Document_and_Entity_Informatio
Document and Entity Information (USD $) | 12 Months Ended | |
Mar. 31, 2014 | Jul. 11, 2014 | |
Document And Entity Information | ' | ' |
Entity Registrant Name | 'Rich Pharmaceuticals, Inc. | ' |
Entity Central Index Key | '0001504389 | ' |
Document Type | '10-K | ' |
Document Period End Date | 31-Mar-14 | ' |
Amendment Flag | 'false | ' |
Current Fiscal Year End Date | '--03-31 | ' |
Is Entity a Well-known Seasoned Issuer? | 'No | ' |
Is Entity a Voluntary Filer? | 'No | ' |
Is Entity's Reporting Status Current? | 'No | ' |
Entity Filer Category | 'Smaller Reporting Company | ' |
Entity Public Float | ' | $0 |
Entity Common Stock, Shares Outstanding | ' | 415,494,772 |
Document Fiscal Period Focus | 'FY | ' |
Document Fiscal Year Focus | '2014 | ' |
Balance_Sheets
Balance Sheets (USD $) | Mar. 31, 2014 | Mar. 31, 2013 |
Current Assets | ' | ' |
Cash adn equivalents | $12,387 | $1,588 |
Prepaid Expenses | 1,561 | 0 |
Total Current Assets | 13,948 | 1,588 |
Property and equipment, net | 1,261 | ' |
Total Assets | 15,209 | 1,588 |
Current Liabilities | ' | ' |
Accounts payable and accrued expenses | 180,672 | 6,700 |
Accrued expenses | 451,290 | 0 |
Due to related parties | 36,000 | 24,318 |
Stock deposits | 147,050 | 0 |
Convertible note payable | 37,500 | 0 |
Total Liabilities | 852,512 | 31,018 |
STOCKHOLDERS DEFICIT | ' | ' |
Preferred Stock, $0.001 par value, 10,000,000 shares authorized, 6,000,000 and 0 shares issued and outstanding, respectively | 6,000 | 0 |
Common Stock, $0.001 par value, 37,503,000,000 shares authorized, 414,411,438 and 1,093,837,500 shares issued and outstanding, respectively | 414,411 | 2,625 |
Additional Paid-in Capital | 2,043,690 | 49,875 |
Deficit Accumulated During the Development Stage | -3,301,404 | -81,930 |
Total Stockholders Deficit | -837,303 | -29,430 |
Total Liabilities and Stockholders Deficit | $15,209 | $1,588 |
Balance_Sheets_Parenthetical
Balance Sheets (Parenthetical) (USD $) | Mar. 31, 2014 | Mar. 31, 2013 |
Statement of Financial Position [Abstract] | ' | ' |
Common Stock, Par Value | $0.00 | $0.00 |
Common Stock, Shares Authorized | 37,503,000,000 | 37,503,000,000 |
Common Stock, Issued | 414,411,438 | 1,093,837,500 |
Preferred Stock, Par Value | $0.00 | $0.00 |
Preferred Stock, Shares Authorized | 10,000,000 | 10,000,000 |
Preferred Stock, Issued | 6,000,000 | 0 |
Accumulated Amortization of intangible assets | ' | ' |
Statements_of_Operations
Statements of Operations (USD $) | 12 Months Ended | 44 Months Ended | |
Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2014 | |
Income Statement [Abstract] | ' | ' | ' |
Revenue | $0 | $0 | $0 |
Operating Expenses | ' | ' | ' |
Consulting expenses | 335,000 | 0 | 335,000 |
Office expenses | 39,569 | 0 | 39,569 |
Depreciation expense | 158 | 0 | 158 |
Wages and taxes | 291,358 | 0 | 291,358 |
Professional fees | 115,304 | 31,350 | 197,234 |
Regulatory fees | 37,591 | 0 | 37,591 |
Research and development | 123,802 | 0 | 123,802 |
Stock-based compensation | 1,869,273 | 0 | 1,869,273 |
Impairment of intangible assets | 168,973 | 0 | 168,973 |
Travel, meals and entertainment | 23,567 | 0 | 23,567 |
Total Operating Expenses | 3,004,595 | 31,350 | 3,086,525 |
Loss from operations | -3,004,595 | -31,350 | -3,086,525 |
Other Income (Expense) | ' | ' | ' |
Interest expense | -342 | 0 | -342 |
Loss before provision for income tax | -3,004,937 | -31,350 | -3,086,867 |
Provision for income tax | 0 | 0 | 0 |
Net Loss | ($3,004,937) | ($31,350) | ($3,086,867) |
Net Loss Per Share - Basic and Diluted | $0 | $0 | ' |
Weighted Average Shares Outstanding - Basic and Diluted | 615,222,893 | 1,093,837,500 | ' |
Shareholders_Equity
Shareholders Equity (USD $) | Common Stock | Additional Paid-In Capital | Accumulated Deficit During the Development Stage | Total |
Beginning balance, amount at Aug. 08, 2010 | ' | ' | ' | ' |
Beginning balance, shares at Aug. 08, 2010 | ' | ' | ' | ' |
Issuance of common stock for cash, shares | 1,093,837,500 | ' | ' | ' |
Issuance of common stock for cash, amount | 2,625 | 49,875 | ' | 52,500 |
Net loss | ' | ' | -18,689 | -18,689 |
Ending balance, amount at Mar. 31, 2011 | 2,625 | 49,875 | -18,689 | 33,811 |
Ending balance, shares at Mar. 31, 2011 | 1,093,837,500 | ' | ' | ' |
Net loss | ' | ' | -31,891 | -31,891 |
Ending balance, amount at Mar. 31, 2012 | 2,625 | 49,875 | -18,689 | 33,811 |
Ending balance, shares at Mar. 31, 2012 | 1,093,837,500 | ' | ' | ' |
Stock issued for intangible assets, amount | ' | ' | ' | 0 |
Forgiveness of shareholder debt | ' | ' | ' | 0 |
Net loss | ' | ' | -31,350 | -31,350 |
Ending balance, amount at Mar. 31, 2013 | 2,625 | 49,875 | -18,689 | -29,430 |
Beginning balance, shares at Mar. 31, 2013 | 1,093,837,500 | ' | ' | ' |
Stock issued for intangible assets, shares | 82,767,038 | ' | ' | ' |
Stock issued for intangible assets, amount | 199 | 117,774 | ' | 123,973 |
Shares cancellation, shares | -762,776,434 | ' | ' | ' |
Shares cancellation, amount | -1,831 | 1,831 | ' | ' |
Forgiveness of shareholder debt | ' | 28,818 | ' | 28,818 |
Stock split - 416.7 to 1 | 412,835 | -198,298 | -214,537 | ' |
Stock options granted for services | ' | 663,307 | ' | 663,307 |
Stock and warrants issued for cash, shares | 583,334 | ' | ' | ' |
Stock and warrants issued for cash, amount | 583 | 174,417 | ' | 175,000 |
Stock options granted for services | ' | 23,825 | ' | 23,825 |
Stock options granted for services | ' | 1,182,141 | ' | 1,182,141 |
Net loss | ' | ' | -3,004,937 | -3,004,937 |
Ending balance, amount at Mar. 31, 2014 | $414,411 | $2,043,690 | ($3,301,404) | ($837,303) |
Ending balance, shares at Mar. 31, 2014 | 414,411,438 | ' | ' | ' |
Shareholders_Equity_Parentheti
Shareholders Equity (Parenthetical) | 12 Months Ended |
Mar. 31, 2014 | |
Statement of Stockholders' Equity [Abstract] | ' |
Forward Split | 416.71 |
Statements_of_Cash_Flows
Statements of Cash Flows (USD $) | 12 Months Ended | 44 Months Ended | |
Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2014 | |
Operating Activities | ' | ' | ' |
Net loss | ($3,004,937) | ($31,350) | ($3,086,867) |
Adjustments to reconcile net loss to net cash used in operating activities | ' | ' | ' |
Depreciation expense | 158 | 0 | 158 |
Impairment of intangible assets | 168,973 | 0 | 168,973 |
Stock-based compensation | 1,869,273 | 0 | 1,869,273 |
Changes in operating assets and liabilities: | ' | ' | ' |
(Increase) in prepaid expenses | -1,561 | 0 | -1,561 |
Increase in accounts payable | 173,972 | 120 | 180,672 |
Increase in accrued expenses | 451,290 | 0 | 451,290 |
Net Cash Used in Operating Activities | -342,832 | -31,230 | -418,062 |
Investing Activities | ' | ' | ' |
Purchase of fixed assets | -1,419 | 0 | -1,419 |
Acquisition of intangible assets | -45,000 | 0 | -45,000 |
Net Cash Used in Investing Activities | -46,419 | 0 | -46,419 |
Financing Activities | ' | ' | ' |
Loans received from related parties | 40,500 | 20,318 | 64,818 |
Proceeds from stock deposits | 147,050 | 0 | 147,050 |
Proceeds from sale of common stock | 175,000 | 0 | 227,500 |
Issuance of convertible note payable | 37,500 | 0 | 37,500 |
Net Cash Provided by Financing Activities | 400,050 | 20,318 | 476,868 |
Net increase (decrease) in cash and cash equivlants | 10,799 | -10,912 | -12,387 |
Cash - Beginning of Period | 1,588 | 12,500 | 0 |
Cash - End of Period | 12,387 | 1,588 | 12,387 |
Supplemental Cash Flow Information: | ' | ' | ' |
Interest paid | 342 | 0 | 342 |
Income taxes paid | 0 | 0 | 0 |
Supplemental Non-cash Investing and Financing Information: | ' | ' | ' |
Forgivenss of shareholder debt recorded as contributed capital | 28,818 | 0 | 28,818 |
Common and preferred stock issued for intangible assets | $123,973 | $0 | $123,973 |
Summary_of_Significant_Account
Summary of Significant Accounting Policies | 12 Months Ended | ||||
Mar. 31, 2014 | |||||
Accounting Policies [Abstract] | ' | ||||
Summary of Significant Accounting Policies | ' | ||||
Nature of Business | |||||
On August 9, 2010 the Company was incorporated as Nepia Inc. in the State of Nevada. From August 9, 2010 to July 18, 2013, the Company was in the business of developing, manufacturing, and selling small boilers aimed at farmers primarily in Southeast Asia. Beginning on July 19, 2013, the Company acquired bio-pharmaceutical intellectual property for the treatment of acute myeloid leukemia (AML) and is entering into phase II human studies. The goal is to perfect this indication for marketing purposes for distribution world-wide. On August 26, 2013, as a consequence of our new business direction, the Company changed its name to Rich Pharmaceuticals, Inc. (“Rich” or “the Company”). | |||||
On July 18, 2013, the Company designated, from our 10,000,000 authorized shares of preferred stock, par value $0.001, 6,000,000 shares of Series “A” Preferred Stock. Our Series “A” Preferred Stock has voting rights of 100 votes per share and votes with common shares as a single class. | |||||
On July 18, 2013, the Company entered into an Asset Assignment Agreement (the “Assignment Agreement”) with Imagic, LLC and its principals to acquire certain assets including a US Patent entitled “Phorbol esters as anti-neoplastic and white blood cell elevating agents” and all related intellectual property associated with the patent. In consideration for the intellectual property the Company issued 82,767,038 common shares, and 6,000,000 Series “A” Preferred shares. The common and preferred shares were valued at $123,973. The Company further agreed to use its best efforts to complete a financing resulting in proceeds of at least $2,000,000. If the Company was unable to raise $400,000 according to the terms of the Assignment Agreement, the patent reverts back to Imagic, LLC and its principals. On January 17, 2014, the right of reversion was terminated in exchange for a payment of $20,000. | |||||
On July 19, 2013, the Company entered into an Agreement of Conveyance, Transfer and Assignment of Assets and Assumption of Obligations (the “Sale Agreement”) with our prior officers and directors. Pursuant to the Sale Agreement, the Company transferred all assets and business operations associated with our boiler business in exchange for assumption of all obligations associated with that business and cancellation of loans amounting to $28,818. The cancellation of debt was recorded as additional paid-in capital. In consequence to the Sale Agreement two former officers sold 531,292,500 common shares held by them to our new officer/director. In turn, our new officer/director agreed to cancel 500,255,434 of those shares he received and returned them to treasury for retirement. Certain other shareholders also agreed to cancel 262,521,000 common shares. | |||||
On September 5, 2013, the Company increased the authorized common shares, par value $0.001, from 90,000,000 shares to 37,503,000,000 shares. Correspondingly, the Company affirmed a forward split of 416.7 for 1 in which each shareholder was issued 416.7 common shares for each share held. All share and per share date included in these financial statements has been retrospectively adjusted to account for the stock split. | |||||
Development Stage Company | |||||
The accompanying financial statements have been prepared in accordance with generally accepted accounting principles related to development-stage companies. A development-stage company is one in which planned principal operations have not commenced or if its operations have commenced, and there has been no significant revenues there from. | |||||
Basis of Presentation | |||||
The financial statements of the Company have been prepared using the accrual basis of accounting in accordance with generally accepted accounting principles in the United States of America and are presented in U.S. dollars. The Company has adopted a March 31 fiscal year end. | |||||
Cash and Cash Equivalents | |||||
The Company considers all highly liquid investments with maturities of three months or less to be cash equivalents. At March 31, 2014 and 2013 the Company had $12,387 and $1,588, respectively, of unrestricted cash. | |||||
Property and Equipment | |||||
Property and equipment is recorded at cost and is depreciated using the straight-line method over the estimated useful lives of the related assets. The useful lives of the assets are as follows: | |||||
Computer equipment | 3 years | ||||
Long-Lived and Intangible Assets | |||||
The Company accounts for long-lived and intangible assets in accordance with ASC Topic 360-10-05, “Accounting for the Impairment or Disposal of Long-Lived Assets.” ASC Topic 360-10-05 requires that long-lived assets be reviewed for impairment whenever events or changes in circumstances indicate that the historical cost carrying value of an asset may no longer be appropriate. The Company assesses recoverability of the carrying value of an asset by estimating the future net cash flows expected to result from the asset, including eventual disposition. If the future net cash flows are less than the carrying value of the asset, an impairment loss is recorded equal to the difference between the asset’s carrying value and fair value or disposable value. As of March 31, 2014, the Company fully impaired their intangible assets to $0. | |||||
Fair Value of Financial Instruments | |||||
The Company’s financial instruments consist of cash and cash equivalents, prepaid expenses, accounts payable, accrued expenses, amounts due to related parties, stock deposits, and a convertible note payable. The carrying amount of these financial instruments approximates fair value due either to length of maturity or interest rates that approximate prevailing market rates unless otherwise disclosed in these financial statements. | |||||
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. | |||||
Income Taxes | |||||
Income taxes are computed using the asset and liability method. Under the asset and liability method, deferred income tax assets and liabilities are determined based on the differences between the financial reporting and tax bases of assets and liabilities and are measured using the currently enacted tax rates and laws. A valuation allowance is provided for the amount of deferred tax assets that, based on available evidence, are not expected to be realized. | |||||
Stock-Based Compensation | |||||
Stock-based compensation is accounted for at fair value in accordance with ASC Topic 718. On September 6, 2013, the Company approved the adoption of Rich Pharmaceuticals, Inc. 2013 Stock Option/Stock Issuance Plan (the "2013 Plan”). The 2013 Plan is intended to aid in recruiting and retaining key employees, directors or consultants and to motivate them by providing incentives through the granting of awards of stock options or other stock based awards. The 2013 Plan is administered by the board of directors. Directors, officers, employees and consultants and our affiliates are eligible to participate under the 2013 Plan. A total of 60,000,000 common shares have been reserved for awards under the 2013 Plan. During the year ended March 31, 2014, the Company granted 47,503,280 stock options to officers, directors, employees and consultants. | |||||
Basic loss per share | |||||
The basic earnings (loss) per share is calculated by dividing the Company’s net income available to common shareholders by the weighted average number of common shares during the year. The diluted earnings (loss) per share is calculated by dividing the Company’s net income (loss) available to common shareholders by the diluted weighted average number of shares outstanding during the year. The diluted weighted average number of shares outstanding is the basic weighted number of shares adjusted as of the first of the year for any potentially dilutive debt or equity. | |||||
Revenue Recognition | |||||
The Company will recognize revenue when products are fully delivered or services have been provided and collection is reasonably assured. | |||||
Recent Accounting Pronouncements | |||||
The Company does not expect the adoption of recently issued accounting pronouncements to have a significant impact on the Company’s results of operations, financial position or cash flow. |
Property_and_equipment
Property and equipment | 12 Months Ended | ||||||||
Mar. 31, 2014 | |||||||||
Property, Plant and Equipment [Abstract] | ' | ||||||||
Property and equipment | ' | ||||||||
Property and equipment, recorded at cost, consisted of the following as of March 31, 2014 and 2013: | |||||||||
2014 | 2013 | ||||||||
Computer equipment | $ | 1,419 | $ | — | |||||
Less: accumulated depreciation | (158 | ) | — | ||||||
Property and equipment, net | $ | 1,261 | $ | — |
Intangible_Assets
Intangible Assets | 12 Months Ended |
Mar. 31, 2014 | |
Goodwill and Intangible Assets Disclosure [Abstract] | ' |
Intangible Assets | ' |
On July 18, 2013, the Company entered into an Asset Assignment Agreement (the “Assignment Agreement”) with Imagic, LLC and its principals to acquire certain assets including a US Patent entitled “Phorbol esters as anti-neoplastic and white blood cell elevating agents” and all related intellectual property associated with the patent. In consideration for the intellectual property the Company issued 82,767,038 common shares and 6,000,000 Series “A” Preferred Stock. These shares were valued at a total of $123,973. The Company has also paid additional funds to third parties to further the development of this asset and terminate the right of reversion totaling $45,000. The Company analyzed the assets at March 31, 2014 and determined that the value could not be supported and impaired the assets to $0. |
Accrued_Expenses
Accrued Expenses | 12 Months Ended | ||||||||
Mar. 31, 2014 | |||||||||
Payables and Accruals [Abstract] | ' | ||||||||
Accrued Expenses | ' | ||||||||
Accrued expenses consisted of the following as of March 31, 2014 and 2013: | |||||||||
2014 | 2013 | ||||||||
Wages and taxes | 151,290 | 0 | |||||||
Consulting | 300,000 | 0 | |||||||
Total accrued expenses | $ | 451,290 | $ | 0 | |||||
The Company amended a consulting agreement on May 7, 2014, to grant 2,500,000 shares to a consultant for work performed through March 31, 2014. The shares were valued on the grant date at $300,000 and that amount has been accrued as of March 31, 2014. |
Related_Party_Debt_and_Transac
Related Party Debt and Transactions | 12 Months Ended |
Mar. 31, 2014 | |
Related Party Transactions [Abstract] | ' |
Related Party Debt and Transactions | ' |
On July 19, 2013, we entered into an Agreement of Conveyance, Transfer and Assignment of Assets and Assumption of Obligations (the “Sale Agreement”) with our prior officers and directors. Pursuant to the Sale Agreement, we transferred all assets and business operations associated with our boiler business in exchange for assumption of all obligations associated with that business and cancellation of loans amounting to $28,818. The cancellation of debt was recorded as additional paid-in capital. As a result of this Sale Agreement, we are no longer pursuing our boiler business. In consequence to the Sale Agreement two former officers sold 1,275,000 pre-split common shares held by them to our new officer/director. In turn, our new officer/director agreed to cancel 1,200,517 of those shares he received and returned them to treasury. | |
We received a loan of $100 from our new officer/director to open a bank account. | |
On September 6, 2013, we entered into an Employment Agreement with our Chief Executive Officer, Chief Financial Officer, President and Secretary. The Employment Agreement provides for a term of two years; annual compensation of $275,000; an amount equal to 3 months compensation payable upon entering into the agreement; and options to purchase up to 3,000,000 shares of common stock at an exercise price of $0.02 per post-split share; 50% of which are vested on October 1, 2013, and 50% of which will vest monthly over 24 months of continued employment. |
Stock_Deposits
Stock Deposits | 12 Months Ended |
Mar. 31, 2014 | |
Notes to Financial Statements | ' |
Stock Deposits | ' |
The Company received deposits for future stock purchases during the year ended March 31, 2014 totaling $147,050. The Company signed subscription agreements with four investors on June 16, 2014 to grant 1,469,000 shares of common stock in exchange for the deposits. |
Convertible_Note_Payable
Convertible Note Payable | 12 Months Ended |
Mar. 31, 2014 | |
Debt Disclosure [Abstract] | ' |
Convertible Note Payable | ' |
On March 20, 2014, the Company issued a convertible promissory note in the amount of $37,500. The note is due on December 13, 2014 and bears interest at 8% per annum. The loan becomes convertible 180 days after the date of the note. The loan and any accrued interest can then be converted into shares of the Company’s common stock at a rate of 58% multiplied by the market price, which is the average of the lowest three (3) trading prices for the common stock during the ten (10) trading day period ending on the latest complete trading day prior to the conversion date. As of March 31, 2014, the Company has not converted any portion of this note into shares of common stock. |
Commitments_and_Contigencies
Commitments and Contigencies | 12 Months Ended |
Mar. 31, 2014 | |
Accounting Policies [Abstract] | ' |
Commitments and Contingencies | ' |
The Company leases office space on a verbal month-to-month agreement. Monthly rent is approximately $2,500. | |
The inventor of the intellectual property which was assigned to Rich Pharmaceuticals, Inc. in July 2013 by Imagic, LLC and Richard L. Chang’s Holdings, LLC is presently in declaratory relief litigation with Biosuccess Biotech, Co. LTD. (“Biosuccess”), a company who was previously assigned licensing rights in the intellectual property. In connection with this litigation, on January 17, 2014, the Company received notice of a complaint filed by Biosuccess against the Company, Imagic, LLC, Richard L. Chang’s Holdings, LLC, and Ben Chang (our CEO and a director) in the United States District Court, Central District of California Western Division. The Complaint includes allegations of patent and copyright infringement, misappropriation of trade secrets, breach of fiduciary duty, unfair competition and other causes of actions against the Company, Imagic, LLC, Richard L. Chang’s Holdings, LLC, and Ben Chang. The Complaint seeks relief which includes compensatory damages, attorneys’ fees and costs, an award of treble damages, and such other relief as the court may deem just and proper. | |
The Company believes the allegations in the complaint are without merit and the Company intends to defend itself in the litigation. However, the Company may incur substantial expenses and the diversion of financial resources and management personnel in responding to the complaint. Additionally, an adverse determination against us in the litigation may subject us to significant liabilities or require us to seek licenses that may not be available from third parties on commercially favorable terms, if at all. Further, an adverse determination against us in the litigation may require us to pay substantial financial damages, which can be tripled if the infringement is deemed willful, or be required to discontinue or significantly delay development, marketing, selling and licensing of the Company’s affected products and intellectual property rights. |
Equity_Transactions
Equity Transactions | 12 Months Ended | ||||||||||||
Mar. 31, 2014 | |||||||||||||
Accounting Policies [Abstract] | ' | ||||||||||||
Equity Transactions | ' | ||||||||||||
The Company has 37,503,000,000 common shares authorized with a par value of $ 0.001 per share. | |||||||||||||
The Company has 10,000,000 preferred shares authorized with a par value of $ 0.001 per share. | |||||||||||||
At inception, the Company issued 1,093,837,500 shares of common stock for total cash proceeds of $52,500. | |||||||||||||
On July 18, 2013, the Company designated, from the 10,000,000 authorized shares of preferred stock, 6,000,000 shares of Series “A” Preferred Stock. The Series “A” Preferred Stock has voting rights of 100 votes per share and votes with common shares as a single class. | |||||||||||||
On July 18, 2013, the Company granted 6,000,000 Series “A” Preferred shares and 82,767,038 common shares for the intellectual property The common and preferred shares were valued at a total of $123,973. | |||||||||||||
On July 19, 2013, our new officer/director agreed to cancel 500,255,434 common shares and returned them to treasury. Certain other shareholders also agreed to cancel 262,521,000 common shares. | |||||||||||||
On September 5, 2013, the Company increased the authorized common shares from 90,000,000 to 37,503,000,000. Correspondingly, the Company affirmed a forward split of 416.7 for 1 in which each shareholder was issued 416.7 common shares for each share held. All share and per share date included in these financial statements has been retrospectively adjusted to account for the stock split. | |||||||||||||
On October 29, 2013, the Company granted 250,000 units at $0.30 per unit. Each unit consisted of 1 share of common stock and one common stock warrant with an exercise price of $0.50 and a one year term. The value of the warrants was derived by using the Black-Scholes valuation model. A summary of the valuation inputs can is below. | |||||||||||||
On December 11, 2013, the Company granted 250,000 units at $0.30 per unit. Each unit consisted of 1 share of common stock and one common stock warrant with an exercise price of $0.50 and a one year term. The value of the warrants was derived by using the Black-Scholes valuation model. A summary of the valuation inputs can is below. | |||||||||||||
On March 10, 2014, the Company issued 83,334 units at $0.30 per unit. Each unit consisted of 1 share of common stock and one common stock warrant with an exercise price of $0.50 and a one year term. The value of the warrants was derived by using the Black-Scholes valuation model. A summary of the valuation inputs can is below. | |||||||||||||
The following is a summary of the inputs used to determine the value of the warrants using the Black-Scholes option pricing model. | |||||||||||||
Date | 29-Oct-13 | 11-Dec-13 | 10-Mar-14 | ||||||||||
Warrants | 250,000 | 250,000 | 83,334 | ||||||||||
Stock price on grant date | $ | 0.3 | $ | 0.02 | $ | 0.02 | |||||||
Exercise price | $ | 0.5 | $ | 0.5 | $ | 0.5 | |||||||
Expected life | 1 year | 1 year | 1 year | ||||||||||
Volatility | 147 | % | 64 | % | 65 | % | |||||||
Risk-free rate | 0.12 | % | 0.11 | % | 0.13 | % | |||||||
Calculated value | $ | 10,473 | $ | 0 | $ | 0 | |||||||
Fair value allocation of proceeds | $ | 7,381 | $ | 0 | $ | 0 | |||||||
The following is a summary of the warrant activity for the year ended March 31, 2014: | |||||||||||||
Number of warrants | Weighted average exercise price | ||||||||||||
Outstanding, April 1, 2013 | 0 | $ | 0 | ||||||||||
Granted | 583,334 | $ | 0.5 | ||||||||||
Exercised | — | — | |||||||||||
Expired | — | — | |||||||||||
Outstanding, March 31, 2014 | 583,334 | $ | 0.5 | ||||||||||
During the year ended March 31, 2014, the Company granted 47,503,280 stock options to officers, directors, employees and consultants. | |||||||||||||
The Company accounts for employee stock-based compensation in accordance with the guidance of ASC Topic 718: Compensation - Stock Compensation, which requires all share-based payments to employees, including grants of employee stock options, to be recognized in the financial statements based on their fair values. | |||||||||||||
The Company follows ASC Topic 505-50, formerly EITF 96-18, “Accounting for Equity Instruments that are Issued to Other than Employees for Acquiring, or in Conjunction with Selling Goods and Services,” for stock options and warrants issued to consultants and other non-employees. In accordance with ASC Topic 505-50, these stock options issued as compensation for services provided to the Company are accounted for based upon the fair value of the services provided or the estimated fair market value of the option, whichever can be more clearly determined. | |||||||||||||
The following is a summary of the inputs used to determine the value of the options using the Black-Scholes option pricing model. | |||||||||||||
Date | 6-Sep-13 | 7-Feb-14 | 14-Mar-14 | ||||||||||
Options | 41,003,280 | 1,500,000 | 5,000,000 | ||||||||||
Stock price on grant date | $ | 0.02 | $ | 0.02 | $ | 0.3 | |||||||
Exercise price | $ | 0.0191984 | $ | 0.0191984 | $ | 0.3 | |||||||
Expected life | 10 | 10 | 10 | ||||||||||
Volatility | 76 | % | 74 | % | 74 | % | |||||||
Risk-free rate | 2.94 | % | 2.71 | % | 2.65 | % | |||||||
Calculated value | $ | 663,307 | $ | 23,825 | $ | 1,182,141 | |||||||
The following is a summary of the option activity for the year ended March 31, 2014: | |||||||||||||
Number of options | Weighted average exercise price | ||||||||||||
Outstanding, April 1, 2013 | 0 | $ | 0 | ||||||||||
Granted | 47,503,280 | $ | 0.05 | ||||||||||
Exercised | — | — | |||||||||||
Expired | — | — | |||||||||||
Outstanding, March 31, 2014 | 47,503,280 | $ | 0.05 |
Income_Taxes
Income Taxes | 12 Months Ended | ||||||||
Mar. 31, 2014 | |||||||||
Income Tax Disclosure [Abstract] | ' | ||||||||
Income Taxes | ' | ||||||||
As of March 31, 2014, the Company had net operating loss carry forwards of approximately $3,086,867 that may be available to reduce future years’ taxable income in varying amounts through 2033. Future tax benefits which may arise as a result of these losses have not been recognized in these financial statements, as their realization is determined not likely to occur and accordingly, the Company has recorded a valuation allowance for the deferred tax asset relating to these tax loss carry-forwards. | |||||||||
The provision for Federal income tax consists of the following for the years ended March 31, 2014 and 2013: | |||||||||
2014 | 2013 | ||||||||
Federal income tax benefit attributable to: | |||||||||
Current operations | $ | 1,021,679 | $ | 10,659 | |||||
Less: valuation allowance | (1,021,679 | ) | (10,659 | ) | |||||
Net provision for Federal income taxes | $ | 0 | $ | 0 | |||||
The cumulative tax effect at the expected rate of 34% of significant items comprising our net deferred tax amount is as follows as of March 31, 2014 and 2013: | |||||||||
2014 | 2013 | ||||||||
Deferred tax asset attributable to: | |||||||||
Net operating loss carryover | $ | 1,049,535 | $ | 27,856 | |||||
Less: valuation allowance | (1,049,535 | ) | (27,856 | ) | |||||
Net deferred tax asset | $ | 0 | $ | 0 | |||||
Due to the change in ownership provisions of the Tax Reform Act of 1986, net operating loss carry forwards of approximately $3,086,867 for Federal income tax reporting purposes are subject to annual limitations. Should a change in ownership occur net operating loss carry forwards may be limited as to use in future years. |
Liquidity_and_Going_Concern
Liquidity and Going Concern | 12 Months Ended |
Mar. 31, 2014 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' |
Liquidity and Going Concern | ' |
The Company has a working capital deficit, has not yet received revenues from sales of products or services, and has incurred losses since inception. These factors create substantial doubt about the Company’s ability to continue as a going concern. The financial statements do not include any adjustment that might be necessary if the Company is unable to continue as a going concern. | |
The ability of the Company to continue as a going concern is dependent on the Company generating cash from the sale of its common stock and/or obtaining debt financing and attaining future profitable operations. Management’s plans include selling its equity securities and obtaining debt financing to fund its capital requirement and ongoing operations; however, there can be no assurance the Company will be successful in these efforts. |
Subsequent_Events
Subsequent Events | 12 Months Ended |
Mar. 31, 2014 | |
Accounting Policies [Abstract] | ' |
Subsequent Events | ' |
The Company amended a consulting agreement on May 7, 2014, to grant 2,500,000 shares to a consultant for work performed through March 31, 2014. The shares were valued on the grant date at $300,000 and that amount has been accrued as of March 31, 2014. | |
The Company signed subscription agreements with four investors on June 16, 2014 to grant 1,469,000 shares of common stock in exchange for the stock deposits totaling $147,050. | |
On April 18, 2014, the Company issued a convertible note payable in the amount of $53,000. The note bears 8% interest and is due on January 14, 2015. The loan becomes convertible 180 days after the date of the note. The loan and any accrued interest can then be converted into shares of the Company’s common stock at a rate of 58% multiplied by the market price, which is the average of the lowest three (3) trading prices for the common stock during the ten (10) trading day period ending on the latest complete trading day prior to the conversion date. | |
On May 21, 2014, the Company issued a convertible note payable in the amount of $42,500. The note bears 8% interest and is due on February 23, 2015. The loan becomes convertible 180 days after the date of the note. The loan and any accrued interest can then be converted into shares of the Company’s common stock at a rate of 58% multiplied by the market price, which is the average of the lowest three (3) trading prices for the common stock during the ten (10) trading day period ending on the latest complete trading day prior to the conversion date. | |
On July 1, 2014, the Company issued 1,000,000 shares to its outside legal counsel for payment against past and future invoices for services provided. | |
In accordance with ASC 855-10, the Company has analyzed its operations subsequent to March 31, 2014 to the date these financial statements were issued, and has determined that it does not have any material subsequent events to disclose in these financial statements other than the events described above. |
Summary_of_Significant_Account1
Summary of Significant Accounting Policies (Policies) | 12 Months Ended | ||||
Mar. 31, 2014 | |||||
Accounting Policies [Abstract] | ' | ||||
Nature of Business | ' | ||||
On August 9, 2010 the Company was incorporated as Nepia Inc. in the State of Nevada. From August 9, 2010 to July 18, 2013, the Company was in the business of developing, manufacturing, and selling small boilers aimed at farmers primarily in Southeast Asia. Beginning on July 19, 2013, the Company acquired bio-pharmaceutical intellectual property for the treatment of acute myeloid leukemia (AML) and is entering into phase II human studies. The goal is to perfect this indication for marketing purposes for distribution world-wide. On August 26, 2013, as a consequence of our new business direction, the Company changed its name to Rich Pharmaceuticals, Inc. (“Rich” or “the Company”). | |||||
On July 18, 2013, the Company designated, from our 10,000,000 authorized shares of preferred stock, par value $0.001, 6,000,000 shares of Series “A” Preferred Stock. Our Series “A” Preferred Stock has voting rights of 100 votes per share and votes with common shares as a single class. | |||||
On July 18, 2013, the Company entered into an Asset Assignment Agreement (the “Assignment Agreement”) with Imagic, LLC and its principals to acquire certain assets including a US Patent entitled “Phorbol esters as anti-neoplastic and white blood cell elevating agents” and all related intellectual property associated with the patent. In consideration for the intellectual property the Company issued 82,767,038 common shares, and 6,000,000 Series “A” Preferred shares. The common and preferred shares were valued at $123,973. The Company further agreed to use its best efforts to complete a financing resulting in proceeds of at least $2,000,000. If the Company was unable to raise $400,000 according to the terms of the Assignment Agreement, the patent reverts back to Imagic, LLC and its principals. On January 17, 2014, the right of reversion was terminated in exchange for a payment of $20,000. | |||||
On July 19, 2013, the Company entered into an Agreement of Conveyance, Transfer and Assignment of Assets and Assumption of Obligations (the “Sale Agreement”) with our prior officers and directors. Pursuant to the Sale Agreement, the Company transferred all assets and business operations associated with our boiler business in exchange for assumption of all obligations associated with that business and cancellation of loans amounting to $28,818. The cancellation of debt was recorded as additional paid-in capital. In consequence to the Sale Agreement two former officers sold 531,292,500 common shares held by them to our new officer/director. In turn, our new officer/director agreed to cancel 500,255,434 of those shares he received and returned them to treasury for retirement. Certain other shareholders also agreed to cancel 262,521,000 common shares. | |||||
On September 5, 2013, the Company increased the authorized common shares, par value $0.001, from 90,000,000 shares to 37,503,000,000 shares. Correspondingly, the Company affirmed a forward split of 416.7 for 1 in which each shareholder was issued 416.7 common shares for each share held. All share and per share date included in these financial statements has been retrospectively adjusted to account for the stock split. | |||||
Development Stage Company | ' | ||||
The accompanying financial statements have been prepared in accordance with generally accepted accounting principles related to development-stage companies. A development-stage company is one in which planned principal operations have not commenced or if its operations have commenced, and there has been no significant revenues there from. | |||||
Basis of Presentation | ' | ||||
The financial statements of the Company have been prepared using the accrual basis of accounting in accordance with generally accepted accounting principles in the United States of America and are presented in U.S. dollars. The Company has adopted a March 31 fiscal year end. | |||||
Cash and Cash Equivalents | ' | ||||
The Company considers all highly liquid investments with maturities of three months or less to be cash equivalents. At March 31, 2014 and 2013 the Company had $12,387 and $1,588, respectively, of unrestricted cash. | |||||
Property and Equipment | ' | ||||
Property and equipment is recorded at cost and is depreciated using the straight-line method over the estimated useful lives of the related assets. The useful lives of the assets are as follows: | |||||
Computer equipment | 3 years | ||||
Long-Lived and Intangible Assets | ' | ||||
On July 18, 2013, the Company entered into an Asset Assignment Agreement (the “Assignment Agreement”) with Imagic, LLC and its principals to acquire certain assets including a US Patent entitled “Phorbol esters as anti-neoplastic and white blood cell elevating agents” and all related intellectual property associated with the patent. In consideration for the intellectual property the Company issued 82,767,038 common shares and 6,000,000 Series “A” Preferred Stock. These shares were valued at a total of $123,973. The Company has also paid additional funds to third parties to further the development of this asset and terminate the right of reversion totaling $45,000. The Company analyzed the assets at March 31, 2014 and determined that the value could not be supported and impaired the assets to $0. | |||||
Fair Value of Financial Instruments | ' | ||||
The Company’s financial instruments consist of cash and cash equivalents, prepaid expenses, accounts payable, accrued expenses, amounts due to related parties, stock deposits, and a convertible note payable. The carrying amount of these financial instruments approximates fair value due either to length of maturity or interest rates that approximate prevailing market rates unless otherwise disclosed in these financial statements. | |||||
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. | |||||
Income Taxes | ' | ||||
Income taxes are computed using the asset and liability method. Under the asset and liability method, deferred income tax assets and liabilities are determined based on the differences between the financial reporting and tax bases of assets and liabilities and are measured using the currently enacted tax rates and laws. A valuation allowance is provided for the amount of deferred tax assets that, based on available evidence, are not expected to be realized. | |||||
Stock-Based Compensation | ' | ||||
Stock-based compensation is accounted for at fair value in accordance with ASC Topic 718. On September 6, 2013, the Company approved the adoption of Rich Pharmaceuticals, Inc. 2013 Stock Option/Stock Issuance Plan (the "2013 Plan”). The 2013 Plan is intended to aid in recruiting and retaining key employees, directors or consultants and to motivate them by providing incentives through the granting of awards of stock options or other stock based awards. The 2013 Plan is administered by the board of directors. Directors, officers, employees and consultants and our affiliates are eligible to participate under the 2013 Plan. A total of 60,000,000 common shares have been reserved for awards under the 2013 Plan. During the year ended March 31, 2014, the Company granted 47,503,280 stock options to officers, directors, employees and consultants. | |||||
Basic loss per share | ' | ||||
The basic earnings (loss) per share is calculated by dividing the Company’s net income available to common shareholders by the weighted average number of common shares during the year. The diluted earnings (loss) per share is calculated by dividing the Company’s net income (loss) available to common shareholders by the diluted weighted average number of shares outstanding during the year. The diluted weighted average number of shares outstanding is the basic weighted number of shares adjusted as of the first of the year for any potentially dilutive debt or equity. | |||||
Revenue Recognition | ' | ||||
The Company will recognize revenue when products are fully delivered or services have been provided and collection is reasonably assured. | |||||
Recent Accounting Pronouncements | ' | ||||
The Company does not expect the adoption of recently issued accounting pronouncements to have a significant impact on the Company’s results of operations, financial position or cash flow. |
Summary_of_Significant_Account2
Summary of Significant Accounting Policies (Tables) | 12 Months Ended | ||||
Mar. 31, 2014 | |||||
Accounting Policies [Abstract] | ' | ||||
Schedule of Useful Lives | ' | ||||
Computer equipment | 3 years |
Property_and_equipment_Tables
Property and equipment (Tables) | 12 Months Ended | ||||||||
Mar. 31, 2014 | |||||||||
Property, Plant and Equipment [Abstract] | ' | ||||||||
Schedule of Property and Equipment | ' | ||||||||
2014 | 2013 | ||||||||
Computer equipment | $ | 1,419 | $ | — | |||||
Less: accumulated depreciation | (158 | ) | — | ||||||
Property and equipment, net | $ | 1,261 | $ | — |
Accrued_Expenses_Tables
Accrued Expenses (Tables) | 12 Months Ended | ||||||||
Mar. 31, 2014 | |||||||||
Payables and Accruals [Abstract] | ' | ||||||||
Schedule of Accrued Expenses | ' | ||||||||
2014 | 2013 | ||||||||
Wages and taxes | 151,290 | 0 | |||||||
Consulting | 300,000 | 0 | |||||||
Total accrued expenses | $ | 451,290 | $ | 0 |
Equity_Transactions_Tables
Equity Transactions (Tables) | 12 Months Ended | ||||||||||||
Mar. 31, 2014 | |||||||||||||
Accounting Policies [Abstract] | ' | ||||||||||||
Schedule of Value of Warrants | ' | ||||||||||||
Date | 29-Oct-13 | 11-Dec-13 | 10-Mar-14 | ||||||||||
Warrants | 250,000 | 250,000 | 83,334 | ||||||||||
Stock price on grant date | $ | 0.3 | $ | 0.02 | $ | 0.02 | |||||||
Exercise price | $ | 0.5 | $ | 0.5 | $ | 0.5 | |||||||
Expected life | 1 year | 1 year | 1 year | ||||||||||
Volatility | 147 | % | 64 | % | 65 | % | |||||||
Risk-free rate | 0.12 | % | 0.11 | % | 0.13 | % | |||||||
Calculated value | $ | 10,473 | $ | 0 | $ | 0 | |||||||
Fair value allocation of proceeds | $ | 7,381 | $ | 0 | $ | 0 | |||||||
Schedule of Value of Options | ' | ||||||||||||
Date | 6-Sep-13 | 7-Feb-14 | 14-Mar-14 | ||||||||||
Options | 41,003,280 | 1,500,000 | 5,000,000 | ||||||||||
Stock price on grant date | $ | 0.02 | $ | 0.02 | $ | 0.3 | |||||||
Exercise price | $ | 0.0191984 | $ | 0.0191984 | $ | 0.3 | |||||||
Expected life | 10 | 10 | 10 | ||||||||||
Volatility | 76 | % | 74 | % | 74 | % | |||||||
Risk-free rate | 2.94 | % | 2.71 | % | 2.65 | % | |||||||
Calculated value | $ | 663,307 | $ | 23,825 | $ | 1,182,141 | |||||||
Schedule of Option Activity | ' | ||||||||||||
Number of options | Weighted average exercise price | ||||||||||||
Outstanding, April 1, 2013 | 0 | $ | 0 | ||||||||||
Granted | 47,503,280 | $ | 0.05 | ||||||||||
Exercised | — | — | |||||||||||
Expired | — | — | |||||||||||
Outstanding, March 31, 2014 | 47,503,280 | $ | 0.05 |
Income_Taxes_Tables
Income Taxes (Tables) | 12 Months Ended | ||||||||
Mar. 31, 2014 | |||||||||
Income Tax Disclosure [Abstract] | ' | ||||||||
Schedule of Federal Income Tax | ' | ||||||||
2014 | 2013 | ||||||||
Federal income tax benefit attributable to: | |||||||||
Current operations | $ | 1,021,679 | $ | 10,659 | |||||
Less: valuation allowance | (1,021,679 | ) | (10,659 | ) | |||||
Net provision for Federal income taxes | $ | 0 | $ | 0 | |||||
Schedule of Deferred Tax Asset | ' | ||||||||
2014 | 2013 | ||||||||
Deferred tax asset attributable to: | |||||||||
Net operating loss carryover | $ | 1,049,535 | $ | 27,856 | |||||
Less: valuation allowance | (1,049,535 | ) | (27,856 | ) | |||||
Net deferred tax asset | $ | 0 | $ | 0 |
Summary_of_Significant_Account3
Summary of Significant Accounting Policies - Schedule of Property and Equipment (Details) | 12 Months Ended |
Mar. 31, 2014 | |
Accounting Policies [Abstract] | ' |
Computer equipment | '3 years |
Summary_of_Significant_Account4
Summary of Significant Accounting Policies (Details Narrative) (USD $) | 12 Months Ended | |||||
Mar. 31, 2014 | Dec. 31, 2013 | Sep. 06, 2013 | Sep. 05, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | |
Date Of Incorporation | 9-Aug-10 | ' | ' | ' | ' | ' |
Date of Agreement | '2014-03-20 | ' | ' | ' | ' | ' |
Common Stock, Shares Authorized | 37,503,000,000 | 37,503,000,000 | 37,503,000,000 | 90,000,000 | 37,503,000,000 | 37,503,000,000 |
Common Stock, Par Value | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
Stock split ratio | 416.71 | ' | ' | ' | ' | ' |
Cash and cash equivalent | $12,387 | ' | ' | ' | ' | $1,588 |
Intangible assets | 0 | ' | ' | ' | ' | ' |
Reserved common shares | 60,000,000 | ' | ' | ' | ' | ' |
Stock options granted | 47,503,280 | ' | ' | ' | ' | ' |
Sale Agmt | ' | ' | ' | ' | ' | ' |
Date of Agreement | '2013-07-19 | ' | ' | ' | ' | ' |
Additional cash required | 2,000,000 | ' | ' | ' | ' | ' |
Cancellation of loans | 28,818 | ' | ' | ' | ' | ' |
Shares sold by former officers | 531,292,500 | ' | ' | ' | ' | ' |
Shares returned to treasury | 500,255,434 | ' | ' | ' | ' | ' |
Shares agreed to cancel | 262,521,000 | ' | ' | ' | ' | ' |
Asset Assign Agmt | ' | ' | ' | ' | ' | ' |
Date of Agreement | '2013-07-18 | ' | ' | ' | ' | ' |
Common Stock, shares issued | 82,767,038 | ' | ' | ' | ' | ' |
Series A Preferred Stock, shares issued | 6,000,000 | ' | ' | ' | ' | ' |
Series A Preferred Stock, value | 123,973 | ' | ' | ' | ' | ' |
Termination of agreement | $20,000 | ' | ' | ' | ' | ' |
Property_and_equipment_Schedul
Property and equipment - Schedule of Property and Equipment (Details) (USD $) | Mar. 31, 2014 | Mar. 31, 2013 |
Property, Plant and Equipment [Abstract] | ' | ' |
Computer equipment | $1,419 | ' |
Less: accumulated depreciation | -158 | ' |
Property and equipment, net | $1,261 | ' |
Intangible_Assets_Details_Narr
Intangible Assets (Details Narrative) (USD $) | 12 Months Ended |
Mar. 31, 2014 | |
Date of Agreement | '2014-03-20 |
Assignment Agreement | ' |
Date of Agreement | '2014-05-07 |
Common Stock, shares issued | 82,767,038 |
Series A Preferred Stock, shares issued | 6,000,000 |
Common stock, value | 123,973 |
Series A Preferred Stock, value | 45,000 |
Impaired the Assets | 0 |
Accrued_Expenses_Schedule_of_A
Accrued Expenses - Schedule of Accrued Expenses (Details) (USD $) | Jul. 11, 2014 | Mar. 31, 2014 | Mar. 31, 2013 |
Payables and Accruals [Abstract] | ' | ' | ' |
Wages and taxes | $151,290 | ' | $0 |
Consulting | 300,000 | ' | 0 |
Total accrued expenses | $451,290 | $451,290 | $0 |
Accrued_Expenses_Details_Narra
Accrued Expenses (Details Narrative) (USD $) | 12 Months Ended |
Mar. 31, 2014 | |
Agreement date | '2014-03-20 |
Assignment Agreement | ' |
Agreement date | '2014-05-07 |
Shares issued to consultant | 2,500,000 |
Share issued, value | 300,000 |
Related_Party_Debt_and_Transac1
Related Party Debt and Transactions (Details Narrative) (USD $) | 3 Months Ended | 12 Months Ended | ||
Jun. 30, 2013 | Mar. 31, 2013 | Mar. 31, 2014 | Mar. 31, 2013 | |
Date of Agreement | ' | ' | '2014-03-20 | ' |
Loan from related party | $45,000 | $16,818 | ' | $7,500 |
Due to related parties | ' | 24,318 | 36,000 | 24,318 |
Sale Agmt | ' | ' | ' | ' |
Date of Agreement | ' | ' | '2013-07-19 | ' |
Cancellation of loans | ' | ' | 28,818 | ' |
Employment Agmt | ' | ' | ' | ' |
Term of Agreement | ' | ' | '2 years | ' |
Annual Compensation | ' | ' | 275,000 | ' |
Options to purchase | ' | ' | 3,000,240 | ' |
Options to purchase, exercise price | ' | ' | $0.02 | ' |
Bonus | ' | ' | 68,750 | ' |
Earnings | ' | ' | $229,167 | ' |
Stock_Deposits_Details_Narrati
Stock Deposits (Details Narrative) (USD $) | 12 Months Ended | 44 Months Ended | |
Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2014 | |
Notes to Financial Statements | ' | ' | ' |
Proceeds from stock deposits | $147,050 | $0 | $147,050 |
Stokc issued in exchange for deposits | 1,469,000 | ' | ' |
Convertible_Note_Payable_Detai
Convertible Note Payable (Details Narrative) (USD $) | 12 Months Ended | |
Mar. 31, 2014 | Mar. 31, 2013 | |
Debt Disclosure [Abstract] | ' | ' |
Date of Agreement | '2014-03-20 | ' |
Convertible Note | $37,500 | $0 |
Interest Rate | 8.00% | ' |
Conversion Date | 30-Sep-14 | ' |
Conversion rate of common stock | 58.00% | ' |
Commitments_and_Contingencies_
Commitments and Contingencies (Details Narrative) (USD $) | Jul. 11, 2014 |
Accounting Policies [Abstract] | ' |
Monthly Rent | $2,500 |
Equity_Transactions_Schedule_o
Equity Transactions - Schedule of Value of Warrants (Details) (USD $) | 0 Months Ended | 1 Months Ended | |
Mar. 10, 2014 | Dec. 11, 2013 | Oct. 29, 2013 | |
Accounting Policies [Abstract] | ' | ' | ' |
Date | 10-Mar-14 | 11-Dec-13 | 29-Oct-13 |
Warrants | $83,334 | $250,000 | $250,000 |
Stock price on grant date | $0.02 | $0.02 | $0.30 |
Exercise price | $0.50 | $0.50 | $0.50 |
Expected life | '1 year | '1 year | '1 year |
Volatility | 65.00% | 64.00% | 147.00% |
Risk-free rate | 0.13% | 0.11% | 0.12% |
Calculated value | 0 | 0 | 10,473 |
Fair value allocation of proceeds | $0 | $0 | $7,381 |
Equity_Transactions_Schedule_o1
Equity Transactions - Schedule of Warrant Activity (Details) (USD $) | 12 Months Ended |
Mar. 31, 2014 | |
Accounting Policies [Abstract] | ' |
Beginning Balance, Issued Warrants | 0 |
Beginning Balance, Average Exercise Price | $0 |
Issued, Warrants | 583,334 |
Issued, Average Exercise Price | $0.50 |
Exercised, Warrants | ' |
Exercised, Average Exercise Price | ' |
Expired Warrants | ' |
Expired Average Exercise Price | ' |
Ending Balance, Issued Warrants | 583,334 |
Ending Balance, Average Exercise Price | $0.50 |
Equity_Transactions_Schedule_o2
Equity Transactions - Schedule of Value of Options (Details) (USD $) | 0 Months Ended | 1 Months Ended | 0 Months Ended | |||
Mar. 10, 2014 | Dec. 11, 2013 | Oct. 29, 2013 | Mar. 14, 2014 | Feb. 07, 2014 | Sep. 06, 2013 | |
Stock Option 1 | Stock Option 1 | Stock Option 1 | ||||
Date | ' | ' | ' | 14-Mar-14 | 7-Feb-14 | 6-Sep-13 |
Options | ' | ' | ' | 5,000,000 | 1,500,000 | 41,003,280 |
Stock price on grant date | $0.02 | $0.02 | $0.30 | $0.30 | $0.02 | $0.02 |
Exercise price | $0.50 | $0.50 | $0.50 | $0.30 | $0.02 | $0.02 |
Expected life | '1 year | '1 year | '1 year | '10 years | '10 years | '10 years |
Volatility | 65.00% | 64.00% | 147.00% | 74.00% | 74.00% | 76.00% |
Risk-free rate | 0.13% | 0.11% | 0.12% | 2.65% | 2.71% | 2.94% |
Calculated value | ' | ' | ' | $1,182,141 | $23,825 | $663,307 |
Equity_Transactions_Schedule_o3
Equity Transactions - Schedule of Option Activity (Details) | 12 Months Ended |
Mar. 31, 2014 | |
Accounting Policies [Abstract] | ' |
Beginning Balance, number of shares | 0 |
Beginning Balance, weighted average exercise price | 0 |
Options granted, number of shares | 47,503,280 |
Options granted, weighted average exercise price | 0.05 |
Options exercised, number of shares | ' |
Options exercised, weighted average exercise price | ' |
Options expired, number of shares | ' |
Options expired, weighted average exercise price | ' |
Ending Balance, number of shares | 47,503,280 |
Ending Balance, weighted average exercise price | 0.05 |
Equity_Transactions_Details_Na
Equity Transactions (Details Narrative) (USD $) | 12 Months Ended | 44 Months Ended | |||||||||
Mar. 31, 2014 | Mar. 31, 2014 | Mar. 10, 2014 | Dec. 31, 2013 | Dec. 11, 2013 | Oct. 29, 2013 | Sep. 06, 2013 | Sep. 05, 2013 | Jul. 18, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | |
Common Stock, Shares Authorized | 37,503,000,000 | 37,503,000,000 | ' | 37,503,000,000 | ' | ' | 37,503,000,000 | 90,000,000 | ' | 37,503,000,000 | 37,503,000,000 |
Common Stock, Par Value | $0.00 | $0.00 | ' | $0.00 | ' | ' | $0.00 | $0.00 | ' | $0.00 | $0.00 |
Preferred Stock, Shares Authorized | 10,000,000 | 10,000,000 | ' | 10,000,000 | ' | ' | ' | ' | ' | 10,000,000 | 10,000,000 |
Preferred Stock, Par Value | $0.00 | $0.00 | ' | $0.00 | ' | ' | ' | ' | ' | $0.00 | $0.00 |
Designation of Preferred Stock | ' | ' | ' | ' | ' | ' | ' | ' | 6,000,000 | ' | ' |
Issuance of common stock for cash, shares | ' | 1,093,837,500 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance of common stock for cash, amount | ' | $52,500 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common Stock, Issued | 414,411,438 | 414,411,438 | 83,334 | 413,828,104 | 250,000 | 250,000 | ' | 993,108 | ' | 1,093,837,500 | 1,093,837,500 |
Preferred Stock, Issued | 6,000,000 | 6,000,000 | ' | 6,000,000 | ' | ' | ' | ' | ' | 0 | 0 |
Date of Agreement | '2014-03-20 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock split ratio | 416.71 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common Stock, post split | ' | ' | ' | ' | ' | ' | 60,000,000 | ' | ' | ' | ' |
Common Stock, options | ' | ' | ' | ' | ' | ' | 41,000,000 | ' | ' | ' | ' |
Common Stock, exercise price | ' | ' | $0.30 | ' | $0.30 | $0.30 | $0.02 | ' | ' | ' | ' |
Issuance of warrants, shares | ' | ' | 833,334 | ' | 250,000 | 250,000 | ' | ' | ' | ' | ' |
Issuance of warrants, per share | ' | ' | $0.50 | ' | $0.50 | $0.50 | ' | ' | ' | ' | ' |
Options granted, number of shares | 47,503,280 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Sale Agmt | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shares agreed to cancel | 262,521,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shares returned to treasury | 500,255,434 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Date of Agreement | '2013-07-19 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Asset Assign Agmt | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Date of Agreement | '2013-07-18 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common Stock, shares issued | 82,767,038 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Series A Preferred Stock, shares issued | 6,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Series A Preferred Stock, value | $123,973 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Income_Taxes_Schedule_of_Feder
Income Taxes - Schedule of Federal Income Tax (Details) (USD $) | 12 Months Ended | |
Mar. 31, 2014 | Mar. 31, 2013 | |
Income Tax Disclosure [Abstract] | ' | ' |
Current operations | $1,021,679 | $10,659 |
Less: valuation allowance | -1,021,679 | -10,659 |
Net provision for Federal income taxes | $0 | $0 |
Income_Taxes_Schedule_of_Defer
Income Taxes - Schedule of Deferred Tax Asset (Details) (USD $) | Mar. 31, 2014 | Mar. 31, 2013 |
Deferred tax asset attributable to: | ' | ' |
Net operating loss carryover | $1,049,535 | $27,856 |
Less: valuation allowance | -1,049,535 | -27,856 |
Net deferred tax asset | $0 | $0 |
Income_Taxes_Details_Narrative
Income Taxes (Details Narrative) (USD $) | 12 Months Ended |
Mar. 31, 2014 | |
Income Tax Disclosure [Abstract] | ' |
Net Operating Loss Carry-Forwards | $3,086,867 |
Operating Loss Carry-Forwards Expiration Date | 1-Jan-33 |
Effective Tax Rate | 34.00% |
Subsequent_Events_Details_Narr
Subsequent Events (Details Narrative) (USD $) | 12 Months Ended | 1 Months Ended | ||||||
Mar. 31, 2014 | Jul. 01, 2014 | Jun. 16, 2014 | 7-May-14 | Mar. 31, 2013 | Aug. 08, 2010 | 21-May-14 | Apr. 18, 2014 | |
Convertible Note | Convertible Note | |||||||
Shares issued | ' | 1,000,000 | 1,469,000 | 2,500,000 | ' | ' | ' | ' |
Shares, value | ' | ' | ' | $300,000 | ' | ' | ' | ' |
Stock deposits | 147,050 | ' | 147,050 | ' | 0 | ' | ' | ' |
Date of Agreement | '2014-03-20 | ' | ' | ' | ' | ' | '2014-05-21 | '2014-04-18 |
Convertible Note | $37,500 | ' | ' | ' | $0 | ' | $42,500 | $53,000 |
Interest Rate | 8.00% | ' | ' | ' | ' | ' | 8.00% | 8.00% |
Conversion Date | 30-Sep-14 | ' | ' | ' | ' | ' | 21-Nov-14 | 18-Oct-14 |
Conversion rate of common stock | 58.00% | ' | ' | ' | ' | ' | 58.00% | 58.00% |
Due date | ' | ' | ' | ' | ' | ' | 23-Feb-15 | 14-Jan-15 |