Rainbow Coral (RBCC) 10-Q/A 11 Sep 15 2016 Q1 Quarterly report (amended) Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Jun. 30, 2015	Aug. 14, 2015
Document and Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2015
Entity Registrant Name	Rainbow Coral Corp.
Entity Central Index Key	1,499,790
Current Fiscal Year End Date	--03-31
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2,016
Entity Filer Category	Smaller Reporting Company
Entity Units Outstanding		8,748,882

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($)	Jun. 30, 2015	Mar. 31, 2015
CURRENT ASSETS
Cash and cash equivalents	$ 2,740	$ 5,180
Prepaid expenses	1,220	1,095
Inventory	564	1,139
Total current assets	4,524	7,414
Fixed assets net of accumulated depreciation of $3,354 and $2,795, respectively	3,355	3,914
TOTAL ASSETS	7,879	11,328
CURRENT LIABILITIES
Accounts payable and accrued expenses	319,830	274,684
Related party payables	177,274	165,214
Current portion of convertible notes payable, net of discount of $48,852 and $0, respectively	6,395
Current portion of notes payable	13,921	13,734
Current portion of accrued interest payable	378
Total current liabilities	517,798	453,632
Convertible notes payable, net of discount of $226,888 and $237,643, respectively	40,960	164,238
Notes payable	34,551	37,352
Accrued interest payable	11,647	14,127
TOTAL LIABILITIES	$ 604,956	$ 669,349
COMMITMENTS AND CONTINGENCIES
STOCKHOLDERS' DEFICIT
Preferred stock, $0.001 par value; 20,000,000 shares authorized; No shares issued and outstanding at June 30, 2015 and March 31, 2015, respectively
Common stock, $0.001 par value; 480,000,000 shares authorized; 7,536,277 shares issued and outstanding at June 30, 2015 and March 31, 2015, respectively	$ 7,536	$ 342
Additional paid-in capital	3,455,104	3,264,425
Accumulated deficit	(4,059,717)	(3,922,788)
Total stockholders' deficit	(597,077)	(658,021)
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT	$ 7,879	$ 11,328

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parentheticals) - USD ($)	Jun. 30, 2015	Mar. 31, 2015
CONSOLIDATED BALANCE SHEETS [Abstract]
Accumulated depreciation	$ 3,354	$ 2,795
Current portion of convertible notes payable discount	48,852	0
Noncurrent convertible notes payable discount	$ 226,888	$ 237,643
Preferred Stock, par value per share	$ 0.001	$ 0.001
Preferred Stock, shares authorized	20,000,000	20,000,000
Preferred Stock, shares issued	0	0
Preferred Stock, shares outstanding	0	0
Common Stock, par value per share	$ 0.001	$ 0.001
Common Stock, shares authorized	480,000,000	480,000,000
Common Stock, shares issued	7,536,277	7,536,277
Common Stock, shares outstanding	7,536,277	7,536,277

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)	3 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
CONSOLIDATED STATEMENTS OF OPERATIONS [Abstract]
REVENUE	$ 27,683	$ 35,147
COST OF GOODS SOLD	12,675	17,283
GROSS PROFIT	15,008	17,864
OPERATING EXPENSES
Expenses related to joint ventures and business development activities	10,000	40,000
General and administrative expenses	115,844	129,685
Total operating expenses	125,844	169,685
LOSS FROM OPERATIONS	(110,836)	(151,821)
OTHER INCOME (EXPENSE)
Interest expense	(26,093)	(223,088)
NET LOSS	$ (136,929)	$ (374,909)
NET LOSS PER COMMON SHARE - Basic and diluted	$ (0.05)	$ (1.46)
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING - Basic and diluted	2,683,948	256,925

CONSOLIDATED STATEMENT OF CHANG

CONSOLIDATED STATEMENT OF CHANGES IN STOCKHOLDERS' DEFICIT - 3 months ended Jun. 30, 2015 - USD ($)	Total	Preferred Stock [Member]	Common Stock [Member]	Additional Paid-In Capital [Member]	Accumulated Deficit [Member]
BALANCE at Mar. 31, 2015	$ (658,021)		$ 342	$ 3,264,425	$ (3,922,788)
BALANCE, SHARES at Mar. 31, 2015	7,536,277		342,106
Shares issued for conversion of notes payable	$ 143,867		$ 7,194	136,673
Shares issued for conversion of notes payable, shares			7,193,344
Discount on issuance of convertible notes payable	54,006			$ 54,006
Share rounding			827
Net loss	(136,929)				$ (136,929)
BALANCE at Jun. 30, 2015	$ (597,077)		$ 7,536	$ 3,455,104	$ (4,059,717)
BALANCE, SHARES at Jun. 30, 2015	7,536,277		7,536,277

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	3 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
CASH FLOW FROM OPERATING ACTIVITIES:
Net loss	$ (136,929)	$ (374,909)
Adjustments to reconcile net loss to net cash used in operating activities:
Amortization of discount on convertible note payable	15,909	216,176
Depreciation	559	1,260
Changes in operating assets and liabilities:
Inventory	575	798
Prepaid expenses	(125)	491
Accounts payable and accrued liabilities	45,146	41,503
Accrued interest payable	8,973	6,912
NET CASH USED IN OPERATING ACTIVITIES	(65,892)	(107,769)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from advances	54,006	$ 62,980
Proceeds from related party advance	$ 12,060
Repayments of related party advances		$ (1,204)
Repayments of notes payable	$ (2,614)	(140)
NET CASH PROVIDED BY FINANCING ACTIVITIES	63,452	61,636
NET DECREASE IN CASH	(2,440)	(46,133)
CASH, at the beginning of the period	5,180	65,373
CASH, at the end of the period	2,740	$ 19,240
Supplemental Disclosures of Cash Flow Information:
Cash paid during the period for: Interest	$ 1,211
Cash paid during the period for: Taxes
Noncash investing and financing transaction:
Refinance advances into convertible note payable	$ 54,006	$ 212,433
Beneficial conversion discount on convertible notes	54,006	212,433
Conversion of convertible notes to common stock	$ 143,867	$ 238,368

General Organization and Busine

General Organization and Business	3 Months Ended
	Jun. 30, 2015
General Organization and Business [Abstract]
General Organization and Business	Note 1 Rainbow Coral Corp. (the “Company”), a Florida corporation, was incorporated on August 13, 2010. The Company's year-end is March 31. We were formed to build a coral farm facility to develop and propagate (or grow) live coral, independent of the oceans, as a future farm reserve against the decline of natural wild reefs. We intend to grow, harvest, and distribute as many varieties of hard and soft sizes as possible of captive-bred corals that are attractive to as many consumers as possible who can maintain them in a healthy ecosystem aquarium. We believe that coral and other marine aquarium livestock should be supplied by farms or captive breeders, rather than removed from the natural reefs. The additional uses for coral as a source of potential leading edge medical discoveries are an attractive opportunity for the Company's coral farming activity. We believe that the world of bioresearch is a natural continuation of our core coral propagation business. Accordingly, on October 23, 2011, we formed a subsidiary, Rainbow Biosciences, LLC to look into the opportunities within the bioscience market. Rainbow Biosciences, LLC will continue to research opportunities into the bioscience markets. Joint Ventures On March 13, 2012, the Company entered into a stock purchase agreement (“N3D Stock Purchase Agreement”) with Nano3D Biosciences, Inc. (“N3D”), a Texas corporation that has developed a unique concept in three dimensional cell research tools. Under the terms of the N3D Stock Purchase Agreement, the Company agreed to acquire 604 5 413.62 249,826 5,000 60,000 145 The Company suspended payments to N3D in May 2012 because of their delay in reaching certain milestones in the commercialization process. The Company wrote off the investment in full due to the uncertainty about whether the carrying amount is recoverable. During the three months ended June 30, 2015, the Company paid and expensed $ 10,000 On February 1, 2013, the Company entered into a joint venture agreement with TheraKine Ltd. (“TheraKine”) in order to explore potential business opportunities to exploit TheraKine's drug delivery technologies. TheraKine is the developer of a revolutionary, sustained-release drug delivery platform that could soon make local delivery of biologic agents and small molecules safer, more effective, and more convenient than ever before. During the three months ended June 30, 2015, the Company incurred no

Going Concern

Going Concern	3 Months Ended
	Jun. 30, 2015
Going Concern [Abstract]
Going Concern	Note 2. Going Concern The accompanying financial statements have been prepared assuming that the Company will continue as a going concern. For the three months ended June 30, 2015, the Company had a net loss of $ 136,929 65,892 513,274 These factors raise a substantial doubt about the Company's ability to continue as a going concern. The accompanying consolidated financial statements do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts and classifications of liabilities that may result from the possible inability of the Company to continue as a going concern. The Company does not have the resources at this time to repay its credit and debt obligations, make any payments in the form of dividends to its shareholders or implement its business plan. Without additional capital, the Company will not be able to remain in business. Management has plans to address the Company's financial situation as follows: In the near term, management plans to continue to focus on raising the funds necessary to implement the Company's business plan. Management will continue to seek out debt financing to obtain the capital required to meet the Company's financial obligations. There is no assurance, however, that lenders will continue to advance capital to the Company or that the new business operations will be profitable. The possibility of failure in obtaining additional funding and the potential inability to achieve profitability raise doubts about the Company's ability to continue as a going concern. In the long term, management believes that the Company's projects and initiatives will be successful and will provide cash flow to the Company, which will be used to finance the Company's future growth. However, there can be no assurances that the Company's planned activities will be successful, or that the Company will ultimately attain profitability. The Company's long-term viability depends on its ability to obtain adequate sources of debt or equity funding to meet current commitments and fund the continuation of its business operations, and the ability of the Company to achieve adequate profitability and cash flows from operations to sustain its operations.

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Jun. 30, 2015
Summary of Significant Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Note 3. Summary of Significant Accounting Policies Interim Financial Statements The accompanying these unaudited financial statements have been prepared in accordance with generally accepted accounting (“GAAP”) principles in the United States of America for interim financial information and with the instructions to Form 10-Q and Regulation S-X. Accordingly, the Consolidated financial statements do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. In the opinion of management, all adjustments considered necessary for a fair presentation have been included and such adjustments are of a normal recurring nature. These Consolidated financial statements should be read in conjunction with the Consolidated financial statements for the fiscal year ended March 31, 2015 and notes thereto and other pertinent information contained in our Form 10-K the Company has filed with the Securities and Exchange Commission (the “SEC”). The results of operations for the three-month period ended June 30, 2015 are not necessarily indicative of the results to be expected for the full fiscal year ending March 31, 2016. Basis of Presentation The consolidated financial statements and related disclosures have been prepared pursuant to the rules and regulations of the SEC. The financial statements have been prepared using the accrual basis of accounting in accordance with accounting principles generally accepted in the United States of America (“GAAP”). Principles of Consolidation The consolidated financial statements include the accounts and operations of Rainbow Coral Corp., and its wholly owned subsidiaries, Rainbow Biosciences, LLC and Father Fish Aquarium, Inc. (collectively referred to as the “Company”). All material intercompany accounts and transactions have been eliminated in consolidation. Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America 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 revenue and expenses during the reporting period. Actual results could differ from those estimates. Cash and Cash Equivalents For the purpose of the financial statements, cash equivalents include all highly liquid investments with maturity of three months or less. Cash and cash equivalents were $ 2,740 5,180 Inventory Inventory represents aquarium products and other pet supply items valued at the lower of cost or net realizable value determined using the weighted average cost method, and with market defined as the lower of replacement cost or realizable value. The cost of inventory includes all costs to purchase, costs of conversion and other costs incurred in bringing the inventory to its present location and condition. Inventory is reduced for the estimated losses due to obsolescence. Fixed Assets Fixed assets of the Company include vehicles and computer equipment and are stated at cost. Expenditures for fixed assets that substantially increase the useful lives of existing assets are capitalized at cost and depreciated. Routine expenditures for repairs and maintenance are expensed as incurred. Depreciation is provided principally on the straight-line method over the estimated useful lives of three five Impairment of Long-Lived Assets Long-lived assets, including fixed assets and intangible assets, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of the long-lived asset may not be recoverable. The carrying amount of a long-lived asset is not recoverable if it exceeds the sum of the undiscounted cash flows expected to result from the use and eventual disposition of the asset. If it is determined that an impairment loss has occurred, the loss is measured as the amount by which the carrying amount of the long-lived asset exceeds its fair value. The Company determined that there was no impairment of long-lived assets during the three months ended June 30, 2015. Revenue and Cost Recognition The Company recognizes revenue when persuasive evidence of an arrangement exists, product delivery has occurred or the services have been rendered, the price is fixed or determinable and collectability is reasonably assured. Revenue is generated from the sales of live coral and other related products in a retail setting. Revenue is recognized net of sales returns and allowances. Costs of goods sold represents product costs associated with generating revenue. It includes all costs of purchase, costs of conversion and other costs of acquiring products that have been sold. Income Taxes The Company accounts for income taxes under ASC 740 Income Taxes Earnings (Loss) per Common Share The Company computes basic and diluted earnings per common share amounts in accordance with ASC Topic 260, Earnings per Share no In periods in which a net loss has been incurred, all potentially dilutive common shares are considered anti-dilutive and thus are excluded from the calculation. The Company's convertible debt is considered anti-dilutive due to the Company's net loss for the years ended March 31, 2015 and 2014. As a result, the Company did not have any potentially dilutive common shares for those periods. For the year ended March 31, 2015 and 2014, potentially issuable shares as a result of conversions of convertible notes payable have been excluded from the calculation. At March 31, 2015, the Company had 26,679,469 Financial Instruments The Company's balance sheet includes certain financial instruments. The carrying amounts of current assets and current liabilities approximate their fair value because of the relatively short period between the origination of these instruments and their expected realization. Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 820 Fair Value Measurements and Disclosures Level 1 - Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities. Level 2 - Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly, including quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities in markets that are not active; inputs other than quoted prices that are observable for the asset or liability (e.g., interest rates); and inputs that are derived principally from or corroborated by observable market data by correlation or other means. Level 3 - Inputs that are both significant to the fair value measurement and unobservable. Fair value estimates discussed herein are based upon certain market assumptions and pertinent information available to management as of June 30, 2015. The respective carrying value of certain on-balance-sheet financial instruments approximated their fair values due to the short-term nature of these instruments. These financial instruments include accounts payable, and accrued expenses. The fair value of the Company's notes payable is estimated based on current rates that would be available for debt of similar terms that is not significantly different from its stated value. Subsequent events The Company evaluated material events occurring between the end of the current period, June 30, 2015, and through the date when the consolidated financial statements were available to be issued for disclosure consideration. Recently Issued Accounting Pronouncements There were various other accounting standards and interpretations issued recently, none of which are expected to a have a material impact on the Company's consolidated financial position, operations or cash flows.

Advances

Advances	3 Months Ended
	Jun. 30, 2015
Advances [Abstract]
Advances	Note 4. Advances During the three months ended June 30, 2015, Vista View Ventures, Inc. advanced $ 54,006 54,006 0 0

Convertible Notes Payable

Convertible Notes Payable	3 Months Ended
	Jun. 30, 2015
Convertible Notes Payable [Abstract]
Convertible Notes Payable	Note 5. Convertible Notes Payable Convertible notes payable consist of the following as of June 30, 2015 and March 31, 2015: June 30, 2015 March 31, 2015 Convertible note, dated June 30, 2014 10 June 30, 2016 0.02 55,247 62,980 Convertible note, dated September 30, 2014 10 September 30, 2016 0.01 80,133 80,133 Convertible note, dated December 31, 2014 10 December 31, 2016 0.01 94,074 94,074 Convertible note, dated December 31, 2014 10 December 31, 2016 0.02 — 125,059 Convertible note, dated March 31, 2015 10 March 31, 2017 0.007 39,635 39,635 Convertible note, dates June 30, 2015 10 June 30, 2017 0.25 54,006 — Total convertible notes payable $ 323,095 $ 401,881 Less: current portion of convertible notes payable (55,247 ) — Less: discount on convertible notes payable (226,888 ) (237,643 ) Convertible notes payable, net of discount $ 40,960 $ 164,238 Advances Refinanced into Convertible Promissory Notes During the three months ended June 30, 2015, the Company has signed a convertible promissory note with Vista View Ventures, Inc. that refinanced non-interest bearing advances into a convertible notes payable. The convertible promissory note bears interest at 10 Date Issued Maturity Date Interest Rate Conversion Rate Note Amount June 30, 2015 June 30, 2017 10 % $ 0.25 $ 54,006 Total $ 54,006 Derivatives and Hedging - Contracts in Entity's Own Stock 54,006 Conversions into common stock During the three months ended June 30, 2015, the holders of the convertible note payable dated December 31, 2014 elected to convert principal of $ 125,059 5,208 6,513,344 During the three months ended June 30, 2015, the holders of the convertible note payable dated June 30, 2014 elected to convert principal of $ 7,733 5,867 680,000

Related Party Transactions

Related Party Transactions	3 Months Ended
	Jun. 30, 2015
Related Party Transactions [Abstract]
Related Party Transactions	Note 6. Related Party Transactions During the three months ended June 30, 2015, Mr. Foxwell, the president of Father Fish, advanced $ 12,060 177,274 165,214

Stockholders' Deficit

Stockholders' Deficit	3 Months Ended
	Jun. 30, 2015
Stockholders' Deficit [Abstract]
Stockholders' Deficit	Note 7. Stockholders' Equity On May 29, 2015 Nevada one 100 480 20 0.001 Conversion of shares During three months ended June 30, 2015, the Company issued 7,193,344

Commitments

Commitments	3 Months Ended
	Jun. 30, 2015
Commitments [Abstract]
Commitments	Note 8. Commitments The Company has an arrangement with a third party whereby the third party provides the Company with office space, legal services, accounting services, fundraising and management services. During the three months ending June 30, 2015, the Company incurred $ 34,881 172,246

Business Segments

Business Segments	3 Months Ended
	Jun. 30, 2015
Business Segments [Abstract]
Business Segments	Note 9. Business Segments The Company has two reportable operating segments: (1) aquarium and aquarium supplies and (2) medical technology. These reportable segments are managed separately due to differences in their products. The only segment that generates revenue is aquarium and aquarium supplies. Management evaluates and monitors performance of this segment primarily through, among other measures, gross profit. The medical technology segment is in the development stage and not begun to generate revenue. The results of operations and financial position of the two reportable operating segments and corporate were as follows: Results of Operations: Year ended June 30, 2015 2014 REVENUE Aquarium and aquarium supplies $ 27,683 $ 35,147 Medical technology — — Corporate — — $ 27,683 $ 35,147 GROSS PROFIT Aquarium and aquarium supplies $ 15,008 $ 17,864 Medical technology — — Corporate — — $ 15,008 17,864 OPERATING EXPENSES Aquarium and aquarium supplies $ 20,963 $ 27,778 Medical technology 10,000 40,000 Corporate 94,881 101,907 $ 125,844 $ 169,685 Corporate operating expense includes general and administrative costs not allocated to operating segments. June 30, 2015 March 31, 2015 TOTAL ASSETS Aquarium and aquarium supplies $ 7,035 $ 6,800 Medical technology — — Corporate 844 4,528 $ 7,879 $ 11,328

Subsequent Events

Subsequent Events	3 Months Ended
	Jun. 30, 2015
Subsequent Events [Abstract]
Subsequent Events	Note 10. Subsequent Events On July 7, 2015 3,855 five On July 8, 2015 1,400 70,000 On July 16, 2015 7,520 376,000 On July 22, 2015 3,220 161,000 On July 23, 2015 995 49,750 On July 24, 2015 4,920 246,000 On August 3, 2015 2,200 110,000 On August 11, 2015 3,860 196,000

Summary of Significant Accoun17

Summary of Significant Accounting Policies (Policy)	3 Months Ended
	Jun. 30, 2015
Summary of Significant Accounting Policies [Abstract]
Interim Financial Statements	Interim Financial Statements The accompanying these unaudited financial statements have been prepared in accordance with generally accepted accounting (“GAAP”) principles in the United States of America for interim financial information and with the instructions to Form 10-Q and Regulation S-X. Accordingly, the Consolidated financial statements do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. In the opinion of management, all adjustments considered necessary for a fair presentation have been included and such adjustments are of a normal recurring nature. These Consolidated financial statements should be read in conjunction with the Consolidated financial statements for the fiscal year ended March 31, 2015 and notes thereto and other pertinent information contained in our Form 10-K the Company has filed with the Securities and Exchange Commission (the “SEC”). The results of operations for the three-month period ended June 30, 2015 are not necessarily indicative of the results to be expected for the full fiscal year ending March 31, 2016.
Basis of Presentation	Basis of Presentation The consolidated financial statements and related disclosures have been prepared pursuant to the rules and regulations of the SEC. The financial statements have been prepared using the accrual basis of accounting in accordance with accounting principles generally accepted in the United States of America (“GAAP”).
Principles of Consolidation	Principles of Consolidation The consolidated financial statements include the accounts and operations of Rainbow Coral Corp., and its wholly owned subsidiaries, Rainbow Biosciences, LLC and Father Fish Aquarium, Inc. (collectively referred to as the “Company”). All material intercompany accounts and transactions have been eliminated in consolidation.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America 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 revenue and expenses during the reporting period. Actual results could differ from those estimates.
Cash and Cash Equivalents	Cash and Cash Equivalents For the purpose of the financial statements, cash equivalents include all highly liquid investments with maturity of three months or less. Cash and cash equivalents were $ 2,740 5,180
Inventory	Inventory Inventory represents aquarium products and other pet supply items valued at the lower of cost or net realizable value determined using the weighted average cost method, and with market defined as the lower of replacement cost or realizable value. The cost of inventory includes all costs to purchase, costs of conversion and other costs incurred in bringing the inventory to its present location and condition. Inventory is reduced for the estimated losses due to obsolescence.
Fixed Assets	Fixed Assets Fixed assets of the Company include vehicles and computer equipment and are stated at cost. Expenditures for fixed assets that substantially increase the useful lives of existing assets are capitalized at cost and depreciated. Routine expenditures for repairs and maintenance are expensed as incurred. Depreciation is provided principally on the straight-line method over the estimated useful lives of three five
Impairment of Long-Lived Assets	Impairment of Long-Lived Assets Long-lived assets, including fixed assets and intangible assets, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of the long-lived asset may not be recoverable. The carrying amount of a long-lived asset is not recoverable if it exceeds the sum of the undiscounted cash flows expected to result from the use and eventual disposition of the asset. If it is determined that an impairment loss has occurred, the loss is measured as the amount by which the carrying amount of the long-lived asset exceeds its fair value. The Company determined that there was no impairment of long-lived assets during the three months ended June 30, 2015.
Revenue and Cost Recognition	Revenue and Cost Recognition The Company recognizes revenue when persuasive evidence of an arrangement exists, product delivery has occurred or the services have been rendered, the price is fixed or determinable and collectability is reasonably assured. Revenue is generated from the sales of live coral and other related products in a retail setting. Revenue is recognized net of sales returns and allowances. Costs of goods sold represents product costs associated with generating revenue. It includes all costs of purchase, costs of conversion and other costs of acquiring products that have been sold.
Income Taxes	Income Taxes The Company accounts for income taxes under ASC 740 Income Taxes
Earnings (Loss) per Common Share	Earnings (Loss) per Common Share The Company computes basic and diluted earnings per common share amounts in accordance with ASC Topic 260, Earnings per Share no In periods in which a net loss has been incurred, all potentially dilutive common shares are considered anti-dilutive and thus are excluded from the calculation. The Company's convertible debt is considered anti-dilutive due to the Company's net loss for the years ended March 31, 2015 and 2014. As a result, the Company did not have any potentially dilutive common shares for those periods. For the year ended March 31, 2015 and 2014, potentially issuable shares as a result of conversions of convertible notes payable have been excluded from the calculation. At March 31, 2015, the Company had 26,679,469
Financial Instruments	Financial Instruments The Company's balance sheet includes certain financial instruments. The carrying amounts of current assets and current liabilities approximate their fair value because of the relatively short period between the origination of these instruments and their expected realization. Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 820 Fair Value Measurements and Disclosures Level 1 - Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities. Level 2 - Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly, including quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities in markets that are not active; inputs other than quoted prices that are observable for the asset or liability (e.g., interest rates); and inputs that are derived principally from or corroborated by observable market data by correlation or other means. Level 3 - Inputs that are both significant to the fair value measurement and unobservable. Fair value estimates discussed herein are based upon certain market assumptions and pertinent information available to management as of June 30, 2015. The respective carrying value of certain on-balance-sheet financial instruments approximated their fair values due to the short-term nature of these instruments. These financial instruments include accounts payable, and accrued expenses. The fair value of the Company's notes payable is estimated based on current rates that would be available for debt of similar terms that is not significantly different from its stated value.
Subsequent events	Subsequent events The Company evaluated material events occurring between the end of the current period, June 30, 2015, and through the date when the consolidated financial statements were available to be issued for disclosure consideration.
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements There were various other accounting standards and interpretations issued recently, none of which are expected to a have a material impact on the Company's consolidated financial position, operations or cash flows.

Convertible Notes Payable (Tabl

Convertible Notes Payable (Tables)	3 Months Ended
	Jun. 30, 2015
Convertible Notes Payable [Abstract]
Schedule of Convertible Notes Payable	June 30, 2015 March 31, 2015 Convertible note, dated June 30, 2014 10 June 30, 2016 0.02 55,247 62,980 Convertible note, dated September 30, 2014 10 September 30, 2016 0.01 80,133 80,133 Convertible note, dated December 31, 2014 10 December 31, 2016 0.01 94,074 94,074 Convertible note, dated December 31, 2014 10 December 31, 2016 0.02 — 125,059 Convertible note, dated March 31, 2015 10 March 31, 2017 0.007 39,635 39,635 Convertible note, dates June 30, 2015 10 June 30, 2017 0.25 54,006 — Total convertible notes payable $ 323,095 $ 401,881 Less: current portion of convertible notes payable (55,247 ) — Less: discount on convertible notes payable (226,888 ) (237,643 ) Convertible notes payable, net of discount $ 40,960 $ 164,238
Schedule of Convertible Notes Issued	Date Issued Maturity Date Interest Rate Conversion Rate Note Amount June 30, 2015 June 30, 2017 10 % $ 0.25 $ 54,006 Total $ 54,006

Business Segments (Tables)

Business Segments (Tables)	3 Months Ended
	Jun. 30, 2015
Business Segments [Abstract]
Schedule of Results of Operations by Reporting Segment	Results of Operations: Year ended June 30, 2015 2014 REVENUE Aquarium and aquarium supplies $ 27,683 $ 35,147 Medical technology — — Corporate — — $ 27,683 $ 35,147 GROSS PROFIT Aquarium and aquarium supplies $ 15,008 $ 17,864 Medical technology — — Corporate — — $ 15,008 17,864 OPERATING EXPENSES Aquarium and aquarium supplies $ 20,963 $ 27,778 Medical technology 10,000 40,000 Corporate 94,881 101,907 $ 125,844 $ 169,685 Corporate operating expense includes general and administrative costs not allocated to operating segments. June 30, 2015 March 31, 2015 TOTAL ASSETS Aquarium and aquarium supplies $ 7,035 $ 6,800 Medical technology — — Corporate 844 4,528 $ 7,879 $ 11,328

General Organization and Busi20

General Organization and Business (Details) - USD ($)	1 Months Ended	3 Months Ended
	Mar. 31, 2012	Jun. 30, 2015	Jun. 30, 2014
Related Party Transaction [Line Items]
Expenses related to joint ventures and business development activities		$ 10,000	$ 40,000
Nano3D Biosciences, Inc. ("N3D") [Member]
Related Party Transaction [Line Items]
Shares acquired of joint venture's common stock	145
Payments to joint venture	$ 60,000
Expenses related to joint ventures and business development activities		$ 10,000
Nano3D Biosciences, Inc. ("N3D") [Member] | Scenario, Plan [Member]
Related Party Transaction [Line Items]
Shares acquired of joint venture's common stock	604
Percentage of outstanding stock acquired	5.00%
Common stock, price per share	$ 413.62
Payments to joint venture	$ 249,826
Weekly payments to joint venture	$ 5,000
TheraKine Ltd. ("TheraKine") [Member]
Related Party Transaction [Line Items]
Expenses related to joint ventures and business development activities

Going Concern (Details)

Going Concern (Details) - USD ($)	3 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Going Concern [Abstract]
Net loss	$ 136,929	$ 374,909
Net cash used in operating activities	65,892	$ 107,769
Negative working capital	$ 513,274

Summary of Significant Accoun22

Summary of Significant Accounting Policies (Details)	3 Months Ended	12 Months Ended
	Jun. 30, 2015USD ($)	Mar. 31, 2015USD ($)shares	Jun. 30, 2014USD ($)	Mar. 31, 2014USD ($)
Summary of Significant Accounting Policies [Abstract]
Cash and cash equivalents	$ 2,740	$ 5,180	$ 19,240	$ 65,373
Potentially issuable shares upon the conversion of convertible notes payable and interest | shares		26,679,469
Minimum [Member]
Property, Plant and Equipment [Line Items]
Estimated Useful Lives	3 years
Maximum [Member]
Property, Plant and Equipment [Line Items]
Estimated Useful Lives	5 years

Advances (Details)

Advances (Details) - USD ($)	3 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Mar. 31, 2015
Advances [Abstract]
Proceeds from advances	$ 54,006	$ 62,980
Refinance advances into convertible note payable	54,006	$ 212,433
Advances payable	$ 0		$ 0

Convertible Notes Payable (Sche

Convertible Notes Payable (Schedule of Convertible Notes Payable) (Details) - USD ($)	3 Months Ended
	Jun. 30, 2015	Mar. 31, 2015
Debt Instrument [Line Items]
Less: discount on convertible notes payable	$ (226,888)	$ (237,643)
Convertible notes payable, net of discount	40,960	164,238
Refinance Non-Interest Bearing Advances [Member]
Debt Instrument [Line Items]
Total convertible notes payable	323,095	$ 401,881
Less: current portion of convertible notes payable	(55,247)
Less: discount on convertible notes payable	(226,888)	$ (237,643)
Convertible notes payable, net of discount	40,960	164,238
Convertible Note Payable Dated June 30, 2014 [Member] | Refinance Non-Interest Bearing Advances [Member]
Debt Instrument [Line Items]
Total convertible notes payable	$ 55,247	62,980
Debt instrument, issuance date	Jun. 30, 2014
Debt instrument, maturity date	Jun. 30, 2016
Debt instrument, interest rate	10.00%
Debt instrument, conversion price per share	$ 0.02
Convertible Note Payable Dated September 20, 2014 [Member] | Refinance Non-Interest Bearing Advances [Member]
Debt Instrument [Line Items]
Total convertible notes payable	$ 80,133	80,133
Debt instrument, issuance date	Sep. 30, 2014
Debt instrument, maturity date	Sep. 30, 2016
Debt instrument, interest rate	10.00%
Debt instrument, conversion price per share	$ 0.01
Convertible Note Payable Dated December 31, 2014 [Member] | Refinance Non-Interest Bearing Advances [Member]
Debt Instrument [Line Items]
Total convertible notes payable	$ 94,074	94,074
Debt instrument, issuance date	Dec. 31, 2014
Debt instrument, maturity date	Dec. 31, 2016
Debt instrument, interest rate	10.00%
Debt instrument, conversion price per share	$ 0.01
Convertible Note Payable Dated December 31, 2014, Two [Member] | Refinance Non-Interest Bearing Advances [Member]
Debt Instrument [Line Items]
Total convertible notes payable		125,059
Debt instrument, issuance date	Dec. 31, 2014
Debt instrument, maturity date	Dec. 31, 2016
Debt instrument, interest rate	10.00%
Debt instrument, conversion price per share	$ 0.02
Convertible Note Payable Dated March 31, 2015 [Member] | Refinance Non-Interest Bearing Advances [Member]
Debt Instrument [Line Items]
Total convertible notes payable	$ 39,635	$ 39,635
Debt instrument, issuance date	Mar. 31, 2015
Debt instrument, maturity date	Mar. 31, 2017
Debt instrument, interest rate	10.00%
Debt instrument, conversion price per share	$ 0.007
Convertible Note Payable Dated June 30, 2015 [Member] | Refinance Non-Interest Bearing Advances [Member]
Debt Instrument [Line Items]
Total convertible notes payable	$ 54,006
Debt instrument, issuance date	Jun. 30, 2015
Debt instrument, maturity date	Jun. 30, 2017
Debt instrument, interest rate	10.00%
Debt instrument, conversion price per share	$ 0.25

Convertible Notes Payable (Sc25

Convertible Notes Payable (Schedule of Convertible Notes Issued) (Details) - USD ($)	3 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Debt Instrument [Line Items]
Beneficial conversion discount on convertible notes	$ 54,006	$ 212,433
Refinance Non-Interest Bearing Advances [Member]
Debt Instrument [Line Items]
Debt instrument, face amount	$ 54,006
Convertible Note Payable Dated June 30, 2015 [Member] | Refinance Non-Interest Bearing Advances [Member]
Debt Instrument [Line Items]
Debt instrument, issuance date	Jun. 30, 2015
Debt instrument, maturity date	Jun. 30, 2017
Debt instrument, interest rate	10.00%
Debt instrument, conversion price per share	$ 0.25
Debt instrument, face amount	$ 54,006

Convertible Notes Payable (Conv

Convertible Notes Payable (Conversions to Common Stock) (Details) - 3 months ended Jun. 30, 2015 - USD ($)	Total
Debt Conversion [Line Items]
Conversion of convertible notes and interest into common stock, shares	7,193,344
Convertible Note Payable Dated December 31, 2014, Two [Member]
Debt Conversion [Line Items]
Amount of note principal converted	$ 125,059
Amount of note interest converted	$ 5,208
Conversion of convertible notes and interest into common stock, shares	6,513,344
Convertible Note Payable Dated June 30, 2014 [Member]
Debt Conversion [Line Items]
Amount of note principal converted	$ 7,733
Amount of note interest converted	$ 5,867
Conversion of convertible notes and interest into common stock, shares	680,000

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($)	3 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Mar. 31, 2015
Related Party Transactions [Abstract]
Related party payables	$ 177,274		$ 165,214
Proceeds from related party advance	$ 12,060

Stockholders' Equity (Details)

Stockholders' Equity (Details)	3 Months Ended
	Jun. 30, 2015$ / sharesshares	Mar. 31, 2015$ / sharesshares
Stockholders' Deficit [Abstract]
Reinncorporation, date	May 29, 2015
Reinncorporation, state	Nevada
Reverse stock split ratio	0.01
Preferred Stock, shares authorized	20,000,000	20,000,000
Preferred Stock, par value per share | $ / shares	$ 0.001	$ 0.001
Common Stock, shares authorized	480,000,000	480,000,000
Common Stock, par value per share | $ / shares	$ 0.001	$ 0.001
Conversion of convertible notes and interest into common stock, shares	7,193,344

Commitments (Details)

Commitments (Details) - Jun. 30, 2015 - Office Space, Legal Services, Accounting Services, Fundraising and Management Services [Member] - USD ($)	Total
Other Commitments [Line Items]
Fees incurred in the period	$ 34,881
Commitments recorded as accounts payable and accrued expenses	$ 172,246

Business Segments (Details)

Business Segments (Details) - USD ($)	3 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Mar. 31, 2015
Segment Reporting Information [Line Items]
REVENUE	$ 27,683	$ 35,147
GROSS PROFIT	15,008	17,864
OPERATING EXPENSES	125,844	169,685
TOTAL ASSETS	7,879		$ 11,328
Aquarium and Aquarium Supplies [Member]
Segment Reporting Information [Line Items]
REVENUE	27,683	35,147
GROSS PROFIT	15,008	17,864
OPERATING EXPENSES	20,963	$ 27,778
TOTAL ASSETS	$ 7,035		$ 6,800
Medical Technology [Member]
Segment Reporting Information [Line Items]
REVENUE
GROSS PROFIT
OPERATING EXPENSES	$ 10,000	$ 40,000
TOTAL ASSETS
Corporate [Member]
Segment Reporting Information [Line Items]
REVENUE
GROSS PROFIT
OPERATING EXPENSES	$ 94,881	$ 101,907
TOTAL ASSETS	$ 844		$ 4,528

Subsequent Events (Details)

Subsequent Events (Details) - USD ($)	1 Months Ended	3 Months Ended
	Aug. 14, 2015	Jun. 30, 2015	Jun. 30, 2014
Subsequent Event [Line Items]
Conversion of convertible notes to common stock		$ 143,867	$ 238,368
Conversion of convertible notes and interest into common stock, shares		7,193,344
Subsequent Event [Member]
Subsequent Event [Line Items]
Shares issued to satisfy the requirements of the reincorporation and reverse split	3,855
Subsequent Event [Member] | Debt Conversion July 8, 2015 [Member]
Subsequent Event [Line Items]
Date	Jul. 8, 2015
Conversion of convertible notes to common stock	$ 1,400
Conversion of convertible notes and interest into common stock, shares	70,000
Subsequent Event [Member] | Debt Conversion July 16, 2015 [Member]
Subsequent Event [Line Items]
Date	Jul. 16, 2015
Conversion of convertible notes to common stock	$ 7,520
Conversion of convertible notes and interest into common stock, shares	376,000
Subsequent Event [Member] | Debt Conversion July 22, 2015 [Member]
Subsequent Event [Line Items]
Date	Jul. 22, 2015
Conversion of convertible notes to common stock	$ 3,220
Conversion of convertible notes and interest into common stock, shares	161,000
Subsequent Event [Member] | Debt Conversion July 23, 2015 [Member]
Subsequent Event [Line Items]
Date	Jul. 23, 2015
Conversion of convertible notes to common stock	$ 995
Conversion of convertible notes and interest into common stock, shares	49,750
Subsequent Event [Member] | Debt Conversion July 24, 2015 [Member]
Subsequent Event [Line Items]
Date	Jul. 24, 2015
Conversion of convertible notes to common stock	$ 4,920
Conversion of convertible notes and interest into common stock, shares	246,000
Subsequent Event [Member] | Debt Conversion August 3, 2015 [Member]
Subsequent Event [Line Items]
Date	Aug. 3, 2015
Conversion of convertible notes to common stock	$ 2,200
Conversion of convertible notes and interest into common stock, shares	110,000
Subsequent Event [Member] | Debt Conversion August 11, 2015 [Member]
Subsequent Event [Line Items]
Date	Aug. 11, 2015
Conversion of convertible notes to common stock	$ 3,860
Conversion of convertible notes and interest into common stock, shares	196,000