Document and Entity Information
Document and Entity Information - shares | 6 Months Ended | |
Sep. 30, 2019 | Nov. 14, 2019 | |
Document And Entity Information | ||
Entity Registrant Name | Intellisense Solutions Inc. | |
Entity Central Index Key | 0001577445 | |
Document Type | 10-Q | |
Document Period End Date | Sep. 30, 2019 | |
Amendment Flag | false | |
Current Fiscal Year End Date | --03-31 | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | No | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business Flag | true | |
Entity Emerging Growth Company | true | |
Entity Ex Transition Period | false | |
Entity Shell Company | true | |
Entity Common Stock, Shares Outstanding | 2,574,680 | |
Document Fiscal Period Focus | Q2 | |
Document Fiscal Year Focus | 2020 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) | Sep. 30, 2019 | Mar. 31, 2019 |
Current assets: | ||
Cash and cash equivalents | $ 2,442 | $ 26,322 |
Total assets | 2,442 | 26,322 |
Current liabilities: | ||
Accounts payable and accrued expenses | ||
Accounts payable to related parties | 47,894 | 28,167 |
Notes payable to related parties | 225,000 | 170,000 |
Total current liabilities | 272,894 | 198,167 |
Stockholders' deficit: | ||
Common stock, par value $0.001 per share, 75,000,000 shares authorized; 2,574,680 shares issued and outstanding as of September 30, 2019 and 2,529,680 shares issued and outstanding as of March 31, 2019. | 2,574 | 2,529 |
Additional paid-in capital | 75,095 | 70,619 |
Subscription receivable | (300) | |
Accumulated deficit | (347,821) | (244,993) |
Total stockholders' deficit | (270,452) | (171,845) |
Total liabilities and stockholders' deficit | $ 2,442 | $ 26,322 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - $ / shares | Sep. 30, 2019 | Mar. 31, 2019 |
Statement of Financial Position [Abstract] | ||
Common stock, par value | $ 0.001 | $ 0.001 |
Common stock, shares authorized | 75,000,000 | 75,000,000 |
Common stock, shares issued | 2,574,680 | 2,529,680 |
Common stock, shares outstanding | 2,574,680 | 2,529,680 |
Consolidated Statements of Oper
Consolidated Statements of Operations (Unaudited) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
OPERATING EXPENSES | ||||
Professional fees | $ 48,785 | $ 11,224 | $ 82,230 | $ 19,333 |
General & administrative | 3,750 | 1,974 | 12,371 | 2,270 |
Total operating expenses | 52,535 | 13,198 | 94,601 | 21,603 |
OTHER EXPENSE: | ||||
Interest expense | (4,188) | (1,550) | (8,227) | (2,829) |
Total other expense | (4,188) | (1,550) | (8,227) | (2,829) |
NET LOSS | $ (56,723) | $ (14,748) | $ (102,828) | $ (24,432) |
Net loss per share - basic and diluted | $ (0.02) | $ (0.01) | $ (0.04) | $ (0.01) |
Weighted average number of shares outstanding - basic and diluted | 2,574,680 | 2,529,680 | 2,574,680 | 2,529,680 |
Consolidated Statement of Chang
Consolidated Statement of Changes in Shareholders' (Deficit) (Unaudited) - USD ($) | Common Stock [Member] | Additional Paid-in Capital [Member] | Accumulated Deficit [Member] | Subscription Receivable [Member] | Total |
Balance at Mar. 31, 2018 | $ 2,529 | $ 70,619 | $ (145,453) | $ (72,305) | |
Balance, shares at Mar. 31, 2018 | 2,529,680 | ||||
Net loss | (9,684) | (24,432) | |||
Balance at Jun. 30, 2018 | $ 2,529 | 70,619 | (155,137) | (81,989) | |
Balance, shares at Jun. 30, 2018 | 2,529,680 | ||||
Balance at Mar. 31, 2018 | $ 2,529 | 70,619 | (145,453) | (72,305) | |
Balance, shares at Mar. 31, 2018 | 2,529,680 | ||||
Net loss | (24,432) | ||||
Balance at Sep. 30, 2018 | $ 2,529 | 70,619 | (169,885) | (96,737) | |
Balance, shares at Sep. 30, 2018 | 2,529,680 | ||||
Balance at Jun. 30, 2018 | $ 2,529 | 70,619 | (155,137) | (81,989) | |
Balance, shares at Jun. 30, 2018 | 2,529,680 | ||||
Net loss | (14,748) | (14,748) | |||
Balance at Sep. 30, 2018 | $ 2,529 | 70,619 | (169,885) | (96,737) | |
Balance, shares at Sep. 30, 2018 | 2,529,680 | ||||
Balance at Mar. 31, 2019 | $ 2,529 | 70,619 | (244,993) | (171,845) | |
Balance, shares at Mar. 31, 2019 | 2,529,680 | ||||
Shares issued for services | $ 15 | 1,485 | 1,500 | ||
Shares issued for services, shares | 15,000 | ||||
Warrants issued for services | 2,721 | 2,721 | |||
Warrants exercised | $ 30 | 270 | 300 | ||
Warrants exercised, shares | 30,000 | ||||
Subscription receivable | (300) | (300) | |||
Net loss | (46,105) | (46,105) | |||
Balance at Jun. 30, 2019 | $ 2,574 | 75,095 | (291,098) | (300) | (213,729) |
Balance, shares at Jun. 30, 2019 | 2,574,680 | ||||
Balance at Mar. 31, 2019 | $ 2,529 | 70,619 | (244,993) | (171,845) | |
Balance, shares at Mar. 31, 2019 | 2,529,680 | ||||
Net loss | (102,828) | ||||
Balance at Sep. 30, 2019 | $ 2,574 | 75,095 | (347,821) | (300) | (270,452) |
Balance, shares at Sep. 30, 2019 | 2,574,680 | ||||
Balance at Jun. 30, 2019 | $ 2,574 | 75,095 | (291,098) | (300) | (213,729) |
Balance, shares at Jun. 30, 2019 | 2,574,680 | ||||
Net loss | (56,723) | (56,723) | |||
Balance at Sep. 30, 2019 | $ 2,574 | $ 75,095 | $ (347,821) | $ (300) | $ (270,452) |
Balance, shares at Sep. 30, 2019 | 2,574,680 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows (Unaudited) - USD ($) | 6 Months Ended | |
Sep. 30, 2019 | Sep. 30, 2018 | |
CASH FLOWS FROM OPERATING ACTIVITIES: | ||
Net (loss) | $ (102,828) | $ (24,432) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Stock based compensation | 4,221 | |
Changes in operating assets and liabilities: | ||
Prepaid expenses | (2,917) | |
Accounts payable and accrued liabilities | (6,297) | |
Accounts payable to related party | 19,727 | 853 |
Net cash used in operating activities | (78,880) | (32,793) |
CASH FLOWS FROM FINANCING ACTIVITIES: | ||
Payments on notes payable | (51,000) | |
Proceeds from notes payable to related parties | 55,000 | 75,000 |
Net cash provided by financing activities | 55,000 | 24,000 |
NET CHANGE IN CASH | (23,880) | (8,793) |
CASH AT BEGINNING OF PERIOD | 26,322 | 10,153 |
CASH AT END OF PERIOD | 2,442 | 1,360 |
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION | ||
Cash paid for: Interest | 8,976 | |
Cash paid for: Income Tax | ||
NONCASH INVESTING AND FINANCIAL ACTIVITIES | ||
Stock subscription receivable | $ 300 |
Nature of Operations and Basis
Nature of Operations and Basis of Presentation | 6 Months Ended |
Sep. 30, 2019 | |
Accounting Policies [Abstract] | |
Nature of Operations and Basis of Presentation | NOTE 1 - NATURE OF OPERATIONS AND BASIS OF PRESENTATION Intellisense Solutions, Inc. (the “Company”) was incorporated under the laws of the State of Nevada on March 22, 2013. We were initially engaged in the business of developing web portals to allow companies and individuals to engage in the purchase and sale of vegetarian food products over the Internet. However, we never achieved commercial sales or developed any significant operations. We currently are pursuing acquiring or merging with an entity with significant operations in order to create a viable business model and value for our shareholders. Our objectives are extremely general and do not restrict the discretion of our board of directors to search for and enter into potential business opportunities or to reject any such opportunities. On January 10, 2019, we formed Canna Patch Ltd., an Israeli corporation (“Canna Patch”), which is 90% owned by the Company and 10% owned by Mr. Rafael Ezra, Canna Patch’s chief technology officer. On September 16, 2019 the Company entered into a securities exchange agreement (the “Exchange Agreement”) with Medigus Ltd., an Israeli corporation (“Medigus”), pursuant to which Medigus will exchange 100% of the shares of its wholly-owned subsidiary, ScoutCam Ltd., an Israeli corporation (“ScoutCam”), for 60% of the issued and outstanding shares of the Company, immediately prior to the closing of the exchange transaction (the “Closing”) on a fully-diluted basis. The Closing is subject to the satisfaction of certain closing conditions by the respective parties, including, that the Company have at least US$3,000,000 in cash on hand upon Closing, based on a pre-money valuation of $10,000,000 of the Company on a post-Closing basis. In addition, the Exchange Agreement provides that if ScoutCam achieves US$33,000,000 in sales in the aggregate within the first three years immediately subsequent to the Closing, the Company will issue to Medigus additional shares of the Company’s common stock representing 10% of the Company’s issued and outstanding share capital as of the date of the Closing. Basis of Presentation The unaudited interim financial statements contained in this quarterly report have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and the rules of the Securities and Exchange Commission (“SEC”) for interim financial information and do not include all of the information or disclosures required by U.S. GAAP for annual financial statements. Accordingly, these unaudited interim consolidated financial statements should be read in conjunction with the audited financial statements and notes thereto contained in the Company’s Annual Report on Form 10- K as of and for the year ended March 31, 2019, as filed with the SEC on July 9, 2019. In the opinion of management, all adjustments, consisting of normal recurring adjustments, necessary for a fair presentation of financial position and the results of operations for the interim periods presented have been reflected herein. The results of operations for interim periods are not necessarily indicative of the results to be expected for the full year, or any other period. Going Concern As of September 30, 2019, the accompanying consolidated financial statements have been presented on the basis that it is a going concern which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. The Company has an accumulated deficit of $347,821 and negative working capital of $270,452. Presently, the Company does not have sufficient cash resources to effectuate its business plan in the next twelve months. In view of these matters, recoverability of any asset amounts shown in the accompanying audited consolidated financial statements is dependent upon the Company’s ability to begin operations and to achieve a level of profitability. These factors raise substantial doubt about the Company’s ability to continue as a going concern. The Company has financed its activities principally from the sale of equity securities and related party loans. The Company intends on financing its future development activities and its working capital needs largely from loans and the sale of equity securities with some additional funding from other traditional financing sources until such time that funds provided by operations are sufficient to fund working capital requirements. |
Significant Accounting Policies
Significant Accounting Policies | 6 Months Ended |
Sep. 30, 2019 | |
Accounting Policies [Abstract] | |
Significant Accounting Policies | Note 2 – Significant Accounting Policies This summary of significant accounting policies is presented to assist the reader in understanding and evaluating the Company’s consolidated financial statements. These accounting policies conform to U.S. GAAP and have been consistently applied in the preparation of the consolidated financial statements. Cash and Cash Equivalents Cash and cash equivalents as of September 30, 2019 and 2018 included cash on-hand. Cash equivalents are considered all accounts with an original maturity date within 90 days. Use of Estimates The preparation of the financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. The current economic environment has increased the degree and uncertainty inherent in these estimates and assumptions. Principles of Consolidation The accompanying financial statements reflect the consolidation of the individual financial statements of Intellisense Solutions, Inc. and Canna Patch Ltd. All significant intercompany accounts and transactions have been eliminated. Related Party Transactions The Company follows ASC 850, Related Party Disclosures Recent Accounting Pronouncements Management does not believe that any recently issued, but not yet effective accounting pronouncements, if adopted, would have a material effect on the accompanying financial statements. |
Common Stock
Common Stock | 6 Months Ended |
Sep. 30, 2019 | |
Equity [Abstract] | |
Common Stock | Note 3 – COMMON STOCK As of September 30, 2019, the Company had 2,574,680 shares issued and outstanding. On May 1, 2019, the Company entered into a service agreement (the “Optima Service Agreement”) with Oded Gilboa, our Chief Financial Officer, and Optima Solutions Ltd. an Israeli corporation (“Optima”). Under the terms of the Optima Service Agreement, the Company issued 15,000 share of common stock of the Company along with warrants to purchase 90,000 shares of the Company’s common stock, at an exercise price of $0.01 per share which vest as follows (i) 30,000 shares as of May 1, 2019; (ii) 30,000 shares as of January 1, 2020; and (iii) 30,000 shares as of January 1, 2021. Such warrants were valued at $8,164, using Black-Scholes pricing model. Assumptions used in the valuation included the following: (a) market value of stock on measurement date of $0.10; (b) risk-free rate of 2.47%; and (c) dividend yield of 0%. The Company expensed $2,721, for the six-month period ended September 30, 2019 to reflect the vested amount of warrants. On June 3, 2019, 15,000 shares were issued, as per the Optima Service Agreement. The shares were valued at $0.10 per share and considered not forfeitable and fully earned on the date of the issuance. On June 3, 2019, the Chief Financial Officer exercised the warrant to purchase 30,000 shares of common stock of the Company at $0.01 per share. As of September 30, 2019, the Company recorded a $300 stock subscription receivable for this issuance. There was no issuance of common stock for the six months ended September 30, 2018. |
Notes Payable
Notes Payable | 6 Months Ended |
Sep. 30, 2019 | |
Debt Disclosure [Abstract] | |
Notes Payable | Note 4 – NOTES PAYABLE Notes payable – Short-term consisted of the following as of: September 30, 2019 March 31, 2019 Note payable to related party, 8% interest per annum, due on September 30, 2019 15,000 15,000 Note payable to related party, 8% interest per annum, due on September 30, 2019 15,000 15,000 Note payable to related party, 8% interest per annum, due on September 30, 2019 15,000 15,000 Note payable to related party, 8% interest per annum, due on September 30, 2019 15,000 15,000 Note payable to related party, 8% interest per annum, due on September 30, 2019 15,000 15,000 Note payable to related party, 8% interest per annum, due on September 30, 2019 10,000 10,000 Note payable to related party, 8% interest per annum, due on September 30, 2019 10,000 10,000 Note payable to related party, 8% interest per annum, due on September 30, 2019 10,000 10,000 Note payable to related party, 8% interest per annum, due on September 30, 2019 10,000 10,000 Note payable to related party, 8% interest per annum, due on September 30, 2019 10,000 10,000 Note payable to related party, 8% interest per annum, due on September 30, 2019 10,000 10,000 Note payable to related party, 8% interest per annum, due on September 30, 2019 10,000 10,000 Note payable to related party, 8% interest per annum, due on September 30, 2019 10,000 10,000 Note payable to related party, 8% interest per annum, due on September 30, 2019 15,000 15,000 Note payable to related party, 8% interest per annum, due on September 30, 2019 15,000 - Note payable to related party, 8% interest per annum, due on September 30, 2019 10,000 - Note payable to related party, 8% interest per annum, due on September 30, 2019 10,000 - Note payable to related party, 8% interest per annum, due on September 30, 2019 10,000 - Note payable to related party, 8% interest per annum, due on September 30, 2019 10,000 - $ 225,000 $ 170,000 On May 15, 2018, the Company entered into a first amendment to the convertible promissory note agreement with Trius Holdings Limited. This agreement became due and payable on May 17, 2019 and was paid off on August 24, 2018. On June 6, 2018, the Company entered into promissory notes with five investors, Amir Uziel, Lavi Krasney, L.I.A. Pure Capital Ltd., Nir Reinhold and Yaad Consulting & Management Services (1995) Ltd, each in the principal amount of $15,000, totaling $75,000. The notes accrue interest at a rate of 8% per annum and were each due on September 30, 2019 (original maturity date of December 5, 2018 was extended on November 15, 2018 and again on May 1, 2019). These note holders are considered to be related parties due to their influence. On November 2, 2018, the Company entered into promissory notes with five investors, Amir Uziel, Lavi Krasney, L.I.A. Pure Capital Ltd., Nir Reinhold and Yaad Consulting & Management Services (1995) Ltd., each in the principal amount of $10,000, totaling $50,000. The notes accrue interest at a rate of 8% per annum and were each due on September 30, 2019 (original maturity date of May 1, 2019 was extended on May 1, 2019). On March 20, 2019, the Company entered into promissory notes with four investors, Amir Uziel, Lavi Krasney, L.I.A. Pure Capital Ltd. for $10,000 each, and Yaad Consulting & Management Services (1995) Ltd. in the principal amount of $15,000, totaling $45,000. The notes accrue interest at a rate of 8% per annum and were each due on September 30, 2019. On June 26, 2018, the Company repaid a $10,000 note, including accrued interest of $3,321. Additionally, on August 24, 2018, the Company paid off four of the existing notes for $41,000, including accrued interest of $5,655, in the aggregate. On April 4, 2019, the Company issued a promissory note to Nir Reinhold in the principal amount of $15,000. The note accrues interest at a rate of 8% per annum and was due on September 30, 2019. On July 4, 2019, the Company entered into promissory notes with four investors, Amir Uziel, Lavi Krasney, L.I.A. Pure Capital Ltd. and Yaad Consulting & Management Services (1995) Ltd, for $10,000 each, totaling $40,000. The notes accrue interest at a rate of 8% per annum and were each due on September 30, 2019. As of September 30, 2019 Notes payable in the principle amount of $225,000 due on September 30, 2019 to Amir Uziel, Lavi Krasney, L.I.A. Pure Capital Ltd. Nir Reinhold and Yaad Consulting & Management Services (1995) Ltd. are in default. |
Related Party
Related Party | 6 Months Ended |
Sep. 30, 2019 | |
Related Party Transactions [Abstract] | |
Related Party | Note 5 – RELATED PARTY Other than transactions and balances related to cash and share based compensation to officers and directors, the Company had the following related party transactions. On July 4, 2019, the Company entered into promissory notes with four investors, Amir Uziel, Lavi Krasney, L.I.A. Pure Capital Ltd. and Yaad Consulting & Management Services (1995) Ltd., for $10,000 each, totaling $40,000. The notes accrue interest at a rate of 8% per annum and were each due on September 30, 2019. On April 4, 2019, the Company issued a promissory note to Nir Reinhold in the principal amount of $15,000. The note accrues interest at a rate of 8% per annum and was due on September 30, 2019. On March 20, 2019, the Company issued promissory notes to four investors, Amir Uziel, Lavi Krasney and L.I.A. Pure Capital Ltd. for $10,000 each, and Yaad Consulting & Management Services (1995) Ltd. in the principal amount of $15,000, totaling $45,000. The notes accrue interest at a rate of 8% per annum and were each due on September 30, 2019. On November 2, 2018, the Company issued promissory notes to five investors, Amir Uziel, Lavi Krasney, L.I.A. Pure Capital Ltd., Nir Reinhold and Yaad Consulting & Management Services (1995) Ltd, each in the principal amount of $10,000, totaling $50,000. The notes accrue interest at a rate of 8% per annum and were each due on September 30, 2019. On June 6, 2018, the Company issued promissory notes to five investors, Amir Uziel, Lavi Krasney, L.I.A. Pure Capital Ltd., Nir Reinhold and Yaad Consulting & Management Services (1995) Ltd, each in the principal amount of $15,000, totaling $75,000. The notes accrue interest at a rate of 8% per annum and were each due on September 30, 2019. The balance payable to Amir Uziel, Lavi Krasney, L.I.A. Pure Capital Ltd. Nir Reinhold and Yaad Consulting & Management Services (1995) Ltd. as of September 30, 2019 in aggregate was $225,000 of principal and $14,894 of accrued interest and was due on September 30, 2019 to and thus the Notes payable are in default. These note holders are considered to be related parties due to their influence. On May 1, 2019, we entered into the Optima Service Agreement with Oded Gilboa, our Chief Financial Officer, and Optima, pursuant to which Mr. Gilboa will provide, among other things, certain administrative and accounting services to the Company. In consideration therefor, Mr. Gilboa will be (i) paid $6,000 per month and $300 per month for bookkeeping services related to Canna Patch Ltd. and (ii) issued 15,000 shares of our common stock and a three-year Class A warrant to purchase an aggregate of 90,000 shares of common stock at an exercise price of $0.01 per share which may be exercised on a cashless as to 30,000 shares on each of May 1, 2019, January 1, 2020, and January 1, 2021. Pursuant to the Optima Services Agreement as of September 30, 2019, the Company has an outstanding payable balance of $33,000 due to Optima. (See Note 3 for equity awards). Until January 8, 2019, the Company used office space in Scottsdale, Arizona, provided by Eventus at no charge. From January 8, 2019, to May 1, 2019 the Company had no office space. From May 1, 2019 the Company has leased approximately 250 square feet of office space from Yaad, a shareholder, for its principal corporate offices in Tel Aviv, Israel for $ 140 per month under a month-to-month lease. |
Subsequent Events
Subsequent Events | 6 Months Ended |
Sep. 30, 2019 | |
Subsequent Events [Abstract] | |
Subsequent Events | Note 6 – SUBSEQUENT EVENTS On October 4, 2019, the Company issued promissory notes to Amir Uziel in the principal amount of $5,000. The note accrues interest at a rate of 8% per annum and is due on October 7, 2019. The Company has evaluated subsequent events through the filing of this Quarterly Report on Form 10-Q, and determined that there have been no events that have occurred that would require adjustments to our disclosures in the consolidated financial statements except for the transaction described below. |
Significant Accounting Polici_2
Significant Accounting Policies (Policies) | 6 Months Ended |
Sep. 30, 2019 | |
Accounting Policies [Abstract] | |
Cash and Cash Equivalents | Cash and Cash Equivalents Cash and cash equivalents as of September 30, 2019 and 2018 included cash on-hand. Cash equivalents are considered all accounts with an original maturity date within 90 days. |
Use of Estimates | Use of Estimates The preparation of the financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. The current economic environment has increased the degree and uncertainty inherent in these estimates and assumptions. |
Principles of Consolidation | Principles of Consolidation The accompanying financial statements reflect the consolidation of the individual financial statements of Intellisense Solutions, Inc. and Canna Patch Ltd. All significant intercompany accounts and transactions have been eliminated. |
Related Party Transactions | Related Party Transactions The Company follows ASC 850, Related Party Disclosures |
Recent Accounting Pronouncements | Recent Accounting Pronouncements Management does not believe that any recently issued, but not yet effective accounting pronouncements, if adopted, would have a material effect on the accompanying financial statements. |
Notes Payable (Tables)
Notes Payable (Tables) | 6 Months Ended |
Sep. 30, 2019 | |
Debt Disclosure [Abstract] | |
Schedule of Notes Payable | Notes payable – Short-term consisted of the following as of: September 30, 2019 March 31, 2019 Note payable to related party, 8% interest per annum, due on September 30, 2019 15,000 15,000 Note payable to related party, 8% interest per annum, due on September 30, 2019 15,000 15,000 Note payable to related party, 8% interest per annum, due on September 30, 2019 15,000 15,000 Note payable to related party, 8% interest per annum, due on September 30, 2019 15,000 15,000 Note payable to related party, 8% interest per annum, due on September 30, 2019 15,000 15,000 Note payable to related party, 8% interest per annum, due on September 30, 2019 10,000 10,000 Note payable to related party, 8% interest per annum, due on September 30, 2019 10,000 10,000 Note payable to related party, 8% interest per annum, due on September 30, 2019 10,000 10,000 Note payable to related party, 8% interest per annum, due on September 30, 2019 10,000 10,000 Note payable to related party, 8% interest per annum, due on September 30, 2019 10,000 10,000 Note payable to related party, 8% interest per annum, due on September 30, 2019 10,000 10,000 Note payable to related party, 8% interest per annum, due on September 30, 2019 10,000 10,000 Note payable to related party, 8% interest per annum, due on September 30, 2019 10,000 10,000 Note payable to related party, 8% interest per annum, due on September 30, 2019 15,000 15,000 Note payable to related party, 8% interest per annum, due on September 30, 2019 15,000 - Note payable to related party, 8% interest per annum, due on September 30, 2019 10,000 - Note payable to related party, 8% interest per annum, due on September 30, 2019 10,000 - Note payable to related party, 8% interest per annum, due on September 30, 2019 10,000 - Note payable to related party, 8% interest per annum, due on September 30, 2019 10,000 - $ 225,000 $ 170,000 |
Nature of Operations and Basi_2
Nature of Operations and Basis of Presentation (Details Narrative) - USD ($) | 6 Months Ended | |||
Sep. 30, 2019 | Sep. 16, 2019 | Mar. 31, 2019 | Jan. 10, 2019 | |
State country code | NV | |||
Date of incorporation | Mar. 22, 2013 | |||
Accumulated deficit | $ (347,821) | $ (244,993) | ||
Working capital | $ 270,452 | |||
Canna Patch Ltd., [Member] | ||||
Equity ownership percentage | 90.00% | |||
Canna Patch Ltd., [Member] | Mr. Rafael Ezra [Member] | ||||
Equity ownership percentage | 10.00% | |||
ScoutCam Ltd., [Member] | Securities Exchange Agreement [Member] | ||||
Equity ownership percentage | 100.00% | |||
Exchange agreement description | On September 16, 2019 the Company entered into a securities exchange agreement (the “Exchange Agreement”) with Medigus Ltd., an Israeli corporation (“Medigus”), pursuant to which Medigus will exchange 100% of the shares of its wholly-owned subsidiary, ScoutCam Ltd., an Israeli corporation (“ScoutCam”), for 60% of the issued and outstanding shares of the Company, immediately prior to the closing of the exchange transaction (the “Closing”) on a fully-diluted basis. The Closing is subject to the satisfaction of certain closing conditions by the respective parties, including, that the Company have at least US$3,000,000 in cash on hand upon Closing, based on a pre-money valuation of $10,000,000 of the Company on a post-Closing basis. In addition, the Exchange Agreement provides that if ScoutCam achieves US$33,000,000 in sales in the aggregate within the first three years immediately subsequent to the Closing, the Company will issue to Medigus additional shares of the Company’s common stock representing 10% of the Company’s issued and outstanding share capital as of the date of the Closing. |
Common Stock (Details Narrative
Common Stock (Details Narrative) | Jun. 03, 2019$ / sharesshares | May 01, 2019USD ($)$ / sharesshares | Sep. 30, 2019USD ($)shares | Mar. 31, 2019USD ($)shares |
Common stock, shares issued | 2,574,680 | 2,529,680 | ||
Common stock, shares outstanding | 2,574,680 | 2,529,680 | ||
Subscription receivable | $ | $ 300 | |||
Chief Financial Officer [Member] | ||||
Warrants to purchase shares | 30,000 | |||
Warrants exercise price | $ / shares | $ 0.01 | |||
Optima Service Agreement [Member] | ||||
Number of common stock issued | 15,000 | |||
Shares issued price per share | $ / shares | $ 0.10 | |||
Optima Service Agreement [Member] | Chief Financial Officer [Member] | ||||
Number of common stock issued | 15,000 | |||
Warrants to purchase shares | 90,000 | |||
Warrants exercise price | $ / shares | $ 0.01 | |||
Warrants fair value | $ | $ 8,164 | |||
Warrants vested amount | $ | $ 2,721 | |||
Optima Service Agreement [Member] | Chief Financial Officer [Member] | May 1, 2019 [Member] | ||||
Warrants to purchase shares | 30,000 | |||
Warrants vesting date | May 1, 2019 | |||
Optima Service Agreement [Member] | Chief Financial Officer [Member] | January 1, 2020 [Member] | ||||
Warrants to purchase shares | 30,000 | |||
Warrants vesting date | Jan. 1, 2020 | |||
Optima Service Agreement [Member] | Chief Financial Officer [Member] | January 1, 2021 [Member] | ||||
Warrants to purchase shares | 30,000 | |||
Warrants vesting date | Jan. 1, 2021 | |||
Service Agreement [Member] | Chief Financial Officer [Member] | Share Price [Member] | ||||
Warrants fair value measurement | 0.10 | |||
Service Agreement [Member] | Chief Financial Officer [Member] | Risk Free Interest Rate [Member] | ||||
Warrants fair value measurement | 2.47 | |||
Service Agreement [Member] | Chief Financial Officer [Member] | Dividend Yield [Member] | ||||
Warrants fair value measurement | 0 |
Notes Payable (Details Narrativ
Notes Payable (Details Narrative) - USD ($) | Jul. 04, 2019 | Apr. 04, 2019 | Mar. 20, 2019 | Nov. 02, 2018 | Aug. 24, 2018 | Jun. 26, 2018 | Jun. 06, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | Mar. 31, 2019 |
Promissory notes | $ 225,000 | $ 170,000 | ||||||||
Payments of notes payable | $ 41,000 | $ 10,000 | $ 51,000 | |||||||
Accrued interest | $ 5,655 | $ 3,321 | ||||||||
Amir Uziel [Member] | ||||||||||
Promissory notes | $ 10,000 | $ 10,000 | $ 10,000 | $ 15,000 | ||||||
Interest rate | 8.00% | 8.00% | 8.00% | 8.00% | ||||||
Debt due date | Sep. 30, 2019 | Sep. 30, 2019 | Sep. 30, 2019 | Sep. 30, 2019 | ||||||
Promissory note payable maturity description | Original maturity date of May 1, 2019 was extended on May 1, 2019 | Original maturity date of December 5, 2018 was extended on November 15, 2018 and again on May 1, 2019 | ||||||||
Lavi Krasney [Member] | ||||||||||
Promissory notes | $ 10,000 | $ 10,000 | $ 10,000 | $ 15,000 | ||||||
Interest rate | 8.00% | 8.00% | 8.00% | 8.00% | ||||||
Debt due date | Sep. 30, 2019 | Sep. 30, 2019 | Sep. 30, 2019 | Sep. 30, 2019 | ||||||
Promissory note payable maturity description | Original maturity date of May 1, 2019 was extended on May 1, 2019 | Original maturity date of December 5, 2018 was extended on November 15, 2018 and again on May 1, 2019 | ||||||||
L.I.A. Pure Capital Ltd [Member] | ||||||||||
Promissory notes | $ 10,000 | $ 10,000 | $ 10,000 | $ 15,000 | ||||||
Interest rate | 8.00% | 8.00% | 8.00% | 8.00% | ||||||
Debt due date | Sep. 30, 2019 | Sep. 30, 2019 | Sep. 30, 2019 | Sep. 30, 2019 | ||||||
Promissory note payable maturity description | Original maturity date of May 1, 2019 was extended on May 1, 2019 | Original maturity date of December 5, 2018 was extended on November 15, 2018 and again on May 1, 2019 | ||||||||
Nir Reinhold [Member] | ||||||||||
Promissory notes | $ 15,000 | $ 10,000 | $ 15,000 | |||||||
Interest rate | 8.00% | 8.00% | 8.00% | |||||||
Debt due date | Sep. 30, 2019 | Sep. 30, 2019 | Sep. 30, 2019 | |||||||
Promissory note payable maturity description | Original maturity date of May 1, 2019 was extended on May 1, 2019 | Original maturity date of December 5, 2018 was extended on November 15, 2018 and again on May 1, 2019 | ||||||||
Yaad Consulting & Management Services (1995) Ltd [Member] | ||||||||||
Promissory notes | $ 10,000 | $ 15,000 | $ 10,000 | $ 15,000 | ||||||
Interest rate | 8.00% | 8.00% | 8.00% | 8.00% | ||||||
Debt due date | Sep. 30, 2019 | Sep. 30, 2019 | Sep. 30, 2019 | Sep. 30, 2019 | ||||||
Promissory note payable maturity description | Original maturity date of May 1, 2019 was extended on May 1, 2019 | Original maturity date of December 5, 2018 was extended on November 15, 2018 and again on May 1, 2019 | ||||||||
Five Investors [Member] | ||||||||||
Promissory notes | $ 50,000 | $ 75,000 | ||||||||
Four Investors [Member] | ||||||||||
Promissory notes | $ 40,000 | $ 45,000 | ||||||||
Amir Uziel, Lavi Krasney, L.I.A. Pure Capital Ltd. Nir Reinhold and Yaad Consulting & Management Services (1995) Ltd [Member] | ||||||||||
Promissory notes | $ 225,000 | |||||||||
Debt due date | Sep. 30, 2019 |
Notes Payable - Schedule of Not
Notes Payable - Schedule of Notes Payable (Details) - USD ($) | Sep. 30, 2019 | Mar. 31, 2019 |
Notes payable | $ 225,000 | $ 170,000 |
Notes Payable One [Member] | ||
Notes payable | 15,000 | 15,000 |
Notes Payable Two [Member] | ||
Notes payable | 15,000 | 15,000 |
Notes Payable Three [Member] | ||
Notes payable | 15,000 | 15,000 |
Notes Payable Four [Member] | ||
Notes payable | 15,000 | 15,000 |
Notes Payable Five [Member] | ||
Notes payable | 15,000 | 15,000 |
Notes Payable Six [Member] | ||
Notes payable | 10,000 | 10,000 |
Notes Payable Seven [Member] | ||
Notes payable | 10,000 | 10,000 |
Notes Payable Eight [Member] | ||
Notes payable | 10,000 | 10,000 |
Notes Payable Nine [Member] | ||
Notes payable | 10,000 | 10,000 |
Notes Payable Ten [Member] | ||
Notes payable | 10,000 | 10,000 |
Notes Payable Eleven [Member] | ||
Notes payable | 10,000 | 10,000 |
Notes Payable Twelve [Member] | ||
Notes payable | 10,000 | 10,000 |
Notes Payable Thirteen [Member] | ||
Notes payable | 10,000 | 10,000 |
Notes Payable Fourteen [Member] | ||
Notes payable | 15,000 | 15,000 |
Notes Payable Fifteen [Member] | ||
Notes payable | 15,000 | |
Notes Payable Sixteen [Member] | ||
Notes payable | 10,000 | |
Notes Payable Seventeen [Member] | ||
Notes payable | 10,000 | |
Notes Payable Eighteen [Member] | ||
Notes payable | 10,000 | |
Notes Payable Nineteen [Member] | ||
Notes payable | $ 10,000 |
Notes Payable - Schedule of N_2
Notes Payable - Schedule of Notes Payable (Details) (Parenthetical) | 6 Months Ended | 12 Months Ended |
Sep. 30, 2019 | Mar. 31, 2019 | |
Notes Payable One [Member] | ||
Note payable interest rate | 8.00% | 8.00% |
Note payable due date | Sep. 30, 2019 | Sep. 30, 2019 |
Notes Payable Two [Member] | ||
Note payable interest rate | 8.00% | 8.00% |
Note payable due date | Sep. 30, 2019 | Sep. 30, 2019 |
Notes Payable Three [Member] | ||
Note payable interest rate | 8.00% | 8.00% |
Note payable due date | Sep. 30, 2019 | Sep. 30, 2019 |
Notes Payable Four [Member] | ||
Note payable interest rate | 8.00% | 8.00% |
Note payable due date | Sep. 30, 2019 | Sep. 30, 2019 |
Notes Payable Five [Member] | ||
Note payable interest rate | 8.00% | 8.00% |
Note payable due date | Sep. 30, 2019 | Sep. 30, 2019 |
Notes Payable Six [Member] | ||
Note payable interest rate | 8.00% | 8.00% |
Note payable due date | Sep. 30, 2019 | Sep. 30, 2019 |
Notes Payable Seven [Member] | ||
Note payable interest rate | 8.00% | 8.00% |
Note payable due date | Sep. 30, 2019 | Sep. 30, 2019 |
Notes Payable Eight [Member] | ||
Note payable interest rate | 8.00% | 8.00% |
Note payable due date | Sep. 30, 2019 | Sep. 30, 2019 |
Notes Payable Nine [Member] | ||
Note payable interest rate | 8.00% | 8.00% |
Note payable due date | Sep. 30, 2019 | Sep. 30, 2019 |
Notes Payable Ten [Member] | ||
Note payable interest rate | 8.00% | 8.00% |
Note payable due date | Sep. 30, 2019 | Sep. 30, 2019 |
Notes Payable Eleven [Member] | ||
Note payable interest rate | 8.00% | 8.00% |
Note payable due date | Sep. 30, 2019 | Sep. 30, 2019 |
Notes Payable Twelve [Member] | ||
Note payable interest rate | 8.00% | 8.00% |
Note payable due date | Sep. 30, 2019 | Sep. 30, 2019 |
Notes Payable Thirteen [Member] | ||
Note payable interest rate | 8.00% | 8.00% |
Note payable due date | Sep. 30, 2019 | Sep. 30, 2019 |
Notes Payable Fourteen [Member] | ||
Note payable interest rate | 8.00% | 8.00% |
Note payable due date | Sep. 30, 2019 | Sep. 30, 2019 |
Notes Payable Fifteen [Member] | ||
Note payable interest rate | 8.00% | 8.00% |
Note payable due date | Sep. 30, 2019 | Sep. 30, 2019 |
Notes Payable Sixteen [Member] | ||
Note payable interest rate | 8.00% | 8.00% |
Note payable due date | Sep. 30, 2019 | Sep. 30, 2019 |
Notes Payable Seventeen [Member] | ||
Note payable interest rate | 8.00% | 8.00% |
Note payable due date | Sep. 30, 2019 | Sep. 30, 2019 |
Notes Payable Eighteen [Member] | ||
Note payable interest rate | 8.00% | 8.00% |
Note payable due date | Sep. 30, 2019 | Sep. 30, 2019 |
Notes Payable Nineteen [Member] | ||
Note payable interest rate | 8.00% | 8.00% |
Note payable due date | Sep. 30, 2019 | Sep. 30, 2019 |
Related Party (Details Narrativ
Related Party (Details Narrative) | Jul. 04, 2019USD ($) | May 01, 2019USD ($)$ / sharesshares | Apr. 04, 2019USD ($) | Mar. 20, 2019USD ($) | Jan. 08, 2019USD ($)ft² | Nov. 02, 2018USD ($) | Jun. 06, 2018USD ($) | Sep. 30, 2019USD ($) | Sep. 30, 2018USD ($) | Sep. 30, 2019USD ($) | Sep. 30, 2018USD ($) | Jun. 03, 2019$ / sharesshares | Mar. 31, 2019USD ($) |
Promissory notes | $ 225,000 | $ 225,000 | $ 170,000 | ||||||||||
Professional fee per month | 48,785 | $ 11,224 | 82,230 | $ 19,333 | |||||||||
Chief Financial Officer [Member] | |||||||||||||
Warrants to purchase shares of common stock | shares | 30,000 | ||||||||||||
Warrant exercise price | $ / shares | $ 0.01 | ||||||||||||
Optima Service Agreement [Member] | Chief Financial Officer [Member] | |||||||||||||
Professional fee per month | $ 6,000 | ||||||||||||
Number of common stock shares issued services | shares | 15,000 | ||||||||||||
Warrant term | 3 years | ||||||||||||
Warrants to purchase shares of common stock | shares | 90,000 | ||||||||||||
Warrant exercise price | $ / shares | $ 0.01 | ||||||||||||
Optima Service Agreement [Member] | Chief Financial Officer [Member] | May 1, 2019 [Member] | |||||||||||||
Warrants to purchase shares of common stock | shares | 30,000 | ||||||||||||
Optima Service Agreement [Member] | Chief Financial Officer [Member] | January 1, 2020 [Member] | |||||||||||||
Warrants to purchase shares of common stock | shares | 30,000 | ||||||||||||
Optima Service Agreement [Member] | Chief Financial Officer [Member] | January 1, 2021 [Member] | |||||||||||||
Warrants to purchase shares of common stock | shares | 30,000 | ||||||||||||
Optima Service Agreement [Member] | Chief Financial Officer [Member] | Canna Patch Ltd., [Member] | |||||||||||||
Professional fee per month | $ 300 | ||||||||||||
Amir Uziel [Member] | |||||||||||||
Promissory notes | $ 10,000 | $ 10,000 | $ 10,000 | $ 15,000 | |||||||||
Interest rate | 8.00% | 8.00% | 8.00% | 8.00% | |||||||||
Debt due date | Sep. 30, 2019 | Sep. 30, 2019 | Sep. 30, 2019 | Sep. 30, 2019 | |||||||||
Lavi Krasney [Member] | |||||||||||||
Promissory notes | $ 10,000 | $ 10,000 | $ 10,000 | $ 15,000 | |||||||||
Interest rate | 8.00% | 8.00% | 8.00% | 8.00% | |||||||||
Debt due date | Sep. 30, 2019 | Sep. 30, 2019 | Sep. 30, 2019 | Sep. 30, 2019 | |||||||||
L.I.A. Pure Capital Ltd [Member] | |||||||||||||
Promissory notes | $ 10,000 | $ 10,000 | $ 10,000 | $ 15,000 | |||||||||
Interest rate | 8.00% | 8.00% | 8.00% | 8.00% | |||||||||
Debt due date | Sep. 30, 2019 | Sep. 30, 2019 | Sep. 30, 2019 | Sep. 30, 2019 | |||||||||
Yaad Consulting & Management Services (1995) Ltd [Member] | |||||||||||||
Promissory notes | $ 10,000 | $ 15,000 | $ 10,000 | $ 15,000 | |||||||||
Interest rate | 8.00% | 8.00% | 8.00% | 8.00% | |||||||||
Debt due date | Sep. 30, 2019 | Sep. 30, 2019 | Sep. 30, 2019 | Sep. 30, 2019 | |||||||||
Lease description | From January 8, 2019, to May 1, 2019 the Company had no office space. From May 1, 2019 the Company leases approximately 250 square feet of office space from Yaad, a shareholder, for its principal corporate offices in Tel Aviv, Israel for $ 140 per month under a month-to-month lease. | ||||||||||||
Area of land | ft² | 250 | ||||||||||||
Lease rent | $ 140 | ||||||||||||
Four Investors [Member] | |||||||||||||
Promissory notes | $ 40,000 | $ 45,000 | |||||||||||
Nir Reinhold [Member] | |||||||||||||
Promissory notes | $ 15,000 | $ 10,000 | $ 15,000 | ||||||||||
Interest rate | 8.00% | 8.00% | 8.00% | ||||||||||
Debt due date | Sep. 30, 2019 | Sep. 30, 2019 | Sep. 30, 2019 | ||||||||||
Five Investors [Member] | |||||||||||||
Promissory notes | $ 50,000 | $ 75,000 | |||||||||||
Amir Uziel, Lavi Krasney, L.I.A. Pure Capital Ltd. Nir Reinhold and Yaad Consulting & Management Services (1995) Ltd [Member] | |||||||||||||
Promissory notes | 225,000 | $ 225,000 | |||||||||||
Debt due date | Sep. 30, 2019 | ||||||||||||
Repayment of principal amount | $ 225,000 | ||||||||||||
Repayment of accrued interest | 14,894 | ||||||||||||
Optima Solutions Ltd [Member] | |||||||||||||
Promissory notes | $ 33,000 | $ 33,000 |