Centaurus Diamond (CTDT) 10-Q 21 Feb 19 2019 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Dec. 31, 2018	Feb. 21, 2019
Document And Entity Information
Entity Registrant Name	CENTAURUS DIAMOND TECHNOLOGIES, INC.
Entity Central Index Key	1,435,163
Document Type	10-Q
Document Period End Date	Dec. 31, 2018
Amendment Flag	false
Current Fiscal Year End Date	--03-31
Is Entity's Reporting Status Current?	No
Entity Filer Category	Non-accelerated Filer
Entity Emerging Growth Company	false
Entity Small Business	true
Entity Common Stock, Shares Outstanding		211,267,623
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2,019

Balance Sheets

Balance Sheets - USD ($)	Dec. 31, 2018	Mar. 31, 2018
CURRENT ASSETS:
Cash	$ 0	$ 16,927
Total Current Assets	0	16,927
PROPERTY AND EQUIPMENT, NET:
Property and equipment	69,540	63,000
Accumulated depreciation	(8,000)	(8,000)
Total Property and Equipment, net	61,540	55,000
OTHER ASSETS
Autogenous Impact Mill Technology	1	1
Patent	1	1
Deposits	19,340	19,340
Total Other Assets	19,342	19,342
Total Assets	80,882	91,269
CURRENT LIABILITIES:
Accounts payable and accrued expenses	60,860	27,190
Note payable - Bauta	12,000	12,000
Default judgement liability	114,408	114,408
Advances from stockholders	294,612	117,912
Current portion of capital lease	12,000	12,000
Total Current Liabilities	493,880	283,510
LONG-TERM DEBT, NET:
Capital leases payable	21,000	30,000
Total Long Term Liabilities	21,000	30,000
Total Liabilities	514,880	313,510
STOCKHOLDERS'DEFICIT:
Common stock par value $0.001: 450,000,000 shares authorized; 211,267,623 shares issued and outstanding at September 30, 2018 and March 31, 2018	211,417	211,417
Additional paid-in capital	2,751,701	2,751,701
Stock subscriptions accrual	70,000	50,000
Accumulated deficit	(3,467,116)	(3,235,359)
Total Stockholders' Deficit	(433,998)	(222,241)
Total Liabilities and Stockholders' Deficit	$ 80,882	$ 91,269

Balance Sheets (Parenthetical)

Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2018	Mar. 31, 2018
Statement of Financial Position [Abstract]
Common Stock, par value	$ 0.001	$ 0.001
Common Stock, shares authorized	450,000,000	450,000,000
Common Stock, shares issued	211,267,623	211,267,623
Common Stock, shares outstanding	211,267,623	211,267,623

Statements of Operations (Unaud

Statements of Operations (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2018	Dec. 31, 2017
Income Statement [Abstract]
Revenue	$ 0	$ 0	$ 0	$ 0
Operating Expenses
Rent - related party	12,905	32,369	30,000	63,016
General and administrative expenses	153,595	54,487	200,137	147,101
Total operating expenses	166,500	86,856	230,137	210,117
Loss from Operations	(166,500)	(86,856)	(230,137)	(210,117)
Other Income (Expense)
Interest expense	(1,620)	0	(1,620)	0
Other income (expense), net	(1,620)	0	(1,620)	0
Loss before Income Tax	(168,120)	(86,856)	(231,757)	(210,117)
Income Tax	0	0	0	0
Net Loss	$ (168,120)	$ (86,856)	$ (231,757)	$ (210,117)
Net Loss per Common Share - Basic and Diluted	$ 0	$ 0	$ 0	$ 0
Weighted average common shares outstanding: basic and diluted	211,267,623	218,767,623	211,267,623	223,758,532

Statements of Cash Flows (Unaud

Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (231,757)	$ (210,117)
Adjustments to reconcile net loss to net cash used in operating activities
Depreciation expense	0	400
Changes in operating assets and liabilities:
Accounts payable and accrued expenses	33,670	(28,390)
Net cash used in operating activities	(198,087)	(238,107)
CASH FLOWS FROM INVESTING ACTIVITIES:
Acquisition of fixed assets	(6,540)	0
Net cash used in investing activities	(6,540)	0
CASH FLOWS FROM FINANCING ACTIVITIES:
Cash received from stock subscriptions	20,000	0
Advance received from (repaid to) stockholders	176,700	139,467
Principal payments made against capital leases	(9,000)	0
Net cash provided by financing activities	187,700	139,467
Net change in cash	(16,927)	(98,640)
Cash at beginning of the reporting period	16,927	15,151
Cash at end of the reporting period	0	(83,489)
SUPPLEMENTAL DISCLOSURE OF CASH FLOWS INFORMATION:
Interest paid	0	0
Income tax paid	0	0
NON CASH FINANCING AND INVESTING ACTIVITIES:
Conversion of SH advances to APIC	$ 0	$ 620,307

1. Basis of Presentation

1. Basis of Presentation	9 Months Ended
	Dec. 31, 2018
Notes to Financial Statements
1. Basis of Presentation	The accompanying unaudited condensed interim financial statements and related notes have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for the interim financial information, and with the rules and regulations of the United States Securities and Exchange Commission (“SEC”) to Form 10-Q and Article 8 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. The unaudited interim financial statements furnished reflect all adjustments (consisting of normal recurring accruals) which are, in the opinion of management, necessary to a fair statement of the results for the interim period presented. Unaudited interim results are not necessarily indicative of the results for the full fiscal year. These financial statements should be read in conjunction with the financial statements of the Company for the year ended March 31, 2018 and notes thereto contained in the information filed as part of the Company’s Form 10-K, which was filed on December 4, 2018.

2. Summary of Significant Accou

2. Summary of Significant Accounting Policies	9 Months Ended
	Dec. 31, 2018
Notes to Financial Statements
2. Summary of Significant Accounting Policies	Critical Accounting Policies and Use of Estimates In the opinion of Management, all adjustments necessary for a fair statement of results for the fiscal years presented have been included. These financial statements have been prepared in accordance with generally accepted accounting principles (GAAP) generally accepted in the United States of America. GAAP requires the Company to make estimates and judgments that affect the reported amounts of assets. On an on-going basis, the Company evaluates its estimates and judgments, including those related to revenue recognition, inventories, adequacy of allowances for doubtful accounts, valuation of long-lived assets, income taxes, equity-based compensation, litigation and warranties. The Company bases its estimates on historical and anticipated results and trends and on various other assumptions that the Company believes are reasonable under the circumstances, including assumptions as to future events. The policies discussed below are considered by management to be critical to an understanding of the Company’s financial statements. These estimates form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. By their nature, estimates are subject to an inherent degree of uncertainty. Actual results may differ from those estimates. Recently Adopted Accounting Guidance Revenue Recognition - Cash Flow Classification - Goodwill Impairment - In January 2017, the FASB issued an ASU Definition of a Business - In January 2017, the FASB issued an ASU to clarify the definition of a business. The definition of a business affects many areas of accounting including acquisitions, disposals, goodwill, and consolidation. The amendments are intended to help companies and other organizations evaluate whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. The amendments provide a more robust framework to use in determining when a set of assets and activities is a business. The amendments are effective for annual periods beginning after December 15, 2017, including interim periods within those periods. Stock-Based Compensation - Recent Accounting Guidance Not Yet Adopted Leases - Fair Value Measurement With the exception of the pronouncements described above, there have been no new accounting pronouncements issued or adopted since the filing of the Fiscal 2018 Form 10-K that have significance, or potential significance, to the Condensed Financial Statements. Cash and Cash Equivalents There are only cash accounts included in our cash equivalents in these statements. For purposes of the statement of cash flows, the Company considers all short-term securities with a maturity of three months or less to be cash equivalents. There are no short-term cash equivalents reported in these financial statements. Property and Equipment Property and equipment are to be stated at cost less accumulated depreciation. Depreciation is recorded on a straight-line basis over the estimated useful lives of the assets, which range from three to ten years and are typically consistent with tax-basis useful lives. Maintenance and repairs are charged to operations as incurred. Inventory The Company records inventory at the lower of cost or fair market value. Income Taxes The company has net operating loss carryforwards as of December 31, 2018 totaling $3,442,996. A deferred tax benefit of approximately $723,029 has been offset by a valuation allowance of the same amount as its realization is not assured. Due to the current uncertainty of realizing the benefits of the tax NOL carry-forward, a valuation allowance equal to the tax benefits for the deferred taxes has not been established. The full realization of the tax benefit associated with the carry-forward depends predominately upon the Company’s ability to generate taxable income during future periods, which is not assured. Long-Lived Assets Long-lived assets to be held and used are tested for recoverability whenever events or changes in circumstances indicate that the related carrying amount may not be recoverable. When required, impairment losses on assets to be held and used are recognized based on the fair value of the asset. Certain long-lived assets to be disposed of by sale are reported at the lower of carrying amount or fair value less cost to sell. Fair Values of Financial Instruments ASC 825 requires the Corporation to disclose estimated fair value for its financial instruments. Fair value estimates, methods, and assumptions are set forth as follows for the Corporation’s financial instruments. The carrying amounts of cash, receivables, other current assets, payables, accrued expenses and notes payable are reported at cost but approximate fair value because of the short maturity of those instruments. Stock-Based Compensation The Company accounts for employee and non-employee stock awards under ASC 718, whereby equity instruments issued to employees for services are recorded based on the fair value of the instrument issued and those issued to non-employees are recorded based on the fair value of the consideration received or the fair value of the equity instrument, whichever is more reliably measurable. Effects of Recently Issued Accounting Pronouncements The Company has reviewed all recently issued accounting pronouncements noting that they do not affect the financial statements. Per Share Computations Basic net earnings per share are computed using the weighted-average number of common shares outstanding. Diluted earnings per share is computed by dividing net income by the weighted-average number of common shares and the dilutive potential common shares outstanding during the period. All shares were considered anti-dilutive at December 31, 2018 and 2017. Reclassification Certain reclassifications have been made to conform to prior periods’ data to the current presentation. These reclassifications had no effect on reported income. Fiscal Year End The Company elected March 31st as its fiscal year ending date. Subsequent Events The Company follows the guidance in Section 855-10-50 of the FASB Accounting Standards Codification for the disclosure of subsequent events. The Company will evaluate subsequent events through the date when the financial statements were issued. Pursuant to ASU 2010-09 of the FASB Accounting Standards Codification, the Company as an SEC filer considers its financial statements issued when they are widely distributed to users, such as through filing them on EDGAR. Derivative Financial Instruments The Company evaluates all of its agreements to determine if such instruments have derivatives or contain features that qualify as embedded derivatives. For derivative financial instruments that are accounted for as liabilities, the derivative instrument is initially recorded at its fair value and is then re-valued at each reporting date, with changes in the fair value reported in the statements of operations. For stock-based derivative financial instruments, the Company uses a weighted average Black-Scholes-Merton option pricing model to value the derivative instruments at inception and on subsequent valuation dates. The classification of derivative instruments, including whether such instruments should be recorded as liabilities or as equity, is evaluated at the end of each reporting period. Derivative instrument liabilities are classified in the balance sheet as current or non-current based on whether or not net-cash settlement of the derivative instrument could be required within 12 months of the balance sheet date. As of June 30, 2018, the Company’s only derivative financial instrument was an embedded conversion feature associated with convertible promissory note due to certain provisions that allow for a change in the conversion price based on a percentage of the Company’s stock price at the date of conversion.

3. Going Concern

3. Going Concern	9 Months Ended
	Dec. 31, 2018
Notes to Financial Statements
3. Going Concern	The accompanying financial statements have been prepared assuming that the Company will continue as a going concern, which contemplates the recoverability of assets and the satisfaction of liabilities in the normal course of business. Since its inception, the Company has been engaged substantially in financing activities and developing its business plan and marketing. For the nine months ended December 31, 2018, the Company incurred a net loss of $(231,757) and the net cash flow used in operations was $(198,087) and its accumulated net losses from inception through the period ended December 31, 2018 is $(3,467,116), which raises substantial doubt about the Company’s ability to continue as a going concern. In addition, the Company’s development activities since inception have been financially sustained through capital contributions from shareholders. The ability of the Company to continue as a going concern is dependent upon its ability to raise additional capital from the sale of common stock or through debt financing and, ultimately, the achievement of significant operating revenues. These financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts, or amounts and classification of liabilities that might result from this uncertainty. Our activities have been financed primarily from the advances of major shareholder. The Company plans to raise additional funds through debt or equity offerings. There is no guarantee that the Company will be able to raise any capital through this or any other offerings.

4. Property and Equipment

4. Property and Equipment	9 Months Ended
	Dec. 31, 2018
Notes to Financial Statements
4. Property and Equipment	The Company has acquired all its office and field work equipment with cash payments. The total fixed assets consist of various equipment items and the totals are as follows: Asset December 31, 2018 Equipment $ 69,540 Accumulated depreciation (8,000 ) Net Fixed Assets $ 61,540 Depreciation expenses for the three months ended December 31, 2018 and 2017 was $0.

5. Advances from Stockholders a

5. Advances from Stockholders and Related Party Transactions	9 Months Ended
	Dec. 31, 2018
Notes to Financial Statements
5. Advances from Stockholders and Related Party Transactions	Related Parties Related parties with whom the Company had transactions are: Related Parties Relationship Alvin Snaper Chairman and majority stockholder of the Company Chas Radovich CEO and Stockholder of the Company Leroy Delisle Stockholder of the Company Advances from and Stockholders From time to time, stockholders of the Company advance funds to the Company for working capital purposes. Those advances are unsecured, non-interest bearing and due on demand. Below are the details of the advances by party: Chas Radovich Leroy Delisle Alvin Snaper Total Balance at March 31, 2018 $ 3,312 $ 105,600 $ 9,000 $ 117,912 Advances for the nine months ended December 31, 2018 108,600 66,400 1,700 176,700 Balance at December 31, 2018 $ 111,912 $ 172,000 $ 10,700 $ 294,612 Operating Lease from Chairman On June 5, 2012 the Company entered into a lease agreement, for office space for its corporate office at 1000 W. Bonanza, Las Vegas, Nevada 89106, with its Chairman, Alvin Snaper, at $2,500 plus utilities and other CAMs per month on a month-to-month basis, effective June 15, 2012. During the nine months ended December 31, 2018 and 2017, the Company has paid or accrued $30,000 and $63,016, respectively, of rent pursuant to this agreement.

6. Stockholders' Equity

6. Stockholders' Equity	9 Months Ended
	Dec. 31, 2018
Notes to Financial Statements
6. Stockholders' Equity	Shares Authorized Upon formation the total number of shares of all classes of capital stock which the Company is authorized to issue is four hundred fifty million (450,000,000) shares with a par value of $0.001, all of which are designated as Common Stock. Common Stock Immediately prior to the consummation of the Acquisition Agreement on June 5, 2012, the Company had 113,525,000 common shares issued and outstanding. Upon consummation of the Acquisition Agreement on June 5, 2012, the then majority stockholders of the Company surrendered 85,575,000 shares of the Company's common stock which was cancelled upon receipt and the Company issued 43,850,000 shares of its common stock pursuant to the terms and conditions of the Acquisition Agreement. On February 3, 2016, the Company issued 7,103,333 shares at various values to fulfil $212,000 of stock subscriptions. On February 3, 2016, the Company issued 6,150,000 shares of common stock to acquire the Autogenous Impact Mill technology from one of its stockholders at a value of $6,150. The stockholder owned the asset for over 20 years and the asset was fully depreciated. Assets acquired from related parties are recorded and the seller’s depreciated value; therefore, the Company recorded the asset at $1. The remaining $6,149 was recorded as research and development expenses. On February 3, 2016, the Company issued 120,000 shares of common stock at $0.03 per share as a payment against an accounts payable balance. On February 3, 2016, the Company issued 111,000 shares of common stock at $0.0495 per share as a payment against an accounts payable balance. Between September 3, 2015 and November 5, 2015, the Company issued 1,161,290 shares at an average value of $0.011 as a $13,000 payment towards a note payable. On June 8, 2015, the Company issued 30,000,000 shares of common stock at $0.005 per share to pay down $150,000 of the advances from shareholders. On June 8, 2015, the Company issued 30,000,000 shares of common stock at $0.005 per share for a total of $150,000 in exchange for services. On June 8, 2015, the Company issued 1,000,000 shares of common stock at $0.005 per share for a total of $5,000 in exchange for website design services. On February 3, 2016, the Company issued 70,675,000 shares of common stock at $0.013 per share in exchange for $918,775 of services. On May 18, 2016, the Company issued 5,747,000 shares of common stock at various values to fulfil $354,700 of stock subscriptions. In November 2017, 15,000,000 shares of common stock were returned to Treasury at $0.005 per share. The shares were originally issued in exchange for $75,000 of services; therefore, in addition to reducing the common stock and APIC balances by a total of $75,000, accumulated deficit was reduced by $75,000. There are 211,267,623 shares of common stock issued as of December 31, 2018 and March 31, 2018. Stock Subscriptions The Company received $20,000 of stock subscriptions during the nine months ended December 31, 2018. The total stock subscription balance is $70,000 and $50,000 as of December 31, 2018 and March 31, 2018, respectively. This is an accrual account used to capture stock-cash timing differences while presenting information consistent with transfer agent records. On June 4, 2018, the Company entered into a stock purchase agreement with an outside investor; whereby 400,000 shares were to be issued for $0.05 per share for a total of $20,000. The $20,000 was received from the outside investor on June 4, 2018 and the shares are yet to be issued; therefore, the Company has recorded a stock subscription liability of $20,000 on the balance sheet.

7. Convertible Promissory Notes

7. Convertible Promissory Notes	9 Months Ended
	Dec. 31, 2018
Notes to Financial Statements
7. Convertible Promissory Notes	During the year ended March 31, 2016, the Company issued a revolving convertible promissory note to an investor for borrowing up to $250,000. The Company borrowed $25,000 under this revolving convertible promissory note during the year ended March 31, 2016 as follows: $2,500 paid directly towards legal and document fees, $5,500 paid directly towards interest expense and $17,000 deposited into the Company’s bank account. The convertible promissory note (i) are unsecured, (ii) bear interest at the rate of 5% per annum (of which six months is guaranteed with each funding), and (iii) are due the 45 days after the funding of the initial funding and six months after all subsequent funding. The convertible promissory note is convertible at any time at the option of the investor into shares of the Company’s common stock that is determined by dividing the amount to be converted by the lowest trading price of the Company’s common stock during the five days prior to conversion. If the convertible is in default, the convertible promissory note is into shares of the Company’s common stock that is determined by dividing the amount to be converted by 60% the lowest trading price of the Company’s common stock during the five days prior to conversion. Due to the potential adjustment in the conversion price associated with this convertible promissory note based on the Company’s stock price, the Company has determined that the conversion feature is considered a derivative liability. The embedded conversion feature was initially calculated to be $22,739 which are recorded as a derivative liability as of the date of issuance. The derivative liability was recorded as a debt discount to the convertible promissory note. The debt discount is being amortized over the term of the convertible promissory note. The Company recognized interest expense of $22,739 during the year ended March 31, 2016 related to the amortization of the debt discount. Also during the year ended March 31, 2016, this revolving convertible promissory note was cancelled and any remaining balances of the convertible note and derivative liability were combined into a note payable. The balance of this note payable is $12,000 as of December 31, 2018 and March 31, 2018.

8. Income Tax Provision

8. Income Tax Provision	9 Months Ended
	Dec. 31, 2018
Notes to Financial Statements
8. Income Tax Provision	Deferred tax assets At December 31, 2018, the Company had net operating loss (“NOL”) carry–forwards for Federal income tax purposes of $3,467,116 that may be offset against future taxable income through 2038. The carry-forwards begin to expire in the year 2027. No tax benefit has been reported with respect to these net operating loss carry-forwards in the accompanying financial statements because the Company believes that the realization of the Company’s net deferred tax assets of approximately $728,094 was not considered more likely than not and accordingly, the potential tax benefits of the net loss carry-forwards are fully offset by a full valuation allowance. Deferred tax assets consist primarily of the tax effect of NOL carry-forwards. The Company has provided a full valuation allowance on the deferred tax assets because of the uncertainty regarding its realization. The valuation allowance increased approximately $48,369 for the nine months ended December 31, 2018. Components of deferred tax assets are as follows: Net deferred taxes – Non-current December 31, 2018 Expected income tax benefit from NOL carry-forwards $ 728,094 Less valuation allowance (728,094 ) Deferred tax assets, net of valuation allowance $ - Income taxes in the statements of operations A reconciliation of the federal statutory income tax rate and the effective income tax rate as a percentage of income before income taxes is as follows: December 31, 2018 Federal statutory income tax rate 21.00 % Change in valuation allowance on net operating loss carry-forwards (21.00 %) Effective income tax rate $ -

9. Commitments, Contingencies a

9. Commitments, Contingencies and Concentrations	9 Months Ended
	Dec. 31, 2018
Notes to Financial Statements
9. Commitments, Contingencies and Concentrations	Except for as follows the Company does not have any commitments, contingencies or concentrations: In May 2017, the Company lost a civil suit whereby the court awarded the plaintiff a default judgment of $112,968. See Note 7. The Company has accrued $114,408 for this judgement as of December 31, 2018 and March 31, 2018. There were no legal fees incurred with respect to this default judgement.

10. Lease Obligations Payable

10. Lease Obligations Payable	9 Months Ended
	Dec. 31, 2018
Capital Lease Obligations [Abstract]
10. Lease Obligations Payable	The Company leases specialized equipment under leases classified as capital leases. The leased equipment will be amortized on a straight-line basis over 5 years once it is placed in service. The following is a schedule showing the future minimum lease payments under capital leases by years and the present value of the minimum lease payments as of December 31, 2018. There is no interest rate related to the lease obligation and the maturity date is September 2021. Fiscal year ending March 31: 2019 $ 12,000 2020 12,000 2021 9,000 Total minimum lease payments 33,000 Less: Amount representing interest - Present value of minimum lease payments $ 33,000 At December 31, 2018, the present value of minimum lease payments due within one year is $12,000.

11. Subsequent Events

11. Subsequent Events	9 Months Ended
	Dec. 31, 2018
Notes to Financial Statements
11. Subsequent Events	In preparing the financial statements, management has evaluated events and transactions for potential recognition or disclosure through the date that the financial statements were available to be issued and determined there were no subsequent events resulting in adjustments to or disclosure in the financial statements.

2. Summary of Significant Acc_2

2. Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Dec. 31, 2018
Accounting Policies [Abstract]
Critical Accounting Policies and Use of Estimates	In the opinion of Management, all adjustments necessary for a fair statement of results for the fiscal years presented have been included. These financial statements have been prepared in accordance with generally accepted accounting principles (GAAP) generally accepted in the United States of America. GAAP requires the Company to make estimates and judgments that affect the reported amounts of assets. On an on-going basis, the Company evaluates its estimates and judgments, including those related to revenue recognition, inventories, adequacy of allowances for doubtful accounts, valuation of long-lived assets, income taxes, equity-based compensation, litigation and warranties. The Company bases its estimates on historical and anticipated results and trends and on various other assumptions that the Company believes are reasonable under the circumstances, including assumptions as to future events. The policies discussed below are considered by management to be critical to an understanding of the Company’s financial statements. These estimates form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. By their nature, estimates are subject to an inherent degree of uncertainty. Actual results may differ from those estimates.
Recently Adopted Accounting Guidance	Revenue Recognition - Cash Flow Classification - Goodwill Impairment - In January 2017, the FASB issued an ASU Definition of a Business - In January 2017, the FASB issued an ASU to clarify the definition of a business. The definition of a business affects many areas of accounting including acquisitions, disposals, goodwill, and consolidation. The amendments are intended to help companies and other organizations evaluate whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. The amendments provide a more robust framework to use in determining when a set of assets and activities is a business. The amendments are effective for annual periods beginning after December 15, 2017, including interim periods within those periods. Stock-Based Compensation - Recent Accounting Guidance Not Yet Adopted Leases - Fair Value Measurement With the exception of the pronouncements described above, there have been no new accounting pronouncements issued or adopted since the filing of the Fiscal 2018 Form 10-K that have significance, or potential significance, to the Condensed Financial Statements.
Cash and Cash Equivalents	There are only cash accounts included in our cash equivalents in these statements. For purposes of the statement of cash flows, the Company considers all short-term securities with a maturity of three months or less to be cash equivalents. There are no short-term cash equivalents reported in these financial statements.
Property and Equipment	Property and equipment are to be stated at cost less accumulated depreciation. Depreciation is recorded on a straight-line basis over the estimated useful lives of the assets, which range from three to ten years and are typically consistent with tax-basis useful lives. Maintenance and repairs are charged to operations as incurred.
Inventory	The Company records inventory at the lower of cost or fair market value.
Income Taxes	The company has net operating loss carryforwards as of December 31, 2018 totaling $3,442,996. A deferred tax benefit of approximately $723,029 has been offset by a valuation allowance of the same amount as its realization is not assured. Due to the current uncertainty of realizing the benefits of the tax NOL carry-forward, a valuation allowance equal to the tax benefits for the deferred taxes has not been established. The full realization of the tax benefit associated with the carry-forward depends predominately upon the Company’s ability to generate taxable income during future periods, which is not assured.
Long-Lived Assets	Long-lived assets to be held and used are tested for recoverability whenever events or changes in circumstances indicate that the related carrying amount may not be recoverable. When required, impairment losses on assets to be held and used are recognized based on the fair value of the asset. Certain long-lived assets to be disposed of by sale are reported at the lower of carrying amount or fair value less cost to sell.
Fair Value of Financial Instrments	ASC 825 requires the Corporation to disclose estimated fair value for its financial instruments. Fair value estimates, methods, and assumptions are set forth as follows for the Corporation’s financial instruments. The carrying amounts of cash, receivables, other current assets, payables, accrued expenses and notes payable are reported at cost but approximate fair value because of the short maturity of those instruments.
Stock-Based Compensation	The Company accounts for employee and non-employee stock awards under ASC 718, whereby equity instruments issued to employees for services are recorded based on the fair value of the instrument issued and those issued to non-employees are recorded based on the fair value of the consideration received or the fair value of the equity instrument, whichever is more reliably measurable.
Effects of Recently Issued Accounting Pronouncements	The Company has reviewed all recently issued accounting pronouncements noting that they do not affect the financial statements.
Per Share Computations	Basic net earnings per share are computed using the weighted-average number of common shares outstanding. Diluted earnings per share is computed by dividing net income by the weighted-average number of common shares and the dilutive potential common shares outstanding during the period. All shares were considered anti-dilutive at December 31, 2018 and 2017.
Reclassification	Certain reclassifications have been made to conform to prior periods’ data to the current presentation. These reclassifications had no effect on reported income.
Fiscal Year End	The Company elected March 31st as its fiscal year ending date.
Subsequent Events	The Company follows the guidance in Section 855-10-50 of the FASB Accounting Standards Codification for the disclosure of subsequent events. The Company will evaluate subsequent events through the date when the financial statements were issued. Pursuant to ASU 2010-09 of the FASB Accounting Standards Codification, the Company as an SEC filer considers its financial statements issued when they are widely distributed to users, such as through filing them on EDGAR.
Derivative Financial Instruments	The Company evaluates all of its agreements to determine if such instruments have derivatives or contain features that qualify as embedded derivatives. For derivative financial instruments that are accounted for as liabilities, the derivative instrument is initially recorded at its fair value and is then re-valued at each reporting date, with changes in the fair value reported in the statements of operations. For stock-based derivative financial instruments, the Company uses a weighted average Black-Scholes-Merton option pricing model to value the derivative instruments at inception and on subsequent valuation dates. The classification of derivative instruments, including whether such instruments should be recorded as liabilities or as equity, is evaluated at the end of each reporting period. Derivative instrument liabilities are classified in the balance sheet as current or non-current based on whether or not net-cash settlement of the derivative instrument could be required within 12 months of the balance sheet date. As of June 30, 2018, the Company’s only derivative financial instrument was an embedded conversion feature associated with convertible promissory note due to certain provisions that allow for a change in the conversion price based on a percentage of the Company’s stock price at the date of conversion.

4. Property and Equipment (Tabl

4. Property and Equipment (Tables)	9 Months Ended
	Dec. 31, 2018
PROPERTY AND EQUIPMENT, NET:
Property and Equipment	Asset December 31, 2018 Equipment $ 69,540 Accumulated depreciation (8,000 ) Net Fixed Assets $ 61,540

5. Advances from Stockholders_2

5. Advances from Stockholders and Related Party Transactions (Tables)	9 Months Ended
	Dec. 31, 2018
Related Party Transactions [Abstract]
Advances from Stockholders	Chas Radovich Leroy Delisle Alvin Snaper Total Balance at March 31, 2018 $ 3,312 $ 105,600 $ 9,000 $ 117,912 Advances for the nine months ended December 31, 2018 108,600 66,400 1,700 176,700 Balance at December 31, 2018 $ 111,912 $ 172,000 $ 10,700 $ 294,612

8. Income Tax Provision (Tables

8. Income Tax Provision (Tables)	9 Months Ended
	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Deferred Tax Assets	Net deferred taxes – Non-current December 31, 2018 Expected income tax benefit from NOL carry-forwards $ 728,094 Less valuation allowance (728,094 ) Deferred tax assets, net of valuation allowance $ -
Reconciliation of Federal Income Tax Rate	December 31, 2018 Federal statutory income tax rate 21.00 % Change in valuation allowance on net operating loss carry-forwards (21.00 %) Effective income tax rate $ -

10. Lease Obligations Payable (

10. Lease Obligations Payable (Tables)	9 Months Ended
	Dec. 31, 2018
Capital Lease Obligations [Abstract]
Future minimum lease payments	2019 $ 12,000 2020 12,000 2021 9,000 Total minimum lease payments 33,000 Less: Amount representing interest - Present value of minimum lease payments $ 33,000

2. Summary of Significant Acc_3

2. Summary of Significant Accounting Policies (Details Narrative)	9 Months Ended
	Dec. 31, 2018USD ($)
Accounting Policies [Abstract]
Net operating loss carryforwards	$ (3,442,996)
Deferred tax benefit	$ 723,029

3. Going Concern (Details Narra

3. Going Concern (Details Narrative) - USD ($)	3 Months Ended		9 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Mar. 31, 2018
Going Concern
Net loss	$ (168,120)	$ (86,856)	$ (231,757)	$ (210,117)
Net cash used in operating activities			(198,087)	$ (238,107)
Accumulated deficit	$ (3,467,116)		$ (3,467,116)		$ (3,235,359)

4. Property and Equipment (Deta

4. Property and Equipment (Details) - USD ($)	Dec. 31, 2018	Mar. 31, 2018
PROPERTY AND EQUIPMENT, NET:
Equipment	$ 69,540	$ 63,000
Accumulated depreciation	(8,000)	(8,000)
Net fixed assets	$ 61,540	$ 55,000

4. Property and Equipment (De_2

4. Property and Equipment (Details Narrative) - USD ($)	3 Months Ended		9 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2018	Dec. 31, 2017
PROPERTY AND EQUIPMENT, NET:
Depreciation Expense	$ 0	$ 0	$ 0	$ 400

5. Advances from Stockholders_3

5. Advances from Stockholders and Related Party Transactions (Details)	9 Months Ended
	Dec. 31, 2018USD ($)
Advances from stockholders, beginning	$ 117,912
Advances for period	176,700
Advances from stockholders, ending	294,612
Chas Radovich
Advances from stockholders, beginning	3,312
Advances for period	108,600
Advances from stockholders, ending	111,912
Leroy Delisle
Advances from stockholders, beginning	105,600
Advances for period	66,400
Advances from stockholders, ending	172,000
Alvin Snaper
Advances from stockholders, beginning	9,000
Advances for period	1,700
Advances from stockholders, ending	$ 10,700

5. Advances from Stockholders_4

5. Advances from Stockholders and Related Party Transactions (Details Narrative) - USD ($)	Dec. 31, 2018	Dec. 31, 2017
Related Party Transactions [Abstract]
Accrued rent	$ 30,000	$ 63,016

6. Stockholders' Equity (Detail

6. Stockholders' Equity (Details Narrative) - $ / shares	Dec. 31, 2018	Mar. 31, 2018
STOCKHOLDERS'DEFICIT:
Common Stock, par value	$ 0.001	$ 0.001
Common Stock, shares authorized	450,000,000	450,000,000
Common Stock, shares issued	211,267,623	211,267,623

7. Convertible Promissory Not_2

7. Convertible Promissory Notes (Details Narrative) - USD ($)	Dec. 31, 2018	Mar. 31, 2018
Debt Disclosure [Abstract]
Note payable - Bauta	$ 12,000	$ 12,000

8. Income Tax Provision (Detail

8. Income Tax Provision (Details)	Dec. 31, 2018USD ($)
Income Tax Disclosure [Abstract]
Expected income tax benefit from NOL carry-forwards	$ 728,094
Less valuation allowance	(728,094)
Deferred tax assets, net of valuation allowance	$ 0

8. Income Tax Provision (Deta_2

8. Income Tax Provision (Details 1)	9 Months Ended
	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Federal statutory income tax rate	21.00%
Change in valuation allowance on net operating loss carry-forwards	(21.00%)
Effective income tax rate	0.00%

8. Income Tax Provision (Deta_3

8. Income Tax Provision (Details Narrative)	9 Months Ended
	Dec. 31, 2018USD ($)
Income Tax Disclosure [Abstract]
Net operating loss carryforward	$ (3,442,996)
Net deferred tax assets	728,094
Valuation allowance increase	$ 48,369

9. Commitments, Contingencies_2

9. Commitments, Contingencies and Concentrations (Details Narrative) - USD ($)	Dec. 31, 2018	Mar. 31, 2018
Commitments and Contingencies Disclosure [Abstract]
Default judgement liability	$ 114,408	$ 114,408

10. Lease Obligations Payable_2

10. Lease Obligations Payable (Details)	Dec. 31, 2018USD ($)
Capital Lease Obligations [Abstract]
2,019	$ 12,000
2,020	12,000
2,021	9,000
Total minimum lease payments	33,000
Less: Amount representing interest	0
Present value of minimum lease payments	$ 33,000