Dakota Territory Resource (DTRC) 10-Q 14 Nov 16 2017 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Sep. 30, 2016	Nov. 07, 2016
Document and Entity Information:
Entity Registrant Name	DAKOTA TERRITORY RESOURCE CORP
Document Type	10-Q
Document Period End Date	Sep. 30, 2016
Trading Symbol	dtrc
Amendment Flag	false
Entity Central Index Key	1,182,737
Current Fiscal Year End Date	--03-31
Entity Common Stock, Shares Outstanding		57,006,787
Entity Filer Category	Smaller Reporting Company
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q2

BALANCE SHEETS (Unaudited)

BALANCE SHEETS (Unaudited) - USD ($)	Sep. 30, 2016	Mar. 31, 2016
CURRENT ASSETS
Cash and cash equivalents	$ 1,301	$ 15,551
Note receivable from related party	0	12,500
Prepaid expenses and other current assets	4,750	8,927
Total current assets	6,051	36,978
Other assets	2,500	2,500
Mineral properties	199,566	199,566
TOTAL ASSETS	208,117	239,044
CURRENT LIABILITIES
Accounts payable and accrued liabilities	503,118	470,654
Accounts payable, related party	877,742	736,692
Line of credit	39,128	40,766
Notes payable	305,550	305,550
Note payable to related party	290,000	265,000
Convertible notes payable,	100,000	100,000
Total current liabilities	2,115,538	1,918,662
Total liabilities	2,115,538	1,918,662
COMMITMENTS AND CONTINGENCIES
SHAREHOLDERS' DEFICIT
Preferred stock, par value $0.001; 10,000,000 shares authorized, no shares issued and outstanding as of September 30, 2016 and March 31, 2016, respectively	0	0
Common stock, par value $0.001; 300,000,000 shares authorized, 57,066,787 and 56,716,787 shares issued and outstanding as of September 30, 2016 and March 31, 2016, respectively	57,067	56,717
Additional paid-in capital	1,752,536	1,747,886
Accumulated deficit	(3,717,024)	(3,484,221)
Total shareholders' deficit	(1,907,421)	(1,679,618)
TOTAL LIABILITIES AND SHAREHOLDERS' DEFICIT	$ 208,117	$ 239,044

BALANCE SHEETS PARENTHETICALS

BALANCE SHEETS PARENTHETICALS - USD ($)	Sep. 30, 2016	Mar. 31, 2016
Parentheticals
Discount on Convertible notes payable	$ 0	$ 0
Preferred Stock, Par Value	$ 0.001	$ 0.001
Preferred Stock, Shares Authorized	10,000,000	10,000,000
Common Stock, Par Value	$ 0.001	$ 0.001
Common Stock, Shares Authorized	300,000,000	300,000,000
Common Stock, Shares Issued	57,066,787	56,716,787
Common Stock, Shares Outstanding	57,066,787	56,716,787

STATEMENTS OF OPERATIONS (Unaud

STATEMENTS OF OPERATIONS (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
OPERATING EXPENSES
Exploration costs	$ 21,855	$ 21,920	$ 21,855	$ 22,220
General and administrative expenses	82,916	115,315	195,347	243,885
Total operating expenses	104,771	137,235	217,202	266,105
LOSS FROM OPERATIONS	(104,771)	(137,235)	(217,202)	(266,105)
OTHER INCOME (EXPENSE)
Derivative income (expense)	0	(9,739)	0	(63,969)
Interest expense	(7,801)	(81,343)	(15,601)	(103,254)
Total other income (expense)	(7,801)	(91,082)	(15,601)	(167,223)
NET LOSS	$ (112,572)	$ (228,317)	$ (232,803)	$ (433,328)
Net loss per share: Basic and diluted net loss per share	$ 0	$ 0	$ 0	$ (0.01)
Weighted average shares outstanding: Basic and diluted	56,987,983	53,738,216	56,858,044	53,738,216

STATEMENTS OF CASH FLOWS (Unaud

STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)	6 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (232,803)	$ (433,328)
Adjustments to reconcile net loss to net cash used in operating activities:
Shares issued for services	0	17,750
Derivative expense	0	63,969
Amortization of debt discount	0	84,737
Changes in current assets and current liabilities:
Prepaid expenses and other assets	4,177	(1,430)
Accounts payable & accrued liabilities	32,464	41,255
Accounts payable, related party	141,050	141,000
Net cash used in operating activities	(55,112)	(86,047)
Cash Flows From Investing Activities:
Repayment of note receivable to related party	(12,500)	(12,500)
Investment in mineral properties	0	(8,000)
Net cash provided by (used in) investing activities	12,500	(20,500)
Cash Flows From Financing Activities:
Proceeds from the issuance of note payable - related party	25,000	0
Proceeds from the issuance of common stock	5,000	0
Proceeds from the issuance of convertible note payable	0	100,000
Proceeds from (repayments of) line of credit	(1,638)	10,110
Net cash provided by financing activities	28,362	110,110
Net change in cash	(14,250)	3,563
Cash and Cash Equivalents, Beginning of Period	15,551	2,355
Cash and Cash Equivalents, End of Period	1,301	5,918
Supplemental Disclosure of Cashflow Information
Interest paid	0	0
Taxes paid	0	0
Supplemental Disclosure of Non cash Investing and Financing Activities
Debt discount on convertible note	$ 0	$ 100,000

Basis of Presentation

Basis of Presentation	6 Months Ended
	Sep. 30, 2016
Basis of Presentation:
Basis of Presentation	Note 1—Basis of Presentation The accompanying unaudited interim financial statements of Dakota Territory Resource Corp. (“we”, “us”, “our”, the “Company”, the “Corporation”) have been prepared in accordance with accounting principles generally accepted in the United States of America and the rules of the Securities and Exchange Commission (“SEC”), and should be read in conjunction with the audited financial statements and notes thereto contained in our annual report on Form 10-K, for the year ended March 31, 2016 as filed with the SEC. In the opinion of management, all adjustments, consisting of normal recurring adjustments, necessary for a fair presentation of financial position and the results of operations for the interim periods presented have been reflected herein. The results of operations for interim periods are not necessarily indicative of the results to be expected for the full year. Notes to the financial statements which would substantially duplicate the disclosures contained in the audited financial statements for the most recent fiscal year ended March 31, 2016 as reported in our annual report on Form 10-K, have been omitted. The Company’s absence of revenues, recurring losses from operations, and its need for significant additional financing in order to fund its projected loss in 2017 raise substantial doubt about its ability to continue as a going concern. The accompanying financial statements do not include any adjustments that might result from the outcome of this uncertainty.

Related Party Transactions

Related Party Transactions	6 Months Ended
	Sep. 30, 2016
Related Party Transactions:
Related Party Transactions	Note 2—Related Party Transactions Effective October 1, 2005, we began paying a management consulting fee to Minera Teles Pires Inc., a company controlled by the President and director of the Company. The agreement provides a fixed fee of $10,000 per month which has been deferred until financing is obtained by us. Additionally, the agreement provides for a payment of $1,500 per month for office rent and expenses. During the six months ended September 30, 2016, we incurred approximately $69,000 in management fees and rent from Minera Teles Pires Inc. As of September 30, 2016, we owed Minera Teles Pires approximately $453,600 for management fees and out of pocket expenses. Effective February 24, 2012, we began paying consulting fees to Jerikodie, Inc., a company controlled by our Vice President and a director of the Company. The agreement provides a fixed fee of $9,000 per month plus approved expenses. During the six months ended September 30, 2016, we incurred approximately $54,000 in consulting fees from Jerikodie, Inc. As of September 30, 2016 we owed Jerikodie, Inc. approximately $345,100 for consulting fees and out of pocket expenses. On March 19, 2013, the Company entered into an agreement with Wm Chris Mathers to compensate Mr. Mathers as the Company’s CFO and agreed to pay Mr. Mathers cash in the amount of $1,000 per month increasing to $2,000 per month on September 1, 2013 and to $3,000 per month on March 1, 2014. During the six months ended September 30, 2016, we incurred $18,000 in compensation to Mr. Mathers. As of September 30, 2016, we owed Mr. Mathers $79,000 for consulting fees. On August 26, 2016 the Company issued a note payable in the amount of $25,000 to Minera Teles Pires Inc., a Company controlled by our President, for the purpose of funding ongoing operating expenses. The note bears annual interest of 3% and is due and payable October 26, 2016. This loan remains outstanding as of the date of this filing.

Mineral Properties

Mineral Properties	6 Months Ended
	Sep. 30, 2016
Mineral Properties:
Mineral Properties	Note 3 — Mineral Properties On September 26, 2012, the Company was re-organized with North Homestake Mining Company. With this re-organization, the Company acquired 84 unpatented lode mining claims covering approximately 1,600 acres known as the Blind Gold Property located in the Black Hills of South Dakota. On December 28, 2012, the Company acquired 57 unpatented lode mining claims covering approximately 853 acres known as the West False Bottom Creek and Paradise Gulch Claim Group, the City Creek Claims Group, and the Homestake Paleoplacer Claims Group, all located in the Black Hills of South Dakota. The West False Bottom Creek and Paradise Gulch Claims were contiguous to the Blind Gold Property and have been incorporated into the Blind Gold Property. The purchase price was 1,000,000 restricted common shares valued at $0.15 per share, or $150,000. On February 24, 2014 the Company acquired surface and mineral title to the 26.16 acres of the Squaw and Rubber Neck Lodes that comprise Mineral Survey 1706 in the Black Hills of South Dakota. Located immediately to the north and adjoining the Company’s Paleoplacer Property, Mineral Survey 1706 was explored by Homestake Mining Company in the late 1980’s. The Company is required to make annual lease payments of $8,000 for a period of 5 years, of which $8,000 was due upon execution of the agreement. The Company has an option to purchase the mineral property for $120,000. The annual lease payments are capitalized as part of the mineral properties. On March 3, 2014 , The Company plans to commence an exploratory program on these mineral properties as soon as financing can be arranged. September 30, March 31, 2016 2016 Capitalized costs $ 199,566 $ 199,566 Accumulated amortization - - Impairment - - Capitalized costs, net $ 199,566 $ 199,566

Notes Payable

Notes Payable	6 Months Ended
	Sep. 30, 2016
Notes Payable {1}
Notes Payable	Note 4—Notes Payable The following notes payable are unsecured and bear interest at 5% per annum. They are due on demand: Date Maturity Interest rate Principal Interest Total Nov 15, 2005 On demand 5% per annum $ 82,775 $ 43,995 $ 126,770 Dec 01, 2005 On demand 5% per annum $ 18,800 $ 9,992 $ 28,792 Jan 06, 2006 On demand 5% per annum $ 100,000 $ 53,150 $ 153,150 Jul 14, 2006 On demand 5% per annum $ 103,975 $ 55,264 $ 159,239 Total $ 305,550 $ 162,401 $ 467,951 Notes Payable to Related Party The Company had 11 notes payable to its President pursuant to advances which had historically been made by the President. The notes were dated between March 2011 and August 2012, were unsecured, ranged in amount from $10,000 to $50,000, and bore interest at 12% per annum. These notes were re-structured and combined on March 27, 2013 into a single promissory note payable (the “New Note”). In conjunction with this restructuring, the President forgave accrued interest totalling $57,817 (recorded as an equity transaction). The New Note is unsecured, has a principal amount of $265,000, and bears interest at 4% per annum. The Company will apply 10% of the gross proceeds from any equity financing in an amount exceeding $0.5 million (whether one or more transactions) from and after the date hereof to prepay principal and accrued interest. All remaining unpaid principal and interest was due at March 27, 2016 and remains unpaid. On August 26, 2016 the Company issued a note payable in the amount of $25,000 to Minera Teles Pires Inc., a Company controlled by our President, for the purpose of funding ongoing operating expenses. The note bears annual interest of 3% and is due and payable October 26, 2016. This loan remains outstanding as of the date of this filing. As of September 30, 2016, the balance of the promissory note payable amounted to $595,550, of which $290,000 is due to related party on the balance sheet.

Convertible Notes Payable

Convertible Notes Payable	6 Months Ended
	Sep. 30, 2016
Convertible Notes Payable:
Convertible Notes Payable	Note 5—Convertible Notes Payable On August 14, 2008, the Company executed a 5% convertible note of $100,000 that was due August 13, 2010. The note is now due and payable, however the lender has to date made no request for payment. The note may be converted from time to time, all or any part of the principal plus any unpaid accrued interest ($41,319 as of September 30, 2016) thereof into common stock of the Company at a conversion price per share equal to the greater of i) the closing market price per share of the common stock on the trading day immediately preceding the date of conversion as quoted on the OTC-BB or such other exchange upon which the Company’s shares are then listed or traded, or ii) $200 per share. The conversion price shall be subject to adjustments. The minimum amount to be converted is $10,000. The embedded derivative feature is subject to fair value accounting at each financial statement date until settled. As of September 30, 2016, the fair value of the embedded derivative liability was immaterial. As of September 30, 2016, this note is outstanding. On June 15, 2015, the Company executed a 5% convertible note in the amount of $100,000 that came due December 15, 2015. The note provided for the conversion of all or any part of the principal plus any unpaid accrued interest thereof into common stock of the Company at a conversion price of the lowest bid price less fifty (50%) percent during previous 5 days trading before the conversion date. The Company recorded a derivative liability since the note may be converted into shares at a variable rate. The derivative liability recorded at the time of the note’s inception was approximately $162,500 and a debt discount in the amount of approximately $100,000. During the six months ended September 30, 2015, the Company recorded derivative expense of approximately $64,000. On November 15, 2015, the holder of the note exercised the option to convert the note into 2,928,571 shares of our common stock at a price of $0.035 per share. The shares were issued on January 15, 2016.

Line of Credit

Line of Credit	6 Months Ended
	Sep. 30, 2016
Line of Credit:
Line of Credit	Note 6—Line of Credit We executed a Line of Credit with Wells Fargo Bank in California. The Line of Credit allows us to borrow up to $47,500. The balance of this Line of Credit at September 30, 2016 was approximately $39,000.

Common Stock

Common Stock	6 Months Ended
	Sep. 30, 2016
Common Stock:
Common Stock	Note 7—Common Stock Our authorized capital stock consists of 300,000,000 shares of common stock, with a par value of $0.001 per share, and 10,000,000 preferred shares with a par value of $0.001 per share. During the first quarter 2017, we received $5,000 from an investor for 50,000 shares of our common stock at a price of $0.10 per share. During the first quarter 2017, we issued 100,000 shares of our common stock for consulting services for services performed in the previous fiscal year. On July 29, 2016, we issued 250,000 shares of our common stock, priced at $0.06 per share, to an investor under a subscription agreement dated March 4, 2016. At September 30, 2016, the total issued and outstanding shares were 57,066,787. Common Stock Options and Warrants A summary of the Company's stock option activity and related information for the period ended September 30, 2016 is as follows: Options Price Range Outstanding March 31, 2016 7,350,000 $ 0.06 – 0.14 Granted - - Cancelled/Expired - - Exercised - - Outstanding September 30, 2016 7,350,000 0.06 – 0.14 Exercisable September 30, 2016 7,350,000 $ 0.06 – 0.14 A summary of the Company's stock warrant activity and related information for the period ended September 30, 2016 is as follows: Warrants Price Range Outstanding March 31, 2016 1,000,000 $ 0.23 Granted - - Cancelled/Expired - - Exercised - - Outstanding September 30, 2016 1,000,000 0.23 Exercisable September 30, 2016 1,000,000 $ 0.23

Subsequent Events

Subsequent Events	6 Months Ended
	Sep. 30, 2016
Subsequent Events:
Subsequent Events	Note 8 — Subsequent Events On October 13, 2016, the Company issued a note payable in the amount of $30,000 to Minera Teles Pires Inc., a Company controlled by our President, for the purpose of funding ongoing corporate expenses. The note bears annual interest of 3% and is due and payable December 14, 2016.

Schedule of Mineral Properties

Schedule of Mineral Properties (Tables)	6 Months Ended
	Sep. 30, 2016
Schedule of Mineral Properties:
Schedule of Mineral Properties	The Company plans to commence an exploratory program on these mineral properties as soon as financing can be arranged. September 30, March 31, 2016 2016 Capitalized costs $ 199,566 $ 199,566 Accumulated amortization - - Impairment - - Capitalized costs, net $ 199,566 $ 199,566

Schedule of Notes Payable and M

Schedule of Notes Payable and Maturities of Debt (Tables)	6 Months Ended
	Sep. 30, 2016
Schedule of Notes Payable and Maturities of Debt
Schedule of Notes Payable and Maturities of Debt	The following notes payable are unsecured and bear interest at 5% per annum. They are due on demand: Date Maturity Interest rate Principal Interest Total Nov 15, 2005 On demand 5% per annum $ 82,775 $ 43,995 $ 126,770 Dec 01, 2005 On demand 5% per annum $ 18,800 $ 9,992 $ 28,792 Jan 06, 2006 On demand 5% per annum $ 100,000 $ 53,150 $ 153,150 Jul 14, 2006 On demand 5% per annum $ 103,975 $ 55,264 $ 159,239 Total $ 305,550 $ 162,401 $ 467,951

Schedule of Common stock (Table

Schedule of Common stock (Tables)	6 Months Ended
	Sep. 30, 2016
Schedule of Common stock:
Schedule of Stock Options Activity	A summary of the Company's stock option activity and related information for the period ended September 30, 2016 is as follows: Options Price Range Outstanding March 31, 2016 7,350,000 $ 0.06 – 0.14 Granted - - Cancelled/Expired - - Exercised - - Outstanding September 30, 2016 7,350,000 0.06 – 0.14 Exercisable September 30, 2016 7,350,000 $ 0.06 – 0.14
Schedule of Stock Warrants Activity	A summary of the Company's stock warrant activity and related information for the period ended September 30, 2016 is as follows: Warrants Price Range Outstanding March 31, 2016 1,000,000 $ 0.23 Granted - - Cancelled/Expired - - Exercised - - Outstanding September 30, 2016 1,000,000 0.23 Exercisable September 30, 2016 1,000,000 $ 0.23

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($)	Sep. 30, 2016	Aug. 26, 2016	Mar. 01, 2014	Sep. 01, 2013	Mar. 19, 2013	Feb. 24, 2012	Oct. 01, 2005
Related Party Transactions Details
Fixed Consulting fee per month to Minera Teles Pires Inc.							$ 10,000
Payment per month for office rent and expenses							$ 1,500
Owed Minera Teles Pires for management fees and out of pocket expenses	$ 453,600
Payment of fixed consulting fees per month to Jerikodie, Inc						$ 9,000
Owed Jerikodie, Inc. for management fees and out of pocket expenses	345,100
Amount to be paid as compensation per month to Mr. Mathers as Company's CFO			$ 3,000	$ 2,000	$ 1,000
Amount owed to Mr. Mathers for consulting fees	$ 79,000
Company issued a note payable in the amount to Minera Teles Pires Inc.,		$ 25,000
The note bears annual interest		3.00%

Related Party Transactions - Du

Related Party Transactions - During the period (Details)	6 Months Ended
	Sep. 30, 2016USD ($)
Related Party Transactions - During the period Details
Incurred in management fees and rent from Minera Teles Pires Inc	$ 69,000
Incurred in consulting fees from Jerikodie, Inc	54,000
Incurred in compensation to Mr. Mathers	$ 18,000

Mineral Properties Reorganizati

Mineral Properties Reorganization (Details)	Mar. 03, 2014USD ($)	Feb. 24, 2014USD ($)	Dec. 28, 2012USD ($)$ / sharesshares	Sep. 26, 2012
Mineral Properties Reorganization Details
Unpatented lode mining claims			57	84
Area (in acres) located in the Black Hills of South Dakota			853	1,600
Common shares issued in lieu of mining claims | shares			1,000,000
Value per share of common shares issued in lieu of mining claims | $ / shares			$ 0.15
Value of shares issued			$ 150,000
Company acquired surface and mineral title of the Squaw and Rubber Neck Lodes in acres		26.16
The Company is required to make annual lease payments for a period of 5 years		$ 8,000
Amount due upon execution of the agreement		8,000
The Company has an option to purchase the mineral property		$ 120,000
Company completed the acquisition of approximately mineral acres in the Northern Black Hills	565.24
The acquisition increased our mineral interests in the Homestake District by nearly 3057 acres	23.00%
The purchase price of the mineral interests	$ 33,335
As part of the property acquisition, the Company purchased an additional mineral acres located immediately southwest and contiguous to our Paleoplacer Property.	64.39

Exploratory program of mineral

Exploratory program of mineral properties (Details) - USD ($)	Sep. 30, 2016	Mar. 31, 2016
Exploratory program of mineral properties
Capitalized costs	$ 199,566	$ 199,566
Accumulated amortization	0	0
Impairment	0	0
Capitalized costs, net	$ 199,566	$ 199,566

Promissory Notes Payable unsecu

Promissory Notes Payable unsecured and due on demand (Details) - USD ($)	Sep. 30, 2016	Jul. 14, 2006	Jan. 06, 2006	Dec. 01, 2005	Nov. 15, 2005
Unsecured promissory notes payable on demand
Interest rate per annum on promissory notes	5.00%	5.00%	5.00%	5.00%	5.00%
Principal amount of promissory notes	$ 305,550	$ 103,975	$ 100,000	$ 18,800	$ 82,775
Interest amount on promissory notes	162,401	55,264	53,150	9,992	43,995
Total of promissory notes	$ 467,951	$ 159,239	$ 153,150	$ 28,792	$ 126,770

Notes Payable to Related Party

Notes Payable to Related Party (Details) - USD ($)	Sep. 30, 2016	Aug. 26, 2016
Notes Payable to Related Party
Notes payable to its President ranged in amount minimum	$ 10,000
Notes payable to its President ranged in amount maximum	$ 50,000
Interest rate per annum	12.00%
Accrued Interest forgiven by President	$ 57,817
New Note is unsecured, with a principal amount	$ 265,000
Interest rate per annum	4.00%
Company will apply percent of the gross proceeds from any equity financing	10.00%
Equity financing exceeding amount (in million) on which 10% applied	0.5
Balance of the promissory note payable	$ 595,550
Amount recorded as due to related party on the balance sheet	$ 290,000
Company issued a note payable in the amount to Minera Teles Pires Inc., a Company controlled by our President, for the purpose of funding ongoing operating expenses.		$ 25,000

Convertible Notes Payable (Deta

Convertible Notes Payable (Details) - USD ($)	Sep. 30, 2016	Jun. 30, 2016	Nov. 15, 2015	Jun. 15, 2015	Aug. 14, 2008
Convertible Notes Payable Details
Percentage of interest on convertible note executed				5.00%	5.00%
Amount of convertible note executed				$ 100,000	$ 100,000
Amount of the principal plus any unpaid accrued interest as of	$ 41,319	$ 56,298
Conversion rate per share					$ 200
Minimum amount to be converted					$ 10,000
Minimum amount to be converted outstanding	10,000
Derivative liability recorded at the time of the note's inception				162,500
Debt discount recorded at the time of the note's inception				$ 100,000
Company recorded derivative expense	$ 64,000
The holder of the note exercised the option to convert the note into shares			2,928,571
Conversion rate per share of common stock			$ 0.035

Line Of Credit Note With Wells

Line Of Credit Note With Wells Fargo Bank (Details)	Sep. 30, 2016USD ($)
Line Of Credit Note With Wells Fargo Bank
Maximum allowed limit for the line of credit note with Wells Fargo Bank	$ 47,500
Balance of line of credit	$ 39,500

Capital stock transactions (Det

Capital stock transactions (Details)	Sep. 30, 2016USD ($)$ / sharesshares
Capital stock transactions
Authorized common stock shares	300,000,000
Par value of common stock authorized shares | $ / shares	$ 0.001
Authorized preferred stock shares	10,000,000
Par value of preferred stock authorized shares | $ / shares	$ 0.001
Received from an investor shares of common stock	50,000
Common stock per share | $ / shares	$ 0.10
Received from an investor shares of common stock valued | $	$ 5,000
Issued shares of our common stock for consulting services	100,000
Total issued and outstanding shares	57,066,787

Summary of the Company's stock

Summary of the Company's stock option activity (Details) - $ / shares	Sep. 30, 2016	Mar. 31, 2016
Options
Stock options Outstanding	7,350,000	7,350,000
Granted Options	0	0
Cancelled/Expired Options	0	0
Exercised Options	0	0
Exercisable Stock options	7,350,000	0
Price Range
Stock options Outstanding Price Range minimum	$ 0.06	$ 0.06
Stock options Outstanding Price Range maximum	0.14	$ 0.14
Exercisable Stock options Price Range minimum	0.06
Exercisable Stock options Price Range maximum	$ 0.14

Summary of the Company's stoc27

Summary of the Company's stock warrant activity (Details) - $ / shares	Sep. 30, 2016	Mar. 31, 2016
Warrants
Stock Warrants Outstanding	1,000,000	1,000,000
Granted Warrants	0	0
Cancelled/Expired Warrants	0	0
Exercised Warrants	0	0
Exercisable Stock Warrants	1,000,000	0
Price Range.
Stock Warrants Outstanding Price Range	$ 0.23	$ 0.23
Exercisable Stock Warrants Price Range	$ 0.23

Subsequent Events (Details)

Subsequent Events (Details)	Oct. 13, 2016USD ($)
Subsequent Events Details
Company issued a note payable to Minera Teles Pires Inc., controlled by company president	$ 30,000
The note bears annual interest and is due and payable	3.00%