Cantabio Pharmaceuticals (CTBO) 10-Q 13 Nov 18 2019 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Sep. 30, 2018	Nov. 09, 2018
Document and Entity Information
Entity Registrant Name	Cantabio Pharmaceuticals Inc.
Document Type	10-Q
Document Period End Date	Sep. 30, 2018
Amendment Flag	false
Entity Central Index Key	1,550,518
Current Fiscal Year End Date	--03-31
Entity Common Stock, Shares Outstanding		81,950,977
Entity Filer Category	Non-accelerated Filer
Entity Current Reporting Status	Yes
Document Fiscal Year Focus	2,019
Document Fiscal Period Focus	Q2
Trading Symbol	ctbo

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Sep. 30, 2018	Mar. 31, 2018
Current Assets
Cash	$ 21,527	$ 109,426
Total Current Assets	21,527	109,426
TOTAL ASSETS	21,527	109,426
Current Liabilities
Accounts payable and accrued expenses	641,354	606,751
Accrued technology access fee	162,217	171,105
Convertible debentures	1,479,690	947,160
Convertible debentures related party	161,148	257,614
Total Current Liabilities	2,444,409	1,982,630
TOTAL LIABILITIES	2,444,409	1,982,630
STOCKHOLDERS' EQUITY (DEFICIT)
Common stock value	78,537	51,857
Stock subscriptions	1,060,000	1,060,000
Additional paid-in capital	1,593,884	1,134,763
Accumulated deficit	(5,155,303)	(4,119,824)
Total Stockholders' Equity (Deficit)	(2,422,882)	(1,873,204)
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)	$ 21,527	$ 109,426

Balance Sheets (parenthetical)

Balance Sheets (parenthetical) - $ / shares	Sep. 30, 2018	Mar. 31, 2018
Balance Sheet
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	250,000,000	250,000,000
Common stock, shares issued	78,537,000	51,857,201
Common stock, shares outstanding	78,537,000	51,857,201

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($)	3 Months Ended		6 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Income Statement
Revenues
Operating Costs and Expenses
Research and development expense	79,003	98,904	190,223	196,096
General and administrative expenses	155,128	177,435	279,780	368,169
Total operating costs and expenses	234,131	276,339	470,003	564,265
Income (loss) from operations	(234,131)	(276,339)	(470,003)	(564,265)
Other Income and Expenses
Interest expense	288,693	112,952	637,684	187,423
Change in fair value of embedded derivative	2,000	44,000	120,000	54,000
Gain (loss) on extinguishment of debt	(91,621)		(91,621)
Gain (loss) on extinguishment of debentures	43,829		43,829
Total other income and (expenses)	(334,485)	(68,952)	(565,476)	(133,423)
Net income (loss)	$ (568,616)	$ (345,291)	$ (1,035,479)	$ (697,688)
Basic and diluted earnings (loss) per share	$ (0.01)	$ (0.01)	$ (0.02)	$ (0.03)
Weighted average common shares outstanding - basic and diluted	58,430,000	27,284,000	55,745,000	27,145,000

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	3 Months Ended	6 Months Ended
	Sep. 30, 2018	Sep. 30, 2018	Sep. 30, 2017
CASH FLOWS FROM OPERATING ACTIVITIES
Net income (loss)	$ (568,616)	$ (1,035,479)	$ (697,688)
Adjustments to reconcile net loss to net cash used by operating activities:
Gain (loss) on extinguishment of debt	(91,621)	(91,621)
Gain (loss) on extinguishment of debentures	43,829	43,829
Gain (loss) on extinguishment of obligation		(17,500)
Amortization of debt discount		594,621	156,406
Change in fair value of embedded derivative	2,000	120,000	54,000
Share based compensation for services		10,000	39,549
Changes in operating assets and liabilities:
(Increase) decrease in accounts payable and accrued expenses		104,601	232,564
(Increase) decrease in accrued technology fee		(8,888)	17,688
(Increase) decrease in accrued debenture interest		36,954	21,153
Increase (decrease) in prepaid expenses			1,248
Net cash provided by (used in) operating activities		(352,899)	(283,080)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from issuance of convertible debentures			127,000
Proceeds from issuance of convertible debentures related party		265,000	175,000
Net cash provided by financing activities		265,000	302,000
Net increase (decrease) in cash		(87,899)	18,920
Cash, beginning of period		109,426	32,275
Cash, end of period	$ 21,527	21,527	51,195
Schedule of non-cash financing activities
Beneficial conversion feature - convertible debentures			35,000
Conversion of secured convertible debentures into common shares		388,302
Issuance of shares for accounts payable		$ 70,000	$ 27,178

Organization and Description of

Organization and Description of The Business	6 Months Ended
	Sep. 30, 2018
Notes
Organization and Description of The Business	NOTE 1 - ORGANIZATION AND DESCRIPTION OF THE BUSINESS Cantabio Pharmaceuticals Inc. (the “Company” or “Cantabio”) is a preclinical stage biotechnology company focusing on commercializing novel therapies and the intellectual property generated from research and development activities for Parkinson’s disease (PD) and Alzheimer’s disease (AD). The Company’s strategy involves integration of therapeutic focus, the targeting of family biophysics, drug discovery technology and expertise into an innovative drug discovery approach, which synergizes to identify and develop small molecule pharmacological chaperones for clinical trials. In addition, the Company’s research efforts concentrate on the development of therapeutic proteins that can pass through the blood-brain barrier and supplement in vivo levels of proteins with display loss of function during disease conditions.

Going Concern Disclosure

Going Concern Disclosure	6 Months Ended
	Sep. 30, 2018
Notes
Going Concern Disclosure	NOTE 2 - GOING CONCERN As of September 30, 2018, the Company had a working capital deficit and continues to have losses from operations due to its research and development activities. The Company typically raises capital which it spends on maintaining its research and corporate operations. At this early stage in the life of the Company funding is often short term in nature. While the Company has been proficient in raising funds in the past the short-term nature of these funding cycles raises substantial doubt about the Company's ability to continue as a going concern within one year from the date of this filing. Management is addressing going concern risk by seeking new sources of capital and is continuing initiatives to raise capital through private placements, related party loans and other institutional sources to meet future working capital requirements. Furthermore, strategic partnerships, most likely with larger pharmaceutical industry companies, will be needed to continue to fund research and development costs as our projects expand. These measures, if successful, may contribute to reduce the risk of going concern uncertainties for the Company for at least twelve months from issuance of these condensed consolidated financial statements. The ability of the Company to continue as a going concern is dependent upon its ability to raise additional capital and achieve profitable operations. The accompanying financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern.

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Sep. 30, 2018
Notes
Summary of Significant Accounting Policies	NOTE 3 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Interim Reporting The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, certain information and footnote disclosures normally included in annual financial statements prepared in accordance with U.S. GAAP have been condensed or omitted pursuant to such Securities and Exchange Commission (“SEC”) rules and regulations and accounting principles applicable for interim periods. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. Events subsequent to the balance sheet date have been evaluated for inclusion in the accompanying condensed consolidated financial statements through the date of issuance. Operating results for the three months ended September 30, 2018 are not necessarily indicative of the results that may be expected for the year ending March 31, 2019. These unaudited condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and the notes thereto included in the Annual Report on Form 10-K for the fiscal year ended March 31, 2018. Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of expenses during the year. Management bases its estimates on historical experience and on other assumptions considered to be reasonable under the circumstances. However, actual results may differ from the estimates. Earnings (Loss) per Share The Company calculates earnings per share using basic net income (loss) per common share be computed by dividing net income (loss) for the period by the weighted average number of common shares outstanding during the period. The Company does not compute diluted earnings per share because to do so would be anti-dilutive. Potentially dilutive securities September 30, September 30, 2018 2017 Convertible debentures (Note 6) 59,045,000 11,331,000 Convertible debt related party (Note 7) 7,865,000 5,450,000 Stock subscriptions 530,000 530,000 Recent Accounting Standards Fiscal 2019 Accounting Standards Adoptions In August 2016, the FASB issued ASU No. 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments. This new standard clarifies certain aspects of the statement of cash flows, including the classification of debt prepayment or debt extinguishment costs or other debt instruments with coupon interest rates that are insignificant in relation to the effective interest rate of the borrowing, contingent consideration payments made after a business combination, proceeds from the settlement of insurance claims, proceeds from the settlement of corporate-owned life insurance policies, distributions received from equity method investees and beneficial interests in securitization transactions. This new standard also clarifies that an entity should determine each separately identifiable source of use within the cash receipts and payments on the basis of the nature of the underlying cash flows. In situations in which cash receipts and payments have aspects of more than one class of cash flows and cannot be separated by source or use, the appropriate classification should depend on the activity that is likely to be the predominant source or use of cash flows for the item. This new standard became effective for the Company on April 1, 2018. The new standard does not have a material impact on our financial statements. Recently Issued Accounting Standards In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842). ASU 2016-02 increases the transparency and comparability among organizations by recognizing lease assets and lease liabilities on the balance sheet and disclosing key information about leasing arrangements. Certain qualitative and quantitative disclosures are required, as well as a retrospective recognition and measurement of impacted leases. The new ASU is effective for fiscal years and interim periods within those years beginning after December 15, 2018, with early adoption permitted. The Company is currently evaluating the impact of this new standard and does not expect it to have a material impact on our financial statements. In June 2018, the FASB issued Accounting Standards Update (ASU) 2018-07 intended to reduce cost and complexity and to improve financial reporting for nonemployee share-based payments. Currently, the accounting requirements for nonemployee and employee share-based payment transactions are significantly different. This ASU expands the scope of Topic 718, Compensation-Stock Compensation (which currently only includes share-based payments to employees) to include share-based payments issued to nonemployees for goods or services. Consequently, the accounting for share-based payments to nonemployees and employees will be substantially aligned. This ASU supersedes Subtopic 505-50, Equity-Equity-Based Payments to Nonemployees. The amendments in this ASU are effective for public companies for fiscal years beginning after December 15, 2018, including interim periods within that fiscal year. For all other companies, the amendments are effective for fiscal years beginning after December 15, 2019, and interim periods within fiscal years beginning after December 15, 2020. Early adoption is permitted, but no earlier than a company's adoption date of Topic 606, Revenue from Contracts with Customers. The Company is currently evaluating the impact of this new standard and does not expect it to have a material impact on our financial statements. SEC Disclosure Update and Simplification In August 2018, the SEC adopted the final rule under SEC Release No. 33-10532, Disclosure Update and Simplification, amending certain disclosure requirements that were redundant, duplicative, overlapping, outdated or superseded. In addition, the amendments expanded the disclosure requirements on the analysis of stockholders' equity for interim financial statements. Under the amendments, an analysis of changes in each caption of stockholders' equity presented in the balance sheet must be provided in a note or separate statement. The analysis should present a reconciliation of the beginning balance to the ending balance of each period for which a statement of comprehensive income is required to be filed. This final rule was effective on November 5, 2018. The Company is evaluating the impact of this guidance on its condensed consolidated financial statements.

Related Party Transactions Disc

Related Party Transactions Disclosure	6 Months Ended
	Sep. 30, 2018
Notes
Related Party Transactions Disclosure	NOTE 4 - RELATED PARTY TRANSACTIONS There have been no changes to the Company’s related party consulting arrangements as they have been disclosed in our most recently filed form 10K. Costs incurred associated with related party transactions included in general and administrative in the statement of operations are as follows: For the six months ended September 30, 2018 2017 Operating expenses: Toth and Associates LTD $ 87,000 $ 80,000 Capro LTD 48,000 66,000 Eden Professional LTD 45,000 42,000 Max Zhu Consulting 6,000 12,000 Total related party transactions $ 186,000 $ 200,000 Accounts payable and accrued expenses includes amounts payable to related parties of $0.3 and $0.6 million for the period ended September 30, 2018 and March 31, 2018, respectively.

Convertible Debentures, As Amen

Convertible Debentures, As Amended, Disclosure	6 Months Ended
	Sep. 30, 2018
Notes
Convertible Debentures, As Amended, Disclosure	NOTE 5 - CONVERTIBLE DEBENTURES AS AMENDED New issuance On June 5, 2018 the Company entered into a new securities purchase agreement with an accredited investor to place Convertible Debentures (as amended the “Debentures”) in the aggregate principal amount of up to $300,000 net of issuance costs of $35,000 $265,000 (the “Transaction”). The Debentures bear interest at the rate of 5% per annum with a maturity date of June 5, 2019, as may be extended at the option of the note holder. In addition, the Company must pay to the holder an annual fee equal to 7% of the amount of the Debentures to assist in their monitoring costs for the Debentures. The net proceeds of the financing were used for general corporate matters and for other expenses. The Debentures may be converted at any time on or prior to maturity at the lower of $0.05 or 93% of the average of the three lowest daily volume weighted average price (“VWAP”) during the 10 consecutive trading days immediately preceding the conversion date, provided that as long as we are not in default under the Debenture and the conversion price is never lower than a stated floor price. Amendment At the same time all previous debentures were amended to align them with the new agreement. All the Debentures may be converted at any time on or prior to maturity at the lower of $0.05 (rather than $0.10 as previously) or 93% of the average of the three lowest daily volume weighted average price (“VWAP”) during the 10 consecutive trading days immediately preceding the conversion date, provided that as long as we are not in default under the Debenture and the conversion price is never lower than a stated floor price. The Company accounted for the amendment as a debt modification which resulted in $76,000 impact that was recorded in the change in fair value of embedded derivatives in the Company’s statements of operations. Embedded Derivative Embedded Derivatives - Monthly Payment Provision The monthly payment provision within the Debentures is a contingent put option that is required to be separately measured at fair value, with subsequent changes in fair value recognized in the Condensed Consolidated Statements of Operations. The Company estimated the fair value of the monthly payment provision, as of the issuance date and September 30, 2018 using probability analysis of the occurrence of a Triggering Date applied to the discounted maximum redemption premium for any given payment. The probability analysis utilized in calculating the embedded derivative at September 30, 2018 and March 31, 2018 was calculated using the following key inputs: Monthly Payment Provision September 30, 2018 March 31, 2018 Stock price $0.017 $0.06 Probability of Triggering Date 100% 100% Volatility 300% 300% Risk-free rate 1% 1% Discount rate 0% 0% Due to the Company’s sequencing policy the Company recorded an embedded derivative associated with the conversion feature. The following are the inputs associated with the conversion feature. Conversion Feature September 30, 2018 March 31, 2018 Stock price $0.017 $0.06 Exercise price $0.016 $0.06 Volatility 400% 300% Contractual term 0.14 - 0.68 year 1 year Risk-free rate 1% 1% Discount rate 0% 0% The fair value estimate of the embedded derivatives is a Level 3 measurement. The roll-forward of the Level 3 fair value measurement, for the three months ended September 30, 2018, is as follows: Balance at March 31, 2018 Issuance of new debentures Change due to modification Net realized (gain)/loss Conversion Balance at September 30, 2018 $ 736,000 $ 281,000 $ 76,000 $ ( 200,000 ) $ (65,000) $ 828,000 The approximate carrying value of the Debentures, as of September 30, 2018 and March 31, 2018 is comprised of the following: September 30, 2018 March 31, 2018 Principal value of 5%, convertible, net of conversion $ 916,000 $ 750,000 Fair value of embedded derivatives 828,000 736,000 Accrued interest 34,000 22,264 Debt discount (298,000) (561,104) Carrying value of Secured Convertible Debenture Note $ 1,479,690 $ 947,160 As of September 30, 2018, the estimated aggregate fair value of outstanding convertible notes payable is approximately $1.5 million. The fair value estimate is based on the estimated option value of the conversion terms. The estimated fair value represents a Level 3 measurement. Secured Convertible Debenture Conversions During the six months ended September 30, 2018, holders of approximately $0.16 million in principal amount and accrued interest with respect to Secured Convertible Debentures exercised the conversion option and converted into 7.1 million shares of common stock. The fair market value of the shares issued of $0.12 million was less than the net carrying value of the convertible notes by $0.04 million and a gain on extinguishment was recorded. Events of Default or Financial covenants The Company is in compliance with all terms associated with the convertible note.

Convertible Debt Related Party

Convertible Debt Related Party Disclosures	6 Months Ended
	Sep. 30, 2018
Notes
Convertible Debt Related Party Disclosures	NOTE 6 - CONVERTIBLE DEBT RELATED PARTY Overview The carrying value of the Notes, as of September 30, 2018 and March 31, 2018 is comprised of the following: September 30, 2018 March 31, 2018 Principal value of 5%, convertible, net of conversion $ 120,000 $ 220,000 Fair value of embedded derivatives 95,000 156,000 Accrued interest 4,000 15,204 Debt discount (58,000) (133,590) Carrying value of Secured Convertible Debenture Note $ 161,148 $ 257,614 As of September 30, 2018, the estimated aggregate fair value of outstanding convertible notes payable is approximately $0.2 million. The fair value estimate is based on the estimated option value of the conversion terms. The estimated fair value represents a Level 3 measurement. Conversions In September 2018 the holder converted $100,000 of principal and $25,789 $0.1 of interest into approximately 10.7 million shares of common stock. The fair market value of the shares issued of $0.3 million exceeded the net carrying value of the convertible notes by $0.1 million and a loss on extinguishment was recorded. Embedded features The analysis utilized in calculating the embedded derivative at September 30, 2018 and March 31, 2018 was calculated using the following key inputs: September 30, 2018 March 31, 2018 Stock price $0.017 $0.06 Contractual term 0.27 years 0.1 - 1.0 years Volatility 400% 300% Risk-free rate 1% 1% The fair value estimate of the embedded derivative is a Level 3 measurement. The roll-forward of the Level 3 fair value measurement, for the six months ended September 30, 2018, is as follows: Balance at March 31, 2018 Conversion Net unrealized (gain)/loss Balance at September 30, 2018 $ 156,000 $ (65,000) $ 4,000 $ 95,000 Technical default The remaining note which was due in July 2018 is in technical default, although the obligation has not been called by the lender.

Capital Stock Disclosure

Capital Stock Disclosure	6 Months Ended
	Sep. 30, 2018
Notes
Capital Stock Disclosure	NOTE 7 - CAPITAL STOCK Issuance of shares for consulting services. During the six months ended September 30, 2018 the Company issued approximately 0.4 million shares with a fair value of approximately $10,000 as compensation for services performed, and issued approximately 8.6 million shares to Directors of the company in lieu of $70,000 of unpaid fees.

Subsequent Events, Disclosure

Subsequent Events, Disclosure	6 Months Ended
	Sep. 30, 2018
Notes
Subsequent Events, Disclosure	NOTE 8 - SUBSEQUENT EVENTS The Company issued a convertible loan note to a related party for $115,000 . The loan matures in 6 months, and earns interest at 24% before maturity and 29% thereafter, with conversion terms substantially similar to those already existing A holder of convertible debentures converted approximately $0.4 million of principal and interest into approximately 3.4 million shares of common stock.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies: Interim Reporting Policy (Policies)	6 Months Ended
	Sep. 30, 2018
Policies
Interim Reporting Policy	Interim Reporting The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, certain information and footnote disclosures normally included in annual financial statements prepared in accordance with U.S. GAAP have been condensed or omitted pursuant to such Securities and Exchange Commission (“SEC”) rules and regulations and accounting principles applicable for interim periods. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. Events subsequent to the balance sheet date have been evaluated for inclusion in the accompanying condensed consolidated financial statements through the date of issuance. Operating results for the three months ended September 30, 2018 are not necessarily indicative of the results that may be expected for the year ending March 31, 2019. These unaudited condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and the notes thereto included in the Annual Report on Form 10-K for the fiscal year ended March 31, 2018.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies: Use of Estimates Policy (Policies)	6 Months Ended
	Sep. 30, 2018
Policies
Use of Estimates Policy	Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of expenses during the year. Management bases its estimates on historical experience and on other assumptions considered to be reasonable under the circumstances. However, actual results may differ from the estimates.

Summary of Significant Accoun_4

Summary of Significant Accounting Policies: Earnings (loss) Per Share Policy (Policies)	6 Months Ended
	Sep. 30, 2018
Policies
Earnings (loss) Per Share Policy	Earnings (Loss) per Share The Company calculates earnings per share using basic net income (loss) per common share be computed by dividing net income (loss) for the period by the weighted average number of common shares outstanding during the period. The Company does not compute diluted earnings per share because to do so would be anti-dilutive. Potentially dilutive securities September 30, September 30, 2018 2017 Convertible debentures (Note 6) 59,045,000 11,331,000 Convertible debt related party (Note 7) 7,865,000 5,450,000 Stock subscriptions 530,000 530,000

Summary of Significant Accoun_5

Summary of Significant Accounting Policies: Recent Accounting Standards (Policies)	6 Months Ended
	Sep. 30, 2018
Policies
Recent Accounting Standards	Recent Accounting Standards Fiscal 2019 Accounting Standards Adoptions In August 2016, the FASB issued ASU No. 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments. This new standard clarifies certain aspects of the statement of cash flows, including the classification of debt prepayment or debt extinguishment costs or other debt instruments with coupon interest rates that are insignificant in relation to the effective interest rate of the borrowing, contingent consideration payments made after a business combination, proceeds from the settlement of insurance claims, proceeds from the settlement of corporate-owned life insurance policies, distributions received from equity method investees and beneficial interests in securitization transactions. This new standard also clarifies that an entity should determine each separately identifiable source of use within the cash receipts and payments on the basis of the nature of the underlying cash flows. In situations in which cash receipts and payments have aspects of more than one class of cash flows and cannot be separated by source or use, the appropriate classification should depend on the activity that is likely to be the predominant source or use of cash flows for the item. This new standard became effective for the Company on April 1, 2018. The new standard does not have a material impact on our financial statements. Recently Issued Accounting Standards In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842). ASU 2016-02 increases the transparency and comparability among organizations by recognizing lease assets and lease liabilities on the balance sheet and disclosing key information about leasing arrangements. Certain qualitative and quantitative disclosures are required, as well as a retrospective recognition and measurement of impacted leases. The new ASU is effective for fiscal years and interim periods within those years beginning after December 15, 2018, with early adoption permitted. The Company is currently evaluating the impact of this new standard and does not expect it to have a material impact on our financial statements. In June 2018, the FASB issued Accounting Standards Update (ASU) 2018-07 intended to reduce cost and complexity and to improve financial reporting for nonemployee share-based payments. Currently, the accounting requirements for nonemployee and employee share-based payment transactions are significantly different. This ASU expands the scope of Topic 718, Compensation-Stock Compensation (which currently only includes share-based payments to employees) to include share-based payments issued to nonemployees for goods or services. Consequently, the accounting for share-based payments to nonemployees and employees will be substantially aligned. This ASU supersedes Subtopic 505-50, Equity-Equity-Based Payments to Nonemployees. The amendments in this ASU are effective for public companies for fiscal years beginning after December 15, 2018, including interim periods within that fiscal year. For all other companies, the amendments are effective for fiscal years beginning after December 15, 2019, and interim periods within fiscal years beginning after December 15, 2020. Early adoption is permitted, but no earlier than a company's adoption date of Topic 606, Revenue from Contracts with Customers. The Company is currently evaluating the impact of this new standard and does not expect it to have a material impact on our financial statements. SEC Disclosure Update and Simplification In August 2018, the SEC adopted the final rule under SEC Release No. 33-10532, Disclosure Update and Simplification, amending certain disclosure requirements that were redundant, duplicative, overlapping, outdated or superseded. In addition, the amendments expanded the disclosure requirements on the analysis of stockholders' equity for interim financial statements. Under the amendments, an analysis of changes in each caption of stockholders' equity presented in the balance sheet must be provided in a note or separate statement. The analysis should present a reconciliation of the beginning balance to the ending balance of each period for which a statement of comprehensive income is required to be filed. This final rule was effective on November 5, 2018. The Company is evaluating the impact of this guidance on its condensed consolidated financial statements.

Summary of Significant Accoun_6

Summary of Significant Accounting Policies: Earnings (loss) Per Share Policy: Schedule of Potentially Dilutive Securities (Tables)	6 Months Ended
	Sep. 30, 2018
Tables/Schedules
Schedule of Potentially Dilutive Securities	September 30, September 30, 2018 2017 Convertible debentures (Note 6) 59,045,000 11,331,000 Convertible debt related party (Note 7) 7,865,000 5,450,000 Stock subscriptions 530,000 530,000

Related Party Transactions Di_2

Related Party Transactions Disclosure: Schedule of Related Party Transaction Costs (Tables)	6 Months Ended
	Sep. 30, 2018
Tables/Schedules
Schedule of Related Party Transaction Costs	For the six months ended September 30, 2018 2017 Operating expenses: Toth and Associates LTD $ 87,000 $ 80,000 Capro LTD 48,000 66,000 Eden Professional LTD 45,000 42,000 Max Zhu Consulting 6,000 12,000 Total related party transactions $ 186,000 $ 200,000

Convertible Debentures, As Am_2

Convertible Debentures, As Amended, Disclosure: Convertible Debt, Embedded Derivative - Monthly payment provision (Tables)	6 Months Ended
	Sep. 30, 2018
Tables/Schedules
Convertible Debt, Embedded Derivative - Monthly payment provision	September 30, 2018 March 31, 2018 Stock price $0.017 $0.06 Probability of Triggering Date 100% 100% Volatility 300% 300% Risk-free rate 1% 1% Discount rate 0% 0%

Convertible Debentures, As Am_3

Convertible Debentures, As Amended, Disclosure: Convertible Debt, Beneficial Conversion Feature (Tables)	6 Months Ended
	Sep. 30, 2018
Tables/Schedules
Convertible Debt, Beneficial Conversion Feature	September 30, 2018 March 31, 2018 Stock price $0.017 $0.06 Exercise price $0.016 $0.06 Volatility 400% 300% Contractual term 0.14 - 0.68 year 1 year Risk-free rate 1% 1% Discount rate 0% 0%

Convertible Debentures, As Am_4

Convertible Debentures, As Amended, Disclosure: Fair Value Measured on Embedded Derivative (Tables)	6 Months Ended
	Sep. 30, 2018
Tables/Schedules
Fair Value Measured on Embedded Derivative	Balance at March 31, 2018 Issuance of new debentures Change due to modification Net realized (gain)/loss Conversion Balance at September 30, 2018 $ 736,000 $ 281,000 $ 76,000 $ ( 200,000 ) $ (65,000) $ 828,000

Convertible Debentures, As Am_5

Convertible Debentures, As Amended, Disclosure: Schedule of Carrying Values of Convertible Debt Instruments (Tables)	6 Months Ended
	Sep. 30, 2018
Tables/Schedules
Schedule of Carrying Values of Convertible Debt Instruments	September 30, 2018 March 31, 2018 Principal value of 5%, convertible, net of conversion $ 916,000 $ 750,000 Fair value of embedded derivatives 828,000 736,000 Accrued interest 34,000 22,264 Debt discount (298,000) (561,104) Carrying value of Secured Convertible Debenture Note $ 1,479,690 $ 947,160

Convertible Debt Related Part_2

Convertible Debt Related Party Disclosures: Schedule of Carrying Values of Convertible Debt Instruments (related party) (Tables)	6 Months Ended
	Sep. 30, 2018
Tables/Schedules
Schedule of Carrying Values of Convertible Debt Instruments (related party)	September 30, 2018 March 31, 2018 Principal value of 5%, convertible, net of conversion $ 120,000 $ 220,000 Fair value of embedded derivatives 95,000 156,000 Accrued interest 4,000 15,204 Debt discount (58,000) (133,590) Carrying value of Secured Convertible Debenture Note $ 161,148 $ 257,614

Convertible Debt Related Part_3

Convertible Debt Related Party Disclosures: Embedded Derivative - key inputs (related party) (Tables)	6 Months Ended
	Sep. 30, 2018
Tables/Schedules
Embedded Derivative - key inputs (related party)	September 30, 2018 March 31, 2018 Stock price $0.017 $0.06 Contractual term 0.27 years 0.1 - 1.0 years Volatility 400% 300% Risk-free rate 1% 1%

Convertible Debt Related Part_4

Convertible Debt Related Party Disclosures: Fair Value Measured on Embedded Derivative (related party) (Tables)	6 Months Ended
	Sep. 30, 2018
Tables/Schedules
Fair Value Measured on Embedded Derivative (related party)	Balance at March 31, 2018 Conversion Net unrealized (gain)/loss Balance at September 30, 2018 $ 156,000 $ (65,000) $ 4,000 $ 95,000

Summary of Significant Accoun_7

Summary of Significant Accounting Policies: Earnings (loss) Per Share Policy: Schedule of Potentially Dilutive Securities (Details) - shares	6 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Secured convertible debentures (anti-dilutive shares)
Potentially dilutive securities	59,045,000	11,331,000
Convertible debt related party (anti-dilutive shares)
Potentially dilutive securities	7,865,000	5,450,000
Stock subscription (anti-dilutive shares)
Potentially dilutive securities	530,000	530,000

Related Party Transactions Di_3

Related Party Transactions Disclosure: Schedule of Related Party Transaction Costs (Details) - USD ($)	6 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Related party consulting fees incurred	$ 186,000	$ 200,000
Toth and Associates LTD
Related party consulting fees incurred	87,000	80,000
Capro LTD
Related party consulting fees incurred	48,000	66,000
Eden Professional LTD
Related party consulting fees incurred	45,000	42,000
Max Zhu
Related party consulting fees incurred	$ 6,000	$ 12,000

Related Party Transactions Di_4

Related Party Transactions Disclosure (Details) - USD ($) $ in Millions	Sep. 30, 2018	Mar. 31, 2018
Details
Accounts payable and accrued expenses - related party	$ 0.3	$ 0.6

Convertible Debentures, As Am_6

Convertible Debentures, As Amended, Disclosure (Details) - USD ($)	3 Months Ended		6 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Proceeds from issuance of convertible debentures				$ 127,000
Change in fair value of embedded derivative	$ 2,000	$ 44,000	$ 120,000	$ 54,000
Amount of debt being converted			100,000
Conversion of convertible debt instruments(1)
Amount of debt being converted			160,000
Securities purchase agreement with an accredited investor
Proceeds from issuance of convertible debentures			265,000
Estimated aggregate fair value of all outstanding convertible notes payable	$ 1,500,000		1,500,000
Convertible debt amendment/modification
Change in fair value of embedded derivative			$ 76,000

Convertible Debentures, As Am_7

Convertible Debentures, As Amended, Disclosure: Fair Value Measured on Embedded Derivative (Details) - USD ($)	3 Months Ended		6 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Change in fair value of embedded derivative	$ 2,000	$ 44,000	$ 120,000	$ 54,000
Other debentures
Change in fair value of embedded derivative			$ 200,000

Convertible Debentures, As Am_8

Convertible Debentures, As Amended, Disclosure: Schedule of Carrying Values of Convertible Debt Instruments (Details) - USD ($)	Sep. 30, 2018	Mar. 31, 2018
Convertible debentures	$ 1,479,690	$ 947,160
Secured Convertible Debentures - Principal
Convertible debentures	916,000	750,000
Secured Convertible Debentures - Fair vale of embedded derivative
Convertible debentures	828,000	736,000
Secured Convertible Debentures - Accrued interest
Convertible debentures	34,000	22,264
Secured Convertible Debentures - Debt discount
Convertible debentures	$ (298,000)	$ (561,104)

Convertible Debt Related Part_5

Convertible Debt Related Party Disclosures: Schedule of Carrying Values of Convertible Debt Instruments (related party) (Details) - USD ($)	Sep. 30, 2018	Mar. 31, 2018
Convertible debentures related party	$ 161,148	$ 257,614
Secured Convertible Debentures - Principal
Convertible debentures related party	120,000	220,000
Secured Convertible Debentures - Fair vale of embedded derivative
Convertible debentures related party	95,000	156,000
Secured Convertible Debentures - Accrued interest
Convertible debentures related party	4,000	15,204
Secured Convertible Debentures - Debt discount
Convertible debentures related party	$ (58,000)	$ (133,590)

Convertible Debt Related Part_6

Convertible Debt Related Party Disclosures (Details) shares in Millions, $ in Millions	6 Months Ended
	Sep. 30, 2018USD ($)shares
Amount of debt being converted	$ 0.1
Shares of common stock issued for debt conversion | shares	10.7
Convertible debt arrangements with Max Zhu
Estimated aggregate fair value of all outstanding convertible notes payable	$ 0.2

Convertible Debt Related Part_7

Convertible Debt Related Party Disclosures: Fair Value Measured on Embedded Derivative (related party) (Details) - USD ($)	3 Months Ended		6 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Change in fair value of embedded derivative	$ 2,000	$ 44,000	$ 120,000	$ 54,000
Related debentures
Change in fair value of embedded derivative			$ 4,000

Capital Stock Disclosure (Detai

Capital Stock Disclosure (Details) shares in Millions	6 Months Ended
	Sep. 30, 2018USD ($)shares
Issuance of shares for consulting services.
Common stock issued for services | shares	0.4
Fair value of services performed | $	$ 10,000
Issuance of shares to Directors of the company in lieu of unpaid fees
Common stock issued for services | shares	8.6
Fair value of services performed | $	$ 70,000

Subsequent Events, Disclosure (

Subsequent Events, Disclosure (Details) - USD ($) shares in Millions	1 Months Ended	6 Months Ended
	Nov. 01, 2018	Sep. 30, 2018	Sep. 30, 2017
Proceeds from issuance of convertible debentures			$ 127,000
Amount of debt being converted		$ 100,000
Shares of common stock issued for debt conversion		10.7
Convertible loan issued - subsequent period
Proceeds from issuance of convertible debentures	$ 115,000
Convertible debentures converted - subsequent period
Amount of debt being converted	$ 400,000
Shares of common stock issued for debt conversion	3.4