Blox (BLXX) 10-Q 31 Jul 20 2020 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Jun. 30, 2020	Jul. 30, 2020
Document and Entity Information [Abstract]
Entity Registrant Name	Blox, Inc.
Entity Central Index Key	0001428389
Amendment Flag	false
Current Fiscal Year End Date	--03-31
Document Type	10-Q
Document Period End Date	Jun. 30, 2020
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2020
Entity Current Reporting Status	Yes
Entity Filer Category	Non-accelerated Filer
Entity Shell Company	false
Entity Interactive Data Current	Yes
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Common Stock, Shares Outstanding		241,541,664
Entity Incorporation State Country Code	NV
Entity File Number	000-53565

Condensed Interim Consolidated

Condensed Interim Consolidated Balance Sheets (Unaudited ) - USD ($)	Jun. 30, 2020	Mar. 31, 2020
Current Assets
Cash (Note 8)	$ 63,066	$ 27,551
Prepaid expenses	2,167	5,167
Total Current Assets	65,233	32,718
Long term investments (Note 4)	111,293	61,091
Equipment (Note 5)	71,560	71,560
Total Assets	248,086	165,369
Current Liabilities
Accounts payable and accrued liabilities	294,464	294,379
Due to shareholder (Note 9)	391,214	391,214
Loan payable	428
Convertible debenture (Note 10)	52,000	120,480
Loan interest payable (Note 10)	3,621	4,706
Total Liabilities	741,727	810,779
STOCKHOLDERS' DEFICIENCY
Common Stock (Note 7) - 400,000,000 authorized - 241,541,664 issued (March 31, 2020 – 144,647,664)	2,527	1,328
Additional Paid-in Capital	7,636,122	7,382,603
Contributed Surplus	27,213,786	27,279,356
Accumulated Other Comprehensive Income	69,033	18,831
Deficit	(35,415,109)	(35,327,528)
Total Stockholders’ Deficiency	(493,641)	(645,410)
Total Liabilities and Stockholders’ Deficiency	$ 248,086	$ 165,369

Condensed Interim Consolidate_2

Condensed Interim Consolidated Balance Sheets (Unaudited ) (Parenthetical) - shares	Jun. 30, 2020	Mar. 31, 2020
Statement of Financial Position [Abstract]
Common stock, shares authorized	400,000,000	400,000,000
Common stock, shares issued	241,541,664	144,647,664

Condensed Interim Consolidate_3

Condensed Interim Consolidated Statements of Comprehensive Loss (Unaudited ) - USD ($)	3 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Operating Expenses
Consulting and professional fees (Note 12)	$ 22,791	$ 34,505
Default penalties (Note 7)	35,000
Exploration (Note 6)		25,105
Foreign exchange	5,078	1,777
Office and administration fees	7,768	5,748
Travel		263
Total Operating Expenses	(70,637)	(67,398)
Other Income (Loss)
Interest expense	(883)
Gain on investment in warrants (Note 4)		44,653
Accretion (Note 10)	(9,261)
Debt issuance cost - cash (Note 10)	(6,800)
Net Loss for the Period	(87,581)	(22,745)
Other Comprehensive Income
Unrealized gain on investment in common shares (Note 4)	50,202	68,276
Comprehensive (Loss) Income for the Period	$ (37,379)	$ 45,531
Net Loss Per Common Share	$ 0	$ 0
Weighted Average Number of Shares Outstanding – Basic and diluted	206,899,601	142,822,664

Consolidated Statements of Chan

Consolidated Statements of Changes in Stockholders’ Equity (Deficiency) - USD ($)	Common Stock	Additional Paid-in Capital	Contributed Surplus	Accumulated Other Comprehensive Income	Deficit	Total
Balance at Mar. 31, 2019	$ 1,309	$ 7,337,352	$ 15,658,030	$ 55,019	$ (22,469,528)	$ 582,182
Balance, shares at Mar. 31, 2019	142,822,664
Unrealized gain (loss) on investment in common shares (Note 4)				68,276		68,276
Net loss for the period					(22,745)	(22,745)
Balance at Jun. 30, 2019	$ 1,309	7,337,352	15,658,030	123,295	(22,492,273)	627,713
Balance, shares at Jun. 30, 2019	142,822,664
Balance at Mar. 31, 2020	$ 1,328	7,382,603	27,279,356	18,831	(35,327,528)	(645,410)
Balance, shares at Mar. 31, 2020	144,647,664
Unrealized gain (loss) on investment in common shares (Note 4)				50,202		50,202
Warrants exercised (Note 7 )	$ 329	50,537	(50,866)
Warrants exercised (Note 7), shares	32,894,589
Convertible debenture - equity portion (Note 10)			25,000			$ 127,273
Convertible debenture - equity portion (Note 10), shares						66,999,411
Convertible debenture converted to shares (Note 10)	$ 670	168,182	(39,704)			$ 129,148
Convertible debenture converted to shares (Note 10), shares	66,999,411
Convertible debenture – default penalty shares (Note 10)	$ 200	34,800				35,000
Convertible debenture – default penalty shares (Note 10), shares	20,000,000
Net loss for the period					(87,581)	(87,581)
Balance at Jun. 30, 2020	$ 2,527	$ 7,636,122	$ 27,213,786	$ 69,033	$ (35,415,109)	$ (493,641)
Balance, shares at Jun. 30, 2020	264,541,664

Condensed Interim Consolidate_4

Condensed Interim Consolidated Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
CASH PROVIDED BY (USED IN): OPERATING ACTIVITIES
Net loss for the period	$ (87,581)	$ (22,745)
Non-cash items:
Gain on investment in warrants		(44,653)
Shares issued for default penalties	35,000
Accretion	9,261
Interest accrued on convertible debenture	790
Discount on convertible debenture	6,800
Changes in non-cash working capital:
Prepaid expenses	3,000	3,000
Accounts payable and accrued liabilities	245	51,602
Due to shareholder		12,000
Cash used in operating activities	(32,485)	(796)
FINANCING ACTIVITIES
Proceeds from convertible debenture	74,800
Convertible debenture transaction costs	(6,800)
Cash provided by financing activities	68,000
Increase (Decrease) in Cash	35,515	(796)
Cash, Beginning of Period	27,551	9,792
Cash, End of Period	$ 63,066	$ 8,996

Description of Business

Description of Business	3 Months Ended
	Jun. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of Business	1. Description of Business Blox, Inc. (the “Company”) was incorporated on July 21, 2005 under the laws of the state of Nevada. The address of the Company is #1177 Avenue of Americas 5th Floor, New York, NY 10036. The Company is primarily engaged in developing mineral exploration projects in Guinea, West Africa.

Basis of Presentation

Basis of Presentation	3 Months Ended
	Jun. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	2. Basis of Presentation (a) Statement of Compliance These condensed interim consolidated financial statements are presented in accordance with generally accepted accounting principles in the United States (“US GAAP”) and the rules and regulations of the Securities and Exchange Commission (“SEC”) and are expressed in U.S. dollars. The Company’s fiscal year-end is March 31. (b) Basis of Presentation The condensed interim consolidated financial statements of the Company comprise the Company and its subsidiaries. These condensed interim consolidated financial statements are prepared on the historical cost basis. These condensed interim consolidated financial statements have also been prepared using the accrual basis of accounting, except for cash flow information. In the opinion of management, all adjustments (including normal recurring ones), considered necessary for the fair statement of results have been included in these financial statements. All intercompany balances and transactions have been eliminated upon consolidation. The interim results are not necessarily indicative of results for the full year ending March 31, 2021, or future operating periods. For further information, see the Company’s annual consolidated financial statements for the year ended March 31, 2020, including the accounting policies and notes thereto. (c) Reporting and Functional Currencies The functional currency of an entity is the currency of the primary economic environment in which the entity operates. The functional currency of the Company is the Canadian dollar (“CAD”). The Company’s reporting currency is the US dollar. Transactions: Monetary assets and liabilities denominated in foreign currencies are translated into functional currencies of the Company and its subsidiaries using period end foreign currency exchange rates and expenses are translated using the exchange rate approximating those in effect on the date of the transactions during the reporting periods in which the expenses were transacted. Non-monetary assets and liabilities are translated at their historical foreign currency exchange rates. Gains and losses resulting from foreign exchange transactions are included in the determination of net income or loss for the period. Translations: Foreign currency financial statements are translated into the Company’s reporting currency, the US dollar as follows: (i) All of the assets and liabilities are translated at the rate of exchange in effect on the balance sheet date; (ii) Expenses are translated at the exchange rate approximating those in effect on the date of the transactions; and (iii) Exchange gains and losses arising from translation are included in other comprehensive income. (d) Significant Accounting Judgments and Estimates (continued) The preparation of these consolidated financial statements requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and reported amounts of expenses during the period. Actual outcomes could differ from these estimates. Revisions to accounting estimates are recognized in the period in which the estimate is revised and may affect both the period of revision and future periods. In applying the Company’s accounting policies, management has made certain judgments that may have a significant effect on the consolidated financial statements. Such judgments include the determination of the functional currencies and use of the going concern assumption. (i) Determination of Functional Currencies In determining the Company’s functional currency, it periodically reviews its primary and secondary indicators to assess the primary economic environment in which the entity operates in determining the Company’s functional currencies. The Company analyzes the currency that mainly influences labor, material and other costs of providing goods or services which is often the currency in which such costs are denominated and settled. The Company also analyzes secondary indicators such as the currency in which funds from financing activities such as equity issuances are generated and the funding dependency of the parent company whose predominant transactional currency is the Canadian dollar. Determining the Company’s predominant economic environment requires significant judgment. (ii) Going Concern These condensed interim consolidated financial statements have been prepared on a going concern basis, which implies the Company will continue to realize its assets and discharge its liabilities in the normal course of business. The Company has incurred a net loss of $87,581 for the three months ended June 30, 2020 and has incurred cumulative losses since inception of $35,415,109 as at June 30, 2020. These factors raise substantial doubt about the ability of the Company to continue as going concern. The continuation of the Company as a going concern is dependent upon the continued financial support from its shareholders, the ability of the Company to obtain necessary debt and/or equity financing to continue operations. These condensed interim consolidated financial statements do not include any adjustments to the recoverability and classification of recorded asset amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern. Management of the Company has undertaken steps as part of a plan to sustain operations for the next fiscal year including plans to raise additional equity financing, control costs and reduce operating losses.

Recent Accounting Pronouncement

Recent Accounting Pronouncements	3 Months Ended
	Jun. 30, 2020
Accounting Policies [Abstract]
Recent Accounting Pronouncements	3. Recent Accounting Pronouncements The Company has implemented all new accounting pronouncements that are in effect. These pronouncements did not have any material impact on the financial statements unless otherwise disclosed, and the Company does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its financial position or results of operations.

Long Term Investments

Long Term Investments	3 Months Ended
	Jun. 30, 2020
Long-term Investments [Abstract]
Long Term Investments	4. Long Term Investments Fair Value as at Number June 30, March 31, Available-for-sale Common shares 3,333,333 $ 85,610 $ 46,993 1,000,000 25,683 14,098 Total investment: $ 111,293 $ 61,091 On March 28, 2018, the Company participated in a private placement offering by its strategic partner, Ashanti Sankofa Inc (TSX.V- ASI), which shares the same management group and board of directors as the Company. The Company purchased 3,333,333 units at CAD$0.03 per unit for a total cost of $77,510 (CAD$100,000). Each unit consists of one common share and one transferable share purchase warrant with each warrant entitling the holder to acquire one additional common share at a price of CAD$0.05 for a period of 24 months from the closing of the private placement. On the date of issuance, the Company determined the fair value of the common share and warrants to be $44,331 and $33,179, respectively. On April 16, 2018, the Company participated in a private placement offering by its strategic partner, Ashanti Sankofa Inc (TSX.V- ASI), which shares the same management group and board of directors as the Company. The Company purchased 1,000,000 units at CAD$0.03 per unit for a total cost of $23,850 (CAD$30,000). Each unit consists of one common share and one transferable share purchase warrant with each warrant entitling the holder to acquire one additional common share at a price of CAD$0.05 for a period of 24 months from the closing of the private placement. On the date of issuance, the Company determined the fair value of the common share and warrants to be $13,420 and $10,430, respectively. As at June 30, 2020, the fair value of common shares was $111,293 which resulted in an unrealized gain of $50,202 that was recorded in other comprehensive income. The share purchase warrants of ASI expired during the year ended March 31, 2020.

Equipment

Equipment	3 Months Ended
	Jun. 30, 2020
Property, Plant and Equipment [Abstract]
Equipment	5. Equipment Machinery Total Cost Balance at June 30 & March 31, 2020 $ 232,620 $ 232,620 Accumulated Depreciation Balance at June 30 & March 31, 2020 $ 161,060 $ 161,060 Carrying amounts As at June 30 & March 31, 2020 $ 71,560 $ 71,560 Machinery in the amount of $71,560 has not been placed into production and is not currently being depreciated.

Mineral Property Interest

Mineral Property Interest	3 Months Ended
	Jun. 30, 2020
Mineral Property Interest [Abstract]
Mineral Property Interest	6. Mineral Property Interest The Company entered into a Deed of Assignment and Assumption Agreement dated July 24, 2014 (the “Assumption Agreement”) among Joseph Boampong Memorial Institute Ltd. (“JBMIL”) and Equus Mining Ltd. (“EML”), Burey Gold Guinee sarl (“BGGs”) and Burey Gold Limited (“BGL”) and, collectively with EML and BGGs, (the “Vendors”), pursuant to which the Company agreed to assume JBMIL’s right to acquire a 78% beneficial interest in the Mansounia Concession (the “Property”) from the Vendors. The Company exercised that right and acquired a 78% beneficial interest in the Property. The Property lies in the southwest margin of the Siguiri Basin, in the Kouroussa Prefecture, Kankan Region, in Guinea, West Africa and covers a surface area of 145 square kilometres. The Property is located approximately 80 kilometres west, by road, from the country’s third largest city, Kankan. An exploration permit for the Property was granted by the Ministère des Mines et de la Géologie on August 20, 2013. As part of its due diligence, the Company obtained a legal opinion which confirmed that the license was in good standing at the time of acquisition. It is the Company’s intention to obtain an exploitation permit to allow the Company the right to mine and dispose of minerals for 15 years, with a possible 5-year extension. The Company has commenced work on the feasibility study required for obtaining this permit. In consideration for the acquisition of the interest in the Property, the Company paid in cash $100,000 to BGL and $40,000 to EML and issued BGL and EML an aggregate of 6,514,350 shares of common stock of the Company (the “First Tranche Shares”), at a deemed price of $0.1765 per share, for an aggregate deemed value of $1,150,000. The First Tranche Shares were issued to BGL and EML in the proportions of 71.43% and 28.57%, respectively. For accounting purposes, the Company recorded the cash payment of $140,000, and $10,000 for an independent valuation of the Property. Additionally, $781,722 was capitalized to mineral property interests, being the fair value of the first tranche of shares. The fair value of the first tranche shares was based on the closing price of the Company’s shares on the OTCQB on July 24, 2014. Within 14 days of commercial gold production being publicly declared from ore mined from the Property, the Company will issue BGL and EML a second tranche of shares of common stock of the Company (the “Second Tranche Shares”). The number of Second Tranche Shares to be issued shall be calculated by dividing $1,150,000 by the volume weighted average share price of the Company’s common stock over a 20-day period preceding the issuance date. The Second Tranche Shares shall be issued to BGL and EML in the proportions of 71.43% and 28.57%, respectively. The exploration license, which was originally granted on August 20, 2013, was extended by the Company until January 30, 2020, pending the results of its application for a mining license for the property (first submitted December 7, 2018). On February 17, 2020, the Company received notice from Minister of Mines and Geology, Republic of Guinea, revoking the Company’s exploration license for the Mansounia Gold Project. As a result of the revocation of the Company’s exploration license, all rights held by the Company and its partners in the Mansounia Gold Project have been terminated. The Company has since confirmed that its mining license application cannot proceed without a valid exploration license, and that it is ineligible to re-apply for an exploration license due to the expiration of its previous license. At March 31, 2020, management decided to write off the mineral property interest. Mansounia Acquisition of mineral property interest Cash payment $ 150,000 Issuance of 6,514,350 common shares 781,722 Write-off mineral property interest (931,722 ) Balance, March 31 & June 30, 2020 $ - During the three months ended June 30, 2020, the Company spent $Nil (2019 – $25,105) on the property.

Common Stock

Common Stock	3 Months Ended
	Jun. 30, 2020
Equity [Abstract]
Common Stock	7. Common Stock (a) Private Placement Year ended March 31, 2020 There were no shares issued from private placement for the year ended March 31, 2020. Three months ended June 30, 2020 There were no shares issued from private placement for the three months ended June 30, 2020. (b) Convertible debenture shares issuance Year ended March 31, 2020 On August 16, 2019, the Company issued 300,000 commitment shares to two convertible debenture holders. The fair value of the common shares was $60,000 (Note 10). In March 2020, $22,300 principal of convertible debenture was converted to 1,475,000 common shares of the Company at price range of $0.03 to $0.17 (Note 10). Three Months ended June 30, 2020 From April 1 to June 30, 2020, $127,273 principal of convertible debenture was converted to 66,999,411 common shares of the Company at a price range of $0.01 to $0.02 (Note 10). On May 28, 2020, the Company received a notice from one convertible debenture holder that $17,500 of default penalty will be converted into 10,000,000 shares. On June 1, 2020, the 10,000,000 common shares were issued to settle the default penalty of $17,500. The penalty incurred due to the loss of Mansounia property. On June 8, 2020, the Company received a notice from one convertible debenture holder that $17,500 of default penalty will be converted into 10,000,000 shares. On June 8, 2020, the 10,000,000 common shares were issued to settle the default penalty of $17,500. (c) Warrants Year ended March 31, 2020 On August 7, 2019, 50,000 warrants were exercised for common shares at $0.05 per share. On August 16, 2019, the Company issued 1,111,110 warrants to two convertible debenture holders with a fair value of $220,541 (Note 10). On the issuance date of the warrants, the share price was $0.20. The warrants expire five years from the date of issuance and are exercisable at $0.135 per share. The fair value of these warrants was determined with the Black-Scholes option pricing model using the following assumptions: risk free interest rate of 1.57%, volatility of 231.6%, annual rate of dividend of 0%, and expected life of 5 years. On February 27, 2020, the Company extended the term of 88,000,000 share purchase warrants from February 27, 2020 to February 27, 2021, no other terms were changed. Three months ended June 30, 2020 On May 7, 2020, the Company entered into an Amendment #1 with one convertible debenture holder that the 555,555 warrant shares issued on August 16, 2019 are subject to anti-dilution protection. The Company agreed that the number of warrant shares should be equal to 10,000,000. On May 13, 2020, the convertible debt holder exercised 10,000,000 warrants to common shares via cashless exercise. On May 28 and June 8, 2020, the Company received an Exercise Notice from another convertible debenture holder that 10,844,805 and 12,049,784 warrant shares were exercised to common shares via cashless exercise. The 1,111,110 warrants were cancelled as at June 30, 2020 due to the warrant shares that were issued. The following table summarizes historical information about the Company's warrants: Number of Weighted Weighted Balance, March 31, 2020 118,604,860 0.05 1.41 Warrants issued 32,894,589 0.001 - Warrants exercised (32,894,589 ) 0.001 - Warrants cancelled (1,111,110 ) Balance, June 30, 2020 117,493,750 0.05 1.38 As at June 30, 2020, the following warrants were outstanding and exercisable: Number of Warrants Exercise Price Expiry Date 87,543,750 $ 0.05 February 27, 2021 29,950,000 $ 0.05 April 24, 2023 117,493,750 (d) Stock Options Year ended March 31, 2020 650,000 options expired on August 7, 2019. Three months ended June 30, 2020 1,500,000 options were cancelled on May 27, 2020 due to the optionee no longer being an officer of the Company. There were no stock options granted for the three months ended June 30, 2020. The following table summarizes historical information about the Company's incentive stock options: Number of Weighted Weighted Balance, March 31, 2020 1,500,000 0.27 2.90 Cancelled (1,500,000 ) 0.27 Balance, June 30, 2020 - - - At June 30, 2020, there were no stock options outstanding.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	3 Months Ended
	Jun. 30, 2020
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	8. Fair Value of Financial Instruments The following provides an analysis of financial instruments that are measured subsequent to initial recognition at fair value, grouped into Levels 1 to 3 and based on the degree to which fair value is observable: Level 1 – fair value measurements are those derived from quoted prices (unadjusted) in active markets for identical assets or liabilities; Level 2 – fair value measurements are those derived from inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly (i.e. as prices) or indirectly (i.e. derived from prices); and Level 3 – fair value measurements are those derived from valuation techniques that include inputs for the asset or liability that are not based on observable market data (unobservable inputs). Level 2 and 3 financial instruments are measured using management's best estimate of fair value, where the inputs into the determination of fair value require significant management judgment to estimation. Valuations based on unobservable inputs are highly subjective and require significant judgments. Changes in such judgments could have a material impact on fair value estimates. In addition, since estimates are as of a specific point in time, they are susceptible to material near-term changes. Changes in economic conditions may also dramatically affect the estimated fair values. The following table sets forth the Company's financial assets measured at fair value by level within the fair value hierarchy: Level 1 Level 2 Level 3 Total Cash $ 63,066 $ - $ - $ 63,066 Long-term investment – Shares 111,293 - - 111,293 Total $ 174,359 $ - $ - $ 174,359 Level 1 Level 2 Level 3 Total Cash $ 27,551 $ - $ - $ 27,551 Long-term investment – Shares 61,091 - - 61,091 Total $ 88,642 $ - $ - $ 88,642

Due to Shareholder

Due to Shareholder	3 Months Ended
	Jun. 30, 2020
Related Party Transactions [Abstract]
Due to Shareholder	9. Due to Shareholder During the period ended June 30, 2020, the Company received advances from Waratah Capital Ltd. (“Waratah”), a controlling shareholder of the Company, in the amount of $Nil (year ended March 31, 2020 - $61,868). As at June 30, 2020, the Company was indebted to Waratah for $391,214 (March 31, 2020 - $391,214). The advances from shareholder are unsecured, non-interest bearing and have no fixed repayment terms.

Convertible Debenture

Convertible Debenture	3 Months Ended
	Jun. 30, 2020
Convertible Debenture [Abstract]
Convertible Debenture	10. Convertible Debenture Year ended March 31, 2020 On August 16, 2019, the Company entered into security purchase agreements with two private investors, issuing two convertible promissory notes in an aggregate principal amount of $150,000, with a $15,000 original issue discount and $10,000 in legal fees, paid in cash to the investors and the legal counsel. Each note accrues interest at an annual rate of 5% and is to be repaid nine months after the dates of actual funding received. The investors have rights to convert a portion, or all, of the principal amount plus interest of each note at a lowest conversion price of i) $0.09 (fixed conversion price); or ii) 50% multiplied by the lowest closing bid price of the Common Stock during the 25 consecutive trading day period immediately preceding the date of the respective conversion (alternative conversion price) into common shares of the Company after 180 days and prior to May 16, 2020. In addition, the Company issued 300,000 commitment shares to the two investors with a fair value of $60,000 and 1,111,110 warrants with a fair value of $220,541. The two warrant holders are entitled to purchase up to 1,111,110 common shares of the Company at an exercise price of $0.135 with a 5-year expiry date (Note 7 (b) & (c)) Based on a discount factor of 66%, the debt portion of the promissory note was valued at $102,567 and the conversion feature portion of the notes was valued at $202,208. The conversion feature was valued using the Black Scholes model with the following assumptions: risk free interest rate of 1.61%, volatility of 100.01%, dividend rate of 0% and expected life of 9 months. The net proceeds received by the Company were allocated to the convertible debt and associated financial instruments based on their relative fair values as below: Proceeds Debt $ 23,656 Conversion feature 46,638 Warrants 50,867 Shares 13,839 Total proceeds $ 135,000 For the year ended March 31, 2020, $22,300 of debt principal was converted to 1,475,000 common shares of the Company at price range of $0.03 to $0.17 (Note 7 (b)). Three months ended June 30, 2020 On June 8, 2020, the Company entered into security purchase agreements with a private investor, issuing one convertible promissory note in an aggregate principal amount of $74,800, with a $6,800 original issue discount, $500 in due diligence fees and $2,500 in legal fees, paid in cash to the investors and the legal counsel. Each note accrues interest at an annual rate of 8% and is to be repaid on June 8, 2021. The investors have rights to convert a portion, or all, of the principal amount plus interest at variable conversion price to Common Stock of the Company after 180 days and prior to June 8, 2021. For the period ended June 30, 2020, $127,273 debt principal was converted to 66,999,411 common shares of the Company at price range of $0.01 to $0.02 (Note 7 (b)). Accretion for the note was calculated as $9,261 (2019 - $Nil) and interest expense of $790 was recorded. As of June 30, 2020, $149,572 debt principal were converted to commons shares. June 30, March 31, Convertible debenture – beginning of the period $ 120,480 $ - Debt proceeds received 74,800 23,656 Debt converted to common shares (127,541 ) (20,753 ) Equity portion of convertible debenture (25,000 ) - Finance cost - accretion 9,261 117,577 Carrying value – end of the period $ 52,000 $ 120,480

Commitments

Commitments	3 Months Ended
	Jun. 30, 2020
Commitments and Contingencies Disclosure [Abstract]
Commitments	11. Commitments On June 22, 2013, the Company entered into a share purchase agreement with Waratah Capital Ltd. ("Waratah") where the Company agreed to purchase all of Waratah's right, title, and interest in the Quivira Gold ("Quivira") shares, of which Waratah holds 100% of the outstanding shares. As consideration for the Quivira shares, the Company will issue to Waratah 60,000,000 shares of common stock and 60,000,000 warrants. Each warrant entitles the holder to purchase one additional common share at $0.05 for a period of five years from the closing date. Quivira, a subsidiary of Waratah Investments, owns and operates gold and diamond mining properties in Ghana. The closing of the agreement is subject to the completion of due diligence and the completion of a private placement for $1,500,000. The private placement closed during the year ended March 31, 2019. As of the issuance date of these financial statements, the due diligence has not yet been completed.

Related Party Transactions

Related Party Transactions	3 Months Ended
	Jun. 30, 2020
Related Party Transactions [Abstract]
Related Party Transactions	12. Related Party Transactions The Company's related parties include its subsidiaries, key management personnel, controlling shareholders, and strategic partner. Transactions with related parties for goods and services are based on the exchange amount as agreed to by the related parties. The Company incurred the following expenses with related parties during the three months ended June 30, 2020 and 2019: Three Months Ended 2020 2019 Compensation – CEO $ 12,780 $ 13,500 Compensation – Former Officer - 6,750 $ 12,780 $ 20,250 As at June 30, 2020, the Company was indebted to its related parties for the amounts as below: June 30, March 31, Accounts payable and accrued liabilities $ 134,793 $ 122,651 Due to shareholder (Note 9) 391,214 391,214 These amounts owing are unsecured, non-interest bearing and have no fixed repayment terms.

Geographical Area Information

Geographical Area Information	3 Months Ended
	Jun. 30, 2020
Segments, Geographical Areas [Abstract]
Geographical Area Information	13. Geographical Area Information Canada Africa Total June 30, 2020: Current assets $ 62,871 $ 2,362 $ 65,233 Long term investments 111,293 - 111,293 Equipment - 71,560 71,560 Total assets $ 174,164 $ 73,922 $ 248,086 Total liabilities $ 642,930 $ 98,797 $ 741,727 March 31, 2020: Current assets $ 30,575 $ 2,143 $ 32,718 Long term investments 61,091 - 61,091 Equipment - 71,560 71,560 Total assets $ 91,666 $ 73,703 $ 165,369 Total liabilities $ 718,237 $ 92,545 $ 810,779

Long Term Investments (Tables)

Long Term Investments (Tables)	3 Months Ended
	Jun. 30, 2020
Long-term Investments [Abstract]
Schedule of long term investments	Fair Value as at Number June 30, March 31, Available-for-sale Common shares 3,333,333 $ 85,610 $ 46,993 1,000,000 25,683 14,098 Total investment: $ 111,293 $ 61,091

Equipment (Tables)

Equipment (Tables)	3 Months Ended
	Jun. 30, 2020
Property, Plant and Equipment [Abstract]
Schedule of equipment	Machinery Total Cost Balance at June 30 & March 31, 2020 $ 232,620 $ 232,620 Accumulated Depreciation Balance at June 30 & March 31, 2020 $ 161,060 $ 161,060 Carrying amounts As at June 30 & March 31, 2020 $ 71,560 $ 71,560

Mineral Property Interest (Tabl

Mineral Property Interest (Tables)	3 Months Ended
	Jun. 30, 2020
Mineral Property Interest [Abstract]
Schedule of acquisition mineral property interest	Mansounia Acquisition of mineral property interest Cash payment $ 150,000 Issuance of 6,514,350 common shares 781,722 Write-off mineral property interest (931,722 ) Balance, March 31 & June 30, 2020 $ -

Common Stock (Tables)

Common Stock (Tables)	3 Months Ended
	Jun. 30, 2020
Equity [Abstract]
Schedule of historical information about the Company's warrants	Number of Weighted Weighted Balance, March 31, 2020 118,604,860 0.05 1.41 Warrants issued 32,894,589 0.001 - Warrants exercised (32,894,589 ) 0.001 - Warrants cancelled (1,111,110 ) Balance, June 30, 2020 117,493,750 0.05 1.38
Schedule of warrants were outstanding and exercisable	Number of Warrants Exercise Price Expiry Date 87,543,750 $ 0.05 February 27, 2021 29,950,000 $ 0.05 April 24, 2023 117,493,750
Schedule of incentive stock options	Number of Weighted Weighted Balance, March 31, 2020 1,500,000 0.27 2.90 Cancelled (1,500,000 ) 0.27 Balance, June 30, 2020 - - -

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	3 Months Ended
	Jun. 30, 2020
Fair Value Disclosures [Abstract]
Schedule of fair value of assets	Level 1 Level 2 Level 3 Total Cash $ 63,066 $ - $ - $ 63,066 Long-term investment – Shares 111,293 - - 111,293 Total $ 174,359 $ - $ - $ 174,359 Level 1 Level 2 Level 3 Total Cash $ 27,551 $ - $ - $ 27,551 Long-term investment – Shares 61,091 - - 61,091 Total $ 88,642 $ - $ - $ 88,642

Convertible Debenture (Tables)

Convertible Debenture (Tables)	3 Months Ended
	Jun. 30, 2020
Fair value of common stock
Schedule of convertible debt and associated financial instruments based on their relative fair values	Proceeds Debt $ 23,656 Conversion feature 46,638 Warrants 50,867 Shares 13,839 Total proceeds $ 135,000
Schedule of carrying value of the convertible notes	June 30, March 31, Convertible debenture – beginning of the period $ 120,480 $ - Debt proceeds received 74,800 23,656 Debt converted to common shares (127,541 ) (20,753 ) Equity portion of convertible debenture (25,000 ) - Finance cost - accretion 9,261 117,577 Carrying value – end of the period $ 52,000 $ 120,480

Related Party Transactions (Tab

Related Party Transactions (Tables)	3 Months Ended
	Jun. 30, 2020
Related Party Transactions [Abstract]
Schedule of expenses with related parties	Three Months Ended 2020 2019 Compensation – CEO $ 12,780 $ 13,500 Compensation – Former Officer - 6,750 $ 12,780 $ 20,250
Schedule of the Company was indebted to its related parties	June 30, March 31, Accounts payable and accrued liabilities $ 134,793 $ 122,651 Due to shareholder (Note 9) 391,214 391,214

Geographical Area Information (

Geographical Area Information (Tables)	3 Months Ended
	Jun. 30, 2020
Segments, Geographical Areas [Abstract]
Schedule of assets and liabilities by geographical area	Canada Africa Total June 30, 2020: Current assets $ 62,871 $ 2,362 $ 65,233 Long term investments 111,293 - 111,293 Equipment - 71,560 71,560 Total assets $ 174,164 $ 73,922 $ 248,086 Total liabilities $ 642,930 $ 98,797 $ 741,727 March 31, 2020: Current assets $ 30,575 $ 2,143 $ 32,718 Long term investments 61,091 - 61,091 Equipment - 71,560 71,560 Total assets $ 91,666 $ 73,703 $ 165,369 Total liabilities $ 718,237 $ 92,545 $ 810,779

Basis of Presentation (Details)

Basis of Presentation (Details) - USD ($)	3 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Mar. 31, 2020
Basis of Presentation (Textual)
Net loss	$ (87,581)	$ (22,745)
Cumulative losses	$ (35,415,109)		$ (35,327,528)

Long Term Investments (Details)

Long Term Investments (Details) - USD ($)	3 Months Ended	12 Months Ended
	Jun. 30, 2020	Mar. 31, 2020
Available-for-sale
Total investment	$ 111,293	$ 61,091
Common Shares [Member]
Available-for-sale
Number	3,333,333
Fair Value	$ 85,610	46,993
Common Shares One [Member]
Available-for-sale
Number	1,000,000
Fair Value	$ 25,683	$ 14,098

Long Term Investments (Details

Long Term Investments (Details Textual)	Apr. 16, 2018USD ($)shares	Apr. 16, 2018CAD ($)$ / sharesshares	Mar. 28, 2018USD ($)shares	Mar. 28, 2018CAD ($)$ / sharesshares	Aug. 16, 2019shares	Jun. 30, 2020USD ($)	Jun. 30, 2019USD ($)
Long Term Investments (Textual)
Fair value of common stock						$ 111,293
Unrealized loss on warrant						50,202
Unrealized loss on common stock						50,202	$ 68,276
Net loss							$ 44,653
Warrant [Member]
Long Term Investments (Textual)
Issuance of common stock | shares	1,000,000	1,000,000	3,333,333	3,333,333	1,111,110
Ashanti Sankofa Inc [Member] | Canada [Member] | Common Stock [Member]
Long Term Investments (Textual)
Share price (in dollars per share) | $ / shares		$ 0.05		$ 0.05
Ashanti Sankofa Inc [Member] | Private Placement [Member]
Long Term Investments (Textual)
Issuance of common stock | shares	1,000,000	1,000,000	3,333,333	3,333,333
Proceeds from issuance of private placement	$ 23,850		$ 77,510
Fair value of common stock	13,420		44,331
Fair value of warrants	$ 10,430		$ 33,179
Ashanti Sankofa Inc [Member] | Private Placement [Member] | Canada [Member]
Long Term Investments (Textual)
Share price (in dollars per share) | $ / shares		$ 0.03		$ 0.03
Proceeds from issuance of private placement		$ 30,000		$ 100,000

Equipment (Details)

Equipment (Details) - USD ($)	Jun. 30, 2020	Mar. 31, 2020
Cost	$ 232,620	$ 232,620
Accumulated Depreciation	161,060	161,060
Carrying amounts	71,560	71,560
Machinery [Member]
Cost	232,620	232,620
Accumulated Depreciation	161,060	161,060
Carrying amounts	$ 71,560	$ 71,560

Equipment (Details Textual)

Equipment (Details Textual)	3 Months Ended
	Jun. 30, 2020
Equipment (Textual)
Equipment, description	Machinery in the amount of $71,560 has not been placed into production and is not currently being depreciated.

Mineral Property Interest (Deta

Mineral Property Interest (Details) - USD ($)	3 Months Ended	12 Months Ended
	Jun. 30, 2020	Mar. 31, 2020
Acquisition of mineral property interest
Cash payment	$ 150,000	$ 150,000
Issuance of 6,514,350 common shares	781,722	781,722
Write-off mineral property interest	(931,722)	(931,722)
Total

Mineral Property Interest (De_2

Mineral Property Interest (Details Textual) - USD ($)	1 Months Ended	3 Months Ended
	Jul. 24, 2014	Jun. 30, 2020	Jun. 30, 2019
Mineral Property Interest (Textual)
Cash paid		$ 150,000	$ 25,105
Mineral property expenses		$ 47,574
Exercised and acquired beneficial interest, description		The Company exercised that right and acquired a 78% beneficial interest in the Property.
Exploitation permit, description		Company the right to mine and dispose of minerals for 15 years, with a possible 5-year extension. The Company has commenced work on the feasibility study required for obtaining this permit.
Acquisition [Member]
Mineral Property Interest (Textual)
Cash paid	$ 140,000
Independent valuation of property	$ 10,000
Beneficial interest, percentage	78.00%
BGL [Member]
Mineral Property Interest (Textual)
Cash paid	$ 100,000
Shares Issued, percentage	71.43%	71.43%
EML [Member]
Mineral Property Interest (Textual)
Cash paid	$ 40,000
Shares Issued, percentage	28.57%	28.57%
BGL and EML [Member]
Mineral Property Interest (Textual)
Shares Issued	6,514,350
Mineral property interest	$ 781,722
Deemed price per share	$ 0.1765
Deemed value	$ 1,150,000
Weighted average, property amount	$ 1,150,000

Common Stock (Details)

Common Stock (Details)	3 Months Ended
	Jun. 30, 2020$ / sharesshares
Number of Warrants
Beginning balance	118,604,860
Warrants issued	32,894,589
Warrants exercised	(32,894,589)
Warrants cancelled	(1,111,110)
Ending balance	117,493,750
Weighted Average Exercise Price
Beginning balance | $ / shares	$ 0.05
Warrants issued | $ / shares	0.001
Warrants exercised | $ / shares	0.001
Ending balance | $ / shares	$ 0.05
Weighted Average Life Remaining (Years)
Beginning balance	1 year 4 months 28 days
Ending balance	1 year 4 months 17 days

Common Stock (Details 1)

Common Stock (Details 1) - $ / shares	3 Months Ended
	Jun. 30, 2020	Mar. 31, 2020
Number of Warrants	117,493,750	118,604,860
February 27, 2021 [Member]
Number of Warrants	87,543,750
Exercise Price	$ 0.05
Expiry Date	Feb. 27, 2021
April 24, 2023 [Member]
Number of Warrants	29,950,000
Exercise Price	$ 0.05
Expiry Date	Apr. 24, 2023

Common Stock (Details 2)

Common Stock (Details 2) - Stock Option [Member]	3 Months Ended
	Jun. 30, 2020$ / sharesshares
Number of options
Outstanding at beginning | shares	1,500,000
Cancelled | shares	(1,500,000)
Outstanding at ending | shares
Weighted Average Exercise Price
Outstanding at beginning | $ / shares	$ 0.27
Cancelled | $ / shares	0.27
Outstanding at ending | $ / shares
Weighted Average Life Remaining (Years)
Outstanding at beginning	2 years 10 months 25 days

Common Stock (Details Textual)

Common Stock (Details Textual) - USD ($)

Jun. 08, 2020

Jun. 01, 2020

May 07, 2020

Aug. 07, 2019

Apr. 16, 2018

Mar. 28, 2018

May 28, 2020

May 27, 2020

Feb. 27, 2020

Aug. 16, 2019

Jun. 30, 2020

Mar. 31, 2020

Common Stock (Textual)

Gross proceeds

Convertible debenture converted to common shares

66,999,411

1,475,000

Principal of convertible debenture

$ 127,273

$ 22,300

Convertible debenture lower price range

$ 0.01

$ 0.03

Convertible debenture upper price range

$ 0.02

$ 0.17

Warrants cancelled

(1,111,110)

Stock Option [Member]

Common Stock (Textual)

Stock options expire date

Aug. 7, 2019

Option Exercised

650,000

Stock options cancelled

1,500,000

Warrant [Member]

Common Stock (Textual)

Warrants exercised to common shares

12,049,784

10,844,805

Exercise price

$ 0.05

Issuance of common shares

1,000,000

3,333,333

1,111,110

Fair value of the common shares

$ 220,541

Warrant exercised for common shares

50,000

Term of warrants, description

The Company extended the term of 88,000,000 share purchase warrants from February 27, 2020 to February 27, 2021, no other terms were changed.

Description of Convertible notes

The Company entered into an Amendment #1 with one convertible debenture holder that the 555,555 warrant shares issued on August 16, 2019 are subject to anti-dilution protection. The Company agreed that the number of warrant shares should be equal to 10,000,000. On May 13, 2020, the convertible debt holder exercised 10,000,000 warrants to common shares via cashless exercise.

Warrants cancelled

1,111,110

Two convertible debenture holders [Member]

Common Stock (Textual)

Issuance of common shares

300,000

Fair value of the common shares

$ 60,000

Convertible debenture converted to common shares

1,475,000

Principal of convertible debenture

$ 22,300

Convertible debenture lower price range

$ 0.03

Convertible debenture upper price range

$ 0.17

Two convertible debenture holders [Member] | Warrant [Member]

Common Stock (Textual)

Share price

$ 0.20

Warrants Exercise Price

$ 0.135

Risk free interest rate

1.57%

Volatility

231.60%

Annual rate of dividend

0.00%

Expected life (in years)

5 years

Issuance of common shares

1,111,110

Fair value of the common shares

$ 220,541

Convertible debenture [Member]

Common Stock (Textual)

Convertible debenture converted to common shares

66,999,411

Principal of convertible debenture

$ 127,273

Convertible debenture lower price range

$ 0.01

Convertible debenture upper price range

$ 0.02

One convertible debenture holder [Member]

Common Stock (Textual)

Convertible debenture converted to common shares

10,000,000

10,000,000

10,000,000

Default penalty amount

$ 17,500

$ 17,500

$ 17,500

Description of Convertible notes

The 10,000,000 common shares were issued to settle the default penalty of $17,500.

Fair Value of Financial Instr_3

Fair Value of Financial Instruments (Details) - USD ($)	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2019	Mar. 31, 2019
Cash	$ 63,066	$ 27,551	$ 8,996	$ 9,792
Long-term investment - Shares	111,293	61,091
Total	174,359	88,642
Level 1 [Member]
Cash	63,066	27,551
Long-term investment - Shares	111,293	61,091
Total	174,359	88,642
Level 2 [Member]
Cash
Long-term investment - Shares
Total
Level 3 [Member]
Cash
Long-term investment - Shares
Total

Due to Shareholder (Details)

Due to Shareholder (Details) - USD ($)	12 Months Ended
	Mar. 31, 2020	Jun. 30, 2020
Due to Shareholder (Textual)
Due to shareholder	$ 391,214	$ 391,214
Waratah Capital [Member]
Due to Shareholder (Textual)
Advance from related party	61,868
Due to shareholder	$ 391,214	$ 391,214

Convertible Debenture (Details)

Convertible Debenture (Details)	3 Months Ended
	Jun. 30, 2020USD ($)
Convertible Debenture [Abstract]
Debt	$ 23,656
Conversion feature	46,638
Warrants	50,867
Shares	13,839
Total proceeds	$ 135,000

Convertible Debenture (Details

Convertible Debenture (Details 1) - USD ($)	3 Months Ended	12 Months Ended
	Jun. 30, 2020	Mar. 31, 2020
Convertible Debenture [Abstract]
Convertible debenture – beginning of the period	$ 120,480
Debt proceeds received	$ 74,800	$ 23,656
Debt converted to common shares	(127,541)	(20,753)
Equity portion of convertible debenture	$ (25,000)
Finance cost - accretion	9,261	117,577
Carrying value – end of the period	$ 52,000	$ 120,480

Convertible Debenture (Detail_2

Convertible Debenture (Details Textual) - USD ($)	Jun. 08, 2020	Apr. 16, 2018	Mar. 28, 2018	Aug. 16, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2018	Mar. 31, 2020
Debt instrument term					1 year 4 months 17 days			1 year 4 months 28 days
Accretion for the notes					$ 9,261			$ 117,577
Interest expense					790			4,706
Principal of convertible debenture					$ 127,273			$ 22,300
Convertible debenture converted to common shares					66,999,411			1,475,000
Convertible debenture lower price range					$ 0.01			$ 0.03
Convertible debenture upper price range					$ 0.02			$ 0.17
Converted commons shares principal debt					$ 149,572
Two investors [Member]
Issuance of common shares				300,000
Fair value of the common shares				$ 60,000
Warrants [Member]
Issuance of common shares		1,000,000	3,333,333	1,111,110
Fair value of the common shares				$ 220,541
Two warrant [Member]
Purchase of warrants				1,111,110
Exercise price				$ 0.135
Debt instrument term				5 years
Convertible Promissory Notes [Member]
Aggregate principal amount	$ 74,800			$ 150,000
Original issue discount	6,800			15,000
Due diligence fees	500
Legal fees	$ 2,500			$ 10,000
Accrues interest rate	8.00%			5.00%
Conversion price, description				i) $0.09 (fixed conversion price); or ii) 50% multiplied by the lowest closing bid price of the Common Stock during the 25 consecutive trading day period immediately preceding the date of the respective conversion (alternative conversion price) into common shares of the Company after 180 days and prior to May 16, 2020.
Discount factor rate				66.00%
Risk free interest rate				1.61%
Volatility				100.01%
Annual rate of dividend				0.00%
Expected life (in years)				9 months
Conversion feature, value				$ 202,208
Promissory debt, value				$ 102,567

Commitments (Details)

Commitments (Details) - USD ($)	1 Months Ended	3 Months Ended	12 Months Ended
	Jun. 22, 2013	Jun. 30, 2020	Mar. 31, 2019
Warrants issued		32,894,589
Share Purchase Agreement [Member] | Waratah [Member]
Share price	$ 0.05
Percentage of shares outstanding held by related party	100.00%
Share Purchase Agreement [Member] | Waratah Capital [Member]
Issuance of common stock	60,000,000
Warrants issued	60,000,000
Warrant term	5 years
Share Purchase Agreement [Member] | Waratah Capital [Member] | Private Placement [Member]
Proceeds from private placement			$ 1,500,000

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($)	3 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Compensation	$ 12,780	$ 20,250
CEO [Member]
Compensation	12,780	13,500
Former Officer [Member]
Compensation		$ 6,750

Related Party Transactions (D_2

Related Party Transactions (Details 1) - USD ($)	Jun. 30, 2020	Mar. 31, 2020
Related Party Transactions [Abstract]
Accounts payable and accrued liabilities	$ 134,793	$ 122,651
Due to shareholder (Note 9)	$ 391,214	$ 391,214

Geographical Area Information_2

Geographical Area Information (Details) - USD ($)	Jun. 30, 2020	Mar. 31, 2020
Current assets	$ 65,233	$ 32,718
Long term investments	111,293	61,091
Equipment	71,560	71,560
Total assets	248,086	165,369
Total liabilities	741,727	810,779
Canada [Member]
Current assets	62,871	30,575
Long term investments	111,293	61,091
Equipment
Total assets	174,164	91,666
Total liabilities	642,930	718,234
Africa [Member]
Current assets	2,362	2,143
Long term investments
Equipment	71,560	71,560
Total assets	73,922	73,703
Total liabilities	$ 98,797	$ 92,545