Tribus Enterprises 10-Q 13 Nov 20 2021 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Sep. 30, 2020	Nov. 13, 2020
Cover [Abstract]
Entity Registrant Name	Tribus Enterprises, Inc.
Entity Central Index Key	0001706573
Document Type	10-Q
Document Period End Date	Sep. 30, 2020
Amendment Flag	false
Current Fiscal Year End Date	--03-31
Entity File Number	333-197642
Entity Incorporation, State or Country Code	WA
Entity Reporting Status Current	No
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Common Stock, Shares Outstanding (in shares)		13,545,658
Entity Shell Company	false
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2021

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)	Sep. 30, 2020	Mar. 31, 2020
Current assets
Cash	$ 586,936	$ 150,741
Inventory, net of inventory valuation of $24,940 and $43,723, respectively (Note 6)	186,284	9,590
Prepaid expenses		15,511
Total current assets	773,220	175,842
Deposits	10,240	41,337
Right of use asset, operating leases	127,571	157,117
Equipment, net of accumulated depreciation of $423,950 and $389,638, respectively (Note 7)	1,441,045	1,265,559
Total assets	2,352,076	1,639,855
Current liabilities
Accounts payable and accrued liabilities	407,450	415,070
Interest payable		61,938
Deferred revenue (Note 5)	9,434	3,814
Operating lease liability, current (Note 9)	75,721	66,206
Finance lease, current (Note 11)	147,837	340,303
Loans payable, current (Note 10)	102,933	339,969
Total current liabilities	743,375	1,227,300
Operating lease liability, net of current portion (Note 9)	50,220	90,730
Finance lease, net of current portion (Note 11)	272,951	382,254
Loans payable, net of current portion (Note 10)	22,375	26,027
Total liabilities	1,088,921	1,726,311
Commitments and contingencies
Stockholders' equity
Common stock, $0.001 par value; 100,000,000 authorized; 13,545,658 and 7,360,858 issued and outstanding at June 30, 2020 and March 31, 2020, respectively (Note 8)	13,546	7,361
Additional paid in capital	5,457,888	3,600,752
Accumulated deficit	(4,232,929)	(3,718,479)
Total stockholders' equity	1,263,155	(86,456)
Total liabilities and stockholders' equity	2,352,076	1,639,855
Series A Convertible Preferred Stock [Member]
Stockholders' equity
Preferred stock	20,000	20,000
Total stockholders' equity	20,000	20,000
Series B Preferred Stock [Member]
Stockholders' equity
Preferred stock	4,650	3,910
Total stockholders' equity	$ 4,650	$ 3,910

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($)	Sep. 30, 2020	Mar. 31, 2020
Inventory valuation	$ 24,940	$ 43,723
Accumulated depreciation	$ 423,950	$ 389,638
Preferred stock, issued		3,910,000
Preferred stock, outstanding		3,910,000
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, authorized	100,000,000	100,000,000
Common stock, issued	13,545,658	7,360,858
Common stock, outstanding	13,545,658	7,360,858
Series A Convertible Preferred Stock [Member]
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, authorized	20,000,000	20,000,000
Preferred stock, issued	19,999,998	19,999,998
Preferred stock, outstanding	19,999,998	19,999,998
Series B Preferred Stock [Member]
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, authorized	5,000,000	5,000,000
Preferred stock, issued	4,649,800	3,910,000
Preferred stock, outstanding	4,649,800	3,910,000

UNAUDITED CONDENSED CONSOLIDATE

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)	3 Months Ended		6 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Income Statement [Abstract]
Revenue	$ 5,345		$ 12,799
Cost of goods sold	7,907		85,475
Gross margin	(2,562)		(72,676)
Operating expenses
Employee costs	83,224	32,436	129,751	90,881
Professional fees	19,396	58,088	30,394	118,108
General and administrative	45,648	54,829	82,133	143,403
Facilities	28,518	25,911	53,196	44,929
Research and development			12,781	9,765
Depreciation expense	24,564	123,682	104,551	189,410
Total operating expenses	201,350	294,946	412,806	596,496
Net loss from operations	(203,912)	(294,946)	(485,482)	(596,496)
Other income (expense)
Other income/(expense), net	(103,694)	12,300	42,749	21,628
Gain/(loss) on sale of equipment	110,980		(34,147)	(1,752)
Interest expense	(1,541)	(62,109)	(37,570)	(123,533)
Total other income (expense)	5,745	(49,809)	(28,968)	(103,657)
Income tax
Net and comprehensive loss	$ (198,167)	$ (344,755)	$ (514,450)	$ (700,153)
Net loss per share, basic and diluted (in dollars per share)	$ (0.01)	$ (0.05)	$ (0.04)	$ (0.1)
Weighted average shares outstanding, basic and diluted (in shares)	13,545,658	7,263,119	12,596,775	7,224,421

UNAUDITED CONDENSED CONSOLIDA_2

UNAUDITED CONDENSED CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY - USD ($)	Series A Convertible Preferred Stock [Member]	Series B Preferred Stock [Member]	Common Stock [Member]	Additional Paid In Capital [Member]	Accumulated Deficit [Member]	Total
Balance at Mar. 31, 2019	$ 20,000	$ 1,366	$ 7,185	$ 1,818,694	$ (1,407,042)	$ 440,203
Balance (in shares) at Mar. 31, 2019	19,999,998	1,365,625	7,184,858
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Series B preferred stock issued for cash		$ 312		249,188		249,500
Series B preferred stock issued for cash (in shares)		311,875
Common stock issued for cash			$ 4	996		1,000
Common stock issued for cash (in shares)			4,000
Net loss					(355,398)	(355,398)
Balance at Jun. 30, 2019	$ 20,000	$ 1,678	$ 7,189	2,068,878	(1,762,440)	335,305
Balance (in shares) at Jun. 30, 2019	19,999,998	1,677,500	7,188,858
Balance at Mar. 31, 2019	$ 20,000	$ 1,366	$ 7,185	1,818,694	(1,407,042)	440,203
Balance (in shares) at Mar. 31, 2019	19,999,998	1,365,625	7,184,858
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Direct Incremental Costs
Net loss						(700,153)
Balance at Sep. 30, 2019	$ 20,000	$ 2,053	$ 7,277	2,467,193	(2,107,195)	389,328
Balance (in shares) at Sep. 30, 2019	19,999,998	2,052,500	7,276,858
Balance at Jun. 30, 2019	$ 20,000	$ 1,678	$ 7,189	2,068,878	(1,762,440)	335,305
Balance (in shares) at Jun. 30, 2019	19,999,998	1,677,500	7,188,858
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Series B preferred stock issued for cash		$ 375		299,625		300,000
Series B preferred stock issued for cash (in shares)		375,000
Common stock issued for cash			$ 88	21,912		22,000
Common stock issued for cash (in shares)			88,000
Shareholder cash contribution				3,040		3,040
Shareholder forgiveness of wages payable				73,738		73,738
Net loss					(344,755)	(344,755)
Balance at Sep. 30, 2019	$ 20,000	$ 2,053	$ 7,277	2,467,193	(2,107,195)	389,328
Balance (in shares) at Sep. 30, 2019	19,999,998	2,052,500	7,276,858
Balance at Mar. 31, 2020	$ 20,000	$ 3,910	$ 7,361	3,600,752	(3,718,479)	(86,456)
Balance (in shares) at Mar. 31, 2020	19,999,998	3,910,000	7,360,858
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Series B preferred stock issued for cash		$ 740		517,120		517,860
Common stock issued for cash			$ 6,185	1,540,016		1,546,201
Common stock issued for cash (in shares)			6,184,800
Direct Incremental Costs				(200,000)		(200,000)
Net loss					(316,283)	(316,283)
Balance at Jun. 30, 2020	$ 20,000	$ 4,650	$ 13,546	5,457,888	(4,034,762)	1,461,322
Balance (in shares) at Jun. 30, 2020	19,999,998	4,649,800	13,545,658
Balance at Mar. 31, 2020	$ 20,000	$ 3,910	$ 7,361	3,600,752	(3,718,479)	(86,456)
Balance (in shares) at Mar. 31, 2020	19,999,998	3,910,000	7,360,858
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common stock issued for cash (in shares)		739,800
Direct Incremental Costs						(200,000)
Net loss						(514,450)
Balance at Sep. 30, 2020	$ 20,000	$ 4,650	$ 13,546	5,457,888	(4,232,929)	1,263,155
Balance (in shares) at Sep. 30, 2020	19,999,998	4,649,800	13,545,658
Balance at Jun. 30, 2020	$ 20,000	$ 4,650	$ 13,546	5,457,888	(4,034,762)	1,461,322
Balance (in shares) at Jun. 30, 2020	19,999,998	4,649,800	13,545,658
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss					(198,167)	(198,167)
Balance at Sep. 30, 2020	$ 20,000	$ 4,650	$ 13,546	$ 5,457,888	$ (4,232,929)	$ 1,263,155
Balance (in shares) at Sep. 30, 2020	19,999,998	4,649,800	13,545,658

UNAUDITED CONDENSED CONSOLIDA_3

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	6 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Cash flows from operating activities
Net loss	$ (514,450)	$ (700,153)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation	146,447	208,507
Inventory Allowance	24,940
Gain/(loss) on sale of equipment	34,561	1,751
Changes in operating assets and liabilities:
Prepaid expenses	15,511	18,500
Deposits	31,097
Accounts payable and accrued liabilities	(7,620)	122,453
Interest payable	(61,938)	63,034
Deferred rent	1,247	(2,448)
Deferred revenue	4,373	19,252
Inventory	(201,634)	(59,380)
Sub lease security deposit	3,200
Net cash used in operating activities	(524,266)	(328,484)
Cash flows from investing activities
Purchase of equipment	(416,347)	(428)
Sale of equipment	370,000
Net cash provided by (used in) investing activities	(46,347)	(428)
Cash flows from financing activities
Repayments of capital leases	(436,029)	(32,676)
Payments on operating lease liability	(30,995)	(19,540)
Repayments of loans payable	(401,332)	(126,339)
Proceeds from CARES Act Loan	14,304
Shareholder Contribution	(3,200)	3,040
Proceeds from sale of common stock	1,546,200	23,000
Proceeds from the sale of series B preferred stock	517,860	549,500
Payments of direct incremental costs associated with the sale of stock	(200,000)
Net cash provided by financing activities	1,006,808	396,985
Cash, beginning of period	150,741	33,970
Net change in cash	436,195	68,073
Cash, end of period	586,936	102,043
Supplemental cash flow information
Cash paid for interest	99,508	60,499
Cash paid for income taxes
Supplemental disclosure of non-cash financing activities
Capital leases entered into for purchase of equipment	265,980
Loan entered into for purchase of equipment	$ 146,340	$ 564,398

NATURE OF OPERATIONS AND ORGANI

NATURE OF OPERATIONS AND ORGANIZATION	6 Months Ended
	Sep. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
NATURE OF OPERATIONS AND ORGANIZATION	NOTE 1 – NATURE OF OPERATIONS AND ORGANIZATION The Company was incorporated in the State of Washington on March 29, 2017 for the purpose of developing, designing, manufacturing and distributing hand tools. Upon incorporation, the Company entered into a share exchange agreement with Tribus Innovations, LLC (“Tribus Innovations”) and acquired all of the outstanding ownership interests of Tribus Innovations. Tribus Innovations was formed on December 1, 2015. The transaction was accounted for as a reverse merger and these financial statements present the historical financial information of Tribus Innovations from its inception and include the financial information of the Company from the completion of the share exchange agreement on March 29, 2017. Tribus Enterprises, Inc. has invented and patented a new technology that changes the way technicians do their jobs. The Company’s line of wrenches literally cuts the time some jobs take from three to four hours to mere minutes. The Company has completed the design and research and development of four lines of wrenches. After a redesign which improved the strength of the wrenches, production of three of the four lines started in April 2020. While the Company has realized minimal sales to date the initial reactions from customers and market influencers from those sales have been extremely positive. The Company is now ready to increase both marketing and production efforts.

UNAUDITED CONDENSED CONSOLIDA_4

UNAUDITED CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS	6 Months Ended
	Sep. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
UNAUDITED CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS	NOTE 2 – UNAUDITED CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS The accompanying unaudited condensed consolidated interim financial statements have been prepared by the Company without audit. In the opinion of management, all adjustments (which include only normal recurring adjustments) necessary to present fairly the financial position, results of operations, and cash flows for the periods ended September 30, 2020 and for all periods presented herein, have been made. Certain information and footnote disclosures normally included in consolidated financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted. It is suggested that these condensed consolidated financial statements be read in conjunction with the financial statements and notes thereto included in the Company’s March 31, 2020 audited financial statements. The results of operations for the periods ended September 30, 2020 are not necessarily indicative of the operating results for the full year. These consolidated financial statements include the accounts of the Company and its wholly owned subsidiary, Tribus Innovations LLC. All intercompany balances and transactions are eliminated on consolidation. 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 at the date of the consolidated financial statements and the reported amounts of revenue and expenses during the reported period. Actual results could differ from those estimates. Management further acknowledges that it is solely responsible for adopting sound accounting practices, establishing and maintaining a system of internal accounting control and preventing and detecting fraud. The Company’s system of internal accounting control is designed to assure, among other items, that (1) recorded transactions are valid; (2) all valid transactions are recorded and (3) transactions are recorded in the period in a timely manner to produce financial statements which present fairly the financial condition, results of operations and cash flows of the company for the respective periods being presented.

GOING CONCERN

GOING CONCERN	6 Months Ended
	Sep. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
GOING CONCERN	NOTE 3 – GOING CONCERN The Company's financial statements are prepared using accounting principles generally accepted in the United States of America applicable to a going concern, which contemplates the realization of assets and liquidation of liabilities in the normal course of business. However, the Company does not have significant cash or other current assets, nor does it have an established source of revenues sufficient to cover its operating costs which raises substantial doubt regarding the Company’s ability to continue as a going concern. Under the going concern assumption, an entity is ordinarily viewed as continuing in business for the foreseeable future with neither the intention nor the necessity of liquidation, ceasing trading, or seeking protection from creditors pursuant to laws or regulations. Accordingly, assets and liabilities are recorded on the basis that the entity will be able to realize its assets and discharge its liabilities in the normal course of business. The ability of the Company to continue as a going concern is dependent upon its ability to successfully execute its plans and eventually attain profitable operations. The accompanying financial statements do not include any adjustments that may be necessary if the Company is unable to continue as a going concern. During the next year, the Company’s foreseeable cash requirements will relate to continual development of the operations of its business, maintaining its good standing and making the requisite filings with the Securities and Exchange Commission, and the payment of expenses associated with research and development. The Company may experience a cash shortfall and be required to raise additional capital. Historically, it has mostly relied upon internally generated funds and funds from the sale of shares of stock to finance its operations and growth. Management may raise additional capital through future public or private offerings of the Company’s stock or through loans from private investors, although there can be no assurance that it will be able to obtain such financing. The Company’s failure to do so could have a material and adverse effect upon it and its shareholders.

REVENUE RECOGNITION

REVENUE RECOGNITION	6 Months Ended
	Sep. 30, 2020
Revenue Recognition and Deferred Revenue [Abstract]
REVENUE RECOGNITION	NOTE 4 – REVENUE RECOGNITION The Company follows Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 606, Revenue from Contracts with Customers The Company offers a limited lifetime warranty for manufacturing defects only on product sold. Due to sales recently occurring, the Company is unable to reasonably estimate future costs that will be incurred under its lifetime warranty program on revenue recognized as of September 30, 2020. However, the Company anticipates the amounts associated with revenues recognized as of September 30, 2020 to be immaterial to the financial statements. The Company recognized revenues of $5,345 and $0 during the three months ended September 30, 2020 and 2019, respectively and $12,799 and $0 during the six months ended September 30, 2020 and 2019, respectively.

DEFERRED REVENUE

DEFERRED REVENUE	6 Months Ended
	Sep. 30, 2020
Revenue from Contract with Customer [Abstract]
DEFERRED REVENUE	NOTE 5 - DEFERRED REVENUE Deferred revenue represents revenues collected but not earned as of September 30, 2020. This is primarily composed of rent or sales revenue received in advance of goods or services being delivered. The balance of deferred revenue was $9,434 and $3,814 as of September 30, 2020 and March 31, 2020, respectively.

INVENTORY

INVENTORY	6 Months Ended
	Sep. 30, 2020
Inventory Disclosure [Abstract]
INVENTORY	NOTE 6 - INVENTORY The Company recognizes the cost of inventory through cost of goods sold as product is shipped to customers on an average cost basis . The value of inventory is carried at the lower of cost or market of raw materials purchased to manufacture the finished goods, direct labor associated with manufacturing and certain overhead related to the manufacturing facility. As of September 30, 2020, the Company’s finished goods inventory balance was $36,131. This balance is recorded net of inventory valuation of $24,940 in order to bring the value of finished goods inventory to the lower of cost or market. In addition, the Company had $106,847 in work in process inventory, $20,474 in raw material inventory, $43,604 in tooling inventory and $4,168 in packaging inventory as of September 30, 2020. The March 31, 2020 inventory balance of $9,590 was all raw materials.

EQUIPMENT

EQUIPMENT	6 Months Ended
	Sep. 30, 2020
Property, Plant and Equipment [Abstract]
EQUIPMENT	NOTE 7 – EQUIPMENT Property and equipment are stated at cost. Depreciation is computed using the average cost method over the estimated useful lives of the assets, which range from 3 to 10 years. Leasehold improvements are amortized over the shorter of the useful life of the related assets or the lease term. Expenditures for repairs and maintenance are charged to expense as incurred. For assets sold or otherwise disposed of, the cost and related accumulated depreciation are removed from the accounts, and any related gain or loss is reflected in income for the period. In July, a review of the Company’s useful lives for Machinery and Equipment resulted in a change in estimate that increased the useful lives from five to ten years. This determination was based on industry standards and management’s knowledge of the equipment and historical and future use of the equipment. The change in estimate was made prospectively. Leased assets included in Machinery and Equipment are all expected to transfer ownership to the Company at the end of the lease, thus depreciation is on useful life rather than the shorter of the lease term or useful life. During the period ending June 30, 2020, one piece of equipment was paid off at a negotiated lower amount than the original finance lease. At June 30, 2020, the difference between the original finance lease obligation and the settled amount was booked as forgiveness of debt. A reclassification entry was made in the period ending September 30, 2020 to reclass the amount forgiven from forgiveness of debt to instead reduce the book value of the asset pursuant to ASC 842-20-40-2. As of September 30, 2020, the Company’s equipment net of accumulated depreciation was $1,441,045 and $1,265,559 as of March 31, 2020.

CAPITAL STOCK

CAPITAL STOCK	6 Months Ended
	Sep. 30, 2020
Equity [Abstract]
CAPITAL STOCK	NOTE 8 – CAPITAL STOCK Authorized The Company is authorized to issue up to 20,000,000 shares of $0.001 par value Series A Preferred Stock, 5,000,000 shares of $0.001 par value Series B Preferred Stock and 100,000,000 shares of $0.001 par value Common Stock. The holders of the Series A Preferred Stock are entitled to 10 votes for each share held. Each share of Series A Preferred Stock is convertible into 10 shares of Common Stock at the discretion of the Company’s directors. In the event that there is a change of control transaction, each share of Series A Preferred Stock is convertible into 10 shares of Common Stock at the option of the holder. The holders of the Series A Preferred Stock are entitled to participate in dividends. Dividends are non-cumulative and are at the discretion of the Company’s directors. The holders of the Series B Preferred Stock are entitled to 4 votes for each share held. Each share of Series B Preferred Stock is convertible into 4 shares of Common Stock at the discretion of the stockholder. The holders of the Series B Preferred Stock are entitled to participate in dividends. Dividends are non-cumulative and are at the discretion of the Company’s directors. Issued During the three months ended September 30, 2020, the Company did not issue any common stock. During the six months ended September 30, 2020, the Company accepted stock subscriptions to issue a total of 6,184,800 shares of common stock at $0.25 per share resulting in total cash proceeds of $1,546,201. Of this amount, 6,148,560 shares of common stock were issued to related parties for total cash proceeds of $1,537,140. During the three months ended September 30, 2020, the Company did not issue any preferred stock. During the six months ended September 30, 2020, the Company issued a total of 739,800 shares of Series B Convertible Preferred Stock for total cash proceeds of $517,860. All was issued to related parties. Additionally, the Company paid approximately $200,000 to a related party as a finders’ fee in conjunction with the sale of equity investments. The finder’s fee is considered a direct incremental cost associated with the sale of the stock and as such is treated as a reduction to the proceeds and, accordingly as an offset to additional paid in capital. There were 19,999,998; 4,649,800 and 13,545,658 shares of Series A Convertible Preferred Stock, Series B Preferred Stock and Common Stock issued and outstanding as of September 30, 2020. There were 19,999,998, 3,910,000 and 7,360,858 shares of Series A Convertible Preferred Stock, Series B Preferred Stock and Common Stock issued and outstanding as of March 31, 2020.

OPERATING LEASES

OPERATING LEASES	6 Months Ended
	Sep. 30, 2020
Leases [Abstract]
OPERATING LEASES	NOTE 9 – OPERATING LEASES On March 23, 2017, the Company entered into a lease agreement for the rent of warehouse space that terminates on April 30, 2022 which was amended on May 20, 2017. Additionally, on March 12, 2019, the Company entered into an additional lease for the rent of warehouse space that terminates on March 31, 2022. On April 1, 2019, the Company recorded a right of use asset and operating lease liability totaling $207,359 using an imputed interest rate of 25% on its operating leases, equal to the approximate weighted average interest rate imputed on the Company’s existing capital leases. During the six months ended September 30, 2020, the Company made total principal payments on operating leases of $30,995. There was a total operating lease liability of $125,940 as of September 30, 2020 of which $75,721 was current and $50,220 was long term. The leases require future minimum payments as shown below: Year ending March 31, 2021 $ 49,164 2022 99,725 2023 4,321 Total payments 153,210 Less: imputed interest (27,270 ) Operating lease liability, total $ 125,940 On May 8, 2019, the Company entered into a sublease agreement whereby it will sublet a portion of its space for a period of twelve months commencing on May 1, 2019. The sublease requires a prorated amount of rent of $1,800 for May 2019 followed by eleven monthly payments of $4,100 through April 2020. On May 28, 2020, a new sublease agreement was entered into for a period of 23 months commencing on June 1, 2020. The sublease requires monthly rental payments of $1,200. On May 11, 2020, the Company entered into a separate sublease agreement whereby it will sublet a portion of its space for a period of 24 months commencing on May 1, 2020. The sublease requires monthly rental payments of $1,875. In addition, a verbal agreement was entered into on a month to month basis for additional space to sublet as needed for a monthly rental payment of $1,510. The Company records sublease payments received as other income in the statement of operations. Sublease income of $17,643 and $21,300 was recognized during the six months ended September 30, 2020 and 2019, respectively. The Company has not been released from its obligations under the master lease and accounts for rental income from subleases on a straight-line basis monthly. As of September 30, 2020, the sublease did not impair the right of use asset recorded as part of the master lease agreement. The subleases provide future income as shown below: Year ending March 31, 2021 18,450 2022 36,900 2023 3,075 Other income from subleases, total $ 58,425

LOANS PAYABLE

LOANS PAYABLE	6 Months Ended
	Sep. 30, 2020
Debt Disclosure [Abstract]
LOANS PAYABLE	NOTE 10 – LOANS PAYABLE As of March 31, 2020, the Company had outstanding two separate loan agreements to purchase equipment totaling $407,644, each with no stated interest rate. • The first loan was for equipment valued at $270,604 and required $27,990 down with six monthly payments of $5,000 and a balloon payment of $221,910 unless otherwise negotiated prior to maturity. During the three months ended December 31, 2019, the Company renegotiated the note to require monthly payments of $5,000 until paid in full, removing the balloon payment. During the three months ended June 30, 2020 this loan was paid in full. • The second loan was for equipment valued at $137,040 and required $5,000 down with 6 monthly payments of $1,000 and a balloon payment of $126,040 unless otherwise negotiated prior to maturity. During the three months ended December 31, 2019, the Company renegotiated the note to require monthly payments of $5,000 until paid in full, removing the balloon payment. During the three months ended June 30, 2020 this loan was paid in full. On April 28, 2020, the Company entered into an agreement to purchase equipment totaling $146,340. The agreement required $29,268 down with six monthly payments of $5,000 and the remaining balance due thereafter. During the six months ending September 30, 2020, the Company made $20,000 in payments and applied an additional $13,500 toward the loan. As of September 30, 2020, there was a total of $83,572 due all of which is current. On June 1, 2019, the Company entered into a loan to borrow $34,222 to purchase a vehicle. As part of the agreement, the Company traded in its existing vehicle for total consideration of $19,464 resulting in a net loss recorded on the asset of $1,751. The loan carries interest at a rate of 6.59% per annum and matures in September 2025. As of September 30, 2020, there was a total of $27,431 due of which $5,057 was current. Total loans outstanding at September 30, 2020 were $125,308 of which $102,933 was current and $22,375 was long term.

FINANCING LEASES PAYABLE

FINANCING LEASES PAYABLE	6 Months Ended
	Sep. 30, 2020
Leases [Abstract]
FINANCING LEASES PAYABLE	NOTE 11 – FINANCING LEASES PAYABLE In February 206, the FASB issued ASU 2016-02, Leases (Topic 842), Leases, Topic 842 Topic 840 The Company accounts for financing leases in accordance with ASC 842. As of September 30,2020, the Company had two outstanding long-term leases for equipment that grants the Company the option to purchase the underlying asset at lease termination that the Company is reasonably certain to exercise. The Company determined this was a financing lease based on the reasonable certainty the Company will exercise its right to purchase the underlying assets and capitalized the net present value of the lease. • The first finance lease is for equipment which totaled $275,950. The leases require total monthly payments of $5,369. As of September 30, 2020, there was a total of $187,916 of future payments due through August 2023 of which $33,108 are financing charges leaving a total principal balance of $154,808. Of the total principal balance due, $50,606 was current and $104,202 was long term as September 30, 2020. • The second finance lease is for equipment which totaled $332,475. The lease required a down payment of $66,495 and then lease payments of $11,393.02 starting January 2021. As of September 30, 2020, there was a total of $273,432 of future payments due through December 2022 of which $7,452 are financing charges leaving a total principal balance of $265,980. Of the total principal balance due, $97,231 was current and $168,749 was long term as September 30, 2020. During the period ending June 30, 2020, four pieces of equipment were sold and the balances on the associated finance leases were settled at lowered amounts. In addition, one piece of equipment was paid off at a negotiated lower amount than the original finance lease. At June 30, 2020, the difference between the original finance lease obligations and the settled amounts were booked as forgiveness of debt. For the equipment that was sold a reclassification entry was made in the period ending September 30, 2020 to reclass this amount from forgiveness of debt to gain on sale of asset pursuant to ASC 842-20-40-2. In addition, for the piece of equipment that is still in use by the Company a reclassification entry was made in the period ending September 30, 2020 to reclass the amount forgiven from forgiveness of debt to instead reduce the book value of the asset pursuant to ASC 842-20-40-2. Future annual payments required under the capital lease through termination are as follows: Principal Interest Total Year ended March 31, 2021 53,294 13,099 66,393 2022 183,058 18,087 201,145 2023 158,468 8,497 166,965 2023 25,968 877 26,845 Total $ 420,788 $ 40,560 $ 461,348

LEGAL PROCEEDINGS

LEGAL PROCEEDINGS	6 Months Ended
	Sep. 30, 2020
Commitments and Contingencies Disclosure [Abstract]
LEGAL PROCEEDINGS	NOTE 12 – LEGAL PROCEEDINGS During the year ended March 31, 2020, the Company was a party to two separate lawsuits. The company settled each lawsuit on June 19, 2020 that required a cash settlement totaling $140,750 which was included in accounts payable and accrued liabilities as of March 31, 2020. The settlement was paid in full on June 19, 2020.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	6 Months Ended
	Sep. 30, 2020
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	NOTE 13 – SUBSEQUENT EVENTS The Company evaluated all events occurring subsequent to September 30, 2020 and through the date of this filing and determined there were no additional disclosures required.

OPERATING LEASES (Tables)

OPERATING LEASES (Tables)	6 Months Ended
	Sep. 30, 2020
Leases [Abstract]
Schedule of leases require future minimum payments	The leases require future minimum payments as shown below: Year ending March 31, 2021 $ 49,164 2022 99,725 2023 4,321 Total payments 153,210 Less: imputed interest (27,270 ) Operating lease liability, total $ 125,940
Schedule of other income from subleases	The subleases provide future income as shown below: Year ending March 31, 2021 18,450 2022 36,900 2023 3,075 Other income from subleases, total $ 58,425

FINANCING LEASES PAYABLE (Table

FINANCING LEASES PAYABLE (Tables)	6 Months Ended
	Sep. 30, 2020
Leases [Abstract]
Schedule of future annual payments	Future annual payments required under the capital lease through termination are as follows: Principal Interest Total Year ended March 31, 2021 53,294 13,099 66,393 2022 183,058 18,087 201,145 2023 158,468 8,497 166,965 2023 25,968 877 26,845 Total $ 420,788 $ 40,560 $ 461,348

REVENUE RECOGNITION (Details Na

REVENUE RECOGNITION (Details Narrative) - USD ($)	3 Months Ended		6 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Revenue Recognition and Deferred Revenue [Abstract]
Revenue	$ 5,345		$ 12,799

DEFERRED REVENUE (Details Narra

DEFERRED REVENUE (Details Narrative) - USD ($)	Sep. 30, 2020	Mar. 31, 2020
Revenue from Contract with Customer [Abstract]
Deferred revenue	$ 9,434	$ 3,814

INVENTORY (Details Narrative)

INVENTORY (Details Narrative) - USD ($)	Sep. 30, 2020	Mar. 31, 2020
Inventory Disclosure [Abstract]
Inventory valuation	$ 24,940	$ 43,723
Finished goods	36,131
Work in process	106,847
Raw materials	20,474	$ 9,590
Tooling inventory	43,604
Packaging inventory	$ 4,168

EQUIPMENT (Details Narrative)

EQUIPMENT (Details Narrative) - USD ($)	1 Months Ended	6 Months Ended
	Jul. 31, 2020	Sep. 30, 2020	Mar. 31, 2020
Equipment net of accumulated depreciation		$ 423,950	$ 389,638
Minimum [Member]
Property and equipment, useful life	5 years	3 years
Maximum [Member]
Property and equipment, useful life	10 years	10 years

CAPITAL STOCK (Details Narrativ

CAPITAL STOCK (Details Narrative)	6 Months Ended
	Sep. 30, 2020USD ($)Number$ / sharesshares	Sep. 30, 2019USD ($)	Mar. 31, 2020$ / sharesshares
Common stock, par value (in dollars per share) | $ / shares	$ 0.001		$ 0.001
Common stock, authorized	100,000,000		100,000,000
Common stock, outstanding	13,545,658		7,360,858
Proceeds from issuance of common stock | $	$ 1,546,200	$ 23,000
Preferred stock, issued			3,910,000
Common stock, issued	13,545,658		7,360,858
Preferred stock, outstanding			3,910,000
Series A Convertible Preferred Stock [Member]
Preferred stock, voting rights | Number	10
Number of conversion of convertible shares	10
Preferred stock, issued	19,999,998		19,999,998
Preferred stock, outstanding	19,999,998		19,999,998
Preferred stock, par value (in dollars per share) | $ / shares	$ 0.001		$ 0.001
Preferred stock, authorized	20,000,000		20,000,000
Series B Preferred Stock [Member]
Preferred stock, voting rights | Number	4
Number of conversion of convertible shares	4
Number of stock issued	739,800
Proceeds from issuance of convertible preferred stock | $	$ 517,860
Preferred stock, issued	4,649,800		3,910,000
Preferred stock, outstanding	4,649,800		3,910,000
Preferred stock, par value (in dollars per share) | $ / shares	$ 0.001		$ 0.001
Preferred stock, authorized	5,000,000		5,000,000
Commo Stock Subscriber [Member] | Subscription Agreements [Member]
Common stock, par value (in dollars per share) | $ / shares	$ 0.25
Number of shares subscribed	6,184,800
Proceeds from issuance of common stock | $	$ 1,546,201
Related Parties [Member]
Proceeds from issuance of common stock | $	$ 1,537,140
Common stock, issued	6,148,560
Sale of Equity Instrument [Member]
Expenses from transactions with related party | $	$ 200,000

OPERATING LEASES (Details)

OPERATING LEASES (Details)	Sep. 30, 2020USD ($)
Year ending March 31,
2021	$ 49,164
2022	99,725
2023	4,321
Total payments	153,210
Less: imputed interest	(27,270)
Operating lease liability, total	$ 125,940

OPERATING LEASES (Details 1)

OPERATING LEASES (Details 1)	Sep. 30, 2020USD ($)
Leases [Abstract]
2021	$ 18,450
2022	36,900
2023	3,075
Other income from subleases, total	$ 58,425

OPERATING LEASES (Details Narra

OPERATING LEASES (Details Narrative) - USD ($)	May 28, 2020	May 11, 2020	May 08, 2019	May 31, 2019	Sep. 30, 2020	Sep. 30, 2019	Mar. 31, 2020	Apr. 02, 2019
Operating lease liability right of use asset					$ 127,571		$ 157,117	$ 207,359
Operating lease liability					125,940
Operating lease, imputed interest rate								25.00%
Operating leases payments					30,995
Operating lease liability, current					75,721		66,206
Operating lease liability, net of current portion					50,220		$ 90,730
Other Nonoperating Income (Expense) [Member]
Sublease income					$ 17,643	$ 21,300
Sublease Agreement [Member]
Operating sublease, monthly rental payments		$ 1,875		$ 4,100
Operating sublease, portion of rent				$ 1,800
Operating sublease, rent for additional space		$ 1,510
Sublease maturity terms		24 months	12 months
Sublease commencing date		May 1, 2020	May 1, 2019
Sublease payment terms				11 months
Sublease maturity date				Apr. 30, 2020
New Sublease Agreement [Member]
Operating sublease, monthly rental payments	$ 1,200
Sublease maturity terms	23 months
Sublease commencing date	Jun. 1, 2020

LOANS PAYABLE (Details Narrativ

LOANS PAYABLE (Details Narrative) - USD ($)	Jun. 01, 2019	Dec. 31, 2019	Sep. 30, 2020	Sep. 30, 2019	Apr. 28, 2020	Mar. 31, 2020
Secured debt			$ 125,308
Proceeds from sale of property plant and equipment			370,000
Gain (loss) on disposition of property plant equipment			(34,561)	$ (1,751)
Secured long-term debt, noncurrent			22,375			$ 26,027
Secured debt, current			102,933			339,969
Vehicles [Member]
Proceeds from sale of property plant and equipment	$ 19,464
Gain (loss) on disposition of property plant equipment	$ 1,751
First Loan Agreements [Member]
Debt periodic payment		$ 5,000	5,000
Debt face amount			270,604
Periodic payment terms balloon payment to be paid			221,910
First Loan Agreements [Member] | Equipment [Member]
Payments to acquire property plant and equipment down payment			27,990
Loan Agreement [Member]
Debt periodic payment			20,000
Debt face amount					$ 146,340
Secured long-term debt, noncurrent			83,572
Secured debt, current			13,500		$ 29,268
Verbal Loan Agreements [Member]
Debt face amount						$ 407,644
Second Loan Agreements [Member]
Debt periodic payment		$ 5,000	1,000
Debt face amount			137,040
Payments to acquire property plant and equipment down payment			5,000
Periodic payment terms balloon payment to be paid			126,040
6.59% Loan Payable Due On September 2025 [Member]
Interest rate	6.59%
Debt face amount	$ 34,222
Secured long-term debt, noncurrent			27,431
Secured debt, current			$ 5,057

FINANCING LEASES PAYABLE (Detai

FINANCING LEASES PAYABLE (Details)	Sep. 30, 2020USD ($)
2021	$ 66,393
2022	201,145
2023	166,965
2023	26,845
Total	461,348
Capital Lease [Member]
2021	53,294
2022	183,058
2023	158,468
2023	25,968
Total	420,788
Interest Payable [Member]
2021	13,099
2022	18,087
2023	8,497
2023	877
Total	$ 40,560

FINANCING LEASES PAYABLE (Det_2

FINANCING LEASES PAYABLE (Details Narrative)	Jan. 21, 2021USD ($)	Sep. 30, 2020USD ($)Number
Capital leases future minimum payments present value of net minimum payments		$ 461,348
First Capital Lease Obligations [Member]
Capital leased assets, number of units | Number		2
Capitalized contract cost net, current		$ 275,950
Debt instrument periodic payment		5,369
Capital leases future minimum payments present value of net minimum payments		187,916
Capital leases future minimum payments interest included in payments		33,108
Capital Leases future minimum payments, net minimum payments		154,808
Capital lease obligations, current		50,606
Capital lease obligations, noncurrent		104,202
Second Capital Lease Obligations [Member]
Capitalized contract cost net, current		332,475
Debt instrument periodic payment		66,495
Capital leases future minimum payments present value of net minimum payments		273,432
Capital leases future minimum payments interest included in payments		7,452
Capital Leases future minimum payments, net minimum payments		265,980
Capital lease obligations, current		97,231
Capital lease obligations, noncurrent		$ 168,749
Lease payment	$ 11,393

LEGAL PROCEEDINGS (Details Narr

LEGAL PROCEEDINGS (Details Narrative)	Jun. 19, 2020USD ($)
Commitments and Contingencies Disclosure [Abstract]
Cash settlement	$ 140,750