifies an issuer’s accounting for certain modifications or exchanges of freestanding equity-classified written call options (for example, warrants) that remain equity classified after modification or exchange. Specifically, it provides a principles-based framework to determine whether an issuer should recognize the modification or exchange as an adjustment to equity or an expense. The amendment is effective for fiscal years beginning after December 15, 2021, and interim periods therein. The Company adopted the new guidance as of April 1, 2022, and used the framework to record modification to the exercise price of equity classified warrants during the six months ended September 30, 2022. Not Yet Adopted The Company has reviewed all recently issued, but not yet adopted, accounting standards, in order to determine their effects, if any, on its results of operations, financial position or cash flows. Based on that review, the Company believes that none of these pronouncements will have a significant effect on its financial statements.

STOCKHOLDERS_ EQUITY (Tables)

STOCKHOLDERS’ EQUITY (Tables)	6 Months Ended
	Sep. 30, 2022
Equity [Abstract]
SCHEDULE OF WARRANTS ISSUED AND OUTSTANDING	The following table summarizes the warrants issued and outstanding as of September 30, 2022: SCHEDULE OF WARRANTS ISSUED AND OUTSTANDING Exercise Price ($) Warrants Outstanding Warrants Exercisable Weighted Average Remaining Contractual Life (Years) Proceeds to Company if Exercised 0.05 3,708,754 3,708,754 2.70 $ 185,439 1.00 1,000,000 1,000,000 1.52 1,000,000 1.05 2,534,487 2,534,487 4.51 2,661,211 2.00 50,000 50,000 3.85 100,000 5.00 500,000 500,000 4.32 2,500,000 7,793,241 7,793,241 $ 6,446,650

BASIS OF PRESENTATION, ORGANI_3

BASIS OF PRESENTATION, ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) $ / shares in Units, Integer in Millions		6 Months Ended
	Jan. 02, 2022 USD ($) Integer $ / shares shares	Sep. 30, 2022 shares	Sep. 30, 2021 shares
Property, Plant and Equipment [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount | shares		7,250,241	4,758,754
Consulting Agreement [Member]
Property, Plant and Equipment [Line Items]
Payments to acquire loans held-for-investment	$ 100,000
Proceeds from issuance of upon contingent milestones	$ 400,000
Number of milestone non fungible | Integer	500
Consulting Agreement [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Repayment of related party debt	$ 400,000
Stock option granted | shares	10,000,000
Share based compensation exercise price per share | $ / shares	$ 2.50
Proceeds from non fungible token	$ 500,000,000
Consulting Agreement [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Stock option granted | shares	1,000,000
Share based compensation exercise price per share | $ / shares	$ 1
Proceeds from non fungible token	$ 100,000,000

LIQUIDITY REQUIREMENTS (Details

LIQUIDITY REQUIREMENTS (Details Narrative) - USD ($)	3 Months Ended		6 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Mar. 31, 2022
Liquidity Requirements
Cash	$ 498		$ 498		$ 267,966
Additional borrowing capacity from related party notes payable	4,604,192		4,604,192
Additional borrowing capacity from convertible debenture	3,000,000		3,000,000
Operating Expenses			62,500
Financing Interest Expense	13,500	$ 10,000	27,000	$ 87,561
Additional financing alternatives			400,000
Accounts Payable	$ 665,270		$ 665,270		$ 580,972

SCHEDULE OF WARRANTS ISSUED AND

SCHEDULE OF WARRANTS ISSUED AND OUTSTANDING (Details) - USD ($)	6 Months Ended
	Sep. 30, 2022	Jun. 20, 2022
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Warrant Exercise Price		$ 0.05
Warrant Outstanding	7,793,241
Warrants Exercisable	7,793,241
Proceeds from Warrant Exercised	$ 6,446,650
Exercise Price One [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Warrant Exercise Price	$ 0.05
Warrant Outstanding	3,708,754
Warrants Exercisable	3,708,754
Weighted Average Remaining Contractual Life (Years)	2 years 8 months 12 days
Proceeds from Warrant Exercised	$ 185,439
Exercise Price Two [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Warrant Exercise Price	$ 1
Warrant Outstanding	1,000,000
Warrants Exercisable	1,000,000
Weighted Average Remaining Contractual Life (Years)	1 year 6 months 7 days
Proceeds from Warrant Exercised	$ 1,000,000
Exercise Price Three [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Warrant Exercise Price	$ 1.05
Warrant Outstanding	2,534,487
Warrants Exercisable	2,534,487
Weighted Average Remaining Contractual Life (Years)	4 years 6 months 3 days
Proceeds from Warrant Exercised	$ 2,661,211
Exercise Price Four [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Warrant Exercise Price	$ 2
Warrant Outstanding	50,000
Warrants Exercisable	50,000
Weighted Average Remaining Contractual Life (Years)	3 years 10 months 6 days
Proceeds from Warrant Exercised	$ 100,000
Exercise Price Five [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Warrant Exercise Price	$ 5
Warrant Outstanding	500,000
Warrants Exercisable	500,000
Weighted Average Remaining Contractual Life (Years)	4 years 3 months 25 days
Proceeds from Warrant Exercised	$ 2,500,000

STOCKHOLDERS_ EQUITY (Details N

STOCKHOLDERS’ EQUITY (Details Narrative) - USD ($)			6 Months Ended
	Jun. 20, 2022	Dec. 06, 2018	Sep. 30, 2022
Exercise price of warrants	$ 0.05
Increase in warrants exercise price	1.05
Lenders [Member]
Exercise price of warrants	0.05
Lenders [Member] | Minimum [Member]
Exercise price of warrants	0.05
Lenders [Member] | Maximum [Member]
Increase in warrants exercise price	$ 1.05
Radian Life LLC [Member]
Warrant term			5 years
Satco International, Ltd., [Member] | Unsecured Debt [Member]
Debt Instrument, Maturity Date, Description	January 5, 2022 to February 5, 2022
Notes Payable and Lines of Credit Agree [Member] | Radiant Life LLC [Member]
Warrant or right, reason for issuance, description			The number of warrants issued for an extension is based on the following formula: 10,000 warrants per month the due date is extended plus 1 warrant for every $2 of the principal balance outstanding (not including interest) at the time of the extension (rounded to the nearest whole warrant).
Three Existing Shareholders [Member]
Stock repurchase, price per share		$ 0.05
Number of common shares of related party		8,000,000
Number of shares owned by the related party		6,000,000
Number of stock value repurchased		$ 400,000
Repayment to related party		$ 300,000

NOTES PAYABLE (Details Narrativ

NOTES PAYABLE (Details Narrative) - USD ($)					6 Months Ended
	Oct. 19, 2022	Aug. 09, 2022	Jul. 29, 2021	Apr. 06, 2021	Sep. 30, 2022	Jun. 20, 2022
Short-Term Debt [Line Items]
Debt Instrument, Interest Rate, Stated Percentage				8%
Warrant exercisable price per share						$ 0.05
Interest Payable					$ 265,727
8% Convertible Debenture Agreement [Member] | Satco International, Ltd., [Member]
Short-Term Debt [Line Items]
Debt Instrument, Maturity Date					Jun. 02, 2016
Debt Instrument, Maturity Date, Description		July 5, 2022 to November 30, 2023
Subsequent Event [Member] | 8% Convertible Debenture Agreement [Member] | Satco International, Ltd., [Member]
Short-Term Debt [Line Items]
Debt Instrument, Maturity Date, Description	September 6, 2022 to January 6, 2023
Unsecured Promissory Note [Member]
Short-Term Debt [Line Items]
Notes Payable			$ 50,000	$ 300,000
Debt Instrument, Interest Rate, Stated Percentage			8%	8%
Debt Instrument, Maturity Date			Jul. 29, 2022	Sep. 06, 2022
Issuance of warrants				1,000,000
Warrant exercisable price per share				$ 1
Warrants expiration term				3 years
Interest Payable					$ 35,638

NOTES PAYABLE, RELATED PARTY (D

NOTES PAYABLE, RELATED PARTY (Details Narrative) - USD ($)				6 Months Ended	12 Months Ended
	Aug. 03, 2022	Jul. 29, 2021	Apr. 06, 2021	Sep. 30, 2022	Mar. 31, 2022	Mar. 31, 2021
Short-Term Debt [Line Items]
Notes payable, related parties				$ 3,001,808	$ 3,001,808
Accrued interest				265,727
Debt instrument interest rate			8%
Notes Payable and Lines of Credit Agreement [Member]
Short-Term Debt [Line Items]
Notes payable, related parties				1,066,300		$ 1,066,300
Accrued interest				$ 262,276
Debt instrument interest rate				7.50%
Debt maturity date				Nov. 30, 2023
Notes Payable and Lines of Credit Agreement [Member] | Warrant [Member]
Short-Term Debt [Line Items]
Issuance of warrants				0
Notes Payable and Lines of Credit Agreement [Member] | Maximum [Member]
Short-Term Debt [Line Items]
Notes payable				$ 4,600,000
Radiant Life LLC [Member] | Notes Payable and Lines of Credit Agreement [Member]
Short-Term Debt [Line Items]
Notes payable, related parties				1,059,508	1,059,508
Accrued interest				$ 372,450
Debt instrument interest rate				7.50%
Debt maturity date				Nov. 30, 2023
Radiant Life LLC [Member] | Notes Payable and Lines of Credit Agreement [Member] | Warrant [Member]
Short-Term Debt [Line Items]
Issuance of warrants				0
Radiant Life LLC [Member] | Notes Payable and Lines of Credit Agreement [Member] | Maximum [Member]
Short-Term Debt [Line Items]
Notes payable				$ 2,130,000
Unsecured Promissory Note [Member]
Short-Term Debt [Line Items]
Accrued interest				35,638
Debt instrument interest rate		8%	8%
Debt maturity date		Jul. 29, 2022	Sep. 06, 2022
Notes payable		$ 50,000	$ 300,000
Issuance of warrants			1,000,000
Unsecured Promissory Note [Member] | Radiant Life LLC [Member]
Short-Term Debt [Line Items]
Maturity date description	July 29, 2022 to July 29, 2023
Unsecured Note Payable [Member]
Short-Term Debt [Line Items]
Interest received				4,917
Related Party [Member]
Short-Term Debt [Line Items]
Accrued interest				905,371		$ 767,358
Mr. Glenn S. Dickman [Member] | Unsecured Promissory Note [Member]
Short-Term Debt [Line Items]
Notes payable, related parties				$ 826,000	$ 826,000
Debt instrument interest rate				8%	8%
Debt maturity date				Jul. 31, 2023	Jul. 31, 2023
Lender [Member]
Short-Term Debt [Line Items]
Number of warrant issued to related party lender				1,690,583
Lender [Member] | Notes Payable and Lines of Credit Agreement [Member]
Short-Term Debt [Line Items]
Issuance of warrants				2,380,150
Lender [Member] | Radiant Life LLC [Member]
Short-Term Debt [Line Items]
Issuance of warrants				1,679,508

CONVERTIBLE DEBENTURE AGREEME_2

CONVERTIBLE DEBENTURE AGREEMENT (Details Narrative) - USD ($)		6 Months Ended
	Aug. 09, 2022	Sep. 30, 2022	Mar. 31, 2022
Debt Instrument [Line Items]
Amount payable		$ 0	$ 0
Accrued interest		$ 124,225	$ 124,225
8% Convertible Debenture Agreement [Member] | Satco International, Ltd., [Member]
Debt Instrument [Line Items]
Description of convertible terms of conversion		Per the agreement, the number of shares issuable at conversion shall be determined by the quotient obtained by dividing the outstanding principal and accrued and unpaid interest by 90% of the 90-day average closing price of the Company’s common stock from the date the notice of conversion is received; and the price at which the Debenture may be converted will be no lower than $1.00 per share.
Debt convertible conversion price per share		$ 1
Debt maturity date		Jun. 02, 2016
Maturity date description	July 5, 2022 to November 30, 2023
8% Convertible Debenture Agreement [Member] | Satco International, Ltd., [Member] | Extended Maturity [Member]
Debt Instrument [Line Items]
Debt maturity date		Jul. 05, 2022
8% Convertible Debenture Agreement [Member] | Satco International, Ltd., [Member] | Maximum [Member]
Debt Instrument [Line Items]
Debt borrowing amount		$ 3,000,000

SUBSEQUENT EVENTS (Details Narr

SUBSEQUENT EVENTS (Details Narrative) - USD ($)			1 Months Ended
	Nov. 11, 2022	Oct. 19, 2022	Nov. 08, 2022	Jun. 20, 2022
Subsequent Event [Line Items]
Warrant Exercise Price				$ 0.05
Subsequent Event [Member]
Subsequent Event [Line Items]
Periodic ayment due date	On November 11, 2022, the unsecured promissory notes from Mr. Dickman were amended to extend the due date from October 31, 2022 to July 31, 2023	On October 19, 2022, the unsecured promissory note with Satco International, Ltd. was amended to extend the due date from September 6, 2022 to January 6, 2023
Subsequent Event [Member] | Board of Directors Chairman [Member] | Common Stock [Member]
Subsequent Event [Line Items]
Number of warrants			144,000
Warrant Exercise Price			$ 1.05
Warrant exercisable term description			5-year exercise window from the date of the extension agreement.
Subsequent Event [Member] | Board of Directors Chairman [Member] | Line Of Credit Agreement [Member]
Subsequent Event [Line Items]
Proceeds from lines of credit			$ 72,000
Subsequent Event [Member] | Mr Dickman [Member] | Common Stock [Member]
Subsequent Event [Line Items]
Number of warrants	399,749
Warrant Exercise Price	$ 1.05
Warrant exercisable term description	5-year exercise window from the date of the extension agreement.