Mountain High Acquisitions (MYHI) 10-Q 13 Aug 19 2020 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Jun. 30, 2019	Aug. 13, 2019
Document And Entity Information
Entity Registrant Name	Mountain High Acquisitions Corp.
Entity Central Index Key	0001507181
Document Type	10-Q
Document Period End Date	Jun. 30, 2019
Entity Incorporation, State or Country Code	CO
Amendment Flag	false
Current Fiscal Year End Date	--03-31
Entity File Number	333-175825
Is Entity's Reporting Status Current?	Yes
Entity Interactive Data Current	Yes
Is Entity Emerging Growth Company?	true
Elected Not To Use the Extended Transition Period	false
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Common Stock, Shares Outstanding		211,344,521
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2020

CONSOLIDATED BALANCE SHEETS (Un

CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)	Jun. 30, 2019	Mar. 31, 2019
CURRENT ASSETS
Cash and cash equivalents	$ 78,633	$ 767
Accounts receivable
Notes receivable - current	44,150	43,386
Other receivables
TOTAL CURRENT ASSETS	122,783	44,153
OTHER ASSETS
Notes receivable - long term	62,032	73,975
TOTAL OTHER ASSETS	62,032	73,975
FIXED ASSETS (NET)	286,145	305,856
TOTAL ASSETS	470,960	423,984
CURRENT LIABILITIES
Accounts payable	4,131	21,544
Accrued liabilities	151,445	151,445
Deposit on sale of equipment	50,000
Convertible notes payable, net Beneficial Conversion Feature fully recognized of $885,574	149,188	98,553
TOTAL CURRENT LIABILITIES	354,764	271,542
STOCKHOLDERS' EQUITY (DEFICIT):
Preferred stock, $0.0001 par value; 250,000,000 shares authorized, 100,000 and 100,000 shares issued and outstanding as of June 30, 2019 and March 31, 2019 respectively	10	10
Common stock, $0.0001 par value; 500,000,000 shares authorized, 208,519,694 and 203,832,914 shares issued and outstanding as of June 30, 2019 and March 31, 2019 respectively	20,852	20,383
Additional paid in capital	15,321,968	15,257,436
Accumulated (deficit)	(15,226,634)	(15,125,387)
TOTAL STOCKHOLDERS' EQUITY (DEFICIT)	116,196	152,442
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)	$ 470,960	$ 423,984

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($)	Jun. 30, 2019	Mar. 31, 2019
Statement of Financial Position [Abstract]
Beneficial Conversion Feature on notes payable, fully recognized	$ 885,574	$ 885,574
Preferred stock, par value	$ 0.0001	$ 0.0001
Preferred stock, authorized	250,000,000	250,000,000
Preferred stock, issued	100,000	100,000
Preferred stock, outstanding	100,000	100,000
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, authorized	500,000,000	500,000,000
Common stock, issued	208,519,694	203,832,914
Common stock, outstanding	208,519,694	203,832,914

CONSOLIDATED STATEMENT OF OPERA

CONSOLIDATED STATEMENT OF OPERATIONS (Unaudited) - USD ($)	3 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Income Statement [Abstract]
Revenue
Cost of revenue
Gross profit
Depreciation	19,711	11,750
Director fees	22,500	45,000
Professional fees	33,643
Selling, general and administrative expenses	11,085	40,927
Warrant expense		597,000
Operating expenses	86,939	694,677
(Loss) from operations	(86,939)	(694,677)
Debt discount expense	(12,500)
Other income (expense)	1,327	649
Interest Expense	(3,135)	(8,294)
Net income (loss)	$ (101,247)	$ (702,322)
Net Income (loss) per share - basic - continuing operations	$ 0	$ (0.01)
Net Income (loss) per share - diluted - continuing operations	$ 0	$ (0.01)
Weighted average shares outstanding - basic and diluted	207,314,117	98,169,616

CONSOLIDATED STATEMENT OF STOCK

CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY (DEFICIT) - USD ($)	Preferred Stock	Common Stock	Additional Paid-in Capital	Accumulated Deficit	Total
Beginning balance, shares at Mar. 31, 2017		72,691,389
Beginning balance, amount at Mar. 31, 2017		$ 7,269	$ 5,925,827	$ (6,338,799)	$ (405,703)
Shares issued for services rendered, shares	100,000	2,570,000
Shares issued for services rendered, amount	$ 10	$ 257	328,917		329,184
Loss on market value of Preferred shares			2,084,300		2,084,300
Note payable conversion, shares		20,947,193
Note payable conversion, amount		$ 2,095	682,190		684,285
Warrants, shares
Warrants, amount			115,100		115,100
Convertible Note Payable Beneficial Conversion Feature			471,500		471,500
Net (loss)				(3,351,723)	(3,351,723)
Ending balance, shares at Mar. 31, 2018	100,000	96,208,582
Ending balance, amount at Mar. 31, 2018	$ 10	$ 9,621	9,607,834	(9,690,522)	(73,057)
Shares issued for services rendered, shares		80,000
Shares issued for services rendered, amount		$ 8	6,072		6,080
Note payable conversion, shares		10,099,332
Note payable conversion, amount		$ 1,010	289,250		290,260
Cashless warrants issued, shares		9,500,000
Cashless warrants issued, amount		$ 950	596,050		597,000
One Lab Co contribution			159,667		159,667
One Lab Co purchase, shares		88,000,000
One Lab Co purchase, amount		$ 8,800	4,596,334		4,605,134
Shares issued to consultant, shares		225,000
Shares issued to consultant, amount		$ 23	10,321		10,344
Shares returned, shares		(280,000)
Shares returned, amount		$ (28)	(8,092)		(8,120)
Net (loss)				(5,434,865)	(5,434,865)
Ending balance, shares at Mar. 31, 2019	100,000	203,832,914
Ending balance, amount at Mar. 31, 2019	$ 10	$ 20,383	15,257,436	(15,125,387)	152,442
Note payable conversion, shares		4,686,780
Note payable conversion, amount		$ 469	64,532		65,001
Warrants, amount
Net (loss)				(101,247)	(101,247)
Ending balance, shares at Jun. 30, 2019	100,000	208,519,694
Ending balance, amount at Jun. 30, 2019	$ 10	$ 20,852	$ 15,321,968	$ (15,226,634)	$ 116,196

CONSOLIDATED STATEMENT OF CASH

CONSOLIDATED STATEMENT OF CASH FLOWS (Unaudited) - USD ($)	3 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
CASH FLOWS FROM OPERATING ACTIVITIES
Net (loss)	$ (101,247)	$ (702,322)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	19,711	11,750
Original issue discount	12,500
Warrants expense		597,000
Changes in operating assets and liabilities
Increase/(decrease) in accounts payable	(17,412)
(Increase)/decrease in accounts receivable		36,647
Change in other receivables	11,179
Increase/(decrease) in accrued liabilities
Interest expense	3,135
Net cash provided (used) by operating activities	(72,134)	(56,925)
CASH FLOWS FROM INVESTING ACTIVITIES
Fixed Assets		(35,000)
Deposit on sale of equipment	50,000
Net cash provided by investing activities	50,000	(35,000)
CASH FLOWS FROM FINANCING ACTIVITIES
Accounts receivable converted to note receivable
Note conversions		(10,262)
Proceeds from shares for services		6,080
Proceeds from borrowings	100,000	18,758
Net cash (used) provided by financing activities	100,000	14,576
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	77,866	(77,349)
CASH AND CASH EQUIVALENTS, Beginning of the period	767	109,464
CASH AND CASH EQUIVALENTS, End of the period	78,633	32,115
Supplemental disclosures of cash flow information
Taxes paid
Interest paid

Organization and Basis of Prese

Organization and Basis of Presentation	3 Months Ended
	Jun. 30, 2019
Accounting Policies [Abstract]
Organization and Basis of Presentation	Note 1 - Organization and Basis of Presentation Organization and Line of Business The Company is in the business of providing infrastructure assets to licensed producers, processors and retailers engaged in the cannabis industry. The Company plans to acquire further assets such as equipment, real estate and technologies beyond those described below through the use of cash flow generated by operations. In May 2017, the Company formed MYHI-AZ to acquire equipment to service the growing cannabis industry. In September 2017, the Company entered into a consulting agreement with D9 Manufacturing, "D9," to provide D9 customers with infrastructure equipment. Also in September 2017, MYHI-AZ purchased 2 intermodal grow containers from D9 to be used in a grow operation in Arizona. MYHI-AZ leased the grow containers to D9 for 3 years with the right to extend the lease for an additional 2 years. The lease began August 15, 2017. The lease provided for a monthly lease rate of $20,000 a month and required advance payment for operating supplies and expenses. The monthly lease rate was recorded as Revenue and an Account Receivable while the advances were recorded as an Other Receivable. The monthly lease payments were to commence on harvesting of the first crop. The containers were planted in October 2017 with an expected harvest in January 2018. The initial grow operation encountered a power failure which ultimately resulted in the loss of the crop. The loss of this crop resulted in a deferral of collection of the lease rental payments and the operating cost payments. The power failure highlighted electrical issues with the facility where the containers are being used and improvements to the containers that could be made. The container improvements and facility power requirement issue took a few months to resolve. Effective June 5, 2018, MYHI-AZ and D9 agreed to convert the current amount due under the operating lease, representing $150,000 in lease payments and $22,294 in operating expenses, into a $135,000 note payable, (the "Note"), with a term of 3 years and interest rate of 7% per annum, and to capitalize $35,000 for improvements to the containers. The first payment on the Note was due October 3, 2018. The Parties also agreed to terminate the current lease effective March 31, 2018 and replace it with a new lease beginning July 1, 2018 with lease payments of $5,000 per month beginning November 1, 2018. This replacement lease was terminated on March 31, 2019 as D9 was unable to successfully complete a harvest due to the ongoing power problems and a shift in the focus of their company to extraction only. The Company intends to sell the containers to generate capital to finance this change in focus and has received a $50,000 deposit from a prospective buyer in that regard. On August 18, 2018, the Company entered into an Exchange Agreement (the “Exchange Agreement”) with Alchemy Capital LLC (“Alchemy”) pursuant to which Alchemy, the sole shareholder of One Lab Co (“Labco”), agreed to exchange 100% of the capital stock of Labco for 88,000,000 restricted shares of the Company (the “MYHI Shares”). The Exchange Agreement called for the issuance of 20,000,000 MYHI Shares at Closing and 68,000,000 MYHI Shares after certain equipment under order by Labco at the time (the “Equipment”) was delivered pursuant to a Lease Agreement (the “Lease”) between Labco and Workforce Labor Solutions, LLC (“the Lessee”) . The Equipment consists of a state-of-the-art intermodal extraction laboratory, engineered and designed specifically for processing cannabis. The Lease calls for monthly payments of $25,000 and has a five year term commencing November 1, 2018 with an option to renew for a second five year term. As of July 31, 2019, the Lessee was six months in arrears on the lease. The Company has been in constant discussion with the Lessee regarding this delinquency and hopes to resolve the matter before the end of the current quarter. In conjunction with the acquisition of One Labco and its tangible assets including the Equipment and the Lease, the Company also acquired intangible assets such as industry relationships, access to capital resources and acquisition opportunities. These intangible assets were classified as Goodwill. MYHI issued the 88,000,000 shares of restricted common stock in accordance with the terms of the Exchange Agreement and recorded the acquisition of the Equipment at a cost value of $159,666 and Goodwill of $4,605,134. As of March 31, 2019, the intangible asset was fully impaired.

Going Concern

Going Concern	3 Months Ended
	Jun. 30, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Going Concern	Going Concern The accompanying consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America, which contemplate continuation of the Company as a going concern. The Company has incurred a net loss of $101,247 for the three months ended June 30, 2019 and has an accumulated deficit of $15,226,634. These conditions raise substantial doubt as to the Company’s ability to continue as a going concern. These consolidated financial statements do not include any adjustments that might result from the outcome of this uncertainty. These consolidated financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts, or amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern. Management plans to continue to raise capital to fund the Company’s operations and believes that it can continue to raise equity or debt financing to support its operations until the Company is able to generate positive cash flow from operations.

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Jun. 30, 2019
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Note 2 – Summary of Significant Accounting Policies Basis of Presentation The accompanying consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“US GAAP”). The accompanying consolidated financial statements have been presented in United States Dollars ($ or “USD”). The fiscal year end is March 31. Principles of Consolidation The accounts of the Company and its wholly–owned subsidiaries GreenLife Botanix, MYHI-AZ and One Lab Co are included in the accompanying consolidated financial statements. All intercompany balances and transactions were eliminated on consolidation. Use of Estimates The preparation of financial statements in conformity with US GAAP requires management to make estimates and assumptions. These estimates and assumptions affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. It is possible that accounting estimates and assumptions may be material to the Company due to the levels of subjectivity and judgment involved. Cash and Cash Equivalents Cash and cash equivalents include cash on hand and cash in time deposits, certificates of deposit and all highly liquid debt instruments with original maturities of three months or less. Revenue Recognition As of January 1, 2018, we adopted ASU No. 2014-09, “Revenue from Contracts with Customers” (ASU 2014-09). Leasing revenue recognition is specifically excluded and therefore the new standard is only applicable to service fee and consulting revenue. A five-step model has been introduced for an entity to apply when recognizing revenue. The new guidance also includes enhanced disclosure requirements. The guidance was effective January 1, 2018. The adoption did not have an impact on our financial statements. Revenue represents lease revenue for the grow containers pursuant to the Company's lease with D9 and extraction equipment lease pursuant to the Labco share exchange agreement. For the three months ended June 30, 2019 the Company recorded no revenue. Fixed Assets Fixed Assets are stated at cost. Depreciation is provided on fixed assets using the straight-line method over an estimated service life of five years for equipment. The cost of normal maintenance and repairs is charged to operating expenses as incurred. Material expenditures which increase the life of an asset are capitalized and depreciated over the estimated remaining useful life of the asset. Intangible Assets The Company accounts for intangibles in accordance with ASC 350, Intangible-Goodwill and Other. The Company evaluates intangibles, at a minimum, on an annual basis and whenever events and changes in circumstances suggest that the carrying amount may not be recoverable. Impairment of intangibles is tested by comparing the carrying amount to the fair value. The fair values are estimated using undiscounted projected net cash flows. If the carrying amount exceeds its fair value, intangibles are considered impaired and a second step is performed to measure the amount of impairment loss, if any. The Company evaluates the impairment of intangibles as of the end of each fiscal year or whenever events or changes in circumstances indicate that an intangible asset’s carrying amount may not be recoverable. These circumstances include: · a significant decrease in the market value of an asset; · a significant adverse change in the extent or manner in which an asset is used; or · an accumulation of costs significantly in excess of the amount originally expected for the acquisition of an asset. Income Taxes The Company accounts for income taxes in accordance with ASC Topic 740, Income Taxes Under ASC 740, a tax position is recognized as a benefit only if it is “more likely than not” that the tax position would be sustained in a tax examination, with a tax examination being presumed to occur. The amount recognized is the largest amount of tax benefit that is greater than 50% likely of being realized on examination. For tax positions not meeting the “more likely than not” test, no tax benefit is recorded. The portion of the benefits associated with tax positions taken that exceeds the amount measured as described above is reflected as a liability for unrecognized tax benefits in the balance sheets along with any associated interest and penalties that would be payable to the taxing authorities upon examination. Applicable interest and penalties associated with unrecognized tax benefits are classified as additional income taxes in the statements of operations. The open tax years are 2012, 2013, 2014, 2015, 2016, 2017 and 2018. The Company has no tax positions at June 30, 2019 and 2018, for which the ultimate deductibility is highly certain but for which there is uncertainty about the timing of such deductibility. Basic and Diluted Loss Per Share Earnings per share is calculated in accordance with the ASC Topic 260, Earnings Per Share Recent Accounting Pronouncements Recent authoritative guidance issued by the FASB (including technical corrections to the FASB Accounting Standards Codification), the American Institute of Certified Public Accountants, and the SEC, did not, or are not expected to have a material effect on the Company’s consolidated financial statements.

Note Receivable

Note Receivable	3 Months Ended
	Jun. 30, 2019
Credit Loss [Abstract]
Note Receivable	Note 3 – Note Receivable In May 2017, the Company formed MYHI-AZ to acquire equipment to service the growing cannabis industry. In September 2017, the Company entered into a consulting agreement with D9 Manufacturing, "D9," to provide D9 customers with infrastructure equipment. Also in September 2017, MYHI-AZ purchased 2 intermodal grow containers from D9 to be used in a grow operation in Arizona. MYHI-AZ leased the grow containers to D9 for 3 years with the right to extend the lease for an additional 2 years. The lease began August 15, 2017. The lease provided for a monthly lease rate of $20,000 a month and required advance payment for operating supplies and expenses. The monthly lease rate was recorded as Revenue and an Account Receivable while the advances were recorded as Other Receivable. The monthly lease payments were to commence on harvesting of the first crop. The containers were planted in October 2017 with an expected harvest in January 2018. The initial grow operation encountered a power failure which ultimately resulted in the loss of the crop. The loss of this crop resulted in a deferral of collection of the lease rental payments and the operating cost payments. The power failure highlighted electrical issues with the facility where the containers were being used and improvements to the containers that could be made. While the container improvements were made, the facility power requirement issues were never fully resolved. Effective September 11, 2018, MYHI-AZ and D9 agreed to convert the current amount due under the operating lease, representing $150,000 in lease payments and $22,294 in operating expenses, into a $135,000 note payable, (the "Note"), with a term of 3 years and interest rate of 7% per annum, and to capitalize $35,000 for improvements to the containers. The first payment on the Note was due October 3, 2018. In addition, and in anticipation of the resolution of the power issues at the grow facility, the Parties agreed to terminate the current lease effective March 31, 2018 and replace it with a new lease beginning July 1, 2018 with lease payments of $5,000 per month beginning November 1, 2018. This replacement lease was terminated on March 31, 2019 as D9 was unable to successfully complete a harvest due to the ongoing power problems and a shift in the focus of their company to extraction only. The Note however remained in full force and effect. As of June 30, 2019, D9 was up to date with the required Note payments. The Company is confident that D9 will continue to make the re quired payments for the full term of the Note as D9 has entered into a partnership with Verano Holdings LLC effective February 27, 2019 for the provision of extraction services. This relationship will provide D9 with a more stable platform from which to operate their business.

Fixed Assets

Fixed Assets	3 Months Ended
	Jun. 30, 2019
Property, Plant and Equipment [Abstract]
Fixed Assets	Note 4 – Fixed Assets Fixed assets consist of the following at June 30, 2019: Extraction Equipment $ 159,667 Grow Equipment 235,000 Less: accumulated depreciation and amortization (108,522 ) Total $ 286,145

Accrued liabilities

Accrued liabilities	3 Months Ended
	Jun. 30, 2019
Payables and Accruals [Abstract]
Accrued liabilities	Note 5 – Accrued liabilities As of June 30, 2019, total accrued liabilities consisted of $151,445. A total of $138,945 is related to a liability due to Brent McMahon for Greenlife selling and administrative expenses. A total of $12,500 is related to Greenlife office lease expenses.

Equity

Equity	3 Months Ended
	Jun. 30, 2019
Equity [Abstract]
Equity	Note 6 – Equity Common Stock Effective June 12, 2017, the Company increased its authorized shares of common stock to 500,000,000 shares with a par value of $0.0001 per share. The Company has 250,000,000 shares of preferred stock with a par value of $0.0001 per share. On June 12, 2017, the Company issued 100,000 shares of Series B Convertible Preferred stock to an outside consulting firm for consulting services, valued at $109,700, which was recorded as consulting fees in the three months ended June 30, 2017. Due to the super voting provision of the Series B Convertible Preferred stock the Company recorded a loss on valuation of the shares of $2,084,300, the equivalent of 20,000,000 shares less the associated consulting expense of $109,700. During the three months ended June 30, 2019, the Company converted $65,000 of convertible notes into 4,686,780 shares of common stock.

Notes Payable

Notes Payable	3 Months Ended
	Jun. 30, 2019
Debt Disclosure [Abstract]
Notes Payable	Note 7 - Notes Payable At June 30, 2019, the Company had outstanding convertible notes payable to third parties in the amount of $149,188. The notes had interest rates of 3%-12% and had a conversion provision allowing the holder to convert each note into shares of the Company at a discount. This is referred to as the Beneficial Conversion Feature, "BCF". Due to the fact that the notes could be converted immediately or any time thereafter, there is no amortization of expense, so the Company has elected to record an expense in the current year for the difference between the BCF and the share value on the date the note was executed.: Andrew Cervasio $ 11,217 Lesser of $0.03 or 80% lowest closing bid 15 days prior to conversion St. George Financial $ 23,378 180 days from closing at lower of 65% of avg. 2 lowest closing bid 15 days prior to conversion St.George Financial $ 114,594 180 days from closing at lower of 65% of avg. 2 lowest closing bid 15 days prior to conversion $ 149,188

Related Party Transactions

Related Party Transactions	3 Months Ended
	Jun. 30, 2019
Related Party Transactions [Abstract]
Related Party Transactions	Note 8 - Related Party Transactions Effective April 1, 2017, Alan Smith assigned his consulting agreements and all future amounts due under the agreements to Evolution Equities Corp, "Evolution". Evolution is a related party due to Mr. Smith's ownership interest and positions in the company. Evolution was paid $22,500 for the three months ended June 30, 2019. Additionally, the Company has retained KWPR Group, “KWPR”, a public relations company to assist with web site maintenance, press release preparation and social network posts. KWPR is a related party as the owner Kelly Wood is wife to the CEO Mr. Alan Smith. As of June 30, 2019 the total fees paid to KWPR was $7,500.

Officer fees

Officer fees	3 Months Ended
	Jun. 30, 2019
Compensation Related Costs [Abstract]
Officer fees	Note 9 – Officer fees As of June 30, 2019, total officer fees paid were $22,500 to the Company’s CEO and Director.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Jun. 30, 2019
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 10 – Commitments and Contingencies None.

Subsequent Events

Subsequent Events	3 Months Ended
	Jun. 30, 2019
Subsequent Events [Abstract]
Subsequent Events	Note 11 – Subsequent Events None.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Jun. 30, 2019
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“US GAAP”). The accompanying consolidated financial statements have been presented in United States Dollars ($ or “USD”). The fiscal year end is March 31.
Principles of Consolidation	Principles of Consolidation The accounts of the Company and its wholly–owned subsidiaries GreenLife Botanix, MYHI-AZ and One Lab Co are included in the accompanying consolidated financial statements. All intercompany balances and transactions were eliminated on consolidation.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with US GAAP requires management to make estimates and assumptions. These estimates and assumptions affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. It is possible that accounting estimates and assumptions may be material to the Company due to the levels of subjectivity and judgment involved.
Cash and Cash Equivalents	Cash and Cash Equivalents Cash and cash equivalents include cash on hand and cash in time deposits, certificates of deposit and all highly liquid debt instruments with original maturities of three months or less.
Revenue Recognition	Revenue Recognition As of January 1, 2018, we adopted ASU No. 2014-09, “Revenue from Contracts with Customers” (ASU 2014-09). Leasing revenue recognition is specifically excluded and therefore the new standard is only applicable to service fee and consulting revenue. A five-step model has been introduced for an entity to apply when recognizing revenue. The new guidance also includes enhanced disclosure requirements. The guidance was effective January 1, 2018. The adoption did not have an impact on our financial statements. Revenue represents lease revenue for the grow containers pursuant to the Company's lease with D9 and extraction equipment lease pursuant to the Labco share exchange agreement. For the three months ended June 30, 2019 the Company recorded no revenue.
Fixed Assets	Fixed Assets Fixed Assets are stated at cost. Depreciation is provided on fixed assets using the straight-line method over an estimated service life of five years for equipment. The cost of normal maintenance and repairs is charged to operating expenses as incurred. Material expenditures which increase the life of an asset are capitalized and depreciated over the estimated remaining useful life of the asset.
Intangible Assets	Intangible Assets The Company accounts for intangibles in accordance with ASC 350, Intangible-Goodwill and Other. The Company evaluates intangibles, at a minimum, on an annual basis and whenever events and changes in circumstances suggest that the carrying amount may not be recoverable. Impairment of intangibles is tested by comparing the carrying amount to the fair value. The fair values are estimated using undiscounted projected net cash flows. If the carrying amount exceeds its fair value, intangibles are considered impaired and a second step is performed to measure the amount of impairment loss, if any. The Company evaluates the impairment of intangibles as of the end of each fiscal year or whenever events or changes in circumstances indicate that an intangible asset’s carrying amount may not be recoverable. These circumstances include: · a significant decrease in the market value of an asset; · a significant adverse change in the extent or manner in which an asset is used; or · an accumulation of costs significantly in excess of the amount originally expected for the acquisition of an asset.
Income Taxes	Income Taxes The Company accounts for income taxes in accordance with ASC Topic 740, Income Taxes Under ASC 740, a tax position is recognized as a benefit only if it is “more likely than not” that the tax position would be sustained in a tax examination, with a tax examination being presumed to occur. The amount recognized is the largest amount of tax benefit that is greater than 50% likely of being realized on examination. For tax positions not meeting the “more likely than not” test, no tax benefit is recorded. The portion of the benefits associated with tax positions taken that exceeds the amount measured as described above is reflected as a liability for unrecognized tax benefits in the balance sheets along with any associated interest and penalties that would be payable to the taxing authorities upon examination. Applicable interest and penalties associated with unrecognized tax benefits are classified as additional income taxes in the statements of operations. The open tax years are 2012, 2013, 2014, 2015, 2016, 2017 and 2018. The Company has no tax positions at June 30, 2019 and 2018, for which the ultimate deductibility is highly certain but for which there is uncertainty about the timing of such deductibility.
Basic and Diluted Loss Per Share	Basic and Diluted Loss Per Share Earnings per share is calculated in accordance with the ASC Topic 260, Earnings Per Share
Recent Accounting Pronouncements	Recent Accounting Pronouncements Recent authoritative guidance issued by the FASB (including technical corrections to the FASB Accounting Standards Codification), the American Institute of Certified Public Accountants, and the SEC, did not, or are not expected to have a material effect on the Company’s consolidated financial statements.

Fixed Assets (Tables)

Fixed Assets (Tables)	3 Months Ended
	Jun. 30, 2019
Property, Plant and Equipment [Abstract]
Fixed assets	Extraction Equipment $ 159,667 Grow Equipment 235,000 Less: accumulated depreciation and amortization (108,522 ) Total $ 286,145

Notes Payable (Tables)

Notes Payable (Tables)	3 Months Ended
	Jun. 30, 2019
Notes Payable Tables Abstract
Outstanding convertible notes	Andrew Cervasio $ 11,217 Lesser of $0.03 or 80% lowest closing bid 15 days prior to conversion St. George Financial $ 23,378 180 days from closing at lower of 65% of avg. 2 lowest closing bid 15 days prior to conversion St.George Financial $ 114,594 180 days from closing at lower of 65% of avg. 2 lowest closing bid 15 days prior to conversion $ 149,188

Organization and Basis of Pre_2

Organization and Basis of Presentation (Details Narrative)	3 Months Ended
	Jun. 30, 2019USD ($)shares
Accounting Policies [Abstract]
Note receivable from D9 Manufacturing, amount	$ 135,000
Note receivable from D9 Manufacturing, term	3 years
Note receivable from D9 Manufacturing, interest rate per annum	7.00%
Capitalized amount for improvements to equipment	$ 35,000
Operating lease amount, monthly payment	$ 5,000
Restricted common stock issued pursuant to Exchange Agreement, shares | shares	88,000,000
Acquisition of fixed assets recorded pursuant to Exchange Agreement, value	$ 159,666
Goodwill recorded pursuant to Exchange Agreement	$ 4,605,134

Going Concern (Details Narrativ

Going Concern (Details Narrative) - USD ($)	3 Months Ended		12 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Mar. 31, 2019	Mar. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Net loss	$ (101,247)	$ (702,322)	$ (5,434,865)	$ (3,351,723)
Accumulated deficit	$ (15,226,634)		$ (15,125,387)

Note Receivable (Details Narrat

Note Receivable (Details Narrative)	3 Months Ended
	Jun. 30, 2019USD ($)
Credit Loss [Abstract]
Note receivable from D9 Manufacturing, amount	$ 135,000
Note receivable from D9 Manufacturing, term	3 years
Note receivable from D9 Manufacturing, interest rate per annum	7.00%
Capitalized amount for improvements to equipment	$ 35,000
Operating lease amount, monthly payment	$ 5,000

Fixed Assets - Fixed assets (De

Fixed Assets - Fixed assets (Details)	Jun. 30, 2019USD ($)
Property, Plant and Equipment [Abstract]
Extraction Equipment	$ 159,667
Grow Equipment	235,000
Less: accumulated depreciation and amortization	(108,522)
Total	$ 286,145

Accrued liabilities (Details Na

Accrued liabilities (Details Narrative) - USD ($)	Jun. 30, 2019	Mar. 31, 2019
Accrued liabilities	$ 151,445	$ 151,445
Selling and administrative expenses
Accrued liabilities	138,945
Office lease expenses
Accrued liabilities	$ 12,500

Equity - Common Stock (Details

Equity - Common Stock (Details Narrative) - USD ($)	3 Months Ended		12 Months Ended
	Jun. 30, 2019	Jun. 30, 2017	Mar. 31, 2019
Equity [Abstract]
Common stock, authorized	500,000,000		500,000,000
Common stock, par value	$ 0.0001		$ 0.0001
Preferred stock, authorized	250,000,000		250,000,000
Preferred stock, par value	$ 0.0001		$ 0.0001
Series B Convertible Preferred stock issued for consulting services, shares		100,000
Series B Convertible Preferred stock issued for consulting services, value		$ 109,700
Series B Convertible Preferred stock issued for consulting services, loss on valuation of shares recorded		$ (2,084,300)
Conversion of Convertible Notes Payable, shares	4,686,780
Conversion of Convertible Notes Payable, amount	$ 65,000
Shares returned, amount			$ (8,120)

Notes Payable - Outstanding con

Notes Payable - Outstanding convertible notes (Details)	3 Months Ended
	Jun. 30, 2019USD ($)
Andrew Cervasio
Amount	$ 11,217
Conversion terms	Lesser of $0.03 or 80% lowest closing bid 15 days prior to conversion
St. George Financial
Amount	$ 23,378
Conversion terms	180 days from closing at lower of 65% of avg. 2 lowest closing bid 15 days prior to conversion
St. George Financial (2)
Amount	$ 114,594
Conversion terms	180 days from closing at lower of 65% of avg. 2 lowest closing bid 15 days prior to conversion
Total
Amount	$ 149,188

Notes Payable (Details Narrativ

Notes Payable (Details Narrative) - USD ($)	Jun. 30, 2019	Mar. 31, 2019
Notes Payable Details Narrative Abstract
Outstanding convertible notes payable to third parties	$ 149,188	$ 98,553

Related Party Transactions (Det

Related Party Transactions (Details Narrative)	3 Months Ended
	Jun. 30, 2019USD ($)
Evolution
Consulting agreements with officers assigned to companies with related party interest, amounts paid	$ 22,500
KWPR
Consulting agreements with officers assigned to companies with related party interest, amounts paid	$ 7,500

Officer fees (Details Narrative

Officer fees (Details Narrative)	3 Months Ended
	Jun. 30, 2019USD ($)
CEO
Total officer fees paid	$ 22,500