Document and Entity Information
Document and Entity Information - USD ($) | 12 Months Ended | ||
Mar. 31, 2018 | Jul. 23, 2018 | Jun. 30, 2018 | |
Document And Entity Information | |||
Entity Registrant Name | Cyberfort Software, Inc. | ||
Entity Central Index Key | 1,522,787 | ||
Document Type | 10-K | ||
Document Period End Date | Mar. 31, 2018 | ||
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? | Yes | ||
Entity Filer Category | Smaller Reporting Company | ||
Entity Public Float | $ 0 | ||
Entity Common Stock, Shares Outstanding | 31,258,612 | ||
Document Fiscal Period Focus | FY | ||
Document Fiscal Year Focus | 2,018 |
Balance Sheets
Balance Sheets - USD ($) | Mar. 31, 2018 | Mar. 31, 2017 |
Current assets | ||
Cash | $ 652 | $ 4,424 |
Prepaid expenses | 4,167 | |
Total current assets | 652 | 8,591 |
TOTAL ASSETS | 652 | 8,591 |
Current liabilities | ||
Accounts payable | 115,841 | 107,925 |
Accrued expenses | 399,907 | 286,779 |
Stock payable | 100,000 | 110,000 |
Notes payable - convertible | 52,441 | |
Notes payable | 150,000 | 150,000 |
Total current liabilities | 818,189 | 654,704 |
Total liabilities | 818,189 | 654,704 |
Commitments | ||
Stockholders' deficit: | ||
Common stock, $0.001 par value - 100,000,000 share authorized, 86,123,796 shares issued and outstanding at March 31, 2018 and 85,759,911 at March 31, 2017 | 86,123 | 85,760 |
Additional paid-in capital | 3,252,512 | 3,186,675 |
Accumulated Deficit | (4,156,172) | (3,918,548) |
Total stockholders' deficit | (817,537) | (646,113) |
TOTAL LIABILITIES & STOCKHOLDERS' DEFICIT | $ 652 | $ 8,591 |
Balance Sheets (Parenthetical)
Balance Sheets (Parenthetical) - $ / shares | Mar. 31, 2018 | Mar. 31, 2017 |
Stockholders' Equity | ||
Common stock, par value | $ 0.001 | $ 0.001 |
Common stock, shares authorized | 100,000,000 | 100,000,000 |
Common stock, shares issued | 86,123,796 | 85,759,911 |
Common stock, shares outstanding | 86,123,796 | 85,759,911 |
Statements of Operations
Statements of Operations - USD ($) | 12 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Statements Of Operations | ||
Net revenue | ||
Operating expenses: | ||
General and admin. expenses | 186,596 | 280,619 |
Stock compensation expense | 50,000 | 50,000 |
Depreciation | ||
Impairment on Intangible property | 1,018,530 | |
Total operating expenses | 236,596 | 1,349,149 |
Loss from operations | (236,596) | (1,349,149) |
Other (expenses)/income | ||
Interest Expense | (1,028) | |
Net loss | $ (237,624) | $ (1,349,149) |
Loss per common share - basic and diluted | $ 0 | $ (0.02) |
Weighted average common shares outstanding - basic and diluted | 85,995,867 | 79,911,560 |
Statement of Stockholders' Defi
Statement of Stockholders' Deficit - USD ($) | Common Stock | Additional Paid-In Capital | Accumulated Deficit | Total |
Beginning Balance, Amount at Mar. 31, 2016 | $ 73,400 | $ 1,921,455 | $ (2,569,399) | $ (574,544) |
Beginning Balance, Shares at Mar. 31, 2016 | 73,399,871 | |||
Issuance of common stock for officer compensation, Amount | $ 1,000 | 299,000 | 300,000 | |
Issuance of common stock for officer compensation, Shares | 1,000,000 | |||
Issuance of common stock for officer reimbursement, Amount | $ 390 | 38,610 | 39,000 | |
Issuance of common stock for officer reimbursement, Shares | 390,000 | |||
Issuance of common stock for acquisition, Amount | $ 10,218 | 858,312 | 868,530 | |
Issuance of common stock for acquisition, Shares | 10,218,000 | |||
Issuance of common stock for cash related to acquisition, Amount | $ 471 | 39,529 | 40,000 | |
Issuance of common stock for cash related to acquisition, Shares | 470,588 | |||
Issuance of common stock for cash, Amount | $ 281 | 29,719 | 30,000 | |
Issuance of common stock for cash, Shares | 281,452 | |||
Contributed Capital by officer | 50 | 50 | ||
Net loss | (1,349,149) | (1,349,149) | ||
Ending Balance, Amount at Mar. 31, 2017 | $ 85,760 | 3,186,675 | (3,918,548) | (646,113) |
Ending Balance, Shares at Mar. 31, 2017 | 85,759,911 | |||
Issuance of common stock for cash, Amount | $ 364 | 65,836 | 66,200 | |
Issuance of common stock for cash, Shares | 363,885 | |||
Contributed Capital by officer | ||||
Net loss | (237,624) | (237,624) | ||
Ending Balance, Amount at Mar. 31, 2018 | $ 86,124 | $ 3,252,511 | $ (4,156,172) | $ (817,537) |
Ending Balance, Shares at Mar. 31, 2018 | 86,123,796 |
Statements of Cash Flows
Statements of Cash Flows - USD ($) | 12 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Cash flows from operating activities: | ||
Net loss | $ (237,624) | $ (1,349,149) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Stock based compensation | 50,000 | 50,000 |
Depreciation | ||
Loss on sale of assets | ||
Impairment of technology | 1,018,530 | |
Changes in operating assets and liabilities: | ||
Prepaid expenses | 4,167 | (4,167) |
Accounts payable | 7,917 | 130,160 |
Accrued expenses | 113,128 | |
Net cash used in operating activities | (62,412) | (154,626) |
Cash flows from investing activities: | ||
Net cash provided by investing activities | ||
Cash flows from financing activities: | ||
Proceeds from Notes Payable | 54,140 | 29,000 |
Payment of principle on Notes Payable | (1,700) | |
Issuance of common stock for cash | 66,200 | 70,000 |
Contributed capital | 50 | |
Stock Subscription Payable | (60,000) | 60,000 |
Net cash provided by financing activities | 58,640 | 159,050 |
Net change in cash | (3,772) | 4,424 |
Cash at the beginning of the period | 4,424 | |
Cash at the end of the period | 652 | 4,424 |
Supplemental disclosures of cash flow information: | ||
Cash paid for income taxes | ||
Cash paid for interest | ||
Non-cash investing and financing transactions: | ||
Common stock issued as repayment for advances from related party | 339,000 | |
Stock and debt issued to acquire intangible assets | $ 1,018,530 |
ORGANIZATION
ORGANIZATION | 12 Months Ended |
Mar. 31, 2018 | |
Notes to Financial Statements | |
NOTE 1 - ORGANIZATION | Cyberfort Software, Inc. (formerly known as Patriot Berry Farms, Inc.) (Cyberfort or “The “Company”) was incorporated in the State of Nevada on December 15, 2010 under the name of Gaia Remedies, Inc. On September 26, 2016, the board of directors and the majority shareholders of the Patriot Berry Farms, Inc. approved an amendment to the Articles of Incorporation of the Company to change its name from Patriot Berry Farms, Inc. to Cyberfort Software, Inc. Cyberfort is in the business of developing, marketing, and acquiring software security technology. |
SIGNIFICANT ACCOUNTING POLICIES
SIGNIFICANT ACCOUNTING POLICIES | 12 Months Ended |
Mar. 31, 2018 | |
Notes to Financial Statements | |
NOTE 2 - SIGNIFICANT ACCOUNTING POLICIES | USE OF ESTIMATES The preparation of the Company’s financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amount of revenues and expenses during the reporting period. Actual results could differ from those estimates. The Company’s periodic filings with the Securities and Exchange Commission include, where applicable, disclosures of estimates, assumptions, uncertainties and markets that could affect the financial statements and future operations of the Company. CASH AND CASH EQUIVALENTS Cash and cash equivalents include cash in banks, money market funds, and certificates of term deposits with original maturities of less than three months, which are readily convertible to known amounts of cash and which, in the opinion of management, are subject to an insignificant risk of loss in value. The Company had $652 and $4,424 in cash as of March 31, 2018 and 2017, respectively. INCOME TAXES The Company accounts for income taxes under FASB ASC 740 "Income Taxes." STOCK-BASED COMPENSATION The Company accounts for stock-based compensation issued to non-employees and consultants in accordance with the provisions of FASB ASC 505-50 "Equity - Based Payments to Non-Employees." a b NET INCOME OR (LOSS) PER SHARE OF COMMON STOCK The Company has adopted ASC 260 “Earnings per Share,” The Company has no potentially dilutive securities, such as options or warrants, currently issued and outstanding. RECLASSIFICATION For comparability, certain prior year amounts have been reclassified, where appropriate, to conform to the financial statement presentation used in 2017. The reclassifications have no impact on net loss. |
GOING CONCERN
GOING CONCERN | 12 Months Ended |
Mar. 31, 2018 | |
Notes to Financial Statements | |
NOTE 3 - GOING CONCERN | The accompanying financial statements have been prepared assuming that the Company will continue as a going concern, which contemplates, among other things, the realization of assets and satisfaction of liabilities in the normal course of business. As of March 31, 2018 and 2017, the Company has an accumulated deficit of $4,156,172 and $3,918,548. The Company intends to fund operations through equity financing arrangements, which may be insufficient to fund its capital expenditures, working capital and other cash requirements for the next twelve months. The ability of the Company to emerge from the development stage is dependent upon, among other things, obtaining additional financing to continue operations. In response to this and other potential problems, management intends to raise additional funds through public or private placement offerings. These factors, among others, raise substantial doubt about the Company’s ability to continue as a going concern. The accompanying financial statements do not include any adjustments that might result from the outcome of this uncertainty. |
INTANGIBLE ASSETS
INTANGIBLE ASSETS | 12 Months Ended |
Mar. 31, 2018 | |
Notes to Financial Statements | |
NOTE 4 - INTANGIBLE ASSETS | On September 20, 2016, the Company entered into an Assignment Agreement with Ferlin Corp. to assume a Purchase and Sale Agreement between Ferlin Corp and Mistrin PTY, LTD. that results in the Company effectively purchasing the title, rights, and interest to a software application, (including the source code) in exchange for various consideration. Under the Assignment and the assumed Purchase and Sale Agreement with Mistrin, the Company has assumed a non-interest bearing, unsecured Note Payable to Mistrin for $150,000, will issue 10,688,588 shares of common stock, valued at $0.085 per share, to the seller, assignor, and various individuals, and received $40,000. Consequently, the Company has recorded intangible property related to the transaction of $1,018,530. The Company had not fully issued all the required shares of common stock as of March 31, 2017. These shares were issued during the fiscal year ended March 31, 2018. As such, the Company has treated all shares as issued and outstanding within these financial statements at both March 31, 2018 and March 31, 2017. Per the Purchase and Sale Agreement, the Company was required to make a $50,000 payment related to the assumed Note Payable on September 25, 2016. As of the March 31, 2017, the note payable is past due and the Company has yet to make the required payment and is in Material Breach of said agreement. Additionally, the Purchase and Sale Agreement obligates the Company to hire several identified individuals, fund $10,000 of marketing and development cost per month, and migrate the acquired technology into an Enterprise Class security software product prior to being able to begin the effort of generating revenue. During the year ended March 31, 2017, the Company incurred $34,000 marketing and development expenses. The Company is in negotiations with the Assignor and Seller to amend the various agreements to enable the Company to raise additional funds in order for the Company to accomplish the execution of its current business plan. There are no guarantees that the Company will be able to renegotiate the agreements, raise the required funds, or successfully execute its business plan. Consequently, the Company determined that the acquired intangible property’s value was impaired as of September 30, 2016, due to the material breach and significant uncertainties related to its business plan and has written off the entire value of the intangible property at that date. However, the company intends to continue its efforts to develop the Applications technology and execute its current business plan. |
RELATED PARTY ADVANCES
RELATED PARTY ADVANCES | 12 Months Ended |
Mar. 31, 2018 | |
Notes to Financial Statements | |
NOTE 5 - RELATED PARTY ADVANCES | As of March 31, 2018 and March 31, 2017, the Company did not have any related party transactions, respectively. |
NOTES PAYABLE
NOTES PAYABLE | 12 Months Ended |
Mar. 31, 2018 | |
Notes to Financial Statements | |
NOTE 6 - NOTES PAYABLE | The Company assumed a non-interest bearing Note Payable of $150,000 with a maturity date of March 18, 2017 as a part of the acquisition of the Vivio App in September 2016. As of December 31, 2017, the Company has not made any payments on this Note and is in default. The Company is negotiating with the Note holder to amend the Note’s terms. On October 4, 2017, the Company entered into a convertible loan agreement for $12,500 with an interest rate of 8% per annum and a maturity date of October 3, 2018. The loan is convertible into the Company’s common stock at the market value on the date of conversion. On November 10, 2017, the Company entered into a convertible loan agreement for $5,466 with an interest rate of 8% per annum and a maturity date of November 9, 2018. The loan is convertible into the Company’s common stock at the market value on the date of conversion. On November 24, 2017, the Company entered into a convertible loan agreement for $1,700 with an interest of 8% per annum and a maturity date of November 23, 2018. The loan is convertible into the Company’s common stock at the market value on at the date of conversion. The loan was paid in full during the year. On December 14, 2017, the Company entered into a convertible loan agreement for $13,300 with an interest rate of 8% per annum and a maturity date of December 13, 2018. The loan is convertible into the Company’s common stock at the market value on the date of conversion On January 24, 2018, the Company entered into a convertible loan agreement for $3,000 with an interest rate of 8% per annum and a maturity date of January 23, 2019. The loan is convertible into the Company’s common stock at the market value on the date of conversion. On February 13, 2018, the Company entered into a convertible loan agreement for $11,000 with an interest rate of 8% per annum and a maturity date of February 12, 2019. The loan is convertible into the Company’s common stock at the market value on the date of conversion. On March 26, 2018, the Company entered into a convertible loan agreement for $2,200 with an interest rate of 8% per annum and a maturity date of March 25, 2019. The loan is convertible into the Company’s common stock at the market value on the date of conversion. On March 31, 2018, the Company entered into a convertible loan agreement for $4,974 with an interest rate of 8% per annum and a maturity date of March 30, 2019. The loan is convertible into the Company’s common stock at the market value on the date of conversion. |
STOCKHOLDERS' EQUITY
STOCKHOLDERS' EQUITY | 12 Months Ended |
Mar. 31, 2018 | |
Notes to Financial Statements | |
NOTE 7 - STOCKHOLDERS' EQUITY | On December 14, 2017, the Company issued 172,996 shares of its common stock in exchange for $60,000 received during the year ending March 31, 2017 and recorded as a Stock Payable. The Company had received cash of $60,000 under Subscription Agreements to issue the 172,996 shares of common stock during the year ended March 31, 2017, but the Agreements were not executed by the investors and the common stock was not issued. On March 29, 2018, the Company issued 190,889 shares of common stock in completion of various Stock Subscription Agreements executed during fiscal 2018. Under the employment agreement with the CEO, the Company is required to grant shares of restricted stock after each anniversary date. At March 31, 2018 and March 31, 2017, the company has accrued a stock payable for shares earned but not issued of $100,000 and $50,000, respectively. The number of shares will be determined based upon market value of the stock at the point in time of issuance. As of March 31, 2018 and 2017 there were 86,123,796 and 85,759,911shares of common stock issued and outstanding, respectively. |
COMMITMENTS
COMMITMENTS | 12 Months Ended |
Mar. 31, 2018 | |
Notes to Financial Statements | |
NOTE 8 - COMMITMENTS | On September 28, 2016, the Company entered into four consulting agreements with consultants to act in the role of Technology Development Manager, Chief Technology Officer, Corporate Development Officer, and Advisory Director and to provide consulting services as part of the Purchase and Sale Agreement with Mistrin (See Note 4). The term of the agreements shall be one year and shall be a rolling contract until terminated or extended. The Company shall issue each consultant a total of 200,000 shares of common stock per annum to a total of 800,000 shares per annum. The consulting agreements can be terminated after 90 days by either party for any reason and the consultant is entitled to receive the entire consideration. The 800,000 shares due under these consulting agreements were issued during the year ended March 31, 2018 and the contracts have been cancelled. The Company has reflected it’s issuance of all committed shares related to the consulting agreements as part of the consideration paid pursuant to the Purchase and Sale Agreement with Mistrin (See Note 4). |
INCOME TAXES
INCOME TAXES | 12 Months Ended |
Mar. 31, 2018 | |
Notes to Financial Statements | |
NOTE 9 - INCOME TAXES | We did not provide any current or deferred U.S. federal income tax provision or benefit for any of the periods presented because we have experienced operating losses since inception. When it is more likely than not that a tax asset cannot be realized through future income the Company must allow for this future tax benefit. We provided a full valuation allowance on the net deferred tax assets, consisting of net operating loss carryforwards and intangible assets, because management has determined that it is more likely than not that we will not earn income sufficient to realize the deferred tax assets during the carryforward period. The Company has not taken a tax position that, if challenged, would have a material effect on the financial statements for the years ended March 31, 2018 and 2017, respectively, under ASC 740. We did not recognize any adjustment to the liability for uncertain tax position and therefore did not record any adjustment to the beginning balance of accumulated deficit on the balance sheet. The Company has net operating loss carry forwards totaled approximately $1,972,000 and $1,785,000, as of March 31, 2018 and 2017, respectively, and they will begin to expire in 2032. As of March 31, 2018, the Company saw a decrease of approximately $192,000 in deferred tax assets from income tax loss carry forwards. The significant decline in the carry forwards was due to the passage of the Tax Cuts and Jobs Act on December 20, 2017 that reduced effective tax rates for future periods to 21% from 34%. The decline in value of the income tax loss carry forwards has no impact on our statement of operations. The decline due from the rate change was approximately $256,000 offset by the increase in the net operating loss for the net loss for the year ended March 31, 2018 of $64,000. Deferred tax assets were approximately $760,000 and $953,000 for 2018 and 2017, respectively, and were offset by a valuation allowance. Actual income tax expense for the years ended March 31, 2018 and 2017 is reconciled from the amount computed by applying the U.S. federal income tax rate of 34% to losses before income taxes as follows: 2018 2017 Expected tax benefit (81,000 ) (458,700 ) Reconciling items: Impact in change in tax rate 31,000 - Permanent Differences from Stock compensation 17,000 17,000 Change in Valuation Allowance 33,000 441,700 Total tax expense $ - $ - |
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS | 12 Months Ended |
Mar. 31, 2018 | |
Notes to Financial Statements | |
NOTE 10 - SUBSEQUENT EVENTS | On April 19, 2018, the Company underwent a reverse stock split at a ratio of 10,000 to 1 share, reducing the issued and outstanding shares from 86,123,796 to 8,612 shares issued and outstanding as of the date of the reverse split. On April 19, 2018, the Company issued 30,000,000 shares, post-split, to the Company’s President as repayment for accrued compensation and accrued stock payable On June 19, 2018, the Company issued 1,250,000 shares of its common stock for conversion of a note payable. On June 28, 2018, the Company entered into a convertible loan agreement for $18,000 with an interest rate of 8% per annum and a maturity date of June 30, 2019. The loan is convertible into the Company’s common stock at the market value on the date of conversion. |
SIGNIFICANT ACCOUNTING POLICI17
SIGNIFICANT ACCOUNTING POLICIES (Policies) | 12 Months Ended |
Mar. 31, 2018 | |
Significant Accounting Policies | |
USE OF ESTIMATES | The preparation of the Company’s financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amount of revenues and expenses during the reporting period. Actual results could differ from those estimates. The Company’s periodic filings with the Securities and Exchange Commission include, where applicable, disclosures of estimates, assumptions, uncertainties and markets that could affect the financial statements and future operations of the Company. |
CASH AND CASH EQUIVALENTS | Cash and cash equivalents include cash in banks, money market funds, and certificates of term deposits with original maturities of less than three months, which are readily convertible to known amounts of cash and which, in the opinion of management, are subject to an insignificant risk of loss in value. The Company had $652 and $4,424 in cash as of March 31, 2018 and 2017, respectively. |
INCOME TAXES | The Company accounts for income taxes under FASB ASC 740 "Income Taxes." |
STOCK-BASED COMPENSATION | The Company accounts for stock-based compensation issued to non-employees and consultants in accordance with the provisions of FASB ASC 505-50 "Equity - Based Payments to Non-Employees." a b |
NET INCOME OR (LOSS) PER SHARE OF COMMON STOCK | The Company has adopted ASC 260 “Earnings per Share,” The Company has no potentially dilutive securities, such as options or warrants, currently issued and outstanding. |
RECLASSIFICATION | For comparability, certain prior year amounts have been reclassified, where appropriate, to conform to the financial statement presentation used in 2017. The reclassifications have no impact on net loss. |
INCOME TAXES (Tables)
INCOME TAXES (Tables) | 12 Months Ended |
Mar. 31, 2018 | |
Income Taxes | |
Schedule of income tax expense | 2018 2017 Expected tax benefit (81,000 ) (458,700 ) Reconciling items: Impact in change in tax rate 31,000 - Permanent Differences from Stock compensation 17,000 17,000 Change in Valuation Allowance 33,000 441,700 Total tax expense $ - $ - |
ORGANIZATION (Details Narrative
ORGANIZATION (Details Narrative) | 12 Months Ended |
Mar. 31, 2018 | |
Organization | |
Date of Incorporation | Dec. 15, 2010 |
State of Incorporation | Nevada |
SIGNIFICANT ACCOUNTING POLICI20
SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) - USD ($) | Mar. 31, 2018 | Mar. 31, 2017 |
Significant Accounting Policies Details Narrative | ||
Cash | $ 652 | $ 4,424 |
GOING CONCERN (Details Narrati
GOING CONCERN (Details Narrative) - USD ($) | Mar. 31, 2018 | Mar. 31, 2017 |
Going Concern | ||
Accumulated Deficit | $ (4,156,172) | $ (3,918,548) |
INTANGIBLE ASSETS (Details Narr
INTANGIBLE ASSETS (Details Narrative) - USD ($) | 1 Months Ended | 12 Months Ended | ||
Mar. 31, 2018 | Sep. 20, 2016 | Mar. 31, 2018 | Mar. 31, 2017 | |
Notes Payable | $ 150,000 | $ 150,000 | $ 150,000 | |
Impairment of intangible property | 1,018,530 | |||
Agreement [Member] | ||||
Notes Payable | 50,000 | $ 150,000 | $ 50,000 | |
Common stock, shares issued | 10,688,588 | |||
Common stock, price per share | $ 0.085 | |||
Selling, general and admin. expenses | $ 10,000 | $ 34,000 | ||
Assignment agreement [Member] | Ferlin Corp [Member] | ||||
Impairment of intangible property | $ 1,018,530 | |||
Proceeds from sale of common stock | $ 40,000 |
NOTES PAYABLE (Details Narrativ
NOTES PAYABLE (Details Narrative) - USD ($) | Dec. 14, 2017 | Nov. 10, 2017 | Oct. 04, 2017 | Mar. 31, 2018 | Mar. 26, 2018 | Feb. 13, 2018 | Jan. 24, 2018 | Nov. 24, 2017 | Mar. 31, 2018 |
Convertible loan agreement [Member] | |||||||||
Maturity date | Dec. 13, 2018 | Nov. 9, 2018 | Oct. 3, 2018 | Mar. 30, 2019 | Mar. 25, 2019 | Feb. 12, 2019 | Jan. 23, 2019 | Nov. 23, 2018 | |
Convertible debt | $ 13,300 | $ 5,466 | $ 12,500 | $ 4,974 | $ 2,200 | $ 11,000 | $ 3,000 | $ 1,700 | $ 4,974 |
Interest rate | 8.00% | 8.00% | 8.00% | 8.00% | 8.00% | 8.00% | 8.00% | 8.00% | |
Vivio App [Member] | |||||||||
Non-interest bearing note payable assumed | $ 150,000 | ||||||||
Maturity date | Mar. 18, 2017 |
STOCKHOLDERS' EQUITY (DEFICIT)
STOCKHOLDERS' EQUITY (DEFICIT) (Details Narrative) - USD ($) | 12 Months Ended | |||
Mar. 31, 2018 | Mar. 31, 2017 | Mar. 29, 2018 | Dec. 14, 2017 | |
Common stock, shares issued | 86,123,796 | 85,759,911 | ||
Common stock, shares outstanding | 86,123,796 | 85,759,911 | ||
Accrued stock payable | $ 100,000 | $ 50,000 | ||
Stock Subscription Payable | $ (60,000) | 60,000 | ||
Subscription Agreements [Member] | ||||
Common stock reserved for future issuance | 172,996 | |||
Stock Subscription Payable | $ 60,000 | |||
Various Stock Subscription Agreements [Member] | ||||
Common stock, shares issued | 190,889 |
COMMITMENTS (Details Narrative)
COMMITMENTS (Details Narrative) - shares | 1 Months Ended | 12 Months Ended |
Sep. 28, 2016 | Mar. 31, 2018 | |
Term of consulting agreement | 1 year | |
Common stock, shares issuable under agreement | 800,000 | |
Terms and conditions of agreement | The consulting agreements can be terminated after 90 days by either party for any reason and the consultant is entitled to receive the entire consideration. | |
Common stock shares issued cancelled | 800,000 | |
Technology development manager [Member] | Consulting agreement [Member] | ||
Common stock, shares issuable under agreement | 200,000 | |
Chief technology officer [Member] | Consulting agreement [Member] | ||
Common stock, shares issuable under agreement | 200,000 | |
Corporate development officer [Member] | Consulting agreement [Member] | ||
Common stock, shares issuable under agreement | 200,000 | |
Advisory director [Member] | Consulting agreement [Member] | ||
Common stock, shares issuable under agreement | 200,000 |
INCOME TAXES (Details)
INCOME TAXES (Details) - USD ($) | 12 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Income Taxes Details | ||
Expected tax benefit | $ (81,000) | $ (458,700) |
Reconciling items: | ||
Impact in change in tax rate | 31,000 | |
Permanent Differences from Stock compensation | 17,000 | 17,000 |
Change in Valuation Allowance | 33,000 | 441,700 |
Total tax expense |
INCOME TAXES (Details Narrative
INCOME TAXES (Details Narrative) - USD ($) | 12 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Income Taxes Details Narrative | ||
Net operating loss carry forwards | $ (1,972,000) | $ (1,785,000) |
Operating loss carry forwards expire period | 2,032 | |
Decrease in deferred tax assets | $ 256,000 | |
Deferred tax asset offset amount | 64,000 | |
Deferred tax assets loss carry forwards | 192,000 | |
Deferred tax assets | $ 760,000 | $ 953,000 |
Decrease in carry forwards, description | The significant decline in the carry forwards was due to the passage of the Tax Cuts and Jobs Act on December 20, 2017 that reduced effective tax rates for future periods to 21% from 34%. |
SUBSEQUENT EVENTS (Details Narr
SUBSEQUENT EVENTS (Details Narrative) - Subsequent Event [Member] - USD ($) | 1 Months Ended | ||
Jun. 28, 2018 | Jun. 19, 2018 | Apr. 19, 2018 | |
Convertible debt | $ 18,000 | ||
Interest rate | 8.00% | ||
Debt maturity date | Jun. 30, 2019 | ||
Reverse stock split | 10,000 to 1 | ||
Reverse stock split description | The Company underwent a reverse stock split at a ratio of 10,000 to 1 share, reducing the issued and outstanding shares from 86,123,796 to 8,612 shares issued and outstanding as of the date of the reverse split | ||
Debt conversion, converted instrument, shares issued | 1,250,000 | ||
President [Member] | |||
Post-split shares issued | 30,000,000 |