Rapid Therapeutic Science Laboratories (RTSL) 10-Q 9 Nov 20 2021 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Sep. 30, 2020	Nov. 09, 2020
Details
Registrant CIK	0001575659
Fiscal Year End	--03-31
Registrant Name	Rapid Therapeutic Science Laboratories, Inc.
SEC Form	10-Q
Period End date	Sep. 30, 2020
Tax Identification Number (TIN)	46-2111820
Number of common stock shares outstanding		178,522,083
Filer Category	Non-accelerated Filer
Current with reporting	Yes
Interactive Data Current	Yes
Shell Company	false
Small Business	true
Emerging Growth Company	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	2021
Document Fiscal Period Focus	Q2
Document Quarterly Report	true
Document Transition Report	false

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Sep. 30, 2020	Mar. 31, 2020
Current assets:
Cash	$ 266,055	$ 136,215
Inventory, net	192,746	5,873
Total current assets	458,801	142,088
Property and equipment, net	90,561	0
Intangible assets:
Sublicense agreement, net	252,500	302,500
Total assets	801,862	444,588
Property and equipment, gross	92,979	0
Property and equipment, accumulated depreciation	2,418	0
Current liabilities:
Accounts payable, net	69,139	64,577
Equity subscription payable	100,000	90,000
Contract liabilities, net	0	32,000
Notes payable - related party	23,350	23,350
Notes payable - other	366,977	883,185
Accrued interest payable	337,979	400,720
Derivative liability, at fair value	83,606	0
Total current liabilities	981,051	1,493,832
Other liabilities:
Convertible notes payable	315,240	315,240
Total liabilities	1,296,291	1,809,072
Stockholders' deficit:
Preferred stock value	0	0
Common stock value	175,882	159,556
Additional paid in capital	4,475,363	2,414,718
Accumulated deficit	(4,808,335)	(3,601,419)
Treasury stock	(337,339)	(337,339)
Total stockholders' deficit	(494,429)	(1,364,484)
Total liabilities and stockholders' deficit	$ 801,862	$ 444,588

Consolidated Balance Sheets - P

Consolidated Balance Sheets - Parenthetical - USD ($)	Sep. 30, 2020	Mar. 31, 2020
Details
Accumulated amortization, Sublicense Agreement	$ 87,500	$ 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	175,882,083	159,556,000

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($)	3 Months Ended		6 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Details
Revenues	$ 1,629	$ 0	$ 130,916	$ 0
Costs of goods sold	4,791	0	23,347	0
Gross profit	(3,162)	0	107,569	0
Operating expenses:
General and administrative	593,164	20,906	1,222,674	43,880
Amortization expense	25,000	0	50,000	0
Depreciation expense	2,418	0	2,418	0
Total operating expenses	620,582	20,906	1,275,092	43,880
Other income (expense):
Interest expense	(16,792)	(46,767)	(39,393)	(92,866)
Total other income (expense)	(16,792)	(46,767)	(39,393)	(92,866)
Net loss before income taxes	(640,536)	(67,673)	(1,206,916)	(136,746)
Income taxes	0	0	0	0
Net (loss)	$ (640,536)	$ (67,673)	$ (1,206,916)	$ (136,746)
Net loss per share, basic and diluted	$ 0	$ (0.06)	$ (0.01)	$ (0.11)
Weighted average shares outstanding, basic and diluted	166,891,848	1,204,000	163,687,569	1,204,000

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Deficit - USD ($)	Common Stock	Additional Paid-in Capital	Retained Earnings	Treasury Stock	Total
Equity Balance at Mar. 31, 2019	$ 1,204	$ 144,477	$ (2,976,835)	$ (337,339)	$ (3,168,493)
Equity Balance, Shares at Mar. 31, 2019	1,204,000
Share-based compensation, value	$ 0	10,750	0	0	10,750
Net (loss)	$ 0	0	(69,073)	0	(69,073)
Equity Balance, Shares at Jun. 30, 2019	1,204,000
Equity Balance at Jun. 30, 2019	$ 1,204	155,227	(3,045,908)	(337,339)	(3,226,816)
Equity Balance at Mar. 31, 2019	$ 1,204	144,477	(2,976,835)	(337,339)	(3,168,493)
Equity Balance, Shares at Mar. 31, 2019	1,204,000
Net (loss)					(136,746)
Equity Balance, Shares at Sep. 30, 2019	1,204,000
Equity Balance at Sep. 30, 2019	$ 1,204	165,977	(3,113,581)	(337,339)	(3,283,739)
Equity Balance at Jun. 30, 2019	$ 1,204	155,227	(3,045,908)	(337,339)	(3,226,816)
Equity Balance, Shares at Jun. 30, 2019	1,204,000
Share-based compensation, value	$ 0	10,750	0	0	10,750
Net (loss)	$ 0	0	(67,673)	0	(67,673)
Equity Balance, Shares at Sep. 30, 2019	1,204,000
Equity Balance at Sep. 30, 2019	$ 1,204	165,977	(3,113,581)	(337,339)	(3,283,739)
Equity Balance at Mar. 31, 2020	$ 159,556	2,414,718	(3,601,419)	(337,339)	(1,364,484)
Equity Balance, Shares at Mar. 31, 2020	159,556,000
Stock issued in private placement, value	$ 960	239,040	0	0	240,000
Stock issued in private placement, shares	960,000
Share-based compensation, value	$ 1,358	338,226		0	339,584
Share-based compensation, shares issued	1,358,334
Net (loss)	$ 0	0	(566,380)	0	(566,380)
Equity Balance, Shares at Jun. 30, 2020	161,874,334
Equity Balance at Jun. 30, 2020	$ 161,874	2,991,984	(4,167,799)	(337,339)	(1,351,280)
Equity Balance at Mar. 31, 2020	$ 159,556	2,414,718	(3,601,419)	(337,339)	(1,364,484)
Equity Balance, Shares at Mar. 31, 2020	159,556,000
Net (loss)					(1,206,916)
Equity Balance, Shares at Sep. 30, 2020	175,882,083
Equity Balance at Sep. 30, 2020	$ 175,882	4,475,363	(4,808,335)	(337,339)	(494,429)
Equity Balance at Jun. 30, 2020	$ 161,874	2,991,984	(4,167,799)	(337,339)	(1,351,280)
Equity Balance, Shares at Jun. 30, 2020	161,874,334
Stock issued in private placement, value	$ 3,980	991,020	0	0	995,000
Stock issued in private placement, shares	3,980,000
Share-based compensation, value	$ 5	1,245	0	0	1,250
Share-based compensation, shares issued	5,000
Issuance of stock for converted debt and interest, value	$ 10,023	491,114	0	0	$ 501,137
Issuance of stock for converted debt and interest, shares	10,022,749				10,022,749
Net (loss)	$ 0	0	(640,536)	0	$ (640,536)
Equity Balance, Shares at Sep. 30, 2020	175,882,083
Equity Balance at Sep. 30, 2020	$ 175,882	$ 4,475,363	$ (4,808,335)	$ (337,339)	$ (494,429)

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	6 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Cash flows from operating activities:
Net (loss)	$ (1,206,916)	$ (136,746)
Adjustments to reconcile net loss to net cash provided by (used in) operations
Stock-based compensation expense	340,834	21,500
Amortization expense	50,000	0
Depreciation expense	2,418	0
Changes in operating assets and liabilities
Inventory	(186,873)	0
Accounts payable	4,562	8,806
Accrued interest payable	33,794	92,866
Other, net	(22,000)	0
Net cash flows used in operating activities	(984,181)	(13,574)
Cash flows from investing activities:
Additions to property and equipment	92,979	0
Net cash flows used in investing activities	(92,979)	0
Cash flows from financing activities:
Issuance of notes payable to related parties	122,000	15,500
Payments of convertible notes payable	150,000	0
Private sales of common stock	1,235,000	0
Net cash flows provided by financing activities	1,207,000	15,500
Net increase in cash and cash equivalents	129,840	1,926
Cash and cash equivalents at beginning of period	136,215	1,334
Cash and cash equivalents at end of period	266,055	3,260
Supplemental cash flow data:
Cash paid for interest	5,599	0
Cash paid for income taxes	0	0
Supplemental Non-cash financing activities:
Convertible notes and interest converted to common stock	$ 501,137	$ 0

Condensed Interim Financial Sta

Condensed Interim Financial Statements	6 Months Ended
	Sep. 30, 2020
Notes
Condensed Interim Financial Statements	(1) Condensed Interim Financial Statements The Company Interim Financial Information Impact of COVID-19 Pandemic on Consolidated Financial Statements

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Sep. 30, 2020
Notes
Summary of Significant Accounting Policies	(2) Summary of Significant Accounting Policies Basis of Accounting Principles of Consolidation Cash and Cash Equivalents Inventory Property and Equipment Intangible Assets Revenue recognition Earnings per Share Income Taxes Use of Estimates 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 Level 1: The preferred inputs to valuation efforts are “quoted prices in active markets for identical assets or liabilities,” with the caveat that the reporting entity must have access to that market. Information at this level is based on direct observations of transactions involving the same assets and liabilities, not assumptions, and thus offers superior reliability. However, relatively few items, especially physical assets, actually trade in active markets. Level 2: FASB acknowledged that active markets for identical assets and liabilities are relatively uncommon and, even when they do exist, they may be too thin to provide reliable information. To deal with this shortage of direct data, the board provided a second level of inputs that can be applied in three situations. Level 3: If inputs from levels 1 and 2 are not available, FASB acknowledges that fair value measures of many assets and liabilities are less precise. The board describes Level 3 inputs as “unobservable,” and limits their use by saying they “shall be used to measure fair value to the extent that observable inputs are not available.” This category allows “for situations in which there is little, if any, market activity for the asset or liability at the measurement date”. Earlier in the standard, FASB explains that “observable inputs” are gathered from sources other than the reporting company and that they are expected to reflect assumptions made by market participants. Recently Issued Accounting Pronouncements Subsequent Events

Going Concern Disclosure

Going Concern Disclosure	6 Months Ended
	Sep. 30, 2020
Notes
Going Concern Disclosure	(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 $4,808,335 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, or that such financing will be available on favorable terms, if at all. 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	6 Months Ended
	Sep. 30, 2020
Notes
Intangible Assets Disclosure	(4) Intangible Assets Effective November 15, 2019, the Company entered into a sublicense agreement (the “Agreement”) with Texas MDI, Inc., a Texas corporation, which is controlled by Donal R. Schmidt, Jr., the Chief Executive Officer and Director of the Company (“TMDI”), whereby the Company acquired a sublicense from TMDI to use certain technology regarding metered dose inhalers (MDI) that TMDI has licensed from EM3 Methodologies, LLC (“EM3”) and the right to use the RxoidTM brand name owned by TMDI. TMDI has exclusive rights to research, develop, make, have made, use, offer to sell, sell, export and/or import and commercialize, the ‘Desirick Procedure’, which is a proprietary process owned by EM3 for producing MDI using hemp (and other) derivatives in the States of Texas, California, Florida and Nevada, pursuant to an Exclusive License Agreement dated October 1, 2019, by and between TMDI and EM3 (the “EM3 Exclusive License”). Pursuant to the Agreement, the Company obtained substantially the same rights that TMDI had under the EM3 Exclusive License, as to the use of the ‘Desirick Procedure’ for the manufacturing of pressured MDI’s (pMDI) containing cannabis, hemp or a combination thereof in any legal jurisdiction in consideration for 140,000,000 shares of the Company’s common stock (issued in November 2019). Such rights obtained by the Company pursuant to the Agreement were transferred as a result of extensive third party negotiations between the Company and TMDI and have been recorded as 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 advance payments to TMDI that TMDI is required to make to EM3, pursuant to the EM3 Exclusive License Agreement. The Company’s obligation to make such advancements to TMDI is conditioned upon TMDI providing the Company with an advance notice requesting such payments, along with an accounting showing the calculations for such payments. Accordingly, the Company has an obligation to advance TMDI an amount of $200,000 as a license fee covering the first two years of the Agreement and to pay an additional $200,000 each 2 years thereafter (unless at least 100,000 MDI consumables are purchased from EM3 for use in such states during the preceding year). The Company has partially satisfied this obligation by making an equipment purchase on behalf of TMDI in the amount of $135,000, and has agreed to pay the remaining license fee of $65,000 in cash within a 24-month period (for which, the Company has recorded a liability of $44,925 for the unpaid portion of this amount in accounts payable as of September 30, 2020). The Company has recorded the entire $200,000 license fee as an intangible asset and is amortizing such expense on a straight-line basis over a 24 month period (of which, $50,000 was amortized in the six month period ended September 30, 2020).

Notes Payable Disclosure

Notes Payable Disclosure	6 Months Ended
	Sep. 30, 2020
Notes
Notes Payable Disclosure	(5) Notes Payable As of September 30, 2020 and March 31, 2020, the Company had the following note payable obligations: September 30, March 31, 2020 2020 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. $ 150,000 $ 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. 165,240 165,240 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%. Amended on November 15, 2019, to mature in one year and to be convertible into common stock at $0.05 per share. 351,933 756,535 Convertible notes issued to an accredited investor in three tranches from June to August 2020, net of unamortized debt discount of $83,606 (see further discussion below) 38,394 - Total notes payable $ 705,567 $ 1,221,775 Future maturities of notes payable as of September 30, 2020 are as follows: Year ending September 30, 2021 $ 390,327 Year ending September 30, 2022 - Year ending September 30, 2023 165,240 Year ending September 30, 2024 150,000 Year ending September 30, 2025 - $ 705,567 During the three months ended September 30, 2020, the Company reached the necessary milestone to trigger the conversion of certain notes payable issued to the holders on various dates in 2018 and 2019, as amended, in the total principal amount of $732,835 into shares of the Company’s common stock, subject to a 4.99% ownership limitation for each beneficial owner of such notes. In conjunction with this conversion, holders of notes in the principal amount of $404,601, plus an additional accrued interest amount of $96,536 ($501,137), converted their notes into 10,022,749 shares of common stock effective as of August 31, 2020. As of September 30, 2020, notes in the amount of $328,234, plus accrued interest in the amount of $76,028, remain outstanding and are available to be subsequently converted into 8,085,221 shares of common stock, subject to the ownership limitation (see Note 6). During the six months ended September 30, 2020, the Company entered into three identical Securities Purchase Agreements with an accredited investor (the “Buyer”) with respect to Convertible Promissory Notes (the “Notes”) issued by the Company to the Buyer in the total amount of $122,000. The Notes have a maturity date of one year after the date of each issuance and bear interest at a rate of 12% per annum, which is not due until maturity. At the option of the Buyer, the Notes may be converted into shares of the Company’s common stock, beginning one hundred eighty (180) days following the date of each issuance. Under this option, the conversion price is equal to a discount of 42% of the average of the three (3) lowest closing bid prices for the Common Stock during the prior fifteen (15) trading day period. The Buyer will be limited to a 4.99% beneficial ownership limitation in connection with such conversion right under the note. The Company determined that the conversion feature of the Notes required the recognition of a derivative liability upon each issuance. Accordingly, the Company calculated the fair value of these derivative liabilities, using the Black Scholes model, and has recognized a derivative liability for each Note in that amount offset by a debt discount. The Company is amortizing the debt discount on a straight-line basis over the one year term of each of these Notes. 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	6 Months Ended
	Sep. 30, 2020
Notes
Stockholders' Equity Disclosure	(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 100 million shares of “blank check” preferred stock of the Company. During the three months ended September 30, 2020, the Company reached the necessary milestone to trigger the conversion of certain notes payable issued to the holders on various dates in 2018 and 2019, as amended, in the total principal amount of $732,835 into shares of the Company’s common stock, subject to a 4.99% ownership limitation for each beneficial owner of such notes. In conjunction with this conversion, holders of notes in the principal amount of $404,601, plus an additional accrued interest amount of $96,536 ($501,137), converted their notes into 10,022,749 shares of common stock effective as of August 31, 2020. As of September 30, 2020, notes in the amount of $328,234, plus accrued interest in the amount of $76,028, remain outstanding and are available to be subsequently converted into 8,085,221 shares of common stock, subject to the ownership limitation (see Note 5). During the six months ended September 30, 2020, the Company entered into private stock subscription agreements with various accredited investors whereby the Company sold a total of 4,940,000 shares of restricted common stock to these investors at an offering price of $0.25 per share, resulting in gross proceeds to the Company of $1,235,000. Additionally, the Company awarded 1,363,334 shares of restricted common stock to a total of 12 consultants during the six months ended September 30, 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 shares at a price of $0.25 per share, for total non-cash compensation expense of $340,834. In March 2018, the Board approved the establishment of a new 2018 Stock Option Plan with an authorization for the issuance of up to 20,000,000 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 has made no awards under this Plan.

Related Party Transactions Disc

Related Party Transactions Disclosure	6 Months Ended
	Sep. 30, 2020
Notes
Related Party Transactions Disclosure	(7) Related Party Transactions Office services have been 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.

Commitments and Contingencies,

Commitments and Contingencies, Disclosure	6 Months Ended
	Sep. 30, 2020
Notes
Commitments and Contingencies, Disclosure	(8) Commitments and Contingencies From time to time in the ordinary course of our business, the Company 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 currently have no insurance policies covering such potential losses. We are not at this time involved in any legal proceedings.

Subsequent Events

Subsequent Events	6 Months Ended
	Sep. 30, 2020
Notes
Subsequent Events	(9) 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. On October 15, 2020, the Company entered into a private stock subscription agreement with an accredited investor whereby the Company agreed to sell the investor 2,640,000 shares of restricted common stock and 6,000,000 “out of the money” common stock purchase warrants, in exchange for a cash payment to the Company in the amount of $100,000, and the performance of certain other obligations. Based on previous negotiations between the Company and the investor prior to the execution of this agreement, the investor had made a provisional payment of $90,000, which was reflected by the Company as a liability as of September 30, 2020. Upon execution of the agreement, the investor paid the remaining $10,000 to the Company. The resale of the shares held by the purchaser is subject to a lock-up agreement. On October 23, 2020, the Company entered into an Asset Purchase and Sales Agreement with Razor Jacket, LLC (“Razor Jacket”), an Oregon based supplier of isolate and related products, to acquire all of Razor Jacket’s equipment and know-how relating to the manufacture of cannabinoid isolates and related products (the “Assets”). The purchase price for the Assets is (a) $300,000 in cash, payable at closing; (b) 625,000 shares of restricted common stock, payable at closing; and (c) the right for the sellers to earn up to 16.5 million shares of a to-be designated series of preferred stock of the Company, which will be convertible into common stock on a one-for-one basis, subject to certain conditions. The acquisition of the Assets is subject to customary closing conditions and the transaction is expected to close in November 2020, with an effective date of November 1, 2020. In conjunction with the closing of the acquisition, the Assets and the two principals of Razor Jacket are expected to be relocated to the Company’s facilities in Texas.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies: Basis of Accounting Policy (Policies)	6 Months Ended
	Sep. 30, 2020
Policies
Basis of Accounting Policy	Basis of Accounting

Summary of Significant Accoun_3

Summary of Significant Accounting Policies: Principles of Consolidation, Policy (Policies)	6 Months Ended
	Sep. 30, 2020
Policies
Principles of Consolidation, Policy	Principles of Consolidation

Summary of Significant Accoun_4

Summary of Significant Accounting Policies: Cash and Cash Equivalents Policy (Policies)	6 Months Ended
	Sep. 30, 2020
Policies
Cash and Cash Equivalents Policy	Cash and Cash Equivalents

Summary of Significant Accoun_5

Summary of Significant Accounting Policies: Inventory, Policy (Policies)	6 Months Ended
	Sep. 30, 2020
Policies
Inventory, Policy	Inventory

Summary of Significant Accoun_6

Summary of Significant Accounting Policies: Property, Plant and Equipment, Policy (Policies)	6 Months Ended
	Sep. 30, 2020
Policies
Property, Plant and Equipment, Policy	Property and Equipment

Summary of Significant Accoun_7

Summary of Significant Accounting Policies: Intangible Assets, Policy (Policies)	6 Months Ended
	Sep. 30, 2020
Policies
Intangible Assets, Policy	Intangible Assets

Summary of Significant Accoun_8

Summary of Significant Accounting Policies: Revenue Recognition, Policy (Policies)	6 Months Ended
	Sep. 30, 2020
Policies
Revenue Recognition, Policy	Revenue recognition

Summary of Significant Accoun_9

Summary of Significant Accounting Policies: Earnings per share, Policy (Policies)	6 Months Ended
	Sep. 30, 2020
Policies
Earnings per share, Policy	Earnings per Share

Summary of Significant Accou_10

Summary of Significant Accounting Policies: Income Taxes, Policy (Policies)	6 Months Ended
	Sep. 30, 2020
Policies
Income Taxes, Policy	Income Taxes

Summary of Significant Accou_11

Summary of Significant Accounting Policies: Use of Estimates, Policy (Policies)	6 Months Ended
	Sep. 30, 2020
Policies
Use of Estimates, Policy	Use of Estimates 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_12

Summary of Significant Accounting Policies: Fair value of financial instruments, Policy (Policies)	6 Months Ended
	Sep. 30, 2020
Policies
Fair value of financial instruments, Policy	Fair Value of Financial Instruments Level 1: The preferred inputs to valuation efforts are “quoted prices in active markets for identical assets or liabilities,” with the caveat that the reporting entity must have access to that market. Information at this level is based on direct observations of transactions involving the same assets and liabilities, not assumptions, and thus offers superior reliability. However, relatively few items, especially physical assets, actually trade in active markets. Level 2: FASB acknowledged that active markets for identical assets and liabilities are relatively uncommon and, even when they do exist, they may be too thin to provide reliable information. To deal with this shortage of direct data, the board provided a second level of inputs that can be applied in three situations. Level 3: If inputs from levels 1 and 2 are not available, FASB acknowledges that fair value measures of many assets and liabilities are less precise. The board describes Level 3 inputs as “unobservable,” and limits their use by saying they “shall be used to measure fair value to the extent that observable inputs are not available.” This category allows “for situations in which there is little, if any, market activity for the asset or liability at the measurement date”. Earlier in the standard, FASB explains that “observable inputs” are gathered from sources other than the reporting company and that they are expected to reflect assumptions made by market participants.

Summary of Significant Accou_13

Summary of Significant Accounting Policies: Recently Issued Accounting Pronouncements (Policies)	6 Months Ended
	Sep. 30, 2020
Policies
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements

Summary of Significant Accou_14

Summary of Significant Accounting Policies: Subsequent Events, Policy (Policies)	6 Months Ended
	Sep. 30, 2020
Policies
Subsequent Events, Policy	Subsequent Events

Notes Payable Disclosure_ Sched

Notes Payable Disclosure: Schedule of long-term debt obligations (Tables)	6 Months Ended
	Sep. 30, 2020
Tables/Schedules
Schedule of long-term debt obligations	September 30, March 31, 2020 2020 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. $ 150,000 $ 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. 165,240 165,240 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%. Amended on November 15, 2019, to mature in one year and to be convertible into common stock at $0.05 per share. 351,933 756,535 Convertible notes issued to an accredited investor in three tranches from June to August 2020, net of unamortized debt discount of $83,606 (see further discussion below) 38,394 - Total notes payable $ 705,567 $ 1,221,775

Notes Payable Disclosure_ Futur

Notes Payable Disclosure: Future maturities of notes payable (Tables)	6 Months Ended
	Sep. 30, 2020
Tables/Schedules
Future maturities of notes payable	Year ending September 30, 2021 $ 390,327 Year ending September 30, 2022 - Year ending September 30, 2023 165,240 Year ending September 30, 2024 150,000 Year ending September 30, 2025 - $ 705,567

Going Concern Disclosure (Detai

Going Concern Disclosure (Details) - USD ($)	Sep. 30, 2020	Mar. 31, 2020
Details
Accumulated deficit	$ 4,808,335	$ 3,601,419

Intangible Assets Disclosure (D

Intangible Assets Disclosure (Details) - USD ($)	3 Months Ended
	Dec. 31, 2019	Sep. 30, 2020	Mar. 31, 2020
Accounts payable, net		$ 69,139	$ 64,577
Accumulated amortization, Sublicense Agreement		87,500	$ 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
Accounts payable, net		44,925
Sublicense agreement, gross		200,000
Accumulated amortization, Sublicense Agreement		$ 50,000

Notes Payable Disclosure_ Sch_2

Notes Payable Disclosure: Schedule of long-term debt obligations (Details) - USD ($)	Sep. 30, 2020	Mar. 31, 2020
Convertible notes payable - related party	$ 315,240	$ 315,240
Total notes payable	705,567	1,221,775
Promissory notes with two accredited investors
Convertible notes payable - related party	150,000	300,000
Convertible promissory notes issued to former owners
Convertible notes payable - related party	165,240	165,240
Other short term notes issued to various affiliates
Convertible notes payable - related party	351,933	$ 756,535
Convertible promissory notes issued to accredited investors
Convertible notes payable - related party	$ 38,394

Notes Payable Disclosure (Detai

Notes Payable Disclosure (Details) - USD ($)	3 Months Ended		6 Months Ended
	Sep. 30, 2020	Dec. 31, 2019	Sep. 30, 2020	Sep. 30, 2019
Issuance of stock for converted debt and interest, value	$ 501,137
Issuance of stock for converted debt and interest, shares	10,022,749
Issuance of notes payable to related parties			$ 122,000	$ 15,500
Amount of debt converted		$ 2,034,760	501,137	$ 0
Stock issued for conversion of notes payable, shares		15,652,000
Convertible Promissory Note, SPA
Issuance of notes payable to related parties			$ 122,000
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				6 Months Ended
	Sep. 30, 2020	Jun. 30, 2020	Sep. 30, 2019	Jun. 30, 2019	Sep. 30, 2020
Issuance of stock for converted debt and interest, value	$ 501,137
Issuance of stock for converted debt and interest, shares	10,022,749
Stock issued in private placement, value	$ 995,000	$ 240,000
Share-based compensation, value	$ 1,250	$ 339,584	$ 10,750	$ 10,750
Common stock authorized under the 2018 Stock Option Plan	20,000,000				20,000,000
private stock subscription agreements with six separate accredited investors
Stock issued in private placement, shares					4,940,000
Price per share sold	$ 0.25				$ 0.25
Stock issued in private placement, value					$ 1,235,000
Twelve consultants as compensation for services
Share-based compensation, shares issued					1,363,334
Share-based compensation, value					$ 340,834

Subsequent Events (Details)

Subsequent Events (Details) - USD ($)	1 Months Ended		3 Months Ended
	Oct. 30, 2020	Aug. 13, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020
Equity subscription payable			$ 100,000		$ 90,000
Stock issued in private placement, value			$ 995,000	$ 240,000
Private stock subscription agreement with an accredited investor (restricted common stock)
Stock issued in private placement, shares	2,640,000
Private stock subscription agreement with an accredited investor ('out of the money' common stock)
Stock issued in private placement, shares	6,000,000
Private stock subscription agreement with an accredited investor
Equity subscription payable					$ 90,000
Stock issued in private placement, value		$ 10,000