Rocky Mountain Industrials (RMRI) 10-K15 Dec 212021 FY Annual reportFinancial data

Company Profile

Document And Entity Information

Document And Entity Information - USD ($)	12 Months Ended
Document And Entity Information - USD ($)	Mar. 31, 2021	Dec. 15, 2021	Dec. 01, 2021
Document Information [Line Items]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Mar. 31, 2021
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	FY
Entity Registrant Name	Rocky Mountain Industrials, Inc.
Entity Central Index Key	0001556179
Current Fiscal Year End Date	--03-31
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	No
Entity Shell Company	false
Entity Emerging Growth Company	true
Entity Small Business	true
Entity Ex Transition Period	false
Entity Filer Category	Non-accelerated Filer
Entity Public Float			$ 0
Entity Interactive Data Current	No
Document Transition Report	false
Entity File Number	0-55402
Entity Incorporation, State or Country Code	NV
Entity Tax Identification Number	46-0750094
Entity Address, Address Line One	4601 DTC Blvd.
Entity Address, Address Line Two	Suite 130
Entity Address, City or Town	Denver
City Area Code	720
Local Phone Number	614-5213
Entity Address, State or Province	CO
Entity Address, Postal Zip Code	80237
Preferred stock, shares outstanding		118.47
Document Annual Report	true
Class A Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		35,785,858
Class B Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		4,822,332

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Mar. 31, 2021	Mar. 31, 2020
Current assets
Cash	$ 1,621,822	$ 57,240
Accounts receivable	71,555	80,180
Other receivable	3,404,010
Inventory		9,520
Prepaid expenses	588,340	388,953
Restricted cash	185,325	217,500
Assets held for sale	5,000	2,674,941
Total current assets	5,876,052	3,428,334
Property, plant, and equipment, net	2,672,661	2,973,221
Land under development	6,929,630	6,800,616
Right of use asset	241,868	519,754
Asset retirement obligation	75,984	62,195
Other intangibles, net	64,933	68,191
Deposits and other assets	111,178	56,785
Total assets	15,972,306	13,909,096
Current liabilities
Accounts payable	610,216	1,223,995
Accrued liabilities	647,180	1,064,633
Accrued liabilities, related party	1,311,250	1,210,000
Dividends payable	1,008,942	140,032
Debt due within one year	4,474,082	1,756,654
Liabilities held for sale	423,853	2,363,203
Total current liabilities	8,475,523	7,758,517
Debt due after one year	952,059	250,000
Preferred shares debt		200,001
Lease liability	241,868	519,754
Accrued reclamation liability	119,593	108,701
Total liabilities	9,789,043	8,836,973
Commitments and Contingencies (Note 12)
Stockholders' Equity
Additional paid-in capital	51,658,183	49,276,203
Accumulated deficit	(57,367,534)	(48,572,143)
Total stockholders' equity	6,183,263	5,072,123
Total liabilities and stockholders' equity	15,972,306	13,909,096
Series A-1 Preferred Stock
Stockholders' Equity
Preferred Stock	4,827,000	4,327,000
Series A-2 Preferred Stock
Stockholders' Equity
Preferred Stock	1,950,000
Series A-3 Preferred Stock
Stockholders' Equity
Preferred Stock	5,075,140
Class A Common Stock
Stockholders' Equity
Common Stock	35,786	35,786
Class B Common Stock
Stockholders' Equity
Common Stock	$ 4,688	$ 5,277

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Mar. 31, 2021	Mar. 31, 2020
Preferred stock, shares authorized	50,000,000
Series A-1 Preferred Stock
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized	50,000,000	50,000,000
Preferred stock, shares issued	48.27	43.27
Preferred stock, shares outstanding	48.27	43.27
Series A-2 Preferred Stock
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized	50,000,000	50,000,000
Preferred stock, shares issued	19.45	0
Preferred stock, shares outstanding	19.45	0
Series A-3 Preferred Stock
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized	50,000,000	50,000,000
Preferred stock, shares issued	50.75	0
Preferred stock, shares outstanding	50.75	0
Class A Common Stock
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized	2,000,000,000	2,000,000,000
Common stock, shares issued	35,785,858	35,785,858
Common stock, shares outstanding	35,785,858	35,785,858
Class B Common Stock
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	4,687,332	4,840,919
Common stock, shares outstanding	4,687,332	4,840,919

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($)	12 Months Ended
Consolidated Statements of Operations - USD ($)	Mar. 31, 2021	Mar. 31, 2020
Consolidated Statements of Operations
Revenue	$ 680,225	$ 1,084,113
Cost of goods sold	699,087	955,901
Gross profit (loss)	(18,862)	128,212
Selling, general and administrative (includes depreciation, depletion and amortization of $304,755 in 2021 and $523,762 in 2020)	12,132,761	11,856,820
Loss from operations	(12,151,623)	(11,728,608)
Gain on sale of assets	6,417,744	18,000
Interest income (expense), net	(799,072)	(257,701)
Loss before income tax provision	(6,532,951)	(11,968,309)
Income tax expense	0	861
Net loss from continuing operations	(6,532,951)	(11,967,448)
Loss from discontinued operations, net of tax	(1,393,530)	(584,936)
Net Loss	$ (7,926,481)	$ (12,552,384)
Basic loss per share from continuing operations (in dollars per share)	$ (1.02)	$ (2.27)
Diluted loss per share from continuing operations (in dollars per share)	(1.02)	(2.27)
Basic loss per share from discontinued operations (in dollars per share)	(0.22)	(0.11)
Diluted loss per share from discontinued operations (in dollars per share)	(0.22)	(0.11)
Basic loss (in dollars per share)	(1.37)	(2.38)
Diluted loss (in dollars per share)	$ (1.37)	$ (2.38)
Weighted average shares outstanding, basic	6,404,685	5,264,892
Weighted average shares outstanding, diluted	6,404,685	5,264,892

Consolidated Statements of Op_2

Consolidated Statements of Operations (Parenthetical) - USD ($)	12 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Consolidated Statements of Operations
Depreciation, depletion and amortization	$ 304,755	$ 523,762

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity - USD ($)	Preferred SharesSeries A-1 Preferred Stock	Preferred SharesSeries A-2 Preferred Stock	Preferred SharesSeries A-3 Preferred Stock	Common StockClass A Common Stock	Common StockClass B Common Stock	Additional Paid-in Capital	Accumulated Deficit	Noncontrolling Interest	Series A-2 Preferred Stock	Total
Balance at Mar. 31, 2019				$ 35,786	$ 4,033	$ 42,102,105	$ (35,428,938)	$ 99,212		$ 6,812,198
Balance (in shares) at Mar. 31, 2019				35,785,858	4,032,752
Equity conversion of RMRA to RMRI common stock					$ 167	(167)	99,212	$ (99,212)
Equity conversion of RMRA shares for RMRI common share (in shares)					166,667
Forfeiture of common stock					$ (94)	94
Forfeiture of common stock (in shares)					(93,500)
Stock-based compensation from stock options						3,750,268				3,750,268
Issuance of warrant for services					$ 436	299,638				300,074
Issuance of common stock for services (Shares)					12,000
Issuance of preferred shares	$ 4,327,000						(500,000)			3,777,000
Issuance of preferred shares (in shares)	43.27
Issuance of preferred shares for services					$ 12	(12)
Issuance of common shares for subscription					$ 175	3,124,825				3,125,000
Issuance of common shares for subscription (in shares)					175,000
Issuance of restricted common shares for compensation					$ 524	(524)
Issuance of restricted common shares for compensation (in shares)					524,000
Issuance of shares to Board members					$ 24	(24)
Issuance of shares to Board members (in shares)					24,000
Quarterly dividends on preferred shares							(140,033)			(140,033)
Net loss							(12,552,384)			(12,552,384)
Balance at Mar. 31, 2020	$ 4,327,000			$ 35,786	$ 5,277	49,276,203	(48,572,143)			5,072,123
Balance (in shares) at Mar. 31, 2020	43.27			35,785,858	4,840,919
Forfeiture of common stock					$ (385)	385
Forfeiture of common stock (in shares)					(384,000)
Stock-based compensation from stock options						5,699,030				5,699,030
Issuance of common shares upon exercise of warrants					$ 61	749,939				750,000
Issuance of common shares upon exercise of warrants (in shares)					60,000
Issuance of common stock for services					$ 40	1,007,460				1,007,500
Issuance of common stock for services (Shares)					40,300
Issuance of preferred shares		$ 1,500,000								1,500,000
Issuance of preferred shares (in shares)		14.95
Issuance of preferred shares for services	$ 500,000									500,000
Issuance of preferred shares for services (in shares)	5
Issuance of restricted common shares for compensation					$ 445	(444)				1
Issuance of restricted common shares for compensation (in shares)					444,456
Issuance of preferred stock for debt settlement		$ 200,000								200,000
Issuance of preferred stock for debt settlement (in shares)		2
Issuance of preferred stock for notes payable settlement		$ 250,000								250,000
Issuance of preferred stock for notes payable settlement (in shares)		2.50
Exchange of Common Stock for Preferred shares			$ 5,075,140		$ (338)	(5,074,802)
Exchange of Common Stock for Preferred shares (in shares)			50.75		(338,343)
Other					$ (436)	436
Issuance of shares to Board members					$ 24	(24)
Issuance of shares to Board members (in shares)					24,000
Quarterly dividends on preferred shares							(868,910)		$ (8,000)	(868,910)
Net loss							(7,926,481)			(7,926,481)
Balance at Mar. 31, 2021	$ 4,827,000	$ 1,950,000	$ 5,075,140	$ 35,786	$ 4,688	$ 51,658,183	$ (57,367,534)			$ 6,183,263
Balance (in shares) at Mar. 31, 2021	48.27	19.45	50.75	35,785,858	4,687,332

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
Consolidated Statements of Cash Flows - USD ($)	Mar. 31, 2021	Mar. 31, 2020
Cash flow from Operating Activities:
Net loss	$ (7,926,481)	$ (12,552,384)
Adjustments to reconcile net loss to net cash used in operating activities
Operating cash flows from (used in) discontinued operations	2,625,152	(548,210)
Depreciation, depletion and amortization expense	304,755	523,762
Stock-based compensation	6,074,015	4,050,579
Gain on sale of assets	(6,417,744)	0
Amortization of debt discount	630,053	8,708
Accretion expense	10,892	(18,872)
Deferred rent	0	(39,898)
Changes in operating assets and liabilities:
Accounts receivable	8,625	22,690
Other receivable	(3,404,010)	0
Inventory	9,520	39,456
Prepaid expenses	(199,387)	(248,730)
Restricted cash	32,175	(105,806)
Deposits and other assets	(54,393)	9,057
Accounts payable	(613,779)	348,530
Accrued liabilities	215,047	2,177,264
Accrued liabilities, related parties	101,250	95,000
Payments on lease liability	0	519,754
Net cash used in operating activities	(8,604,310)	(5,719,100)
Cash Flows from Investing Activities:
Proceeds from lot sale	7,639,090	0
Investments in land under development	(1,333,784)	(2,015,996)
Purchase of property, plant and equipment	(38,279)	0
Acquisition of other intangibles	0	(35,899)
Net cash used in investing activities	6,267,027	(2,051,895)
Cash Flows from Financing Activities:
Proceeds from note payable	5,160,370	567,856
Repayment of debt	(3,485,615)	(169,801)
Deferred financing cost	(22,890)	0
Net cash provided by financing activities	3,901,865	7,299,818
Net increase (decrease) in cash	1,564,582	(471,177)
Cash at beginning of period	57,240	528,417
Cash at end of period	1,621,822	57,240
Additional Cash Flow Elements and Supplemental Cash Flow Information [Abstract]
Restricted cash at beginning of period	217,500	111,964
Decrease in collateral requirement	(32,175)	131,436
Increase in surety bond	0	(25,900)
Restricted cash at end of period	185,325	217,500
Supplemental cash flow information
Cash paid for interest	248,805	351,163
Cash paid for income taxes	0	0
Class B Common Stock
Cash Flows from Financing Activities:
Proceeds from issuance of Class B common stock	750,000	3,124,763
Series A-2 Preferred Stock
Cash Flows from Financing Activities:
Proceeds from issuance of preferred shares	1,500,000	0
Series A-1 Preferred Stock
Cash Flows from Financing Activities:
Proceeds from issuance of preferred shares	$ 0	$ 3,777,000

ORGANIZATION

ORGANIZATION	12 Months Ended
ORGANIZATION	Mar. 31, 2021
ORGANIZATION
ORGANIZATION	1. ORGANIZATION On January 1, 2020, the Company changed its name from RMR Industrials, Inc. to Rocky Mountain Industrials, Inc. Rocky Mountain Industrials, Inc. (the “Company”, “RMI”, “we”, “our”, “us”) seeks to acquire and consolidate complementary industrial assets. RMI’s consolidation strategy is to assemble a portfolio of mature and value-add industrial commodities businesses to generate scalable enterprises with a broad portfolio of products and services addressing a common and stable customer base. Formation Online Yearbook was incorporated in the State of Nevada on August 6, 2012. Online Yearbook was a development stage company with the principal business objective of developing and marketing an online yearbook. On November 17, 2014, Rocky Mountain Resource Holdings Inc., a Nevada Corporation (the “Purchaser”) became the majority shareholder of Online Yearbook, by acquiring 5,200,000 shares of common stock of Online Yearbook (the “Shares”), or 69.06% of the issued and outstanding shares of common stock, pursuant to stock purchase agreements with Messrs. El Maraana and Salah Blal. The Shares were acquired for an aggregate purchase price of $357,670. The Purchaser was the source of the funds used to acquire the Shares. In connection with Online Yearbook’s receipt of approval from the Financial Industry Regulatory Authority (“FINRA”), effective December 8, 2014, Online Yearbook amended its Articles of Incorporation to change its name from “Online Yearbook” to “RMR Industrials, Inc.” On February 27, 2015 (the “Closing Date”), the Company entered into and consummated a merger transaction pursuant to an Agreement and Plan of Merger (the “Merger Agreement”) by and among the Company, OLYB Acquisition Corporation, a Nevada corporation and wholly owned subsidiary of the Company (“Merger Sub”) and RMR IP, Inc., a Nevada corporation (“RMR IP”). In accordance with the terms of Merger Agreement, on the Closing Date, Merger Sub merged with and into RMR IP (the “Merger”), with RMR IP surviving the Merger as our wholly owned subsidiary. For financial reporting purposes, the Merger represented a “reverse merger” rather than a business combination and RMR IP was deemed to be the accounting acquirer in the transaction. Consequently, the assets and liabilities and the historical operations reflected in the Company’s financial statements post-Merger are those of RMR IP. The Company’s assets, liabilities and results of operations have been consolidated with the assets, liabilities and results of operations of RMR IP after consummation of the Merger, and the historical financial statements of the Company before the Merger were replaced with the historical financial statements of RMR IP before the Merger in all post-Merger filings with the SEC. On January 3, 2017, we amended the Articles of Incorporation of RMR IP, Inc. to rename the corporation to RMR Logistics, Inc. (“RMR Logistics”). RMR Logistics operates as a wholly-owned subsidiary of the Company to provide transportation and logistics services. On July 28, 2016, we formed RMR Aggregates, Inc., a Colorado corporation (“RMR Aggregates”), as our wholly owned subsidiary. RMR Aggregates was formed to hold assets whose primary focus is the mining and processing of industrial minerals for the manufacturing, construction and agriculture sectors. These minerals include limestone, aggregates, marble, silica, barite and sand. On October 12, 2016, RMR Aggregates acquired substantially all of the assets from CalX Minerals, LLC, a Colorado limited liability company (“CalX”) through an Asset Purchase Agreement. Pursuant to the terms of the Asset Purchase Agreement, RMR Aggregates agreed to purchase, and CalX agreed to sell, substantially all of the assets associated with the Mid-Continent Quarry on 41 BLM unpatented placer mining claims in Garfield County, Colorado, including the mining claims, improvements, access rights, water rights, equipment, inventory, contracts, permits, certain intellectual property rights, and other tangible and intangible assets associated with the limestone mining operation. During January 2018, the Company formed Rail Land Company, LLC (“Rail Land Company”) as a wholly-owned subsidiary to acquire and develop a rail terminal and services facility (the “Rail Park”). Rail Land Company purchased an approximately 470-acre parcel of real property located in Bennett, Colorado on February 1, 2018. In July of 2018 we exercised our option to acquire an additional approximately 150 acres for a total of approximately 620 acres. On April 26, 2019, RMR Logistics entered into an asset purchase agreement with H2K, LLC, a Colorado limited liability company (“the Seller”) pursuant to which RMR Logistics acquired the Seller’s trucking assets. In April 2020, the Company began the shutdown of substantially all the operations of RMR Logistics with the closure of its Wellington, Colorado location and the disposal of its operational assets through auction.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	Mar. 31, 2021
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES A summary of significant accounting policies of the Company is presented to assist in understanding the Company’s consolidated financial statements. The accounting policies presented in these footnotes conform to accounting principles generally accepted in the United States and have been consistently applied in the preparation of the accompanying consolidated financial statements. These consolidated financial statements and notes are representations of the Company’s management who are responsible for their integrity and objectivity. Basis of Presentation and Consolidation The accompanying consolidated financial statements for the fiscal year ended March 31, 2021 and 2020 have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) for annual financial information in accordance with Securities and Exchange Commission (SEC) regulations. The consolidated financial statements include the financial condition and results of operations of our wholly-owned subsidiaries, where intercompany balances and transactions have been eliminated in consolidation. Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates, judgments, and assumptions that impact the reported amounts of assets, liabilities, and expenses, and disclosure of contingent assets and liabilities in the financial statements and accompanying notes. Actual results could materially differ from those estimates. Management considers many factors in selecting appropriate financial accounting policies and controls, and in developing the estimates and assumptions that are used in the preparation of these financial statements. Management must apply significant judgment in this process. In addition, other factors may affect estimates, including: expected business and operational changes, sensitivity and volatility associated with the assumptions used in developing estimates, and whether historical trends are expected to be representative of future trends. The estimation process may yield a range of potentially reasonable estimates of the ultimate future outcomes and management must select an amount that falls within that range of reasonable estimates. Although these estimates are based on the Company’s knowledge of current events and actions it may undertake in the future, actual results may ultimately materially differ from those estimated amounts and assumptions used in the preparation of the financial statements. Revenue Recognition As of January 1, 2018, we adopted ASU NO. 2014-09, “Revenue from Contracts with Customers” (Topic 606). The Company recognizes revenues upon delivery of goods to the customer at which time the Company’s performance obligation is satisfied at an amount that the Company expects to be entitled to in exchange for those goods in accordance with the five step analysis outlined in Topic 606: (i) identify the contract with the customer, (ii) identify the performance obligations in the contract, (iii) determine the transaction price, (iv) allocate the transaction price to the performance obligations, and (v) recognize revenue when (or as) performance obligations are satisfied. Revenue includes product sales of limestone, aggregate materials and other transportation charges to customers, net of discounts, allowances or taxes, as applicable. Segment Reporting Operating segments are identified as components of an enterprise about which separate discrete financial information is available for evaluation by the chief operating decision-maker in making decisions regarding resource allocation and assessing performance. As of March 31, 2021, the Company views its operations and manages its business as two operating segments, Aggregates and Rail Park development. Cash and Cash Equivalents The Company considers all highly liquid securities with original maturities of three months or less at the date of purchase to be cash equivalents. As of March 31, 2021, the Company had cash of $1,621,822 and no cash equivalents. The Company may occasionally maintain cash balances in excess of amounts insured by the Federal Deposit Insurance Corporation (“FDIC”). The amounts are held with major financial institutions and are monitored by management to mitigate credit risk. Restricted Cash As of March 31, 2021, the Company has $185,325 in restricted cash that is contractually obligated to be held on behalf of the Bureau of Land management to be held for the rehabilitation costs of the Mid-Continent Quarry and conclusion of the mining at this location. Accounts Receivable Accounts receivables are recorded at the invoiced amount and do not bear interest. The Company analyzes collectability based on historical payment patterns and macroeconomic factors which may affect the customers’ industry. Past due balances over 90 days based on payment terms are reviewed individually for collectability. The Company does not have any off-balance sheet credit exposure related to its customers. Concentration of credit risk is limited to certain customers to whom we make substantial sales. To reduce risk, we routinely assess the financial strength of our most significant customers, using standard credit risk evaluation methods with reference to publicly available and customer supplied information, and monitor the amounts owed and take appropriate action when necessary. As a result, we believe that accounts receivable credit risk exposure is limited. Inventory Inventories are valued at the lower of cost or market. Cost is determined by the weighted average method. Property, Plant and Equipment Property, plant and equipment are recorded at cost. Significant improvements are capitalized, while maintenance and repair expenses are charged to operations as incurred. The straight-line method of depreciation is used for substantially all of the assets for financial reporting purposes. Depletion of acquired mineral properties is determined pursuant to a unit-of-extraction method which provides for depletion of such costs over the productive life of the mineral properties. The unit-of-extraction rate is determined by computing the production for the period as a percentage of total estimated and recoverable limestone as of that period. Significant judgement is involved in the determination of the estimate of total recoverable limestone in the unit-of-extraction method. Our internal engineering estimates of total estimated and recoverable limestone is a key component in determination of the unit-of-extraction rate. Our estimates of the recoverable limestone may change, possibly in the near term, resulting in changes to depletion rates in future periods. During the years ended March 31, 2021 and 2020, depletion of mineral properties was approximately $6,700 and $9,000, respectively. We are considered an “exploration stage” company under the U.S. Securities and Exchange Commission (“SEC”) Industry Guide 7 as such the Company expenses any development costs as incurred. Land Under Development Land under development is recorded at cost. Significant improvements are capitalized. These costs relate to the ongoing development of the Rail Park. Lease Obligations On April 1, 2019, we adopted FASB ASU 2016-02, Leases: (Topic 842) (“ASU 2016-02”), For leases in which the Company is the lessee, the Company determined that the guidance has a material impact as the Company has three operating leases for office space. Two of these leases have greater than 12 months remaining on the term of these leases at the date of the adoption of this guidance and as such the Company recorded a right of use asset and a lease liability of $491,111 at the date of adoption. Leases with a term of 12 months or less will be accounted for similar to existing guidance for operating leases. Deposits Deposits consist of a security deposit in connection with various office leases. Impairment of Long-Lived Assets The Company evaluates its long-lived assets for impairment when events or changes in circumstances indicate that the related carrying amounts may not be recoverable. Asset impairment is considered to exist if the total estimated future cash flows on an undiscounted basis are less than the carrying amount of the asset. Any impairment losses are measured and recorded based on discounted estimated future cash flows and are charged to income on the Company’s consolidated statements of operations. In estimating future cash flows, assets are grouped at the lowest level for which there are identifiable cash flows that are largely independent of future cash flows from other asset groups. The Company’s estimates of future cash flows are based on numerous assumptions, including expected commodity prices, production levels, capital requirements and estimated salvage values. It is possible that actual future cash flows will be significantly different than the estimates, as actual future quantities of recoverable material, future commodity prices, production levels and costs and capital are each subject to significant risks and uncertainties. As of March 31, 2021, the Company’s mineral resources do not meet the definition of proven or probable reserves or value beyond proven or probable reserves and any potential revenue has been excluded from the cash flow assumptions. Accordingly, recoverability of the long-lived assets’ capitalized cost is based primarily on estimated salvage values or alternative future uses. Fair Value Measurements The fair value of a financial instrument is the amount that could be received upon the sale of an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Financial assets are marked to bid prices and financial liabilities are marked to offer prices. Fair value measurements do not include transaction costs. A fair value hierarchy is used to prioritize the quality and reliability of the information used to determine fair values. Categorization within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. The fair value hierarchy is defined into the following three categories: - Level 1: Quoted market prices in active markets for identical assets or liabilities - Level 2: Observable market-based inputs or inputs that are corroborated by market data - Level 3: Unobservable inputs that are not corroborated by market data The fair value of notes payable was $5,881,033 and $4,324,892 as of March 31, 2021 and March 31, 2020, respectively. Net Loss per Common Share Basic net loss per common share is calculated by dividing the net loss, after deducting preferred dividends, by the weighted average number of common shares outstanding during the period, without consideration of the potentially dilutive effects of converting stock options or restricted stock purchase rights outstanding. Diluted net loss per common share is calculated by dividing the net loss by the weighted average number of common shares outstanding during the period and the potential dilutive effects of stock options or restricted stock purchase rights outstanding during the period determined using the treasury stock method. In periods in which the Company reports a net loss, diluted net loss per share is the same as basic net loss per share since dilutive common shares are not assumed to have been issued, as their effect is anti-dilutive. Income Taxes The Company accounts for income taxes under the asset and liability method, which requires, among other things, that deferred income taxes be provided for temporary differences between the tax bases of the Company’s assets and liabilities and their financial statement reported amounts. Under this method, deferred tax assets and liabilities are determined on the basis of the differences between the financial statements and tax basis of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in income in the period that includes the enactment date. A valuation allowance is recorded by the Company when it is more likely than not that some portion or all of a deferred tax asset will not be realized. In making such a determination, management considers all available positive and negative evidence, including future reversals of existing taxable temporary differences, projected future taxable income, and ongoing prudent and feasible tax planning strategies in assessing the amount of the valuation allowance. When the Company establishes or reduces the valuation allowance against its deferred tax assets, its provision for income taxes will increase or decrease, respectively, in the period such determination is made. Additionally, the Company recognizes the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities based on the technical merits of the position. The tax benefit recognized in the financial statements for a particular tax position is based on the largest benefit that is more likely than not to be realized upon settlement. Accordingly, the Company establishes reserves for uncertain tax positions. The Company has not recognized interest or penalties in its statement of operations and comprehensive loss since inception. Non-controlling Interests The Company’s non-controlling interests represented interests in RMR Aggregates, Inc. (“RMRA”) not owned by the Company. The Company evaluates whether non-controlling interests are subject to redemption features outside of its control. The amounts reported for non-controlling interests on the Company’s Consolidated Statements of Operations represent the portion of income or losses not attributable to the Company. On December 3, 2019, an accredited investor owning 5,263 shares of RMRA common stock elected to convert its common stock of RMRA into 166,667 shares of RMI Class B common stock, pursuant to an Equity Conversion Agreement between the accredited investor, RMRA and RMI. Upon conversion, RMRA became a wholly owned subsidiary of RMI. Discontinued Operations In April 2020, the Company began the shutdown and closing of operations located in Wellington, Colorado comprising substantially all the operations of RMR Logistics and the Logistics segment. The closing of the Wellington location was substantially complete in June 2020. Substantially all of the mobile equipment was sold at auction in August and December of 2020, at a loss of approximately $898,000. Auction proceeds received was approximately $1,351,000 and was used to pay down debt. Carrying amounts of major classes of assets and liabilities included in discontinued operations are comprised of the following as of: March 31, 2021 2020 Cash $ — $ 1,800 Accounts Receivable — 45,287 Fixed Assets — 2,384,877 Goodwill — 237,977 Other noncurrent assets 5,000 5,000 Total assets held for sale $ 5,000 $ 2,674,941 Accounts payable and accrued liabilities $ 23,853 $ 75,634 Debt 400,000 2,287,569 Total liabilities held for sale $ 423,853 $ 2,363,203 Major line items comprising net loss from discontinued operations are comprised of the following: Years Ended March 31, 2021 2020 Revenue $ 122,665 $ 1,006,679 Cost of goods sold (199,004) (922,255) (76,339) 84,424 Loss on Sales of Fixed Assets (887,670) (78,176) Selling, general and administrative (including depreciation and amortization) (371,044) (480,673) Interest expense, net (58,477) (110,511) Net loss from discontinued operations $ (1,393,530) $ (584,936) Recent Accounting Pronouncements From time to time, new accounting pronouncements are issued by the FASB or other standard setting bodies that the Company adopts as of the specified effective date. The Company is an emerging growth company, as defined in the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”). Under the JOBS Act, emerging growth companies can delay adopting new or revised accounting standards issued subsequent to the enactment of the JOBS Act until such time as those standards apply to private companies. The Company may use this extended transition period for complying with certain new or revised accounting standards that have different effective dates for public and private companies until the earlier of the date that it is (i) no longer an emerging growth company or (ii) affirmatively and irrevocably opt out of the extended transition period provided in the JOBS Act. As a result, these financial statements may not be comparable to companies that comply with the new or revised accounting pronouncements as of public company effective dates. In June 2016, the FASB issued ASU 2016-13, Financial Instruments - Credit Losses (Topic 326) Measurement of Credit Losses on Financial Instruments (“ASU 2016-13”). The main objective of ASU 2016-13 is to provide financial statement users with more decision-useful information about the expected credit losses on financial instruments and other commitments to extend credit held by a reporting entity at each reporting date. To achieve this objective, the amendments in ASU 2016-13 replace the incurred loss impairment methodology in current U.S. GAAP with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates. ASU 2016-13 is effective for “smaller reporting companies” (as defined by the Securities and Exchange Commission) for fiscal years beginning after December 15, 2022, including interim periods within those years, and must be adopted under a modified retrospective method approach. Entities may adopt ASU 2016-13 earlier as of the fiscal years beginning after December 15, 2018, including interim periods within those years. The Company is currently evaluating the provisions of this guidance and assessing its impact on the Company’s financial statements and disclosures and does not believe this standard will have a material impact on the Company’s financial statements and disclosures. In November 2019, the FASB issued ASU 2019-11, “Codification Improvements to Topic 326, Financial Instruments—Credit Losses” (“ASU 2019-11”). In May 2019, the FASB issued ASU 2019-05, “Financial Instruments—Credit Losses (Topic 326): Targeted Transition Relief.” In April 2019, the FASB issued ASU 2019-04, “Codification Improvements to Topic 326, Financial Instruments—Credit Losses, Topic 815, Derivatives and Hedging, and Topic 825, Financial Instruments.” In November 2018, the FASB issued ASU 2018-19, “Codification Improvements to Topic 326, Financial Instruments—Credit Losses.” These updates provide an option to irrevocably elect to measure certain individual financial assets at fair value instead of amortized cost and provide additional clarification and implementation guidance on certain aspects of the previously issued ASU 2016-13 and have the same effective date and transition requirements as ASU 2016-13. The effect of a prospective transition approach is to maintain the same amortized cost basis before and after the date of adoption. ASU 2016-13 is effective for the Company for annual periods beginning after December 15, 2022, including interim periods within those fiscal years. The Company is currently evaluating the effects the adoption of ASU 2019-11 will have on its consolidated financial statements and disclosures. In December 2019, the FASB issued ASU 2019-12, Income Taxes (Topic 740) Simplifying the Accounting for Income Taxes (“ASU 2019-12”). The amendments in ASU 2019-12 simplify various aspects related to accounting for income taxes by removing certain exceptions contained in Topic 740 and also clarifies and amends existing guidance in Topic 740 to improve consistent application. ASU 2019-12 is effective for public business entities beginning after December 15, 2020, including interim periods within those years, and early adoption is permitted. The Company adopted the ASU on April, 1, 2020. Adoption of the standards is not expected to have a material impact on the Company’s Consolidated Balance Sheet, Statements of Operation, and Statements of Cash Flows.

INVENTORY

INVENTORY	12 Months Ended
INVENTORY	Mar. 31, 2021
INVENTORY
INVENTORY	3. INVENTORY Inventory, for which there was none as of March 31, 2021, is valued at the lower of cost (average) or market. March 31, 2020 Blasted Rock $ 2,316 Packaging 7,204 Total $ 9,520

PROPERTY, PLANT AND EQUIPMENT

PROPERTY, PLANT AND EQUIPMENT	12 Months Ended
PROPERTY, PLANT AND EQUIPMENT	Mar. 31, 2021
PROPERTY, PLANT AND EQUIPMENT
PROPERTY, PLANT AND EQUIPMENT	4. PROPERTY, PLANT AND EQUIPMENT The following summarizes the Company’s property, plant and equipment as of: March 31, 2021 2020 Recoverable Limestone $ 1,477,469 $ 1,477,470 Mill Equipment 1,229,988 1,273,395 Mining Equipment 336,934 336,934 Mobile Equipment 844,664 813,975 Other 78,973 78,972 Total Fixed Assets 3,968,028 3,980,746 Less: Accumulated Depreciation (1,295,367) (1,007,525) Property, plant and equipment, net $ 2,672,661 $ 2,973,221 Years Depreciation rate Mill Equipment 3 – 15 6.7% - 33.3 % Mining Equipment 2 – 15 6.7% - 50.0 % Mobile Equipment 5 – 12 8.3% - 20.0 % Office Equipment 2 – 3 33.3% - 50.0 %

NOTES PAYABLE

NOTES PAYABLE	12 Months Ended
NOTES PAYABLE	Mar. 31, 2021
NOTES PAYABLE.
NOTES PAYABLE	5. NOTES PAYABLE On July 24, 2020, Rail Land Company executed a Term Loan Promissory Note, primarily secured by the underlying property of the Rail Park (“Secured Promissory Note”), with a private lender for $2,500,000 . The Secured Promissory Note matures on July 31, 2021, and accrues interest at per annum. RMI is a guarantor of the Secured Promissory Note. On March 5, 2021, Rail Land Company refinanced the Secured Promissory Note and executed a note that provides for a total credit facility of $12,189,000. The refinanced Secured Promissory Note remains secured by underlying property of the Rail Park and RMI remains a guarantor. The maturity date of the refinanced Secured Promissory Note is March 5, 2022, and accrues interest at 12% per annum. The terms of the refinanced Secured Promissory Note provides for a mandatory principal reduction in the event of a sale or lease of any lot that is part of the Rail Park. Such mandatory repayment equals 50% of net sales price of any lot sold or, 50% of any net lease payments received for any lot leased. The refinanced Secured Promissory Note provides for a release fee wherein, in addition to mandatory principal reduction upon the sale of lots, a release fee equal to 5% of gross proceeds from the sale of lots, or 10% of gross annual lease payment for lots leased, will be payable, up to a maximum of $2,250,000, in exchange for the private lender releasing the lien on the respective sold or leased lot. The refinanced Secured Promissory Note provides for the option to extend the maturity date of the refinanced Secured Promissory Note for up to twelve months On September 9, 2020, Company, executed the standard loan documents required for securing a loan (the “EIDL Loan”) from the United States Small Business Administration (the “SBA”) under its Economic Injury Disaster Loan (“EIDL”) assistance program in light of the impact of the COVID-19 pandemic on the Company’s business. The principal amount of the EIDL Loan is $150,000, with proceeds to be used for working capital purposes. Interest on the EIDL Loan accrues at the rate of 3.75% per annum and installment payments, including principal and interest, are due monthly beginning twelve months from the date of the EIDL Loan in the amount of $731. The balance of principal and interest is payable thirty years from the date of the promissory note. In connection with the EIDL Loan, the Company executed the EIDL Loan documents, which include the SBA Secured Disaster Loan Note, dated September 9, 2020, the Loan Authorization and Agreement, dated September 9, 2020, and the Security Agreement, dated September 9, 2020, each between the SBA and the Company. In April and June 2020, the Company executed two unsecured note agreements with an investor totaling $1,000,000. The unsecured notes are carried net of original issue discount (10%), which is being amortized on a straight-line basis, which approximates the effective interest method. In December 2020, the same investor executed an unsecured note with the Company in the amount of $400,000. The note is carried net of original issue discount (3.75%) and was repaid in January 2021. In March 2020, the federal government passed the Coronavirus Aid, Relief, and Security Act (the "CARES Act"), which provided among other things the creation of the Paycheck Protection Plan ("PPP"), which is sponsored and administered by the U.S. Small Business Administration ("SBA"). On April 20, 2020, the Company executed a loan agreement (the "PPP Loan") under the PPP, evidenced by promissory notes, with Simmons Bank ("Simmons"), providing for $438,500 in proceeds, which was funded to the Company on April 24, 2020. In June 2020, the Paycheck Protection Program Flexibility Act of 2020 (the "PPPFA") was signed into law and established the payment dates in the event that amounts borrowed under the PPP are not forgiven. The PPP Loans mature April 20, 2022, but may be forgiven subject to the terms of the PPP and approval by the SBA. The Company recorded the PPP Loan as a debt obligation and accrues interest over the term of the PPP Loan. The interest rate on the PPP Loan is 1.00%. The PPP Loan is unsecured and contains customary events of default relating to, among other things, payment defaults, making materially false and misleading representations to the SBA or Simmons, or breaching the terms of the PPP Loan. The occurrence of an event of default may result in the repayment of all amounts outstanding, collection of all amounts owing from the Company, or filing suit and obtaining judgment against the Company. Under the PPPFA, monthly payments of principal and interest commence on the later of 10 months following the "covered period" (as defined in the PPPFA) or the date that Simmons notifies the Company that the SBA has notified Simmons that all or a portion of the PPP Loan has not been forgiven. In May 2021, the Company submitted its applications to the SBA for forgiveness of the PPP Loans. As of June 30, 2021, the PPP Loan principal and accrued interest are classified as noncurrent in the Condensed Consolidated Balance Sheets. In June 2021, the Company received formal notification in the form of a letter dated May 25, 2021, from Simmons that the SBA approved the Company’s PPP Loan forgiveness applications for the Company’s Loan in the amount of $438,500 (including accrued interest). The Company will account for the debt forgiveness during its fiscal first quarter of 2022 and will recognize a gain on extinguishment of debt (other income) in the amount of $438,500 in the Consolidated Statements of Operations in the respective quarter. On April 26, 2019 RMR Logistics entered into an asset purchase agreement with H2K, LLC, a Colorado Limited liability company (“the seller”). Pursuant to the agreement which RMR Logistics acquired the sellers trucking assets. As a result of this acquisition RMR Logistics entered into a Term loan for $1,800,000. The loan matures on April 26, 2026 and accrues interest of 5.64% and is classified under long term liabilities, note payable, net of discount. Subsequent to the date of this filing, certain assets acquired in the sale were sold and used to pay down the term loan. On April 4, 2019 RMI entered into a Senior Unsecured Promissory Note with Bienville Capital Partners, LP, a New York based investment firm for $1,000,000. The note accrued to $1,250,000 at maturity on April 4, 2020. Subsequent to the date of this filing, the note was paid off with proceeds from an issuance of preferred stock. March 31, Effective 2021 2020 Interest Rate Maturity Date Equipment Loan $ 122,248 $ 191,530 2.10% - 6.30% August 25, 2021 - January 22, 2023 Secured promissory note 3,582,183 — 12.00% March 5, 2022 Senior unsecured note — 1,247,268 25.00% April 4, 2020 Term loan — 1,297,014 4.52% July 21, 2020 Unsecured notes 1,250,424 967,856 10.00% April 3, 2021 - June 30, 2021 Promissory notes 337,678 — 1.09% January 1, 2025 Lines of credit — 621,224 5.750% May 6, 2020 Promissory notes (PPP loan) 438,500 — 1.00% April 20, 2022 Secured disaster loan (SBA) 150,000 — 3.75% September 9, 2050 5,881,033 4,324,892 Unamortized debt issuance cost (54,892) (30,669) 5,826,141 4,294,223 Discontinued operations (400,000) (2,287,569) Less: current portion (4,474,082) (1,756,654) Debt due after one year $ 952,059 $ 250,000

TRANSACTIONS WITH RELATED PARTI

TRANSACTIONS WITH RELATED PARTIES	12 Months Ended
TRANSACTIONS WITH RELATED PARTIES	Mar. 31, 2021
TRANSACTIONS WITH RELATED PARTIES
TRANSACTIONS WITH RELATED PARTIES	6. TRANSACTIONS WITH RELATED PARTIES On October 15, 2014, RMR IP (now known as RMR Logistics, Inc. (RMRL)), the Company’s subsidiary, entered into consulting agreements with each of Gregory Dangler, who is our current President, and Chad Brownstein, who is our current Chief Executive Officer, pursuant to which each of Mr. Dangler and Brownstein would provide services related to their roles as executive officers of the Company. The Company has accrued $1,311,250 for unpaid officers’ compensation expense in accordance with such consulting agreements through March 31, 2021. Under the terms of each consulting agreement, each consultant shall serve as an executive officer to the Company and receive monthly compensation of $35,000. The consulting agreements may be terminated by either party for breach or upon thirty days prior written notice. On October 15, 2014, RMRL entered into consulting agreements with each of Principio Management LLC, which holds 9,499,657 shares of Class A Common Stock of the Company (26.55%), and 77727111, LLC, is the owner of 10,791,701 shares of Class A Common Stock of the Company (30.16%), relating to advisory services provided by each of these entities. Mr. Dangler is the sole owner of Principio Management LLC and Mr. Brownstein is the sole owner of 77727111, LLC. On January 31, 2020 the consulting agreement October 15, 2014 between Chad Brownstein and the Company was terminated. On January 31, 2020 the board resolved to pay Chad Brownstein monthly compensation of $35,000 a month for his services as Non-Executive Board Chairman. On January 31, 2020 the Company entered into an employment agreement with Chad Brownstein for his Non-Executive services provided to the Company. The employment contract may be terminated at any time.

SHAREHOLDERS' EQUITY

SHAREHOLDERS' EQUITY	12 Months Ended
SHAREHOLDERS' EQUITY	Mar. 31, 2021
SHAREHOLDERS' EQUITY
SHAREHOLDERS' EQUITY	7. SHAREHOLDERS’ EQUITY Preferred Stock The Company has authorized 50,000,000 shares of preferred stock for issuance. In April 2021, the Board of Directors of the Company authorized 118.47 shares as Series A Preferred Stock and designated 48.27 as Series A-1 Convertible Preferred Stock, designated 19.45 as Series A-2 Convertible Preferred Stock, and designated 50.75 as Series A-3 Convertible Preferred Stock (collectively referred to as “Series A Preferred Stock”). The Series A Preferred Stock is senior, with respect to dividend rights and to rights upon any voluntary or involuntary liquidation, dissolution or winding up of the Company (each, a "Liquidation Event") in preference and priority to the Class A Common Stock and Class B Common Stock of the Company. Voting Rights Series A Preferred Stock is entitled to vote on all matters submitted to a vote of the stockholders of the Company together with the holders of Class B Common Stock and is entitled to that number of votes equal to the number of shares of Class B Common Stock into which the holder's shares of Series A Preferred Stock could then be converted. Dividends Series A-1 Preferred Stock and Series A-2 Preferred Stock, accrue dividends at the rate per annum of $8,000 (“Accruing Dividends”), subject to appropriate adjustment in the event of any stock dividend, stock split, combination or other similar recapitalization with respect to the Series A Preferred Stock, whether or not declared, and shall be cumulative. The Company shall not declare, pay or set aside any dividends on shares of any other class or series of capital stock of the Company (other than dividends on shares of Class B Common Stock payable in shares of Class B Common Stock) unless the holders of the Series A-1 Preferred Stock and Series A-2 Preferred Stock then outstanding shall first receive, or simultaneously receive, a dividend on each outstanding share of Series A-1 Preferred Stock and Series A- 2 Preferred Stock in an amount at least equal to the sum of (i) the amount of the aggregate Accruing Dividends then accrued on such share of Series A-1 Preferred Stock or Series A-2 Preferred Stock (as applicable) and not previously paid and (ii) in the case of a dividend on Class B Common Stock or any class or series that is convertible into Class B Common Stock, that dividend per share of Series A-1 Preferred Stock or Series A-2 Preferred Stock (as applicable) as would equal the product of (l) the dividend payable on each share of such class or series determined, if applicable, as if all shares of such class or series had been converted into Class B Common Stock and (2) the number of shares of Class B Common Stock issuable upon conversion of a share of Series A-I Preferred Stock or Series A-2 Preferred Stock (as applicable), in each case calculated on the record date for determination of holders entitled to receive such dividend. Series A-3 Preferred Stock does not accrue dividends. Liquidation Preference In the event of any Liquidation Event, the holders of shares of Series A Preferred Stock then outstanding shall be entitled to be paid out of the assets of the Company available for distribution to its stockholders, and in the event of a Deemed Liquidation Event (as defined below), the holders of shares of Series A Preferred Stock then outstanding shall be entitled to be paid out of the consideration payable to stockholders in such Deemed Liquidation Event or out of the available proceeds, as applicable, before any payment shall be made to the holders of Common Stock. A Deemed Liquidation Event is defined as a merger or consolidation in which a change of control of the Company has occurred or the sale, lease, transfer, exclusive license or other disposition, in a single transaction or series of related transactions, by the Company or any subsidiary of the Company of all or substantially all the assets of the Company and its subsidiaries taken as a whole. Conversion Series A Preferred Stock is convertible, at the option of the holder, into a number of shares of Class B Common Stock determined by dividing (i) the sum of the Series A Original Issue Price and all then-unpaid Accruing Dividends by (ii) the respective conversion price in effect at the time of conversion. The Series A-1 Preferred Stock conversion price is In the event of an underwritten public offering, public uplist, or qualified equity issuance of at least $10,000,000 in gross proceeds and a minimum price per share of $25.00 for the Company's Common Stock (“Qualified Offering”), Series A Preferred Stock shall automatically be converted into such number of fully paid and non-assessable shares of Class B Common Stock at the then effective conversion rate as noted above. Common Stock The Company has authorized 2,100,000,000 shares of common stock for issuance, including 2,000,000,000 shares of Class A Common Stock and 100,000,000 shares of Class B Common Stock. At March 31, 2021 and March 31, 2020, the Company had 35,785,858 and 4,687,332 shares issued and outstanding , and 35,785,858 and 4,840,919 shares issued and outstanding of Class A Common Stock and Class B Common Stock, respectively. The holders of Class A Common Stock have the right to vote on all matters on which stockholders have the right to vote. The holders of Class B Common Stock have the right to vote solely on matters where the vote of such holders is explicitly required under Nevada law. The holders of Class A Common Stock and Class B Common stock have equal distribution rights, provided that distributions in securities shall be made in either identical securities or securities with similar voting characteristics. The holders of Class A Common Stock and Class B Common Stock are entitled to receive identical per-share consideration upon a merger, conversion or exchange of the Company with another entity, and have equal rights upon a dissolution, liquidation or winding-up of the Company

SHARE-BASED COMPENSATION

SHARE-BASED COMPENSATION	12 Months Ended
SHARE-BASED COMPENSATION	Mar. 31, 2021
SHARE-BASED COMPENSATION
SHARE-BASED COMPENSATION	8. SHARE-BASED COMPENSATION The RMR Industrials, Inc. 2015 Equity Incentive Plan (the “2015 Plan”) authorizes the issuance of up to 30% of the outstanding shares of Common Stock at any time pursuant to awards made by the Company’s Board of Directors. As of March 31, 2021, there were 1,010,680 shares still available for future issuance under the 2015 Plan. Stock Options The Company grants stock options to certain employees that give them the right to acquire our Class B common stock under the 2015 Plan. The exercise price of options granted is equal to the closing price per share of our stock at the date of grant. The nonqualified options vest at a rate of 33% on each of the first three anniversaries of the grant date provided that the award recipient continues to be employed by us through each of those vesting dates and expire ten years from the date of grant Stock Option Activity Weighted Grant Date Average Weighted Remaining Aggregate Stock Average Contractual Intrinsic Options Exercise Price Life (in Years) Value (1) Outstanding at April 1, 2020 200,000 $ 6.34 8.9 $ — Granted — Exercised — Forfeited — Expired — Outstanding at March 31, 2021 200,000 $ 6.34 8.9 $ — Vested and expected to vest March 31, 2021 — Exercisable at March 31, 2021 200,000 $ 6.34 8.9 $ — Stock Awards On February 26, 2015, our Board of Directors and our stockholders approved and adopted the “2015 Plan”. The Plan permits us to grant a variety of forms of awards, including stock options, stock appreciation rights, restricted stock, restricted stock units, performance shares, performance units and other stock-based awards, to allow us to adapt our incentive compensation program to meet our needs. The number of shares of our common stock that may be issued under the 2015 Plan to employees, directors and/or consultants in such awards is 2,404,354 shares as of March 31, 2021. Our Board of Directors currently serves as the administrator of the 2015 Plan. As of March 31, 2021, 1,393,674 shares have been issued under the 2015 Plan. During the year ended March 31, 2021 the Company granted 508,756 restricted shares of Class B Common Stock, with an aggregate grant date fair value of approximately $12.7 million, to employees, directors and contractors. The restricted shares vest ratably over a three or four-year vesting period, subject to continued service. During the year ended March 31, 2021, 384,000 restricted shares of common stock were forfeited by employees.

INCOME TAXES

INCOME TAXES	12 Months Ended
INCOME TAXES	Mar. 31, 2021
INCOME TAXES
INCOME TAXES	9. INCOME TAXES There is no provision for income taxes because the Company has incurred operating losses since inception and has a full valuation allowance on its deferred tax asset. As of March 31, 2021 and 2020, the Company has concluded that it is more likely than not that the Company may not realize the benefit of its deferred tax assets due to losses generated and uncertainties surrounding its ability to generate future taxable income. Accordingly, the net deferred tax assets have been fully reserved. Net deferred tax assets consist of the following components: March 31, 2021 2020 Deferred tax asset: Net operating loss carryforwards $ 19,599,269 $ 17,509,131 Stock compensation 1,559,685 2,105,587 Fixed assets 75,941 639,918 Intangible assets 24,119 115,350 Accrued liabilities (35,520) (896,782) State taxes - current 5,320 5,018 Other 1,959 26,082 Deferred tax liabilities: — State taxes - deferred (214,625) (214,625) Valuation allowance (21,016,148) (19,289,679) Net deferred tax asset $ — $ — The income tax provision differs from the amount of income tax determined by applying the U.S. federal and state income statutory tax rates to pretax loss from continuing operations as follows: March 31, 2021 Tax computed at federal statutory rate $ (1,590,249) State tax, net of federal tax benefit (143,940) Debt issuance cost amortization 7,510 Other 210 Change in valuation allowance 1,726,469 Net provision for income taxes $ — The Company has accumulated federal net operating loss carryovers of approximately $43.7 million and state accumulated net operating loss carryover of approximately $43.3 million as of March 31, 2021, which are available to reduce future taxable income. Due to the change in ownership provisions of the Tax Reform Act of 1986, net operating loss carry forwards for federal income tax reporting purposes may be subject to annual limitations. A change in ownership may limit the utilization of the net operating loss carry forwards in future years. The federal and state tax loss carryforwards begin to expire in 2033.

SEGMENT REPORTING

SEGMENT REPORTING	12 Months Ended
SEGMENT REPORTING	Mar. 31, 2021
SEGMENT REPORTING
SEGMENT REPORTING	10. SEGMENT REPORTING For the twelve months ended March 31, 2021, the Company has two reportable segments: Aggregates and Rail Park. The Company had three reportable segments for the twelve months ended March 31, 2020: Aggregates, Logistics and Rail Park. The Aggregates segment produces chemical grade lime for use in the aggregates market. The Logistics segment was shut down in April 2020, and its results of operations have been included in discontinued operations. The Rail Park segment consists of land under development to provide a rail terminal and services facility and currently has no operational activity. The Rail Park will require significant future capital investment before the segment starts generating recurring revenue. The Company expects that the Rail Park development will commence in the first half of calendar year 2021. The Aggregates segment has a major customer, a mining operation (“Mine”), that accounted for approximately 84% of Aggregates segment revenue for the year ended March 31, 2021. As of March 31, 2021, the Mine accounted for approximately 43% ; and, a construction company accounted for approximately 36% of Aggregate segment accounts receivable balance, respectively. The accounting policies of the segments are the same as those described in the summary of significant accounting policies. The Company evaluates performance based on profit or loss from operations before income taxes not including nonrecurring gains and losses. The Company accounts for intersegment sales and transfers as if the sales or transfers were to third parties, that is, at current market prices. The Company’s reportable segments are strategic business units that offer different products and services. They are managed separately because each business requires different technology and marketing strategies. All assets are held, and all operating activities occur within the United States. Year ended March 31, 2021 Aggregates Rail Park Other/Corporate Total Revenue $ 680,225 $ — $ — $ 680,225 Gross profit (18,862) — — (18,862) Selling, general and administrative 1,458,313 — 10,674,448 12,132,761 Property, plant and equipment 2,628,983 — 43,678 2,672,661 Land under development — 6,916,724 12,906 6,929,630 The March 31, 2020 segment information has not been retroactively adjusted to reflect the impact of discontinued operations. Year ended March 31, 2020 Aggregates Logistics Rail Park Other Total Revenues from external customers $ 1,077,665 $ 1,392,200 $ — $ — $ 2,469,865 Intersegment revenues (379,074) 379,074 — — — Interest revenue 1,202 — — 79 1,202 Interest expense 5,089 115,305 — 249,099 369,493 Depreciation, depletion and amortization 293,076 339,811 — 3,228 636,115 Segment loss 1,587,055 859,497 28,316 10,073,082 12,547,950 Segment assets 3,820,728 2,800,238 6,787,710 11,705 13,420,381

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
COMMITMENTS AND CONTINGENCIES	Mar. 31, 2021
COMMITMENTS AND CONTINGENCIES.
COMMITMENTS AND CONTINGENCIES	11. COMMITMENTS AND CONTINGENCIES The Company has certain non-cancelable operating leases for office locations that are accounted for as liabilities under FASB ASU 2016-02, Leases: (Topic 842). recorded a right Future minimum lease commitments under these non-cancelable operating leases at March 31, 2021, are as follows: Lease Commitment 2022 $ 241,868 Thereafter — Total minimum lease payments $ 241,868 Accrued Reclamation Liability The Company incurs reclamation liabilities as part of its mining activities. Quarry activities require the removal and relocation of significant levels of overburden to access materials of usable quantity and quality. The same overburden material is used to reclaim depleted mine areas, which must be sloped to a certain gradient and seeded to prevent erosion in the future. Reclamation methods and requirements can differ depending on the quarry and state rules and regulations in existence for certain locations. As of March 31, 2021, the Company’s undiscounted reclamation obligations totaled approximately $366,000. This obligation is expected to be settled within the next 20 years. Reclamation costs resulting from the normal use of long-lived assets, either owned or leased, are recognized over the period the asset is in use. The obligation, which cannot be reduced by estimated offsetting cash flows, is recorded at fair value as a liability at the obligating event date and is accreted through charges to selling, general and administrative costs, inclusive of depreciation, depletion and amortization. The fair value is based on our estimate of the cost required for a third party to perform the legally required reclamation tasks including a reasonable profit margin. This fair value is also capitalized as part of the carrying amount of the underlying asset and depreciated over the estimated useful life of the asset. The mining reclamation reserve is based on management’s estimate of future cost requirements to reclaim property at its operating quarry site. Costs are estimated in current dollars and inflated until the expected time of payment using a future estimated inflation rate and then discounted back to present value using a credit-adjusted, risk-free rate on obligations of similar maturity adjusted to reflect our credit rating. The Company will review reclamation liabilities at least every three years for a revision to the cost or a change in the estimated settlement date. Additionally, reclamation liabilities are reviewed in the period in which a triggering event occurs that would result in either a revision to the cost or a change in the estimated settlement date. Examples of events that would trigger a change in the cost include a new reclamation law or amendment to an existing mineral lease. Examples of events that would cause a change in the estimated settlement date include the acquisition of additional reserves or early or delayed closure of a site. Any affect to earnings from cost revisions is included in cost of revenue. A reconciliation of the carrying amount of our accrued reclamation liabilities is as follows: Balance at April 1, 2020 $ 108,701 Liabilities incurred — Accretion expense 10,892 Balance at March 31, 2021 $ 119,593

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	12 Months Ended
SUBSEQUENT EVENTS	Mar. 31, 2021
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS	12. SUBSEQUENT EVENTS Land Under Development In 2018, the Company formed the Rocky Mountain Rail Park Metropolitan District (“District”) for the purpose of financing public improvements related to the development of approximately 620 acres including open space and other right-of-way areas and providing ongoing operations and maintenance services related to the public improvements. Public improvements are generally, any part or all of the public improvements authorized to be planned, designed, acquired, constructed, installed, relocated, redeveloped, operated, maintained and/or financed, including necessary and appropriate landscaping, appurtenances and real property to effect such improvements, as generally described in the Colorado Special District Act (Title 32, Article 1, Colorado Revised Statutes) and as may be necessary to serve the future taxpayers and inhabitants of the District, as determined by the District Board, including public improvements within and without the District’s boundaries. In April 2021, the District closed on its Limited Tax General Obligation and Water Revenue Bonds, Series 2021A and 2021B (“Tax -Exempt Bonds”) raising total proceeds of approximately $65.2 million, $51.2 million of which will be directly used to fund the public improvements. The Tax -Exempt Bonds are an obligation of the District and not of the Company and will be repaid through ownership taxes and other enterprise revenues collected by the District from property owners residing in the District. Water Rights In September 2021, the Company sold its water rights attributable to the Land under development to the District for a sales price of approximately $5.9 million. The proceeds were received on September 30, 2021, resulting in the recording of a gain on sales of assets of approximately $5.8 million, which was recognized in the consolidated statement of operation for the quarter ended September 30, 2021.

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	Mar. 31, 2021
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates, judgments, and assumptions that impact the reported amounts of assets, liabilities, and expenses, and disclosure of contingent assets and liabilities in the financial statements and accompanying notes. Actual results could materially differ from those estimates. Management considers many factors in selecting appropriate financial accounting policies and controls, and in developing the estimates and assumptions that are used in the preparation of these financial statements. Management must apply significant judgment in this process. In addition, other factors may affect estimates, including: expected business and operational changes, sensitivity and volatility associated with the assumptions used in developing estimates, and whether historical trends are expected to be representative of future trends. The estimation process may yield a range of potentially reasonable estimates of the ultimate future outcomes and management must select an amount that falls within that range of reasonable estimates. Although these estimates are based on the Company’s knowledge of current events and actions it may undertake in the future, actual results may ultimately materially differ from those estimated amounts and assumptions used in the preparation of the financial statements.
Revenue Recognition	Revenue Recognition As of January 1, 2018, we adopted ASU NO. 2014-09, “Revenue from Contracts with Customers” (Topic 606). The Company recognizes revenues upon delivery of goods to the customer at which time the Company’s performance obligation is satisfied at an amount that the Company expects to be entitled to in exchange for those goods in accordance with the five step analysis outlined in Topic 606: (i) identify the contract with the customer, (ii) identify the performance obligations in the contract, (iii) determine the transaction price, (iv) allocate the transaction price to the performance obligations, and (v) recognize revenue when (or as) performance obligations are satisfied. Revenue includes product sales of limestone, aggregate materials and other transportation charges to customers, net of discounts, allowances or taxes, as applicable.
Segment Reporting	Segment Reporting Operating segments are identified as components of an enterprise about which separate discrete financial information is available for evaluation by the chief operating decision-maker in making decisions regarding resource allocation and assessing performance. As of March 31, 2021, the Company views its operations and manages its business as two operating segments, Aggregates and Rail Park development.
Cash and Cash Equivalents	Cash and Cash Equivalents The Company considers all highly liquid securities with original maturities of three months or less at the date of purchase to be cash equivalents. As of March 31, 2021, the Company had cash of $1,621,822 and no cash equivalents. The Company may occasionally maintain cash balances in excess of amounts insured by the Federal Deposit Insurance Corporation (“FDIC”). The amounts are held with major financial institutions and are monitored by management to mitigate credit risk.
Restricted Cash	Restricted Cash As of March 31, 2021, the Company has $185,325 in restricted cash that is contractually obligated to be held on behalf of the Bureau of Land management to be held for the rehabilitation costs of the Mid-Continent Quarry and conclusion of the mining at this location.
Accounts Receivable	Accounts Receivable Accounts receivables are recorded at the invoiced amount and do not bear interest. The Company analyzes collectability based on historical payment patterns and macroeconomic factors which may affect the customers’ industry. Past due balances over 90 days based on payment terms are reviewed individually for collectability. The Company does not have any off-balance sheet credit exposure related to its customers. Concentration of credit risk is limited to certain customers to whom we make substantial sales. To reduce risk, we routinely assess the financial strength of our most significant customers, using standard credit risk evaluation methods with reference to publicly available and customer supplied information, and monitor the amounts owed and take appropriate action when necessary. As a result, we believe that accounts receivable credit risk exposure is limited.
Inventory	Inventory Inventories are valued at the lower of cost or market. Cost is determined by the weighted average method.
Property, Plant and Equipment	Property, Plant and Equipment Property, plant and equipment are recorded at cost. Significant improvements are capitalized, while maintenance and repair expenses are charged to operations as incurred. The straight-line method of depreciation is used for substantially all of the assets for financial reporting purposes. Depletion of acquired mineral properties is determined pursuant to a unit-of-extraction method which provides for depletion of such costs over the productive life of the mineral properties. The unit-of-extraction rate is determined by computing the production for the period as a percentage of total estimated and recoverable limestone as of that period. Significant judgement is involved in the determination of the estimate of total recoverable limestone in the unit-of-extraction method. Our internal engineering estimates of total estimated and recoverable limestone is a key component in determination of the unit-of-extraction rate. Our estimates of the recoverable limestone may change, possibly in the near term, resulting in changes to depletion rates in future periods. During the years ended March 31, 2021 and 2020, depletion of mineral properties was approximately $6,700 and $9,000, respectively. We are considered an “exploration stage” company under the U.S. Securities and Exchange Commission (“SEC”) Industry Guide 7 as such the Company expenses any development costs as incurred.
Land Under Development	Land Under Development Land under development is recorded at cost. Significant improvements are capitalized. These costs relate to the ongoing development of the Rail Park.
Lease Obligations	Lease Obligations On April 1, 2019, we adopted FASB ASU 2016-02, Leases: (Topic 842) (“ASU 2016-02”), For leases in which the Company is the lessee, the Company determined that the guidance has a material impact as the Company has three operating leases for office space. Two of these leases have greater than 12 months remaining on the term of these leases at the date of the adoption of this guidance and as such the Company recorded a right of use asset and a lease liability of $491,111 at the date of adoption. Leases with a term of 12 months or less will be accounted for similar to existing guidance for operating leases.
Deposits	Deposits Deposits consist of a security deposit in connection with various office leases.
Impairment of Long-Lived Assets	Impairment of Long-Lived Assets The Company evaluates its long-lived assets for impairment when events or changes in circumstances indicate that the related carrying amounts may not be recoverable. Asset impairment is considered to exist if the total estimated future cash flows on an undiscounted basis are less than the carrying amount of the asset. Any impairment losses are measured and recorded based on discounted estimated future cash flows and are charged to income on the Company’s consolidated statements of operations. In estimating future cash flows, assets are grouped at the lowest level for which there are identifiable cash flows that are largely independent of future cash flows from other asset groups. The Company’s estimates of future cash flows are based on numerous assumptions, including expected commodity prices, production levels, capital requirements and estimated salvage values. It is possible that actual future cash flows will be significantly different than the estimates, as actual future quantities of recoverable material, future commodity prices, production levels and costs and capital are each subject to significant risks and uncertainties. As of March 31, 2021, the Company’s mineral resources do not meet the definition of proven or probable reserves or value beyond proven or probable reserves and any potential revenue has been excluded from the cash flow assumptions. Accordingly, recoverability of the long-lived assets’ capitalized cost is based primarily on estimated salvage values or alternative future uses.
Fair Value Measurements	Fair Value Measurements The fair value of a financial instrument is the amount that could be received upon the sale of an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Financial assets are marked to bid prices and financial liabilities are marked to offer prices. Fair value measurements do not include transaction costs. A fair value hierarchy is used to prioritize the quality and reliability of the information used to determine fair values. Categorization within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. The fair value hierarchy is defined into the following three categories: - Level 1: Quoted market prices in active markets for identical assets or liabilities - Level 2: Observable market-based inputs or inputs that are corroborated by market data - Level 3: Unobservable inputs that are not corroborated by market data The fair value of notes payable was $5,881,033 and $4,324,892 as of March 31, 2021 and March 31, 2020, respectively.
Income Taxes	Income Taxes The Company accounts for income taxes under the asset and liability method, which requires, among other things, that deferred income taxes be provided for temporary differences between the tax bases of the Company’s assets and liabilities and their financial statement reported amounts. Under this method, deferred tax assets and liabilities are determined on the basis of the differences between the financial statements and tax basis of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in income in the period that includes the enactment date. A valuation allowance is recorded by the Company when it is more likely than not that some portion or all of a deferred tax asset will not be realized. In making such a determination, management considers all available positive and negative evidence, including future reversals of existing taxable temporary differences, projected future taxable income, and ongoing prudent and feasible tax planning strategies in assessing the amount of the valuation allowance. When the Company establishes or reduces the valuation allowance against its deferred tax assets, its provision for income taxes will increase or decrease, respectively, in the period such determination is made. Additionally, the Company recognizes the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities based on the technical merits of the position. The tax benefit recognized in the financial statements for a particular tax position is based on the largest benefit that is more likely than not to be realized upon settlement. Accordingly, the Company establishes reserves for uncertain tax positions. The Company has not recognized interest or penalties in its statement of operations and comprehensive loss since inception.
Non-controlling Interests	Non-controlling Interests The Company’s non-controlling interests represented interests in RMR Aggregates, Inc. (“RMRA”) not owned by the Company. The Company evaluates whether non-controlling interests are subject to redemption features outside of its control. The amounts reported for non-controlling interests on the Company’s Consolidated Statements of Operations represent the portion of income or losses not attributable to the Company. On December 3, 2019, an accredited investor owning 5,263 shares of RMRA common stock elected to convert its common stock of RMRA into 166,667 shares of RMI Class B common stock, pursuant to an Equity Conversion Agreement between the accredited investor, RMRA and RMI. Upon conversion, RMRA became a wholly owned subsidiary of RMI. Discontinued Operations In April 2020, the Company began the shutdown and closing of operations located in Wellington, Colorado comprising substantially all the operations of RMR Logistics and the Logistics segment. The closing of the Wellington location was substantially complete in June 2020. Substantially all of the mobile equipment was sold at auction in August and December of 2020, at a loss of approximately $898,000. Auction proceeds received was approximately $1,351,000 and was used to pay down debt. Carrying amounts of major classes of assets and liabilities included in discontinued operations are comprised of the following as of: March 31, 2021 2020 Cash $ — $ 1,800 Accounts Receivable — 45,287 Fixed Assets — 2,384,877 Goodwill — 237,977 Other noncurrent assets 5,000 5,000 Total assets held for sale $ 5,000 $ 2,674,941 Accounts payable and accrued liabilities $ 23,853 $ 75,634 Debt 400,000 2,287,569 Total liabilities held for sale $ 423,853 $ 2,363,203 Major line items comprising net loss from discontinued operations are comprised of the following: Years Ended March 31, 2021 2020 Revenue $ 122,665 $ 1,006,679 Cost of goods sold (199,004) (922,255) (76,339) 84,424 Loss on Sales of Fixed Assets (887,670) (78,176) Selling, general and administrative (including depreciation and amortization) (371,044) (480,673) Interest expense, net (58,477) (110,511) Net loss from discontinued operations $ (1,393,530) $ (584,936)
Recent Accounting Pronouncements	Recent Accounting Pronouncements From time to time, new accounting pronouncements are issued by the FASB or other standard setting bodies that the Company adopts as of the specified effective date. The Company is an emerging growth company, as defined in the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”). Under the JOBS Act, emerging growth companies can delay adopting new or revised accounting standards issued subsequent to the enactment of the JOBS Act until such time as those standards apply to private companies. The Company may use this extended transition period for complying with certain new or revised accounting standards that have different effective dates for public and private companies until the earlier of the date that it is (i) no longer an emerging growth company or (ii) affirmatively and irrevocably opt out of the extended transition period provided in the JOBS Act. As a result, these financial statements may not be comparable to companies that comply with the new or revised accounting pronouncements as of public company effective dates. In June 2016, the FASB issued ASU 2016-13, Financial Instruments - Credit Losses (Topic 326) Measurement of Credit Losses on Financial Instruments (“ASU 2016-13”). The main objective of ASU 2016-13 is to provide financial statement users with more decision-useful information about the expected credit losses on financial instruments and other commitments to extend credit held by a reporting entity at each reporting date. To achieve this objective, the amendments in ASU 2016-13 replace the incurred loss impairment methodology in current U.S. GAAP with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates. ASU 2016-13 is effective for “smaller reporting companies” (as defined by the Securities and Exchange Commission) for fiscal years beginning after December 15, 2022, including interim periods within those years, and must be adopted under a modified retrospective method approach. Entities may adopt ASU 2016-13 earlier as of the fiscal years beginning after December 15, 2018, including interim periods within those years. The Company is currently evaluating the provisions of this guidance and assessing its impact on the Company’s financial statements and disclosures and does not believe this standard will have a material impact on the Company’s financial statements and disclosures. In November 2019, the FASB issued ASU 2019-11, “Codification Improvements to Topic 326, Financial Instruments—Credit Losses” (“ASU 2019-11”). In May 2019, the FASB issued ASU 2019-05, “Financial Instruments—Credit Losses (Topic 326): Targeted Transition Relief.” In April 2019, the FASB issued ASU 2019-04, “Codification Improvements to Topic 326, Financial Instruments—Credit Losses, Topic 815, Derivatives and Hedging, and Topic 825, Financial Instruments.” In November 2018, the FASB issued ASU 2018-19, “Codification Improvements to Topic 326, Financial Instruments—Credit Losses.” These updates provide an option to irrevocably elect to measure certain individual financial assets at fair value instead of amortized cost and provide additional clarification and implementation guidance on certain aspects of the previously issued ASU 2016-13 and have the same effective date and transition requirements as ASU 2016-13. The effect of a prospective transition approach is to maintain the same amortized cost basis before and after the date of adoption. ASU 2016-13 is effective for the Company for annual periods beginning after December 15, 2022, including interim periods within those fiscal years. The Company is currently evaluating the effects the adoption of ASU 2019-11 will have on its consolidated financial statements and disclosures. In December 2019, the FASB issued ASU 2019-12, Income Taxes (Topic 740) Simplifying the Accounting for Income Taxes (“ASU 2019-12”). The amendments in ASU 2019-12 simplify various aspects related to accounting for income taxes by removing certain exceptions contained in Topic 740 and also clarifies and amends existing guidance in Topic 740 to improve consistent application. ASU 2019-12 is effective for public business entities beginning after December 15, 2020, including interim periods within those years, and early adoption is permitted. The Company adopted the ASU on April, 1, 2020. Adoption of the standards is not expected to have a material impact on the Company’s Consolidated Balance Sheet, Statements of Operation, and Statements of Cash Flows.

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	12 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	Mar. 31, 2021
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Schedule of major classes of assets, liabilities and net income (loss) from discontinued operations	Carrying amounts of major classes of assets and liabilities included in discontinued operations are comprised of the following as of: March 31, 2021 2020 Cash $ — $ 1,800 Accounts Receivable — 45,287 Fixed Assets — 2,384,877 Goodwill — 237,977 Other noncurrent assets 5,000 5,000 Total assets held for sale $ 5,000 $ 2,674,941 Accounts payable and accrued liabilities $ 23,853 $ 75,634 Debt 400,000 2,287,569 Total liabilities held for sale $ 423,853 $ 2,363,203 Major line items comprising net loss from discontinued operations are comprised of the following: Years Ended March 31, 2021 2020 Revenue $ 122,665 $ 1,006,679 Cost of goods sold (199,004) (922,255) (76,339) 84,424 Loss on Sales of Fixed Assets (887,670) (78,176) Selling, general and administrative (including depreciation and amortization) (371,044) (480,673) Interest expense, net (58,477) (110,511) Net loss from discontinued operations $ (1,393,530) $ (584,936)

INVENTORY (Tables)

INVENTORY (Tables)	12 Months Ended
INVENTORY (Tables)	Mar. 31, 2021
INVENTORY
Schedule of inventory	March 31, 2020 Blasted Rock $ 2,316 Packaging 7,204 Total $ 9,520

PROPERTY, PLANT AND EQUIPMENT (

PROPERTY, PLANT AND EQUIPMENT (Tables)	12 Months Ended
PROPERTY, PLANT AND EQUIPMENT (Tables)	Mar. 31, 2021
PROPERTY, PLANT AND EQUIPMENT
Schedule of property, plant and equipment	The following summarizes the Company’s property, plant and equipment as of: March 31, 2021 2020 Recoverable Limestone $ 1,477,469 $ 1,477,470 Mill Equipment 1,229,988 1,273,395 Mining Equipment 336,934 336,934 Mobile Equipment 844,664 813,975 Other 78,973 78,972 Total Fixed Assets 3,968,028 3,980,746 Less: Accumulated Depreciation (1,295,367) (1,007,525) Property, plant and equipment, net $ 2,672,661 $ 2,973,221
Schedule of useful life and depreciation rate of property plant and equipment	Years Depreciation rate Mill Equipment 3 – 15 6.7% - 33.3 % Mining Equipment 2 – 15 6.7% - 50.0 % Mobile Equipment 5 – 12 8.3% - 20.0 % Office Equipment 2 – 3 33.3% - 50.0 %

NOTES PAYABLE (Tables)

NOTES PAYABLE (Tables)	12 Months Ended
NOTES PAYABLE (Tables)	Mar. 31, 2021
NOTES PAYABLE.
Schedule of notes payable	March 31, Effective 2021 2020 Interest Rate Maturity Date Equipment Loan $ 122,248 $ 191,530 2.10% - 6.30% August 25, 2021 - January 22, 2023 Secured promissory note 3,582,183 — 12.00% March 5, 2022 Senior unsecured note — 1,247,268 25.00% April 4, 2020 Term loan — 1,297,014 4.52% July 21, 2020 Unsecured notes 1,250,424 967,856 10.00% April 3, 2021 - June 30, 2021 Promissory notes 337,678 — 1.09% January 1, 2025 Lines of credit — 621,224 5.750% May 6, 2020 Promissory notes (PPP loan) 438,500 — 1.00% April 20, 2022 Secured disaster loan (SBA) 150,000 — 3.75% September 9, 2050 5,881,033 4,324,892 Unamortized debt issuance cost (54,892) (30,669) 5,826,141 4,294,223 Discontinued operations (400,000) (2,287,569) Less: current portion (4,474,082) (1,756,654) Debt due after one year $ 952,059 $ 250,000

SHARE-BASED COMPENSATION (Table

SHARE-BASED COMPENSATION (Tables)	12 Months Ended
SHARE-BASED COMPENSATION (Tables)	Mar. 31, 2021
SHARE-BASED COMPENSATION
Share-based compensation, stock options, activity	Weighted Grant Date Average Weighted Remaining Aggregate Stock Average Contractual Intrinsic Options Exercise Price Life (in Years) Value (1) Outstanding at April 1, 2020 200,000 $ 6.34 8.9 $ — Granted — Exercised — Forfeited — Expired — Outstanding at March 31, 2021 200,000 $ 6.34 8.9 $ — Vested and expected to vest March 31, 2021 — Exercisable at March 31, 2021 200,000 $ 6.34 8.9 $ —

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
INCOME TAXES (Tables)	Mar. 31, 2021
INCOME TAXES
Schedule of deferred tax assets and liabilities	Net deferred tax assets consist of the following components: March 31, 2021 2020 Deferred tax asset: Net operating loss carryforwards $ 19,599,269 $ 17,509,131 Stock compensation 1,559,685 2,105,587 Fixed assets 75,941 639,918 Intangible assets 24,119 115,350 Accrued liabilities (35,520) (896,782) State taxes - current 5,320 5,018 Other 1,959 26,082 Deferred tax liabilities: — State taxes - deferred (214,625) (214,625) Valuation allowance (21,016,148) (19,289,679) Net deferred tax asset $ — $ —
Schedule of effective income tax rate reconciliation	The income tax provision differs from the amount of income tax determined by applying the U.S. federal and state income statutory tax rates to pretax loss from continuing operations as follows: March 31, 2021 Tax computed at federal statutory rate $ (1,590,249) State tax, net of federal tax benefit (143,940) Debt issuance cost amortization 7,510 Other 210 Change in valuation allowance 1,726,469 Net provision for income taxes $ —

SEGMENT REPORTING (Tables)

SEGMENT REPORTING (Tables)	12 Months Ended
SEGMENT REPORTING (Tables)	Mar. 31, 2021
SEGMENT REPORTING
Schedule of segment reporting information	The Company’s reportable segments are strategic business units that offer different products and services. They are managed separately because each business requires different technology and marketing strategies. All assets are held, and all operating activities occur within the United States. Year ended March 31, 2021 Aggregates Rail Park Other/Corporate Total Revenue $ 680,225 $ — $ — $ 680,225 Gross profit (18,862) — — (18,862) Selling, general and administrative 1,458,313 — 10,674,448 12,132,761 Property, plant and equipment 2,628,983 — 43,678 2,672,661 Land under development — 6,916,724 12,906 6,929,630 The March 31, 2020 segment information has not been retroactively adjusted to reflect the impact of discontinued operations. Year ended March 31, 2020 Aggregates Logistics Rail Park Other Total Revenues from external customers $ 1,077,665 $ 1,392,200 $ — $ — $ 2,469,865 Intersegment revenues (379,074) 379,074 — — — Interest revenue 1,202 — — 79 1,202 Interest expense 5,089 115,305 — 249,099 369,493 Depreciation, depletion and amortization 293,076 339,811 — 3,228 636,115 Segment loss 1,587,055 859,497 28,316 10,073,082 12,547,950 Segment assets 3,820,728 2,800,238 6,787,710 11,705 13,420,381

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Tables)	12 Months Ended
COMMITMENTS AND CONTINGENCIES (Tables)	Mar. 31, 2021
COMMITMENTS AND CONTINGENCIES.
Schedule of future minimum lease commitments under non-cancelable operating leases	Future minimum lease commitments under these non-cancelable operating leases at March 31, 2021, are as follows: Lease Commitment 2022 $ 241,868 Thereafter — Total minimum lease payments $ 241,868
Schedule of carrying amount of our accrued reclamation liabilities	Balance at April 1, 2020 $ 108,701 Liabilities incurred — Accretion expense 10,892 Balance at March 31, 2021 $ 119,593

ORGANIZATION (Details)

ORGANIZATION (Details)	Oct. 12, 2016item	Nov. 17, 2014USD ($)shares	Jul. 31, 2018a	Feb. 01, 2018a
Organization [Line Items]
Number of BLM unpatented placer mining claims \| item	41
Rocky Mountain Resource Holdings Inc [Member]
Organization [Line Items]
Number of BLM unpatented placer mining claims \| item	41
Rocky Mountain Resource Holdings Inc [Member] \| Online Yearbook [Member]
Organization [Line Items]
Shares acquired \| shares		5,200,000
Percentage of issued and outstanding shares of common stock		69.06%
Shares aggregate purchase price \| $		$ 357,670
Rail Land Company, LLC [Member] \| Property Located in Bennett, Colorado [Member]
Organization [Line Items]
Area of a real estate property acquired \| a			150	470
Area of a real estate property \| a			620

SUMMARY OF SIGNIFICANT ACCOUN_4

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details)	12 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details)	Mar. 31, 2021USD ($)
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Balance at beginning of period	$ 108,701
Accretion expense	10,892
Balance at end of period	$ 119,593

SUMMARY OF SIGNIFICANT ACCOUN_5

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Additional Information (Details)	Dec. 03, 2019shares	Apr. 01, 2019lease	Dec. 31, 2020USD ($)	Mar. 31, 2021USD ($)segment	Mar. 31, 2020USD ($)shares
Number of operating segments \| segment				2
Cash equivalents				$ 0
Fair value of notes payable				5,881,033	$ 4,324,892
RMR Logistics and Logistics Segment [Member] \| Discontinued Operations, Disposed of by Sale [Member]
Loss on disposition on sale			$ 898,000
Proceeds received			$ 1,351,000
RMR Aggregates Shares [Member] \| Class B Common Stock
Conversion of stock, shares issued \| shares	166,667
Common Stock \| Class B Common Stock
Conversion of stock, shares issued \| shares					166,667
Common Stock \| RMR Aggregates Shares [Member]
Conversion of Stock, Shares Converted \| shares	5,263
Accounting Standards Update 2016-02 [Member] \| Revision of Prior Period, Adjustment [Member]
Number of operating leases \| lease		3
Number of operating leases with greater than 12 months \| lease		2
Mineral Properties [Member]
Depletion of mineral properties				$ 6,700	$ 9,000

SUMMARY OF SIGNIFICANT ACCOUN_6

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Discontinued Operations (Details) - USD ($)	1 Months Ended	12 Months Ended
	Dec. 31, 2020	Mar. 31, 2021	Mar. 31, 2020
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Total assets held for sale		$ 5,000	$ 2,674,941
Net loss from discontinued operations
Net loss from discontinued operations		(1,393,530)	(584,936)
RMR Logistics and Logistics Segment [Member] \| Discontinued Operations, Disposed of by Sale [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Cash			1,800
Accounts receivable			45,287
Fixed assets			2,384,877
Goodwill			237,977
Other noncurrent assets		5,000	5,000
Total assets held for sale		5,000	2,674,941
Accounts payable and accrued liabilities		23,853	75,634
Debt		400,000	2,287,569
Total liabilities held for sale		423,853	2,363,203
Proceeds received	$ 1,351,000
Net loss from discontinued operations
Revenue		122,665	1,006,679
Cost of goods sold		(199,004)	(922,255)
Gross profit (loss)		(76,339)	84,424
Loss on sales of fixed assets		(887,670)	(78,176)
Selling, general and administrative (including depreciation and amortization)		(371,044)	(480,673)
Interest expense, net		(58,477)	(110,511)
Net loss from discontinued operations		$ (1,393,530)	$ (584,936)

INVENTORY (Details)

INVENTORY (Details)	Mar. 31, 2020USD ($)
INVENTORY
Blasted Rock	$ 2,316
Packaging	7,204
Total	$ 9,520

PROPERTY, PLANT AND EQUIPMENT_2

PROPERTY, PLANT AND EQUIPMENT (Details) - USD ($)	12 Months Ended
PROPERTY, PLANT AND EQUIPMENT (Details) - USD ($)	Mar. 31, 2021	Mar. 31, 2020
Property, Plant and Equipment [Line Items]
Total	$ 3,968,028	$ 3,980,746
Less: Accumulated Depreciation	(1,295,367)	(1,007,525)
Property, plant and equipment, net	2,672,661	2,973,221
Recoverable Limestone [Member]
Property, Plant and Equipment [Line Items]
Total	1,477,469	1,477,470
Mill Equipment [Member]
Property, Plant and Equipment [Line Items]
Total	$ 1,229,988	1,273,395
Mill Equipment [Member] \| Minimum [Member]
Property, Plant and Equipment [Line Items]
Useful life (Years)	3 years
Depreciation rate	6.70%
Mill Equipment [Member] \| Maximum [Member]
Property, Plant and Equipment [Line Items]
Useful life (Years)	15 years
Depreciation rate	33.30%
Mining Equipment [Member]
Property, Plant and Equipment [Line Items]
Total	$ 336,934	336,934
Mining Equipment [Member] \| Minimum [Member]
Property, Plant and Equipment [Line Items]
Useful life (Years)	2 years
Depreciation rate	6.70%
Mining Equipment [Member] \| Maximum [Member]
Property, Plant and Equipment [Line Items]
Useful life (Years)	15 years
Depreciation rate	50.00%
Mobile Equipment [Member]
Property, Plant and Equipment [Line Items]
Total	$ 844,664	813,975
Mobile Equipment [Member] \| Minimum [Member]
Property, Plant and Equipment [Line Items]
Useful life (Years)	5 years
Depreciation rate	8.30%
Mobile Equipment [Member] \| Maximum [Member]
Property, Plant and Equipment [Line Items]
Useful life (Years)	12 years
Depreciation rate	20.00%
Office Equipment [Member] \| Minimum [Member]
Property, Plant and Equipment [Line Items]
Useful life (Years)	2 years
Depreciation rate	33.30%
Office Equipment [Member] \| Maximum [Member]
Property, Plant and Equipment [Line Items]
Useful life (Years)	3 years
Depreciation rate	50.00%
Other [Member]
Property, Plant and Equipment [Line Items]
Total	$ 78,973	$ 78,972

NOTES PAYABLE (Details)

Mar. 05, 2021USD ($)

Sep. 09, 2020USD ($)

Apr. 20, 2020USD ($)

Apr. 26, 2019USD ($)

Jun. 30, 2021USD ($)

Dec. 31, 2020USD ($)

Jun. 30, 2020USD ($)item

Apr. 30, 2020USD ($)item

Jun. 30, 2021USD ($)

Mar. 31, 2021USD ($)

Jul. 24, 2020

Mar. 31, 2020USD ($)

Apr. 04, 2019USD ($)

Notes payable gross

$ 5,881,033

$ 4,324,892

Notes payable

5,826,141

4,294,223

Secured promissory note [Member]

Notes payable gross

337,678

Asset Purchase Agreement [Member] | H2K, LLC [Member] | Term loan [Member]

Principal value

$ 1,800,000

Debt Instrument, Maturity Date

Apr. 26,
2026

Interest rate (as a percent)

5.64%

Equipment Loan [Member]

Notes payable gross

122,248

$ 191,530

Promissory notes (PPP loan) [Member]

Interest rate (as a percent)

1.00%

Proceeds from notes payable

$ 438,500

Loan amount forgiven

$ 438,500

Gain on extinguishment of debt

$ 438,500

Notes payable gross

438,500

Lines of credit [Member]

Interest rate (as a percent)

12.00%

Total credit facility

$ 12,189,000

Repayment of principal percentage of net sales price of any lot

50.00%

Percentage of lease payment received

50.00%

Percentage of release fee on gross proceeds

5.00%

Percentage of release fee on gross annual lease

10.00%

Extension term of debt instrument

12 months

Payment for extension of debt

$ 121,890

Increase in release fee

250,000

Release fee payment

450,000

Notes payable gross

$ 621,224

Lines of credit [Member] | Maximum [Member]

Release Fee

$ 2,250,000

1,800,000

Economic Injury Disaster Loan [Member]

Interest rate (as a percent)

3.75%

Debt instrument term

30 years

Proceeds from notes payable

$ 150,000

Beginning term of principal and interest payments in debt

12 months

Notes payable gross

$ 731

Term Loan Promissory Note [Member]

Principal value

2,500,000

Interest rate (as a percent)

10.00%

Unsecured notes [Member]

Principal value

$ 400,000

$ 1,000,000

Notes payable gross

$ 1,250,424

$ 967,856

Number of agreements with investor | item

Original discount percentage

3.75%

10.00%

Unsecured notes [Member] | Bienville Capital Partners, LP [Member]

Principal value

$ 1,000,000

Notes payable

$ 1,250,000

NOTES PAYABLE - Schedule of Not

NOTES PAYABLE - Schedule of Notes Payable (Details) - USD ($)	Mar. 31, 2021	Mar. 31, 2020
Debt Instrument [Line Items]
Notes payable gross	$ 5,881,033	$ 4,324,892
Unamortized debt issuance cost	(54,892)	(30,669)
Notes Payable, Total	5,826,141	4,294,223
Discontinued operations	(400,000)	(2,287,569)
Less: current portion	(4,474,082)	(1,756,654)
Debt due after one year	952,059	250,000
Equipment Loan [Member]
Debt Instrument [Line Items]
Notes payable gross	122,248	191,530
Secured promissory note [Member]
Debt Instrument [Line Items]
Notes payable gross	$ 337,678
Effective Interest Rate	1.09%
Senior unsecured note [Member]
Debt Instrument [Line Items]
Notes payable gross		1,247,268
Effective Interest Rate	25.00%
Term loan [Member]
Debt Instrument [Line Items]
Notes payable gross		1,297,014
Effective Interest Rate	4.52%
Unsecured notes [Member]
Debt Instrument [Line Items]
Notes payable gross	$ 1,250,424	967,856
Effective Interest Rate	10.00%
Lines of credit [Member]
Debt Instrument [Line Items]
Notes payable gross		$ 621,224
Effective Interest Rate	5.75%
Promissory notes (PPP loan) [Member]
Debt Instrument [Line Items]
Notes payable gross	$ 438,500
Effective Interest Rate	1.00%
Secured disaster loan (SBA) [Member]
Debt Instrument [Line Items]
Notes payable gross	$ 150,000
Effective Interest Rate	3.75%
Secured Promissory Note [Member]
Debt Instrument [Line Items]
Notes payable gross	$ 3,582,183
Effective Interest Rate	12.00%
Minimum [Member]
Debt Instrument [Line Items]
Effective Interest Rate	2.10%
Maximum [Member]
Debt Instrument [Line Items]
Effective Interest Rate	6.30%

TRANSACTIONS WITH RELATED PAR_2

TRANSACTIONS WITH RELATED PARTIES (Details) - USD ($)	Jan. 31, 2020	Oct. 15, 2014	Mar. 31, 2021
Related Party Transaction [Line Items]
Number of days prior written notice for termination of consulting agreements			30 days
Officer [Member]
Related Party Transaction [Line Items]
Officers' compensation			$ 35,000
Chief Executive Officer [Member]
Related Party Transaction [Line Items]
Accrued compensation expense			$ 1,311,250
Non Executive Board Chairman [Member]
Related Party Transaction [Line Items]
Officers' compensation	$ 35,000
Principio Management LLC [Member] \| Class A Common Stock
Related Party Transaction [Line Items]
Shares held by related party in company's subsidiary		9,499,657
Percentage of ownership interest held by related party in company's subsidiary		26.55%
77727111, LLC \| Class A Common Stock
Related Party Transaction [Line Items]
Shares held by related party in company's subsidiary		10,791,701
Percentage of ownership interest held by related party in company's subsidiary		30.16%

SHAREHOLDERS' EQUITY (Details)

SHAREHOLDERS' EQUITY (Details) - USD ($)	12 Months Ended
SHAREHOLDERS' EQUITY (Details) - USD ($)	Mar. 31, 2021	Mar. 31, 2020	Apr. 30, 2021
Preferred stock, shares authorized	50,000,000
Accrued dividends	$ 868,910	$ 140,033
Common Stock
Common stock, shares authorized	2,100,000,000	2,100,000,000
Common Stock \| Qualified Offering [Member]
Proceeds from issuance of common stock	$ 10,000,000
Share price	$ 25
Class A Common Stock
Common stock, shares authorized	2,000,000,000	2,000,000,000
Common stock, shares issued	35,785,858	35,785,858
Common stock, shares outstanding	35,785,858	35,785,858
Class B Common Stock
Proceeds from issuance of common stock	$ 750,000	$ 3,124,763
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	4,687,332	4,840,919
Common stock, shares outstanding	4,687,332	4,840,919
Series A Preferred Stock [Member]
Preferred stock, shares authorized			118.47
Series A-1 Preferred Stock
Preferred stock, shares authorized	50,000,000	50,000,000	48.27
Conversion price	$ 25
Proceeds from issuance of preferred shares	$ 0	$ 3,777,000
Series A-2 Preferred Stock
Preferred stock, shares authorized	50,000,000	50,000,000	19.45
Accrued dividends	$ 8,000
Conversion price	$ 21
Proceeds from issuance of preferred shares	$ 1,500,000	$ 0
Series A-3 Preferred Stock
Preferred stock, shares authorized	50,000,000	50,000,000	50.75
Conversion price	$ 15

SHARE-BASED COMPENSATION - Stoc

SHARE-BASED COMPENSATION - Stock Option Activity (Details) - USD ($)	12 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
SHARE-BASED COMPENSATION
Stock Option, Outstanding Beginning Balance \| shares	200,000
Stock Option, Granted \| shares	0
Stock Option, Exercised \| shares	0
Stock Option, Forfeited \| shares	0
Stock Option, Expired \| shares	0
Stock Option, Ending Balance \| shares	200,000	200,000
Stock Option, Vested and Expected to Vest \| shares	0
Stock Option, Exercisable \| shares	200,000
Grant Date Weighted Average Exercise Price, Outstanding Beginning Balance	$ 6.34
Grant Date Weighted Average Exercise Price, Outstanding Ending Balance	6.34	$ 6.34
Grant Date Weighted Average Exercise Price, Exercisable	$ 6.34
Weighted Average Remaining Contractual in Years, Outstanding Ending	8 years 10 months 24 days	8 years 10 months 24 days
Weighted Average Remaining Contractual in Years, Vested and expected to vest	0 years
Weighted Average Remaining Contractual in Years, Exercisable	8 years 10 months 24 days
Aggregate Intrinsic Value, Outstanding	$ 0
Aggregate Intrinsic Value, Exercisable	$ 0

SHARE-BASED COMPENSATION - Addi

SHARE-BASED COMPENSATION - Additional Information (Details) - USD ($) $ in Millions	Feb. 26, 2015	Mar. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross		0
2015 Equity Incentive Plan [Member]
Share-based compensation arrangement by share-based payment award, percentage of outstanding stock maximum		30.00%
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant		1,010,680
Share-based Compensation Arrangement by Share-based Payment Award, Shares Issued in Period	2,404,354	1,393,674
Non Qualified Options [Member]
Share-based compensation arrangement by share-based payment award, award vesting rights, percentage		33.00%
Share-based compensation arrangement by share-based payment award, expiration period		10 years
Restricted Stock [Member] \| 2015 Equity Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period		384,000
Restricted Stock [Member] \| Minimum [Member] \| 2015 Equity Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period		3 years
Restricted Stock [Member] \| Maximum [Member] \| 2015 Equity Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period		4 years
Class B Common Stock \| Restricted Stock [Member] \| 2015 Equity Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross		508,756
Share Based Compensation Arrangement By Share Based Payment Award Other than Options Granted Total Grant Date Fair Value		$ 12.7

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($)	Mar. 31, 2021	Mar. 31, 2020
Deferred tax asset:
Net operating loss carryforwards	$ 19,599,269	$ 17,509,131
Stock compensation	1,559,685	2,105,587
Fixed assets	75,941	639,918
Intangible assets	24,119	115,350
Accrued liabilities	(35,520)	(896,782)
State taxes - current	5,320	5,018
Other	1,959	26,082
Deferred tax liabilities:
State taxes - deferred	(214,625)	(214,625)
Valuation allowance	(21,016,148)	(19,289,679)
Net deferred tax asset	$ 0	$ 0

INCOME TAXES - Statutory Tax Ra

INCOME TAXES - Statutory Tax Rates (Details) - USD ($)	12 Months Ended
INCOME TAXES - Statutory Tax Rates (Details) - USD ($)	Mar. 31, 2021	Mar. 31, 2020
INCOME TAXES
Tax computed at federal statutory rate	$ (1,590,249)
State tax, net of federal tax benefit	(143,940)
Debt issuance cost amortization	7,510
Other	210
Change in valuation allowance	1,726,469
Net provision for income taxes	$ 0	$ (861)

INCOME TAXES - Additional Infor

INCOME TAXES - Additional Information (Details) - USD ($)	12 Months Ended
INCOME TAXES - Additional Information (Details) - USD ($)	Mar. 31, 2021	Mar. 31, 2020
Provision for income taxes	$ 0	$ (861)
Foreign Tax Authority [Member]
Operating loss carryforwards	43,700,000
State and Local Jurisdiction [Member]
Operating loss carryforwards	$ 43,300,000
Federal and State Tax Authority [Member]
Operating loss carryforwards expiration period	2033

SEGMENT REPORTING - Description

SEGMENT REPORTING - Description (Details) - segment	12 Months Ended
SEGMENT REPORTING - Description (Details) - segment	Mar. 31, 2021	Mar. 31, 2020
Segment Reporting Information [Line Items]
Number of reportable segments	2	3
Accounts Receivable [Member] \| Customer Concentration Risk [Member] \| Mining Operation [Member]
Segment Reporting Information [Line Items]
Concentration risk, percentage	43.00%
Accounts Receivable [Member] \| Customer Concentration Risk [Member] \| Construction Company [Member]
Segment Reporting Information [Line Items]
Concentration risk, percentage	36.00%
Revenue Benchmark [Member] \| Customer Concentration Risk [Member] \| Mining Operation [Member]
Segment Reporting Information [Line Items]
Concentration risk, percentage	84.00%

SEGMENT REPORTING - Reportable

SEGMENT REPORTING - Reportable Segments (Details) - USD ($)	12 Months Ended
SEGMENT REPORTING - Reportable Segments (Details) - USD ($)	Mar. 31, 2021	Mar. 31, 2020
Segment Reporting Information [Line Items]
Revenue	$ 680,225	$ 1,084,113
Depreciation, depletion and amortization	304,755	523,762
Segment assets	15,972,306	13,909,096
Gross profit	(18,862)	128,212
Property, plant and equipment	2,672,661	2,973,221
Land under development	6,929,630	6,800,616
Operating Segments [Member]
Segment Reporting Information [Line Items]
Revenue	680,225	2,469,865
Interest revenue		1,202
Interest expense		369,493
Depreciation, depletion and amortization		636,115
Segment loss		12,547,950
Segment assets		13,420,381
Gross profit	(18,862)
Selling, general and administrative.	12,132,761
Property, plant and equipment	2,672,661
Land under development	6,929,630
Operating Segments [Member] \| Aggregates
Segment Reporting Information [Line Items]
Revenue	680,225	1,077,665
Interest revenue		1,202
Interest expense		5,089
Depreciation, depletion and amortization		293,076
Segment loss		1,587,055
Segment assets		3,820,728
Gross profit	(18,862)
Selling, general and administrative.	1,458,313
Property, plant and equipment	2,628,983
Operating Segments [Member] \| Logistics
Segment Reporting Information [Line Items]
Revenue		1,392,200
Interest expense		115,305
Depreciation, depletion and amortization		339,811
Segment loss		859,497
Segment assets		2,800,238
Operating Segments [Member] \| Rail Park
Segment Reporting Information [Line Items]
Segment loss		28,316
Segment assets		6,787,710
Land under development	6,916,724
Operating Segments [Member] \| Other
Segment Reporting Information [Line Items]
Interest revenue		79
Interest expense		249,099
Depreciation, depletion and amortization		3,228
Segment loss		10,073,082
Segment assets		11,705
Selling, general and administrative.	10,674,448
Property, plant and equipment	43,678
Land under development	$ 12,906
Intersegment Eliminations [Member] \| Aggregates
Segment Reporting Information [Line Items]
Revenue		(379,074)
Intersegment Eliminations [Member] \| Logistics
Segment Reporting Information [Line Items]
Revenue		$ 379,074

COMMITMENTS AND CONTINGENCIES -

COMMITMENTS AND CONTINGENCIES - Additional Information (Details)	Apr. 01, 2019USD ($)lease	Mar. 31, 2021USD ($)	Mar. 31, 2020USD ($)
Property, Plant and Equipment [Line Items]
Undiscounted reclamation liability		$ 366,000
Reclamation liability settlement term		20 years
Reclamation liabilities review period		3 years
Lease liability		$ 241,868	$ 519,754
Right of use asset		$ 241,868	$ 519,754
Accounting Standards Update 2016-02 [Member] \| Revision of Prior Period, Adjustment [Member]
Property, Plant and Equipment [Line Items]
Number of operating leases \| lease	3
Number of operating leases with greater than 12 months \| lease	2
Accounting Standards Update 2016-02 [Member] \| Revision of Prior Period, Adjustment [Member] \| Two leases with greater than 12 months
Property, Plant and Equipment [Line Items]
Lease liability	$ 491,111
Right of use asset	$ 491,111

COMMITMENTS AND CONTINGENCIES_2

COMMITMENTS AND CONTINGENCIES (Details)	Mar. 31, 2021USD ($)
COMMITMENTS AND CONTINGENCIES.
2022	$ 241,868
Thereafter
Total minimum lease payments	$ 241,868

COMMITMENTS AND CONTINGENCIES_3

COMMITMENTS AND CONTINGENCIES - Schedule of Reconciliation of Carrying Amount of Accrued Reclamation Liabilities (Details)	12 Months Ended
	Mar. 31, 2021USD ($)
COMMITMENTS AND CONTINGENCIES.
Balance at beginning of period	$ 108,701
Accretion expense	10,892
Balance at end of period	$ 119,593

SUBSEQUENT EVENTS (Details)

SUBSEQUENT EVENTS (Details) $ in Millions	Sep. 30, 2021USD ($)	Sep. 30, 2021USD ($)	Apr. 30, 2021USD ($)	Mar. 31, 2018a
Subsequent Event [Line Items]
Area of land under development \| a				620
Subsequent Event
Subsequent Event [Line Items]
Total proceeds			$ 65.2
Proceeds used in funding public improvements			$ 51.2
Sale price		$ 5.9
Gain on sale of asset	$ 5.8