Cantabio Pharmaceuticals (CTBO) 10-Q 14 Aug 17 2018 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information	3 Months Ended
	Jun. 30, 2017shares
Document and Entity Information
Entity Registrant Name	Cantabio Pharmaceuticals Inc.
Document Type	10-Q
Document Period End Date	Jun. 30, 2017
Amendment Flag	false
Entity Central Index Key	1,550,518
Current Fiscal Year End Date	--03-31
Entity Common Stock, Shares Outstanding	27,134,419
Entity Filer Category	Smaller Reporting Company
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q1
Trading Symbol	ctbo

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($)	Jun. 30, 2017	Mar. 31, 2017
Current Assets
Cash	$ 5,001	$ 32,275
Prepaid expenses		1,248
Total Current Assets	5,001	33,523
TOTAL ASSETS	5,001	33,523
Current Liabilities
Accounts payable and accrued expenses	465,746	377,893
Accrued technology access fee	150,155	140,142
Convertible debentures	472,449	322,256
Notes payable related party	48,420	47,154
Total Current Liabilities	1,136,770	887,445
TOTAL LIABILITIES	1,136,770	887,445
STOCKHOLDERS' EQUITY (DEFICIT)
Common stock value	27,134	26,805
Stock subscriptions	1,060,000	1,060,000
Additional paid-in capital	241,544	167,324
Accumulated deficit	(2,460,447)	(2,108,051)
Total Stockholders' Equity (Deficit)	(1,131,769)	(853,922)
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)	$ 5,001	$ 33,523

Balance Sheets (parenthetical)

Balance Sheets (parenthetical) - $ / shares	Jun. 30, 2017	Mar. 31, 2017
Balance Sheet
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	250,000,000	250,000,000
Common stock, shares issued	27,134,419	26,805,270
Common stock, shares outstanding	27,134,419	26,805,270

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($)	3 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Income Statement
Revenues
Operating Costs and Expenses
Research and development expense	97,192	112,732
General and administrative expenses	190,733	154,328
Total operating costs and expenses	287,925	267,060
Income (loss) from operations	(287,925)	(267,060)
Other Income and Expenses
Interest expense	74,471	3,869
Change in fair value of embedded derivative	10,000
Gain (loss) on foreign exchange		5,062
Total other income and (expenses)	(64,471)	1,193
Net income (loss)	$ (352,396)	$ (265,867)
Basic and diluted earnings (loss) per share	$ (0.01)	$ (0.01)
Weighted average common shares outstanding - basic and diluted	27,004,613	26,805,270

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Cash Flows - USD ($)	3 Months Ended		12 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Mar. 31, 2017
CASH FLOWS FROM OPERATING ACTIVITIES
Net income (loss)	$ (352,396)	$ (265,867)
Adjustments to reconcile net loss to net cash used by operating activities:
Accretion to notes payable to related party	1,266
Amortization of debt discount	58,130
Accrued debenture interest	10,062
Change in fair value of embedded derivative	10,000
Stock issued in lieu of services	39,549
Changes in operating assets and liabilities:
(Increase) decrease in accounts payable and accrued expenses	87,855	15,294
(Increase) decrease in accrued technology fee	10,012	10,351
Increase (decrease) in prepaid expenses	1,248
Net cash provided by (used in) operating activities	(154,274)	(240,222)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from issuance of convertible debentures	127,000
Proceeds from stock subscriptions		385,000
Net cash provided by financing activities	127,000	385,000
Effect of exchange rate on cash		(1,287)
Net increase (decrease) in cash	(27,274)	143,491
Cash, beginning of period	32,275	52,110	$ 52,110
Cash, end of period	5,001	$ 195,601	$ 32,275
Schedule of non-cash financing activities
Beneficial conversion feature - convertible debentures	$ 35,000

Organization and Description of

Organization and Description of The Business	3 Months Ended
	Jun. 30, 2017
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.

Liquidity and Going Concern Dis

Liquidity and Going Concern Disclosure	3 Months Ended
	Jun. 30, 2017
Notes
Liquidity and Going Concern Disclosure	NOTE 2 - LIQUIDITY AND GOING CONCERN As of June 30, 2017, the Company had a working capital deficit of approximately $1,131,769 million and losses from operations of approximately $287,925 . 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 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	3 Months Ended
	Jun. 30, 2017
Notes
Summary of Significant Accounting Policies	NOTE 3 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES There have been no material changes in the Company’s significant accounting policies to those previously disclosed in the Company’s annual report on Form 10-K, which was filed with the SEC on June 30, 2017. Recent Accounting Standards Fiscal 2018 Accounting Pronouncement 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 will be effective for us on April 1, 2018. 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 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.

Material Agreements Disclosure

Material Agreements Disclosure	3 Months Ended
	Jun. 30, 2017
Notes
Material Agreements Disclosure	NOTE 4 - MATERIAL AGREEMENTS There have been no material changes in the Company’s material agreements to those previously disclosed in the Company’s annual report on Form 10-K, which was filed with the SEC on June 30, 2017.

Related Party Transactions Disc

Related Party Transactions Disclosure	3 Months Ended
	Jun. 30, 2017
Notes
Related Party Transactions Disclosure	NOTE 5 - RELATED PARTY TRANSACTIONS Toth and Associates LTD On July 1, 2016, the Company entered into a consulting agreement with Toth and Associates, LTD for Dr. Toth to act as the Company’s CEO. The standard monthly fee is approximately $13,000 plus any additional uncontracted hours at the same rate, and bonuses as follows (A) upon raising of capital on behalf of, or as part of the Company, an amount equal to 1.5% of the capital raised, (B) increasing the performance of the Company as measured by valuation in either an agreed valuation in the context of an investment or, in the case of a public company, market capitalization reaching $30.0 million, a fixed bonus of $50,000 , payable wholly or in mutually agreed tranches over a 6 month period subsequent to the valuation event, (C) on the issuance of new stock for the purposes of a capital raise of an amount over $5.0 million, common stock equal to 1% of the Company’s post-investment issued share capital and (D) in the event of the Company, including any affiliated entities, securing a licensing agreement with any third party, an amount equivalent to 1.5% of any payments to the Company under such licensing agreement. The Company incurred consulting fees of approximately $40,000 for the quarter ended June 30, 2017. As of June 30, 2017, Toth and Associates LTD was owed approximately $110,000, comprising $60,000 unpaid fees from fiscal years 2017 and 2018, and $50,000 bonus carried over from fiscal year 2016. The $110,000 is included in accounts payable. In the quarter ended June 30, 2016, the Company incurred consulting fees and bonuses of approximately $36,000 . As of March 31, 2017, Toth and Associates LTD was owed approximately $86,000 , comprising $36,000 fees and $50,000 bonus. Capro LTD On July 1, 2016, the Company entered a consulting agreement with Capro, LTD for Dr. Thomas Sawyer to act as the Company’s COO. The standard monthly fee is approximately $11,000 plus any additional uncontracted hours at the same rate, and bonuses as follows (A) upon raising of capital on behalf of, or as part of the Company, an amount equal to 1.5% of the capital raised, (B) increasing the performance of the Company as measured by valuation in either an agreed valuation in the context of an investment or, in the case of a public company, market capitalization reaching $30.0 million, a fixed bonus of $50,000 , payable wholly or in mutually agreed tranches over a 6 month period subsequent to the valuation event and (C) on the issuance of new stock for the purposes of a capital raise of an amount over $5.0 million, common stock equal to 1% of the Company’s post-investment issued share capital and (D) in the event of the Company, including any affiliated entities, securing a licensing agreement with any third party, an amount equivalent to 1.5% of any payments to the Company under such licensing agreement. The Company incurred consulting fees and bonuses of approximately $33,000 for the quarter ended June 30, 2017. As of June 30, 2017, Capro LTD was owed approximately $93,000 , comprising $43,000 unpaid fees from fiscal years 2017 and 2018, and $50,000 bonus carried over from fiscal year 2016. The $93,000 is included in accounts payable. In the quarter ended June 30, 2016, the Company incurred consulting fees and bonuses of approximately $30,000 . As of March 31, 2017, Capro LTD was owed approximately $73,000 , comprising $23,000 fees and $50,000 bonus. Eden Professional LTD On July 1, 2016, the Company entered a consulting agreement with Eden Professional LTD for Mr. Simon Peace to act as the Company’s CFO. The standard monthly fee is approximately $7,000 plus any additional uncontracted hours at the same rate, and bonuses as follows (A) upon raising of capital on behalf of, or as part of the Company, an amount equal to 1.5% of the capital raised, (B) increasing the performance of the Company as measured by valuation in either an agreed valuation in the context of an investment or, in the case of a public company, market capitalization reaching $30.0 million, a fixed bonus of $50,000 , payable wholly or in mutually agreed tranches over a 6 month period subsequent to the valuation event and (C) on the issuance of new stock for the purposes of a capital raise of an amount over $5.0 million, common stock equal to 1% of the Company’s post-investment issued share capital and (D) in the event of the Company, including any affiliated entities, securing a licensing agreement with any third party, an amount equivalent to 1.5% of any payments to the Company under such licensing agreement. The Company incurred consulting fees and bonuses of approximately $21,000 for the quarter ended June 30, 2017. As of June 30, 2017, Eden Professional LTD was owed approximately $82,000 , comprising $32,000 unpaid fees from fiscal years 2017 and 2018, and $50,000 bonus carried over from fiscal year 2016. The $82,000 is included in accounts payable. In the quarter ended June 30, 2016, the Company incurred consulting fees and bonuses of approximately $19,000 . In addition to the amounts under the note payable referred to in Note 6 below, as of March 31, 2017, Eden Professional LTD was owed approximately $69,000 , comprising $19,000 fees and $50,000 bonus. Max Zhu Max Zhu, an investor in and lender to the Company, also works as Head of Computer Aided Drug Design for the Company under a consultancy contract. In the quarter ended June 30, 2017, the Company paid fees to Mr. Zhu under this contract totalling $6,000 . In the quarter ended June 30, 2016, the Company paid fees to Mr. Zhu totalling $6,000 .

Notes Payable Related Parties,

Notes Payable Related Parties, Disclosure	3 Months Ended
	Jun. 30, 2017
Notes
Notes Payable Related Parties, Disclosure	NOTE 6 - NOTES PAYABLE RELATED PARTIES On December 8, 2016, Max Zhu, an investor and consultant to the Company, advanced the Company $45,000 under a note. The note has a term of six months, which matured on June 8, 2017. The note accrues interest at 13% up to maturity, and 18% thereafter.

Capital Stock Disclosure

Capital Stock Disclosure	3 Months Ended
	Jun. 30, 2017
Notes
Capital Stock Disclosure	NOTE 7 - CAPITAL STOCK Issuance of shares On May 15, 2017, the Company issued 129,149 shares, at a fair value of $15,149 , to research staff of the Company, in recognition of their long term commitment. On May 22, 2017, the Company issued 200,000 shares, at a fair value of $24,400 , as part payment for investor relations services supplied to the Company.

Convertible Debentures, Disclos

Convertible Debentures, Disclosure	3 Months Ended
	Jun. 30, 2017
Notes
Convertible Debentures, Disclosure	NOTE 8 - CONVERTIBLE DEBENTURES Background On January 25, 2017, the Company entered into a securities purchase agreement with an accredited investor to place Convertible Debentures (as amended the “Debentures”) with a maturity date of January 25, 2018 in the aggregate principal amount of up to $600,000 (the “Transaction”), provided that in case of an event of default, the Debentures may become at the holder’s election immediately due and payable. The initial closing of the Transaction occurred on January 25, 2017 when the Company issued a Debenture for $300,000. A second closing for $150,000 occurred on March 2, 2017 and a third closing for $150,000 occurred on May 3, 2017. The Debentures bear interest at the rate of 5% per annum. In addition, the Company must pay to the holder a 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 will be used for general corporate matters and for other expenses. Conversion Features The Debentures may be converted at any time on or prior to maturity at the lower of $0.3107 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, the conversion price may never be less than $0.05 . Any time after the six-month anniversary of the issuance of a Debenture that the daily VWAP is less than $0.05 for a period of twenty consecutive trading days (the “Triggering Date”) and only for so long as such conditions exist after a Triggering Date, the Company shall make monthly payments beginning on the last calendar day of the month when the Triggering Date occurred. Each monthly payment shall be in an amount equal to the sum of (i) the principal amount outstanding as of the Triggering Date divided by the number of such monthly payments until maturity, (ii) a redemption premium of 20% in respect of such principal amount and (iii) accrued and unpaid interest hereunder as of each payment date. The Company may, no more than twice, obtain a thirty-day deferral of a monthly payment due as a result of a Triggering Date through the payment of a deferral fee in the amount equal to 10% of the total amount of such monthly payment. Each deferral payment may be paid by the issuance of such number of shares as is equal to the applicable deferral payment divided by a price per share equal to 93% of the average of the four lowest daily VWAPs during the 10 consecutive Trading Days immediately preceding the due date in respect of such monthly payment begin deferred, provided that such shares issued will be immediately freely tradable shares in the hands of the holder. Debt discount, embedded redemption feature and beneficial conversion feature Upon issuance of the Debentures in the three closings, the Company recognized an aggregate debt discount of approximately $239,000 to the aggregate $600,000 principal value of Debentures, comprised approximately of the following: Fees paid to an affiliate of the lender $ 109,000 Beneficial conversion feature 103,000 Estimated fair value of embedded derivative 27,000 Aggregate discount amount $ 239,000 The debenture is presented net of the related debt discount and the discount is amortized to interest expense over the Debenture’s term using the effective interest method. Beneficial Conversion Feature At the time of each closing, the Debenture’s effective conversion price was below the quoted market price of the Company’s common stock. As such, the Company recognized a beneficial conversion feature equal to the intrinsic value of the conversion feature on each issuance date, resulting in a discount to the Debenture with a corresponding credit to additional paid-in capital. Embedded Derivative 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 Consolidated Statements of Operations. The Company estimated the fair value of the monthly payment provision, as of the issuance date and June 30, 2017 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 upon issuance and at June 30, 2017 was calculated using the following key inputs: Key Inputs Stock price $ 0.11 - $0.23 Probability of Triggering Date 3.5% - 25.3% Volatility 213.7% Risk-free rate 0.82% - 1.14% Discount rate 39.6% The maximum redemption was discounted at 39.6%, the calculated effective rate of the Debenture before measurement of the contingent put option. 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 three months ended June 30, 2017, is as follows: Balance at March 31, 2017 Issuance Net unrealized (gain)/loss Balance at June 30, 2017 24,000 $ 6,000 $ (10,000) $ 20,000 The carrying value of the Debentures, as of June 30, 2017, is comprised of the following: Secured Convertible Debenture at June 30, 2017: Principal value of 5%, convertible $ 600,000 Fair value of embedded derivative 20,000 Accrued Interest 10,063 Debt discount (157,614) Carrying value of Secured Convertible Debenture Note $ 472,449 As of June 30, 2017, the estimated aggregate fair value of all outstanding convertible notes payable is approximately $650,000 . The fair value estimate is based on the estimated option value of the conversion terms. The estimated fair value represents a Level 3 measurement. As of June 30, 2017, there were 27,134,419 shares of our common stock outstanding, of which 12,523,878 shares were held by non-affiliates. If the selling stockholder converts the Convertible Notes, the ownership position of the shareholders prior to the conversion would be diluted. If the selling stockholder converts the Convertible Notes into all of the 4,000,000 shares being offered by this prospectus, such shares would represent 12.8% of all of our then outstanding shares and 24.2% of the then total number of shares held by non-affiliates (assuming no further issuances). Events of Default or Financial covenants The Company is in compliance with all terms associated with the convertible note.

Subsequent Events

Subsequent Events	3 Months Ended
	Jun. 30, 2017
Notes
Subsequent Events	NOTE 9 - SUBSEQUENT EVENTS Note payable to related party On July 3, 2017, the Company entered into a convertible debt arrangement with Max Zhu for $75,000 . The conversion of the loan shall be at a price which is the lower of $0.08 per share and 80% of the lowest calculated volume-weighted average price of the stock during the five days before the date of the conversion notice. The agreement included an amendment to the earlier loan of $45,000 such that both will now be on the same terms as this new loan.

Summary of Significant Accoun15

Summary of Significant Accounting Policies: Recent Accounting Standards (Policies)	3 Months Ended
	Jun. 30, 2017
Policies
Recent Accounting Standards	Recent Accounting Standards Fiscal 2018 Accounting Pronouncement 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 will be effective for us on April 1, 2018. 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 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.

Convertible Debentures, Discl16

Convertible Debentures, Disclosure: Debt discount, embedded redemption feature and beneficial conversion feature (Tables)	3 Months Ended
	Jun. 30, 2017
Tables/Schedules
Debt discount, embedded redemption feature and beneficial conversion feature	Fees paid to an affiliate of the lender $ 109,000 Beneficial conversion feature 103,000 Estimated fair value of embedded derivative 27,000 Aggregate discount amount $ 239,000

Convertible Debentures, Discl17

Convertible Debentures, Disclosure: Embedded Derivative - key inputs (Tables)	3 Months Ended
	Jun. 30, 2017
Tables/Schedules
Embedded Derivative - key inputs	Key Inputs Stock price $ 0.11 - $0.23 Probability of Triggering Date 3.5% - 25.3% Volatility 213.7% Risk-free rate 0.82% - 1.14% Discount rate 39.6%

Convertible Debentures, Discl18

Convertible Debentures, Disclosure: Fair Value Measured on Embedded Derivative (Tables)	3 Months Ended
	Jun. 30, 2017
Tables/Schedules
Fair Value Measured on Embedded Derivative	Balance at March 31, 2017 Issuance Net unrealized (gain)/loss Balance at June 30, 2017 24,000 $ 6,000 $ (10,000) $ 20,000

Convertible Debentures, Discl19

Convertible Debentures, Disclosure: Schedule of Carrying Values of Convertible Debt Instruments (Tables)	3 Months Ended
	Jun. 30, 2017
Tables/Schedules
Schedule of Carrying Values of Convertible Debt Instruments	Secured Convertible Debenture at June 30, 2017: Principal value of 5%, convertible $ 600,000 Fair value of embedded derivative 20,000 Accrued Interest 10,063 Debt discount (157,614) Carrying value of Secured Convertible Debenture Note $ 472,449

Liquidity and Going Concern D20

Liquidity and Going Concern Disclosure (Details) - USD ($)	3 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Details
working capital deficit	$ 1,131,769
Income (loss) from operations	$ 287,925	$ 267,060

Related Party Transactions Di21

Related Party Transactions Disclosure (Details) - USD ($)	3 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Mar. 31, 2017
Toth and Associates LTD
Monthly compensation	$ 13,000
Fixed bonus, to be paid if certain conditions are met	50,000
Related party consulting fees incurred	40,000	$ 36,000
Accounts payable - related party	110,000		$ 86,000
Capro LTD
Monthly compensation	11,000
Fixed bonus, to be paid if certain conditions are met	50,000
Related party consulting fees incurred	33,000	30,000
Accounts payable - related party	93,000		73,000
Eden Professional LTD
Monthly compensation	7,000
Fixed bonus, to be paid if certain conditions are met	50,000
Related party consulting fees incurred	21,000	19,000
Accounts payable - related party	82,000		$ 69,000
Max Zhu
Related party consulting fees incurred	$ 6,000	$ 6,000

Notes Payable Related Parties22

Notes Payable Related Parties, Disclosure (Details)	12 Months Ended
	Mar. 31, 2017USD ($)
Max Zhu
Proceeds from related party notes payable	$ 45,000

Capital Stock Disclosure (Detai

Capital Stock Disclosure (Details)	3 Months Ended
	Jun. 30, 2017USD ($)shares
Research staff
Common stock issued for services | shares	129,149
Fair value assigned to compensated services | $	$ 15,149
Investor relations services
Common stock issued for services | shares	200,000
Fair value assigned to compensated services | $	$ 24,400

Convertible Debentures, Discl24

Convertible Debentures, Disclosure (Details) - USD ($)	3 Months Ended
	Jun. 30, 2017	Mar. 31, 2017
Convertible debentures issued	$ 600,000
Estimated aggregate fair value of all outstanding convertible notes payable	$ 650,000
Common stock outstanding	27,134,419	26,805,270
Common stock held by non-affiliates	12,523,878
January 25, 2017 Securities Purchase Agreement - Third closing
Convertible debentures issued	$ 150,000
Convertible Debentures Issued
Annual interest rate	5.00%
Monitoring costs Fee	7.00%
Conversion features	The Debentures may be converted at any time on or prior to maturity at the lower of $0.3107 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, the conversion price may never be less than $0.05

Convertible Debentures, Discl25

Convertible Debentures, Disclosure: Debt discount, embedded redemption feature and beneficial conversion feature (Details)	Jun. 30, 2017USD ($)
Debt discount amount	$ 239,000
Convertible Debentures - Fees paid to an affiliate
Debt discount amount	109,000
Convertible Debentures - Beneficial conversion feature
Debt discount amount	103,000
Convertible Debentures - Estimated fair value of embedded derivative
Debt discount amount	$ 27,000

Convertible Debentures, Discl26

Convertible Debentures, Disclosure: Fair Value Measured on Embedded Derivative (Details)	3 Months Ended
	Jun. 30, 2017USD ($)
Details
Net loss realized in fair value of embedded derivative	$ 10,000

Convertible Debentures, Discl27

Convertible Debentures, Disclosure: Schedule of Carrying Values of Convertible Debt Instruments (Details) - USD ($)	Jun. 30, 2017	Mar. 31, 2017
Details
Convertible debentures issued	$ 600,000
Fair value of embedded derivative	20,000
Accrued interest	10,063
Debt discount	(157,614)
Convertible debentures	$ 472,449	$ 322,256

Subsequent Events (Details)

Subsequent Events (Details) - USD ($)	Jul. 03, 2017	Jun. 30, 2017
Convertible debentures issued		$ 600,000
Convertible debt arrangement with Max Zhu
Convertible debentures issued	$ 75,000