Sundance Strategies (SUND) 10-K 14 Jun 16 2016 FY Annual report Financial data

DOCUMENT AND ENTITY INFORMATION

DOCUMENT AND ENTITY INFORMATION - USD ($)	12 Months Ended
	Mar. 31, 2016	May 31, 2016	Sep. 30, 2015
Document And Entity Information [Abstract]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Mar. 31, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	FY
Entity Registrant Name	Sundance Strategies, Inc.
Entity Central Index Key	1,171,838
Current Fiscal Year End Date	--03-31
Entity Filer Category	Accelerated Filer
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Common Stock, Shares Outstanding		44,128,441
Entity Public Float			$ 59,196,791

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Mar. 31, 2016	Mar. 31, 2015
Current Assets
Cash and Cash Equivalents	$ 24,717	$ 336,370
Prepaid Expenses	1,875	1,875
Total Current Assets	26,592	338,245
Long-Term Assets
Investment in Net Insurance Benefits	$ 29,822,186	22,544,635
Advance for Investment in Net Insurance Benefits		3,596,386
Notes Receivable		211,000
Other		16,428
Total Long-term Assets	$ 29,822,186	26,368,449
Total Assets	29,848,778	26,706,694
Current Liabilities
Accounts Payable	$ 351,671	255,361
Accrued Expenses		181,917
Notes Payable		1,326,876
Note Payable-Related Party		$ 1,500,000
Manditorily Redeemable Common Stock	$ 750,000
Total Current Liabilities	1,101,671	$ 3,264,154
Long-Term Liabilities
Note Payable-Related Party	3,820,178
Convertible Debenture	700,000
Accrued Expenses	192,157
Total Long-Term Liabilities	4,712,335
Total Liabilities	$ 5,814,006	$ 3,264,154
Stockholders' Equity
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; 44,128,441 and 43,185,941 shares issued and outstanding, respectively	$ 44,129	$ 43,186
Additional Paid In Capital	$ 24,364,442	16,316,882
Additional Paid In Capital- Stock to be Issued		7,540,000
Accumulated Deficit	$ (373,799)	(457,528)
Total Stockholders' Equity	24,034,772	23,442,540
Total Liabilities and Stockholders' Equity	$ 29,848,778	$ 26,706,694

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Mar. 31, 2016	Mar. 31, 2015
Statement of Financial Position [Abstract]
Preferred Stock, shares authorized	10,000,000	10,000,000
Preferred Stock, par value per share	$ 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 per share	$ 0.001	$ 0.001
Common Stock, shares issued	44,128,441	43,185,941
Common Stock, shares outstanding	44,128,441	43,185,941

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($)	12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2014
Income Statement [Abstract]
Interest Income on Investment in Net Insurance Benefits	$ 3,909,171	$ 2,454,478	$ 508,411
General and Administrative Expenses	3,597,439	2,338,265	2,278,009
Income (Loss) from Operations	$ 311,732	$ 116,213	(1,769,598)
Other Income (Expense)
Gain on Extinguishment of Debt			1,672,124
Interest Income	$ 5,241	$ 17,947	13,788
Interest Expense	$ (233,244)	(287,203)	$ (122,452)
Other, net		6,303
Total Other Income (Expense)	$ (228,003)	(262,953)	$ 1,563,460
Income (Loss) Before Income Taxes	$ 83,729	$ (146,740)	$ (206,138)
Income Tax Provision
Net Income (Loss)	$ 83,729	$ (146,740)	$ (206,138)
Basic and Diluted:
Basic Earnings (Loss) Per Share	$ 0	$ (0.01)	$ (0.01)
Fully Diluted Earnings (Loss) Per Share	$ 0	$ (0.01)	$ (0.01)
Basic Weighted Average Number of Shares Outstanding	44,026,832	43,137,990	42,559,660
Fully Diluted Weighted Average Number of Shares Outstanding	45,373,208	43,137,990	42,559,660

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity - USD ($)	Common Stock [Member]	Additional Paid In Capital [Member]	Receivable for Common Stock Subscribed [Member]	Common Stock to be Issued [Member]	Accumulated Deficit [Member]	Total
Balance at Mar. 31, 2013	$ 40,798	$ 3,850,257	$ (37,510)		$ (104,650)	$ 3,748,895
Balance, shares at Mar. 31, 2013	40,797,441
Common Stock issued for cash	$ 2,218	11,090,281				$ 11,092,499
Common Stock issued for cash, shares	2,218,500					2,218,500
Stock issuance costs		$ (845,886)	$ 4,235			$ (841,651)
Cash for shares to be issued				$ 700,000		700,000
Cash received for subscription receivable			$ 31,775			31,775
Amortization of options issued for compensation		$ 816,802				816,802
Amortization of warrants issued for services		$ 139,251				139,251
Net income (loss)					$ (206,138)	(206,138)
Balance at Mar. 31, 2014	$ 43,016	$ 15,050,705	$ (1,500)	$ 700,000	$ (310,788)	$ 15,481,433
Balance, shares at Mar. 31, 2014	43,015,941					43,015,941
Common Stock issued for cash	$ 30	149,970				$ 150,000
Common Stock issued for cash, shares	30,000
Removal of Expired Subscription		$ (1,500)	$ 1,500
Common Stock to be Issued for settlement of debt and receipt of Net Insurance Benefits				$ 7,540,000		$ 7,540,000
Issuance of stock to be issued	$ 140	$ 699,860		$ (700,000)
Issuance of stock to be issued, shares	140,000
Amortization of options issued for compensation		$ 417,847				$ 417,847
Net income (loss)					$ (146,740)	(146,740)
Balance at Mar. 31, 2015	$ 43,186	$ 16,316,882		$ 7,540,000	$ (457,528)	$ 23,442,540
Balance, shares at Mar. 31, 2015	43,185,941					43,185,941
Common Stock issued for cash
Removal of Expired Subscription
Common Stock to be Issued for settlement of debt and receipt of Net Insurance Benefits
Issuance of stock to be issued	$ 943	$ 7,539,058		$ (7,540,000)
Issuance of stock to be issued, shares	942,500
Amortization of options issued for compensation		$ 508,503				$ 508,503
Net income (loss)					$ 83,729	83,729
Balance at Mar. 31, 2016	$ 44,129	$ 24,364,442			$ (373,799)	$ 24,034,772
Balance, shares at Mar. 31, 2016	44,128,441					44,128,441

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2014
Operating Activities
Net Income (Loss)	$ 83,729	$ (146,740)	$ (206,138)
Adjustments to reconcile to cash from operating activities:
Gain on Extinguishment of Debt			(1,672,124)
Share Based Compensation - Options	$ 508,503	$ 417,846	816,802
Accrued Interest on NIBs	(3,909,171)	(2,454,478)	(508,411)
Advance for Investments in Net Insurance Benefits	(626,914)	(815,798)	$ (3,584,862)
Refund of Advance for Investments in Net Insurance Benefits	$ 854,920	$ 904,274
Other Current Assets
Changes in Operating Assets and Liabilities
Accrued Interest Income	$ 16,428	$ (9,405)	$ (13,767)
Prepaid Expenses		125	(2,000)
Accounts Payable	$ 96,310	202,446	$ 135,420
Accrued Expenses	$ 183,364	52,888
Investment in Net Insurance Benefits		(150,000)	$ (5,436,000)
Net Cash from Operating Activities	$ (2,792,831)	(1,998,842)	(10,471,080)
Investing Activity
Issuance of Note Receivable		(150,000)	$ (861,000)
Proceeds from Notes Receivable	$ 211,000	550,000
Net Cash from Investing Activity	211,000	400,000	$ (861,000)
Financing Activities
Proceeds from Issuance of Notes Payable and Lines-of-Credit, Related Party	2,320,178	$ 1,410,000
Proceeds from Issuance of Convertible Debenture	$ 700,000
Common Stock Issued for Cash		$ 150,000	$ 10,461,875
Common Stock to be Issued			$ 700,000
Redemption of Temporary Equity	$ (750,000)
Net Cash from Financing Activities	2,270,178	$ 1,560,000	$ 11,161,875
Net Change in Cash	(311,653)	(38,842)	(170,205)
Cash at Beginning of Period	336,370	375,212	545,417
Cash at End of Period	$ 24,717	336,370	$ 375,212
Non Cash Financing & Investing Activities
Cash Paid for Interest		117,471
Notes Receivables Exchanged for Advance for Investment in NIBs		$ 100,000
Fair Value of Warrants Issued as Stock Issuance Costs			$ 139,251
Gain on Extinguishment of Debt			$ 1,672,124
Common Stock to be Issued and Note Payable and Note Receivable settled for Investment in Net Insurance Benefits		$ 7,540,000
Exchange Note Payable and Accrued Interest for Temporary Equity	$ 1,500,000
Advanced funds paid converted to Net Insurance Benefits	$ 3,368,380

ORGANIZATION AND BASIS OF PRESE

ORGANIZATION AND BASIS OF PRESENTATION	12 Months Ended
	Mar. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
ORGANIZATION AND BASIS OF PRESENTATION	(1) ORGANIZATION AND BASIS OF PRESENTATION 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” or “we”). The Company is engaged in the business of purchasing or acquiring and selling 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 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.” Currently, the Company is focused on the purchase and sale of net insurance benefit contracts (“NIB”) based on life insurance policies. The Company does not take possession or control of the policies. The Holder of the life insurance policies acquire such policies at a discount to their face value. The Holder has available credit to pay premiums and expenses on the underlying policies until settlement. On settlement, the Company receives the net insurance benefit after all borrowings, interest and expenses have been paid by the Holder out of the settlement proceeds.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Mar. 31, 2016
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	(2) SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Estimates, Cash and Cash Equivalents, Income Recognition, During the period from April 1, 2013 through December 31, 2013, the Company’s investment in NIBs was on non-accrual status. This decision was primarily based on the initial incremental uncertainty experienced by the Company during these first three quarters after closing on the first pool of NIBs. Management concluded these uncertainties were significantly mitigated in the fourth quarter of 2014, as additional experience and information was obtained, including the observation of the proper functioning of the entire system in response to the death of an insured in the fourth quarter of 2014. Non-accrual status was removed effective January 1, 2014. Basic and Diluted Net Income (Loss) Per Common Share, The reconciliation between the basic and diluted weighted-average number of common shares for the years ended March 31, 2016 and 2015, is summarized as follows: March 31, March 31, March 31, Basic weighted-average number of common shares outstanding during the year 44,026,832 43,137,990 42,559,660 Weighted-average number of dilutive common stock equivalents outstanding during the year 1,346,376 - - Diluted weighted-average number of common and common equivalent shares outstanding during the year 45,373,208 43,137,990 42,559,660 Outstanding common stock equivalents not included in the computation of diluted net loss per common share totaled 1,766,374 as of March 31, 2015 and 1,208,152 as of March 31, 2014. These common stock equivalents were not included in the computation because to do so would have been antidilutive. Stock Based Compensation Reclassification – Not Material Certain reclassifications have been made to the 2014 and 2015 balances to conform to the 2016 presentation. These reclassifications did not affect net income (loss) for the periods. The Company accounts for stock options to purchase shares of stock that are issued to non-employees based on the estimated fair value of such instruments using the Black-Scholes option pricing model. The measurement of stock-based compensation expense for these instruments is variable and subject to periodic adjustments to the estimated fair value until the awards vest. Any resulting change in the estimated fair value is recognized in the Company’s consolidated statements of operations during the period in which the related services are rendered. Investment in Net Insurance Benefits, The Company accounts for its investment in NIBs at the initial investment value increased for interest income and decreased for cash receipts received by the Company. At the time of transfer or purchase of an investment in NIBs, we estimate the future expected cash flows and determine the effective interest rate based on these estimated cash flows and our initial investment. Based on this effective interest rate, the Company calculates accretable income, which is recorded as interest income on investment in NIBs in the statement of operations. Subsequent to the purchase and on a regular basis, these future estimated cash flows are evaluated for changes. If the determination is made that the future estimated cash flows should be significantly adjusted, a revised effective yield is calculated prospectively based on the current amortized cost of the investment, including accrued accretion. Any positive or adverse change in cash flows that does not result in the recognition of an “other-than-temporary impairment” (“OTTI”) results in a prospective increase or decrease in the effective interest rate used to recognize interest income. We have not recognized any significant adverse change in future estimated cash flows relating to our investment in NIBs from January 31, 2013 (inception) to the period ended March 31, 2016. We evaluate the carrying value of our investment in NIBs for impairment on a regular basis and, if necessary, adjust our total basis in the NIBs using new or updated information that affects our assumptions. We recognize impairment on a NIB contract if the expected discounted cash flows are less than the carrying amount of the investment, plus anticipated undiscounted future premiums and direct external costs, if any. We have not recognized any impairment on our investment in NIBs from January 31, 2013 (inception), to the periods ended March 31, 2016. In estimating these cash flows for purposes of interest income and impairment calculations, there are a number of assumptions that are subject to uncertainties and contingencies. These include the amount and timing of projected net cash receipts, expected maturity events, counter party performance risk, changes to applicable regulation of the investment, shortage of funds needed to maintain the asset until maturity, changes in discount rates, life expectancy estimates and their relation to premiums, interest, and other costs incurred, among other items. These uncertainties and contingencies are difficult to predict and are subject to future events that may impact our estimates and interest income. As a result, actual results could differ significantly from those estimates. Income Taxes, The tax effects from an uncertain tax position can be recognized in the financial statements only if the position is more likely than not of being sustained if the position were to be challenged by a taxing authority. The Company has examined the tax positions taken in its tax returns and determined that there are no uncertain tax positions. As a result, the Company has recorded no uncertain tax liabilities in its balance sheet. Principles of Consolidation, Fair Value, Level 1: Quoted market prices in active markets for identical assets or liabilities. Level 2: Observable market based inputs or unobservable inputs that are corroborated by market data. Level 3: Unobservable inputs that are not corroborated by market data.

NEW ACCOUNTING PRONOUNCEMENTS

NEW ACCOUNTING PRONOUNCEMENTS	12 Months Ended
	Mar. 31, 2016
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
NEW ACCOUNTING PRONOUNCEMENTS	(3) NEW ACCOUNTING PRONOUNCEMENTS The Financial Accounting Standards Board (“FASB”) issued Accounting Standard Update (“ASU”) 2014-09, 2015-14 and 2016-8 – Revenue from Contracts with Customers, which provides a single, comprehensive revenue recognition model for all contracts with customers. The core principal of the ASUs is that an entity should recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The ASUs also requires additional disclosure about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes in judgments and assets recognized from costs incurred to obtain or fulfill a contract. In July 2015, the FASB deferred the effective date of this standard. As a result, the standard and related amendments will be effective for the Company for its fiscal year beginning April 1, 2018, including interim periods within that fiscal year. Early application is permitted, but not before the original effective date of April 1, 2017. Entities are allowed to transition to the new standard by either retrospective application or recognizing the cumulative effect. The Company is currently evaluating the guidance, including which transition approach will be applied and the estimated impact it will have on our consolidated financial statements. The Company does not believe adoption of the ASUs will have a material impact on the consolidated financial statements. In August 2014, the FASB issued ASU 2014-15 Presentation of Financial Statements—Going Concern (Subtopic 205-40): Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern. The new standard provides guidance around management’s responsibility to evaluate whether there is substantial doubt about an entity’s ability to continue as a going concern and to provide related footnote disclosures. The new standard is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2016. Early adoption is permitted. The adoption of this standard is not expected to have a material impact on the Company’s financial statements. In January 2016, the FASB issued ASU 2016-01 regarding Financial Instruments, which amended guidance on the classification and measurement of financial instruments. Under the new guidance, entities will be required to measure equity investments that are not consolidated or accounted for under the equity method at fair value with any changes in fair value recorded in net income, unless the entity has elected the new practicability exception. For financial liabilities measured using the fair value option, entities will be required to separately present in other comprehensive income the portion of the changes in fair value attributable to instrument-specific credit risk. Additionally, the guidance amends certain disclosure requirements associated with the fair value of financial instruments. The standard will be effective for the Company’s fiscal year beginning April 1, 2018, including interim reporting periods within that fiscal year. The Company is currently evaluating the effect of the adoption of this guidance on the consolidated financial statements. In February 2016, the FASB issued ASU 2016-02 related to the accounting for leases. This pronouncement requires lessees to record most leases on their balance sheet, while expense recognition on the income statement remains similar to current lease accounting guidance. The guidance also eliminates real estate-specific provisions and modifies certain aspects of lessor accounting. Under the new guidance, lease classification as either a finance lease or an operating lease will determine how lease-related revenue and expense are recognized. The pronouncement is effective for fiscal years, and for interim periods within those fiscal years, beginning after December 15, 2018. The Company is currently evaluating the effect of the adoption of this guidance on the consolidated financial statements. In March 2016, the FASB issued ASU 2016-06 related to the embedded derivative analysis for debt instruments with contingent call or put options. This pronouncement clarifies that an exercise contingency does not need to be evaluated to determine whether it relates only to interest rates or credit risk. Instead, the contingent put or call option should be evaluated for possible bifurcation as a derivative in accordance with the four-step decision sequence detailed in FASB ASC 815-15, without regard to the nature of the exercise contingency. The pronouncement is effective for fiscal years, and for interim periods within those fiscal years, beginning after December 15, 2016. The Company does not believe the adoption of this guidance will have a material effect on the consolidated financial statements. In March 2016, the FASB issued ASU 2016-09, Improvements to Employee Share-Based Payment Accounting. The new standard is designed to simplify the areas of share based payments relating to income tax consequences. ASU 2016-09 is effective for the Company for its fiscal year beginning April 1, 2017. The Company is currently evaluating the effect of the adoption of this guidance on the consolidated financial statements. The Company has reviewed all other 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.

CASH AND CASH EQUIVALENTS

CASH AND CASH EQUIVALENTS	12 Months Ended
	Mar. 31, 2016
Cash and Cash Equivalents [Abstract]
CASH AND CASH EQUIVALENTS	(4) CASH AND CASH EQUIVALENTS Cash and cash equivalents consists principally of currency on hand and demand deposits at commercial banks. The Company had $24,717 and $336,370 in cash and cash equivalents as of March 31, 2016, and 2015, respectively. The Company maintains non-interest bearing accounts at one financial institution. The accounts at this institution are insured by the Federal Deposit Insurance Corporation (FDIC) up to $250,000.

INVESTMENT IN NET INSURANCE BEN

INVESTMENT IN NET INSURANCE BENEFITS	12 Months Ended
	Mar. 31, 2016
Investments, All Other Investments [Abstract]
INVESTMENT IN NET INSURANCE BENEFITS	(5) INVESTMENT IN NET INSURANCE BENEFITS Investment in NIBs for the fiscal year ended March 31, 2016, and 2015 were as follows: March 31, 2016 March 31, 2015 Beginning Balance $ 22,544,635 $ 12,243,411 Transfers from Advance for Investment in NIBs 3,368,380 - Accretion of interest income 3,909,171 2,454,478 Additional purchases - 7,846,746 Distributions of investments - - Impairment of investments - - Total $ 29,822,186 $ 22,544,635 As explained in Note 6, the Company transferred $3,368,380 from advance for investment in NIBs into investment in NIBs on September 30, 2015. During March 2015, the Company agreed to pay cash, issue common stock and forgive a note receivable in exchange for relief of a note payable and the receipts of NIBs. The net consideration given for the NIBs totaled $7,846,746 (see Notes 11 and 15). The estimated fair value of the Company’s investment in NIBs approximated carrying value at March 31, 2016, with fair value calculated using level 3 inputs as there is little observable market data available and management is required to use significant judgment in its estimates. The table below describes the underlying life insurance policies relating to our investment in NIBs at March 31, 2016, with an adjustment made to reduce the Life Expectancies by the number of months since the last Life Expectancy report Adjusted Life Expectancies** (in years) Number of Interests in Life Settlement Contracts Face Value of Underlying Policies 0-1 4 $ 26,611,111 1-2 5 7,975,000 2-3 7 36,111,111 3-4 8 37,444,444 4-5 12 59,444,444 Thereafter 37 230,012,289 Total of all policies 72 $ 397,598,400 ** The Life Expectancy ("LE") input is the 70%/30% weighted average of two LEs available at the time of the original creation of the NIB portfolio. The Adjusted Life Expectancy is an unofficial calculation that simply reduces the original LE by the number of months since the last LE report. It should be noted that the insured’s health, medical conditions and other considerations may have changed since the LE report, so that the Adjusted LE is simply an estimate. These LEs were produced by third-party life expectancy companies and represent the actuarial mean of how long an individual is expected to live. The number is a calculation done with the LE provider's proprietary statistical model that is typically based on individualized mortality curves for each life factoring in the insured's gender, age, health and family history, medical conditions, and other considerations. In purchasing, financing or insuring life insurance policies or NIBs, we may use alternate life expectancy companies or may use weighted averages of two or more life expectancy companies, depending on the facts and circumstances of the case and requirements of the various counterparties. The life expectancy report is just an estimate, as the life expectancy of any individual cannot be known with absolute certainty. The original face value of the underlying life insurance policies was $412,820,622. This value takes into account the approximately 72.2% of the NIBs associated with a portfolio of life settlement policies having a face value that originally totaled $94,000,000 (see Note 6). One policy matured during March 2014, totaling $8,000,000. Another policy with a face value of $10,000,000 matured during June 2015, of which value approximately 72.2% was apportioned to the Company. The remaining $397,598,400 represents the total insurance settlement on the life insurance policies as of March 31, 2016, including the estimated future increase for certain policies that have return of premium provisions. Effectively, as of March 31, 2016, the policy holders had paid $106,107,649 on policy premiums and other expenses on the insurance contracts. The policy holders are independent of the Company, and as separate entities there is a risk that such entities might not continue to pay the policy premiums and other expenses as has been done historically. The Company monitors the policy holders’ ability to maintain the underlying policies, and in the event the policy holders are unable to make the required payments, the Company would evaluate whether to directly maintain the underlying policies through the policy holders or allow them to elapse. The policy holders currently have senior loan agreements and MRI reinsurance to cover these payments. As of March 31, 2016, none of the underlying policies have elapsed and the required payments remain current. The table below describes the future estimated premiums payments, other expenses and interest paid by external parties expected to be paid on the policies for the five years subsequent to March 31, 2016. Significant estimates are made as part of the calculation of the premium payments, other expenses and interest amounts identified in the table below. The following table only includes the percentage of the future estimated premium payments, other expenses and interest relating to the portfolio of which the Company only has partially owned NIBs. The following table does not include all of the estimation factors used by the Company in estimating expected net cash receipts for interest income calculation purposes, and is intended to only provide the estimated premium payments, other expenses and interest amounts related to the policies underlying the Company’s NIBs (totals do not include premiums, expenses and interest paid for prior years): Year Premiums Expenses + Interest Total Year 1 $ 13,233,777 $ 8,853,594 $ 22,087,371 Year 2 13,491,946 9,195,850 22,687,796 Year 3 15,064,136 8,639,077 23,703,213 Year 4 14,602,792 7,345,242 21,948,034 Year 5 14,264,110 7,442,259 21,706,369 Thereafter 35,907,837 28,949,802 64,857,639 Total $ 106,564,598 $ 70,425,824 $ 176,990,422 The projected premiums, interest and expenses were created using the expected remaining life expectancies on the policies and other key assumptions. The expenses and interest calculations were based on the interest rates on the loans to the holders of the policies, current reinsurance interest rates, origination fees, servicing fees and other custodial fees expected during the life of the investment. The lender for the holders of the policies provides the loans at a high rate of interest and loan payments are guaranteed by the MRI or reinsurance coverage. The policy holders receive ongoing fees and a percentage of death benefits when a policy matures which we included in the estimated expenses. The Company receives cash flows from its investments in NIBs after all other loan balances, costs and expenses are paid. During July 2015, a group of persons located in the United States (the “Purchasers”) acquired the entities that owned all of the portfolios of life insurance contracts underlying the Company’s NIBs. The Purchasers have also agreed to amend the NIBs agreements to provide greater disclosure to the Company and limit permitted expenses to be paid prior to payments to the NIB holders, pending certain regulatory and tax approvals. In connection with this purchase, the Purchasers and the respective owners of these portfolios entered into a Settlement Agreement releasing such owners and their managers from liability related to their ownership and management of the entities that owned the respective portfolios of life insurance contracts. The Purchasers further required releases from the Company and the payment of certain accrued expenses. Accordingly, effective as of July 17, 2015, the Purchasers acquired all of the ownership interests in the entities that owned all of the portfolios of life insurance contracts underlying the Company’s NIBs from their prior owners and executed a Settlement Agreement with such owners and the Company in relation to these matters. The NIBs amendments are in process, and the Company believes the NIBs amendments will be in effect before calendar year end 2016. The Company and Purchasers agreed to indemnify the prior owners of such portfolios against future claims in connection with the issuance of the NIBs or their ownership or management of the entities sold, based on actions that occurred prior to this sale to the Purchasers. During the year ended March 31, 2016, the Company paid an $826,665 obligation related to the ownership change, which is recorded in General and Administrative Expenses. Management of the Company is presently not aware of the existence of any additional payments owed. Neither the purchase of these entities nor the Settlement Agreement resulted in any material change in our NIBs ownership interest. The Company was supportive of the Purchasers acquiring the entities that owned the portfolios of life insurance contracts underlying the Company’s NIBs and was willing to provide the indemnification because it believes this ownership change will result in a reduction of costs and expenses associated with ownership of the NIBs, which should increase their intrinsic value.

ADVANCE FOR INVESTMENT IN NET I

ADVANCE FOR INVESTMENT IN NET INSURANCE BENEFITS	12 Months Ended
	Mar. 31, 2016
ADVANCE FOR INVESTMENT IN NET INSURANCE BENEFITS [Abstract]
ADVANCE FOR INVESTMENT IN NET INSURANCE BENEFITS	(6) ADVANCE FOR INVESTMENT IN NET INSURANCE BENEFITS On June 7, 2013, the Company entered into an Asset Transfer Agreement (the “Del Mar ATA”) with Del Mar Financial, S.a.r.l. (“Del Mar”). As part of the Del Mar ATA, the Company entered into a Structuring and Consulting Agreement with Europa Settlement Advisors Ltd. (respectively, the “Europa Agreement” and “Europa”). The Del Mar ATA involved the purchase of certain life settlement assets consisting of the legal and net beneficial ownership interest in a portfolio of life insurance policies (the “NIBs”), among other assets that are consideration and collateral for certain cash advances and expense payments made by the Company. According to the Del Mar ATA, Del Mar, with the assistance of Europa, was obligated to convert the NIBs and other newly acquired NIBs into “Qualified NIBS.” As soon as Del Mar met its obligation to provide Qualified NIBs to the Company, any remaining NIBs and any other consideration and collateral would be returned or released to Del Mar. The original due date for the conversion was December 31, 2013, which date was subsequently extended several times. On April 30, 2015, the Company finalized an amendment to the Del Mar ATA and the related Europa Agreement to extend the deadline until August 31, 2015. The remaining consideration and collateral under the Del Mar ATA, as of September 1, 2015, primarily consisted of approximately 72.2% of the NIBs associated with a portfolio of life settlement policies having a face value that originally totaled $94,000,000. The remaining 27.8% interested in the NIBs were held by other parties. During June 2015, one of the life settlement policies matured for $10,000,000 (the “Matured Policy”), lowering the remaining face value of such life settlement policies to $84,000,000. The premiums and expenses related to the maintenance of these life insurance policies are financed by a loan from a lender. As Del Mar was unable to provide the required amount of Qualified NIBs by the extended due date of August 31, 2015, effective September 1, 2015, the agreements with Del Mar and Europa were cancelled and the Company obtained full ownership and control of the collateral, which included the above mentioned approximately 72.2% of the NIBs associated with the $84,000,000 face value of life settlement policies and certain rights to net proceeds relating to the Matured Policy. On September 30, 2015, the Company transferred to Investment in NIBs the remaining balance of advances and expense payments to Del Mar, totaling $3,368,380, which approximates fair value. This amount was residing in advance for investment in NIBs before being transferred to investment in NIBs (see Note 5). The bulk of the $10,000,000 proceeds paid in connection with the Matured Policy were used to repay loans secured by such Matured Policy. However, on September 10, 2015, the Company received $1,094,335 as a result of the rights associated with the Matured Policy. These proceeds were allocated $239,415 to pay off a note receivable (including interest), $547,308 to reimburse the Company for expense payments made to or on behalf of Del Mar and $307,612 as a refund of advance payments previously made to or on behalf of Del Mar as part of the Del Mar ATA. The $547,308 and $307,612 proceeds, which together total $854,920, were applied to reduce Advance for Investment in NIBs. In addition to obtaining full and unrestricted rights to the NIBs upon termination of the Del Mar ATA and Europa Agreement, the Company also is entitled to receive liquidated damages from Del Mar in an amount equal to 100% of any cash advances made under the Del Mar ATA. The Company is currently determining the extent of the liquidated damages claim and Del Mar’s ability to pay any such liquidated damages. The liquidated damages are computed pro rata, based upon the percentage of Qualified NIBs delivered by Del Mar under the Del Mar ATA. The Company received $90,600,000 in Qualified NIBs or approximately 22.65% of the $400,000,000 in Qualified NIBs due under the Del Mar ATA. Accordingly, once 22.65% of its costs and expenses are deducted, the Company would be entitled to receive the remaining amount of its costs and expenses, times two, as liquidated damages. As a result of the termination, the Company has no further payment obligations to Del Mar or fee obligations to Europa. The Company is determining whether Europa is liable to the Company for any damages related to Del Mar’s failure to provide the required Qualified NIBs. The liquidated damages claim is secured by all of the assets transferred to the Company under the Del Mar ATA and a Collateral Pledge Agreement executed by Del Mar on June 5, 2013, pledging all of Del Mar’s remaining assets to the Company unless and until Del Mar completes all of its obligations under the Del Mar ATA. The Company is unsure what, if any, assets are currently held by Del Mar.

NOTE RECEIVABLE

NOTE RECEIVABLE	12 Months Ended
	Mar. 31, 2016
Receivables [Abstract]
NOTE RECEIVABLE	(7) NOTES RECEIVABLE On December 9, 2013, the Company made a loan totaling $211,000 in the form of a note receivable to Majestic Ventures S.a.r.l. The Company had a secondary security interest in certain assets of Majestic, which are participating life settlements. On September 10, 2015, the company received $1,094,335 as a result of a matured policy (see Note 6). $239,415 of these proceeds were allocated to pay off the note receivable (including interest).

COMMITMENTS, CONTINGENCIES AND

COMMITMENTS, CONTINGENCIES AND LEGAL MATTERS	12 Months Ended
	Mar. 31, 2016
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS, CONTINGENCIES AND LEGAL MATTERS	(8) COMMITMENTS, CONTINGENCIES AND LEGAL MATTERS Pursuant to a month-to-month lease agreement, we currently occupy office space located in Provo, Utah. The total lease expense is approximately $2,700 per month, payable in cash. We also entered into a lease agreement during November 2013 to lease 6,000 square feet of office space on a month-to-month basis in Irvine, California. The total rent agreement for the office space is $9,000 per month, payable in cash. Rent expense for the year ended March 31, 2016, was $112,956.

PROVISION FOR INCOME TAXES

PROVISION FOR INCOME TAXES	12 Months Ended
	Mar. 31, 2016
Income Tax Disclosure [Abstract]
PROVISION FOR INCOME TAXES	( 9) PROVISION FOR INCOME TAXES The Company recognizes the tax effects of transactions in the year in which such transactions enter into the determination of net income regardless of when reported for tax purposes. Deferred taxes are provided in the financial statements to give effect to the temporary differences which may arise from differences in the bases of fixed assets, depreciation methods and allowances based on the income taxes expected to be payable in future years. Minimal development stage deferred tax assets arising as a result of net operating loss carry-forwards have been offset completely by a valuation allowance due to the uncertainty of their utilization in future periods. In the Company’s opinion, it is uncertain whether it will generate sufficient taxable income in the future to fully utilize the net deferred tax asset. Accordingly, a full valuation allowance equal to the deferred tax asset has been recorded. The provision for income taxes for the years ended March 31, 2016, 2015 and 2014 consists of the following: 2016 2015 2014 Current Taxes Federal $ - $ - $ - State - - - Deferred Taxes Federal (1,027,873) (676,558) (485,850) Benefits of operating loss carryforwards 1,127,637 742,224 533,006 State (99,764) (65,666) (47,156) Total Provision $ - $ - $ - The tax effects of significant items comprising the Company’s net deferred taxes as of March 31, 2016, 2015 and 2014, were as follows: 2016 2015 2014 Deferred Tax assets: Net operating loss carry forwards $ 2,811,596 $ 1,574,512 $ 760,250 Stock and warrant compensation 650,196 512,465 356,608 Valuation allowance (274,811) (358,117) (303,518) Net deferred tax asset 3,186,981 1,728,860 813,340 Deferred tax liability: Investment in net insurance benefits (3,186,981) (1,728,860) (813,340) Net deferred tax liability $ - $ - $ - The cumulative Net Operating Loss (“NOL”) totaled $7,537,790 and $4,221,212 at March 31, 2016 and 2015, respectively, and will begin to expire in 2020. The total valuation allowance is equal to the total deferred tax asset less any associated deferred tax liabilities. The valuation allowance was $326,752 and $358,117 for the years ended March 31, 2016, and 2015, respectively. The income tax provision differs from the amount of income tax determined by applying the U.S. federal tax rate of 34% to pretax income from continuing operations for the years ended March 31, 2016, 2015 and 2014 due to the following: 2016 2015 2014 Income tax benefit at U. S. federal statutory rates: $ 28,468 $ (49,892) $ (70,087) State tax, net of federal benefit 2,762 (4,842) (6,803) Permanent and other differences 52,076 135 2,395 Net operating losses - - (188,209) Change in valuation allowance (83,306) 54,599 262,704 $ - $ - $ - The Company has no tax positions at March 31, 2016 and 2015, for which the ultimate deductibility is highly certain, but for which there is uncertainty about the timing of such deductibility. The Company recognizes interest accrued relative to unrecognized tax benefits in interest expense and penalties in operating expense. During the period from January 31, 2013 (date of inception), through March 31, 2016, the Company recognized no income tax related interest and penalties. The Company had no accruals for income tax related interest and penalties at March 31, 2016 and 2015. The tax years 2012 through 2016 remain open to examination for federal income tax purposes and by other major taxing jurisdictions to which we are subject.

NOTES PAYABLE AND LINES-OF-CRED

NOTES PAYABLE AND LINES-OF-CREDIT, RELATED PARTY	12 Months Ended
	Mar. 31, 2016
Related Party Transactions [Abstract]
NOTES PAYABLE AND LINES-OF-CREDIT, RELATED PARTY	(10) NOTES PAYABLE AND LINES-OF-CREDIT, RELATED PARTY As of March 31, 2016, the Company had borrowed $3,820,178 from related parties under notes payable and lines-of-credit agreements that allow for borrowings of up to $5,230,000 through the earlier of June 30, 2017, or when the Company completes a successful equity raise, at which time principal and interest is due in full. The notes payable and lines-of-credit incur interest at 7.5 percent, allow for origination fees and are collateralized by Investment in NIBs. The Company borrowed $2,520,178 and $1,500,000 under these agreements during the years ended March 31, 2016 and 2015, respectively. The Company also repaid $200,000 during the year ended March 31, 2016. The related parties include a person who is the Chairman of the Board of Directors and a stockholder, and Radiant Life, LLC, an entity partially owned by the Chairman of the Board of Directors.

NOTES PAYABLE TRANSFERRED TO RE

NOTES PAYABLE TRANSFERRED TO REDEEMED COMMON STOCK PAYABLE	12 Months Ended
	Mar. 31, 2016
Debt Disclosure [Abstract]
NOTES PAYABLE TRANSFERRED TO REDEEMED COMMON STOCK PAYABLE	(11) NOTES PAYABLE TRANSFERRED TO REDEEMED COMMON STOCK PAYABLE At March 31, 2014, the Company owed $1,455,904, including accrued interest, for notes payable. During the year ended March 31, 2015, the Company had accrued an additional $37,350 in interest. The note incurred interest at 4%, was collateralized by NIBs and was due in April 2015. During June 2015, the note payable and related accrued interest were converted to equity through the issuance of 187,500 shares of common stock and the holder was granted the right to require the Company to redeem the common stock for $8.00 per share. On June 9, 2015, the holder exercised a portion of the redemption right relating to 93,750 shares and, as a result, the Company paid the holder $750,000 to redeem the shares. On March 25, 2016, the holder exercised the redemption right in relation to the remaining shares and on April 12, 2016, the Company paid the holder an additional $750,000 to redeem the remaining shares. At March 31, 2016, the $750,000 associated with the redemption had been classified on the balance sheet as Mandatorily Redeemable Common Stock.

CONVERTIBLE DEBENTURE AGREEMENT

CONVERTIBLE DEBENTURE AGREEMENT	12 Months Ended
	Mar. 31, 2016
CONVERTIBLE DEBENTURE AGREEMENT [Abstract]
CONVERTIBLE DEBENTURE AGREEMENT	(12) CONVERTIBLE DEBENTURE AGREEMENT On June 2, 2015, the Company entered into an 8% convertible debenture agreement with Satco International, Ltd., that allows for borrowings of up to $3,000,000. The holder originally had the option to convert the outstanding principal and accrued interest to unregistered, restricted common stock of the Company on June 2, 2016. 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. The original maturity date was June 2, 2016, but was later extended to May 31, 2017. See footnote 17 “Subsequent Events” for discussion on an extension of the due date and the conversion rights to August 31, 2017. As of March 31, 2016, the Company owed $700,000 under the agreement.

STOCK OPTIONS

STOCK OPTIONS	12 Months Ended
	Mar. 31, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
STOCK OPTIONS	(13) STOCK OPTIONS On April 1, 2013, the Company granted a 5,000 share stock option to a former director, Jini Suttner. Ms. Suttner was a founder and a director of ANEW LIFE and was designated as a director of Sundance Strategies on the closing of the ANEW LIFE Merger on March 29, 2013, but resigned on April 1, 2013. The stock option was granted as compensation for her service, in conjunction with its planned adoption of a stock option or similar plan to be adopted in the near future for the benefit of employees, officers and directors that will outline the terms and conditions of the stock option which will not have any effect on the grant date, the exercise price or vesting that have been approved. The stock option has an exercise price of $0.77 per share, which vested immediately, and a contractual term of five years. The Company valued these options using the Black-Scholes option pricing model applying the simplified method for the expected term under the following assumptions: $1.0294 market price, $0.77 exercise price, 2.5 years expected life, 73% expected volatility, 0.30% risk free rate. On April 5, 2013, the Company issued 1,700,000 stock options to certain officers, employees and members of the Board of Directors of the Company. The stock options have an exercise price of $0.77 per share. All options have a contractual term of five years. Of the 1,700,000 stock options, 1,500,000 stock options vest in several tranches, wherein 937,500 vested on the grant date, and the remaining 562,500 stock options vest in equal tranches of 187,500 stock options on the grant date anniversary for the following three years. The Company valued the 1,500,000 options using the Black-Scholes option pricing model applying the simplified method under the following assumptions: $1.0294 market price, $0.77 exercise price, 3.5 years expected life, 68% volatility, 0.51% risk free rate. The remaining 200,000 stock options granted vest in several tranches, wherein 50,000 vested as of the grant date, and the remaining 150,000 stock options vesting in equal tranches on the grant date anniversary for the following three years. The Company valued the 200,000 options using the Black-Scholes option pricing model applying the simplified method under the following assumptions: $1.0294 market price, $0.77 exercise price, 3.5 years expected life, 68% volatility, 0.51% risk free rate. On April 5, 2013, the Company also issued 80,000 stock options to non-employees which vested immediately. The Company records the stock-based compensation awards issued to non-employees and other external entities for goods and services at either the fair market value of the goods received or services rendered or the instruments issued in exchange for such services, whichever is more readily determinable, using the measurement date guidelines enumerated in FASB ASC 505-50-30. The Company valued the 80,000 options using the Black-Scholes option pricing model under the following assumptions: $1.0294 market price, $0.77 exercise price, 5 years expected life, 79% volatility, 0.68% risk free rate. On October 11, 2013, the Company issued 400,000 stock options to an executive. The stock options have an exercise price of $5.00 per share. The options have a contractual term of five years. The 400,000 stock options vest in several tranches, wherein 10% of the options vesting six months after the date of issuance and the remaining options to vest monthly over the next 36 months subject to continuing employment with the Company. The Company valued the 400,000 options using the Black-Scholes option pricing model applying the simplified method under the following assumptions: $5.00 market price, $5.00 exercise price, 3.40 years expected life, 68% volatility, 0.76% risk free rate. On July 22, 2015, the Board of Directors approved an amendment to modify the vesting schedule for stock options issued to the executive. The amendment clarified that the option to purchase 400,000 shares of the Company’s $0.001 par value common stock at $5.00 per share, with a five year term, expiring March 31, 2018, was at a vesting rate of 11,111 stock options monthly, commencing with October, 2013, and ending with September 30, 2016, subject to continued employment with the Company. As a result of this modification, the Company recorded a true-up amortization expense of $98,655 during September 2015, to adjust the amortization of the stock options to the amended vesting schedule as of the modification date of July 22, 2015. In addition, the Company adjusted the going forward quarterly amortization, beginning July 2015, of the stock options from $73,202 to $78,728. No incremental value was applied to the amended stock options and, therefore, the original grant date fair value continues to be applicable. The Company has recorded stock-based compensation expense of $508,503 related to these options for year ended March 31, 2016. The remaining 182,571.78 will be recognized as stock based compensation expense ratably over the weighted average service period through September 2016. Date Issued Number of Options Weighted Average Exercise Price Weighted Average Grant Date Fair Value Remaining Contractual Term Value if Exercised Balance March 31, 2013 - $ - $ - - $ - Granted 2,185,000 1.54 0.91 4.50 3,374,450 Exercised - - - - - Cancelled/Expired - - - - - Outstanding as of March 31, 2014 2,185,000 $ 1.54 $ 0.91 4.50 $ 3,374,450 Granted - - - - - Exercised - - - - - Cancelled/Expired - - - - - Outstanding as of March 31, 2015 2,185,000 $ 1.54 $ 0.91 4.50 $ 3,374,450 Granted - - - - - Exercised - - - - - Cancelled/Expired (78,125) 0.77 0.57 - (60,156) Outstanding as of March 31, 2016 2,106,875 $ 1.57 $ 1.04 3.50 $ 3,314,294 Vested and Expected to Vest as of March 31, 2016 2,106,875 $ 1.57 $ 1.04 3.50 $ 3,314,294 Exercisable as of March 31, 2014 1,072,500 $ 1.54 $ 0.91 4.50 $ 1,656,338 Exercisable as of March 31, 2015 1,506,875 1.54 0.91 3.50 2,327,174 Exercisable as of March 31, 2016 1,865,205 1.57 $ 1.04 3.50 $ 2,934,126

WARRANTS

WARRANTS	12 Months Ended
	Mar. 31, 2016
Warrants and Rights Note Disclosure [Abstract]
WARRANTS	(14) WARRANTS On April 8, 2013, the Company approved a private placement of its common stock that provided for the payment of introduction fees in the form of cash and warrants and later amended. As a result of investments totaling $7,000,000 in this private offering by persons introduced to the Company, the Company authorized the issuance of 70,000 warrants to purchase 70,000 shares of the Company’s common stock. The warrants have an exercise price of $5.00 per share and have a contractual life of two years from the effective date of the funds invested in the offering by the parties introduced to the Company, which was May 31, 2013. The Company recorded $139,251 in stock issuance costs related to the warrants as of March 31, 2014. The Company valued the 70,000 warrants using the Black-Scholes option pricing model under the following assumptions: $5.00 market price, $5.00 exercise price, 2 years expected life, 73% expected volatility, 0.30% risk free rate. As of March 31, 2016, all warrants had expired. Number of Options Weighted Average Exercise Price Weighted Average Grant Date Fair Value Remaining Contractual Term Intrinsic Value Outstanding as of March 31, 2013 - $ - $ - - $ - Granted 70,000 5.00 1.92 1.17 - Cancelled/Expired - - - - - Outstanding as of March 31, 2014 70,000 $ 5.00 $ 1.92 1.17 $ - Granted - - - - - Cancelled/Expired - - - - - Outstanding as of March 31, 2015 70,000 $ 5.00 $ 1.92 0.17 - Granted - - - - - Cancelled/Expired (70,000) 5.00 1.92 - - Outstanding as of March 31, 2016 - $ - $ - - $ - Exercisable as of March 31, 2014 70,000 $ 5.00 $ 1.92 1.17 $ - Exercisable as of March 31, 2015 70,000 $ 5.00 $ 1.92 0.17 - Exercisable as of March 31, 2016 - $ - $ - - $ -

STOCK TRANSACTIONS

STOCK TRANSACTIONS	12 Months Ended
	Mar. 31, 2016
Stockholders' Equity Note [Abstract]
STOCK TRANSACTIONS	(15) STOCK TRANSACTIONS On April 8, 2013, the Company approved a private offering of up to 3,000,000 common shares of restricted stock to investors at $5.00 per share. The purpose of the offering was to acquire additional NIBs. As of the March 31, 2014, the Company has collected $11,792,500 for 2,358,500 common shares at $5.00 per share of which 2,218,500 shares were issued for cash of $11,092,500 and 140,000 shares are to be issued for cash of $700,000; paid $841,651 in introduction fees; and issued two year warrants to acquire 70,000 shares of our common stock at an exercise price of $5.00 per share. During July 2014 the Company issued 30,000 shares of common stock for cash of $150,000. During March 2015, we agreed to pay $150,000 in cash, issue 1,130,000 shares of common stock and forgive a note receivable with an outstanding amount of $150,000 in exchange for relief of a $1,493,254 note payable and the receipt of NIBs. The net consideration given for the relief of the note payable and receipt of NIBs totaled $1,493,254 and $7,846,746, respectively, for a total of $9,340,000. (See Notes 5, 11 and 18). Of the 1,130,000 common shares to be issued, 187,500 shares were subject to a redemption right that requires the Company to buy back the shares for $8.00 per share at the option of the holder. The total common stock still subject to the redemption right at March 31, 2016, was recorded as Mandatorily Redeemable Common Stock on the consolidated balance sheet (see Note 11). On June 9, 2015 the remaining 942,500 common shares were issued. In addition, as explained in Note 5, 11 and 18, the 187,500 of redeemable common shares were issued and subsequently redeemed.

LIQUIDITY AND CAPITAL REQUIREME

LIQUIDITY AND CAPITAL REQUIREMENTS	12 Months Ended
	Mar. 31, 2016
LIQUIDITY AND CAPITAL REQUIREMENTS [Abstract]
LIQUIDITY AND CAPITAL REQUIREMENTS	(16) LIQUIDITY AND CAPITAL REQUIREMENTS Since the Company’s inception on January 31, 2013, its operations have been primarily financed through sales of equity, debt financing, lines of credit from related parties and the issuance of notes payable and convertible debentures to related parties. As of March 31, 2016, the Company had $24,717 of cash assets, compared to $336,370 as of March 31, 2015. The Company’s monthly expenses are between approximately $140,000 and $290,000, which includes salaries of our employees, consulting agreements and contract labor, general and administrative expenses and estimated legal and accounting expenses. The Company believes that its existing capital resources, together with the issuance of additional notes payable and convertible debentures and availability under its existing lines of credit with related parties, will be sufficient to fund its operating working capital requirements for at least the next 12 months, or through June 15, 2017. While the Company believes it have sufficient liquidity and capital resources to fund its projected operating requirements through June 15, 2017, it does not anticipate having adequate cash flows from operations for three to four years, and until a revenue stream has been established, it will require debt or equity financing to fund its current and intended business and any future purchases of NIBs. If the Company is unable to raise sufficient capital through the planned securities and debt offerings or other alternative sources of financing, management will curtail NIB purchases. Under this plan, expenditures for NIBs will be curtailed. 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. To continue as a going concern beyond the year ended March 31, 2017, and in order to continue to purchase NIBs, the Company will need to raise additional capital to fund operations and purchase NIBs. Absent additional financing, the Company will not have the resources to execute its current business plan and continue operations.

QUARTERLY RESULTS

QUARTERLY RESULTS	12 Months Ended
	Mar. 31, 2016
Quarterly Financial Information Disclosure [Abstract]
QUARTERLY RESULTS	(17) QUARTERLY RESULTS The following table sets forth selected unaudited quarterly data for the periods shown as revised: 2016 2015 1st 2nd 3rd 4th 1st 2nd 3rd 4th Quarter Quarter Quarter Quarter Quarter Quarter Quarter Quarter Revenue $ 824,030 $ 863,439 $ 1,090,031 $ 1,131,671 $ 563,498 $ 592,653 $ 616,547 $ 681,780 Income (Loss) from Operations 228,076 (34,198) (459,645) 577,499 (52,868) 9,647 89,750 69,684 Net Income (Loss) 193,576 (85,049) (519,939) 495,141 (58,364) (2,906) (105,952) 20,482 Net Income (Loss) per Share: Basic 0.01 (0.01) (0.01) 0.01 - - (0.01) - Diluted 0.01 (0.01) (0.01) 0.01 - - (0.01) -

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	12 Months Ended
	Mar. 31, 2016
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	(18) SUBSEQUENT EVENTS As explained in Note 11, on April 12, 2016, 93,750 shares of Mandatorily Redeemable Common Stock were redeemed and cancelled by the Company for $750,000. During April 2016, the Company received an additional $1,417,870 in proceeds associated with the $10,000,000 maturity explained in Note 6 and miscellaneous adjustments to other underlying policies. On June 1, 2016, the Company agreed to amend the 8% Convertible Debenture Agreement (see Note 12) that extends the due date and conversion rights to August 31, 2017.

SUMMARY OF SIGNIFICANT ACCOUN25

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Mar. 31, 2016
Accounting Policies [Abstract]
Estimates	Estimates
Cash and Cash Equivalents	Cash and Cash Equivalents,
Income Recognition	Income Recognition, During the period from April 1, 2013 through December 31, 2013, the Company’s investment in NIBs was on non-accrual status. This decision was primarily based on the initial incremental uncertainty experienced by the Company during these first three quarters after closing on the first pool of NIBs. Management concluded these uncertainties were significantly mitigated in the fourth quarter of 2014, as additional experience and information was obtained, including the observation of the proper functioning of the entire system in response to the death of an insured in the fourth quarter of 2014. Non-accrual status was removed effective January 1, 2014.
Basic and Diluted Net Income (Loss) Per Common Share	Basic and Diluted Net Income (Loss) Per Common Share, The reconciliation between the basic and diluted weighted-average number of common shares for the years ended March 31, 2016 and 2015, is summarized as follows: March 31, March 31, March 31, Basic weighted-average number of common shares outstanding during the year 44,026,832 43,137,990 42,559,660 Weighted-average number of dilutive common stock equivalents outstanding during the year 1,346,376 - - Diluted weighted-average number of common and common equivalent shares outstanding during the year 45,373,208 43,137,990 42,559,660 Outstanding common stock equivalents not included in the computation of diluted net loss per common share totaled 1,766,374 as of March 31, 2015 and 1,208,152 as of March 31, 2014. These common stock equivalents were not included in the computation because to do so would have been antidilutive.
Stock Based Compensation	Stock Based Compensation
Reclassification - Not Material	Reclassification – Not Material Certain reclassifications have been made to the 2014 and 2015 balances to conform to the 2016 presentation. These reclassifications did not affect net income (loss) for the periods. The Company accounts for stock options to purchase shares of stock that are issued to non-employees based on the estimated fair value of such instruments using the Black-Scholes option pricing model. The measurement of stock-based compensation expense for these instruments is variable and subject to periodic adjustments to the estimated fair value until the awards vest. Any resulting change in the estimated fair value is recognized in the Company’s consolidated statements of operations during the period in which the related services are rendered.
Investment in Net Insurance Benefits	Investment in Net Insurance Benefits, The Company accounts for its investment in NIBs at the initial investment value increased for interest income and decreased for cash receipts received by the Company. At the time of transfer or purchase of an investment in NIBs, we estimate the future expected cash flows and determine the effective interest rate based on these estimated cash flows and our initial investment. Based on this effective interest rate, the Company calculates accretable income, which is recorded as interest income on investment in NIBs in the statement of operations. Subsequent to the purchase and on a regular basis, these future estimated cash flows are evaluated for changes. If the determination is made that the future estimated cash flows should be significantly adjusted, a revised effective yield is calculated prospectively based on the current amortized cost of the investment, including accrued accretion. Any positive or adverse change in cash flows that does not result in the recognition of an “other-than-temporary impairment” (“OTTI”) results in a prospective increase or decrease in the effective interest rate used to recognize interest income. We have not recognized any significant adverse change in future estimated cash flows relating to our investment in NIBs from January 31, 2013 (inception) to the period ended March 31, 2016. We evaluate the carrying value of our investment in NIBs for impairment on a regular basis and, if necessary, adjust our total basis in the NIBs using new or updated information that affects our assumptions. We recognize impairment on a NIB contract if the expected discounted cash flows are less than the carrying amount of the investment, plus anticipated undiscounted future premiums and direct external costs, if any. We have not recognized any impairment on our investment in NIBs from January 31, 2013 (inception), to the periods ended March 31, 2016. In estimating these cash flows for purposes of interest income and impairment calculations, there are a number of assumptions that are subject to uncertainties and contingencies. These include the amount and timing of projected net cash receipts, expected maturity events, counter party performance risk, changes to applicable regulation of the investment, shortage of funds needed to maintain the asset until maturity, changes in discount rates, life expectancy estimates and their relation to premiums, interest, and other costs incurred, among other items. These uncertainties and contingencies are difficult to predict and are subject to future events that may impact our estimates and interest income. As a result, actual results could differ significantly from those estimates.
Income Taxes	Income Taxes, The tax effects from an uncertain tax position can be recognized in the financial statements only if the position is more likely than not of being sustained if the position were to be challenged by a taxing authority. The Company has examined the tax positions taken in its tax returns and determined that there are no uncertain tax positions. As a result, the Company has recorded no uncertain tax liabilities in its balance sheet.
Principles of Consolidation	Principles of Consolidation,
Fair Value	Fair Value, Level 1: Quoted market prices in active markets for identical assets or liabilities. Level 2: Observable market based inputs or unobservable inputs that are corroborated by market data. Level 3: Unobservable inputs that are not corroborated by market data.

SUMMARY OF SIGNIFICANT ACCOUN26

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	12 Months Ended
	Mar. 31, 2016
Accounting Policies [Abstract]
Reconciliation of Basic and Diluted Weighted-Average Common Shares	The reconciliation between the basic and diluted weighted-average number of common shares for the years ended March 31, 2016 and 2015, is summarized as follows: March 31, March 31, March 31, Basic weighted-average number of common shares outstanding during the year 44,222,191 43,137,990 42,559,660 Weighted-average number of dilutive common stock equivalents outstanding during the year 1,151,017 - - Diluted weighted-average number of common and common equivalent shares outstanding during the year 45,373,208 43,137,990 42,559,660

INVESTMENT IN NET INSURANCE B27

INVESTMENT IN NET INSURANCE BENEFITS (Tables)	12 Months Ended
	Mar. 31, 2016
Investments, All Other Investments [Abstract]
Summary of Investments in Net Insurance Benefits	Investment in NIBs for the fiscal year ended March 31, 2016, and 2015 were as follows: March 31, 2016 March 31, 2015 Beginning Balance $ 22,544,635 $ 12,243,411 Transfers from Advance for Investment in NIBs 3,368,380 - Accretion of interest income 3,909,171 2,454,478 Additional purchases - 7,846,746 Distributions of investments - - Impairment of investments - - Total $ 29,822,186 $ 22,544,635
Schedule of Investments in Net Insurance Benefit Contracts	The table below describes the underlying life insurance policies relating to our investment in NIBs at March 31, 2016, with an adjustment made to reduce the Life Expectancies by the number of months since the last Life Expectancy report Adjusted Life Expectancies** (in years) Number of Interests in Life Settlement Contracts Face Value of Underlying Policies 0-1 4 $ 26,611,111 1-2 5 7,975,000 2-3 7 36,111,111 3-4 8 37,444,444 4-5 12 59,444,444 Thereafter 37 230,012,289 Total of all policies 72 $ 397,598,400 ** The Life Expectancy ("LE") input is the 70%/30% weighted average of two LEs available at the time of the original creation of the NIB portfolio. The Adjusted Life Expectancy is an unofficial calculation that simply reduces the original LE by the number of months since the last LE report. It should be noted that the insured’s health, medical conditions and other considerations may have changed since the LE report, so that the Adjusted LE is simply an estimate. These LEs were produced by third-party life expectancy companies and represent the actuarial mean of how long an individual is expected to live. The number is a calculation done with the LE provider's proprietary statistical model that is typically based on individualized mortality curves for each life factoring in the insured's gender, age, health and family history, medical conditions, and other considerations. In purchasing, financing or insuring life insurance policies or NIBs, we may use alternate life expectancy companies or may use weighted averages of two or more life expectancy companies, depending on the facts and circumstances of the case and requirements of the various counterparties. The life expectancy report is just an estimate, as the life expectancy of any individual cannot be known with absolute certainty.
Schedule of Future Estimated Premiums, Payments and Other Expenses Expected to be Paid on Insurance Benefit Contracts	The table below describes the future estimated premiums payments, other expenses and interest paid by external parties expected to be paid on the policies for the five years subsequent to March 31, 2016. Significant estimates are made as part of the calculation of the premium payments, other expenses and interest amounts identified in the table below. The following table only includes the percentage of the future estimated premium payments, other expenses and interest relating to the portfolio of which the Company only has partially owned NIBs. The following table does not include all of the estimation factors used by the Company in estimating expected net cash receipts for interest income calculation purposes, and is intended to only provide the estimated premium payments, other expenses and interest amounts related to the policies underlying the Company’s NIBs (totals do not include premiums, expenses and interest paid for prior years): Year Premiums Expenses + Interest Total Year 1 $ 13,233,777 $ 8,853,594 $ 22,087,371 Year 2 13,491,946 9,195,850 22,687,796 Year 3 15,064,136 8,639,077 23,703,213 Year 4 14,602,792 7,345,242 21,948,034 Year 5 14,264,110 7,442,259 21,706,369 Thereafter 35,907,837 28,949,802 64,857,639 Total $ 106,564,598 $ 70,425,824 $ 176,990,422

PROVISION FOR INCOME TAXES (Tab

PROVISION FOR INCOME TAXES (Tables)	12 Months Ended
	Mar. 31, 2016
Income Tax Disclosure [Abstract]
Schedule of Provision for Income Taxes	The provision for income taxes for the years ended March 31, 2016, 2015 and 2014 consists of the following: 2016 2015 2014 Current Taxes Federal $ - $ - $ - State - - - Deferred Taxes Federal (1,027,873) (676,558) (485,850) Benefits of operating loss carryforwards 1,127,637 742,224 533,006 State (99,764) (65,666) (47,156) Total Provision $ - $ - $ -
Schedule of Net Deferred Taxes	The tax effects of significant items comprising the Company’s net deferred taxes as of March 31, 2016, 2015 and 2014, were as follows: 2016 2015 2014 Deferred Tax assets: Net operating loss carry forwards $ 2,811,596 $ 1,574,512 $ 760,250 Stock and warrant compensation 650,196 512,465 356,608 Valuation allowance (274,811) (358,117) (303,518) Net deferred tax asset 3,186,981 1,728,860 813,340 Deferred tax liability: Investment in net insurance benefits (3,186,981) (1,728,860) (813,340) Net deferred tax liability $ - $ - $ -
Schedule of Income Tax Rate Reconciliation	The income tax provision differs from the amount of income tax determined by applying the U.S. federal tax rate of 34% to pretax income from continuing operations for the years ended March 31, 2016, 2015 and 2014 due to the following: 2016 2015 2014 Income tax benefit at U. S. federal statutory rates: $ 28,468 $ (49,892) $ (70,087) State tax, net of federal benefit 2,762 (4,842) (6,803) Permanent and other differences 52,076 135 2,395 Net operating losses - - (188,209) Change in valuation allowance (83,306) 54,599 262,704 $ - $ - $ -

STOCK OPTIONS (Tables)

STOCK OPTIONS (Tables)	12 Months Ended
	Mar. 31, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Schedule of Stock Option Activity	Date Issued Number of Options Weighted Average Exercise Price Weighted Average Grant Date Fair Value Remaining Contractual Term Value if Exercised Balance March 31, 2013 - $ - $ - - $ - Granted 2,185,000 1.54 0.91 4.50 3,374,450 Exercised - - - - - Cancelled/Expired - - - - - Outstanding as of March 31, 2014 2,185,000 $ 1.54 $ 0.91 4.50 $ 3,374,450 Granted - - - - - Exercised - - - - - Cancelled/Expired - - - - - Outstanding as of March 31, 2015 2,185,000 $ 1.54 $ 0.91 4.50 $ 3,374,450 Granted - - - - - Exercised - - - - - Cancelled/Expired (78,125) 0.77 0.57 - (60,156) Outstanding as of March 31, 2016 2,106,875 $ 1.57 $ 1.04 3.50 $ 3,314,294 Vested and Expected to Vest as of March 31, 2016 2,106,875 $ 1.57 $ 1.04 3.50 $ 3,314,294 Exercisable as of March 31, 2014 1,072,500 $ 1.54 $ 0.91 4.50 $ 1,656,338 Exercisable as of March 31, 2015 1,506,875 1.54 0.91 3.50 2,327,174 Exercisable as of March 31, 2016 1,865,205 1.57 $ 1.04 3.50 $ 2,934,126

WARRANTS (Tables)

WARRANTS (Tables)	12 Months Ended
	Mar. 31, 2016
Warrants and Rights Note Disclosure [Abstract]
Schedule of Warrant Activity	Number of Options Weighted Average Exercise Price Weighted Average Grant Date Fair Value Remaining Contractual Term Intrinsic Value Outstanding as of March 31, 2013 - $ - $ - - $ - Granted 70,000 5.00 1.92 1.17 - Cancelled/Expired - - - - - Outstanding as of March 31, 2014 70,000 $ 5.00 $ 1.92 1.17 $ - Granted - - - - - Cancelled/Expired - - - - - Outstanding as of March 31, 2015 70,000 $ 5.00 $ 1.92 0.17 - Granted - - - - - Cancelled/Expired (70,000) 5.00 1.92 - - Outstanding as of March 31, 2016 - $ - $ - - $ - Exercisable as of March 31, 2014 70,000 $ 5.00 $ 1.92 1.17 $ - Exercisable as of March 31, 2015 70,000 $ 5.00 $ 1.92 0.17 - Exercisable as of March 31, 2016 - $ - $ - - $ -

QUARTERLY RESULTS (Tables)

QUARTERLY RESULTS (Tables)	12 Months Ended
	Mar. 31, 2016
Quarterly Financial Information Disclosure [Abstract]
Schedule of Quarterly Results	The following table sets forth selected unaudited quarterly data for the periods shown as revised: 2016 2015 1st 2nd 3rd 4th 1st 2nd 3rd 4th Quarter Quarter Quarter Quarter Quarter Quarter Quarter Quarter Revenue $ 824,030 $ 863,439 $ 1,090,031 $ 1,131,671 $ 563,498 $ 592,653 $ 616,547 $ 681,780 Income (Loss) from Operations 228,076 (34,198) (459,645) 577,499 (52,868) 9,647 89,750 69,684 Net Income (Loss) 193,576 (85,049) (519,939) 495,141 (58,364) (2,906) (105,952) 20,482 Net Income (Loss) per Share: Basic 0.01 (0.01) (0.01) 0.01 - - (0.01) - Diluted 0.01 (0.01) (0.01) 0.01 - - (0.01) -

SUMMARY OF SIGNIFICANT ACCOUN32

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Narrative) (Details)	Mar. 31, 2016
Minimum [Member]
Percentage of net insurance benefits relating to underlying life insurance policies held by company	72.20%
Maximum [Member]
Percentage of net insurance benefits relating to underlying life insurance policies held by company	100.00%

SUMMARY OF SIGNIFICANT ACCOUN33

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Reconciliation of Basic and Diluted Weighted-Average Common Shares) (Details) - shares	12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2014
Accounting Policies [Abstract]
Basic weighted-average number of common shares outstanding during the year	44,026,832	43,137,990	42,559,660
Weighted-average number of dilutive common stock equivalents outstanding during the year	1,346,376
Diluted weighted-average number of common and common equivalent shares outstanding during the year	45,373,208	43,137,990	42,559,660
Outstanding common stock equivalents not included in the computation of diluted net loss per common		1,766,374	1,208,152

CASH AND CASH EQUIVALENTS (Deta

CASH AND CASH EQUIVALENTS (Details) - USD ($)	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2014	Mar. 31, 2013
Cash and Cash Equivalents [Abstract]
Cash and Cash Equivalents	$ 24,717	$ 336,370	$ 375,212	$ 545,417
FDIC insurance maximum	$ 250,000

INVESTMENT IN NET INSURANCE B35

INVESTMENT IN NET INSURANCE BENEFITS (Narrative) (Details) - USD ($)	1 Months Ended			12 Months Ended
	Jun. 30, 2015	Mar. 31, 2015	Mar. 31, 2014	Mar. 31, 2016	Sep. 30, 2015	Aug. 31, 2015	May 31, 2015
Investments, All Other Investments [Abstract]
Contracts that matured during the period	$ 10,000,000		$ 8,000,000
Percentage of net insurance benefits associated with a portfolio of life settlement policies having a face value that originally totaled $94,000,000				72.20%
Original face value of Net Insurance Benefits				$ 412,820,622
Total amount policy holders have paid on policy premiums and other expenses on insurance contracts				106,107,649
Face Value Of Collateral Against Cash Advances					$ 3,368,380	$ 84,000,000	$ 94,000,000
Accrued obligation related to ownership change				$ 826,665
Net consideration provided for receipt of net insurance benefits		$ 7,846,746

INVESTMENT IN NET INSURANCE B36

INVESTMENT IN NET INSURANCE BENEFITS (Summary of Investments in Net Insurance Benefits) (Details) - USD ($)	12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Investments, All Other Investments [Abstract]
Beginning Balance	$ 22,544,635	$ 12,243,411
Transfers from Advance for Investment in NIBs	3,368,380
Accretion of interest income	$ 3,909,171	$ 2,454,478
Additional purchases		$ 7,846,746
Distributions of investments
Impairment of investments
Total	$ 29,822,186	$ 22,544,635

INVESTMENT IN NET INSURANCE B37

INVESTMENT IN NET INSURANCE BENEFITS (Schedule of Investment in Net Insurance Benefit Contracts) (Details)	Mar. 31, 2016USD ($)item	[1]
Number of Interests in Life Settlement Contracts:
Number of interests in life settlement contracts, next twelve months | item	4
Number of interests in life settlement contracts, year two | item	5
Number of interests in life settlement contracts, year three | item	7
Number of interests in life settlement contracts, year four | item	8
Number of interests in life settlement contracts, year five | item	12
Number of interests in life settlement contracts, thereafter | item	37
Number of interests in life settlement contracts, total | item	72
Face Value of Underlying Policies:
Face value of underlying policies, next twelve months | $	$ 26,611,111
Face value of underlying policies, year two | $	7,975,000
Face value of underlying policies, year three | $	36,111,111
Face value of underlying policies, year four | $	37,444,444
Face value of underlying policies, year five | $	59,444,444
Face value of underlying policies, thereafter | $	230,012,289
Face value of underlying policies, total | $	$ 397,598,400
[1]	The Life Expectancy ('LE') input is the 70%/30% weighted average of two LEs available at the time of the original creation of the NIB portfolio. The Adjusted Life Expectancy is an unofficial calculation that simply reduces the original LE by the number of months since the last LE report. It should be noted that the insured's health, medical conditions and other considerations may have changed since the LE report, so that the Adjusted LE is simply an estimate. These LEs were produced by third-party life expectancy companies and represent the actuarial mean of how long an individual is expected to live. The number is a calculation done with the LE provider's proprietary statistical model that is typically based on individualized mortality curves for each life factoring in the insured's gender, age, health and family history, medical conditions, and other considerations. In purchasing, financing or insuring life insurance policies or NIBs, we may use alternate life expectancy companies or may use weighted averages of two or more life expectancy companies, depending on the facts and circumstances of the case and requirements of the various counterparties. The life expectancy report is just an estimate, as the life expectancy of any individual cannot be known with absolute certainty.

INVESTMENT IN NET INSURANCE B38

INVESTMENT IN NET INSURANCE BENEFITS (Schedule of Future Estimated Premiums Payments, Other Expenses and Interest Paid By External Parties) (Details)	Mar. 31, 2016USD ($)
Premiums:
Premiums to be paid, year one	$ 13,233,777
Premiums to be paid, year two	13,491,946
Premiums to be paid, year three	15,064,136
Premiums to be paid, year four	14,602,792
Premiums to be paid, year five	14,264,110
Premiums to be paid, thereafter	35,907,837
Premiums to be paid, total	106,564,598
Expenses + Interest:
Expense + Interest to be paid, year one	8,853,594
Expense + Interest to be paid, year two	9,195,850
Expense + Interest to be paid, year three	8,639,077
Expense + Interest to be paid, year four	7,345,242
Expense + Interest to be paid, year five	7,442,259
Expense + Interst to be paid, thereafter	28,949,802
Expense + Interest, total	70,425,824
Total Premiums, Interest and Expenses:
Total to be paid, year one	22,087,371
Total to be paid, year two	22,687,796
Total to be paid, year three	23,703,213
Total to be paid, year four	21,948,034
Total to be paid, year five	21,706,369
Total to be paid, thereafter	64,857,639
Premiums, interest and expenses, total	$ 176,990,422

ADVANCE FOR INVESTMENT IN NET39

ADVANCE FOR INVESTMENT IN NET INSURANCE BENEFITS (Details) - USD ($)	Sep. 10, 2015	Jun. 30, 2015	Mar. 31, 2014	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2014	Sep. 30, 2015	Aug. 31, 2015	May 31, 2015
ADVANCE FOR INVESTMENT IN NET INSURANCE BENEFITS [Abstract]
Collateral as Percentage of NIBs				81.00%
Face Value Of Collateral Against Cash Advances							$ 3,368,380	$ 84,000,000	$ 94,000,000
Contracts that matured during the period		$ 10,000,000	$ 8,000,000
Proceeds from matured policy	$ 1,094,335
Proceeds allocated to note receivable payoff	239,415
Proceeds allocated to reimbursement	547,308
Proceeds allocated to refund advance payments	$ 307,612
Proceeds allocated to reduce advance for Investments in NIBs				$ 854,920	$ 904,274
Advance for investments, cash advances, rate				100.00%
Net insurance benefits received				$ 90,600,000
Net insurance benefits, amount received, percentage				22.65%
Net insurance benefits, future amount				$ 400,000,000
Percentage of net insurance benefits associated with a portfolio of life settlement policies having a face value that originally totaled $94,000,000				72.20%
Percentage of net insurance benefits associated with a portfolio of life settlement policies having a face value that originally totaled $94,000,000 held by other parties				27.80%

NOTE RECEIVABLE (Details)

NOTE RECEIVABLE (Details) - USD ($)	Sep. 10, 2015	Dec. 09, 2013
Accounts, Notes, Loans and Financing Receivable [Line Items]
Proceeds from matured policy	$ 1,094,335
Proceeds allocated to note receivable payoff	$ 239,415
Notes Receivable [Member] | Majestic [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Face value of loan		$ 211,000

COMMITMENTS, CONTINGENCIES AN41

COMMITMENTS, CONTINGENCIES AND LEGAL MATTERS (Details)	12 Months Ended
	Mar. 31, 2016USD ($)ft²
Operating Leased Assets [Line Items]
Rent expense	$ 112,956
Provo, Utah Office [Member]
Operating Leased Assets [Line Items]
Monthly rental payment	2,700
Irvine, California Office [Member]
Operating Leased Assets [Line Items]
Monthly rental payment	$ 9,000
Area | ft²	6,000

PROVISION FOR INCOME TAXES (Nar

PROVISION FOR INCOME TAXES (Narrative) (Details) - USD ($)	12 Months Ended	38 Months Ended
	Mar. 31, 2016	Mar. 31, 2016	Mar. 31, 2015
Income Tax Contingency [Line Items]
Cumulative NOL	$ 7,537,790	$ 7,537,790	$ 4,221,212
NOL beginning expiration date	Dec. 31, 2020
Statutory federal tax rate	34.00%
Interest and penalties of income tax expense
Accrued interest and penalties
Minimum [Member]
Income Tax Contingency [Line Items]
Open tax years subject to examination	2,012
Maximum [Member]
Income Tax Contingency [Line Items]
Open tax years subject to examination	2,016

PROVISION FOR INCOME TAXES (Sch

PROVISION FOR INCOME TAXES (Schedule of Provision For Income Taxes) (Details) - USD ($)	12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2014
Current Taxes
Federal
State
Deferred Taxes
Federal	$ (1,027,873)	$ (676,558)	$ (485,850)
Benefits of operating loss carryforwards	1,127,637	742,224	533,006
State	$ (99,764)	$ (65,666)	$ (47,156)
Total Provisions

PROVISION FOR INCOME TAXES (S44

PROVISION FOR INCOME TAXES (Schedule of Net Deferred Taxes) (Details) - USD ($)	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2014
Deferred Tax assets:
Net operating loss carry forwards	$ 2,811,596	$ 1,574,512	$ 760,250
Stock and warrant compensation	650,196	512,465	356,608
Valuation allowance	(274,811)	(358,117)	(303,518)
Net deferred tax asset	3,186,981	1,728,860	813,340
Deferred tax liability:
Investment in net insurance benefits	$ (3,186,981)	$ (1,728,860)	$ (813,340)
Net deferred tax liability

PROVISION FOR INCOME TAXES (S45

PROVISION FOR INCOME TAXES (Schedule of Effective Income Tax Rate Reconciliation) (Details) - USD ($)	12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2014
Income Tax Disclosure [Abstract]
Income tax benefit at U. S. federal statutory rates:	$ 28,468	$ (49,892)	$ (70,087)
State tax, net of federal benefit	2,762	(4,842)	(6,803)
Permanent and other differences	$ 52,076	$ 135	2,395
Net operating losses			(188,209)
Change in valuation allowance	$ (83,306)	$ 54,599	$ 262,704
Total Provisions

NOTES PAYABLE AND LINES-OF-CR46

NOTES PAYABLE AND LINES-OF-CREDIT, RELATED PARTY (Details) - Stockholder [Member] - USD ($)	12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Related Party Transaction [Line Items]
Long-term Line of Credit	$ 3,820,178
Line of Credit Facility, Maximum Borrowing Capacity	$ 5,230,000
Related party note interest rate	7.50%
Proceeds from Lines of Credit	$ 2,520,178	$ 1,500,000
Repayments of Lines of Credit	$ 200,000

NOTES PAYABLE TRANSFERRED TO 47

NOTES PAYABLE TRANSFERRED TO REDEEMED COMMON STOCK PAYABLE (Details) - USD ($)	Jun. 09, 2015	Apr. 30, 2016	Mar. 31, 2015	Jun. 30, 2015	Mar. 31, 2015	Mar. 31, 2016	Mar. 31, 2014
Debt Instrument [Line Items]
Number of shares repurchased during the period	93,750		187,500
Value of shares repurchased during the period	$ 750,000
Mandatorily Redeemable Common Stock liability						$ 750,000
Repurchase price per share			$ 8		$ 8
NIB-Collateralized Note Payable [Member]
Debt Instrument [Line Items]
Notes Payable, including accrued interest							$ 1,455,904
Interest Payable			$ 37,350		$ 37,350
Interest rate			4.00%		4.00%
Maturity date					Apr. 1, 2015
Number of shares issued on conversion				187,500
Repurchase price per share				$ 8
Subsequent Event [Member]
Debt Instrument [Line Items]
Value of shares repurchased during the period		$ 750,000

CONVERTIBLE DEBENTURE AGREEME48

CONVERTIBLE DEBENTURE AGREEMENT (Details) - USD ($)	Jun. 02, 2016	Mar. 31, 2016	Mar. 31, 2015
Debt Instrument [Line Items]
Convertible Debenture		$ 700,000
Satco International, Ltd, 8% Convertible Debenture [Member]
Debt Instrument [Line Items]
Interest rate		8.00%
Maturity date		Jun. 2, 2016
Convertible Debenture		$ 700,000
Satco International, Ltd, 8% Convertible Debenture [Member] | Subsequent Event [Member]
Debt Instrument [Line Items]
Maturity date	Aug. 31, 2017
Satco International, Ltd, 8% Convertible Debenture [Member] | Maximum [Member]
Debt Instrument [Line Items]
Face amount of debt instrument		$ 3,000,000

STOCK OPTIONS (Narrative) (Deta

STOCK OPTIONS (Narrative) (Details) - USD ($)	Jul. 22, 2015	Sep. 30, 2015	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2014	Apr. 08, 2013
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options granted					2,185,000
Stock Price						$ 5
Stock-based compensation expense			$ 508,503
Unrecognized compensation cost related to stock options			$ 182,572
Option expense amortized		$ 98,655
Quarterly amortization expense going forward		78,728
Scenario, Previously Reported [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Quarterly amortization expense going forward		$ 73,202
Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options granted	400,000
Stock option term	5 years
Exercise price	$ 5
Shares vesting per month	11,111
April 1, 2013 [Member] | Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options granted			5,000
Stock option term			5 years
Stock Price			$ 1.0294
Exercise price			$ 0.77
Expected life			2 years 6 months
Volatility			73.00%
Risk free rate			0.30%
April 5, 2013 [Member] | Nonemployees [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares issued to nonemployees			80,000
Stock Price			$ 1.0294
Exercise price			$ 0.77
Expected life			5 years
Volatility			79.00%
Risk free rate			0.68%
April 5, 2013 [Member] | Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options granted			1,700,000
Stock option term			5 years
Exercise price			$ 0.77
April 5, 2013 [Member] | Stock Options [Member] | Tranche One [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options granted			1,500,000
Stock Price			$ 1.0294
Exercise price			$ 0.77
Expected life			3 years 6 months
Volatility			68.00%
Risk free rate			0.51%
Vesting period			3 years
Shares vesting on grant date			937,500
Shares vesting on each anniversary			562,500
Shares vesting equally			187,500
April 5, 2013 [Member] | Stock Options [Member] | Tranche Two [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options granted			200,000
Stock Price			$ 1.0294
Exercise price			$ 0.77
Expected life			3 years 6 months
Volatility			68.00%
Risk free rate			0.51%
Vesting period			3 years
Shares vesting on grant date			50,000
Shares vesting on each anniversary			150,000
October 11, 2013 [Member] | Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options granted			400,000
Stock option term			5 years
Stock Price			$ 5
Exercise price			$ 5
Expected life			3 years 4 months 24 days
Volatility			68.00%
Risk free rate			0.76%
October 11, 2013 [Member] | Stock Options [Member] | Tranche One [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period			6 months
Vesting rate			10.00%
October 11, 2013 [Member] | Stock Options [Member] | Tranche Two [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period			36 months

STOCK OPTIONS (Schedule of Stoc

STOCK OPTIONS (Schedule of Stock Option Activity) (Details) - USD ($)	12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2014
Stock option activity:
Outstanding at beginning of period	2,185,000	2,185,000
Granted			2,185,000
Exercised
Cancelled/Expired	(78,125)
Outstanding at end of period	2,106,875	2,185,000	2,185,000
Vested and expected to vest	2,106,875
Exercisable	1,865,205	1,506,875	1,072,500
Weighted Average Exercise Price
Outstanding at beginning of period	$ 1.54	$ 1.54
Granted			$ 1.54
Exercised
Cancelled/Expired	$ 0.77
Outstanding at end of period	1.57	$ 1.54	$ 1.54
Vested and expected to vest	1.57	1.54
Exercisable	1.57	1.54	$ 1.54
Weighted Average Grant Date Fair Value
Outstanding at beginning of period	$ 0.91	$ 0.91
Granted			$ 0.91
Exercised
Cancelled/Expired	$ 0.57
Outstanding at end of period	1.04	$ 0.91	$ 0.91
Vested and expected to vest	1.04
Exercisable	$ 1.04	$ 0.91	$ 0.91
Remaining Contractual Term
Granted			4 years 6 months
Exercised
Outstanding	3 years 6 months	3 years 6 months	4 years 6 months
Vested and expected to vest	3 years 6 months
Exercisable	3 years 6 months	3 years 6 months	4 years 6 months
Value if Exercised
Outstanding at beginning of period	$ 3,374,450	$ 3,374,450
Granted			$ 3,374,450
Exercised
Cancelled/Expired	$ (60,156)
Outstanding at end of period	3,314,294	$ 3,374,450	3,374,450
Vested and expected to vest	3,314,294
Exercisable	$ 2,934,126	$ 2,327,174	$ 1,656,338

WARRANTS (Narrative) (Details)

WARRANTS (Narrative) (Details) - USD ($)	Apr. 08, 2013	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2014
Class of Warrant or Right [Line Items]
Shares of common stock issuable under warrants	70,000			70,000
Offering price of shares offered through private placement	$ 5
Exercise price of warrants				$ 5
Fair Value of Warrants Issued as Stock Issuance Costs				$ 139,251
Warrant [Member]
Class of Warrant or Right [Line Items]
Private placement investment amount	$ 7,000,000
Number of warrants authorized for issuance	70,000
Offering price of shares offered through private placement	$ 5
Expected Term	2 years	2 years
Volatility		73.00%
Risk free rate		0.30%

WARRANTS (Schedule of Warrant A

WARRANTS (Schedule of Warrant Activity) (Details) - USD ($)	12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2014
Number of Warrants
Outstanding at beginning of period	70,000	70,000
Granted			70,000
Cancelled/Expired	(70,000)
Outstanding at end of period		70,000	70,000
Exercisable		70,000	70,000
Weighted Average Exercise Price
Outstanding at beginning of period	$ 5	$ 5
Granted			$ 5
Cancelled/Expired	$ 5
Outstanding at end of period		$ 5	5
Exercisable		5	5
Weighted Average Grant Date Fair Value
Outstanding at beginning of period	$ 1.92	$ 1.92
Granted			1.92
Cancelled/Expired	$ 1.92
Outstanding at end of period		$ 1.92	1.92
Exercisable		$ 1.92	$ 1.92
Remaining Contractual Term
Granted			1 year 2 months 1 day
Cancelled/Expired
Remaining contractual term, outstanding shares		2 months 1 day	1 year 2 months 1 day
Exercisable		2 months 1 day	1 year 2 months 1 day
Intrinsic Value
Outstanding at beginning of period
Granted
Cancelled/Expired
Outstanding at end of period
Exercisable

STOCK TRANSACTIONS (Details)

STOCK TRANSACTIONS (Details) - USD ($)	Jun. 09, 2015	Mar. 31, 2015	Jul. 31, 2014	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2014	Apr. 08, 2013
Stockholders' Equity Note [Abstract]
Total cash payment made as consideration for relief of note payable balance and receipt of net insurance benefits		$ 150,000
Shares issued through private stock offering	942,500	1,130,000	30,000			2,218,500
Notes receivable balance forgiven as consideration for relief of note payable balance and receipt of net insurance benefits		$ 150,000
Amount of notes payable balance extinguished		1,493,254
Net consideration provided for receipt of net insurance benefits		7,846,746
Value of shares issued through private stock offering		$ 9,340,000	$ 150,000		$ 150,000	$ 11,092,499
Number of shares repurchased during the period	93,750	187,500
Repurchase price per share		$ 8			$ 8
Maximum number of common shares of restricted stock offered through private placement							3,000,000
Offering price of shares offered through private placement							$ 5
Proceeds from issuance of common share issued through private placement						11,792,500
Value of common stock to be issued						$ 700,000
Shares to be issued						140,000
Payment of introduction fees						$ 841,651
Shared issued and issuable through private placement						2,358,500
Shares of common stock issuable under warrants						70,000	70,000
Exercise price of warrants						$ 5

LIQUIDITY AND CAPITAL REQUIRE54

LIQUIDITY AND CAPITAL REQUIREMENTS (Details) - USD ($)	12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2014	Mar. 31, 2013
Cash and Cash Equivalents	$ 24,717	$ 336,370	$ 375,212	$ 545,417
Minimum [Member]
Monthly expenses incurred by company	140,000
Maximum [Member]
Monthly expenses incurred by company	$ 290,000

QUARTERLY RESULTS (Details)

QUARTERLY RESULTS (Details) - USD ($)	3 Months Ended								12 Months Ended
	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2014
Quarterly Financial Information Disclosure [Abstract]
Revenue	$ 1,131,671	$ 1,090,031	$ 863,439	$ 824,030	$ 681,780	$ 616,547	$ 592,653	$ 563,498	$ 3,909,171	$ 2,454,478	$ 508,411
Income (Loss) from Operations	577,499	(459,645)	(34,198)	228,076	69,684	89,750	9,647	(52,868)	311,732	116,213	(1,769,598)
Net Income (Loss)	$ 495,141	$ (519,939)	$ (85,049)	$ 193,576	$ 20,482	$ (105,952)	$ (2,906)	$ (58,364)	$ 83,729	$ (146,740)	$ (206,138)
Basic and Diluted:
Basic	$ 0.01	$ (0.01)	$ (0.01)	$ 0.01		$ (0.01)			$ 0	$ (0.01)	$ (0.01)
Diluted	$ 0.01	$ (0.01)	$ (0.01)	$ 0.01		$ (0.01)			$ 0	$ (0.01)	$ (0.01)

SUBSEQUENT EVENTS (Details)

SUBSEQUENT EVENTS (Details) - USD ($)	Jun. 02, 2016	Apr. 30, 2016	Jun. 30, 2015	Mar. 31, 2014	Mar. 31, 2016
Subsequent Event [Line Items]
Contracts that matured during the period			$ 10,000,000	$ 8,000,000
Satco International, Ltd, 8% Convertible Debenture [Member]
Subsequent Event [Line Items]
Maturity date					Jun. 2, 2016
Subsequent Event [Member]
Subsequent Event [Line Items]
Number of shares retired during the period		93,750
Amount of shares retired during the period		$ 750,000
Contracts that matured during the period		$ 1,417,870
Subsequent Event [Member] | Satco International, Ltd, 8% Convertible Debenture [Member]
Subsequent Event [Line Items]
Maturity date	Aug. 31, 2017