Rapid Therapeutic Science Laboratories (RTSL) 10-K 29 Jun 20 2020 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Mar. 31, 2020	Jun. 29, 2020	Sep. 30, 2019
Details
Registrant CIK	0001575659
Fiscal Year End	--03-31
Registrant Name	Rapid Therapeutic Science Laboratories, Inc.
SEC Form	10-K
Period End date	Mar. 31, 2020
Tax Identification Number (TIN)	46-2111820
Number of common stock shares outstanding		160,156,000
Public Float			$ 71,400
Filer Category	Non-accelerated Filer
Current with reporting	Yes
Interactive Data Current	Yes
Voluntary filer	No
Well-known Seasoned Issuer	No
Shell Company	false
Small Business	true
Emerging Growth Company	true
Ex Transition Period	false
Entity File Number	000-55018
Entity Incorporation, State or Country Code	NV
Entity Address, Address Line One	5580 Peterson Ln., Suite 200
Entity Address, City or Town	Dallas
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	75240
City Area Code	800
Local Phone Number	497-6059
Amendment Flag	false
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	FY
Document Annual Report	true
Document Transition Report	false

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Mar. 31, 2020	Mar. 31, 2019
Current assets:
Cash	$ 136,215	$ 1,334
Inventory, net	5,873	0
Total current assets	142,088	1,334
Intangible assets:
Sublicense agreement, net	302,500	0
Total assets	444,588	1,334
Current liabilities:
Accounts payable, net	64,577	19,652
Equity subscription payable	90,000	0
Contract liabilities, net	32,000	0
Notes payable - related party	23,350	0
Notes payable - other	883,185	741,035
Accrued interest payable	400,720	209,140
Total current liabilities	1,493,832	969,827
Other liabilities:
Convertible notes payable	315,240	2,200,000
Total liabilities	1,809,072	3,169,827
Stockholders' deficit:
Preferred stock value	0	0
Common stock value	159,556	1,204
Additional paid in capital	2,414,718	144,477
Accumulated deficit	(3,601,419)	(2,976,835)
Treasury stock	(337,339)	(337,339)
Total stockholders' deficit	(1,364,484)	(3,168,493)
Total liabilities and stockholders' deficit	$ 444,588	$ 1,334

Consolidated Balance Sheets - P

Consolidated Balance Sheets - Parenthetical - USD ($)	Mar. 31, 2020	Mar. 31, 2019
Details
Accumulated amortization, Sublicense Agreement	$ 37,500
Preferred Stock, Par or Stated Value Per Share	$ 0	$ 0
Preferred Stock, Shares Authorized	100,000,000	100,000,000
Preferred Stock, Shares Issued	0	0
Preferred Stock, Shares Outstanding	0	0
Common Stock, Par or Stated Value Per Share	$ 0.001	$ 0.001
Common Stock, Shares Authorized	750,000,000	200,000,000
Common Stock, Shares, Outstanding	159,556,000	1,204,000

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($)	12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Details
Revenues	$ 9,139	$ 0
Cost of goods sold	7,155	0
Gross profit	1,984	0
Operating expenses:
General and administrative	397,487	169,690
Amortization expense	37,500	0
Total operating expenses	434,987	169,690
Other income (expense):
Interest expense	(191,581)	(180,531)
Gain on sale of Bitcoin	0	1,380
Total other income (expense)	(191,581)	(179,151)
Net (loss)	$ (624,584)	$ (348,841)
Net loss per share, basic and diluted	$ (0.01)	$ (0.29)
Weighted average shares outstanding, basic and diluted	60,024,614	1,204,000

Consolidated Statement of Stock

Consolidated Statement of Stockholders' Deficit - USD ($)	Common Stock	Additional Paid-in Capital	Retained Earnings	Treasury Stock	Total
Equity Balance at Mar. 31, 2018	$ 1,204	$ 101,477	$ (2,627,994)	$ (337,339)	$ (2,862,652)
Equity Balance, Shares at Mar. 31, 2018	1,204,000
Stock compensation expense	$ 0	43,000	0	0	43,000
Stock issued for sublicense agreement, value					0
Stock issued for conversion of notes payable, value					0
Net (loss)	$ 0	0	(348,841)	0	(348,841)
Equity Balance, Shares at Mar. 31, 2019	1,204,000
Equity Balance at Mar. 31, 2019	$ 1,204	144,477	(2,976,835)	(337,339)	(3,168,493)
Stock issued for sublicense agreement, value	$ 140,000	0	0	0	140,000
Stock issued for sublicense agreement, shares	140,000,000
Stock issued for conversion of notes payable, value	$ 15,652	2,019,108	0	0	$ 2,034,760
Stock issued for conversion of notes payable, shares	15,652,000				15,652,000
Stock issued in private placement, value	$ 1,100	73,900			$ 75,000
Stock issued in private placement, shares	1,100,000
Stock issued for services, value	$ 1,600	177,233	0	0	178,833
Stock issued services, shares	1,600,000
Net (loss)	$ 0	0	(624,584)	0	(624,584)
Equity Balance, Shares at Mar. 31, 2020	159,556,000
Equity Balance at Mar. 31, 2020	$ 159,556	$ 2,414,718	$ (3,601,419)	$ (337,339)	$ (1,364,484)

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Cash flows from operating activities:
Net (loss)	$ (624,584)	$ (348,841)
Adjustments to reconcile net loss to net cash provided by (used in) operations
Share-based compensation expense	178,833	43,000
Amortization expense	37,500	0
Changes in operating assets and liabilities:
Inventory	(5,873)	0
Accounts payable - other	44,925	8,102
Accounts payable - related party	0	(3,400)
Accrued interest payable	191,580	180,531
Contract liabilities	32,000	0
Other, net	(44,925)	13,945
Net cash flows used in operating activities	(190,544)	(106,663)
Cash flows from investing activities:
Additions to sublicense agreement	(155,075)	0
Net cash flows used in investing activities	(155,075)	0
Cash flows from financing activities:
Issuance of notes payable to related parties	315,500	95,700
Private offering of common stock	75,000	0
Proceeds from equity subscription	90,000	0
Net cash flows provided by financing activities	480,500	95,700
Net increase (decrease) in cash and cash equivalents	134,881	(10,963)
Cash and cash equivalents at beginning of period	1,334	12,297
Cash and cash equivalents at end of period	136,215	1,334
Supplemental cash flow data:
Cash paid for interest	0	0
Cash paid for income taxes	0	0
Non-Cash financing activities:
Stock issued for conversion of notes payable, value	2,034,760	0
Stock issued for sublicense agreement, value	140,000	0
Sublicense agreement, non-cash effect	140,000	0
Accounts payable for addition to sublicense agreement	$ 44,925	$ 0

General Organization and Busine

General Organization and Business	12 Months Ended
	Mar. 31, 2020
Notes
General Organization and Business	NOTE 1. General Organization and Business Rapid Therapeutic Science Laboratories, Inc. (“we”, “our” or the “Company”) was incorporated in the State of Nevada on February 22, 2013, originally under the name of PowerMedChairs, and is considered to be an emerging growth company under applicable federal securities laws. On June 2, 2017, the Company changed its name to Holly Brothers Pictures, Inc. On February 1, 2018, the Company acquired 100% of the equity interests in Power Blockchain, LLC (“Power Blockchain”) through an exchange agreement in a transaction that resulted in the transition to a planned new business of mining crypto-currency. Effective November 15, 2019, the Company exited from that business and adopted a new business strategy focused on developing potential commercial opportunities which will involve the rapid application of therapeutics using inhaler technology that the Company has sublicensed from a third party as a result of the execution of a sublicense agreement with the sublicensor on that date (see Note 4). In conjunction with the adoption of the new business strategy, the Company changed its name to Rapid Therapeutic Science Laboratories, Inc., effective January 13, 2020. At that time, the Company also commenced online sales of its inhaler products.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Mar. 31, 2020
Notes
Summary of Significant Accounting Policies	NOTE 2. Summary of Significant Accounting Policies Basis of Accounting The basis is United States generally accepted accounting principles. The accompanying consolidated financial statements include the accounts of the Company and its wholly-owned subsidiary, Power Blockchain, which is presently inactive. Principles of Consolidation The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiary. All intercompany accounts and transactions have been eliminated in consolidation. Cash and Cash Equivalents The Company considers all short-term investments with a maturity of three months or less at the date of purchase to be cash and cash equivalents. Earnings per Share The basic earnings (loss) per share is calculated by dividing the Company’s net income (loss) available to common shareholders by the weighted average number of common shares issued and outstanding during the year. The diluted earnings (loss) per share is calculated by dividing the Company’s net income (loss) available to common shareholders by the diluted weighted average number of shares outstanding during the year. The diluted weighted average number of shares outstanding is the basic weighted number of shares adjusted as of the first year for any potentially dilutive debt or equity. The Company has not issued any options or warrants or similar securities that are presently exercisable. Revenue Recognition We account for revenue from contracts with customers in accordance with FASB Accounting Standards Update ("ASU") No. 2014-09, "Revenue from Contracts with Customers (Topic 606)." The unit of account in Topic 606 is a performance obligation, which is a promise in a contract to transfer to a customer either a distinct good or service (or bundle of goods or services) or a series of distinct goods or services provided at a point in time or over a period of time. Topic 606 requires that a contract’s transaction price, which is the amount of consideration to which an entity expects to be entitled in exchange for transferring promised goods or services to a customer, is to be allocated to each performance obligation in the contract based on relative standalone selling prices and recognized as revenue when (point in time) or as (over time) the performance obligation is satisfied. Inventory Inventory as of March 31, 2020, consists of inhalers and related products and supplies delivered to a location near the Company’s offices, and held for online sale to retail customers. Inventory is stated at the lower of weighted average cost or market. Intangible Assets The Company amortizes the costs of any renewable license or sub-license agreements over the contractual terms of such renewable agreements. For any license or sub-license agreements which do not require any renewal payments to be made, the Company performs periodic assessments in order to determine whether there has been any impairment in the carrying value of such intangible assets (see Note 4). Income Taxes The provision for income taxes is the total of the current taxes payable and the net of the change in the deferred income taxes. Provision is made for the deferred income taxes where differences exist between the period in which transactions affect current taxable income and the period in which they enter into the determination of net income in the financial statements. A valuation allowance is provided for the amount of deferred assets that, based on available evidence, are not expected to be realized. Use of Estimates The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenue and expenses during the reporting period. Making estimates requires management to exercise significant judgment. It is at least reasonably possible that the estimate of the effect of a condition, situation or set of circumstances that existed at the date of the financial statements, which management considered in formulating its estimate could change in the near term due to one or more future confirming events. Accordingly, the actual results could differ significantly from estimates. Fair value of financial instruments Fair value estimates discussed herein are based upon certain market assumptions and pertinent information available to management as of March 2020 and 2019. The respective carrying value of certain on-balance-sheet financial instruments approximated their fair values. These financial instruments include cash and accounts payable. Fair values were assumed to approximate carrying values for cash and payables because they are short term in nature and their carrying amounts approximate fair values or they are payable on demand. Level 1: Level 2: Level 3: Subsequent Events Management has evaluated any subsequent events occurring in the period from March 31, 2020 through the date the financial statements were issued, to determine if disclosure in this report is warranted (see Note 13).

Going Concern Disclosure

Going Concern Disclosure	12 Months Ended
	Mar. 31, 2020
Notes
Going Concern Disclosure	NOTE 3. Going concern The Company's consolidated financial statements are prepared using the generally accepted accounting principles applicable to a going concern, which contemplates the realization of assets and liquidation of liabilities in the normal course of business. However, the Company has generated minimal revenues and has suffered recurring losses totaling $3,601,419 since inception. These factors, among others, indicate that there is substantial doubt about the Company’s ability to continue as a going concern within one year from the issuance date of this filing. In order to obtain the necessary capital to sustain operations, Management’s plans include, among other things, the possibility of pursuing new equity sales and/or making additional debt borrowings. There can be no assurances, however, that the Company will be successful in obtaining such additional financing. The accompanying consolidated financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts or amounts and classification of liabilities that might result from the outcome of this uncertainty.

Intangible Assets Disclosure

Intangible Assets Disclosure	12 Months Ended
	Mar. 31, 2020
Notes
Intangible Assets Disclosure	NOTE 4. Intangible Assets Effective November 15, 2019, the Company entered into a sublicense agreement with Texas MDI, Inc. (“TMDI”), a Texas corporation, (the "Agreement") granting the Company access to certain technology regarding the RxoidTM metered dose inhaler that TMDI has licensed from a third party. In conjunction with execution of the Agreement, the Company simultaneously issued a total of 140,000,000 shares of its Common Stock to TMDI, in consideration of the sublicense rights granted to the Company in this transaction. The Company recorded the acquisition of an intangible asset in the amount of $140,000 based on the par value of the shares issued. During the term of the Agreement, the Company is required to reimburse TMDI to the extent that TMDI is required to make any payments to the licensor, pursuant to its license agreement with a third party. Accordingly, the Company has an obligation to reimburse TMDI in the amount of $200,000 as a license fee covering the first two years of the Agreement. The Company has partially satisfied this obligation by making an equipment purchase on behalf of the licensor in the amount of $135,000, and has agreed to pay the remaining license fee of $44,925 in cash within a 24 month period (for which, the Company has recorded a liability for the unpaid portion of this amount in accounts payable as of March 31, 2020). The Company has recorded the entire $200,000 license fee as an intangible asset and is amortizing it to expense on a straight-line basis over a 24 month period (of which, $37,500 was amortized in the period from November 15, 2019 to March 31, 2020).

Notes Payable Disclosure

Notes Payable Disclosure	12 Months Ended
	Mar. 31, 2020
Notes
Notes Payable Disclosure	NOTE 5. Notes Payable As of March 31, 2020 and 2019, the Company had the following long-term debt obligations: March 31, 2020 2019 Convertible promissory notes issued to two accredited investors, maturing in 1 to 5 years, accruing interest at 5% per annum, convertible into common stock at $0.05 per share. $ 300,000 $ - Convertible promissory notes issued to former owners in acquisition of Power Blockchain, accruing interest at 5% per annum, principal repayments originally due in four equal installments on 2nd, 3rd, 4th and 5th anniversaries, convertible into common stock at $0.13 per share, with final maturity on February 1, 2023. 165,240 2,200,000 Other short term notes issued to various affiliates of the former owners of Power Blockchain for acquisition of Treasury Stock, computers and equipment, and working capital financing, at stated interest rates of 10%. 756,535 741,035 Total notes payable $ 1,221,775 $ 2,941,035 Future maturities of notes payable as of March 31, 2020 are as follows: Year ending March 31, 2021 $ 906,535 Year ending March 31, 2022 - Year ending March 31, 2023 165,240 Year ending March 31, 2024 150,000 Year ending March 31, 2025 - $ 1,221,775 Effective November 15, 2019, the following transactions took place in the Company’s notes payable: · · · The Company performed an analysis of both the newly issued convertible notes and the newly amended existing notes, which were formerly non-convertible, to determine whether there was a beneficial conversion feature and noted none.

Stockholders' Equity Disclosure

Stockholders' Equity Disclosure	12 Months Ended
	Mar. 31, 2020
Notes
Stockholders' Equity Disclosure	NOTE 6. Stockholders' Equity Effective January 13, 2020, the Company filed a Certificate of Amendment to its Amended and Restated Articles of Incorporation (the “Certificate of Amendment”) with the Secretary of State of the State of Nevada to increase the total authorized shares of common stock of the Company from 200 million shares to 750 million shares and to authorize future issuances of “blank check” preferred stock of the Company of 100 million shares. In the quarter ended March 31, 2020, the Company undertook a private offering of its common stock to two separate accredited investors. Under this offering, an initial 1,000,000 shares were sold to the first investor in January 2020 at an offering price of $0.05 per share, resulting in gross proceeds of $50,000, and another 100,000 shares were sold to the second investor in March 2020 at an offering price of $0.25 per share, resulting in gross proceeds of $25,000. Additionally, the Company awarded a total of 1,600,000 shares of common stock to three consultants and a company in the quarter ended March 31, 2020 as compensation for services. Based on the timing of these awards in relation to the private offering of common stock noted above, the Company valued the first 1,500,000 shares at a price of $0.05 per share, for total non-cash compensation expense of $75,000, and the last 100,000 shares at a price of $0.25 per share, for total non-cash compensation expense of $25,000. In March 2018, the Board approved the establishment of a new 2018 Stock Option Plan with an authorization for the issuance of up to 1,000,000 shares of common stock. The Plan is designed to provide for future discretionary grants of stock options, stock awards and stock unit awards to key employees and non-employee directors. The Company issued warrants but none were exercised to date.

Related Party Transactions Disc

Related Party Transactions Disclosure	12 Months Ended
	Mar. 31, 2020
Notes
Related Party Transactions Disclosure	NOTE 7. Related Party Transactions The Company does not lease or rent any property. In the years ended March 31, 2020 and 2019, office services were provided without charge by a director. Such costs are immaterial to the consolidated financial statements and, accordingly, have not been reflected therein. The officers and directors of the Company are involved in other business activities and may, in the future, become involved in other business opportunities. If a specific business opportunity becomes available, such persons may face a conflict in selecting between the Company and their other business interests. The Company has not formulated a policy for the resolution of such conflicts.

Provision for Income Taxes, Dis

Provision for Income Taxes, Disclosure	12 Months Ended
	Mar. 31, 2020
Notes
Provision for Income Taxes, Disclosure	NOTE 8. Provision for Income Taxes The Company accounts for income taxes under FASB Accounting Standard Codification ASC 740 "Income Taxes". ASC 740 requires use of the liability method. ASC 740 provides that deferred tax assets and liabilities are recorded based on the differences between the tax bases of assets and liabilities and their carrying amounts for financial reporting purposes, referred to as temporary differences. Deferred tax assets and liabilities at the end of each period are determined using the currently enacted tax rates applied to taxable income in the periods in which the deferred tax assets and liabilities are expected to be settled or realized. For the year ended March 31, 2020, the Company had net operating loss carry forwards of approximately $445,700, after taking certain non-deductible items into account, as compared to $305,800 for the year ended March 31, 2019, that may be available to reduce future years' taxable income. Future tax benefits which may arise as a result of these losses have not been recognized in these financial statements, as their realization is determined not likely to occur and accordingly, the Company has recorded a valuation allowance for the deferred tax asset relating to these tax loss carry-forwards. Net operating losses will begin to expire in 2030. Components of net deferred tax assets, including a valuation allowance, are as follows at March 31, 2020 and March 31, 2019: 2020 2019 Deferred tax assets: Net operating loss carry forward $ 93,600 $ 64,200 Total deferred tax assets 93,600 64,200 Less: valuation allowance (93,600) (64,200) Net deferred tax assets $ - $ - The cumulative valuation allowance for deferred tax assets for the year ending March 31, 2020 was $(246,200), as compared to $(152,600) for the same period last year. In assessing the recovery of the deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income in the periods in which those temporary differences become deductible. Management considers the scheduled reversals of future deferred tax assets, projected future taxable income, and tax planning strategies in making this assessment. As a result, management determined it was more likely than not the deferred tax assets would not be realized as of March 31, 2020. The provision for income taxes differs from the amount computed by applying the statutory federal income tax rate to income before provision for income taxes. The sources and tax effects of the differences are as follows: U.S federal statutory rate (21.0%) Valuation reserve 21.0% Total 0% As of March 31, 2020, we had a cumulative unused net operating loss carryover of approximately $1,172,400, after taking certain non-deductible items into account, that is available to offset future taxable income which expires beginning 2038. The availability of such net operating loss carryover to be offset against any future taxable income is significantly limited as a result of the change of control transaction that occurred in November 2019 (see Note 1). All prior tax years currently remain open.

Commitments and Contingencies,

Commitments and Contingencies, Disclosure	12 Months Ended
	Mar. 31, 2020
Notes
Commitments and Contingencies, Disclosure	NOTE 9. Commitments and Contingencies In February 2020, the Company entered into an equity subscription agreement with a third party whereby the Company agreed to grant the third party 640,000 shares of restricted common stock and a large number of common stock purchase warrants, in exchange for a cash payment to the Company of $90,000, and the performance of certain other obligations. The terms and conditions of this memorandum agreement were subject to the negotiation of a definitive agreement between the parties. To date, the parties have not reached such a definitive agreement. Accordingly, the Company has recorded the $90,000 payment received from the third party as a current liability with the expectation that it will eventually either be converted into some form of equity, converted to a term loan, or refunded to the third party. The Company has no lease or other obligations.

Recent Accounting Pronouncement

Recent Accounting Pronouncements, Disclosure	12 Months Ended
	Mar. 31, 2020
Notes
Recent Accounting Pronouncements, Disclosure	NOTE 10. Recent Accounting Pronouncements The Company's management has evaluated all the recently issued accounting pronouncements through the filing date of these consolidated financial statements and does not believe that any of these pronouncements will have a material impact on the Company's financial position and results of operations.

Litigation, Disclosure

Litigation, Disclosure	12 Months Ended
	Mar. 31, 2020
Notes
Litigation, Disclosure	NOTE 11. Litigation From time to time in the ordinary course of our business, we may be involved in legal proceedings, the outcomes of which may not be determinable. The results of litigation are inherently unpredictable. Any claims against us, whether meritorious or not, could be time consuming, result in costly litigation, require significant amounts of management time and result in diversion of significant resources. We are not able to estimate an aggregate amount or range of reasonably possible losses for those legal matters for which losses are not probable and estimable, primarily for the following reasons: (i) many of the relevant legal proceedings are in preliminary stages, and until such proceedings develop further, there is often uncertainty regarding the relevant facts and circumstances at issue and potential liability; and (ii) many of these proceedings involve matters of which the outcomes are inherently difficult to predict. We have insurance policies covering potential losses where such coverage is cost effective. We are not at this time involved in any legal proceedings.

Sale of Bitcoin, Disclosure

Sale of Bitcoin, Disclosure	12 Months Ended
	Mar. 31, 2020
Notes
Sale of Bitcoin, Disclosure	NOTE 12. Sale of Bitcoin In November 2018, the Company sold all of its internally-generated Bitcoin for a cash sales price of $5,140. The Company recognized a one-time gain on this non-recurring sale in the year ended March 31, 2019 in the amount of $1,380.

Subsequent Events

Subsequent Events	12 Months Ended
	Mar. 31, 2020
Notes
Subsequent Events	NOTE 13. Subsequent Events Since December 31, 2019 and through the date of this report, the entire global economy has been substantially impacted by the coronavirus pandemic which began in China and has spread to the United States and most other parts of the world. As disclosed in Note 1, the Company has adopted a new business strategy focused on developing potential commercial opportunities which will involve the rapid application of therapeutics using proprietary metered dose inhaler technology that the Company has recently sublicensed from a third party. The range of possible impacts on the Company’s business from the coronavirus pandemic could include: (i) changing demand for the Company’s products; (ii) rising bottlenecks in the Company’s supply chain; and (iii) increasing contraction in the capital markets. At this time, the Company believes that it is premature to determine the potential impact on the Company’s business prospects from these or any other factors that may be related to the coronavirus pandemic. In April 2020, the Company entered into private stock subscription agreements with two separate accredited investors whereby the Company sold a total of 280,000 shares to these two investors at an offering price of $0.25 per share, resulting in gross proceeds to the Company of $70,000. Additionally, the Company issued another 320,000 shares to a consultant, as compensation for services.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies: Basis of Accounting Policy (Policies)	12 Months Ended
	Mar. 31, 2020
Policies
Basis of Accounting Policy	Basis of Accounting The basis is United States generally accepted accounting principles. The accompanying consolidated financial statements include the accounts of the Company and its wholly-owned subsidiary, Power Blockchain, which is presently inactive.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies: Principles of Consolidation, Policy (Policies)	12 Months Ended
	Mar. 31, 2020
Policies
Principles of Consolidation, Policy	Principles of Consolidation The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiary. All intercompany accounts and transactions have been eliminated in consolidation.

Summary of Significant Accoun_4

Summary of Significant Accounting Policies: Cash and Cash Equivalents Policy (Policies)	12 Months Ended
	Mar. 31, 2020
Policies
Cash and Cash Equivalents Policy	Cash and Cash Equivalents The Company considers all short-term investments with a maturity of three months or less at the date of purchase to be cash and cash equivalents.

Summary of Significant Accoun_5

Summary of Significant Accounting Policies: Earnings per share, Policy (Policies)	12 Months Ended
	Mar. 31, 2020
Policies
Earnings per share, Policy	Earnings per Share The basic earnings (loss) per share is calculated by dividing the Company’s net income (loss) available to common shareholders by the weighted average number of common shares issued and outstanding during the year. The diluted earnings (loss) per share is calculated by dividing the Company’s net income (loss) available to common shareholders by the diluted weighted average number of shares outstanding during the year. The diluted weighted average number of shares outstanding is the basic weighted number of shares adjusted as of the first year for any potentially dilutive debt or equity. The Company has not issued any options or warrants or similar securities that are presently exercisable.

Summary of Significant Accoun_6

Summary of Significant Accounting Policies: Revenue Recognition, Policy (Policies)	12 Months Ended
	Mar. 31, 2020
Policies
Revenue Recognition, Policy	Revenue Recognition We account for revenue from contracts with customers in accordance with FASB Accounting Standards Update ("ASU") No. 2014-09, "Revenue from Contracts with Customers (Topic 606)." The unit of account in Topic 606 is a performance obligation, which is a promise in a contract to transfer to a customer either a distinct good or service (or bundle of goods or services) or a series of distinct goods or services provided at a point in time or over a period of time. Topic 606 requires that a contract’s transaction price, which is the amount of consideration to which an entity expects to be entitled in exchange for transferring promised goods or services to a customer, is to be allocated to each performance obligation in the contract based on relative standalone selling prices and recognized as revenue when (point in time) or as (over time) the performance obligation is satisfied.

Summary of Significant Accoun_7

Summary of Significant Accounting Policies: Inventory, Policy (Policies)	12 Months Ended
	Mar. 31, 2020
Policies
Inventory, Policy	Inventory Inventory as of March 31, 2020, consists of inhalers and related products and supplies delivered to a location near the Company’s offices, and held for online sale to retail customers. Inventory is stated at the lower of weighted average cost or market.

Summary of Significant Accoun_8

Summary of Significant Accounting Policies: Intangible Assets, Policy (Policies)	12 Months Ended
	Mar. 31, 2020
Policies
Intangible Assets, Policy	Intangible Assets The Company amortizes the costs of any renewable license or sub-license agreements over the contractual terms of such renewable agreements. For any license or sub-license agreements which do not require any renewal payments to be made, the Company performs periodic assessments in order to determine whether there has been any impairment in the carrying value of such intangible assets (see Note 4).

Summary of Significant Accoun_9

Summary of Significant Accounting Policies: Income Taxes, Policy (Policies)	12 Months Ended
	Mar. 31, 2020
Policies
Income Taxes, Policy	Income Taxes The provision for income taxes is the total of the current taxes payable and the net of the change in the deferred income taxes. Provision is made for the deferred income taxes where differences exist between the period in which transactions affect current taxable income and the period in which they enter into the determination of net income in the financial statements. A valuation allowance is provided for the amount of deferred assets that, based on available evidence, are not expected to be realized.

Summary of Significant Accou_10

Summary of Significant Accounting Policies: Use of Estimates, Policy (Policies)	12 Months Ended
	Mar. 31, 2020
Policies
Use of Estimates, Policy	Use of Estimates The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenue and expenses during the reporting period. Making estimates requires management to exercise significant judgment. It is at least reasonably possible that the estimate of the effect of a condition, situation or set of circumstances that existed at the date of the financial statements, which management considered in formulating its estimate could change in the near term due to one or more future confirming events. Accordingly, the actual results could differ significantly from estimates.

Summary of Significant Accou_11

Summary of Significant Accounting Policies: Fair value of financial instruments, Policy (Policies)	12 Months Ended
	Mar. 31, 2020
Policies
Fair value of financial instruments, Policy	Fair value of financial instruments Fair value estimates discussed herein are based upon certain market assumptions and pertinent information available to management as of March 2020 and 2019. The respective carrying value of certain on-balance-sheet financial instruments approximated their fair values. These financial instruments include cash and accounts payable. Fair values were assumed to approximate carrying values for cash and payables because they are short term in nature and their carrying amounts approximate fair values or they are payable on demand. Level 1: Level 2: Level 3:

Summary of Significant Accou_12

Summary of Significant Accounting Policies: Subsequent Events, Policy (Policies)	12 Months Ended
	Mar. 31, 2020
Policies
Subsequent Events, Policy	Subsequent Events Management has evaluated any subsequent events occurring in the period from March 31, 2020 through the date the financial statements were issued, to determine if disclosure in this report is warranted (see Note 13).

Notes Payable Disclosure_ Sched

Notes Payable Disclosure: Schedule of long-term debt obligations (Tables)	12 Months Ended
	Mar. 31, 2020
Tables/Schedules
Schedule of long-term debt obligations	March 31, 2020 2019 Convertible promissory notes issued to two accredited investors, maturing in 1 to 5 years, accruing interest at 5% per annum, convertible into common stock at $0.05 per share. $ 300,000 $ - Convertible promissory notes issued to former owners in acquisition of Power Blockchain, accruing interest at 5% per annum, principal repayments originally due in four equal installments on 2nd, 3rd, 4th and 5th anniversaries, convertible into common stock at $0.13 per share, with final maturity on February 1, 2023. 165,240 2,200,000 Other short term notes issued to various affiliates of the former owners of Power Blockchain for acquisition of Treasury Stock, computers and equipment, and working capital financing, at stated interest rates of 10%. 756,535 741,035 Total notes payable $ 1,221,775 $ 2,941,035

Notes Payable Disclosure_ Futur

Notes Payable Disclosure: Future maturities of notes payable (Tables)	12 Months Ended
	Mar. 31, 2020
Tables/Schedules
Future maturities of notes payable	Year ending March 31, 2021 $ 906,535 Year ending March 31, 2022 - Year ending March 31, 2023 165,240 Year ending March 31, 2024 150,000 Year ending March 31, 2025 - $ 1,221,775

Provision for Income Taxes, D_2

Provision for Income Taxes, Disclosure: Components of net deferred tax assets, including a valuation allowance (Tables)	12 Months Ended
	Mar. 31, 2020
Tables/Schedules
Components of net deferred tax assets, including a valuation allowance	2020 2019 Deferred tax assets: Net operating loss carry forward $ 93,600 $ 64,200 Total deferred tax assets 93,600 64,200 Less: valuation allowance (93,600) (64,200) Net deferred tax assets $ - $ -

Provision for Income Taxes, D_3

Provision for Income Taxes, Disclosure: Sources and tax effects of the differences (Tables)	12 Months Ended
	Mar. 31, 2020
Tables/Schedules
Sources and tax effects of the differences	U.S federal statutory rate (21.0%) Valuation reserve 21.0% Total 0%

Going Concern Disclosure (Detai

Going Concern Disclosure (Details) - USD ($)	Mar. 31, 2020	Mar. 31, 2019
Details
Accumulated deficit	$ 3,601,419	$ 2,976,835

Intangible Assets Disclosure (D

Intangible Assets Disclosure (Details) - USD ($)	12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Stock issued for sublicense agreement, value	$ 140,000	$ 0
Additions to sublicense agreement	155,075	$ 0
Accumulated amortization, Sublicense Agreement	$ 37,500
Sublicense agreement with Texas MDI
Stock issued for sublicense agreement, shares	140,000,000
Stock issued for sublicense agreement, value	$ 140,000
Additions to sublicense agreement	$ 135,000

Notes Payable Disclosure_ Sch_2

Notes Payable Disclosure: Schedule of long-term debt obligations (Details) - USD ($)	Mar. 31, 2020	Mar. 31, 2019
Convertible notes payable - related party	$ 315,240	$ 2,200,000
Total notes payable	1,221,775	2,941,035
Convertible promissory notes issued to accredited investors
Convertible notes payable - related party	300,000
Convertible promissory notes issued to former owners
Convertible notes payable - related party	165,240	2,200,000
Other short term notes issued to various affiliates
Notes payable - related party	$ 756,535	$ 741,035

Notes Payable Disclosure (Detai

Notes Payable Disclosure (Details) - USD ($)	12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Issuance of notes payable to related parties	$ 315,500	$ 95,700
Amount of debt converted	$ 2,034,760
Stock issued for conversion of notes payable, shares	15,652,000
Promissory notes with two accredited investors
Issuance of notes payable to related parties	$ 300,000

Stockholders' Equity Disclosu_2

Stockholders' Equity Disclosure (Details) - USD ($)	3 Months Ended	12 Months Ended
	Jun. 29, 2020	Mar. 31, 2020
Stock issued in private placement, value		$ 75,000
Stock issued services, shares	320,000
Stock issued for services, value		$ 178,833
Common stock authorized under the 2018 Stock Option Plan		1,000,000
Private offering, January 2020
Stock issued in private placement, shares		1,000,000
Price per share sold		$ 0.05
Stock issued in private placement, value		$ 50,000
Private offering, March 2020
Stock issued in private placement, shares		100,000
Price per share sold		$ 0.25
Stock issued in private placement, value		$ 25,000
Three consultants and a company
Stock issued services, shares		1,600,000
Shares valued at $0.05 per
Stock issued services, shares		1,500,000
Stock issued for services, value		$ 75,000
Shares valued at $0.25 per
Stock issued services, shares		100,000
Stock issued for services, value		$ 25,000

Provision for Income Taxes, D_4

Provision for Income Taxes, Disclosure (Details) - USD ($)	Mar. 31, 2020	Mar. 31, 2019
Details
Net operating loss carry forwards	$ 445,700	$ 305,800

Provision for Income Taxes, D_5

Provision for Income Taxes, Disclosure: Components of net deferred tax assets, including a valuation allowance (Details) - USD ($)	Mar. 31, 2020	Mar. 31, 2019
Details
Net operating loss carry forward for deferred tax assets	$ 93,600	$ 64,200
Total deferred tax assets	93,600	64,200
Less: valuation allowance	(93,600)	(64,200)
Net deferred tax assets	$ 0	$ 0

Commitments and Contingencies_2

Commitments and Contingencies, Disclosure (Details) - USD ($)	Mar. 31, 2020	Mar. 31, 2019
Details
Common stock sold but not yet issued	640,000
Equity subscription payable	$ 90,000	$ 0

Sale of Bitcoin, Disclosure (De

Sale of Bitcoin, Disclosure (Details)	12 Months Ended
	Mar. 31, 2019USD ($)
Details
Cash sales price of Bitcoin	$ 5,140
Gain on sale of Bitcoin	$ 1,380

Subsequent Events (Details)

Subsequent Events (Details) - USD ($)	3 Months Ended	12 Months Ended
	Jun. 29, 2020	Mar. 31, 2020
Stock issued in private placement, value		$ 75,000
Stock issued services, shares	320,000
Private Offering, April 2020
Stock issued in private placement, shares	280,000
Price per share sold	$ 0.25
Stock issued in private placement, value	$ 70,000