Document and Entity Information
Document and Entity Information - USD ($) | 12 Months Ended | ||
Mar. 31, 2017 | Jul. 31, 2018 | Sep. 30, 2017 | |
Details | |||
Registrant Name | RANGEFORD RESOURCES, INC. | ||
Registrant CIK | 1,438,035 | ||
SEC Form | 10-K | ||
Period End date | Mar. 31, 2017 | ||
Fiscal Year End | --03-31 | ||
Trading Symbol | rgfr | ||
Tax Identification Number (TIN) | 771,176,182 | ||
Number of common stock shares outstanding | 15,860,832 | ||
Public Float | $ 20,545,534 | ||
Filer Category | Smaller Reporting Company | ||
Current with reporting | Yes | ||
Voluntary filer | No | ||
Well-known Seasoned Issuer | No | ||
Emerging Growth Company | false | ||
Ex Transition Period | false | ||
Amendment Flag | false | ||
Document Fiscal Year Focus | 2,017 | ||
Document Fiscal Period Focus | FY | ||
Entity Incorporation, State Country Name | NEVADA | ||
Entity Address, Address Line One | 301 Commerce St, Suite 3500, Fort Worth, Tx | ||
Entity Address, Postal Zip Code | 76,102 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) | Mar. 31, 2017 | Mar. 31, 2016 |
Current assets | ||
Cash | $ 46 | $ 110 |
Debt Issuance Costs-net of amortization | 0 | 0 |
Total current assets | 46 | 110 |
Deposit (Note 3) | 0 | 0 |
Total assets | 46 | 110 |
Current liabilities | ||
Accounts payable | 1,227,425 | 1,249,654 |
Accounts payable- related party | 17,100 | 17,100 |
Accrued interest payable-related party | 76,637 | 43,462 |
Note payable | 12,789 | 0 |
Related party advances | 100 | 100 |
Total current liabilities | 1,334,051 | 1,310,316 |
Related party notes payable | 1,004,607 | 656,338 |
Total liabilities | 2,338,658 | 1,966,654 |
Stockholders' deficit | ||
Series A convertible preferred stock, $.001 par value, stated value $5.00 per share, 3,000,000 shares authorized; 182,000 and 182,000 shares issued and outstanding, respectively | 182 | 182 |
Common stock to be issued | 787,000 | 320,000 |
Common stock, $.001 par value; 75,000,000 shares authorized; 20,545,534 and 20,105,293 shares issued and outstanding, respectively | 20,545 | 20,105 |
Additional paid in capital | 6,269,718 | 5,855,564 |
Retained Earnings | (9,416,057) | (8,162,395) |
Total stockholders' deficit | (2,338,612) | (1,966,544) |
Total liabilities and stockholders' deficit | $ 46 | $ 110 |
Consolidated Balance Sheets - P
Consolidated Balance Sheets - Parenthetical - $ / shares | Mar. 31, 2017 | Mar. 31, 2016 |
Details | ||
Preferred Stock, Par or Stated Value Per Share | $ 0.001 | $ 0.001 |
Preferred Stock, Redemption Price Per Share | $ 5 | $ 5 |
Preferred Stock, Shares Authorized | 3,000,000 | 3,000,000 |
Preferred Stock, Shares Issued | 182,000 | 182,000 |
Preferred Stock, Shares Outstanding | 182,000 | 182,000 |
Common Stock, Par or Stated Value Per Share | $ 0.001 | $ 0.001 |
Common Stock, Shares Authorized | 75,000,000 | 75,000,000 |
Common Stock, Shares, Issued | 20,545,534 | 20,105,293 |
Common Stock, Shares, Outstanding | 20,545,534 | 20,105,293 |
Consolidated Statements of Oper
Consolidated Statements of Operations - USD ($) | 12 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Operating Expenses | ||
Investor relations | $ 10,557 | $ 32,905 |
Professional fees | 107,459 | 794,340 |
Professional fees-related party | 365,079 | 0 |
General and administrative | 825,810 | 53,778 |
Total operating expenses | 1,308,905 | 881,023 |
Loss from operations | (1,308,905) | (881,023) |
Other expense | ||
Interest expense | 35,478 | 20,943 |
Gain on settlement of accrued compensation | (90,721) | 0 |
Total other expense (gain) | (55,243) | 20,943 |
Loss before income taxes | (1,253,662) | (901,966) |
Provision for income tax | 0 | 0 |
Net loss | (1,253,662) | (901,966) |
Preferred stock dividends | (72,800) | (72,800) |
Net loss attributable to common shareholders | $ (1,326,462) | $ (974,766) |
Basic and diluted loss per common share | $ (0.06) | $ (0.05) |
Weighted average shares outstanding | 20,408,707 | 20,105,293 |
Consolidated Statement of Stock
Consolidated Statement of Stockholders' Equity (Deficit) - USD ($) | Preferred Stock | Common Stock | Common stock payable | Additional Paid-in Capital | Retained Earnings | Total |
Stockholders' Equity Attributable to Parent, Beginning Balance at Mar. 31, 2015 | $ 182 | $ 20,105 | $ 80,000 | $ 5,855,564 | $ (7,260,429) | $ (1,304,578) |
Shares, Outstanding, Beginning Balance at Mar. 31, 2015 | 182,000 | 20,105,293 | ||||
Shares Issued for Services, Value | $ 0 | $ 0 | 240,000 | 0 | 0 | 240,000 |
Net loss | 0 | 0 | 0 | 0 | (901,966) | (901,966) |
Stockholders' Equity Attributable to Parent, Ending Balance at Mar. 31, 2016 | $ 182 | $ 20,105 | 320,000 | 5,855,564 | (8,162,395) | (1,966,544) |
Shares, Outstanding, Ending Balance at Mar. 31, 2016 | 182,000 | 20,105,293 | ||||
Shares Issued for Services, Value | $ 0 | $ 325 | 365,000 | 289,675 | 0 | 655,000 |
Net loss | 0 | 0 | 0 | 0 | (1,253,662) | (1,253,662) |
Stockholders' Equity Attributable to Parent, Ending Balance at Mar. 31, 2017 | $ 182 | $ 20,545 | 787,000 | 6,269,718 | (9,416,057) | (2,338,612) |
Shares, Outstanding, Ending Balance at Mar. 31, 2017 | 182,000 | 20,545,534 | ||||
Shares Issued for Services | 325,241 | |||||
Settlement of accrued compensation | $ 0 | $ 0 | 102,000 | 0 | 0 | 102,000 |
Warrant expense | 0 | 0 | 0 | 9,594 | 0 | 9,594 |
Advances converted to common stock | $ 0 | $ 115 | $ 0 | $ 114,885 | $ 0 | $ 115,000 |
Advances converted to common stock | 115,000 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) | 12 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Cash flows from operating activities | ||
Net loss | $ (1,253,662) | $ (901,966) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Stock Based Compensation | 655,000 | 240,000 |
Gain on settlement of accrued compensation | (90,721) | 0 |
Amortization of debt issuance costs | 2,303 | 0 |
Warrant expense | 80 | 0 |
Changes in operating liabilities: | ||
Accounts payable | 170,492 | 607,335 |
Accounts payable- related party | 238,175 | (23,920) |
Accrued interest payable | 0 | 20,943 |
Net cash used in operating activities | (278,333) | (57,608) |
Cash flows from financing activities | ||
Proceeds from related party payable | 258,269 | 57,679 |
Proceeds from Senior Note payable | 20,000 | 0 |
Debt issuance costs | 0 | |
Net cash provided by financing activities | 278,269 | 57,679 |
Net (decrease) increase in cash | (64) | 71 |
Cash at beginning of period | 110 | 39 |
Cash at end of period | 46 | 110 |
Supplemental disclosure of non-cash investing and financing activities: | ||
Issuance of 115,000 shares of common stock in exchange for related party notes payable | 115,000 | 0 |
Related Party accounts payable converted to note payable | 205,000 | 0 |
Warrant issued with debt | 9,514 | 0 |
Stock payable for accrued compensation | 102,000 | 0 |
Cash paid for interest | 0 | 0 |
Cash paid for income taxes | $ 0 | $ 0 |
Note 1 -Nature of Business
Note 1 -Nature of Business | 12 Months Ended |
Mar. 31, 2017 | |
Notes | |
Note 1 -Nature of Business | Note 1 -Nature of Business Rangeford Resources, Inc. (the Company) was incorporated on December 4, 2007 in the State of Nevada. The Company was organized under the laws of the State of Nevada on December 4, 2007 for the purpose of purchasing, developing and operating oil and gas leases. On December 26, 2016, Rangeford Resources Inc. formed a wholly owned subsidiary, Cherryvale Kansas, LLC in order to execute a purchase and sale agreement. The agreement was not consummated and the subsidiary had no operations. |
Note 2 - Significant Accounting
Note 2 - Significant Accounting Policies | 12 Months Ended |
Mar. 31, 2017 | |
Notes | |
Note 2 - Significant Accounting Policies | The hierarchy gives the highest priority to Level 1 measurements and the lowest priority to Level 3 measurements. Depending on the particular asset or liability, input availability can vary depending on factors such as product type, longevity of a product in the market and other particular transaction conditions. In some cases, certain inputs used to measure fair value may be categorized into different levels of the fair value hierarchy. For disclosure purposes under the accounting guidance, the lowest level that contains significant inputs used in the valuation should be chosen. Impairment of Long-Lived Assets The Company reviews its long-lived assets and certain identifiable intangibles for impairment when events or changes in circumstances indicate that the carrying amount of the assets may not be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amounts of the assets to future net cash flows expected to be generated by the assets. If such assets are considered impaired, the impairment to be recognized is measured by the amount by which the carrying amount of the assets exceed the fair value of the assets based on estimated future cash flows. No impairment charges were recorded for the year ended March 31, 2017 and 2016. Earnings Per Share Information FASB ASC 260, “ Earnings Per Share” Going Concern The Company’s consolidated financial statements are prepared using generally accepted accounting principles in the United States of America applicable to a going concern which contemplates the realization of assets and liquidation of liabilities in the normal course of business. The Company has not yet established an ongoing source of revenues sufficient to cover its operating costs and expenses. The ability of the Company to continue operating is dependent on the Company obtaining adequate capital to fund operating losses until it becomes profitable. These factors raise substantial doubt regarding the Company’s ability to continue as a going concern. If the Company is unable to obtain adequate capital, it could be forced to cease operations. In order to continue as a going concern, the Company will need, among other things, additional capital resources. Management’s plan is to obtain such resources for the Company by obtaining capital from management and significant shareholders sufficient to meet its minimal operating expenses and seeking equity and/or debt financing. However management cannot provide any assurances that the Company will be successful in accomplishing any of its plans. The ability of the Company to continue as a going concern is dependent upon its ability to successfully accomplish the plans described in the preceding paragraph and eventually secure other sources of financing and attain profitable operations. The accompanying consolidated financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern. Recently Adopted Accounting Pronouncements In March 2016, the FASB issued Accounting Standards Update No. 2016-09: Compensation – Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting (ASU 2016-09). ASU 2016-09 is part of an initiative to reduce complexity in accounting standards. The areas of simplification in ASU 2016-09 involve several aspects of accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. For public entities, ASU 2016-09 is effective for consolidated financial statements issued for fiscal years beginning after December 15, 2016, including interim periods within those fiscal years; early application is permitted. The provisions of this accounting update did not have a material impact on the Company’s financial position, results of operations or cash flows. In February 2016, the FASB issued Accounting Standards Update No. 2016-02: Leases (Topic 842) (ASU 2016-02). The main objective of ASU 2016-02 is to increase transparency and comparability among organizations by recognizing lease assets and lease liabilities on the balance sheet and disclosing key information about leasing arrangements. The main difference between previous GAAP and Topic 842 is the recognition of lease assets and lease liabilities by lessees for those leases classified as operating leases. ASU 2016-02 requires lessees to recognize assets and liabilities arising from leases on the balance sheet. In transition, lessees and lessors are required to recognize and measure leases at the beginning of the earliest period presented using a modified retrospective approach. For public entities, ASU 2016-02 is effective for consolidated financial statements issued for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years; early application is permitted. The provisions of this accounting update are not expected to have a material impact on the Company’s financial position, results of operations or cash flows. In August 2016, the FASB issued ASU No. 2016-15, Statement of Cash Flows (Topic 230), which is intended to reduce diversity in practice in how certain transactions are classified in the statement of cash flows. The guidance addresses eight specific cash flow issues for which current GAAP is either unclear or does not include specific guidance. The guidance is effective for annual periods beginning after December 15, 2017 and interim periods within those annual periods. Early adoption is permitted, provided that all of the amendments are adopted in the same period. This ASU must be adopted using a retrospective transition method. The Company plans to adopt this guidance effective March 31, 2018. The Company has not identified any changes to this guidance that upon adoption will have a material effect on its cash flows. |
Note 3 - Agreement to Purchase
Note 3 - Agreement to Purchase Oil and Gas Properties | 12 Months Ended |
Mar. 31, 2017 | |
Notes | |
Note 3 - Agreement to Purchase Oil and Gas Properties | Note 3 – Agreement to Purchase Oil and Gas Properties Cherryvale, Kansas Acquisition On December 26, 2016, Rangeford Resources Inc. formed a wholly owned subsidiary, Cherryvale Kansas, LLC and executed a purchase and sale agreement on December 26, 2016 with Dog Day, Inc., a Texas Corporation (“DDI”), headquartered in Nacogdoches Texas for the acquisition of certain oil and gas leases covering approximately 800 gross acres of land and DDI’s interest in approximately 53 wells. DDI failed to obtain necessary consents by February 2017, and the purchase agreement was not consummated as of March 31, 2017. Great Northern Energy, Inc. On November 15, 2012, the Company entered into a Purchase and Sale Agreement (the “Agreement”) with Great Northern Energy, Inc. (“GNE”) to acquire a substantial non-operating working interest in oil assets in East Texas. As of March 31, 2014, the Company had issued 7,400,000 shares of common stock to GNE towards the purchase of the oil and gas properties. Due to the lack of any tangible results as contemplated in the Agreement, and to GNE's failure to uphold certain of its obligations under the Agreement, we determined it would be in our best interest to terminate the Agreement. GNE has returned the stock certificate for 7,400,000 shares, however, GNE did not submit an executed stock power which is required to cancel the GNE shares. As such, these shares are considered issued and outstanding at March 31, 2017. Black Gold Kansas Production, LLC Kansas – George Prospect On June 1, 2015, the Company executed a Purchase and Sale Agreement (the "George PSA") with Black Gold Kansas Production, LLC, a Texas limited liability company (“BGKP”). Pursuant to the George PSA, the Company was to receive a 30% working interest and a 26.25 % net revenue interest in and to the George Prospect and the 4 drilled and completed wells located in Kansas. In addition, the Company was to acquire a 75% interest in and to approximately 3,000 acres of land within Bourbon and Allen Counties that contained approximately 42 proved undeveloped (PUD) locations for drilling. Pursuant to the George PSA, the parties also entered into a Joint Exploration Agreement. On July 23, 2015, the parties also entered into an amendment and extension to the George PSA until October 1, 2015. The Company was entitled to conduct due diligence of the properties prior to closing. Subsequently, after assessing the Purchase and Sale Agreements, we elected to not to close on the transactions due to litigation between Black Gold Kansas Production, LLC and another working interest owner concerning the use of funds and operating control. |
Note 4 - Note Payable
Note 4 - Note Payable | 12 Months Ended |
Mar. 31, 2017 | |
Notes | |
Note 4 - Note Payable | Note 4 - Note Payable In December 2016, the Company issued a $20,000 8% Senior note with 40,000 warrants exercisable at $0.50 per share. The note matures on December 9, 2017, and accrued interest was $491 for the year ended March 31, 2017. The fair value of the warrants was $9,514, and was reported as a debt discount with amortization of $2,303 for the year ended March 31, 2017. The note payable balance net of the discount as of March 31, 2017 was $12,789. |
Note 5 - Stockholders' Equity
Note 5 - Stockholders' Equity | 12 Months Ended |
Mar. 31, 2017 | |
Notes | |
Note 5 - Stockholders' Equity | The Company is authorized to issue 3,000,000 Shares of our Series “A” Convertible Preferred Stock, $0.001 par value per share (the “Preferred Stock”). The Stated Value of the Preferred Stock is $5.00 per Share (the “Stated Value”). Each Share of Preferred Stock bears an eight percent (8%) cumulative dividend (the “Dividend”), due and payable quarterly as of July 31, October 31, January 31 and April 30. The Company records cumulative dividends whether or not declared. Each share may be converted by the holder thereof, at any time, into one share of the Company’s common stock, par value $0.001 per share (the “Common Stock”) and one warrant exercisable at $6.50 per share into one share of the Company’s common stock (the “Warrant”). The Company may force conversion to common stock and one warrant if the Company’s common stock trades over $7.00 for forty-five consecutive trading days. During the years ended March 31, 2017 and 2016, the Company had deemed dividends of $72,800 and $72,800. No dividends were declared or paid. Accumulated dividends in arrears as of March 31, 2017 is $194,266. Common stock The authorized common stock of the Company consists of 75,000,000 shares with par value of $0.001. During the year ended March 31, 2017, the Company issued 325,241 shares of common stock valued at $290,000, valued based on the price at close on the last trading day of each month which services were rendered for compensation and services as follows: · · During the year ended March 31, 2017, consulting services totaling approximately $365,000 were accrued to common stock payable and are included in executive compensation and professional fees-related party in the consolidated statement of operations. During the year ended March 31, 2017, a related party converted advances totaling $115,000 to common stock at $1 per share, which was equivalent of the stock value on the date of conversion. During the year ended March 31, 2016, consulting services totaling $240,000 were accrued to common stock payable are included in Professional Fees in the consolidated statement of operations. As of March 31, 2017, there is $787,000 in common stock payable which is payable in 1,002,880 shares of common stock. For the year ended March 31, 2017, 40,000 warrants were issued in relation to a note payable for $20,000 and were valued at $9,514. In addition, 8,800 warrants were issued for professional services valued at $80, and are included in Professional fees in the consolidated statement of operations Net loss per common share Net loss per share is computed using the basic and diluted weighted average number of common shares outstanding during the period. The weighted-average number of common shares outstanding during each period is used to compute basic loss per share. Potential dilutive securities (stock options and warrants) have not been considered when their effect would be antidilutive. The potentially dilutive shares, including both stock options and warrants would have been 356,800 and 428,000 shares for the year ended March 31, 2017 and 2016. Options On April 28, 2014, the Company granted 308,000 options to purchase the Company’s common stock with a three year term and an exercise price of $1 for 108,000 options and $3 for 200,000 options, pursuant to the terms of the board of director’s agreement. The options were immediately vested and had a fair value of $1,179,395 as the grant date. The options were outstanding for the years ended March 31, 2017 and 2016. The fair value of each option granted is estimated on the date of grant using the Black-Scholes option valuation model that uses the assumptions noted in the following table. Expected volatilities were based on volatilities from similar companies given our limited trading history. The expected term of options granted is estimated at the contractual term as noted in the individual option agreements and represents the period of time that options granted are expected to be outstanding. The risk-free rate for the periods within the contractual life of the option is based on the U.S. Treasury bill rate in effect at the time of grant for treasury bills with maturity dates at the estimated term of the options. A summary of option activity as of March 31, 2017 and 2016, and changes during the year then ended are presented below: March 31, 2017 Expected volatility 190 % Expected dividends 0 Expected term (in years) 3.0 Risk-free rate 1.44 % A summary of warrant activity for the years ended March 31, 2017 and 2016 are presented below: Number of Warrants Weighted Average Exercise Price Balance at March 31, 2015 300000.00 $ 4.60 Granted - $ - Exercised - - Expired (180000.00) $ 4.73 Balance at March 31, 2016 120000.00 $ 4.40 Granted 48800.00 $ 0.51 Exercised - Expired (120000.00) $ 4.40 Balance at March 31, 2017 48800.00 $ 0.51 Warrants exercisable at March 31, 2017 48800.00 $ 0.51 |
Note 6 - Income Taxes
Note 6 - Income Taxes | 12 Months Ended |
Mar. 31, 2017 | |
Notes | |
Note 6 - Income Taxes | Note 6 - Income Taxes We did not provide any current or deferred U.S. Federal income tax provision or benefit for any of the periods presented because we have experienced operating losses since inception. Under ACS 740 “Income Taxes,” The Company has not taken a tax position that, if challenged, would have a material effect on the consolidated financial statements for the years ended March 31, 2017 and 2016, applicable under ACS 740. Net deferred tax assets consist of the following: March 31, 2017 March 31, 2016 Net operating loss carryforward $ (3,201,459 ) $ (2,775,214 ) Valuation allowance 3,201,459 2,775,214 March 31, 2017 March 31, 2016 Tax benefit at statutory rate $ (426,245 ) $ (306,668 ) Change in Valuation allowance 426,245 306,668 Tax expense $ - $ - The Company did not pay any income taxes during the years ended March 31, 2017 or 2016. The effective tax rate for the years ended March 31, 2017 and 2016 varies from the statutory rate primarily as a result of recording a valuation allowance. The net federal operating loss carry forward will expire in 2034. This carry forward may be limited upon the consummation of a business combination under IRC Section 381. |
Note 7 - Related Party Notes Pa
Note 7 - Related Party Notes Payable and Advances | 12 Months Ended |
Mar. 31, 2017 | |
Notes | |
Note 7 - Related Party Notes Payable and Advances | Note 7 – Related Party Notes Payable and Advances On November 28, 2012, the CE McMillan Family Trust (the "CE Trust") advanced the Company $100 to facilitate the opening of a new bank account in Irving, Texas. The trustee of the C.E. McMillan Family Trust is also the managing member of Cicerone Corporate Development, LLC ("Cicerone"). On September 4, 2013, we received a $750,000 Revolving Credit Note (the "Revolving Note") from Cicerone for operating expenses. The Revolving Note matured on February 1, 2015 and was extended to February 1, 2017 on the same terms and conditions and was reclassified to non-current liabilities. The note bears interest at the rate of LIBOR plus 2.75% per annum. On March 1, 2016 the revolving note was increased to $1,250,000. On July 6, 2016, the note was modified to include conversion of any amount of the debt to common stock at a conversion price of $1, which was the market value per share and an extension to June 30, 2018. At this time the amendment was considered debt extinguishment with only a nominal gain on extinguishment. On July 22, 2016 Cicerone converted $115,000 in advances to common stock. As of March 31, 2017 and 2016, the balance due was $799,607 and $656,338, respectively, with related accrued interest of $76,005 and $43,462, respectively. Interest expense related to this debt was $32,594 and $20,943 during the years ended March 31, 2017 and 2016, respectively. The Company has a consulting agreementwith Fidare to provide consulting services relating to corporate governance, accounting procedures and control and strategic planning. The managing member of Fidare is the C.E. McMillan Family Trust. Harry McMillan is trustee of the C.E. McMillan Family Trust. Fidare receives monthly compensation of shares of common stock valued at $10,000 based on the price at the close on the last trading day of each month. As of March 31, 2017, $150,000 was due in shares of common stock which is included in Common Shares Payable. For the years ended March 31, 2017 and 2016, the Company recorded $110,000 and $40,000, respectively, in consulting fees related to this agreement. A promissory note totaling $205,000, included in related party notes payable, for an executive consulting agreement was executed for the year ended March 31, 2017. The note bears interest at 4% and matures on April 1, 2019. Accrued interest as of March 31, 2017 and 2016 totaled $91 and $0, respectively. |
Note 8 - Commitments and Contin
Note 8 - Commitments and Contingencies | 12 Months Ended |
Mar. 31, 2017 | |
Notes | |
Note 8 - Commitments and Contingencies | Note 8 – Commitments and Contingencies As seen herein, the Company has filed a Victim Impact Statement with the U.S. District Court in Montana in the matter of U.S. v, Joseph Brent Loftis (CR 15-11-BU-DLC D. Mont.) seeking $38,800,000 in restitution from GNE and Jospeh Brent Loftis. Sentencing in the matter is scheduled for July 20, 2018. The Company has several consulting arrangements for services related to business development and accounting. The agreements were for hourly and monthly services for less than 6 month periods. |
Note 9 - Subsequent Events
Note 9 - Subsequent Events | 12 Months Ended |
Mar. 31, 2017 | |
Notes | |
Note 9 - Subsequent Events | Note 9 – Subsequent Events Effective July 1, 2017, the Company entered into a new Consulting Agreement with Fidare to provide consulting services relating to corporate governance, accounting procedures and control and strategic planning. The managing member of Fidare is the C.E. McMillan Family Trust. Harry McMillan is trustee of the C.E. McMillan Family Trust. Fidare receives monthly compensation of shares of common stock valued at $10,000 based on the price at the close on the last trading day of each month. On October 20, 2017, the Company received $30,000 for the purchase of 200,000 restricted common shares at $0.15 per share and 100,000 warrants at $.50 per share exercise price with a three-year term. On January 2, 2018, the Company converted a $20,000 promissory note’s principal and interest for 133,334 restricted common shares. On February 6, 2018, management signed a repayment agreement with a creditor related to its court approved judgment and bank account lien in the amount of $16,026. As of June 30, 2018, the Company has paid $15,434. During March, 2018, the Company received $50,000 from subscription agreements for the purchase of 333,335 restricted common shares and 250,000 warrants with a $0.50/share exercise price and three year maturity. During April 2018, the Company issued 422,000 shares in settlement of executive consulting expenses incurred during prior years. For the period ended March 31, 2018, the Company issued 1,215,641 shares for compensation expenses, and 832,988 shares for consulting expenses. On August 10, 2018 the Company was notified the government convicted Mr. Loftis, former executive of Great Northern Energy, to a forfeiture order of $1,662,749.10. Chief Judge Christensen futher ordered Loftis to pay $7,931,666.55 in restitution to the victims of his crimes. Rangeford Resources had filed a Victim Impact Statement “United States v. Joseph Brent Loftis CR-15-11-BU-DLC for restitution for its $700,000 cash investment and 7,400,000 shares of Rangeford Resources, Inc. Common stock was issued at a market price of $5.00/shares (contract date November 15, 2012) valued at $37,000,000. On August 14, 2018, Rangeford Resources’ board of directors unanimously approved to retire 7,400,000 shares of common stock (stock certificate #1044 dated January 30 ,2013) issued to Great Northern Energy, Inc. Great Northern Energy surrendered the stock certificate to the transfer agent on June 1, 2013 and wrote letters to the SEC an FINRA confirming the release of the stock certificate. However, management elected not retire the stock certificate at the request of federal law enforcement official pending the conviction and sentencing of Great North Energy’s Joseph Brent Loftis. |
Note 2 - Significant Accounti16
Note 2 - Significant Accounting Policies: Estimates (Policies) | 12 Months Ended |
Mar. 31, 2017 | |
Policies | |
Estimates | Estimates The preparation of consolidated financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. |
Note 2 - Significant Accounti17
Note 2 - Significant Accounting Policies: Cash and Cash Equivalents (Policies) | 12 Months Ended |
Mar. 31, 2017 | |
Policies | |
Cash and Cash Equivalents | Cash and Cash Equivalents The Company considers all highly liquid short-term investments with a maturity of three months or less and deposits in money market funds that are readily convertible to cash to be cash equivalents. Cash and cash equivalents were primarily concentrated in two financial institutions at March 31, 2017. The Company periodically assesses the financial condition of its financial institutions and considers any possible credit risk to be minimal. |
Note 2 - Significant Accounti18
Note 2 - Significant Accounting Policies: Income taxes (Policies) | 12 Months Ended |
Mar. 31, 2017 | |
Policies | |
Income taxes | Income taxes The Company accounts for income taxes under ASC 740 "Income Taxes" "Accounting for Income Taxes" “Accounting for Uncertainty in Income Taxes – an Interpretation of FASB Statement No.109.” |
Note 2 - Significant Accounti19
Note 2 - Significant Accounting Policies: Fair Value of Financial Instruments (Policies) | 12 Months Ended |
Mar. 31, 2017 | |
Policies | |
Fair Value of Financial Instruments | The hierarchy gives the highest priority to Level 1 measurements and the lowest priority to Level 3 measurements. Depending on the particular asset or liability, input availability can vary depending on factors such as product type, longevity of a product in the market and other particular transaction conditions. In some cases, certain inputs used to measure fair value may be categorized into different levels of the fair value hierarchy. For disclosure purposes under the accounting guidance, the lowest level that contains significant inputs used in the valuation should be chosen. |
Note 2 - Significant Accounti20
Note 2 - Significant Accounting Policies: Impairment of Long-Lived Assets (Policies) | 12 Months Ended |
Mar. 31, 2017 | |
Policies | |
Impairment of Long-Lived Assets | Impairment of Long-Lived Assets The Company reviews its long-lived assets and certain identifiable intangibles for impairment when events or changes in circumstances indicate that the carrying amount of the assets may not be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amounts of the assets to future net cash flows expected to be generated by the assets. If such assets are considered impaired, the impairment to be recognized is measured by the amount by which the carrying amount of the assets exceed the fair value of the assets based on estimated future cash flows. No impairment charges were recorded for the year ended March 31, 2017 and 2016. |
Note 2 - Significant Accounti21
Note 2 - Significant Accounting Policies: Earnings Per Share Information (Policies) | 12 Months Ended |
Mar. 31, 2017 | |
Policies | |
Earnings Per Share Information | Earnings Per Share Information FASB ASC 260, “ Earnings Per Share” |
Note 2 - Significant Accounti22
Note 2 - Significant Accounting Policies: Going Concern (Policies) | 12 Months Ended |
Mar. 31, 2017 | |
Policies | |
Going Concern | Going Concern The Company’s consolidated financial statements are prepared using generally accepted accounting principles in the United States of America applicable to a going concern which contemplates the realization of assets and liquidation of liabilities in the normal course of business. The Company has not yet established an ongoing source of revenues sufficient to cover its operating costs and expenses. The ability of the Company to continue operating is dependent on the Company obtaining adequate capital to fund operating losses until it becomes profitable. These factors raise substantial doubt regarding the Company’s ability to continue as a going concern. If the Company is unable to obtain adequate capital, it could be forced to cease operations. In order to continue as a going concern, the Company will need, among other things, additional capital resources. Management’s plan is to obtain such resources for the Company by obtaining capital from management and significant shareholders sufficient to meet its minimal operating expenses and seeking equity and/or debt financing. However management cannot provide any assurances that the Company will be successful in accomplishing any of its plans. The ability of the Company to continue as a going concern is dependent upon its ability to successfully accomplish the plans described in the preceding paragraph and eventually secure other sources of financing and attain profitable operations. The accompanying consolidated financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern. |
Note 2 - Significant Accounti23
Note 2 - Significant Accounting Policies: Recently Adopted Accounting Pronouncements (Policies) | 12 Months Ended |
Mar. 31, 2017 | |
Policies | |
Recently Adopted Accounting Pronouncements | Recently Adopted Accounting Pronouncements In March 2016, the FASB issued Accounting Standards Update No. 2016-09: Compensation – Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting (ASU 2016-09). ASU 2016-09 is part of an initiative to reduce complexity in accounting standards. The areas of simplification in ASU 2016-09 involve several aspects of accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. For public entities, ASU 2016-09 is effective for consolidated financial statements issued for fiscal years beginning after December 15, 2016, including interim periods within those fiscal years; early application is permitted. The provisions of this accounting update did not have a material impact on the Company’s financial position, results of operations or cash flows. In February 2016, the FASB issued Accounting Standards Update No. 2016-02: Leases (Topic 842) (ASU 2016-02). The main objective of ASU 2016-02 is to increase transparency and comparability among organizations by recognizing lease assets and lease liabilities on the balance sheet and disclosing key information about leasing arrangements. The main difference between previous GAAP and Topic 842 is the recognition of lease assets and lease liabilities by lessees for those leases classified as operating leases. ASU 2016-02 requires lessees to recognize assets and liabilities arising from leases on the balance sheet. In transition, lessees and lessors are required to recognize and measure leases at the beginning of the earliest period presented using a modified retrospective approach. For public entities, ASU 2016-02 is effective for consolidated financial statements issued for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years; early application is permitted. The provisions of this accounting update are not expected to have a material impact on the Company’s financial position, results of operations or cash flows. In August 2016, the FASB issued ASU No. 2016-15, Statement of Cash Flows (Topic 230), which is intended to reduce diversity in practice in how certain transactions are classified in the statement of cash flows. The guidance addresses eight specific cash flow issues for which current GAAP is either unclear or does not include specific guidance. The guidance is effective for annual periods beginning after December 15, 2017 and interim periods within those annual periods. Early adoption is permitted, provided that all of the amendments are adopted in the same period. This ASU must be adopted using a retrospective transition method. The Company plans to adopt this guidance effective March 31, 2018. The Company has not identified any changes to this guidance that upon adoption will have a material effect on its cash flows. |
Note 5 - Stockholders' Equity_
Note 5 - Stockholders' Equity: Schedule Of Stock Options (Tables) | 12 Months Ended |
Mar. 31, 2017 | |
Tables/Schedules | |
Schedule Of Stock Options | Options Number of Options Weighted Average Exercise Price Weighted Average Remaining Contractual Term (in years) Aggregate Intrinsic Value Outstanding March 31, 2015 308,000 $ 2.299 2.3 $ - Granted, exercised, expired - $ - - - Outstanding and exercisable March 31, 2016 308,000 $ 2.299 1.08 $ - Granted, exercised, expired - $ - - - Outstanding and exercisable March 31, 2017 308,000 $ 2.299 0.08 $ - |
Note 5 - Stockholders' Equity25
Note 5 - Stockholders' Equity: Schedule Of Assumptions (Tables) | 12 Months Ended |
Mar. 31, 2017 | |
Tables/Schedules | |
Schedule Of Assumptions | March 31, 2017 Expected volatility 190 % Expected dividends 0 Expected term (in years) 3.0 Risk-free rate 1.44 % |
Note 5 - Stockholders' Equity26
Note 5 - Stockholders' Equity: Schedule Of Warrants (Tables) | 12 Months Ended |
Mar. 31, 2017 | |
Tables/Schedules | |
Schedule Of Warrants | A summary of warrant activity for the years ended March 31, 2017 and 2016 are presented below: Number of Warrants Weighted Average Exercise Price Balance at March 31, 2015 300000.00 $ 4.60 Granted - $ - Exercised - - Expired (180000.00) $ 4.73 Balance at March 31, 2016 120000.00 $ 4.40 Granted 48800.00 $ 0.51 Exercised - Expired (120000.00) $ 4.40 Balance at March 31, 2017 48800.00 $ 0.51 Warrants exercisable at March 31, 2017 48800.00 $ 0.51 |
Note 6 - Income Taxes_ Schedule
Note 6 - Income Taxes: Schedule Of Deferred Tax (Tables) | 12 Months Ended |
Mar. 31, 2017 | |
Tables/Schedules | |
Schedule Of Deferred Tax | Net deferred tax assets consist of the following: March 31, 2017 March 31, 2016 Net operating loss carryforward $ (3,201,459 ) $ (2,775,214 ) Valuation allowance 3,201,459 2,775,214 Net deferred tax asset $ - $ - |
Note 6 - Income Taxes_ Schedu28
Note 6 - Income Taxes: Schedule Of Tax Reconciliation (Tables) | 12 Months Ended |
Mar. 31, 2017 | |
Tables/Schedules | |
Schedule Of Tax Reconciliation | March 31, 2017 March 31, 2016 Tax benefit at statutory rate $ (426,245 ) $ (306,668 ) Change in Valuation allowance 426,245 306,668 Tax expense $ - $ - |
Note 1 -Nature of Business (Det
Note 1 -Nature of Business (Details) | 12 Months Ended |
Mar. 31, 2017 | |
Entity Incorporation, Date of Incorporation | Dec. 4, 2007 |
Cherryvale Kansas, LLC | |
Entity Incorporation, Date of Incorporation | Dec. 26, 2016 |
Note 3 - Agreement to Purchas30
Note 3 - Agreement to Purchase Oil and Gas Properties (Details) - shares | Dec. 26, 2016 | Jun. 01, 2015 | Nov. 15, 2012 | Mar. 31, 2017 |
Dog Day, Inc | ||||
Lessee, Finance Lease, Description | acquisition of certain oil and gas leases covering approximately 800 gross acres of land and DDI’s interest in approximately 53 wells | |||
Great Northern Energy, Inc | ||||
Stock Issued During Period, Shares, Acquisitions | 7,400,000 | |||
Shares, Outstanding | 7,400,000 | |||
Black Gold Kansas Production, LLC | ||||
Working Interest | 30.00% | |||
Revenue Interest | 26.25% | |||
Business Acquisition, Percentage of Voting Interests Acquired | 75.00% |
Note 4 - Note Payable (Details)
Note 4 - Note Payable (Details) - USD ($) | Dec. 01, 2016 | Apr. 28, 2014 | Mar. 31, 2017 |
Details | |||
Debt Instrument, Face Amount | $ 20,000 | ||
Debt Instrument, Interest Rate, Stated Percentage | 8.00% | ||
Class of Warrant or Right, Outstanding | 40,000 | 40,000 | |
Investment Warrants, Exercise Price | $ 0.50 | ||
Debt Instrument, Maturity Date | Dec. 9, 2017 | ||
Interest Payable | $ 491 | ||
Warrants fair value | $ 1,179,395 | 9,514 | |
Amortization of Debt Discount (Premium) | 2,303 | ||
Long-term Debt, Gross | $ 12,789 |
Note 5 - Stockholders' Equity (
Note 5 - Stockholders' Equity (Details) - USD ($) | Dec. 01, 2016 | Apr. 28, 2014 | Mar. 31, 2017 | Mar. 31, 2016 | Mar. 31, 2015 |
Preferred Stock, Shares Authorized | 3,000,000 | 3,000,000 | |||
Preferred Stock, Par or Stated Value Per Share | $ 0.001 | $ 0.001 | |||
Preferred Stock Dividends, Income Statement Impact | $ 72,800 | $ 72,800 | |||
Common Stock, Par or Stated Value Per Share | $ 0.001 | $ 0.001 | |||
Investment Warrants, Exercise Price | $ 0.50 | ||||
Common Stock, Shares Authorized | 75,000,000 | 75,000,000 | |||
Shares Issued for Services, Value | $ 655,000 | $ 240,000 | |||
Total stockholders' deficit | $ (2,338,612) | (1,966,544) | $ (1,304,578) | ||
Class of Warrant or Right, Outstanding | 40,000 | 40,000 | |||
Proceeds from Senior Note payable | $ 20,000 | 0 | |||
Warrants fair value | $ 1,179,395 | 9,514 | |||
Professional fees | 107,459 | $ 794,340 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 308,000 | ||||
Total value | |||||
Shares Issued for Services, Value | $ 290,000 | ||||
Professional fees | |||||
Class of Warrant or Right, Outstanding | 8,800 | ||||
Professional fees | $ 80 | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 356,800 | 428,000 | |||
Exercise 1 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 108,000 | ||||
Investment Options, Exercise Price | $ 1 | ||||
Exercise 2 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 200,000 | ||||
Investment Options, Exercise Price | $ 3 | ||||
Preferred Stock | |||||
Shares Issued for Services, Value | $ 0 | $ 0 | |||
Total stockholders' deficit | $ 182 | 182 | 182 | ||
Common Stock | |||||
Common Stock, Par or Stated Value Per Share | $ 0.001 | ||||
Investment Warrants, Exercise Price | $ 6.50 | ||||
Common Stock, Shares Authorized | 75,000,000 | ||||
Shares Issued for Services | 325,241 | ||||
Shares Issued for Services, Value | $ 325 | 0 | |||
Advances converted to common stock | 115,000 | ||||
Debt Instrument, Convertible, Conversion Price | $ 1 | ||||
Total stockholders' deficit | $ 20,545 | 20,105 | 20,105 | ||
Common Stock | Executive compensation | |||||
Shares Issued for Services | 125,241 | ||||
Shares Issued for Services, Value | $ 110,000 | ||||
Allocated Share-based Compensation Expense | $ 332,000 | ||||
Common Stock | Professional fees | |||||
Shares Issued for Services | 200,000 | ||||
Shares Issued for Services, Value | $ 180,000 | ||||
Common stock payable | |||||
Shares Issued for Services, Value | 365,000 | 240,000 | |||
Total stockholders' deficit | $ 787,000 | 320,000 | $ 80,000 | ||
Common Stock, Capital Shares Reserved for Future Issuance | 1,002,880 | ||||
Series A Preferred Stock | |||||
Preferred Stock, Par or Stated Value Per Share | $ 0.001 | ||||
Dividends, Preferred Stock | $ 72,800 | ||||
Series A Preferred Stock | Preferred Stock | |||||
Preferred Stock, Shares Authorized | 3,000,000 | ||||
Preferred Stock Dividends, Income Statement Impact | $ 5 | ||||
Preferred Stock, Dividend Rate, Percentage | 8.00% | ||||
Common Stock, Terms of Conversion | Each share may be converted by the holder thereof, at any time, into one share of the Company’s common stock, par value $0.001 per share (the “Common Stock”) and one warrant exercisable at $6.50 per share into one share of the Company’s common stock (the “Warrant”). | ||||
Dividends, Preferred Stock | $ 72,800 | ||||
Preferred Stock, Amount of Preferred Dividends in Arrears | $ 194,266 |
Note 5 - Stockholders' Equity33
Note 5 - Stockholders' Equity: Schedule Of Stock Options (Details) - USD ($) | Mar. 31, 2017 | Mar. 31, 2016 | Mar. 31, 2015 | Mar. 31, 2017 | Mar. 31, 2016 | Mar. 31, 2017 | Mar. 31, 2016 | Mar. 31, 2015 |
Details | ||||||||
Shares outstanding | 308,000 | 308,000 | 308,000 | |||||
Outstanding, Weighted Average Exercise Price | $ 2.299 | $ 2.299 | $ 2.299 | $ 2.299 | $ 2.299 | $ 2.299 | $ 2.299 | $ 2.299 |
Outstanding, Weighted Average Remaining Contractual Term | 29 days | 1 year 29 days | 2 years 3 months 18 days | |||||
Aggregate Intrinsic Value | $ 0 | $ 0 | $ 0 | |||||
Granted | 0 | 0 | ||||||
Granted, Weighted Average Exercise Price | $ 0 | $ 0 | ||||||
Granted, Intrinsic value | 0 | 0 | ||||||
Outstanding, Weighted Average Exercise Price | $ 2.299 | $ 2.299 | $ 2.299 | $ 2.299 | $ 2.299 |
Note 5 - Stockholders' Equity34
Note 5 - Stockholders' Equity: Schedule Of Assumptions (Details) - Note Warrant | 12 Months Ended |
Mar. 31, 2017USD ($) | |
Expected volatility | 190.00% |
Expected dividends | 0.00% |
Expected term (in years) | $ 3 |
Risk-free rate | 1.44% |
Note 5 - Stockholders' Equity35
Note 5 - Stockholders' Equity: Schedule Of Warrants (Details) - $ / shares | 12 Months Ended | ||||
Mar. 31, 2017 | Mar. 31, 2016 | Mar. 31, 2017 | Mar. 31, 2016 | Mar. 31, 2015 | |
Shares outstanding | 308,000 | 308,000 | 308,000 | ||
Outstanding, Weighted Average Exercise Price | $ 2.299 | $ 2.299 | $ 2.299 | $ 2.299 | $ 2.299 |
Granted | 0 | 0 | |||
Granted, Weighted Average Exercise Price | $ 0 | $ 0 | |||
Outstanding, Weighted Average Exercise Price | 2.299 | 2.299 | |||
Note Warrant | |||||
Shares outstanding | 48,800 | 120,000 | 300,000 | ||
Outstanding, Weighted Average Exercise Price | $ 0.51 | $ 4.40 | $ 0.51 | $ 4.40 | $ 4.60 |
Granted | 48,800 | 0 | |||
Granted, Weighted Average Exercise Price | $ 0.51 | $ 0 | |||
Granted | 0 | 0 | |||
Expired, shares | (120,000) | (180,000) | |||
Expired, price | $ 4.40 | $ 4.73 | |||
Outstanding, Weighted Average Exercise Price | $ 0.51 | $ 4.40 | |||
Exercisable, shares | 48,800 | ||||
Exercisable, price | $ 0.51 |
Note 6 - Income Taxes_ Schedu36
Note 6 - Income Taxes: Schedule Of Deferred Tax (Details) - USD ($) | Mar. 31, 2017 | Mar. 31, 2016 |
Details | ||
Net operating loss carryforward | $ (3,201,459) | $ (2,775,214) |
Valuation allowance | 3,201,459 | 2,775,214 |
Net deferred tax asset | $ 0 | $ 0 |
Note 6 - Income Taxes (Details)
Note 6 - Income Taxes (Details) | 12 Months Ended |
Mar. 31, 2017 | |
Details | |
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 34.00% |
Note 6 - Income Taxes_ Schedu38
Note 6 - Income Taxes: Schedule Of Tax Reconciliation (Details) - USD ($) | 12 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Details | ||
Tax benefit at statutory rate | $ 426,245 | $ 306,668 |
Change in Valuation allowance | 426,245 | 306,668 |
Provision for income tax | $ 0 | $ 0 |
Note 7 - Related Party Notes 39
Note 7 - Related Party Notes Payable and Advances (Details) - USD ($) | Jul. 22, 2016 | Sep. 04, 2013 | Mar. 31, 2017 | Mar. 31, 2016 | Dec. 01, 2016 | Jul. 06, 2016 | Mar. 01, 2016 | Nov. 28, 2012 |
Related party advances | $ 100 | $ 100 | $ 100 | |||||
Issuance of 115,000 shares of common stock in exchange for related party notes payable | 115,000 | 0 | ||||||
Long-term Debt, Gross | 12,789 | |||||||
Interest Payable | 491 | |||||||
Interest expense | 35,478 | 20,943 | ||||||
Professional fees | 107,459 | 794,340 | ||||||
Debt Instrument, Interest Rate, Stated Percentage | 8.00% | |||||||
Fidare | Common stock payable | ||||||||
Issuance of 115,000 shares of common stock in exchange for related party notes payable | 150,000 | |||||||
Professional fees | 110,000 | 40,000 | ||||||
Revolving Note | Cicerone | ||||||||
Loans and Leases Receivable, Gross, Consumer, Revolving, Other | $ 750,000 | |||||||
Debt Instrument, Payment Terms | Revolving Note matured on February 1, 2015 and was extended to February 1, 2017 on the same terms and conditions and was reclassified to non-current liabilities. The note bears interest at the rate of LIBOR plus 2.75% per annum. | |||||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 1,250,000 | |||||||
Debt Instrument, Convertible, Conversion Price | $ 1 | |||||||
Issuance of 115,000 shares of common stock in exchange for related party notes payable | $ 115,000 | |||||||
Long-term Debt, Gross | 799,607 | 656,338 | ||||||
Interest Payable | 76,005 | 43,462 | ||||||
Interest expense | 32,594 | 20,943 | ||||||
Promissory note | ||||||||
Notes Payable, Related Parties | $ 205,000 | |||||||
Debt Instrument, Interest Rate, Stated Percentage | 4.00% | |||||||
Interest Payable, Current | $ 91 | $ 0 |
Note 9 - Subsequent Events (Det
Note 9 - Subsequent Events (Details) - USD ($) | Aug. 14, 2018 | Aug. 10, 2018 | Jun. 30, 2018 | Apr. 01, 2018 | Mar. 01, 2018 | Feb. 06, 2018 | Jan. 02, 2018 | Oct. 20, 2017 | Jul. 01, 2017 | Dec. 01, 2016 | Mar. 31, 2017 | Mar. 31, 2016 |
Class of Warrant or Right, Outstanding | 40,000 | 40,000 | ||||||||||
Issuance of 115,000 shares of common stock in exchange for related party notes payable | $ 115,000 | $ 0 | ||||||||||
Investment Warrants, Exercise Price | $ 0.50 | |||||||||||
Professional fees | ||||||||||||
Class of Warrant or Right, Outstanding | 8,800 | |||||||||||
Common Stock | ||||||||||||
Investment Warrants, Exercise Price | $ 6.50 | |||||||||||
Shares Issued for Services | 325,241 | |||||||||||
Common Stock | Executive compensation | ||||||||||||
Shares Issued for Services | 125,241 | |||||||||||
Common Stock | Professional fees | ||||||||||||
Shares Issued for Services | 200,000 | |||||||||||
Subsequent Event | ||||||||||||
Stock Issued During Period, Shares, Other | 422,000 | |||||||||||
Subsequent Event | Series 2 | ||||||||||||
Stock Issued During Period, Value, New Issues | $ 50,000 | |||||||||||
Stock Issued During Period, Shares, New Issues | 333,335 | |||||||||||
Class of Warrant or Right, Outstanding | 250,000 | |||||||||||
Investment Warrants, Exercise Price | $ 0.50 | |||||||||||
Subsequent Event | Executive compensation | ||||||||||||
Shares Issued for Services | 1,215,641 | |||||||||||
Subsequent Event | Professional fees | ||||||||||||
Shares Issued for Services | 832,988 | |||||||||||
Subsequent Event | Promissory note | ||||||||||||
Issuance of 115,000 shares of common stock in exchange for related party notes payable | $ 20,000 | |||||||||||
Subsequent Event | Promissory note | Common Stock | ||||||||||||
Debt Conversion, Converted Instrument, Shares Issued | 133,334 | |||||||||||
Subsequent Event | Bank account lien | ||||||||||||
Issuance of 115,000 shares of common stock in exchange for related party notes payable | $ 16,026 | |||||||||||
Repayments of Bank Debt | $ 15,434 | |||||||||||
Fidare | ||||||||||||
Stock Issued During Period, Shares, New Issues | 200,000 | |||||||||||
Fidare | Subsequent Event | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost | $ 10,000 | |||||||||||
Stock Issued During Period, Value, New Issues | $ 30,000 | |||||||||||
Shares Issued, Price Per Share | $ 0.15 | |||||||||||
Fidare | Subsequent Event | Note Warrant | ||||||||||||
Class of Warrant or Right, Outstanding | 100,000 | |||||||||||
Loftis | Subsequent Event | ||||||||||||
Loss Contingency, Damages Sought, Value | $ 7,931,666.55 | |||||||||||
Great Northern Energy, Inc | Subsequent Event | ||||||||||||
Stock Repurchased and Retired During Period, Shares | 7,400,000 |