Document and Entity Information
Document and Entity Information - USD ($) | 12 Months Ended | ||
Mar. 31, 2015 | Jun. 25, 2015 | Sep. 30, 2014 | |
Document And Entity Information | |||
Entity Registrant Name | PETROTERRA CORP. | ||
Entity Central Index Key | 1,463,208 | ||
Document Type | 10-K | ||
Document Period End Date | Mar. 31, 2015 | ||
Amendment Flag | false | ||
Current Fiscal Year End Date | --03-31 | ||
Entity a Well-known Seasoned Issuer | No | ||
Entity a Voluntary Filer | No | ||
Entity's Reporting Status Current | Yes | ||
Entity Filer Category | Smaller Reporting Company | ||
Entity Public Float | $ 13,140,037 | ||
Entity Common Stock, Shares Outstanding | 66,124,593 | ||
Trading Symbol | PTRA | ||
Document Fiscal Period Focus | FY | ||
Document Fiscal Year Focus | 2,015 |
Balance Sheets
Balance Sheets - USD ($) | Mar. 31, 2015 | Mar. 31, 2014 |
Current assets | ||
Cash | $ 9,037 | |
Prepaid expenses | $ 1,875 | |
Total current assets | 1,875 | $ 9,037 |
Oil & Gas Exploration | 737,500 | 450,000 |
Fixed Assets, net of accumulated depreciation of $462 and $177 as of March 31, 2015 and 2014, respectively | 2,310 | 1,423 |
Website, net of accumulated amortization of $11,502 and $2,734, respectively | 18,301 | 27,069 |
Total Assets | 759,986 | $ 487,529 |
Current Liabilities | ||
Bank overdraft | 435 | |
Accounts payable | 79,988 | $ 22,873 |
Accrued liabilities | 41,720 | 14,688 |
Accrued liabilities, director | 25,000 | 15,000 |
Notes payable, related-party | 10,118 | 10,118 |
Total current liabilities | 157,261 | 62,679 |
Total liabilities | $ 157,261 | $ 62,679 |
Shareholders' Deficiency | ||
Preferred Stock: $0.001 par value, 10,000,000 shares authorized; no shares issues and outstanding as of March 31, 2015 and 2014. | ||
Common stock; $0.001 par value, 100,000,000 shares authorized; 65,792,306 and 63,699,000 shares issued and outstanding as of March 31, 2015 and March 31, 2014, respectively | $ 65,792 | $ 63,699 |
Additional paid-in capital | $ 1,904,193 | 634,786 |
Common stock payable | 90,000 | |
Accumulated Deficit | $ (1,367,260) | (363,635) |
Total shareholders' equity | 602,725 | 424,850 |
Total liabilities and shareholders' equity | $ 759,986 | $ 487,529 |
Balance Sheets (Parenthetical)
Balance Sheets (Parenthetical) - USD ($) | Mar. 31, 2015 | Mar. 31, 2014 |
Statement of Financial Position [Abstract] | ||
Fixed Assets, net of accumulated depreciation | $ 462 | $ 177 |
Website, net of accumulated amortization | $ 11,502 | $ 2,734 |
Preferred Stock, par value | $ 0.001 | $ 0.001 |
Preferred Stock, authorized | 10,000,000 | 10,000,000 |
Preferred Stock, issued | ||
Preferred stock, outstanding | ||
Common stock, par value | $ 0.001 | $ 0.001 |
Common stock, shares authorized | 100,000,000 | 100,000,000 |
Common stock, shares issued | 65,792,306 | 63,699,000 |
Common Stock, shares outstanding | 65,792,306 | 63,699,000 |
Statements of Operations
Statements of Operations - USD ($) | 12 Months Ended | |
Mar. 31, 2015 | Mar. 31, 2014 | |
EXPENSES | ||
Lease property and exploration costs | $ 186,200 | $ 50,945 |
General and administrative expenses | 175,726 | 91,891 |
Professional fees | 187,699 | 111,064 |
Stock compensation expense | 454,000 | 37,500 |
Net loss from Operation before Taxes | $ (1,003,625) | $ (291,400) |
PROVISION FOR INCOME TAXES | ||
NET LOSS | $ (1,003,625) | $ (291,400) |
(LOSS) PER COMMON SHARE -BASIC AND DILUTED | $ (0.02) | $ (0.01) |
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING | 65,761,098 | 58,142,630 |
Statement of Stockholders' Equi
Statement of Stockholders' Equity (Deficiency) - USD ($) | Common Stock [Member] | Additional Paid-in Capital [Member] | Common Stock Payable [Member] | Accumulated Deficit During Exploration [Member] | Total |
Balance at Mar. 31, 2013 | $ 53,024 | $ (31,064) | $ (72,235) | $ (50,275) | |
Balance, Shares at Mar. 31, 2013 | 53,024,000 | ||||
Common shares issued in exchange of debt on October 2, 2013 | $ 10,000 | 41,525 | 51,525 | ||
Common shares issued in exchange of debt on October 2, 2013, shares | 10,000,000 | ||||
Common shares issued for cash at $1.00 on November 1, 2013 | $ 75 | 74,925 | 75,000 | ||
Common shares issued for cash at $1.00 on November 1, 2013, shares | 75,000 | ||||
Common shares issued for acquisition of lease at $1.00 on November 20, 2013 | $ 250 | 249,750 | 250,000 | ||
Common shares issued for acquisition of lease at $1.00 on November 20, 2013, shares | 250,000 | ||||
Common shares issued for cash at $1.00 on December 19, 2013 | $ 150 | 149,850 | 150,000 | ||
Common shares issued for cash at $1.00 on December 19, 2013, shares | 150,000 | ||||
Common shares issued for cash at $0.75 on February 14, 2014 | $ 200 | 149,800 | 15,000 | ||
Common shares issued for cash at $0.75 on February 14, 2014, shares | 200,000 | ||||
Common stock payable for private placement proceeds | $ 52,500 | 52,500 | |||
Services payable in common stock at $0.75 | 37,500 | 37,500 | |||
Net loss | $ (291,400) | (291,400) | |||
Balance at Mar. 31, 2014 | $ 63,699 | 634,786 | 90,000 | (363,635) | 424,850 |
Balance, Shares at Mar. 31, 2014 | 63,699,000 | ||||
Services payable in common stock at $0.75 | 454,000 | ||||
Common shares issued in exchange for the Ardmore Investment land lease | $ 250 | 187,250 | 187,500 | ||
Common shares issued in exchange for the Ardmore Investment land lease, shares | 250,000 | ||||
Common shares issued for cash at $0.75 on April 24, 2014 | $ 100 | 74,900 | (52,500) | 22,500 | |
Common shares issued for cash at $0.75 on April 24, 2014, shares | 100,000 | ||||
Common shares issued for cash at $0.75 on May 7, 2014 | $ 200 | 149,800 | $ 150,000 | ||
Common shares issued for cash at $0.75 on May 7, 2014, shares | 200,000 | ||||
Common shares issued for services on June 30, 2014 | $ 50 | 37,450 | $ (37,500) | ||
Common shares issued for services on June 30, 2014, shares | 50,000 | ||||
Common shares issued for cash at $0.31 on August 22, 2014 | $ 483 | 149,517 | $ 150,000 | ||
Common shares issued for cash at $0.31 on August 22, 2014, shares | 483,871 | ||||
Common shares issued for services on September 2, 2014 | $ 50 | 20,450 | 20,500 | ||
Common shares issued for services on September 2, 2014, shares | 50,000 | ||||
Common shares issued for services on September 24, 2014 | $ 50 | 20,450 | 20,500 | ||
Common shares issued for services on September 24, 2014, shares | 50,000 | ||||
Common shares issued for cash at $1.00 on October 24, 2014 | $ 147 | 49,853 | 50,000 | ||
Common shares issued for cash at $1.00 on October 24, 2014, shares | 147,059 | ||||
Common shares issued for cash at $0.62 on January 8, 2015 | $ 81 | 49,919 | 50,000 | ||
Common shares issued for cash at $0.62 on January 8, 2015, shares | 80,645 | ||||
Common shares issued for cash at $0.57 on January 29, 2015 | $ 66 | 37,434 | 37,500 | ||
Common shares issued for cash at $0.57 on January 29, 2015, shares | 65,789 | ||||
Common shares issued for services on February 2, 2015 | $ 50 | 41,950 | 42,000 | ||
Common shares issued for services on February 2, 2015, shares | 50,000 | ||||
Common shares issued for cash at $0.69 on February 10, 2015 | $ 116 | 79,884 | 80,000 | ||
Common shares issued for cash at $0.69 on February 10, 2015, shares | 115,942 | ||||
Common shares issued for services on February 13, 2015 | $ 400 | 335,600 | 336,000 | ||
Common shares issued for services on February 13, 2015, shares | 400,000 | ||||
Common shares issued for services on March 16, 2015 | $ 50 | 34,950 | 35,000 | ||
Common shares issued for services on March 16, 2015, shares | 50,000 | ||||
Net loss | (1,003,625) | (1,003,625) | |||
Balance at Mar. 31, 2015 | $ 65,792 | $ 1,904,193 | $ (1,367,260) | $ 602,725 | |
Balance, Shares at Mar. 31, 2015 | 65,792,306 |
Statement of Stockholders' Equ6
Statement of Stockholders' Equity (Deficiency) (Parenthetical) - $ / shares | Feb. 10, 2015 | Jan. 29, 2015 | Jan. 08, 2015 | Oct. 24, 2014 | Aug. 22, 2014 | May. 07, 2014 | Apr. 24, 2014 | Mar. 31, 2014 | Feb. 14, 2014 | Dec. 19, 2013 | Nov. 20, 2013 | Nov. 01, 2013 |
Statement of Stockholders' Equity [Abstract] | ||||||||||||
Common stock issued during period, per share | $ 0.69 | $ 0.57 | $ 0.62 | $ 1 | $ 0.31 | $ 0.75 | $ 0.75 | $ 0.75 | $ 0.75 | $ 1 | $ 1 | $ 1 |
Statements of Cash Flows
Statements of Cash Flows - USD ($) | 12 Months Ended | |
Mar. 31, 2015 | Mar. 31, 2014 | |
OPERATING ACTIVITIES | ||
Net income (loss) | $ (1,003,625) | $ (291,400) |
Adjustments to reconcile net income (loss) to net cash used in operating activities: | ||
Services payable in common stock | 454,000 | $ 37,500 |
Prepaid expenses | (1,875) | |
Depreciation and amortization | 9,762 | $ 2,911 |
Loss of asset write-off | 891 | |
Increase (decrease) in: | ||
Bank overdraft | 435 | |
Accounts payable | 57,115 | $ 17,288 |
Accrued expenses | 27,032 | 14,688 |
Related Party Loans - paid directly to vendors on behalf of the Company | 16,953 | |
Accrued payroll, officer | 10,000 | 15,000 |
Net cash used in operating activities | (446,265) | (187,060) |
INVESTING ACTIVITIES | ||
Investment in Oil & Gas Exploration | (100,000) | (200,000) |
Investment in fixed assets and website | (2,772) | (31,403) |
Net cash used in investing activities | (102,772) | (231,403) |
FINANCING ACTIVITIES | ||
Sales of Common stock | $ 540,000 | 375,000 |
Common stock payable | 52,500 | |
Net cash provided by financing activities | $ 540,000 | 427,500 |
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | (9,037) | $ 9,037 |
CASH AND CASH EQUIVALENTS -BEGINNING OF PERIOD | $ 9,037 | |
CASH AND CASH EQUIVALENTS -END OF PERIOD | $ 9,037 | |
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION: | ||
Cash paid for interest | ||
Cash paid for taxes | ||
NON-CASH INVESTING AND FINANCING ACTIVITIES: | ||
Common stock issued for services | $ 454,000 | $ 37,500 |
Common stock issued for the acquisition of lease | $ 187,500 | 250,000 |
Common stock issued upon conversion of notes payable | $ 51,525 |
Organization and Business Opera
Organization and Business Operations | 12 Months Ended |
Mar. 31, 2015 | |
Organization And Business Operations | |
Organization and Business Operations | 1. ORGANIZATION AND BUSINESS OPERATIONS PetroTerra Corp. (the “Company”) was incorporated under the laws of the State of Nevada, on July 25, 2008. The Company is in the development stage as defined under Accounting Codification Standard or ACS, Development Stage Entities (“ASC-915”) and plans to identify, evaluate and acquire oil and gas exploration and development opportunities primarily within the United States. The Company has not generated any revenue to date and consequently its operations are subject to all risks inherent in the establishment of a new business enterprise. For the period from inception on July 25, 2008 through March 31, 2015, the Company has accumulated losses of $1,367,260. |
Going Concern
Going Concern | 12 Months Ended |
Mar. 31, 2015 | |
Going Concern | |
Going Concern | 2. GOING CONCERN The financial statements have been prepared on a going concern basis which assumes the Company will be able to realize its assets and discharge its liabilities in the normal course of business for the foreseeable future. The Company has incurred losses since inception resulting in an accumulated deficit of $1,367,260 as of March 31, 2015 and further losses are anticipated in the development of its business raising substantial doubt about the CompanyÂ’s ability to continue as a going concern. The ability to continue as a going concern is dependent upon the Company generating profitable operations in the future and/or obtaining the necessary financing to meet its obligations and repay its liabilities, which have arisen from normal business operations as they come due. Management intends to finance operating costs over the next twelve months with existing cash on hand loans from our director and/or private placements of common stock. |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 12 Months Ended |
Mar. 31, 2015 | |
Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies | 3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The financial statements of the Company have been prepared in accordance with generally accepted accounting principles in the United States of America and are presented in US dollars. These statements reflect all adjustments, including of normal recurring adjustments, which, in the opinion of management, are necessary for fair presentation of the information contained therein. Development Stage Activities The Company is a development stage enterprise. All losses accumulated since the inception of the Company have been considered as part of the Company’s development stage activities. Cash and Cash Equivalents The Company considers all highly liquid instruments with maturity of three months or less at the time of issuance to be cash equivalents. Use of Estimates and Assumptions The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. In management’s opinion, all adjustments necessary for a fair statement of the results for the interim periods have been made and all adjustments are of a normal recurring nature. Foreign Currency Translation The Company’s functional currency and its reporting currency is the United States dollar. Stock Split On December 18, 2013, the Company As a result of the Reverse Stock Split, the Company’s authorized shares of common stock were decreased from 200,000,000 to 100,000,000 shares and its authorized shares of preferred stock were decreased from 20,000,000 to 10,000,000 shares. Upon the effectiveness of the Reverse Stock Split, which occurred on December 20, 2013, the Company’s issued and outstanding shares of common stock was decreased from 126,698,000 to 63,349,000 shares, all with a par value of $0.001. The Company has no outstanding shares of preferred stock. Accordingly, all share and per share information has been restated to retroactively show the effect of the Reverse Stock Split. Stock-based Compensation In September 2009, the FASB issued ASC-718, “Stock Compensation”. ASC-718 requires all share-based payments to employees, including grants of employee stock options, to be recognized in the financial statements based on the grant date fair value of the award. Under ASC-718, the Company must determine the appropriate fair value model to be used for valuing share-based payments, the amortization method for compensation cost and the transition method to be used at date of adoption. Income Taxes Income taxes are accounted for under the assets and liability method. Deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating losses and tax credit carry forwards. Deferred tax assets and liabilities are measured using enacted tax rates in effect for the year in which those temporary differences are expected to be recovered or settled. Basic and Diluted Loss Per Share The Company computes loss per share in accordance with ASC-260, “Earnings per Share” which requires presentation of both basic and diluted earnings per share on the face of the statement of operations. Basic loss per share is computed by dividing net loss available to common stockholders by the weighted average number of outstanding shares of common stock during the period. Diluted loss per share gives effect to all dilutive potential shares of common stock outstanding during the period. Dilutive loss per share excludes all potential shares of common stock if their effect is anti-dilutive. The Company has no potential dilutive instruments and accordingly basic loss and diluted loss per share are equal. Fiscal Periods The Company’s fiscal year end is March 31. Recent accounting pronouncements In May 2014, the FASB amended the ASC and created Topic 606, Revenue from Contracts with Customers, to clarify the principles for recognizing revenue. This guidance will be effective for the Company beginning January 1, 2017and must be adopted using either a full retrospective approach for all periods presented in the period of adoption or a modified retrospective approach. We have not yet determined the effects of this new guidance on our financial statements. In August 2014, the FASB issued a new U.S. GAAP accounting standard that provides guidance about management’s responsibility to evaluate whether there is substantial doubt about an entity’s ability to continue as a going concern and to provide related footnote disclosures. The new accounting standard requires management to assess an entity’s ability to continue as a going concern by incorporating and expanding upon certain principles that are currently in U.S. auditing standards. The new accounting standard is effective for the annual period ending after December 15, 2016, and for annual periods and interim periods thereafter. Early application is permitted. The Company does not expect the adoption of this standard to have a material impact on the consolidated financial statements. Revenue Recognition The Company will recognize revenue in accordance with ACS - 605, “Revenue recognition”, ASC-605 requires that four basic criteria be met before revenue can be recognized: (1) persuasive evidence of an arrangement exists; (2) delivery has occurred; (3) the selling price is fixed and determinable; and (4) collectability is reasonably assured. Determination of criteria (3) and (4) are based on management’s judgments regarding the fixed nature of the selling prices of the products delivered and the collectability of those amounts. Provisions for discounts and rebates to customers, estimated returns and allowances, and other adjustments are provided for in the same period the related sales are recorded. The Company will defer any revenue for which the product has not been delivered or is subject to refund until such time that the Company and the customer jointly determine that the product has been delivered or no refund will be required. Oil and Gas The Company complies with ASC 932, “Extractive Activities - Oil and Gas”. The Company has capitalized exploratory well costs, and has determined that there are no suspended well costs that should be impaired. The Company reviews its long-lived assets for impairments when events or changes in circumstances indicate that impairment may have occurred. Website The Company capitalizes the costs associated with the development of the Company’s website pursuant to ASC - 350, “Goodwill and Other”. Other costs related to the maintenance of the website are expensed as incurred. Amortization is provided over the estimated useful lives of three years using the straight-line method for financial statement purposes. The Company commenced amortization upon completion of the Company’s fully operational website. Amortization expense for the year ended March 31, 2015 and 2014 totaled $8,768 and $2,734 respectively. Property and Equipment Property and equipment are carried at cost. Expenditures for major renewals and betterments that extend the useful lives of property and equipment are capitalized. Expenditures for maintenance and repairs are charged to expense as incurred. Depreciation and amortization of property and equipment is provided using the straight-line method for financial reporting purposes at rates based on the following estimated useful lives: Classification Useful Life Computer equipment 3 Years Website design 3 Years Patents and trademarks 15 Years Depreciation expense for the year ended March 31, 2015 and 2014 totaled $994 and $177, respectively. Equipment Equipment is recorded at cost. Depreciation is computed for financial reporting purposes utilizing the straight-line method over the estimated useful lives of the related asset. Advertising The Company follows the policy of charging the costs of advertising to expenses incurred. The Company incurred $0 in advertising costs during the years ended March 31, 2015 and 2014, respectively. |
Acquisition of Oil and Gas Prop
Acquisition of Oil and Gas Properties | 12 Months Ended |
Mar. 31, 2015 | |
Business Combinations [Abstract] | |
Acquisition of Oil and Gas Properties | 4. ACQUISITION OF OIL AND GAS PROPERTIES On November 18, 2013, the Company entered into an assignment of lease (the “Agreement”) whereby Ardmore Investments Inc. (“Ardmore”) assigned to the Company its rights under a certain purchase agreement (the “Purchase Agreement”), dated August 8, 2013, between Ardmore and Pioneer Oil and Gas (“Pioneer”) involving the sale of 5,905.54 acres of oil and gas leases located in the Central Utah Thrust Belt in Beaver County and Sevier County, Utah and currently owned by Pioneer (the “Leases”). Per the terms of the Agreement, we issued to Ardmore 250,000 shares of our common stock on November 18, 2013, and, in order to complete the assignment contemplated by the Agreement, we will issue to Ardmore an additional 250,000 shares of our common stock upon the transfer to us of ownership in the Leases which must occur on or before April 12, 2014. Furthermore, on December 12, 2013 and February 12, 2014, the Company made two installment payments of $100,000 each to Pioneer with an additional $100,000 installment payment required on April 12, 2014. Upon completion of the final installment the leases were conveyed to the Company. Due to the lack of an active market of the Company’s common stock, the fair value of the common stock transferred was determined based on the price at which the Company’s shares were being sold in a private placement active during the time period. |
Common Stock
Common Stock | 12 Months Ended |
Mar. 31, 2015 | |
Equity [Abstract] | |
Common Stock | 5. COMMON STOCK The CompanyÂ’s authorized capital consists of 100,000,000 shares of common stock and 10,000,000 shares of preferred stock, both with a par value of $0.001 per share. This gives effect to the Company 32 for 1 forward stock split that was effected on January 3, 2012 and the CompanyÂ’s subsequent Reverse Stock Split. All share and per share information has been restated in this Report to retroactively show the effect of the two stock splits. On October 2, 2013, John Barton purchased 43.0% of the issued and outstanding shares of the Company from previous stockholders. Concurrently with Mr. BartonÂ’s purchase, the Board of Directors of the Company determined that it was in the best interest of the Company to settle a portion of an outstanding loan from Mr. Barton to the Company in the period ending March 31, 2014. In exchange for the settlement of the outstanding debt, the Company issued Mr. Barton 10,000,000 shares of common stock. Upon completion of the above transactions, Mr. Barton became the beneficial owner of 52.01% of the issued and outstanding shares of common stock of the Company. On November 1, 2013, the Company sold a total of 75,000 shares of common stock for gross proceeds of $75,000. On November 20, 2013, the Company issued 250,000 shares of common stock in conjunction with a lease assignment with a value of $250,000. On December 19, 2013, the Company sold a total of 150,000 shares of common stock for gross proceeds of $150,000. On February 14, 2014, the Company sold a total of 200,000 shares of common stock for gross proceeds of $150,000. On March 6, 2014, the Company issued 50,000 shares of common stock to a third party entity for consulting services. The fair value of the shares of common stock was $37,500. On March 31, 2014, the $37,500 was recorded to common stock payable and a stock certificate representing the shares of common stock was issued on June 30, 2014. On March 10, 2014, the Company entered into a private placement for 100,000 shares of common stock for gross proceeds of $75,000. On March 10, 2014 and March 25, 2014, the Company received $52,500 of the proceeds, however, the remaining $22,500 was received on April 24, 2014, wherein, the Company issued the shares. As the March 31, 2014, the $52,500 is recorded to common stock payable. On April 12, 2014, in connection with the Agreement, the Company issued to Ardmore 250,000 shares of our common stock. On May 7, 2014, the Company sold a total of 200,000 shares of common stock for gross proceeds of $150,000. On June 30, 2014 the Company authorized the issuance of 50,000 shares of common stock to the Chief Operating Officer for consulting services. The fair value of the shares of common stock was $37,500. On August 22, 2014 the Company sold a total of 483,871 shares of common stock for gross proceeds of $150,000. On September 2, 2014, the Company authorized the issuance of 50,000 shares of common stock to a third party entity for consulting services. The fair value of the shares of common stock was $20,500. On September 16, 2014, the Company authorized the issuance of 50,000 shares of common stock to the CompanyÂ’s newly appointed Chief Operating Officer for consulting services. The fair value of the shares of common stock was $20,500. On October 24, 2014 the Company sold 147,059 shares of common stock for gross proceeds of $50,000. On November 17, 2014, the Company entered into a private placement for 80,645 shares of common stock for gross proceeds of $50,000. On December 8, 2014, the Company received $37,500 of the proceeds, however, the remaining $12,500 was received on January 8, 2015, wherein, the Company issued the shares. On January 29, 2015, the Company entered into a private placement for 65,789 shares of common stock for gross proceeds of $37,500. On February 2, 2015, the Company authorized the issuance of 50,000 shares of common stock for consulting services. The fair value of the shares of common stock was $42,000. On February 10, 2015, the Company entered into a private placement for 115,942 shares of common stock for gross proceeds of $80,000. On February 13, 2015, the Company issued 400,000 shares of common stock as per the Employment Agreement between the Company and John Barton. The fair value of the shares of common stock was $336,000. On March 13, 2015, the Company authorized the issuance of 50,000 shares of common stock to the Chief Operating Officer for consulting services. The fair value of the shares of common stock was $35,000. As of March 31, 2015, the Company had 65,792,306 shares of common stock issued and outstanding. |
Income Taxes
Income Taxes | 12 Months Ended |
Mar. 31, 2015 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | 6. INCOME TAXES As of March 31, 2015, the Company had net operating loss carry forwards of approximately $1,367,260 that may be available to reduce future years’ taxable income through 2034. Future tax benefits which may arise as a result of these losses have not been recognized in these financial statements, as their realization is determined not likely to occur. Accordingly, the Company has recorded a valuation allowance for the deferred tax asset relating to these tax loss carry-forwards. Deferred tax liabilities and assets are recognized for the expected future tax consequences of events that have been included in the financial statement or tax returns. Under this method, deferred tax liabilities and assets are determined based on the difference between financial statements and tax bases of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse A reconciliation of tax expense computed at the statutory federal tax rate income (loss) from operations before income taxes to the actual income tax expense is as follows: 2015 2014 Tax provision (benefits) computed at the statutory rate $ (371,900 ) $ (108,000 ) Nondeductible expense (1,100 ) (700 ) (370,800 ) (107,300 ) Increase in valuation allowance for deferred tax assets 370,800 107,300 Income tax expense benefit $ — $ — Deferred income taxes include the net tax effects of net operating loss (NOL) carry forwards and the temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Significant components of the Company’s deferred tax assets are as follows: 2015 2014 Stock based compensation $ - $ 13,900 Net operating loss carryover 491,000 120,200 Total deferred tax assets 491,000 134,100 Valuation allowance (491,000 ) (134,100 ) Net deferred tax assets $ — $ — The Company has provided a valuation reserve against the full amount of the net deferred tax assets; because in the opinion of management, it is more likely than not that these tax assets will not be realized. The Company’s NOL and tax credit carryovers may be significantly limited under the Internal Revenue Code (IRC). NOL and tax credit carryovers are limited under Section 382 when there is a significant “ownership change” as defined in the IRC. During the fiscal year ended March 31, 2015 and in prior years, the Company may have experienced such ownership changes, which could impose such limitations. The limitation imposed by the IRC would place an annual limitation on the amount of NOL and tax credit carryovers that can be utilized. When the Company completes the necessary studies, the amount of NOL carryovers available may be reduced significantly. However, since the valuation allowance fully reserves for all available carryovers, the effect of the reduction would be offset by a reduction in the valuation allowance. The company files income tax returns in the U.S. federal jurisdiction, and the State of Colorado. |
Related Party Transactions
Related Party Transactions | 12 Months Ended |
Mar. 31, 2015 | |
Related Party Transactions [Abstract] | |
Related Party Transactions | 7. RELATED PARTY TRANSACTIONS The Company has received advances from certain of its officers and other related parties to meet short-term working capital needs. These advances may not have formal repayment terms or arrangements. As of March 31, 2015 and March 31, 2014, the total amount loaned to the Company by a director was $10,118 and $10,118, respectively. The loan is non-interest bearing, due upon demand and unsecured. On October 2, 2013, the Company settled an outstanding loan with a principal amount of $51,525 by exchanging 10,000,000 shares of common stock for conversion of outstanding debt of $20,000 due to the CompanyÂ’s chief executive officer and the remaining $31,525 of outstanding debt due to the previous chief executive officer was extinguished to Additional paid-in capital. The Company has an employment agreement with the Company President whereby the Company provides for compensation of $10,000 per month. A total salary of $120,000 expensed during the year ended March 31, 2015. For the period from October 2, 2013 through March 31, 2014, the Company has paid its chief executive officer $60,000. The total balance due to the President for accrued salaries at March 31, 2015 and 2014, was $25,000 and $15,000, respectively. |
Commitments and Contingencies
Commitments and Contingencies | 12 Months Ended |
Mar. 31, 2015 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | 8. COMMITMENTS AND CONTINGENCIES Land Lease Agreements As detailed in the “Acquisition of Oil and Gas Properties” - Note 4, the Company is obligated to issue Ardmore Investments an additional 250,000 shares of common stock upon the transfer of ownership of the Leases on or before April 12, 2014. Furthermore, an installment payment is due to Pioneer in the amount of $100,000 on April 12, 2014. Upon completion of the final installment the leases will be conveyed to the Company. |
Subsequent Event
Subsequent Event | 12 Months Ended |
Mar. 31, 2015 | |
Subsequent Events [Abstract] | |
Subsequent Event | 9. SUBSEQUENT EVENT The Company has evaluated subsequent events from March 31, 2015 through the filing of these financial statements. There are no significant subsequent events, except as disclosed below; Securities Purchase Agreement On April 27, 2015, the Company sold a total of 54,794 shares of common stock to an investor for gross proceeds of $40,000. On June 1, 2015, the Company sold a total of 147,058 shares of common stock to an investor for gross proceeds of $50,000. On June 12, 2015, the Company sold a total of 130,435 shares of common stock to an investor for gross proceeds of $30,000. |
Summary of Significant Accoun17
Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Mar. 31, 2015 | |
Accounting Policies [Abstract] | |
Basis of Presentation | Basis of Presentation The financial statements of the Company have been prepared in accordance with generally accepted accounting principles in the United States of America and are presented in US dollars. These statements reflect all adjustments, including of normal recurring adjustments, which, in the opinion of management, are necessary for fair presentation of the information contained therein. |
Development Stage Activities | Development Stage Activities The Company is a development stage enterprise. All losses accumulated since the inception of the Company have been considered as part of the CompanyÂ’s development stage activities. |
Cash and Cash Equivalents | Cash and Cash Equivalents The Company considers all highly liquid instruments with maturity of three months or less at the time of issuance to be cash equivalents. |
Use of Estimates and Assumptions | Use of Estimates and Assumptions The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. In managementÂ’s opinion, all adjustments necessary for a fair statement of the results for the interim periods have been made and all adjustments are of a normal recurring nature. |
Foreign Currency Translation | Foreign Currency Translation The CompanyÂ’s functional currency and its reporting currency is the United States dollar. |
Stock Split | Stock Split On December 18, 2013, the Company As a result of the Reverse Stock Split, the CompanyÂ’s authorized shares of common stock were decreased from 200,000,000 to 100,000,000 shares and its authorized shares of preferred stock were decreased from 20,000,000 to 10,000,000 shares. Upon the effectiveness of the Reverse Stock Split, which occurred on December 20, 2013, the CompanyÂ’s issued and outstanding shares of common stock was decreased from 126,698,000 to 63,349,000 shares, all with a par value of $0.001. The Company has no outstanding shares of preferred stock. Accordingly, all share and per share information has been restated to retroactively show the effect of the Reverse Stock Split. |
Stock-based Compensation | Stock-based Compensation In September 2009, the FASB issued ASC-718, “Stock Compensation”. ASC-718 requires all share-based payments to employees, including grants of employee stock options, to be recognized in the financial statements based on the grant date fair value of the award. Under ASC-718, the Company must determine the appropriate fair value model to be used for valuing share-based payments, the amortization method for compensation cost and the transition method to be used at date of adoption. |
Income Taxes | Income Taxes Income taxes are accounted for under the assets and liability method. Deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating losses and tax credit carry forwards. Deferred tax assets and liabilities are measured using enacted tax rates in effect for the year in which those temporary differences are expected to be recovered or settled. |
Basic and Diluted Loss Per Share | Basic and Diluted Loss Per Share The Company computes loss per share in accordance with ASC-260, “Earnings per Share” which requires presentation of both basic and diluted earnings per share on the face of the statement of operations. Basic loss per share is computed by dividing net loss available to common stockholders by the weighted average number of outstanding shares of common stock during the period. Diluted loss per share gives effect to all dilutive potential shares of common stock outstanding during the period. Dilutive loss per share excludes all potential shares of common stock if their effect is anti-dilutive. The Company has no potential dilutive instruments and accordingly basic loss and diluted loss per share are equal. |
Fiscal Periods | Fiscal Periods The CompanyÂ’s fiscal year end is March 31. |
Recent Accounting Pronouncements | Recent accounting pronouncements In May 2014, the FASB amended the ASC and created Topic 606, Revenue from Contracts with Customers, to clarify the principles for recognizing revenue. This guidance will be effective for the Company beginning January 1, 2017and must be adopted using either a full retrospective approach for all periods presented in the period of adoption or a modified retrospective approach. We have not yet determined the effects of this new guidance on our financial statements. In August 2014, the FASB issued a new U.S. GAAP accounting standard that provides guidance about managementÂ’s responsibility to evaluate whether there is substantial doubt about an entityÂ’s ability to continue as a going concern and to provide related footnote disclosures. The new accounting standard requires management to assess an entityÂ’s ability to continue as a going concern by incorporating and expanding upon certain principles that are currently in U.S. auditing standards. The new accounting standard is effective for the annual period ending after December 15, 2016, and for annual periods and interim periods thereafter. Early application is permitted. The Company does not expect the adoption of this standard to have a material impact on the consolidated financial statements. |
Revenue Recognition | Revenue Recognition The Company will recognize revenue in accordance with ACS - 605, “Revenue recognition”, ASC-605 requires that four basic criteria be met before revenue can be recognized: (1) persuasive evidence of an arrangement exists; (2) delivery has occurred; (3) the selling price is fixed and determinable; and (4) collectability is reasonably assured. Determination of criteria (3) and (4) are based on management’s judgments regarding the fixed nature of the selling prices of the products delivered and the collectability of those amounts. Provisions for discounts and rebates to customers, estimated returns and allowances, and other adjustments are provided for in the same period the related sales are recorded. The Company will defer any revenue for which the product has not been delivered or is subject to refund until such time that the Company and the customer jointly determine that the product has been delivered or no refund will be required. |
Oil and Gas | Oil and Gas The Company complies with ASC 932, “Extractive Activities - Oil and Gas”. The Company has capitalized exploratory well costs, and has determined that there are no suspended well costs that should be impaired. The Company reviews its long-lived assets for impairments when events or changes in circumstances indicate that impairment may have occurred. |
Website | Website The Company capitalizes the costs associated with the development of the Company’s website pursuant to ASC - 350, “Goodwill and Other”. Other costs related to the maintenance of the website are expensed as incurred. Amortization is provided over the estimated useful lives of three years using the straight-line method for financial statement purposes. The Company commenced amortization upon completion of the Company’s fully operational website. Amortization expense for the year ended March 31, 2015 and 2014 totaled $8,768 and $2,734 respectively. |
Property and Equipment | Property and Equipment Property and equipment are carried at cost. Expenditures for major renewals and betterments that extend the useful lives of property and equipment are capitalized. Expenditures for maintenance and repairs are charged to expense as incurred. Depreciation and amortization of property and equipment is provided using the straight-line method for financial reporting purposes at rates based on the following estimated useful lives: Classification Useful Life Computer equipment 3 Years Website design 3 Years Patents and trademarks 15 Years Depreciation expense for the year ended March 31, 2015 and 2014 totaled $994 and $177, respectively. |
Equipment | Equipment Equipment is recorded at cost. Depreciation is computed for financial reporting purposes utilizing the straight-line method over the estimated useful lives of the related asset. |
Advertising | Advertising The Company follows the policy of charging the costs of advertising to expenses incurred. The Company incurred $0 in advertising costs during the years ended March 31, 2015 and 2014, respectively. |
Summary of Significant Accoun18
Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Mar. 31, 2015 | |
Accounting Policies [Abstract] | |
Estimated Useful Life of Property and Equipment | Depreciation and amortization of property and equipment is provided using the straight-line method for financial reporting purposes at rates based on the following estimated useful lives: Classification Useful Life Computer equipment 3 Years Website design 3 Years Patents and trademarks 15 Years |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Mar. 31, 2015 | |
Income Tax Disclosure [Abstract] | |
Reconciliation of Tax Expense Computed at Statutory Federal Tax Rate | A reconciliation of tax expense computed at the statutory federal tax rate income (loss) from operations before income taxes to the actual income tax expense is as follows: 2015 2014 Tax provision (benefits) computed at the statutory rate $ (371,900 ) $ (108,000 ) Nondeductible expense (1,100 ) (700 ) (370,800 ) (107,300 ) Increase in valuation allowance for deferred tax assets 370,800 107,300 Income tax expense benefit $ — $ — |
Significant Components of Deferred Tax Assets | Deferred income taxes include the net tax effects of net operating loss (NOL) carry forwards and the temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Significant components of the Company’s deferred tax assets are as follows: 2015 2014 Stock based compensation $ - $ 13,900 Net operating loss carryover 491,000 120,200 Total deferred tax assets 491,000 134,100 Valuation allowance (491,000 ) (134,100 ) Net deferred tax assets $ — $ — |
Organization and Business Ope20
Organization and Business Operations (Details Narrative) - USD ($) | Mar. 31, 2015 | Mar. 31, 2014 |
Organization And Business Operations | ||
Accumulated losses | $ 1,367,260 | $ 363,635 |
Going Concern (Details Narrativ
Going Concern (Details Narrative) - USD ($) | Mar. 31, 2015 | Mar. 31, 2014 |
Going Concern | ||
Accumulated deficit | $ 1,367,260 | $ 363,635 |
Summary of Significant Accoun22
Summary of Significant Accounting Policies (Details Narrative) - USD ($) | Dec. 18, 2013 | Mar. 31, 2015 | Mar. 31, 2014 | Dec. 20, 2013 |
Reverse stock split | ratio of 1 for 2 | |||
Common stock, shares authorized | 100,000,000 | 100,000,000 | ||
Preferred stock, shares authorized | 10,000,000 | 10,000,000 | ||
Common stock, shares outstanding | 65,792,306 | 63,699,000 | ||
Common stock, shares issued | 65,792,306 | 63,699,000 | ||
Common stock, par value | $ 0.001 | $ 0.001 | $ 0.001 | |
Preferred stock, outstanding | 0 | |||
Estimated useful life | 3 years | |||
Amortization expense | $ 8,768 | $ 2,734 | ||
Depreciation expense | 994 | 177 | ||
Advertising cost | $ 0 | $ 0 | ||
Maximum [Member] | ||||
Common stock, shares authorized | 200,000,000 | |||
Preferred stock, shares authorized | 20,000,000 | |||
Common stock, shares outstanding | 126,698,000 | |||
Common stock, shares issued | 126,698,000 | |||
Minimum [Member] | ||||
Common stock, shares authorized | 100,000,000 | |||
Preferred stock, shares authorized | 10,000,000 | |||
Common stock, shares outstanding | 63,349,000 | |||
Common stock, shares issued | 63,349,000 |
Summary of Significant Accoun23
Summary of Significant Accounting Policies - Estimated Useful Life of Property and Equipment (Details) | 12 Months Ended |
Mar. 31, 2015 | |
Computer Equipment [Member] | |
Useful Life | 3 years |
Website Design [Member] | |
Useful Life | 3 years |
Patents and Trademarks [Member] | |
Useful Life | 15 years |
Acquisition of Oil and Gas Pr24
Acquisition of Oil and Gas Properties (Details Narrative) | Apr. 12, 2014USD ($)shares | Feb. 12, 2014USD ($) | Dec. 12, 2013USD ($) | Nov. 18, 2013ashares |
Installment payment of acquire oil and gas | $ | $ 100,000 | $ 100,000 | $ 100,000 | |
Ardmore [Member] | ||||
Issuance of additional shares for transfer of ownership | 250,000 | |||
Ardmore And Pioneer Oil And Gas [Member] | ||||
Acres of oil and gas selling | a | 5,905.54 | |||
Ardmore [Member] | ||||
Issuance of stock | 250,000 |
Common Stock (Details Narrative
Common Stock (Details Narrative) - USD ($) | Mar. 13, 2015 | Feb. 13, 2015 | Feb. 10, 2015 | Feb. 02, 2015 | Jan. 29, 2015 | Jan. 08, 2015 | Dec. 08, 2014 | Nov. 17, 2014 | Oct. 24, 2014 | Sep. 16, 2014 | Sep. 02, 2014 | Aug. 22, 2014 | Jun. 30, 2014 | May. 07, 2014 | Apr. 24, 2014 | Apr. 12, 2014 | Mar. 25, 2014 | Mar. 10, 2014 | Mar. 06, 2014 | Feb. 14, 2014 | Dec. 19, 2013 | Nov. 20, 2013 | Nov. 01, 2013 | Jan. 03, 2012 | Mar. 31, 2015 | Mar. 31, 2014 | Dec. 20, 2013 | Oct. 02, 2013 |
Common stock, shares authorized | 100,000,000 | 100,000,000 | ||||||||||||||||||||||||||
Preferred stock, authorized | 10,000,000 | 10,000,000 | ||||||||||||||||||||||||||
Common stock, par value | $ 0.001 | $ 0.001 | $ 0.001 | |||||||||||||||||||||||||
Preferred stock, par value | $ 0.001 | $ 0.001 | ||||||||||||||||||||||||||
Equity stock split description | 32 for 1 forward stock split | |||||||||||||||||||||||||||
Common stock, shares issued | 65,792,306 | 63,699,000 | ||||||||||||||||||||||||||
Common stock, shares outstanding | 65,792,306 | 63,699,000 | ||||||||||||||||||||||||||
Shares issued price per share | $ 0.69 | $ 0.57 | $ 0.62 | $ 1 | $ 0.31 | $ 0.75 | $ 0.75 | $ 0.75 | $ 1 | $ 1 | $ 1 | $ 0.75 | ||||||||||||||||
Proceeds from issuance of common stock | $ 50,000 | $ 150,000 | $ 150,000 | $ 150,000 | $ 150,000 | $ 75,000 | $ 540,000 | $ 375,000 | ||||||||||||||||||||
Stock issued during period for service, shares | 50,000 | |||||||||||||||||||||||||||
Sale of stock during period, shares | 115,942 | 65,789 | 147,059 | 483,871 | 200,000 | 100,000 | 200,000 | 150,000 | 75,000 | |||||||||||||||||||
Issuance of common stock for land lease assignment, shares | 250,000 | |||||||||||||||||||||||||||
Issuance of common stock for land lease assignment | $ 250,000 | |||||||||||||||||||||||||||
Stock issued during period for service, value | $ 42,000 | |||||||||||||||||||||||||||
Common stock payable | 90,000 | |||||||||||||||||||||||||||
Gross proceeds on sale of private placement | $ 80,000 | $ 37,500 | $ 12,500 | $ 37,500 | $ 22,500 | $ 52,500 | $ 75,000 | |||||||||||||||||||||
Chief Operating Officer [Member] | ||||||||||||||||||||||||||||
Stock issued during period for service, shares | 50,000 | 50,000 | 50,000 | |||||||||||||||||||||||||
Stock issued during period for service, value | $ 35,000 | $ 20,500 | $ 37,500 | |||||||||||||||||||||||||
Ardmore [Member] | ||||||||||||||||||||||||||||
Sale of stock during period, shares | 250,000 | |||||||||||||||||||||||||||
Third Party [Member] | ||||||||||||||||||||||||||||
Stock issued during period for service, shares | 50,000 | |||||||||||||||||||||||||||
Stock issued during period for service, value | $ 20,500 | |||||||||||||||||||||||||||
Company and John Barton [Member] | Employment Agreement [Member] | ||||||||||||||||||||||||||||
Stock issued during period for service, shares | 400,000 | |||||||||||||||||||||||||||
Stock issued during period for service, value | $ 336,000 | |||||||||||||||||||||||||||
Private Placement [Member] | ||||||||||||||||||||||||||||
Sale of stock during period, shares | 80,645 | |||||||||||||||||||||||||||
Common stock payable | 52,500 | |||||||||||||||||||||||||||
Gross proceeds on sale of private placement | $ 50,000 | |||||||||||||||||||||||||||
Mr John Barton [Member] | ||||||||||||||||||||||||||||
Purchase of issued and outstanding shares | 43.00% | |||||||||||||||||||||||||||
Number of common stock shares issued for settlement of outstanding debt | 10,000,000 | |||||||||||||||||||||||||||
Percentage of ownership after transaction | 52.01% | |||||||||||||||||||||||||||
Third Party Entity For Consulting Services [Member] | ||||||||||||||||||||||||||||
Stock issued during period for service, shares | 50,000 | |||||||||||||||||||||||||||
Stock issued during period for service, value | $ 37,500 | |||||||||||||||||||||||||||
Common stock payable | $ 37,500 |
Income Taxes (Details Narrative
Income Taxes (Details Narrative) - Mar. 31, 2015 - USD ($) | Total |
Income Tax Disclosure [Abstract] | |
Net operating loss carry forwards | $ 1,367,260 |
Operating loss carryforward expiration year | 2,034 |
Income Taxes - Reconciliation o
Income Taxes - Reconciliation of Tax Expense Computed at Statutory Federal Tax Rate (Details) - USD ($) | 12 Months Ended | |
Mar. 31, 2015 | Mar. 31, 2014 | |
Income Tax Disclosure [Abstract] | ||
Tax provision (benefits) computed at the statutory rate | $ (371,900) | $ (108,000) |
Nondeductible expense | (1,100) | (700) |
Income tax expense benefit before increase in valuation allowance for deferred tax assets | (370,800) | (107,300) |
Increase in valuation allowance for deferred tax assets | $ 370,800 | $ 107,300 |
Income tax expense benefit |
Income Taxes - Significant Comp
Income Taxes - Significant Components of Deferred Tax Assets (Details) - USD ($) | Mar. 31, 2015 | Mar. 31, 2014 |
Income Tax Disclosure [Abstract] | ||
Stock based compensation | $ 13,900 | |
Net operating loss carryover | $ 491,000 | 120,200 |
Total deferred tax assets | 491,000 | 134,100 |
Valuation allowance | (491,000) | (134,100) |
Net deferred tax assets | $ 0 | $ 0 |
Related Party Transactions (Det
Related Party Transactions (Details Narrative) - USD ($) | Oct. 02, 2013 | Mar. 31, 2014 | Mar. 31, 2015 | Mar. 31, 2014 |
Loan from Director | $ 10,118 | $ 10,118 | $ 10,118 | |
Stock issued during period for conversion of outstanding debt | 51,525 | |||
Compensation expense | 120,000 | |||
Chief Executive Officer [Member] | ||||
Outstanding loan amount settled through exchange of shares | $ 51,525 | |||
Stock issued during period for conversion of outstanding debt, shares | 10,000,000 | |||
Stock issued during period for conversion of outstanding debt | $ 20,000 | |||
Outstanding debt due to officer | $ 31,525 | |||
Paid compensation | 60,000 | |||
President [Member] | ||||
Accrued salaries | $ 15,000 | 25,000 | $ 15,000 | |
President [Member] | Employment Agreement [Member] | ||||
Compensation | $ 10,000 |
Committments and Contingencies
Committments and Contingencies (Details Narrative) - USD ($) | Apr. 12, 2014 | Feb. 12, 2014 | Dec. 12, 2013 |
Installment payment of acquire oil and gas | $ 100,000 | $ 100,000 | $ 100,000 |
Ardmore [Member] | |||
Issuance of additional shares for transfer of ownership | 250,000 | ||
Pioneer [Member] | |||
Installment payment of acquire oil and gas | $ 100,000 |
Subsequent Event (Details Narra
Subsequent Event (Details Narrative) - USD ($) | Jun. 12, 2015 | Jun. 01, 2015 | Apr. 27, 2015 | Feb. 10, 2015 | Jan. 29, 2015 | Oct. 24, 2014 | Aug. 22, 2014 | May. 07, 2014 | Mar. 10, 2014 | Feb. 14, 2014 | Dec. 19, 2013 | Nov. 01, 2013 | Mar. 31, 2015 | Mar. 31, 2014 |
Sale of stock during period, shares | 115,942 | 65,789 | 147,059 | 483,871 | 200,000 | 100,000 | 200,000 | 150,000 | 75,000 | |||||
Process from common stock | $ 50,000 | $ 150,000 | $ 150,000 | $ 150,000 | $ 150,000 | $ 75,000 | $ 540,000 | $ 375,000 | ||||||
Subsequent Event [Member] | Investor [Member] | ||||||||||||||
Sale of stock during period, shares | 130,435 | 147,058 | 54,794 | |||||||||||
Process from common stock | $ 30,000 | $ 50,000 | $ 40,000 |