Transportation and Logistics Systems (TLSS) 10-Q 16 Feb 16 2016 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Dec. 31, 2015	Feb. 11, 2016
Document And Entity Information
Entity Registrant Name	PETROTERRA CORP.
Entity Central Index Key	1,463,208
Document Type	10-Q
Document Period End Date	Dec. 31, 2015
Amendment Flag	false
Current Fiscal Year End Date	--03-31
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		27,251,466
Trading Symbol	PTRA
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2,016

Balance Sheets (Unaudited)

Balance Sheets (Unaudited) - USD ($)	Dec. 31, 2015	Mar. 31, 2015
Current assets
Cash
Prepaid expenses	$ 3,750	$ 1,875
Total current assets	3,750	1,875
Oil & Gas Exploration	737,500	737,500
Fixed Assets, net of accumulated depreciation of $1,155 and $462 as of December 31, 2015 and March 31, 2015, respectively	1,617	2,310
Website, net of accumulated amortization of $18,662 and $11,502, as of December 31, 2015 and March 31, 2015, respectively	11,141	18,301
Total Assets	754,008	759,986
Current Liabilities
Bank overdraft	352	435
Accounts payable and accrued expenses	97,934	121,708
Accrued liabilities, director	26,250	25,000
Notes payable, related-party	10,118	10,118
Total current liabilities	134,654	157,261
Total liabilities	$ 134,654	$ 157,261
Shareholders' Equity
Preferred Stock: $0.001 par value, 4,000,000 shares authorized; no shares issued and outstanding as of December 31, 2015 and March 31, 2015.
Common stock; $0.001 par value, 40,000,000 shares authorized; 26,993,640 and 26,316,922 shares issued and outstanding as of December 31, 2015 and March 31, 2015, respectively	$ 26,994	$ 26,317
Common stock payable	50,000
Additional paid-in capital	2,310,591	$ 1,943,668
Accumulated deficit	(1,768,231)	(1,367,260)
Total shareholders' equity	619,354	602,725
Total liabilities and shareholders' equity	$ 754,008	$ 759,986

Balance Sheets (Unaudited) (Par

Balance Sheets (Unaudited) (Parenthetical) - USD ($)	Dec. 31, 2015	Mar. 31, 2015
Statement of Financial Position [Abstract]
Fixed Assets, accumulated depreciation	$ 1,155	$ 462
Website, accumulated amortization	$ 18,662	$ 11,502
Preferred Stock, par value	$ 0.001	$ 0.001
Preferred Stock, shares authorized	4,000,000	4,000,000
Preferred Stock, shares issued
Preferred stock, shares outstanding
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	40,000,000	40,000,000
Common stock, shares issued	26,993,640	26,316,922
Common Stock, shares outstanding	26,993,640	26,316,922

Statements of Operations (Unaud

Statements of Operations (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2015	Dec. 31, 2014
EXPENSES
Lease property and exploration costs	$ 24,000	$ 39,661	$ 70,686	$ 88,608
General and administrative expenses	60,136	43,514	140,974	124,966
Professional fees	31,888	$ 45,648	123,711	141,186
Stock compensation expense	48,000		65,600	41,000
Net loss from Operation before Taxes	$ (164,024)	$ (128,823)	$ (400,971)	$ (395,760)
PROVISION FOR INCOME TAXES
NET LOSS	$ (164,024)	$ (128,823)	$ (400,971)	$ (395,760)
(LOSS) PER COMMON SHARE - BASIC AND DILUTED	$ (0.01)	$ (0.01)	$ (0.02)	$ (0.02)
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING	26,967,599	25,996,627	26,640,652	25,821,899

Statements of Cash Flows (Unaud

Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
OPERATING ACTIVITIES
Net income (loss)	$ (400,971)	$ (395,760)
Adjustments to reconcile net income (loss) to net cash used in operating activities:
Depreciation and amortization	7,853	7,206
Common stock issued for Services	65,600	$ 41,000
Increase (decrease) in:
Bank overdraft	(84)
Accounts payables and accrued liabilities	(23,773)	$ 34,526
Prepaids	(1,875)	(3,750)
Accrued payroll, officer	1,250	5,000
Net cash used in operating activities	$ (352,000)	(311,778)
INVESTING ACTIVITIES
Investment in fixed assets		(2,772)
Investment in Oil & Gas Exploration		(100,000)
Net cash used in investing activities		(102,772)
FINANCING ACTIVITIES
Sales of Common stock	$ 352,000	410,000
Net cash provided by financing activities	$ 352,000	410,000
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		(4,550)
CASH AND CASH EQUIVALENTS - BEGINNING OF PERIOD		9,037
CASH AND CASH EQUIVALENTS - END OF PERIOD		$ 4,487
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	$ 65,600	$ 41,000
Common stock issued for the acquisition of land lease		$ 187,500

Organization and Business Opera

Organization and Business Operations	9 Months Ended
	Dec. 31, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
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 an independent exploration and development company focused on the acquisition of property (or property leases enabling us to explore and exploit such property) that we believe may contain extractable oil and/or gas. The Company 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.

Going Concern

Going Concern	9 Months Ended
	Dec. 31, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
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 $1,768,231 as of December 31, 2015 and further losses are anticipated in the development of its business raising substantial doubt about the Company’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	9 Months Ended
	Dec. 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. It is suggested that these unaudited interim financial statements be read in conjunction with the financial statements of the Company for the year ended March 31, 2015 and notes thereto included in the Company’s annual report on Form 10-K. The Company follows the same accounting policies in the preparation of its annual and interim reports. Cash and Cash Equivalents The Company considers all highly liquid instruments with a maturity date 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 July 1, 2015, the Company As a result of the Reverse Stock Split, the Company’s authorized shares of common stock were decreased from 100,000,000 to 40,000,000 shares and its authorized shares of preferred stock were decreased from 10,000,000 to 4,000,000 shares. Upon the effectiveness of the Reverse Stock Split, which occurred on July 1, 2015, the Company’s issued and outstanding shares of common stock was decreased from approximately 66,125,000 to 26,450,000 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. 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 nine months ended December 31, 2015 and 2014 totaled $7,160 and $6,576, 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 Advertising The Company follows the policy of charging the costs of advertising to expenses incurred. The Company incurred $0 in advertising costs during the nine months ended December 31, 2015 and 2014, respectively. 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, 2017 and 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.

Acquisition of Oil and Gas Prop

Acquisition of Oil and Gas Properties	9 Months Ended
	Dec. 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 an aggregate of 200,000 shares (100,000 share installments) of our common stock on November 18, 2013 and April 12, 2014 in order to complete the assignment. Furthermore, on December 12, 2013, February 12, 2014 and April 12, 2014, the Company made three installment payments of $100,000 each to Pioneer. 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 issued to Ardmore was determined based on the price at which the Company’s shares were most recently being sold in a private placement transaction.

Common Stock

Common Stock	9 Months Ended
	Dec. 31, 2015
Equity [Abstract]
Common Stock	5. COMMON STOCK The Company’s authorized capital consists of 40,000,000 shares of common stock and 4,000,000 shares of preferred stock, both with a par value of $0.001 per share. On July 1, 2015, the Company effectuated a reverse stock split of its outstanding and authorized shares of common stock at a ratio of 1 for 2.5. As a result of the Reverse Stock Split, the Company’s authorized shares of common stock were decreased from 100,000,000 to 40,000,000 shares and its authorized shares of preferred stock were decreased from 10,000,000 to 4,000,000 shares. Upon the effectiveness of the Reverse Stock Split, which occurred on July 1, 2015, the Company’s issued and outstanding shares of common stock was decreased from 66,124,593 to 26,449,868 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 in this Report to retroactively show the effect of the Reverse Stock Split. On April 27, 2015, the Company sold a total of 21,918 shares of common stock to an investor for gross proceeds of $40,000. On June 1, 2015, the Company sold a total of 58,823 shares of common stock to an investor for gross proceeds of $50,000. On June 12, 2015, the Company sold a total of 52,174 shares of common stock to an investor for gross proceeds of $30,000. On August 5, 2015, the Company sold a total of 75,862 shares of common stock to an investor for gross proceeds of $22,000. On August 12, 2015, the Company sold a total of 75,000 shares of common stock to an investor for gross proceeds of $30,000. On September 11, 2015, the Company sold a total of 142,857 shares of common stock to an investor for gross proceeds of $50,000. On September 14, 2015, the Company sold a total of 105,263 shares of common stock to an investor for gross proceeds of $40,000. On September 16, 2015, the Company authorized the issuance of 40,000 shares of common stock to the Company’s Chief Operating Officer for consulting services. The fair value of the shares of common stock was $17,600. On October 13, 2015, the Company sold a total of 54,790 shares of common stock to an investor for gross proceeds of $40,000. On October 22, 2015, the Company entered into a private placement for 108,700 shares of common stock for gross proceeds of $100,000. On November 10, 2015, the Company received $50,000 of the proceeds. On January 29, 2016, the private placement was amended and the parties agreed that the investor would reduce its investment by $10,000 to an aggregate of $90,000 and would be issued an aggregate of 97,826 shares of common stock. The remaining $40,000 was received on January 29, 2016, wherein, the Company issued the shares. At December 31, 2015, the $50,000 that was originally owed was recorded to common stock payable. On October 26, 2015, the Company authorized the issuance of 50,000 shares of common stock to the Company’s Chief Operating Officer for consulting services. The fair value of the shares of common stock was $48,000. As of December 31, 2015, the Company had 26,993,640 shares of common stock issued and outstanding.

Income Taxes

Income Taxes	9 Months Ended
	Dec. 31, 2015
Income Tax Disclosure [Abstract]
Income Taxes	6. INCOME TAXES As of December 31, 2015, the Company had net operating loss carry forwards of approximately $1,724,000 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.

Related Party Transactions

Related Party Transactions	9 Months Ended
	Dec. 31, 2015
Related Party Transactions [Abstract]
Related Party Transactions	7. RELATED PARTY TRANSACTIONS Chief Executive Officer 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 December 31, 2015 and March 31, 2015, the total amount loaned to the Company by a director was $10,118. The loan is non-interest bearing, due upon demand and unsecured. On February 4, 2014, the Company entered into a three year employment agreement with the Company’s Chief Executive Officer whereby the Company provides for compensation of $10,000 per month. A total salary of $90,000 was expensed during the nine months ended December 31, 2015 and 2014. The total balance due to the Chief Executive Officer for accrued salaries at December 31, 2015 and March 31, 2015, was $26,250 and $25,000, respectively. Additionally, on each anniversary of the Employment Agreement, beginning on the first anniversary, Mr. Barton has received and will continue to receive for the duration of the employment agreement a restricted stock grant of 160,000 shares of the Company’s common stock. The restricted stock grants vest 10 months following the issuance. Chief Operating Officer On October 26, 2015, the Company renewed its independent contractor agreement with Arrow Peak Minerals and Royalty LLC (“Arrow”) so that Kurt Reinecke would continue to act in the role of the Company’s Chief Operating Officer. The agreement is for a term of one year and will pay Arrow an aggregate of $90,000 over the term. Arrow is also entitled to receive an aggregate of 150,000 shares of common stock to be earned as follows: (i) 50,000 shares were issued upon execution of the agreement; (ii) 50,000 shares will be issued upon the six month anniversary of the commencement of the agreement; and (iii) 50,000 shares will be issued upon the one year anniversary of the commencement of the agreement.

Subsequent Event

Subsequent Event	9 Months Ended
	Dec. 31, 2015
Subsequent Events [Abstract]
Subsequent Event	8. SUBSEQUENT EVENT The Company has evaluated subsequent events from December 31, 2015 through the filing of these financial statements. There are no significant subsequent events, except as disclosed below; Securities Purchase Agreement The Company entered into securities purchase agreement with a foreign investor (the “Investor”) exempt pursuant to Regulation S promulgated under the Securities Act of 1933, as amended (the “Securities Act”), pursuant to which the Company sold an aggregate of 108,700 shares of the Company’s common stock for gross proceeds of $100,000. On January 29, 2016, the private placement was amended and the parties agreed that the investor would reduce its investment by $10,000 to an aggregate of $90,000 and would be issued an aggregate of 97,826 shares of common stock. The remaining $40,000 was received on January 29, 2016, wherein, the Company issued the shares. At December 31, 2015, the $50,000 that was originally owed by the Investor has been recorded as common stock payable. See disclosure in Note 5. Restricted stock grant On February 9, 2016, the Company issued a restricted stock grant of 160,000 shares of common stock to John Barton, the Company’s Chief Executive Officer, in accordance with his employment agreement dated February 4, 2014, The restricted stock grant will vest 10 months following the issuance.

Summary of Significant Accoun14

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Dec. 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. It is suggested that these unaudited interim financial statements be read in conjunction with the financial statements of the Company for the year ended March 31, 2015 and notes thereto included in the Company’s annual report on Form 10-K. The Company follows the same accounting policies in the preparation of its annual and interim reports.
Cash and Cash Equivalents	Cash and Cash Equivalents The Company considers all highly liquid instruments with a maturity date 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 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	Foreign Currency Translation The Company’s functional currency and its reporting currency is the United States dollar.
Stock Split	Stock Split On July 1, 2015, the Company As a result of the Reverse Stock Split, the Company’s authorized shares of common stock were decreased from 100,000,000 to 40,000,000 shares and its authorized shares of preferred stock were decreased from 10,000,000 to 4,000,000 shares. Upon the effectiveness of the Reverse Stock Split, which occurred on July 1, 2015, the Company’s issued and outstanding shares of common stock was decreased from approximately 66,125,000 to 26,450,000 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 Company’s fiscal year end is March 31.
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 nine months ended December 31, 2015 and 2014 totaled $7,160 and $6,576, 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
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 nine months ended December 31, 2015 and 2014, respectively.
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, 2017 and 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.

Summary of Significant Accoun15

Summary of Significant Accounting Policies (Tables)	9 Months Ended
	Dec. 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

Going Concern (Details Narrativ

Going Concern (Details Narrative) - USD ($)	Dec. 31, 2015	Mar. 31, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Accumulated deficit	$ 1,768,231	$ 1,367,260

Summary of Significant Accoun17

Summary of Significant Accounting Policies (Details Narrative) - USD ($)	Jul. 02, 2015	Dec. 31, 2015	Dec. 31, 2014	Mar. 31, 2015
Reverse stock split	ratio of 1 for 2.5
Common stock, shares authorized		40,000,000		40,000,000
Preferred stock, shares authorized		4,000,000		4,000,000
Common stock, shares outstanding		26,993,640		26,316,922
Common stock, shares issued		26,993,640		26,316,922
Common stock, par value	$ 0.001	$ 0.001		$ 0.001
Preferred stock, outstanding	0
Website estimated useful life		3 years
Amortization expense		$ 7,160	$ 6,576
Advertising cost		$ 0	$ 0
Maximum [Member]
Common stock, shares authorized	100,000,000
Preferred stock, shares authorized	10,000,000
Common stock, shares outstanding	66,125,000
Common stock, shares issued	66,125,000
Minimum [Member]
Common stock, shares authorized	40,000,000
Preferred stock, shares authorized	4,000,000
Common stock, shares outstanding	26,450,000
Common stock, shares issued	26,450,000

Summary of Significant Accoun18

Summary of Significant Accounting Policies - Estimated Useful Life of Property and Equipment (Details)	9 Months Ended
	Dec. 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 Pr19

Acquisition of Oil and Gas Properties (Details Narrative)	Nov. 18, 2013USD ($)ashares
Ardmore And Pioneer Oil And Gas [Member]
Acres of oil and gas selling | a	5,905.54
Ardmore [Member]
Issuance of stock	200,000
Ardmore [Member] | November 18, 2013 and April 12, 2014 [Member]
Numebr of shares issued in installments	100,000
Ardmore [Member] | December 12, 2013, February 12, 2014 And April 12, 2014 [Member]
Installment payment of acquire oil and gas | $	$ 100,000

Common Stock (Details Narrative

Common Stock (Details Narrative) - USD ($)	Nov. 10, 2015	Oct. 26, 2015	Oct. 22, 2015	Oct. 13, 2015	Sep. 16, 2015	Sep. 14, 2015	Sep. 11, 2015	Aug. 12, 2015	Aug. 05, 2015	Jul. 02, 2015	Jun. 12, 2015	Jun. 01, 2015	Apr. 27, 2015	Dec. 31, 2015	Dec. 31, 2014	Mar. 31, 2015
Common stock, shares authorized														40,000,000		40,000,000
Preferred stock, authorized														4,000,000		4,000,000
Common stock, par value										$ 0.001				$ 0.001		$ 0.001
Preferred stock, par value										$ 0				$ 0.001		$ 0.001
Equity stock split description										ratio of 1 for 2.5
Common stock, shares issued														26,993,640		26,316,922
Common stock, shares outstanding														26,993,640		26,316,922
Proceeds from issuance of common stock														$ 352,000	$ 410,000
Number of stock shares issued for consulting services, amount														65,600	$ 41,000
Common stock payable														50,000
Chief Operating Officer [Member]
Number of stock shares issued for consulting services		50,000			40,000
Number of stock shares issued for consulting services, amount		$ 48,000			$ 17,600
Investor [Member]
Sale of stock during period, shares				54,790		105,263	142,857	75,000	75,862		52,174	58,823	21,918
Proceeds from issuance of common stock				$ 40,000		$ 40,000	$ 50,000	$ 30,000	$ 22,000		$ 30,000	$ 50,000	$ 40,000
Investor [Member] | January 29, 2016 [Member]
Proceeds from issuance of common stock														40,000
Reduction in aggregate investment														10,000
Investment														$ 90,000
Number of common stock shares issued for investment														97,826
Private Placement [Member]
Sale of stock during period, shares			108,700
Proceeds from issuance of common stock	$ 50,000		$ 100,000
Maximum [Member]
Common stock, shares authorized										100,000,000
Preferred stock, authorized										10,000,000
Common stock, shares issued										66,125,000
Common stock, shares outstanding										66,125,000
Minimum [Member]
Common stock, shares authorized										40,000,000
Preferred stock, authorized										4,000,000
Common stock, shares issued										26,450,000
Common stock, shares outstanding										26,450,000

Income Taxes (Details Narrative

Income Taxes (Details Narrative)	9 Months Ended
	Dec. 31, 2015USD ($)
Income Tax Disclosure [Abstract]
Net operating loss carry forwards	$ 1,724,000
Operating loss carryforward expiration year	2,034

Related Party Transactions (Det

Related Party Transactions (Details Narrative) - USD ($)	Oct. 26, 2015	Feb. 04, 2014	Dec. 31, 2015	Dec. 31, 2014	Mar. 31, 2015
Loan from Director			$ 10,118		$ 10,118
Salary expense			90,000	$ 90,000
Accrued salaries			$ 26,250		$ 25,000
Employment Agreement [Member] | Chief Executive Officer [Member]
Compensation		$ 10,000
Employment Agreement [Member] | John Barton [Member] | Restricted Stock [Member]
Number of common stock shares granted		160,000
Stock vested period		10 months
Independent Contractor Agreement [Member] | Arrow Peak Minerals and Royalty LLC [Member]
Compensation	$ 90,000
Number of common stock earned during period	150,000
Number of shares issued upon execution of agreement	50,000
Independent Contractor Agreement [Member] | Six Month Anniversary Commencement Agreement [Member] | Arrow Peak Minerals and Royalty LLC [Member]
Number of shares issued upon commencement of agreement	50,000
Independent Contractor Agreement [Member] | One Year Anniversary Commencement Agreement [Member] | Arrow Peak Minerals and Royalty LLC [Member]
Number of shares issued upon commencement of agreement	50,000

Subsequent Event (Details Narra

Subsequent Event (Details Narrative) - USD ($)	Feb. 09, 2016	Jan. 29, 2016	Feb. 04, 2014	Dec. 31, 2015	Dec. 31, 2014	Mar. 31, 2015
Proceeds from common stock				$ 352,000	$ 410,000
Common stock payable				$ 50,000
John Barton [Member] | Employment Agreement [Member] | Restricted Stock [Member]
Number of common stock shares granted			160,000
Stock vested period			10 months
Subsequent Event [Member] | Investor [Member]
Proceeds from common stock		$ 40,000
Reduction in aggregate investment		10,000
Investment		$ 90,000
Number of common stock shares issued for investment		97,826
Subsequent Event [Member] | John Barton [Member] | Employment Agreement [Member] | Restricted Stock [Member]
Number of common stock shares granted	160,000
Stock vested period	10 months
Subsequent Event [Member] | Private Placement [Member]
Sale of stock during period, shares				108,700
Proceeds from common stock				$ 100,000