Cover
Cover - USD ($) | 12 Months Ended | |||
Mar. 31, 2023 | Mar. 31, 2022 | Jul. 14, 2023 | Sep. 30, 2022 | |
Cover [Abstract] | ||||
Document Type | 10-K | |||
Amendment Flag | false | |||
Document Annual Report | true | |||
Document Transition Report | false | |||
Document Period End Date | Mar. 31, 2023 | |||
Document Fiscal Period Focus | FY | |||
Document Fiscal Year Focus | 2023 | |||
Current Fiscal Year End Date | --03-31 | |||
Entity File Number | 000-56060 | |||
Entity Registrant Name | BlueOne Card, Inc. | |||
Entity Central Index Key | 0001496690 | |||
Entity Tax Identification Number | 26-0478989 | |||
Entity Incorporation, State or Country Code | NV | |||
Entity Address, Address Line One | 4695 MacArthur Court | |||
Entity Address, Address Line Two | Suite 1100 | |||
Entity Address, City or Town | Newport Beach | |||
Entity Address, State or Province | CA | |||
Entity Address, Postal Zip Code | 92660 | |||
City Area Code | (800) | |||
Local Phone Number | 210-9755 | |||
Title of 12(g) Security | Common Stock, Par Value $0.001 | |||
Entity Well-known Seasoned Issuer | No | |||
Entity Voluntary Filers | No | |||
Entity Current Reporting Status | Yes | |||
Entity Interactive Data Current | Yes | |||
Entity Filer Category | Non-accelerated Filer | |||
Entity Small Business | true | |||
Entity Emerging Growth Company | false | |||
Entity Shell Company | false | |||
Entity Public Float | $ 10,870,319 | |||
Entity Common Stock, Shares Outstanding | 12,033,704 | |||
Documents Incorporated by Reference [Text Block] | None | |||
ICFR Auditor Attestation Flag | false | |||
Document Financial Statement Error Correction [Flag] | false | |||
Auditor Firm ID | 106 | 6717 | ||
Auditor Name | Salberg & Company, P.A. | SS Accounting & Auditing, Inc | ||
Auditor Location | Boca Raton, Florida | Plano, Texas |
Balance Sheets
Balance Sheets - USD ($) | Mar. 31, 2023 | Mar. 31, 2022 |
Current Assets | ||
Cash | $ 668,118 | $ 41,318 |
Inventory | 74,500 | 77,900 |
Prepaid assets | 7,048 | 192,606 |
Total Current Assets | 749,666 | 311,824 |
Property and equipment, net | 47,287 | 135,285 |
Software development | 145,892 | |
Right-of-use asset | 48,401 | |
Total Assets | 991,246 | 447,109 |
Current Liabilities | ||
Accounts payable and accrued liabilities | 79,543 | 39,098 |
Compensation payable to officer | 380,750 | 207,500 |
Related party payables | $ 25,765 | $ 32,512 |
Other Liability, Current, Related and Nonrelated Party Status [Extensible Enumeration] | Related Party [Member] | Related Party [Member] |
Customer deposits | $ 20,000 | |
Loan payable, current portion | 12,699 | |
Lease liability - current maturity | 17,384 | |
Total Current Liabilities | 503,442 | 311,809 |
Loan payable, non-current portion | 43,759 | |
Lease liability - net of current maturity | 24,862 | |
Total Liabilities | 528,304 | 355,568 |
Commitments and Contingencies (See Note 8) | ||
Stockholders’ Equity | ||
Preferred stock, $0.001 par value; 25,000,000 shares authorized, 292,000 shares issued and outstanding at March 31, 2023 and 2022, respectively | 292 | 292 |
Common stock, $0.001 par value; 500,000,000 shares authorized, 10,336,004 and 9,979,575 shares issued and outstanding at March 31, 2023 and 2022, respectively | 10,336 | 9,980 |
Additional paid in capital | 2,093,226 | 1,221,082 |
Stock subscriptions received | 617,700 | |
Accumulated deficit | (2,258,612) | (1,139,813) |
Total Stockholders’ Equity | 462,942 | 91,541 |
Total Liabilities and Stockholders’ Equity | $ 991,246 | $ 447,109 |
Balance Sheets (Parenthetical)
Balance Sheets (Parenthetical) - $ / shares | Mar. 31, 2023 | Mar. 31, 2022 |
Statement of Financial Position [Abstract] | ||
Preferred stock, par value | $ 0.001 | $ 0.001 |
Preferred stock, shares authorized | 25,000,000 | 25,000,000 |
Preferred stock, shares issued | 292,000 | 292,000 |
Preferred stock, shares outstanding | 292,000 | 292,000 |
Common stock, par value | $ 0.001 | $ 0.001 |
Common stock, shares authorized | 500,000,000 | 500,000,000 |
Common stock, shares issued | 10,336,004 | 9,979,575 |
Common stock, shares outstanding | 10,336,004 | 9,979,575 |
Statements of Operations
Statements of Operations - USD ($) | 12 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Income Statement [Abstract] | ||
Revenues | $ 25,000 | $ 72,200 |
Cost of sales | 14,000 | 54,778 |
Cost of sales - Inventory reserve | 26,385 | |
Gross Profit (Loss) | (15,385) | 17,422 |
Operating Expenses | ||
Legal and filing fees | 44,102 | 32,631 |
Rent | 99,598 | 73,348 |
General and administrative | 954,786 | 439,706 |
Total Operating Expenses | 1,098,486 | 545,685 |
Loss from Operations | (1,113,871) | (528,263) |
Other Income (Expense) | ||
Interest expense | (4,928) | (2,563) |
Total Other Income (Expense) | (4,928) | (2,563) |
Loss before Income Taxes | (1,118,799) | (530,827) |
Provision for Income Tax | ||
Net Loss | $ (1,118,799) | $ (530,827) |
Basic and Diluted Net Loss Per Share | $ (0.11) | $ (0.05) |
Weighted Average Number of Shares Outstanding - Basic and Diluted | 10,293,125 | 9,935,412 |
Statements of Stockholders' Equ
Statements of Stockholders' Equity (Deficit) - USD ($) | Preferred Stock [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | Subscriptions Received [Member] | Retained Earnings [Member] | Total |
Balance at Mar. 31, 2021 | $ 292 | $ 9,890 | $ 1,042,172 | $ (608,986) | $ 443,368 | |
Balance, shares at Mar. 31, 2021 | 292,000 | 9,890,075 | ||||
Sale of common stock | $ 90 | 178,910 | 179,000 | |||
Sale of common stock, shares | 89,500 | |||||
Net loss | (530,827) | (530,827) | ||||
Balance at Mar. 31, 2022 | $ 292 | $ 9,980 | 1,221,082 | (1,139,813) | 91,541 | |
Balance, shares at Mar. 31, 2022 | 292,000 | 9,979,575 | ||||
Sale of common stock | $ 106 | 372,394 | $ 372,500 | |||
Sale of common stock, shares | 106,429 | 250,000 | ||||
Common stock issued for services | $ 250 | 499,750 | $ 500,000 | |||
Common stock issued for services, shares | 250,000 | |||||
Stock subscriptions received | 617,700 | 617,700 | ||||
Net loss | (1,118,799) | (1,118,799) | ||||
Balance at Mar. 31, 2023 | $ 292 | $ 10,336 | $ 2,093,226 | $ 617,700 | $ (2,258,612) | $ 462,942 |
Balance, shares at Mar. 31, 2023 | 292,000 | 10,336,004 |
Statements of Cash Flows
Statements of Cash Flows - USD ($) | 12 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Cash Flows From Operating Activities: | ||
Net loss | $ (1,118,799) | $ (530,827) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Depreciation | 32,470 | 42,388 |
Inventory reserve | 26,385 | |
Non-cash rent expense | (6,155) | |
Loss on sale of vehicle | 2,196 | |
Stock compensation expense | 500,000 | |
Changes in operating assets and liabilities: | ||
(Increase) in inventory | (22,985) | (28,587) |
Decrease (Increase) in prepaid deposits | 68,366 | (86,847) |
Increase in accounts payable and accrued liabilities | 40,445 | 11,600 |
(Decrease) in customer deposits | (20,000) | |
Increase in compensation payable to officer | 173,250 | 157,500 |
(Decrease) in related party payables | (6,747) | (17,699) |
Net Cash Used In Operating Activities | (331,574) | (452,472) |
Cash Flows From Investing Activities: | ||
Cash paid for purchase of software development costs | (28,700) | |
Cash paid for purchase of property and equipment | (13,500) | |
Net Cash Used In Investing Activities | (28,700) | (13,500) |
Cash Flows From Financing Activities: | ||
Cash proceeds from sale of common stock | 372,500 | 179,000 |
Cash received from stock subscriptions | 617,700 | |
Cash paid for loan payable | (3,126) | (12,212) |
Net Cash Provided By Financing Activities | 987,074 | 166,788 |
Net Increase (Decrease) in Cash | 626,800 | (299,184) |
Cash - Beginning of the Year | 41,318 | 340,502 |
Cash - End of the Year | 668,118 | 41,318 |
Supplemental Disclosures of Cash Flows | ||
Cash paid for interest | 3,510 | 2,520 |
Cash paid for income taxes | ||
Supplemental Disclosures of Non-Cash Investing and Financing Activities | ||
Sale of vehicle | 53,494 | |
Present value of initial lease liability and right-of-use asset | 62,113 | |
Reclassification of prepaid assets to software development | $ 117,192 |
NATURE OF OPERATIONS AND GOING
NATURE OF OPERATIONS AND GOING CONCERN | 12 Months Ended |
Mar. 31, 2023 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
NATURE OF OPERATIONS AND GOING CONCERN | NOTE 1 – NATURE OF OPERATIONS AND GOING CONCERN BlueOne Card, Inc. (“BlueOne” or the “Company”), was incorporated on July 6, 2007 under the laws of the state of Nevada. The Company provides innovative payout solutions and prepaid debit card and gift card solutions to consumers and corporations transforming card-to-card cross border real time global money transfers. Risk and Uncertainty Concerning COVID-19 Pandemic The global COVID-19 pandemic continues to present uncertainty and unforeseeable risks to the Company’s operations and business plan. The Company has closely monitored recent developments, including the lifting of COVID-19 safety measures, the spread of new strains or variants of the coronavirus (such as the Delta and Omicron variants), and supply chain and labor shortages. Thus, the full impact of the COVID-19 pandemic on the business and operations remains uncertain and will vary depending on the pandemic’s future impact on the third parties with whom the Company does business, as well as any legal or regulatory consequences resulting therefrom. The Company has been following the recommendations of health authorities to minimize exposure risk for its team members and may take further actions that alter our operations, including any required by federal, state or local authorities, or that it determines are in the best interests of its employees and other third parties with whom the Company does business. Going Concern The financial statements have been prepared on a going concern basis which contemplates the realization of assets and settlement of liabilities and commitments in the normal course of business. The Company has not yet generated any significant revenues and has suffered operating losses since July 6, 2007 (Inception Date) to date. The Company recorded a net loss of $ 1,118,799 331,574 2,258,612 |
SUMMARY OF SIGNIFICANT ACCOUNTI
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 12 Months Ended |
Mar. 31, 2023 | |
Accounting Policies [Abstract] | |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The following summary of significant accounting policies of the Company is presented to assist in the understanding of the Company’s financial statements. These accounting policies conform to GAAP in all material respects and have been consistently applied in preparing the accompanying financial statements. Reclassifications The Company reclassified $ 77,900 207,500 Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The Company regularly evaluates estimates and assumptions related to the valuation of its assets, liabilities, equity and operations. The Company bases its estimates and assumptions on current facts, historical experience and various other factors that it believes to be reasonable under the circumstances, the results of which form the basis for making judgments about its estimates that are not readily apparent from other sources. Significant estimates in the accompanying financial statements include the valuation of inventory, software development costs, right-of-use assets, stock-based compensation and deferred tax assets. The actual results experienced by the Company may differ materially and adversely from the Company’s estimates. To the extent there are material differences between the estimates and the actual results, future results of operations will be affected. 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. The Company did no Concentrations Cash Concentration Cash is maintained at one financial institution and at times, balances may exceed federally insured limits. We have not experienced any losses related to these balances. As of March 31, 2023, the Company had balances in a financial institution which exceeded federally insured limits by approximately $ 418,000 Customer Concentration For the year ended March 31, 2023, 100 100 Significant Vendor and Concentration The Company relies solely on one vendor for key components and processing services related to the manufacturing, distribution and servicing of its prepaid debit cards and gift cards. The same vendor is also the sole developer and provider of the software for Company’s operations. Inventory Inventory is finished goods which consists of plastic prepaid debit cards and gift cards and is valued at the lower of cost or net realizable value using the specific identification method. The reported net value of inventory includes saleable prepaid debit cards and gift cards that will be sold or used in future periods. The Company reserves for obsolete and slow-moving inventory. At March 31, 2023 and 2022, the Company recorded a reserve of $ 26,385 0 Property and Equipment Property and equipment are recorded at cost, less accumulated depreciation. The Company provides for depreciation on a straight-line basis over the estimated useful lives of the assets which range from three five years Software Development Costs Costs incurred to develop internal-use software during the preliminary project stage are expensed as incurred. Internal-use software development costs are capitalized during the application development stage, which is after: (i) the preliminary project stage is completed; and (ii) management authorizes and commits to funding the project and it is probable the project will be completed and used to perform the function intended. Capitalization ceases at the point the software project is substantially complete and ready for its intended use, and after all substantial testing is completed. Upgrades and enhancements are capitalized if it is probable that those expenditures will result in additional functionality. Amortization is provided for on a straight-line basis over the expected useful life of five years The Company conducts a qualitative assessment of internal-use software impairment using the guidelines of ASC 350-40-35-1 Internal-Use Software Long-lived Assets The Company tests long-lived assets or asset groups for recoverability in accordance with GAAP, when events or changes in circumstances indicate that their carrying amount may not be recoverable. Circumstances which could trigger a review include, but are not limited to: significant decreases in the market price of the asset; significant adverse changes in the business climate or legal factors; accumulation of costs significantly in excess of the amount originally expected for the acquisition or construction of the asset; current period cash flow or operating losses combined with a history of losses or a forecast of continuing losses associated with the use of the asset; and current expectation that the asset will more likely than not be sold or disposed of significantly before the end of its estimated useful life. Recoverability is assessed based on the carrying amount of the asset compared to the estimated future undiscounted cash flows expected to result from the use and the eventual disposal of the asset, as well as specific appraisal in certain instances. An impairment loss equal to the excess of the carrying value over the assets fair market value is recognized when the carrying amount exceeds the undiscounted cash flows. The impairment loss is recorded as an expense and a direct write-down of the asset. No Leases The Company has operating leases for its offices. Management determines if an arrangement is a lease at inception of the contract and whether a contract is or contains a lease by determining whether it conveys the right to control the use of the identified asset for a period of time. If the contract provides the Company the right to substantially all of the economic benefits from the use of the identified asset and the right to direct the use of the identified asset, the Company consider it to be, or contain, a lease. The Company accounts for its vehicle leases under ASC 842, Leases. In calculating the right of use asset and lease liability, the Company elects to combine lease and non-lease components as permitted under ASC 842. The Company excludes short-term leases having initial terms of 12 months or less from the new guidance as an accounting policy election and recognizes rent expense on a straight-line basis over the lease term. Fair value of Financial Instruments and Fair Value Measurements ASC 820, “ Fair Value Measurements and Disclosures”, Level 1 applies to assets or liabilities for which there are quoted prices in active markets for identical assets or liabilities. Level 2 applies to assets or liabilities for which there are inputs other than quoted prices that are observable for the asset or liability such as quoted prices for similar assets or liabilities in active markets; quoted prices for identical assets or liabilities in markets with insufficient volume or infrequent transactions (less active markets); or model-derived valuations in which significant inputs are observable or can be derived principally from, or corroborated by, observable market data. If the asset or liability has a specified (contractual) term, the Level 2 input must be observable for substantially the full term of the asset or liability. Level 3 applies to assets or liabilities for which there are unobservable inputs to the valuation methodology that are significant to the measurement of the fair value of the assets or liabilities. The Company’s financial instruments consist principally of prepaid assets, accounts payable and accrued liabilities, related party payable, and lease payable. The Company believes that the recorded values of all the financial instruments approximate their current fair values because of their nature and respective maturity dates or durations. Revenue Recognition The Company recognizes revenues from card sales when the product is deemed delivered to the customer, and the ownership/control is transferred. The Company will recognize revenue from card service fees and card transactions once the service or transaction is completed, respectively. The Company’s revenue recognition policy is based on the revenue recognition criteria established under the Financial Accounting Standards Board – Accounting Standards Codification 606 “Revenue From Contracts With Customers Stock-based Compensation The Company accounts for equity-based transactions with non-employees under the provisions of ASC Topic No. 505-50, Equity-Based Payments to Non-Employees The Company accounts for employee stock-based compensation in accordance with the guidance of ASC Topic 718, Compensation—Stock Compensation. Research and Development Costs Costs incurred for research and development are expensed as incurred. The salaries, benefits, and overhead costs of personnel conducting research and development of the Company’s products comprise research and development expenses. Purchased materials that do not have an alternative future use are also expensed. The Company recorded research and development costs of $ 2,240 7,035 Income Taxes The Company accounts for income taxes using the asset and liability method in accordance with ASC 740, “ Income Taxes” The Company follows the provisions of ASC 740-10, “ Accounting for Uncertain Income Tax Positions more than 50 percent Earnings (Loss) Per Common Share The Company computes earnings (loss) per share in accordance with ASC 260, “ Earnings per Share” SCHEDULE OF EARNING PER SHARE 2023 2022 For the Year Ended March 31, 2023 2022 Net loss computation of basic and diluted net loss per common share: Net loss attributable to common stockholders $ (1,118,799 ) $ (530,827 ) Basic and diluted net loss per share: Basic and diluted net loss per common share $ (0.11 ) $ (0.05 ) Basic and diluted weighted average common shares outstanding 10,293,125 9,935,412 Potential dilutive securities that are not included in the calculations of diluted net loss per share because their effect is anti-dilutive, are as follows as of March 31, (in common equivalent shares): SCHEDULE OF ANTI-DILUTIVE SECURITIES OF EARNING PER SHARE March 31, 2023 March 31, 2022 Preferred stock 292,000,000 292,000,000 Total anti-dilutive weighted average shares 292,000,000 292,000,000 Recent Accounting Pronouncements In March 2020, the FASB issued ASU 2020-04, “ Facilitation of the Effects of Reference Rate Reform on Financial Reporting |
INVENTORY
INVENTORY | 12 Months Ended |
Mar. 31, 2023 | |
Inventory Disclosure [Abstract] | |
INVENTORY | NOTE 3 – INVENTORY Inventory of prepaid debit cards and gift cards consisted of the following: SCHEDULE OF INVENTORY OF PREPAID DEBIT CARDS AND GIFT CARDS March 31, 2023 March 31, 2022 Prepaid cards inventory $ 100,885 $ 77,900 Less: reserve to reduce to net realizable value (26,385 ) - Total $ 74,500 $ 77,900 |
PROPERTY AND EQUIPMENT
PROPERTY AND EQUIPMENT | 12 Months Ended |
Mar. 31, 2023 | |
Property, Plant and Equipment [Abstract] | |
PROPERTY AND EQUIPMENT | NOTE 4 – PROPERTY AND EQUIPMENT Property and equipment, stated at cost, consisted of the following: SCHEDULE OF PROPERTY AND EQUIPMENT Estimated Life March 31, 2023 March 31, 2022 Furniture and fixtures 5 years $ 120,519 $ 120,519 Office equipment 3 years 5,500 5,500 Vehicle 5 years - 97,991 Property and equipment, gross 126,019 224,010 Less: Accumulated depreciation (78,732 ) (88,725 ) Total $ 47,287 $ 135,285 On July 15, 2022, the Company sold its vehicle to a third party who agreed to assume the loan outstanding on the vehicle. The net book value of the vehicle upon sale was $ 55,528 53,332 2,196 32,470 42,388 |
SOFTWARE DEVELOPMENT COSTS
SOFTWARE DEVELOPMENT COSTS | 12 Months Ended |
Mar. 31, 2023 | |
Research and Development [Abstract] | |
SOFTWARE DEVELOPMENT COSTS | NOTE 5 – SOFTWARE DEVELOPMENT COSTS In fiscal 2023, the Company capitalized costs of $ 145,892 117,193 SCHEDULE OF SOFTWARE DEVELOPMENT COSTS March 31, 2023 March 31, 2022 Software development cost $ 145,892 $ - Less: Accumulated amortization - - Total $ 145,892 $ - |
RELATED PARTY TRANSACTIONS
RELATED PARTY TRANSACTIONS | 12 Months Ended |
Mar. 31, 2023 | |
Related Party Transactions [Abstract] | |
RELATED PARTY TRANSACTIONS | NOTE 6 – RELATED PARTY TRANSACTIONS The Company’s Chief Executive Officer (“CEO”), from time to time, provided advances to the Company for its working capital purposes. The CEO had advanced funds to the Company totaling $ 25,765 32,512 On December 1, 2020, the Company entered into an employment agreement with its CEO for a three-year term, for an annual compensation of $ 150,000 10% 173,250 157,500 380,750 207,500 |
LOAN PAYABLE
LOAN PAYABLE | 12 Months Ended |
Mar. 31, 2023 | |
Debt Disclosure [Abstract] | |
LOAN PAYABLE | NOTE 7 – LOAN PAYABLE On June 16, 2020, the Company entered into a financing arrangement to purchase a vehicle, and obtained a loan of $ 78,491 72 3.99 1,228 53,332 42,463 55,528 2,196 SCHEDULE OF LOAN PAYABLE March 31, 2023 March 31, 2022 Loan payable $ - $ 56,458 Less: Current portion - (12,699 ) Loan Payable - Non-current portion $ - $ 43,759 The Company recorded interest expense on the loan of $ 557 2,520 The Company uses its credit cards to make purchases in the normal course of business. The Company recorded $ 4,371 43 |
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES | 12 Months Ended |
Mar. 31, 2023 | |
Commitments and Contingencies Disclosure [Abstract] | |
COMMITMENTS AND CONTINGENCIES | NOTE 8 – COMMITMENTS AND CONTINGENCIES Vehicle On July 12, 2022, the Company executed a non-cancellable operating lease for a vehicle with the lease commencing on July 12, 2022 for a three-year term. The Company paid $ 10,000 1,793 8,207 18,190 July 11, 2025 The Company recorded an initial right-of-use asset and lease liability of $ 62,113 Supplemental balance sheet information related to the lease is as follows as of March 31, 2023: SCHEDULE OF SUPPLEMENTAL INFORMATION UNDER OPERATING LEASE Operating Lease Right-of-use asset, net $ 48,401 Current lease liabilities $ 17,384 Non-current lease liabilities 24,862 Total operating lease liabilities $ 42,246 Weighted average remaining lease term (years) 2.25 Weighted average discount rate per annum 12 % As the lease do not provide an implicit rate, the Company used an incremental borrowing rate based on the information available at the lease commencement date in determining the present value of the lease payment, which is reflective of the specific term of the lease. Anticipated future costs are as follows: SCHEDULE OF FUTURE MINIMUM LEASE PAYMENTS UNDER OPERATING LEASES For the years ending Vehicle Lease March 31, 2024 $ 21,518 March 31, 2025 21,518 March 31, 2026 5,379 Total lease payments 48,415 Less: imputed interest (6,169 ) Present value of lease liabilities $ 42,246 Office Lease On August 27, 2020, the Company formally executed a month-to-month cancellable operating lease for leasing office space in an executive suite, commencing on September 1, 2020 for $ 259 259 279 289 3,408 3,348 On October 26, 2020, the Company executed a non-cancellable operating lease agreement for its principal office for a monthly rent of $ 5,500 5,500 6,500 6,500 78,000 70,000 The Company has recorded total rent expense of $ 99,598 73,348 The Company has considered the provisions of ASC 842 Topic 842 “Leases” Legal Costs and Contingencies In the normal course of business, the Company incurs costs to hire and retain external legal counsel to advise it on regulatory, litigation and other matters. The Company expenses these costs as the related services are received. If a loss is considered probable and the amount can be reasonable estimated, the Company recognizes an expense for the estimated loss. If the Company has the potential to recover a portion of the estimated loss from a third party, the Company makes a separate assessment of recoverability and reduces the estimated loss if recovery is also deemed probable. The Company was not aware of any loss contingencies as of March 31, 2023 and 2022, respectively. Employment Agreement On December 1, 2020, the Company entered into an Employment Agreement (the “Agreement”) with its President, CEO, Secretary, and Chairman (the “Officer”). The initial term of the Agreement is for three years and, if written notice is not provided within 90 days of the termination of each term, the term is automatically extended for an additional one-year term. The Agreement may be terminated by either party upon 90 days’ prior written notice. Whether the Agreement is terminated without “Cause,” for “Good Reason,” or for “Cause,” as defined in the Agreement, determines what compensation is owed and when. There is also a 30-day cure period for any termination for “Cause,” as defined in the Agreement. The Agreement contains confidentiality, non-compete, and non-solicitation provisions. Pursuant to the terms of Agreement, Mr. Koh is entitled to bonuses, reimbursement of expenses, a vehicle allowance, four weeks of paid vacation, and other incentives. The Agreement does provide for payments to be made as a result of any “Change in Control,” as defined in the agreement. As a bonus for entering into the agreement, the Company issued 1,000,000 150,000 10 Service Agreement with EndlessOne Global Inc. (“E1G”) The Company entered into a Service Agreement with E1G on September 1, 2020 whereby, E1G provided data processing, transaction processing and related services for its cardholders, mobile apps, website’s back office and integration services with sponsoring banks and processors. The Service Agreement required a one-time fee of $ 250,000 145,892 |
STOCKHOLDERS_ EQUITY
STOCKHOLDERS’ EQUITY | 12 Months Ended |
Mar. 31, 2023 | |
Equity [Abstract] | |
STOCKHOLDERS’ EQUITY | NOTE 9 – STOCKHOLDERS’ EQUITY The Company’s capitalization at March 31, 2023 and 2022 was 500,000,000 0.001 25,000,000 0.001 Common Stock During the year ended March 31, 2022, the Company sold 89,500 2.00 179,000 During the year ended March 31, 2023, the Company sold 106,429 3.50 372,500 During the year ended March 31, 2023, the Company issued 250,000 2.00 500,000 As of March 31, 2023, the Company received cash proceeds of $ 617,700 As a result of all common stock issuances, the total issued and outstanding shares of common stock were 10,336,004 9,979,575 Preferred Stock The Board of Directors, without further approval of its stockholders, is authorized to fix the dividend rights and terms, conversion rights, voting rights, redemption rights, liquidation preferences and other rights and restrictions relating to any series. Issuances of shares of preferred stock, while providing flexibility in connection with possible financings, acquisitions and other corporate purposes, could, among other things, adversely affect the voting power of the holders of our Common Stock and other series of Preferred Stock then outstanding. Designation There are 1,000,000 292,000 Liquidation Rights In the event of any liquidation, dissolution or winding up of the Corporation, either voluntary or involuntary, after setting apart or paying in full the preferential amounts due to Holders of senior capital stock, if any, the Holders of Series A Preferred Stock and parity capital stock, if any, shall be entitled to receive, prior and in preference to any distribution of any of the assets or surplus funds of the Corporation to the Holders of junior capital stock, including Common Stock, an amount equal to $ 0.001 Conversion Rights Each share of Series A Convertible Preferred Stock shall be convertible, at the option of the Holder, into one thousand (1,000) fully paid and non-assessable shares of the Corporation’s Common Stock. Voting Rights The Holders of shares of Series A Convertible Preferred Stock shall be entitled to vote on any and all matters considered and voted upon by the Corporation’s Common Stock. The Holders of the Series A Convertible Preferred Stock shall be entitled to one thousand (1,000) votes per outstanding share of Series A Convertible Preferred Stock Stock Splits, Dividends and Distributions If the Corporation, at any time while any Series A Convertible Preferred Stock is outstanding, (a) shall pay a stock dividend or otherwise make a distribution or distributions on shares of its Common Stock payable in shares of its capital stock [whether payable in shares of its Common Stock or of capital stock of any class], (b) subdivide outstanding shares of Common Stock into a larger number of shares, (c) combine outstanding shares of Common Stock into a smaller number of shares. or (d) issue reclassification of shares of Common Stock for any shares of capital stock of the Corporation, the conversion ratio, as defined, shall be adjusted by multiplying the number of shares of Common Stock issuable by a fraction of which the numerator shall be the number of shares of Common Stock of the Corporation outstanding after such event and of which the denominator shall be the number of shares of Common Stock outstanding before such event. Any adjustment made pursuant to this paragraph (e)(iii) shall become effective immediately after the record date for the determination of stockholders entitled to receive such dividend or distribution and shall become effective immediately after the effective date in the case of a subdivision, combination or reclassification. As a result of all preferred stock issuances, the total issued and outstanding shares of preferred stock were 292,000 2022 Stock Incentive Plan On March 11, 2022, the Board of Directors adopted the 2022 Stock Incentive Plan (the “ 2022 Plan The 2022 Plan is administered by our board of directors; however, the board of directors may designate administration of the 2022 Plan to a committee consisting of at least two independent directors. Awards may be made under the 2022 Plan for up to 5,000,000 No option awards may be exercisable more than ten years after the date it is granted. In the event of termination of employment for cause, the options terminate on the date of employment is terminated. In the event of termination of employment for disability or death, the optionee or administrator of optionee’s estate or transferee has six months following the date of termination to exercise options received at the time of disability or death. In the event of termination for any other reason other than for cause, disability or death, the optionee has 30 days to exercise his or her options. The 2022 Plan will continue in effect until all the stock available for grant or issuance has been acquired through exercise of options or grants of shares, or until ten years after its adoption, whichever is earlier. Awards under the 2022 Plan may also be accelerated in the event of certain corporate transactions such as a merger or consolidation or the sale, transfer or other disposition of all or substantially all our assets. As of March 31, 2023, the Board had awarded to consultants 250,000 |
INCOME TAXES
INCOME TAXES | 12 Months Ended |
Mar. 31, 2023 | |
Income Tax Disclosure [Abstract] | |
INCOME TAXES | NOTE 10 – INCOME TAXES The following is a reconciliation of the provision for income taxes at the U.S. Federal income tax rate to the income reflected in the Statement of Operations: SUMMARY OF RECONCILIATION OF PROVISION FOR INCOME TAXES March 31, 2023 March 31, 2022 Tax at statutory tax rate 21.00 % 21.00 % State taxes 6.98 % - Other permanent items — — Change in valuation allowance -27.98 % -21.00 % Income tax expense — — The tax effects of temporary differences that gave rise to significant portions of deferred tax assets and liabilities at March 31, 2023 and 2022, are as follows: SUMMARY OF TAX EFFECTS OF TEMPORARY DIFFERENCES TO SIGNIFICANT PORTIONS OF DEFERRED TAX ASSETS AND LIABILITIES March 31, 2023 March 31, 2022 Deferred tax assets: Net operating loss carry forward $ 229,953 $ 187,613 Total gross deferred tax assets 229,953 187,613 Less: valuation allowance (229,953 ) (187,613 ) Net deferred tax assets $ — $ — Deferred income taxes are provided for the tax effects of transactions reported in the financial statements and consist of deferred taxes related primarily to differences between the bases of certain assets and liabilities for financial and tax reporting. The deferred taxes represent the future tax return consequences of those differences, which will either be deductible or taxable when the assets and liabilities are recovered or settled. At March 31, 2023 and 2022, the Company had accumulated net operating loss carryforwards of approximately $ 1,741,000 1,130,000 Based on the weight of available evidence, including cumulative losses in recent years and expectations of future taxable income, the Company has determined that it was more likely than not that its deferred tax assets would not be realized at March 31, 2023 and 2022, respectively. Accordingly, the Company has recorded a valuation allowance for 100% of its cumulative deferred tax assets. The change in valuation allowance during fiscal 2023 was an increase of $ 42,340 In the ordinary course of business, the Company’s income tax returns are subject to examination by various taxing authorities. Such examinations may result in future tax and interest assessment by these taxing authorities. Accordingly, the Company believes that it is more likely than not that it will realize the benefits of tax positions it has taken in its tax returns or for the amount of any tax benefit that exceeds the cumulative probability threshold in accordance with FASB ASC 740. Differences between the estimated and actual amounts determined upon ultimate resolution, individually or in the aggregate, are not expected to have a material adverse effect on the Company’s financial position. The Company believes its tax positions are all highly certain of being upheld upon examination. As such, the Company has not recorded a liability for unrecognized tax benefits. As of March 31, 2023, tax years 2022, 2021, and 2020 remain open for examination by the Internal Revenue Service and the Nevada Division of Revenue. The Company has received no notice of audit from the Internal Revenue Service or the Nevada Division of Revenue for any of the open tax years. |
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS | 12 Months Ended |
Mar. 31, 2023 | |
Subsequent Events [Abstract] | |
SUBSEQUENT EVENTS | NOTE 11 – SUBSEQUENT EVENTS Leases On April 13, 2023, the Company executed a non-cancellable office space in a retail shopping center, for a monthly base rent of $ 2,196 1,531 The lease term extends for a term of three years and two months 8,119 4,392 Common stock issued for subscriptions received in fiscal 2023 On April 28, 2023, the Company issued 430,000 430,000 10,000 420,000 70,000 350,000 On April 28, 2023, the Company issued 500,000 500,000 500,000 On April 28, 2023, the Company issued 472,700 472,700 107,700 365,000 Common stock issued for cash On April 28, 2023, the Company issued 30,000 30,000 On May 31, 2023, the Company issued 165,000 165,000 On June 21, 2023, the Company issued 100,000 200,000 |
SUMMARY OF SIGNIFICANT ACCOUN_2
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies) | 12 Months Ended |
Mar. 31, 2023 | |
Accounting Policies [Abstract] | |
Reclassifications | Reclassifications The Company reclassified $ 77,900 207,500 |
Use of Estimates | Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The Company regularly evaluates estimates and assumptions related to the valuation of its assets, liabilities, equity and operations. The Company bases its estimates and assumptions on current facts, historical experience and various other factors that it believes to be reasonable under the circumstances, the results of which form the basis for making judgments about its estimates that are not readily apparent from other sources. Significant estimates in the accompanying financial statements include the valuation of inventory, software development costs, right-of-use assets, stock-based compensation and deferred tax assets. The actual results experienced by the Company may differ materially and adversely from the Company’s estimates. To the extent there are material differences between the estimates and the actual results, future results of operations will be affected. |
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. The Company did no |
Concentrations | Concentrations Cash Concentration Cash is maintained at one financial institution and at times, balances may exceed federally insured limits. We have not experienced any losses related to these balances. As of March 31, 2023, the Company had balances in a financial institution which exceeded federally insured limits by approximately $ 418,000 Customer Concentration For the year ended March 31, 2023, 100 100 Significant Vendor and Concentration The Company relies solely on one vendor for key components and processing services related to the manufacturing, distribution and servicing of its prepaid debit cards and gift cards. The same vendor is also the sole developer and provider of the software for Company’s operations. |
Inventory | Inventory Inventory is finished goods which consists of plastic prepaid debit cards and gift cards and is valued at the lower of cost or net realizable value using the specific identification method. The reported net value of inventory includes saleable prepaid debit cards and gift cards that will be sold or used in future periods. The Company reserves for obsolete and slow-moving inventory. At March 31, 2023 and 2022, the Company recorded a reserve of $ 26,385 0 |
Property and Equipment | Property and Equipment Property and equipment are recorded at cost, less accumulated depreciation. The Company provides for depreciation on a straight-line basis over the estimated useful lives of the assets which range from three five years |
Software Development Costs | Software Development Costs Costs incurred to develop internal-use software during the preliminary project stage are expensed as incurred. Internal-use software development costs are capitalized during the application development stage, which is after: (i) the preliminary project stage is completed; and (ii) management authorizes and commits to funding the project and it is probable the project will be completed and used to perform the function intended. Capitalization ceases at the point the software project is substantially complete and ready for its intended use, and after all substantial testing is completed. Upgrades and enhancements are capitalized if it is probable that those expenditures will result in additional functionality. Amortization is provided for on a straight-line basis over the expected useful life of five years The Company conducts a qualitative assessment of internal-use software impairment using the guidelines of ASC 350-40-35-1 Internal-Use Software |
Long-lived Assets | Long-lived Assets The Company tests long-lived assets or asset groups for recoverability in accordance with GAAP, when events or changes in circumstances indicate that their carrying amount may not be recoverable. Circumstances which could trigger a review include, but are not limited to: significant decreases in the market price of the asset; significant adverse changes in the business climate or legal factors; accumulation of costs significantly in excess of the amount originally expected for the acquisition or construction of the asset; current period cash flow or operating losses combined with a history of losses or a forecast of continuing losses associated with the use of the asset; and current expectation that the asset will more likely than not be sold or disposed of significantly before the end of its estimated useful life. Recoverability is assessed based on the carrying amount of the asset compared to the estimated future undiscounted cash flows expected to result from the use and the eventual disposal of the asset, as well as specific appraisal in certain instances. An impairment loss equal to the excess of the carrying value over the assets fair market value is recognized when the carrying amount exceeds the undiscounted cash flows. The impairment loss is recorded as an expense and a direct write-down of the asset. No |
Leases | Leases The Company has operating leases for its offices. Management determines if an arrangement is a lease at inception of the contract and whether a contract is or contains a lease by determining whether it conveys the right to control the use of the identified asset for a period of time. If the contract provides the Company the right to substantially all of the economic benefits from the use of the identified asset and the right to direct the use of the identified asset, the Company consider it to be, or contain, a lease. The Company accounts for its vehicle leases under ASC 842, Leases. In calculating the right of use asset and lease liability, the Company elects to combine lease and non-lease components as permitted under ASC 842. The Company excludes short-term leases having initial terms of 12 months or less from the new guidance as an accounting policy election and recognizes rent expense on a straight-line basis over the lease term. |
Fair value of Financial Instruments and Fair Value Measurements | Fair value of Financial Instruments and Fair Value Measurements ASC 820, “ Fair Value Measurements and Disclosures”, Level 1 applies to assets or liabilities for which there are quoted prices in active markets for identical assets or liabilities. Level 2 applies to assets or liabilities for which there are inputs other than quoted prices that are observable for the asset or liability such as quoted prices for similar assets or liabilities in active markets; quoted prices for identical assets or liabilities in markets with insufficient volume or infrequent transactions (less active markets); or model-derived valuations in which significant inputs are observable or can be derived principally from, or corroborated by, observable market data. If the asset or liability has a specified (contractual) term, the Level 2 input must be observable for substantially the full term of the asset or liability. Level 3 applies to assets or liabilities for which there are unobservable inputs to the valuation methodology that are significant to the measurement of the fair value of the assets or liabilities. The Company’s financial instruments consist principally of prepaid assets, accounts payable and accrued liabilities, related party payable, and lease payable. The Company believes that the recorded values of all the financial instruments approximate their current fair values because of their nature and respective maturity dates or durations. |
Revenue Recognition | Revenue Recognition The Company recognizes revenues from card sales when the product is deemed delivered to the customer, and the ownership/control is transferred. The Company will recognize revenue from card service fees and card transactions once the service or transaction is completed, respectively. The Company’s revenue recognition policy is based on the revenue recognition criteria established under the Financial Accounting Standards Board – Accounting Standards Codification 606 “Revenue From Contracts With Customers |
Stock-based Compensation | Stock-based Compensation The Company accounts for equity-based transactions with non-employees under the provisions of ASC Topic No. 505-50, Equity-Based Payments to Non-Employees The Company accounts for employee stock-based compensation in accordance with the guidance of ASC Topic 718, Compensation—Stock Compensation. |
Research and Development Costs | Research and Development Costs Costs incurred for research and development are expensed as incurred. The salaries, benefits, and overhead costs of personnel conducting research and development of the Company’s products comprise research and development expenses. Purchased materials that do not have an alternative future use are also expensed. The Company recorded research and development costs of $ 2,240 7,035 |
Income Taxes | Income Taxes The Company accounts for income taxes using the asset and liability method in accordance with ASC 740, “ Income Taxes” The Company follows the provisions of ASC 740-10, “ Accounting for Uncertain Income Tax Positions more than 50 percent |
Earnings (Loss) Per Common Share | Earnings (Loss) Per Common Share The Company computes earnings (loss) per share in accordance with ASC 260, “ Earnings per Share” SCHEDULE OF EARNING PER SHARE 2023 2022 For the Year Ended March 31, 2023 2022 Net loss computation of basic and diluted net loss per common share: Net loss attributable to common stockholders $ (1,118,799 ) $ (530,827 ) Basic and diluted net loss per share: Basic and diluted net loss per common share $ (0.11 ) $ (0.05 ) Basic and diluted weighted average common shares outstanding 10,293,125 9,935,412 Potential dilutive securities that are not included in the calculations of diluted net loss per share because their effect is anti-dilutive, are as follows as of March 31, (in common equivalent shares): SCHEDULE OF ANTI-DILUTIVE SECURITIES OF EARNING PER SHARE March 31, 2023 March 31, 2022 Preferred stock 292,000,000 292,000,000 Total anti-dilutive weighted average shares 292,000,000 292,000,000 |
Recent Accounting Pronouncements | Recent Accounting Pronouncements In March 2020, the FASB issued ASU 2020-04, “ Facilitation of the Effects of Reference Rate Reform on Financial Reporting |
SUMMARY OF SIGNIFICANT ACCOUN_3
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables) | 12 Months Ended |
Mar. 31, 2023 | |
Accounting Policies [Abstract] | |
SCHEDULE OF EARNING PER SHARE | SCHEDULE OF EARNING PER SHARE 2023 2022 For the Year Ended March 31, 2023 2022 Net loss computation of basic and diluted net loss per common share: Net loss attributable to common stockholders $ (1,118,799 ) $ (530,827 ) Basic and diluted net loss per share: Basic and diluted net loss per common share $ (0.11 ) $ (0.05 ) Basic and diluted weighted average common shares outstanding 10,293,125 9,935,412 |
SCHEDULE OF ANTI-DILUTIVE SECURITIES OF EARNING PER SHARE | Potential dilutive securities that are not included in the calculations of diluted net loss per share because their effect is anti-dilutive, are as follows as of March 31, (in common equivalent shares): SCHEDULE OF ANTI-DILUTIVE SECURITIES OF EARNING PER SHARE March 31, 2023 March 31, 2022 Preferred stock 292,000,000 292,000,000 Total anti-dilutive weighted average shares 292,000,000 292,000,000 |
INVENTORY (Tables)
INVENTORY (Tables) | 12 Months Ended |
Mar. 31, 2023 | |
Inventory Disclosure [Abstract] | |
SCHEDULE OF INVENTORY OF PREPAID DEBIT CARDS AND GIFT CARDS | Inventory of prepaid debit cards and gift cards consisted of the following: SCHEDULE OF INVENTORY OF PREPAID DEBIT CARDS AND GIFT CARDS March 31, 2023 March 31, 2022 Prepaid cards inventory $ 100,885 $ 77,900 Less: reserve to reduce to net realizable value (26,385 ) - Total $ 74,500 $ 77,900 |
PROPERTY AND EQUIPMENT (Tables)
PROPERTY AND EQUIPMENT (Tables) | 12 Months Ended |
Mar. 31, 2023 | |
Property, Plant and Equipment [Abstract] | |
SCHEDULE OF PROPERTY AND EQUIPMENT | SCHEDULE OF PROPERTY AND EQUIPMENT Estimated Life March 31, 2023 March 31, 2022 Furniture and fixtures 5 years $ 120,519 $ 120,519 Office equipment 3 years 5,500 5,500 Vehicle 5 years - 97,991 Property and equipment, gross 126,019 224,010 Less: Accumulated depreciation (78,732 ) (88,725 ) Total $ 47,287 $ 135,285 |
SOFTWARE DEVELOPMENT COSTS (Tab
SOFTWARE DEVELOPMENT COSTS (Tables) | 12 Months Ended |
Mar. 31, 2023 | |
Research and Development [Abstract] | |
SCHEDULE OF SOFTWARE DEVELOPMENT COSTS | SCHEDULE OF SOFTWARE DEVELOPMENT COSTS March 31, 2023 March 31, 2022 Software development cost $ 145,892 $ - Less: Accumulated amortization - - Total $ 145,892 $ - |
LOAN PAYABLE (Tables)
LOAN PAYABLE (Tables) | 12 Months Ended |
Mar. 31, 2023 | |
Debt Disclosure [Abstract] | |
SCHEDULE OF LOAN PAYABLE | SCHEDULE OF LOAN PAYABLE March 31, 2023 March 31, 2022 Loan payable $ - $ 56,458 Less: Current portion - (12,699 ) Loan Payable - Non-current portion $ - $ 43,759 |
COMMITMENTS AND CONTINGENCIES (
COMMITMENTS AND CONTINGENCIES (Tables) | 12 Months Ended |
Mar. 31, 2023 | |
Commitments and Contingencies Disclosure [Abstract] | |
SCHEDULE OF SUPPLEMENTAL INFORMATION UNDER OPERATING LEASE | Supplemental balance sheet information related to the lease is as follows as of March 31, 2023: SCHEDULE OF SUPPLEMENTAL INFORMATION UNDER OPERATING LEASE Operating Lease Right-of-use asset, net $ 48,401 Current lease liabilities $ 17,384 Non-current lease liabilities 24,862 Total operating lease liabilities $ 42,246 Weighted average remaining lease term (years) 2.25 Weighted average discount rate per annum 12 % |
SCHEDULE OF FUTURE MINIMUM LEASE PAYMENTS UNDER OPERATING LEASES | Anticipated future costs are as follows: SCHEDULE OF FUTURE MINIMUM LEASE PAYMENTS UNDER OPERATING LEASES For the years ending Vehicle Lease March 31, 2024 $ 21,518 March 31, 2025 21,518 March 31, 2026 5,379 Total lease payments 48,415 Less: imputed interest (6,169 ) Present value of lease liabilities $ 42,246 |
INCOME TAXES (Tables)
INCOME TAXES (Tables) | 12 Months Ended |
Mar. 31, 2023 | |
Income Tax Disclosure [Abstract] | |
SUMMARY OF RECONCILIATION OF PROVISION FOR INCOME TAXES | The following is a reconciliation of the provision for income taxes at the U.S. Federal income tax rate to the income reflected in the Statement of Operations: SUMMARY OF RECONCILIATION OF PROVISION FOR INCOME TAXES March 31, 2023 March 31, 2022 Tax at statutory tax rate 21.00 % 21.00 % State taxes 6.98 % - Other permanent items — — Change in valuation allowance -27.98 % -21.00 % Income tax expense — — |
SUMMARY OF TAX EFFECTS OF TEMPORARY DIFFERENCES TO SIGNIFICANT PORTIONS OF DEFERRED TAX ASSETS AND LIABILITIES | The tax effects of temporary differences that gave rise to significant portions of deferred tax assets and liabilities at March 31, 2023 and 2022, are as follows: SUMMARY OF TAX EFFECTS OF TEMPORARY DIFFERENCES TO SIGNIFICANT PORTIONS OF DEFERRED TAX ASSETS AND LIABILITIES March 31, 2023 March 31, 2022 Deferred tax assets: Net operating loss carry forward $ 229,953 $ 187,613 Total gross deferred tax assets 229,953 187,613 Less: valuation allowance (229,953 ) (187,613 ) Net deferred tax assets $ — $ — |
NATURE OF OPERATIONS AND GOIN_2
NATURE OF OPERATIONS AND GOING CONCERN (Details Narrative) - USD ($) | 12 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ||
Net income loss | $ 1,118,799 | $ 530,827 |
Net cash provided by (used in) operating activities | 331,574 | 452,472 |
Accumulated deficit | $ 2,258,612 | $ 1,139,813 |
SCHEDULE OF EARNING PER SHARE (
SCHEDULE OF EARNING PER SHARE (Details) - USD ($) | 12 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Accounting Policies [Abstract] | ||
Net loss attributable to common stockholders | $ (1,118,799) | $ (530,827) |
Basic and diluted net loss per common share | $ (0.11) | $ (0.05) |
Basic and diluted weighted average common shares outstanding | 10,293,125 | 9,935,412 |
SCHEDULE OF ANTI-DILUTIVE SECUR
SCHEDULE OF ANTI-DILUTIVE SECURITIES OF EARNING PER SHARE (Details) - shares | 12 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Total anti-dilutive weighted average shares | 292,000,000 | 292,000,000 |
Preferred Stock [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Total anti-dilutive weighted average shares | 292,000,000 | 292,000,000 |
SUMMARY OF SIGNIFICANT ACCOUN_4
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) - USD ($) | 12 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Product Information [Line Items] | ||
prepaid deposits | $ 77,900 | |
Compensation payable to officer | $ 380,750 | 207,500 |
Cash | 0 | 0 |
Cash, FDIC insured amount | 418,000 | |
Inventory reserves | $ 26,385 | |
Expected useful life of internal-use software development costs | 5 years | |
Impairment loss of long-lived assets | $ 0 | 0 |
Research and development costs | $ 2,240 | $ 7,035 |
Income tax benefit likely, description | more than 50 percent | |
Minimum [Member] | ||
Product Information [Line Items] | ||
Estimated useful lives | 3 years | |
Maximum [Member] | ||
Product Information [Line Items] | ||
Estimated useful lives | 5 years | |
Revenue Benchmark [Member] | Customer Concentration Risk [Member] | One Customer [Member] | ||
Product Information [Line Items] | ||
Customer concentration, percentage | 100% | |
Revenue Benchmark [Member] | Customer Concentration Risk [Member] | Two Customer [Member] | ||
Product Information [Line Items] | ||
Customer concentration, percentage | 100% |
SCHEDULE OF INVENTORY OF PREPAI
SCHEDULE OF INVENTORY OF PREPAID DEBIT CARDS AND GIFT CARDS (Details) - USD ($) | Mar. 31, 2023 | Mar. 31, 2022 |
Inventory Disclosure [Abstract] | ||
Prepaid cards inventory | $ 100,885 | $ 77,900 |
Less: reserve to reduce to net realizable value | (26,385) | |
Total | $ 74,500 | $ 77,900 |
SCHEDULE OF PROPERTY AND EQUIPM
SCHEDULE OF PROPERTY AND EQUIPMENT (Details) - USD ($) | Mar. 31, 2023 | Jul. 15, 2022 | Mar. 31, 2022 |
Property, Plant and Equipment [Line Items] | |||
Property and equipment, gross | $ 126,019 | $ 224,010 | |
Less: Accumulated depreciation | (78,732) | (88,725) | |
Total | $ 47,287 | 135,285 | |
Furniture and Fixtures [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property and equipment, estimated useful lives | 5 years | ||
Property and equipment, gross | $ 120,519 | 120,519 | |
Office Equipment [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property and equipment, estimated useful lives | 3 years | ||
Property and equipment, gross | $ 5,500 | 5,500 | |
Vehicles [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property and equipment, estimated useful lives | 5 years | ||
Property and equipment, gross | $ 97,991 | ||
Total | $ 55,528 |
PROPERTY AND EQUIPMENT (Details
PROPERTY AND EQUIPMENT (Details Narrative) - USD ($) | 12 Months Ended | ||
Jul. 15, 2022 | Mar. 31, 2023 | Mar. 31, 2022 | |
Property, Plant and Equipment [Line Items] | |||
Net book value of property and equipment | $ 47,287 | $ 135,285 | |
Net loss including general and administrative expenses | (1,118,799) | (530,827) | |
Depreciation | $ 32,470 | $ 42,388 | |
Vehicles [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Net book value of property and equipment | $ 55,528 | ||
Outstanding loan payable | 53,332 | ||
Net loss including general and administrative expenses | $ 2,196 |
SCHEDULE OF SOFTWARE DEVELOPMEN
SCHEDULE OF SOFTWARE DEVELOPMENT COSTS (Details) - USD ($) | Mar. 31, 2023 | Mar. 31, 2022 |
Research and Development [Abstract] | ||
Software development cost | $ 145,892 | |
Less: Accumulated amortization | ||
Total | $ 145,892 |
SOFTWARE DEVELOPMENT COSTS (Det
SOFTWARE DEVELOPMENT COSTS (Details Narrative) - USD ($) | Mar. 31, 2023 | Mar. 31, 2022 |
Research and Development [Abstract] | ||
Capitalized costs of computer software | $ 145,892 | |
Costs including prepaid assets | $ 117,193 |
RELATED PARTY TRANSACTIONS (Det
RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($) | 12 Months Ended | ||
Dec. 01, 2020 | Mar. 31, 2023 | Mar. 31, 2022 | |
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items] | |||
Loans payable | $ 56,458 | ||
Compensation expenses | 173,250 | 157,500 | |
Compensation payable | 380,750 | 207,500 | |
Chief Executive Officer [Member] | |||
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items] | |||
Loans payable | 25,765 | 32,512 | |
Compensation payable | $ 380,750 | $ 207,500 | |
Chief Executive Officer [Member] | Employment Agreement [Member] | |||
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items] | |||
Employee benefits and share based compensation | $ 150,000 | ||
Debt Interest rate | 10% |
SCHEDULE OF LOAN PAYABLE (Detai
SCHEDULE OF LOAN PAYABLE (Details) - USD ($) | Mar. 31, 2023 | Mar. 31, 2022 |
Debt Disclosure [Abstract] | ||
Loan payable | $ 56,458 | |
Less: Current portion | (12,699) | |
Loan Payable - Non-current portion | $ 43,759 |
LOAN PAYABLE (Details Narrative
LOAN PAYABLE (Details Narrative) - USD ($) | 12 Months Ended | |||
Jun. 16, 2020 | Mar. 31, 2023 | Mar. 31, 2022 | Jul. 15, 2022 | |
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | ||||
Loans payable | $ 56,458 | |||
Loan balance amount | $ 53,332 | |||
Property plant and equipment net | 47,287 | 135,285 | ||
Interest expenses | 557 | 2,520 | ||
Interest payable charges | 4,371 | $ 43 | ||
Vehicles [Member] | ||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | ||||
Property, plant, and equipment accumulated depreciation | 42,463 | |||
Property plant and equipment net | $ 55,528 | |||
Loss on sale of vehicle | $ 2,196 | |||
Financing Arrangement [Member] | ||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | ||||
Loans payable | $ 78,491 | |||
Debt instrument, term | 72 months | |||
Debt instrument, interest rate, stated percentage | 3.99% | |||
Debt Instrument, Periodic Payment | $ 1,228 |
SCHEDULE OF SUPPLEMENTAL INFORM
SCHEDULE OF SUPPLEMENTAL INFORMATION UNDER OPERATING LEASE (Details) - USD ($) | Mar. 31, 2023 | Mar. 31, 2022 |
Commitments and Contingencies Disclosure [Abstract] | ||
Right-of-use asset, net | $ 48,401 | |
Current lease liabilities | 17,384 | |
Non-current lease liabilities | 24,862 | |
Total operating lease liabilities | $ 42,246 | |
Weighted average remaining lease term (years) | 2 years 3 months | |
Weighted average discount rate | 12% |
SCHEDULE OF FUTURE MINIMUM LEAS
SCHEDULE OF FUTURE MINIMUM LEASE PAYMENTS UNDER OPERATING LEASES (Details) | Mar. 31, 2023 USD ($) |
Commitments and Contingencies Disclosure [Abstract] | |
March 31, 2024 | $ 21,518 |
March 31, 2025 | 21,518 |
March 31, 2026 | 5,379 |
Total lease payments | 48,415 |
Less: imputed interest | (6,169) |
Present value of lease liabilities | $ 42,246 |
COMMITMENTS AND CONTINGENCIES_2
COMMITMENTS AND CONTINGENCIES (Details Narrative) - USD ($) | 12 Months Ended | ||||||||||||
Mar. 31, 2023 | Oct. 09, 2022 | Jul. 12, 2022 | Nov. 25, 2021 | Dec. 01, 2020 | Oct. 26, 2020 | Sep. 01, 2020 | Aug. 27, 2020 | Mar. 31, 2023 | Mar. 31, 2022 | Jan. 01, 2021 | Oct. 28, 2020 | Sep. 07, 2020 | |
Product Liability Contingency [Line Items] | |||||||||||||
Rent expenses | $ 99,598 | $ 73,348 | |||||||||||
Common stock issued | 250,000 | ||||||||||||
One time fee | $ 44,102 | 32,631 | |||||||||||
Payment for software development | $ 28,700 | ||||||||||||
Common Stock [Member] | |||||||||||||
Product Liability Contingency [Line Items] | |||||||||||||
Common stock issued | 106,429 | 89,500 | |||||||||||
Operating Lease Agreement [Member] | |||||||||||||
Product Liability Contingency [Line Items] | |||||||||||||
Rent expenses | $ 6,500 | $ 5,500 | $ 78,000 | $ 70,000 | |||||||||
Security deposit | $ 6,500 | $ 5,500 | |||||||||||
Employment Agreement [Member] | Officer [Member] | |||||||||||||
Product Liability Contingency [Line Items] | |||||||||||||
Officers compensation | $ 150,000 | ||||||||||||
Compensation increase percentage | 10% | ||||||||||||
Employment Agreement [Member] | Officer [Member] | Common Stock [Member] | |||||||||||||
Product Liability Contingency [Line Items] | |||||||||||||
Common stock issued | 1,000,000 | ||||||||||||
Service Agreements [Member] | Endless One Global Inc [Member] | |||||||||||||
Product Liability Contingency [Line Items] | |||||||||||||
One time fee | $ 250,000 | ||||||||||||
Payment for software development | $ 145,892 | ||||||||||||
Office Spacein Executive Suite [Member] | |||||||||||||
Product Liability Contingency [Line Items] | |||||||||||||
Rent expenses | $ 289 | $ 259 | 3,408 | $ 3,348 | $ 279 | ||||||||
Security deposit | $ 259 | ||||||||||||
Vehicle [Member] | |||||||||||||
Product Liability Contingency [Line Items] | |||||||||||||
Lease payments | $ 10,000 | ||||||||||||
Lease cost | 8,207 | ||||||||||||
Rent expenses | $ 18,190 | ||||||||||||
Lease expiration date | Jul. 11, 2025 | ||||||||||||
Right of use asset and lease liability | $ 62,113 | ||||||||||||
Vehicle [Member] | First Month Payment [Member] | |||||||||||||
Product Liability Contingency [Line Items] | |||||||||||||
Lease payments | $ 1,793 |
STOCKHOLDERS_ EQUITY (Details N
STOCKHOLDERS’ EQUITY (Details Narrative) - USD ($) | 12 Months Ended | ||
Mar. 11, 2022 | Mar. 31, 2023 | Mar. 31, 2022 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Common stock, shares authorized | 500,000,000 | 500,000,000 | |
Common stock, par value | $ 0.001 | $ 0.001 | |
Preferred stock, shares authorized | 25,000,000 | 25,000,000 | |
Preferred stock, par value | $ 0.001 | $ 0.001 | |
Shares of common stock | 250,000 | ||
Number of shares of common stock, value | $ 372,500 | $ 179,000 | |
Proceeds from stock | $ 372,500 | $ 179,000 | |
Common stock, shares issued | 10,336,004 | 9,979,575 | |
Common stock, shares outstanding | 10,336,004 | 9,979,575 | |
Preferred stock, shares outstanding | 292,000 | 292,000 | |
Preferred stock, shares issued | 292,000 | 292,000 | |
Liquidation preference, per share | $ 0.001 | ||
2022 Stock Incentive Plan [Member] | |||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Shares of common stock | 5,000,000 | ||
Series A Convertible Preferred Stock [Member] | |||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Preferred stock, shares authorized | 1,000,000 | 1,000,000 | |
Preferred stock, shares outstanding | 292,000 | 292,000 | |
Preferred stock, shares issued | 292,000 | 292,000 | |
Conversion of stock, description | Each share of Series A Convertible Preferred Stock shall be convertible, at the option of the Holder, into one thousand (1,000) fully paid and non-assessable shares of the Corporation’s Common Stock. | ||
Voting rights, description | The Holders of shares of Series A Convertible Preferred Stock shall be entitled to vote on any and all matters considered and voted upon by the Corporation’s Common Stock. The Holders of the Series A Convertible Preferred Stock shall be entitled to one thousand (1,000) votes per outstanding share of Series A Convertible Preferred Stock | ||
Common Stock [Member] | |||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Shares of common stock | 106,429 | 89,500 | |
Number of shares of common stock, value | $ 106 | $ 90 | |
Number of shares issued for services | 250,000 | ||
Common Stock [Member] | Investor [Member] | |||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Shares of common stock | 106,429 | 89,500 | |
Share price | $ 3.50 | $ 2 | |
Number of shares of common stock, value | $ 372,500 | $ 179,000 | |
Proceeds from stock | $ 617,700 | ||
Common Stock [Member] | Consultants [Member] | |||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Share price | $ 2 | ||
Number of shares of common stock, value | $ 500,000 | ||
Common Stock [Member] | Consultants [Member] | 2022 Stock Incentive Plan [Member] | |||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Number of shares issued for services | 250,000 |
SUMMARY OF RECONCILIATION OF PR
SUMMARY OF RECONCILIATION OF PROVISION FOR INCOME TAXES (Details) | 12 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Income Tax Disclosure [Abstract] | ||
Tax at statutory tax rate | 21% | 21% |
State taxes | 6.98% | |
Other permanent items | ||
Change in valuation allowance | (27.98%) | (21.00%) |
Income tax expense |
SUMMARY OF TAX EFFECTS OF TEMPO
SUMMARY OF TAX EFFECTS OF TEMPORARY DIFFERENCES TO SIGNIFICANT PORTIONS OF DEFERRED TAX ASSETS AND LIABILITIES (Details) - USD ($) | Mar. 31, 2023 | Mar. 31, 2022 |
Income Tax Disclosure [Abstract] | ||
Net operating loss carry forward | $ 229,953 | $ 187,613 |
Total gross deferred tax assets | 229,953 | 187,613 |
Less: valuation allowance | (229,953) | (187,613) |
Net deferred tax assets |
INCOME TAXES (Details Narrative
INCOME TAXES (Details Narrative) - USD ($) | 12 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Income Tax Disclosure [Abstract] | ||
Net operating losses | $ 1,741,000 | $ 1,130,000 |
Cumulative deferred tax assets valuation allowance percentage | 100% | |
Change in valuation allowance | $ 42,340 |
SUBSEQUENT EVENTS (Details Narr
SUBSEQUENT EVENTS (Details Narrative) - USD ($) | 1 Months Ended | 12 Months Ended | |||||||||
Jun. 21, 2023 | May 31, 2023 | Apr. 28, 2023 | Apr. 13, 2023 | Mar. 31, 2023 | Mar. 30, 2023 | Mar. 24, 2023 | May 31, 2023 | Apr. 30, 2023 | Mar. 31, 2023 | Mar. 31, 2022 | |
Subsequent Event [Line Items] | |||||||||||
Rent cost | $ 99,598 | $ 73,348 | |||||||||
Proceeds from common stock | $ 372,500 | 179,000 | |||||||||
Sale of common stock, shares | 250,000 | ||||||||||
Common stock issued during period, value | $ 372,500 | $ 179,000 | |||||||||
Common Stock [Member] | |||||||||||
Subsequent Event [Line Items] | |||||||||||
Sale of common stock, shares | 106,429 | 89,500 | |||||||||
Common stock issued during period, value | $ 106 | $ 90 | |||||||||
Common Stock [Member] | Investor One [Member] | |||||||||||
Subsequent Event [Line Items] | |||||||||||
Proceeds from common stock | $ 10,000 | ||||||||||
Common Stock [Member] | Investor Two [Member] | |||||||||||
Subsequent Event [Line Items] | |||||||||||
Proceeds from common stock | $ 500,000 | ||||||||||
Common Stock [Member] | Investor Three [Member] | |||||||||||
Subsequent Event [Line Items] | |||||||||||
Proceeds from common stock | $ 107,700 | ||||||||||
Subsequent Event [Member] | |||||||||||
Subsequent Event [Line Items] | |||||||||||
Rent cost | $ 2,196 | ||||||||||
Maintenance cost | $ 1,531 | ||||||||||
Lease extend period | The lease term extends for a term of three years and two months | ||||||||||
Operating leases rent expenses | $ 8,119 | ||||||||||
Security deposit | 4,392 | ||||||||||
Subsequent Event [Member] | Common Stock [Member] | Investor One [Member] | |||||||||||
Subsequent Event [Line Items] | |||||||||||
Issuance of shares | 430,000 | ||||||||||
Issuance of shares, value | $ 430,000 | ||||||||||
Proceeds from common stock | 420,000 | ||||||||||
Subsequent Event [Member] | Common Stock [Member] | Investor One [Member] | Share-Based Payment Arrangement, Tranche One [Member] | |||||||||||
Subsequent Event [Line Items] | |||||||||||
Proceeds from common stock | $ 70,000 | ||||||||||
Subsequent Event [Member] | Common Stock [Member] | Investor One [Member] | Share-Based Payment Arrangement, Tranche Two [Member] | |||||||||||
Subsequent Event [Line Items] | |||||||||||
Proceeds from common stock | $ 350,000 | ||||||||||
Subsequent Event [Member] | Common Stock [Member] | Investor Two [Member] | |||||||||||
Subsequent Event [Line Items] | |||||||||||
Issuance of shares | 500,000 | ||||||||||
Issuance of shares, value | $ 500,000 | ||||||||||
Subsequent Event [Member] | Common Stock [Member] | Investor Three [Member] | |||||||||||
Subsequent Event [Line Items] | |||||||||||
Issuance of shares | 472,700 | ||||||||||
Issuance of shares, value | $ 472,700 | ||||||||||
Proceeds from common stock | $ 365,000 | $ 365,000 | |||||||||
Subsequent Event [Member] | Common Stock [Member] | Investor [Member] | |||||||||||
Subsequent Event [Line Items] | |||||||||||
Sale of common stock, shares | 100,000 | 165,000 | 30,000 | ||||||||
Common stock issued during period, value | $ 200,000 | $ 165,000 | $ 30,000 |