Document_and_Entity_Informatio
Document and Entity Information | 3 Months Ended |
Jun. 30, 2014 | |
Document and Entity Information: | ' |
Entity Registrant Name | 'Rangeford Resources, Inc. |
Document Type | '10-Q |
Document Period End Date | 30-Jun-14 |
Amendment Flag | 'true |
Entity Central Index Key | '0001438035 |
Current Fiscal Year End Date | '--03-31 |
Entity Common Stock, Shares Outstanding | 19,861,077 |
Entity Filer Category | 'Smaller Reporting Company |
Entity Current Reporting Status | 'No |
Entity Voluntary Filers | 'No |
Entity Well-known Seasoned Issuer | 'No |
Document Fiscal Year Focus | '2015 |
Document Fiscal Period Focus | 'Q1 |
Amendment Description | 'Rangeford Resources, Inc. (the “Company”) is filing this Amendment No. 1 on Form 10-Q/A (the “Amendment”) to the Company’s quarterly report on Form 10-Q for the period ended June 30, 2014 (the “Form 10-Q”), filed with the Securities and Exchange Commission on September 19, 2014 (the “Original Filing Date”), solely to file Exhibit 101 to the Form 10-Q in accordance with Rule 405 of Regulation S-T. Exhibit 101 consists of the following materials from the Company’s Form 10-Q, formatted in XBRL (eXtensible Business Reporting Language): |
Rangeford_Resources_Inc_Balanc
Rangeford Resources, Inc. - Balance Sheets (USD $) | Jun. 30, 2014 | Mar. 31, 2014 | ||
Current Assets: | ' | ' | ||
Cash | $1,128 | $173 | ||
Debt Issuance Cost- net of amortization | 74,333 | 101,271 | ||
TOTAL CURRENT ASSETS | 75,461 | 101,444 | ||
Deposit | 36,557 | [1] | 36,557 | [1] |
Total Assets | 112,018 | 138,001 | ||
Current Liabilities: | ' | ' | ||
Accounts payable | 573,000 | 546,047 | ||
Accrued interest payable | 10,168 | 6,872 | ||
Related party advances and notes payable | 459,802 | 368,226 | ||
TOTAL CURRENT LIABILITIES | 1,042,970 | 921,145 | ||
Stockholders' Deficit | ' | ' | ||
Series A Convertible Preferred Stock | 182 | [2] | 182 | [2] |
Common Stock | 19,861 | [3] | 19,833 | [3] |
Additional paid-in capital | 5,513,361 | 3,826,914 | ||
Deficit accumulated during the development stage | -6,464,356 | -4,630,073 | ||
Total Stockholders' Deficit | -930,952 | -783,144 | ||
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT | $112,018 | $138,001 | ||
[1] | See Note 3 | |||
[2] | $0.001 par value; stated value $5.00 per share; 3,000,0000 shares authorized; 182,000 and 162,000 shares issued and outstanding, respectively. | |||
[3] | $0.001 par value; 75,000,000 shares authorized; 19,861,007 and 18,833,385 shares issued and outstanding, respectively. |
Statement_of_Financial_Positio
Statement of Financial Position - Parenthetical (USD $) | Jun. 30, 2014 | Mar. 31, 2014 |
Statement of Financial Position | ' | ' |
Common Stock, Par Value | $0.00 | $0.00 |
Common Stock, Shares Authorized | 75,000,000 | 75,000,000 |
Common Stock, Shares Issued | 19,861,077 | 18,833,385 |
Common Stock, Shares Outstanding | 18,861,077 | 18,833,385 |
Preferred Stock, Par Value | $0.00 | $0.00 |
Preferred Stock, Shares Authorized | 3,000,000 | 3,000,000 |
Preferred Stock, Shares Issued | 182,000 | 162,000 |
Preferred Stock, Shares Outstanding | 182,000 | 162,000 |
Rangeford_Resources_Inc_Statem
Rangeford Resources, Inc. - Statements of Operations (USD $) | 3 Months Ended | |
Jun. 30, 2014 | Jun. 30, 2013 | |
OPERATING EXPENSES | ' | ' |
Investor relations | ' | $15,131 |
Professional fees | 1,526,334 | 56,183 |
Professional fees, related party | 253,540 | 162,090 |
General and administrative | 24,176 | 34,788 |
TOTAL OPERATING EXPENSES | 1,804,050 | 268,192 |
Loss from operations | -1,804,050 | -268,192 |
OTHER EXPENSE | ' | ' |
Interest expense | 30,233 | 3,175 |
Total other expense | 30,233 | 3,175 |
Loss before income taxes | -1,834,283 | -271,367 |
Provision for income taxes | ' | ' |
Net loss | -1,834,283 | -271,367 |
Preferred stock dividends | ' | ' |
Net loss attributable to common shareholders | ($1,834,283) | ($271,367) |
Per share information: | ' | ' |
Basic and diluted loss per common share | ($0.09) | ($0.01) |
Weighted average shares outstanding | 19,844,763 | 18,139,778 |
Rangeford_Resources_Inc_Statem1
Rangeford Resources, Inc. - Statements of Cash Flows (USD $) | 3 Months Ended | |
Jun. 30, 2014 | Jun. 30, 2013 | |
Cash flows from Operating Activities | ' | ' |
Net loss | ($1,834,283) | ($271,367) |
Adjustments to reconcile net loss to net cash used in operating activities: | ' | ' |
Common stock issued for services | 120,000 | 119,890 |
Amortization of debt discount | 26,938 | ' |
Warrant expense | 387,080 | ' |
Option expense | 1,179,395 | ' |
Prepaid expenses | ' | 8,125 |
Accounts payable | 26,953 | 57,215 |
Accrued interest payable | 3,296 | 3,175 |
Net cash used in operating activities | -90,621 | -82,962 |
Cash Flows From Financing Activities | ' | ' |
Proceeds from related party payable | 91,576 | 85,117 |
Net cash provided by financing activities | 91,576 | 85,117 |
Net increase in cash | 955 | 2,155 |
Cash, Beginning of Period | 173 | ' |
Cash, End of Period | 1,128 | 2,155 |
Supplemental Cash Flow Information: | ' | ' |
Cash paid for interest | ' | ' |
Cash paid for income taxes | ' | ' |
Note_1_Condensed_Financial_Sta
Note 1 - Condensed Financial Statements | 3 Months Ended |
Jun. 30, 2014 | |
Notes | ' |
Note 1 - Condensed Financial Statements | ' |
NOTE 1 – CONDENSED FINANCIAL STATEMENTS | |
The accompanying unaudited consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the US (US GAAP) for interim financial information, with the instructions to Form 10-Q, and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and notes required by US GAAP for complete financial statements. The accompanying financial statements at June 30, 2014 and 2013 and for the three months ended June 30, 2014 and 2013 contain all normally recurring adjustments considered necessary for a fair presentation of our financial position, results of operations, cash flows and shareholders’ equity for such periods. Operating results for the three months ended June 30, 2014 are not necessarily indicative of the results that may be expected for the year ending March 31, 2015. |
Note_2_Going_Concern
Note 2 - Going Concern | 3 Months Ended |
Jun. 30, 2014 | |
Notes | ' |
Note 2 - Going Concern | ' |
NOTE 2 – GOING CONCERN | |
The Company’s 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 allow it to continue as a going concern. The ability of the Company to continue as a going concern is dependent on the Company obtaining adequate capital to fund operating losses until it becomes profitable. 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 financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern. |
Note_3_Recent_Accounting_Prono
Note 3 - Recent Accounting Pronouncements | 3 Months Ended |
Jun. 30, 2014 | |
Notes | ' |
Note 3 - Recent Accounting Pronouncements | ' |
NOTE 3 – RECENT ACCOUNTING PRONOUNCEMENTS | |
On June 10, 2014, FASB issued Accounting Standards Update No. 2014-10, Development Stage Entities. The update removes the definition of a development stage entity from FASB ASC 915 and eliminates the requirement for development stage entities to present inception-to-date information on the statements of operations, cash flows and stockholders’ deficit. Earlier the Company elect to adopt this standard for the period covered by the report herein. |
Note_4_Related_Party_Notes_Pay
Note 4 - Related Party Notes Payable and Advances | 3 Months Ended |
Jun. 30, 2014 | |
Notes | ' |
Note 4 - Related Party Notes Payable and Advances | ' |
Note 4 – Related Party Notes Payable and Advances | |
On November 1, 2012, the Company entered into a note agreement with a shareholder/director of the Company, pursuant to which the Company borrowed $100,000 from the shareholder which was payable in 60 days with interest at 6% per annum (the “Hadley Note”). Proceeds from the Hadley Note were paid directly to GNE as a deposit to purchase certain oil and gas assets (see Note 3). The Hadley Note was payable in 60 days with interest at 6% per annum. In accordance with the terms of the note, the Company agreed to issue 250,000 shares of unregistered common stock to the shareholder. The shares of unregistered common stock had a relative fair value of approximately $71,631 as of November 1, 2012, which was recorded as additional interest expense over the 60 day term of the note. As of June 30, 2014, all 250,000 shares were issued to Hadley. | |
Upon the Company’s receipt of a Subscription Agreement and request to convert same from Mr. Hadley, on September 27, 2013, the Company’s Board of Directors approved via unanimous written consent to convert the Hadley Note into 20,000 shares of the Company’s Series A Preferred Stock in connection with a Subscription Agreement and request for such conversion from Mr. Hadley; on the same day, 20,000 shares of Series A Preferred Stock were issued to Mr. Hadley. Pursuant to the conversion of the Hadley Note, the Company would not have any further liability to Mr. Hadley thereunder. Mr. Hadley has informed the Company that he does not agree with the history and current status of the Hadley Note and therefore the parties are currently discussing a resolution. | |
No gain or loss will be recognized on settlement of the debt because the fair value of the preferred stock issued is equal to the carrying value of the debt. The Company recognized and measured an aggregate of $64,632 of the proceeds, which is equal to the intrinsic value of the embedded beneficial conversion feature, to additional paid-in capital and a discount against the Preferred Stock. The preferred stock discount of $64,632, attributed to the beneficial conversion feature, is recognized as a deemed preferred stock dividend, additionally the Company will recognize the value attributable to the warrants in the amount of $89,837 to additional paid in capital and a discount against the preferred stock upon the conversion of the preferred stock into warrants. | |
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 Fidare Consulting Group, LLC ("Fidare") and Cicerone Corporate Development, LLC ("Cicerone"). The advance had not been repaid as of June 30, 2014. (See Note 5) | |
At various times during the quarters ended June 30, 2014 and 2013, Cicerone Corporate Development, LLC (a related party) advanced funds to the Company for operating expenses. During the quarter ended June 30, 2014 and 2013, Cicerone advanced a total of $91,576 and $85,117, respectively to the company. Cicerone is a stockholder of the Company. (See Note 5) |
Note_5_Related_Party_Transacti
Note 5 - Related Party Transactions | 3 Months Ended |
Jun. 30, 2014 | |
Notes | ' |
Note 5 - Related Party Transactions | ' |
NOTE 5 – RELATED PARTY TRANSACTIONS | |
Harry McMillan is trustee of the C.E. McMillan Family Trust, which Trust serves as the managing member of Fidare Consulting Group, LLC (“Fidare”) and Cicerone Corporate Development, LLC (“Cicerone”). Mr. McMillan is the Trustee for the benefit of his wife, Christy McMillan and their children, and is also a member of each of Fidare and Cicerone. Each of these entities, as well as certain beneficiaries of the Trust, own shares of our common stock and therefore, Mr. McMillan and the Trust may be deemed to beneficially own such shares. Each disclaims beneficial ownership of such shares. | |
Professional Services | |
In September 2012, the Company entered into a professional services contract with Fidare Consulting Group, LLC (Fidare) to provide consulting services relating to corporate governance, accounting procedures and controls and strategic planning. In accordance with the terms of the original contract, Fidare receives monthly compensation of 20,000 common shares per month and warrants to purchase 20,000 common shares with an exercise price equal to the closing sale price of the Company’s common stock on the date of issuance, plus reasonable and necessary expenses. The warrants are exercisable at any time for two years from the date of issuance and may be settled on a net basis. In December 2012, the contract was amended to provide for monthly compensation of $20,000 per month plus warrants to purchase 20,000 common shares on the same terms described above. | |
The Consulting Agreement with Fidare was terminated on February 28, 2013 with an effective date of April 4, 2013. | |
On June 26, 2013, 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 In accordance with the terms of the Consulting Agreement, Fidare receives monthly compensation of shares of common stock valued at $20,000 based on the price at the close on the last trading day of each month and 20,000 warrants to purchase common stock, with each warrant having an exercise price equal to the closing sale price of the Common Stock on the date of issue and providing for a cashless or net issue exercise. | |
On July 1, 2014, the Consulting Agreement with Fidare was amended so Fidare will receive only monthly compensation shares of common stock valued at $20,000 based on the price at the close on the last trading day of each month. | |
As of June 30, 2014, 144,919 shares of common stock and 380,000 warrants had been issued to Fidare. As of August 19, 2014, 163,765 shares of common stock and 380,000 warrants have been issued to Fidare, pursuant to the terms of the contract. The managing member of Fidare is the C.E. McMillan Family Trust. Harry McMillan is trustee of the C.E. McMillan Family Trust. The company recognized $253,540 and $162,090 in professional fees to related parties for the three months ended June 30, 2014 and 2013, respectively. |
Note_6_Warrants
Note 6 - Warrants | 3 Months Ended | ||||
Jun. 30, 2014 | |||||
Notes | ' | ||||
Note 6 - Warrants | ' | ||||
NOTE 6 – WARRANTS | |||||
The fair value of each warrant 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 are based on volatilities from similar companies given our limited trading history. | |||||
The expected term of warrants granted is estimated at the contractual term as noted in the individual warrant agreements and represents the period of time that warrants granted are expected to be outstanding. The risk-free rate for the periods within the contractual life of the warrant 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 warrants. | |||||
A summary of warrant activity as of June 30, 2014 and changes during the period then ended are presented below: | |||||
Expected volatility | 207% | ||||
Expected dividends | 0 | ||||
Expected term (in years) | 2 | ||||
Risk-free rate | 0.42% | ||||
Stock Warrants | Number of Warrants | Weighted Average Exercise Price | Weighted Average Remaining Contractual Term (in years) | Aggregate Intrinsic Value | |
Balance: April 1, 2014 | 280,000 | $ 4.96 | 2.0 | $ 1,388,800 | |
Granted | 120,000 | $ 4.40 | 2 | $ 528,000 | |
Exercised | - | $ - | $ - | ||
Expired | - | - | - | ||
Balance: June 30, 2014 | 400,000 | $ 4.79 | 2 | $ 1,916,800 | |
Warrants exercisable end of quarter | 400,000 | $ 4.79 | 2 | $ 1,916,000 | |
Warrant expense of $193,540 was included in professional fees and $193,540 was included in professional fees-related party. Total warrant expense was $387,080 for the quarter ended June 30, 2014. |
Note_7_Options
Note 7 - Options | 3 Months Ended | ||||
Jun. 30, 2014 | |||||
Notes | ' | ||||
Note 7 - Options | ' | ||||
NOTE 7 – OPTIONS | |||||
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 are 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 June 30, 2014 and changes during the period then ended are presented below: | |||||
Expected volatility | 305% | ||||
Expected dividends | 0 | ||||
Expected term (in years) | 3 | ||||
Risk-free rate | fv0.90% | ||||
Stock Warrants | Number of Options | Weighted Average Exercise Price | Weighted Average Remaining Contractual Term (in years) | Aggregate Intrinsic Value | |
Balance: April 1, 2014 | - | $ - | $ - | ||
Granted | 308,000 | $ 2.29 | 2.0 | $ 708,000 | |
Exercised | - | - | - | ||
Expired | - | - | - | ||
Balance at end of quarter | 308,000 | $ 2.29 | 2.0 | $ 708,000 | |
Warrants exercisable end of quarter | 308,000 | $ 2.29 | 2.0 | $ 708,000 | |
Option expense of $1,179,395 was included in professional fees on the statement of operations for the quarter ended June 30, 2014. |
Note_8_Common_Stock
Note 8 - Common Stock | 3 Months Ended |
Jun. 30, 2014 | |
Notes | ' |
Note 8 - Common Stock | ' |
note 8 – common stock | |
During the quarter ended June 30, 2014, the Company issued Fidare Consulting Group 13,846 shares of common stock valued at $60,000. | |
During the quarter ended June 30, 2014, the Company issued Mr. Richardson 13,846 shares of common stock valued at $60,000. |
Note_9_Commitments_and_Conting
Note 9 - Commitments and Contingencies | 3 Months Ended |
Jun. 30, 2014 | |
Notes | ' |
Note 9 - Commitments and Contingencies | ' |
Note 9 – Commitments and Contingencies | |
We have recently become aware of a letter dated December 17, 2012 from Dr. Steven Henson to Michael Farmer, who at time was not a director or officer of Rangeford, with regard to our offering of up to $3,000,000 of our preferred stock in connection with our proposed acquisition of certain properties from Great Northern Energy, Inc. In the letter, Dr. Henson, who at the time was the President and Chairman of the Board of Rangeford, purports to grant a right of rescission to certain investors in the event that we were unable to raise the full amount of funds necessary to acquire the subject properties from Great Northern Energy. This right of rescission was never approved by our Board of Directors and it is our position that Dr. Henson acted without proper authority in providing the letter to Mr. Farmer, as the representative of certain investors. At this point no claim has been made by any of the investors, who invested approximately $300,000 in Rangeford and we have no reason to assume that a claim will ultimately be made. |
Note_10_Subsequent_Events
Note 10 - Subsequent Events | 3 Months Ended |
Jun. 30, 2014 | |
Notes | ' |
Note 10 - Subsequent Events | ' |
NOTE 10 – SUBSEQUENT EVENTS | |
Black Gold Kansas Production, LLC Transaction | |
On August 6, 2014, the Company executed a Purchase and Sale Agreement (the "PSA") with Black Gold Kansas Production, LLC, a Texas limited liability company (“BGKP”). Pursuant to the PSA, the Company shall receive an agreed upon percentage of the working and net revenue interest in and to the West Mule Creek oilfield, which is located in Wyoming. The total consideration provided for in the PSA is the Company’s payment to BGKP of the sum of $2,352,000. Although required by the terms of the PSA, the Company has not yet placed $15,000 in an escrow account, which upon closing shall be credited towards the Purchase Price. This transaction is expected to close in October 2014. | |
On July 1, 2014, the Consulting Agreement with Fidare was amended so Fidare will receive only monthly compensation shares of common stock valued at $20,000 based on the price at the close on the last trading day of each month. | |
On July 1, 2014, the Officer’s Agreement with Mr. Richardson was amended so that he will receive only monthly compensation shares of common stock valued at $20,000 based on the price at the close on the last trading day of each month. | |
On July 31, 2014, the Company authorized the issuance of 6,897 shares of common stock valued at $20,000 to Mr. Richardson pursuant to the terms of his Officer Agreement. | |
On July 31, 2014, the Company authorized the issuance of 6,897 shares of common stock valued at $20,000 to Fidare Consulting Group pursuant to the terms of its Consulting Agreement. | |
On August 7, 2014 the Company issued 38,686 shares valued at $61,511 in settlement of fees payable by the Company to Pt Platinum Consulting, LLC. | |
On August 7, 2014, the Company issued 39,699 shares valued $19,850 in partial payment of the company’s cumulative Series A Convertible Preferred stock dividend from the date of issuance through 07/31/13. | |
On August 7, 2014, the Company issued 20,707 shares valued $71,529 in partial payment of the company’s cumulative Series A Convertible Preferred stock dividend from 08/01/13 through 07/31/14. |
Note_6_Warrants_Schedule_of_De
Note 6 - Warrants: Schedule of Derivative Liabilities at Fair Value (Tables) | 3 Months Ended | |
Jun. 30, 2014 | ||
Tables/Schedules | ' | |
Schedule of Derivative Liabilities at Fair Value | ' | |
Expected volatility | 207% | |
Expected dividends | 0 | |
Expected term (in years) | 2 | |
Risk-free rate | 0.42% | |
Note_6_Warrants_Schedule_of_Sh
Note 6 - Warrants: Schedule of Share-based Compensation, Stock Options, Activity (Tables) | 3 Months Ended | ||||
Jun. 30, 2014 | |||||
Tables/Schedules | ' | ||||
Schedule of Share-based Compensation, Stock Options, Activity | ' | ||||
Stock Warrants | Number of Warrants | Weighted Average Exercise Price | Weighted Average Remaining Contractual Term (in years) | Aggregate Intrinsic Value | |
Balance: April 1, 2014 | 280,000 | $ 4.96 | 2.0 | $ 1,388,800 | |
Granted | 120,000 | $ 4.40 | 2 | $ 528,000 | |
Exercised | - | $ - | $ - | ||
Expired | - | - | - | ||
Balance: June 30, 2014 | 400,000 | $ 4.79 | 2 | $ 1,916,800 | |
Warrants exercisable end of quarter | 400,000 | $ 4.79 | 2 | $ 1,916,000 |
Note_7_Options_Stock_Option_Ac
Note 7 - Options: Stock Option Activity Table Text Block (Tables) | 3 Months Ended | |
Jun. 30, 2014 | ||
Tables/Schedules | ' | |
Stock Option Activity Table Text Block | ' | |
Expected volatility | 305% | |
Expected dividends | 0 | |
Expected term (in years) | 3 | |
Risk-free rate | fv0.90% | |
Note_4_Related_Party_Notes_Pay1
Note 4 - Related Party Notes Payable and Advances (Details) (USD $) | Jun. 30, 2014 | Mar. 31, 2014 | Jun. 30, 2014 | Sep. 27, 2013 | Nov. 01, 2012 | Nov. 28, 2012 | Jun. 30, 2014 | Jun. 30, 2013 | ||
Hadley Note | Hadley Note | Hadley Note | CE Trust | Cicerone | Cicerone | |||||
Due to Related Parties, Current | ' | ' | ' | ' | $100,000 | $100 | $91,576 | $85,117 | ||
Short-term Debt, Percentage Bearing Fixed Interest Rate | ' | ' | ' | ' | 6.00% | ' | ' | ' | ||
Common Stock, Other Shares, Outstanding | ' | ' | 250,000 | ' | 250,000 | ' | ' | ' | ||
Common Stock | 19,861 | [1] | 19,833 | [1] | ' | ' | 71,631 | ' | ' | ' |
Beneficial Conversion Feature | ' | ' | ' | 64,632 | ' | ' | ' | ' | ||
Preferred Stock, Discount on Shares | ' | ' | ' | 64,632 | ' | ' | ' | ' | ||
Additional paid-in capital | $5,513,361 | $3,826,914 | ' | $89,837 | ' | ' | ' | ' | ||
[1] | $0.001 par value; 75,000,000 shares authorized; 19,861,007 and 18,833,385 shares issued and outstanding, respectively. |
Note_5_Related_Party_Transacti1
Note 5 - Related Party Transactions (Details) (USD $) | 3 Months Ended | 3 Months Ended | |||||||||
Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2014 | Aug. 19, 2014 | Jul. 01, 2014 | Jun. 30, 2014 | Jun. 26, 2013 | Jun. 30, 2014 | |||
Fidare | Fidare | Fidare | Fidare | CE McMillan Family Trust | |||||||
Common Stock | $19,861 | [1] | ' | ' | $19,833 | [1] | ' | ' | ' | $20,000 | ' |
Set up fees. | ' | ' | ' | ' | 380,000 | ' | 380,000 | 20,000 | ' | ||
Other Deferred Compensation Arrangements, Liability, Current | ' | ' | ' | ' | ' | 20,000 | ' | ' | ' | ||
Common Stock, Shares Issued | 19,861,077 | ' | ' | 18,833,385 | 163,765 | ' | 144,919 | ' | ' | ||
Professional fees | $1,526,334 | $162,090 | $56,183 | ' | ' | ' | ' | ' | $253,540 | ||
[1] | $0.001 par value; 75,000,000 shares authorized; 19,861,007 and 18,833,385 shares issued and outstanding, respectively. |
Note_6_Warrants_Schedule_of_De1
Note 6 - Warrants: Schedule of Derivative Liabilities at Fair Value (Details) (Warrants) | 3 Months Ended |
Jun. 30, 2014 | |
Warrants | ' |
Fair Value Assumptions, Expected Volatility Rate | 207.00% |
Fair Value Assumptions, Expected Dividend Rate | 0.00% |
Fair Value Assumptions, Expected Term | '2 years |
Fair Value Assumptions, Risk Free Interest Rate | 0.42% |
Note_6_Warrants_Schedule_of_Sh1
Note 6 - Warrants: Schedule of Share-based Compensation, Stock Options, Activity (Details) (Warrants2, USD $) | 3 Months Ended | |
Jun. 30, 2014 | Apr. 02, 2014 | |
Warrants2 | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number | 400,000 | 280,000 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price | $4.79 | $4.96 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term | 2 | 2 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value | $1,916,800 | $1,388,800 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Net of Forfeitures | 120,000 | ' |
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | $4.40 | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Exercise Price | $4.79 | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value | $1,916,000 | ' |
Note_7_Options_Stock_Option_Ac1
Note 7 - Options: Stock Option Activity Table Text Block (Details) (Options) | 3 Months Ended |
Jun. 30, 2014 | |
Options | ' |
Fair Value Assumptions, Expected Volatility Rate | 305.00% |
Fair Value Assumptions, Expected Dividend Rate | 0.00% |
Fair Value Assumptions, Expected Term | '3 years |
Fair Value Assumptions, Risk Free Interest Rate | 0.00% |
Note_7_Options_Details
Note 7 - Options (Details) (USD $) | 3 Months Ended | |
Jun. 30, 2014 | Jun. 30, 2014 | |
Options2 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number | ' | 308,000 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price | ' | $2.29 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value | ' | $708,000 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Net of Forfeitures | ' | 308,000 |
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | ' | $2.29 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term | ' | 2 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Exercise Price | ' | $2.29 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value | ' | 708,000 |
Option expense | $1,179,395 | ' |
Note_8_Common_Stock_Details
Note 8 - Common Stock (Details) (USD $) | Jun. 30, 2014 | Mar. 31, 2014 |
Common Stock, Shares Authorized | 75,000,000 | 75,000,000 |
Fidare Consulting Group, LLC | ' | ' |
Common Stock, Shares Authorized | 13,846 | ' |
Common Stock, Other Value, Outstanding | 60,000 | ' |
Mr. Richardson | ' | ' |
Common Stock, Shares Authorized | 13,846 | ' |
Common Stock, Other Value, Outstanding | 60,000 | ' |
Note_9_Commitments_and_Conting1
Note 9 - Commitments and Contingencies (Details) (USD $) | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 17, 2012 | ||
Details | ' | ' | ' | ||
Series A Convertible Preferred Stock | $182 | [1] | $182 | [1] | $3,000,000 |
[1] | $0.001 par value; stated value $5.00 per share; 3,000,0000 shares authorized; 182,000 and 162,000 shares issued and outstanding, respectively. |
Note_10_Subsequent_Events_Deta
Note 10 - Subsequent Events (Details) (USD $) | Jun. 30, 2014 | Mar. 31, 2014 | Jul. 31, 2014 | Jul. 01, 2014 | Jul. 31, 2014 | Jul. 01, 2014 | ||
Fidare Consulting Group | Fidare Consulting Group | Colin Richardson | Colin Richardson | |||||
Common Stock | $19,861 | [1] | $19,833 | [1] | $20,000 | $20,000 | $20,000 | $20,000 |
Common Stock, Shares Issued | 19,861,077 | 18,833,385 | 6,897 | ' | 6,897 | ' | ||
[1] | $0.001 par value; 75,000,000 shares authorized; 19,861,007 and 18,833,385 shares issued and outstanding, respectively. |