Cover
Cover - shares | 9 Months Ended | |
Dec. 31, 2021 | Feb. 11, 2022 | |
Cover [Abstract] | ||
Document Type | 10-Q/A | |
Amendment Flag | true | |
Amendment Description | This Amendment is being filed to update the Subsquent Events Note | |
Document Quarterly Report | true | |
Document Transition Report | false | |
Document Period End Date | Dec. 31, 2021 | |
Document Fiscal Period Focus | Q3 | |
Document Fiscal Year Focus | 2022 | |
Current Fiscal Year End Date | --03-31 | |
Entity File Number | 000-11882 | |
Entity Registrant Name | B2Digital, Incorporated | |
Entity Central Index Key | 0000725929 | |
Entity Tax Identification Number | 84-0916299 | |
Entity Incorporation, State or Country Code | DE | |
Entity Address, Address Line One | 4522 West Village Drive | |
Entity Address, Address Line Two | Suite 215 | |
Entity Address, City or Town | Tampa | |
Entity Address, State or Province | FL | |
Entity Address, Postal Zip Code | 33624 | |
City Area Code | (813) | |
Local Phone Number | 961-3051 | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 1,722,817,434 |
Consolidated Balance Sheets (Un
Consolidated Balance Sheets (Unaudited) - USD ($) | Dec. 31, 2021 | Mar. 31, 2021 |
Current assets | ||
Cash and cash equivalents | $ 9,195 | $ 122,176 |
Deposits and prepaid expenses | 67,693 | 10,681 |
Total current assets | 76,888 | 132,857 |
Notes receivable & other receivables | 35,400 | 35,400 |
Operating lease right-of-use asset | 1,649,163 | 1,575,792 |
Property and equipment, net of accumulated depreciation | 1,193,276 | 944,999 |
Intangible assets, net of accumulated amortization | 192,634 | 224,890 |
Total Assets | 3,147,361 | 2,913,938 |
Current liabilities | ||
Accounts payable & accrued liabilities | 401,971 | 213,663 |
Deferred revenue | 64,736 | 119,504 |
Note payable- current maturity | 295,600 | 158,200 |
Note payable- in default | 14,000 | 14,000 |
Due to shareholder | 1,800 | 0 |
Payable due for business acquisitions | 0 | 40,000 |
Convertible notes payable, net of debt discount | 4,281,617 | 1,074,733 |
Derivative liabilities | 2,199,087 | 1,137,623 |
Lease liability, current | 426,212 | 0 |
Total current liabilities | 7,685,024 | 3,021,888 |
Lease liability, long-term | 1,298,530 | 1,319,457 |
Note payable- long-term | 78,573 | 105,929 |
Total Liabilities | 9,062,127 | 4,447,274 |
Stockholders' Deficit | ||
Common stock, $0.00001 par value; 5,000,000,000 shares authorized; 1,630,799,526 and 1,081,390,550 shares issued and outstanding at December 31, 2021 and March 31, 2021, respectively. (This includes 10,000,000 shares in treasury repurchased for $50,000) | 15,979 | 10,815 |
Additional paid in capital | 9,577,723 | 7,652,677 |
Accumulated deficit | (15,508,888) | (9,197,248) |
Total Stockholders' Deficit | (5,914,766) | (1,533,336) |
Total Liabilities and Stockholders' Deficit | 3,147,361 | 2,913,938 |
Series A Preferred Stock [Member] | ||
Stockholders' Deficit | ||
Preferred stock, 50,000,000 shares authorized, 8,000,000 shares are undesignated | 20 | 20 |
Series B Preferred Stock [Member] | ||
Stockholders' Deficit | ||
Preferred stock, 50,000,000 shares authorized, 8,000,000 shares are undesignated | $ 400 | $ 400 |
Consolidated Balance Sheets (_2
Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($) | Dec. 31, 2021 | Mar. 31, 2021 |
Preferred stock shares authorized | 50,000,000 | 50,000,000 |
Preferred stock undesignated | 8,000,000 | 8,000,000 |
Common stock par value | $ 0.00001 | $ 0.00001 |
Common stock shares authorized | 5,000,000,000 | 5,000,000,000 |
Common stock shares issued | 1,630,799,526 | 1,081,390,550 |
Common stock shares outstanding | 1,630,799,526 | 1,081,390,550 |
Treasury Stock, Common, Shares | 10,000,000 | 10,000,000 |
Treasury Stock, Common, Value | $ 50,000 | $ 50,000 |
Series A Preferred Stock [Member] | ||
Preferred Stock, Shares Issued | 2,000,000 | 2,000,000 |
Preferred Stock, Shares Outstanding | 2,000,000 | 2,000,000 |
Series B Preferred Stock [Member] | ||
Preferred Stock, Shares Issued | 40,000,000 | 40,000,000 |
Preferred Stock, Shares Outstanding | 40,000,000 | 40,000,000 |
Consolidated Statements of Oper
Consolidated Statements of Operations (Unaudited) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2021 | Dec. 31, 2020 | |
Revenue: | ||||
Total revenue | $ 612,632 | $ 300,549 | $ 1,841,407 | $ 496,497 |
Cost of sales | 388,263 | 102,722 | 919,447 | 151,941 |
Gross profit | 224,369 | 197,827 | 921,960 | 344,556 |
General and administrative expenses | ||||
General & administrative expenses | 2,299,300 | 1,147,001 | 5,707,667 | 1,986,918 |
Depreciation and amortization expense | 102,713 | 52,516 | 289,232 | 119,371 |
Total general and administrative corporate expenses | 2,402,013 | 1,199,517 | 5,996,899 | 2,106,289 |
Loss from continuing operations | (2,177,644) | (1,001,690) | (5,074,939) | (1,761,733) |
Other income (expense): | ||||
Gain on forgiveness of loan | 0 | 0 | 23,303 | 10,080 |
Gain on bargain purchase | 0 | 91,870 | 0 | 91,870 |
Gain (loss) on sale of assets | 887 | 0 | (640) | 0 |
Grant income | 0 | 0 | 0 | 2,000 |
Financing expense | (136,170) | 0 | (136,170) | 0 |
Loss on settlement of debt | 0 | 0 | 0 | (18,281) |
Loss on forgiveness of notes receivable | 0 | 0 | (2,094) | 0 |
Gain (loss) on extinguishment of debt | 72,592 | (6,670) | 209,258 | (70,864) |
Change in fair value of derivatives | (66,894) | 194,758 | (421,836) | (592,649) |
Day one derivative loss | (45,485) | (125,408) | (45,485) | (125,408) |
Interest expense | (340,403) | (131,016) | (863,037) | (278,030) |
Total other income (expense) | (515,473) | 23,534 | (1,236,701) | (981,282) |
Net loss | $ (2,693,117) | $ (978,156) | $ (6,311,640) | $ (2,743,015) |
Basic and diluted earnings per share on net loss | $ 0 | $ 0 | $ 0 | $ 0 |
Weighted average shares outstanding - Basic | 1,452,481,989 | 710,522,374 | 1,341,287,504 | 619,783,280 |
Live Events [Member] | ||||
Revenue: | ||||
Total revenue | $ 263,782 | $ 82,524 | $ 782,544 | $ 112,901 |
Gym [Member] | ||||
Revenue: | ||||
Total revenue | $ 348,850 | $ 218,025 | $ 1,058,863 | $ 383,596 |
Consolidated Statement of Chang
Consolidated Statement of Changes in Stockholders Deficit (Unaudited) - USD ($) | Preferred Stock Series A [Member] | Preferred Stock Series B [Member] | Common Stock [Member] | Treasury Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Total |
Beginning balance, value at Mar. 31, 2020 | $ 20 | $ 5,394 | $ 3,600,197 | $ (3,816,978) | $ (211,367) | ||
Beginning balance, shares at Mar. 31, 2020 | 2,000,000 | 539,267,304 | |||||
Issuance of common stock for services | $ 40 | 14,360 | 14,400 | ||||
Issuance of common stock for services, shares | 4,000,000 | ||||||
Conversion of notes payable | $ 163 | 55,459 | 55,622 | ||||
Conversion of Notes Payable ,shares | 16,292,915 | ||||||
Net loss | (495,506) | (495,506) | |||||
Ending balance, value at Jun. 30, 2020 | $ 20 | $ 5,597 | 3,670,016 | (4,312,484) | (636,851) | ||
Ending balance, shares at Jun. 30, 2020 | 2,000,000 | 559,560,219 | |||||
Beginning balance, value at Mar. 31, 2020 | $ 20 | $ 5,394 | 3,600,197 | (3,816,978) | (211,367) | ||
Beginning balance, shares at Mar. 31, 2020 | 2,000,000 | 539,267,304 | |||||
Net loss | (2,743,015) | ||||||
Ending balance, value at Dec. 31, 2020 | $ 20 | $ 400 | $ 7,309 | 5,376,861 | (6,559,993) | (1,175,403) | |
Ending balance, shares at Dec. 31, 2020 | 2,000,000 | 40,000,000 | 730,864,213 | ||||
Beginning balance, value at Jun. 30, 2020 | $ 20 | $ 5,597 | 3,670,016 | (4,312,484) | (636,851) | ||
Beginning balance, shares at Jun. 30, 2020 | 2,000,000 | 559,560,219 | |||||
Sale of common stock | $ 620 | 464,380 | 465,000 | ||||
Sale of common stock, shares | 62,000,002 | ||||||
Issuance of common stock for services | $ 117 | 74,816 | 74,933 | ||||
Issuance of common stock for services, shares | 11,733,333 | ||||||
Conversion of notes payable | $ 256 | 434,579 | 434,835 | ||||
Conversion of Notes Payable ,shares | 25,663,705 | ||||||
Net loss | (1,269,353) | (1,269,353) | |||||
Ending balance, value at Sep. 30, 2020 | $ 20 | $ 6,590 | 4,643,791 | (5,581,837) | (931,436) | ||
Ending balance, shares at Sep. 30, 2020 | 2,000,000 | 658,957,259 | |||||
Stock issued for compensation | $ 400 | 319,600 | 320,000 | ||||
Stock issued for compensation, shares | 40,000,000 | ||||||
Equity offering costs | (566,261) | (566,261) | |||||
Warrants issued for offering costs | 566,261 | 566,261 | |||||
Conversion of notes payable | $ 719 | 413,470 | 414,189 | ||||
Conversion of Notes Payable ,shares | 71,906,954 | ||||||
Net loss | (978,156) | (978,156) | |||||
Ending balance, value at Dec. 31, 2020 | $ 20 | $ 400 | $ 7,309 | 5,376,861 | (6,559,993) | (1,175,403) | |
Ending balance, shares at Dec. 31, 2020 | 2,000,000 | 40,000,000 | 730,864,213 | ||||
Beginning balance, value at Mar. 31, 2021 | $ 20 | $ 400 | $ 10,815 | 7,652,677 | (9,197,248) | (1,533,336) | |
Beginning balance, shares at Mar. 31, 2021 | 2,000,000 | 40,000,000 | 1,081,390,550 | ||||
Sale of common stock | $ 2,200 | 877,800 | 880,000 | ||||
Sale of common stock, shares | 220,000,000 | ||||||
Issuance of common stock for services | $ 55 | 23,595 | 23,650 | ||||
Issuance of common stock for services, shares | 5,500,000 | ||||||
Issuance of convertible notes | 2,080 | 2,080 | |||||
Net loss | (1,061,347) | (1,061,347) | |||||
Ending balance, value at Jun. 30, 2021 | $ 20 | $ 400 | $ 13,070 | 8,556,152 | (10,258,595) | (1,688,953) | |
Ending balance, shares at Jun. 30, 2021 | 2,000,000 | 40,000,000 | 1,306,890,550 | ||||
Beginning balance, value at Mar. 31, 2021 | $ 20 | $ 400 | $ 10,815 | 7,652,677 | (9,197,248) | (1,533,336) | |
Beginning balance, shares at Mar. 31, 2021 | 2,000,000 | 40,000,000 | 1,081,390,550 | ||||
Net loss | (6,311,640) | ||||||
Ending balance, value at Dec. 31, 2021 | $ 20 | $ 400 | $ 15,979 | (10,000,000) | 9,577,723 | (15,508,888) | (5,914,766) |
Ending balance, shares at Dec. 31, 2021 | 2,000,000 | 40,000,000 | 1,630,799,526 | ||||
Beginning balance, value at Jun. 30, 2021 | $ 20 | $ 400 | $ 13,070 | 8,556,152 | (10,258,595) | (1,688,953) | |
Beginning balance, shares at Jun. 30, 2021 | 2,000,000 | 40,000,000 | 1,306,890,550 | ||||
Sale of common stock | $ 750 | 299,250 | 300,000 | ||||
Sale of common stock, shares | 75,000,000 | ||||||
Issuance of common stock for services | |||||||
Issuance of convertible notes | |||||||
Net loss | (2,557,176) | (2,557,176) | |||||
Ending balance, value at Sep. 30, 2021 | $ 20 | $ 400 | $ 13,820 | 8,855,402 | (12,815,771) | (3,946,129) | |
Ending balance, shares at Sep. 30, 2021 | 2,000,000 | 40,000,000 | 1,381,890,550 | ||||
Sale of common stock | $ 113 | 44,887 | 45,000 | ||||
Sale of common stock, shares | 11,250,000 | ||||||
Issuance of common stock in connection with notes payable | $ 49 | 21,475 | 21,524 | ||||
Issuance of common stock in connection with notes payable, shares | 37,900,000 | ||||||
Issuance of common stock upon conversion of notes payable | $ 1,152 | 471,104 | 472,256 | ||||
Issuance of common stock upon conversion of notes payable, shares | 115,258,976 | ||||||
Issuance of common stock for services | $ 990 | 291,410 | 292,400 | ||||
Issuance of common stock for services, shares | 99,000,000 | ||||||
Shares repurchased | $ (145) | (10,000,000) | (106,555) | (106,700) | |||
Shares repurchased, shares | (14,500,000) | ||||||
Net loss | (2,693,117) | (2,693,117) | |||||
Ending balance, value at Dec. 31, 2021 | $ 20 | $ 400 | $ 15,979 | $ (10,000,000) | $ 9,577,723 | $ (15,508,888) | $ (5,914,766) |
Ending balance, shares at Dec. 31, 2021 | 2,000,000 | 40,000,000 | 1,630,799,526 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows (Unaudited) - USD ($) | 9 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Cash Flows from Operating Activities | ||
Net Loss | $ (6,311,640) | $ (2,743,015) |
Adjustments to reconcile net loss to net cash used by operating activities: | ||
Stock compensation | 316,050 | 409,333 |
Depreciation and amortization expense | 289,232 | 119,371 |
Gain on forgiveness of loan | (23,303) | 0 |
Financing expense | 136,170 | 0 |
Loss on settlement of debt | 0 | 18,281 |
Gain on settlement of debt | 0 | (10,080) |
Loss on extinguishment of debt | 0 | 70,864 |
Loss on forgiveness of notes receivable | 2,094 | 0 |
Gain on extinguishment of debt | (209,258) | 0 |
Gain on bargain purchase | 0 | (91,870) |
Loss of sale of assets | 640 | 0 |
Amortization of debt discount | 665,080 | 212,103 |
Day one derivative loss | 45,485 | 125,408 |
Changes in fair value of compound embedded derivative | 421,836 | 592,649 |
Right- of- use asset/liability | 67,750 | 2,047 |
Changes in operating assets & liabilities | ||
Prepaid expenses | (57,012) | (4,417) |
Inventory | 0 | 5,236 |
Accounts payable and accrued liabilities | 147,964 | 90,154 |
Related party (advances) repayment | 1,800 | 29,630 |
Deferred revenue | (54,768) | 68,539 |
Net cash used by operating activities | (4,561,880) | (1,105,767) |
Cash Flows from Investing Activities | ||
Business acquisition | (165,000) | (114,110) |
Capital expenditures | (412,892) | (178,028) |
Net cash used by investing activities | (577,892) | (292,138) |
Cash Flows from Financing Activities | ||
Proceeds from notes payable | 150,000 | 122,766 |
Proceeds from convertible notes payable | 4,178,506 | 865,000 |
Repayments related to payable due for business combinations | 0 | (15,000) |
Repayments of convertible notes payable | (432,363) | 0 |
Repayment of notes payable | (19,653) | 0 |
Payment to note payable | 0 | (11,818) |
Stock repurchases | (74,700) | 0 |
Issuance of common stock (less treasury stock of $50,000) | 1,225,000 | 465,000 |
Net cash provided by financing activities | 5,026,790 | 1,425,948 |
(Decrease) increase in Cash | (112,981) | 28,043 |
Cash at beginning of period | 122,176 | 46,729 |
Cash (and equivalents) at end of period | 9,195 | 74,772 |
Supplemental Cash Flow Information | ||
Cash paid for interest | 9,534 | 0 |
Non-cash investing and financing activities: | ||
Conversion of note payable to equity | $ 242,400 | $ 303,212 |
Consolidated Statements of Ca_2
Consolidated Statements of Cash Flows (Unaudited) (Parenthetical) - USD ($) | 9 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Statement of Cash Flows [Abstract] | ||
Proceeds from sale of treasury stock | $ 50,000 | $ 50,000 |
ORGANIZATION AND NATURE OF BUSI
ORGANIZATION AND NATURE OF BUSINESS | 9 Months Ended |
Dec. 31, 2021 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
ORGANIZATION AND NATURE OF BUSINESS | NOTE 1 - ORGANIZATION AND NATURE OF BUSINESS We are the premier development league for mixed martial arts (“MMA”). We operate in two major branded segments: The B2 Fighting Series and The ONE More Gym Official B2 Training Facilities Network. We primarily derive revenues from live event ticket sales, pay-per-view ticket sales, content media marketing, and fitness facility memberships. Our Live Events segment (the B2 Fighting Series) is primarily engaged with scheduling, organizing, and producing live MMA events, marketing those events, and generating both live audience and PPV ticket sales, as well as creatively marketing the archived content generated through its operations in this segment. We also plan to generate additional revenues over time from endorsement deals with global brands as its audience grows. The B2 Fighting Series is licensed in 20 U.S, states to operate LIVE MMA Fights. Most B2 Fighting Series events sell out at the gate. We now operate at a pace of more than 40 events per year. Our Chairman and CEO is now Greg P. Bell. Mr. Bell has over 30 years of global experience developing more than 20 companies in the sports, television, entertainment, digital distribution and banking transaction industries. Capitalizing on the combination of his expertise, relationships and experience as well as his involvement with more than 40,000 live events over his career for major sports leagues and entertainment venues, we are in the process of developing and acquiring companies to become a premier vertically integrated live event sports company. Our Fitness Facility segment operates primarily through the ONE More Gym Official B2 Training Facilities Network. We currently operate five ONE More Gym locations, with plans to continue to scale up this segment at a pace of 4-8 new locations per year. ONE More Gym locations include specialized MMA training resources and serve a recruiting function for the Company's Live Events segment. Basis of Presentation and Consolidation The Company has ten wholly-owned subsidiaries. Hardrock Promotions LLC which owns Hardrock MMA in Kentucky, United Combat League MMA LLC, Pinnacle Combat LLC, Strike Hard Productions, LLC, ONE More Gym LLC, One More Gym Merrillville LLC, One More Gym Valparaiso LLC, One More Gym Tuscaloosa LLC, One More Gym Birmingham, Inc. and B2 Productions LLC. The consolidated financial statements, which include the accounts of the Company and its ten wholly-owned subsidiaries, are prepared in conformity with generally accepted accounting principles in the United States of America (“U.S. GAAP”). All significant intercompany balances and transactions have been eliminated. The consolidated financial statements, which include the accounts of the Company and its ten wholly-owned subsidiaries, and related disclosures have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). The Financial Statements have been prepared using the accrual basis of accounting in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and presented in U.S. dollars. The fiscal year end is March 31. |
ACCOUNTING POLICIES
ACCOUNTING POLICIES | 9 Months Ended |
Dec. 31, 2021 | |
Accounting Policies [Abstract] | |
ACCOUNTING POLICIES | NOTE 2 - ACCOUNTING POLICIES The significant accounting policies of the Company are as follows: Basis of Accounting The interim consolidated financial statements are condensed and should be read in conjunction with the Company’s latest annual financial statements; interim disclosures generally do not repeat those in the annual statements. The interim unaudited consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“GAAP”). In the opinion of management, the unaudited interim consolidated financial statements reflect all adjustments of a normal recurring nature that are necessary for a fair presentation of the results for the interim periods presented. Interim results are not necessarily indicative of results for a full year. Use of Estimates Management uses estimates and assumptions in preparing financial statements. Those estimates and assumptions affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities, and the reported revenues and expenses. The most significant assumptions and estimates relate to the valuation of derivative liabilities and the valuation of assets and liabilities acquired through business combinations. Actual results could differ from these estimates and assumptions. Cash and Cash Equivalents The Company considers all highly liquid investments with a maturity of three months or less when purchased to be cash equivalents. The Company maintains deposits primarily in four financial institutions, which may at times exceed amounts covered by insurance provided by the U.S. Federal Deposit Insurance Corporation (“FDIC”). The Company has not experienced any losses related to amounts in excess of FDIC limits or $250,000. The Company did no Fair Value of Financial Instruments The Company’s financial instruments consist primarily of accounts payable and accrued liabilities. The carrying amounts of such financial instruments approximate their respective estimated fair value due to the short-term maturities and approximate market interest rates of these instruments. The three levels of valuation hierarchy are defined as follows: Level 1 Level 2 Level 3 The Company analyzes all financial instruments with features of both liabilities and equity under ASC 480, “Distinguishing Liabilities from Equity,” and ASC 815. Property and Equipment Property and equipment are carried at cost. Depreciation is provided on the straight-line method over the assets’ estimated service lives. Expenditures for maintenance and repairs are charged to expense in the period in which they are incurred, and betterments are capitalized. The cost of assets sold or abandoned and the related accumulated depreciation are eliminated from the accounts and any gains or losses are reflected in the accompanying consolidated statement of operations of the respective period. The estimated useful lives range from 3 to 7 years Other income During the nine months ended December 31, 2021, and December 31, 2020, the Company received $ 0 2,000 Revenue Recognition Revenue is recognized when a customer obtains control of promised goods or services. In addition, the standard requires disclosure of the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers. The amount of revenue that is recorded reflects the consideration that the Company expects to receive in exchange for those goods. The Company applies the following five-step model in order to determine this amount: (i) identification of the promised goods in the contract; (ii) determination of whether the promised goods are performance obligations, including whether they are distinct in the context of the contract; (iii) measurement of the transaction price, including the constraint on variable consideration; (iv) allocation of the transaction price to the performance obligations; and (v) recognition of revenue when (or as) the Company satisfies each performance obligation. The Company only applies the five-step model to contracts when it is probable that the entity will collect the consideration it is entitled to in exchange for the goods or services it transfers to the customer. Once a contract is determined to be within the scope of Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 606 at contract inception, the Company reviews the contract to determine which performance obligations the Company must deliver and which of these performance obligations are distinct. The Company recognizes as revenues the amount of the transaction price that is allocated to the respective performance obligation when the performance obligation is satisfied or as it is satisfied. The majority of revenues are received from ticket and beverage sales before and during the live events. Sponsorship revenue is also recognized when the live event takes place. Any revenue received for events that have yet to take place are recorded in deferred revenue. Income Taxes The Company follows Section 740-10-30 of the FASB ASC, which requires recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the consolidated financial statements or tax returns. Under this method, deferred tax assets and liabilities are based on the differences between the consolidated financial statement and tax bases of assets and liabilities using enacted tax rates in effect for the fiscal year in which the differences are expected to reverse. Deferred tax assets are reduced by a valuation allowance to the extent management concludes it is more likely than not that the assets will not be realized. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the fiscal years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in the consolidated Statements of Operations in the period that includes the enactment date. Through December 31, 2021, the Company has an expected loss. Due to uncertainty of realization for these losses, a full valuation allowance is recorded. Accordingly, no provision has been made for federal income taxes in the accompanying consolidated financial statements. Concentration of Credit Risk Financial instruments that potentially subject the Company to concentrations of credit risk are cash, accounts receivable and other receivables arising from its normal business activities. The Company places its cash in what it believes to be credit-worthy financial institutions. The Company controls credit risk related to accounts receivable through credit approvals, credit limits and monitoring procedures. The Company routinely assesses the financial strength of its customers and, based upon factors surrounding the credit risk, establishes an allowance, if required, for uncollectible accounts and, as a consequence, believes that its accounts receivable credit risk exposure beyond such allowance is limited. In addition, Receivables that are factored through the Company's Receivable finance facility are guaranteed by the finance company that further mitigates Credit Risk. Impairment of Long-Lived Assets In accordance with ASC 360-10, the Company, on a regular basis, reviews the carrying amount of long-lived assets for the existence of facts or circumstances, both internally and externally, that suggest impairment. The Company determines if the carrying amount of a long-lived asset is impaired based on anticipated undiscounted cash flows, before interest, from the use of the asset. In the event of impairment, a loss is recognized based on the amount by which the carrying amount exceeds the fair value of the asset. Fair value is determined based on appraised value of the assets or the anticipated cash flows from the use of the asset, discounted at a rate commensurate with the risk involved. There were no impairment charges recorded during the nine months ended December 31, 2021, and 2020, respectively. Earnings Per Share (EPS) The Company utilize FASB ASC 260, Earnings per Share 1,372,797,202 The following table sets forth the computation of basic and diluted earnings per share for the nine months ended December 31, 2021, and 2020: Schedule of Earnings Per Share, Basic and Diluted December 31, 2021 December 31, 2020 Basic and diluted Net loss $ (6,311,640 ) $ (2,743,015 ) Net loss per share Basic $ (0.00 ) $ (0.00 ) Diluted $ (0.00 ) $ (0.00 ) Weighted average number of shares outstanding: Basic 1,341,287,504 619,783,280 Stock Based Compensation The Company records stock-based compensation in accordance with the provisions of FASB ASC Topic 718, Accounting for Stock Compensation Topic 718, the Company recognizes an expense for the fair value of its stock awards at the time of grant and the fair value of its outstanding stock options and stock awards, whether held by employees or others. As of December 31, 2021, there were no 99,000,000 On June 20, 2018, the FASB issued ASU 2018-07, Compensation—Stock Compensation (Topic 718) Recently Adopted Accounting Pronouncements In August 2020, the FASB issued ASU 2020-06, Debt-Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging – Contracts in Entity’s Own Equity (Subtopic 815-40) – Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity. The ASU simplifies accounting for convertible instruments by removing major separation models required under current GAAP. Consequently, more convertible debt instruments will be reported as a single liability instrument with no separate accounting for embedded conversion features. The ASU removes certain settlement conditions that are required for equity contracts to qualify for the derivative scope exception, which will permit more equity contracts to qualify for the exception. The ASU also simplifies the diluted net income per share calculation in certain areas. The new guidance is effective for fiscal years beginning after December 15, 2023, including interim periods within those fiscal years, and early adoption is permitted. The Company is currently evaluating the impact of the adoption of the standard on the consolidated financial statements. The Company has implemented all new accounting pronouncements that are in effect. These pronouncements did not have any material impact on the consolidated financial statements unless otherwise disclosed, and the Company does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its financial position or results of operations. |
GOING CONCERN
GOING CONCERN | 9 Months Ended |
Dec. 31, 2021 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
GOING CONCERN | NOTE 3 – GOING CONCERN The accompanying consolidated financial statements have been prepared on a going concern basis. For the nine months ended December 31, 2021, the Company had a net loss of $ (6,311,640) 4,561,880 7,608,136 15,508,888 5,914,766 |
REVENUE
REVENUE | 9 Months Ended |
Dec. 31, 2021 | |
Revenue from Contract with Customer [Abstract] | |
REVENUE | NOTE 4 – REVENUE The Company recognizes as revenues the amount of the transaction price that is allocated to the respective performance obligation when the performance obligation is satisfied or as it is satisfied. Live event revenue primarily includes ticket and beverage sales before and during the live events. Sponsorship revenue is also recognized when the live event takes place. Any revenue received for events that have yet to take place are recorded in deferred revenue. Gym revenue comprises primarily of membership dues and subscription. Other gym revenue includes personal training, group fitness and meal planning. Information about the Company’s net sales by revenue type for the three and nine months ended December 31, 2021, and 2020 are as follows: Schedule of net sales by revenue type For the three months ended December 31, December 31, 2021 (Unaudited) 2020 (Unaudited) Live events $ 263,782 $ 82,524 Gym revenue 348,850 218,025 Total revenue $ 612,632 $ 300,549 For the nine months ended December 31, December 31, 2021 (Unaudited) 2020 (Unaudited) Live events $ 782,544 $ 112,901 Gym revenue 1,058,863 383,596 Total revenue $ 1,841,407 $ 496,497 |
PROPERTY AND EQUIPMENT
PROPERTY AND EQUIPMENT | 9 Months Ended |
Dec. 31, 2021 | |
Property, Plant and Equipment [Abstract] | |
PROPERTY AND EQUIPMENT | NOTE 5 – PROPERTY AND EQUIPMENT Property and equipment, net, consisted of the following as of December 31, 2021, and March 31, 2021: Schedule of property and equipment As of As of December 31, 2021 March 31, 2021 Gym equipment $ 533,253 $ 420,880 Cages 151,009 132,350 Event assets 116,088 92,117 Furniture and fixtures 16,765 16,766 Production truck gear 11,740 11,740 Production equipment 60,888 32,875 Venue lighting system 38,266 37,250 Leasehold improvements 215,643 43,712 Electronics hardware and software 164,921 124,624 Trucks trailers and vehicles 234,533 197,921 1,543,106 1,110,235 Less: accumulated depreciation (349,830 ) (165,236 ) $ 1,193,276 $ 944,999 Depreciation expense related to these assets for the nine months ended December 31, 2021, and 2020 amounted to $ 210,663 70,025 |
INTANGIBLE ASSETS
INTANGIBLE ASSETS | 9 Months Ended |
Dec. 31, 2021 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
INTANGIBLE ASSETS | NOTE 6 – INTANGIBLE ASSETS Intangible assets, net, consisted of the following as of December 31, 2021, and March 31, 2021: Schedule of intangible assets As of As of December 31, 2021 March 31, 2021 Licenses $ 142,248 $ 142,248 Software/website development 12,585 12,585 Customer relationships 216,343 170,031 371,176 324,864 Less: accumulated amortization (178,542 ) (99,974 ) $ 192,634 $ 224,890 Licenses are amortized over five years, whereas customer relationships and software/website development are amortized over three years. Amortization expense related to these assets for the nine months ended December 31, 2021, and 2020 amounted to $ 78,569 49,346 Estimated amortization expense for each of the next four years: Schedule of amortization expense Fiscal year ended March 31, 2022 $ 26,189 Fiscal year ended March 31, 2023 97,842 Fiscal year ended March 31, 2024 61,532 Fiscal year ended March 31, 2025 7,071 Total $ 192,634 |
BUSINESS ACQUISITIONS
BUSINESS ACQUISITIONS | 9 Months Ended |
Dec. 31, 2021 | |
Business Acquisitions | |
BUSINESS ACQUISITIONS | NOTE 7 – BUSINESS ACQUISITIONS Club Fitness, LLC On April 1, 2021, the Company entered into an agreement for the acquisition of 100% of the equity interest in Club Fitness LLC. The purchase price was $ 125,000 Schedule of business combination purchase allocation Consideration Cash $ 125,000 Fair values of identifiable net assets: Property & equipment: Gym equipment $ 76,689 Intangible assets: Customer relationships 46,311 Total fair value of identifiable net assets $ 125,000 The Company analyzed the acquisition under applicable guidance and determined that the acquisition should be accounted for as a business combination. The fair value of the net identifiable assets consisted of gym equipment of $ 76,689 46,311 |
NOTES PAYABLE
NOTES PAYABLE | 9 Months Ended |
Dec. 31, 2021 | |
Notes Payable | |
NOTES PAYABLE | NOTE 8 - NOTES PAYABLE The following is a summary of notes payable as of December 31, 2021, and March 31, 2021: Schedule of notes payable As of As of December 31, March 31, 2021 2021 Notes payable - current maturity: Note Payable PPP SBA Loan $ – $ 15,600 SBA EIDL Loan 10,000 10,000 SBA Loan Payable B2Digital 97,200 97,200 GS Capital, LLC 153,000 – Notes payable – in default: Emry Capital $14,000, 4% loan with principal and interest due April, 2020 14,000 14,000 Notes payable – long term: WLES LP LLC $60,000, 5% loan due January 15, 2022 30,000 30,000 Brian Cox 401K – 12,882 SBA Loan (Hillcrest) 35,400 35,400 SBA Loan (One More Gym, LLC) 48,573 63,047 Total notes payable 388,173 278,129 Less: long-term (78,573 ) (105,929 ) Total $ 309,600 $ 172,200 During the nine months ended December 31, 2021, the Company incurred $ 15,018 During the nine months ended December 31, 2021, the Company repaid $ 12,881 During the nine months ended December 31, 2021, the bank forgave $ 6,634 1,069 7,703 During the nine months ended December 31, 2021, the bank forgave the Company’s PPP loan of $ 15,600 15,600 |
CONVERTIBLE NOTE PAYABLE
CONVERTIBLE NOTE PAYABLE | 9 Months Ended |
Dec. 31, 2021 | |
Debt Disclosure [Abstract] | |
CONVERTIBLE NOTE PAYABLE | NOTE 9 – CONVERTIBLE NOTE PAYABLE The following is a summary of convertible notes payable as of December 31, 2021: Schedule of convertible notes payable Note* Issuance Date Maturity Coupon Face Value Unamortized Discount Carrying Value Note 6 2/19/2020 4/18/2022 8 45,800 – 45,800 Note 7 3/10/2020 4/18/2022 8 85,800 – 85,800 Note 8 8/4/2020 4/18/2022 8 156,000 – 156,000 Note 9 10/2/2020 4/18/2022 8 205,000 – 205,000 Note 10 10/15/2020 4/18/2022 8 172,000 – 172,000 Note 11 11/2/2020 4/18/2022 8 69,000 – 69,000 Note 12 11/12/2020 4/18/2022 8 69,000 – 69,000 Note 14 12/10/2020 4/18/2022 8 80,000 – 80,000 Note 16 1/14/2021 4/18/2022 8 107,000 3,648 103,352 Note 17 1/27/2021 4/18/2022 8 60,000 2,595 57,405 Note 20 4/30/2021 4/30/2022 8 104,000 1,351 102,649 Note 21 5/25/2021 5/25/2022 8 104,000 2,578 101,422 Note 22 6/24/2021 6/24/2022 8 185,652 31,424 154,228 Note 24 7/24/2021 7/24/2022 8 265,000 44,322 220,678 Note 25 8/04/2021 8/4/2022 8 129,800 22,854 106,946 Note 26 8/11/2021 8/11/2022 8 151,500 25,881 125,619 Note 27 8/16/2021 8/16/2022 8 88,400 20,369 68,031 Note 28 8/20/2021 8/20/2022 8 151,500 29,317 122,183 Note 29 8/30/2021 8/30/2022 8 140,650 25,682 114,968 Note 30 9/02/2021 9/02/2022 8 216,385 43,972 172,413 Note 31 9/17/2021 9/17/2022 8 270,480 48,092 222,388 Note 32 9/30/2021 9/30/2022 8 270,480 49,425 221,055 Note 33 10/07/2021 10/7/2022 8 86,900 71,447 15,453 Note 34 10/26/2021 10/26/2022 8 270,480 53,852 216,628 Note 35 10/30/2021 10/30/2022 8 46,800 39,931 6,869 Note 36 11/03/2021 11/03/2022 8 270,480 38,400 232,080 Note 37 11/16/2021 11/16/2022 8 324,576 123,669 200,907 Note 38 11/30/2021 11/30/2022 8 270,480 79,078 191,402 Note 39 12/10/2021 12/10/2022 8 601,000 178,145 422,855 Note 40 12/15/2021 12/15/2022 8 270,480 87,489 182,991 Note 41 12/23/2021 12/23/2022 8 54,100 17,605 36,495 Total $ 5,322,743 $ 1,041,126 $ 4,281,617 * Notes 1, 2, 3, 4 and 5 in the amounts of $82,000, $208,000, $27,000, $62,000 and $202,400, respectively, were fully converted as of December 31, 2021. * On October 18, 2021, the maturity dates of each of Notes 6, 7, 8, 9, 10, 11, 12, 14, 16, and 17 were extended to April 18, 2022 and the lender waived all penalty interest for non-payment. *Note 23 in the amount of $ 180,400 32,544 Between April 1, 2021, and December 31, 2021, the Company issued to “accredited investors,” Convertible Promissory Notes aggregating a principal amount of $ 4,453,543 3,949,765 481,278 22,500 The outstanding principal amount of the Notes is convertible into the Company’s common stock at the lender’s option at $0.01 per share for the first six months of the term of the Notes. After the six-month anniversary, the conversion price is equal to 63% of the average of the three lowest trading prices of the Company’s common stock. Accounting Considerations The Company has accounted for the Notes as a financing transaction, wherein the net proceeds that were received were allocated to the financial instrument issued. Prior to making the accounting allocation, the Company evaluated the agreement under ASC 815 Derivatives and Hedging The net proceeds were allocated to the compound embedded derivative and original issue discount. The notes will be amortized up to its face value over the life of Notes based on an effective interest rate. Amortization expense and interest expense for the nine months ended December 31, 2021 is as follows: Schedule of amortization expense, interest expense and accrued interest on debt Note Interest Expense Accrued Interest Amortization of Debt Discount Unamortized Note 6 $ 2,078 $ 9,723 $ – $ – Note 7 7,785 22,675 – – Note 8 4,343 17,575 – – Note 9 4,044 20,400 – – Note 10 3,468 16,663 7,463 – Note 11 1,391 6,412 3,542 – Note 12 1,391 6,261 2,181 – Note 14 1,613 6,768 7,067 – Note 16 2,158 8,232 10,215 3,648 Note 17 1,210 4,445 7,130 2,595 Note 20 2,097 5,585 1,002 1,351 Note 21 2,097 5,015 1,516 2,578 Note 22 3,744 7,731 13,657 31,424 Note 24 5,344 9,119 16,648 44,322 Note 25 2,617 4,239 8,518 22,854 Note 26 3,055 4,715 9,691 25,881 Note 27 1,783 2,654 7,223 20,369 Note 28 3,055 4,416 10,758 29,317 Note 29 2,836 3,792 8,372 25,682 Note 30 4,363 5,691 14,079 43,972 Note 31 5,454 6,883 15,742 48,092 Note 32 5,454 5,454 14,380 49,425 Note 33 1,600 1,600 6,763 71,447 Note 34 4,328 4,328 9,409 53,852 Note 35 677 677 2,189 39,931 Note 36 3,695 3,695 6,999 38,400 Note 37 3,201 3,201 8,559 123,669 Note 38 1,838 1,838 5,924 79,078 Note 39 4,084 4,084 15,815 178,145 Note 40 949 949 6,386 87,489 Note 41 – – – 17,605 Total $ 91,752 $ 204,820 $ 221,228 $ 1,041,126 |
DERIVATIVE FINANCIAL INSTRUMENT
DERIVATIVE FINANCIAL INSTRUMENTS | 9 Months Ended |
Dec. 31, 2021 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
DERIVATIVE FINANCIAL INSTRUMENTS | NOTE 10 – DERIVATIVE FINANCIAL INSTRUMENTS The following tables summarize the components of the Company’s derivative liabilities and linked common shares as of December 31, 2021: Schedule of derivative liabilities December 31, 2021 The financings giving rise to derivative financial instruments Indexed Fair Compound embedded derivatives 1,372,797,202 (2,199,087 ) Total 1,372,797,202 (2,199,087 ) The following tables summarize the components of the Company’s derivative liabilities and linked common shares as of December 31, 2020: December 31, 2020 The financings giving rise to derivative financial instruments Indexed Fair Compound embedded derivatives 311,625,168 (739,574 ) Total 311,625,168 (739,574 ) The following table summarizes the effects on the Company’s gain (loss) associated with changes in the fair values of the derivative financial instruments by type of financing for the three months ended December 31, 2021, and 2020: The financings giving rise to derivative financial instruments and the income effects: December 31, 2021 December 31, 2020 Compound embedded derivatives $ (66,894 ) $ 194,410 Day one derivative loss (45,485 ) (125,408 ) Total (loss) $ (112,379 ) $ (69,002 ) The following table summarizes the effects on the Company’s gain (loss) associated with changes in the fair values of the derivative financial instruments by type of financing for the nine months ended December 31, 2021, and 2020: The financings giving rise to derivative financial instruments and the income effects: December 31, 2021 December 31, 2020 Compound embedded derivatives $ (421,836 ) $ (592,997 ) Day one derivative loss (45,485 ) (125,408 ) Total (loss) $ (467,321 ) $ (715,405 ) The Company’s Convertible Promissory Notes issued between October 4, 2019, and December 31, 2021, gave rise to derivative financial instruments. The notes embodied certain terms and conditions that were not clearly and closely related to the host debt agreement in terms of economic risks and characteristics. These terms and features consist of the embedded conversion option. Current accounting principles that are provided in ASC 815 - Derivatives and Hedging Significant inputs and results arising from the Monte Carlo Simulations process are as follows for the embedded derivatives that have been bifurcated from the Convertible Notes and classified in liabilities: Schedule of significant inputs December 31, 2021 Quoted market price on valuation date $ 0.0029 Contractual conversion rate $ 0.0001 0.01 Contractual term to maturity 0.005 Years – 1.0 Years Market volatility: Equivalent Volatility 90.12% - 170.73% Interest rate 8.00 The following table reflects the issuances of compound embedded derivatives and the changes in fair value inputs and assumptions related to the compound embedded derivatives during the period ended December 31, 2021, and March 31, 2021. Schedule of changes in fair value of derivatives December 31, March 31, 2021 2021 Beginning balance $ 1,137,623 $ 58,790 Issuances: Compound embedded derivatives 1,088,514 732,416 Conversions (287,897 ) (859,352 ) Derivative extinguished / debt repaid in cash (160,989 ) (126,892 ) (Gain) loss on changes in fair value inputs and assumptions reflected in income 421,836 1,332,661 Total $ 2,199,087 $ 1,137,623 |
EQUITY
EQUITY | 9 Months Ended |
Dec. 31, 2021 | |
Equity [Abstract] | |
EQUITY | NOTE 11 - EQUITY Preferred Stock There are 50,000,000 shares authorized as preferred stock, of which 40,000,000 are designated as Series B and 2,000,000 are designated as Series A. 8,000,000 shares have yet to be designated. All 2,000,000 shares of Series A preferred are issued and outstanding. Each share of Series A preferred is convertible into 240 shares of common stock. The Series A Preferred Stock votes with the Common Stock on all matters to be voted on by the common stock on an as-converted basis. On such matters, each holder of Series A Preferred Stock is entitled to 240 votes for each share of Series A Preferred Stock held by such shareholder. Common Stock Common Stock Issuances for the nine months ended December 31, 2020 On April 23, 2020, the Company issued 4,292,915 7,341 On May 8, 2020, the Company issued 12,000,000 30,000 12,000,000 48,281 18,281 On June 16, 2020, the Company issued 4,000,000 14,400 On July 10, 2020, the Company issued 4,000,000 14,000 On July 31, 2020, GS Capital converted $ 7,500 488 84,000 5,071,885 5,071,885 16,558 7,500 488 8,570 On August 10, 2020, the Company issued 4,000,000 34,800 On August 13, 2020, the Company sold 13,333,334 100,000 On August 19, 2020, the Company sold 13,333,334 100,000 On August 20, 2020, GS Capital converted $ 12,500 871 84,000 8,468,394 8,468,394 155,914 12,500 871 138,647 3,896 On September 1, 2020, the Company sold 13,333,334 100,000 On September 9, 2020, GS Capital converted $ 55,000 4,075 84,000 12,123,426 12,123,426 262,363 55,000 4,075 142,990 60,298 On September 14, 2020, the Company sold 22,000,000 165,000 On December 31, 2020, the Company issued 3,733,333 26,133 Common Stock Issuances for the nine months ended December 31, 2021 On April 1, 2021, the Company issued 50,000,000 200,000 On April 10, 2021, the Company issued 25,000,000 100,000 On April 14, 2021, the Company issued 13,750,000 55,000 On May 13, 2021, the Company issued 50,000,000 200,000 On May 21, 2021, the Company issued 1,500,000 6,450 On May 21, 2021, the Company issued 2,000,000 8,600 On May 21, 2021, the Company issued 2,000,000 8,600 On June 3, 2021, the Company issued 25,000,000 100,000 On June 16, 2021, the Company issued 31,250,000 125,000 On June 25, 2021, the Company issued 25,000,000 100,000 On July 13, 2021, the Company issued 25,000,000 100,000 On July 15, 2021, the Company issued 25,000,000 100,000 On July 21, 2021, the Company issued 25,000,000 100,000 On October 5, 2021, GS Capital converted $ 100,000 13,479 44,293,306 On October 8, 2021, the Company issued 10,000,000 On October 19, 2021, GS Capital converted $ 84,000 11,580 37,306,982 On October 26, 2021, the Company issued 17,000,000 On October 26, 2021, the Company sold 11,250,000 45,000 On December 6, 2021, the Company issued 72,000,000 On December 14, 2021, the Company issued 35,000,000 On December 22, 2021, the Company issued 2,900,000 On December 28, 2021, GS Capital converted $ 40,000 5,944 33,658,688 |
LEASES
LEASES | 9 Months Ended |
Dec. 31, 2021 | |
Leases | |
LEASES | NOTE 12 – LEASES Kokomo lease On October 1, 2020, the Company, under its subsidiary ONE More Gym LLC, entered into a facilities lease (“Kokomo Lease”) for 25,000 square feet in Kokomo, Indiana. The initial lease term is for five years, and the lease commencement date is October 1, 2020. The monthly lease payments are $7,292 in year 1, $7,656 in year 2, $8,039 in year 3, and $8,441 in years 4 and 5. Valparaiso Lease The Company leases 11,676 square feet of office space located at 1805 E. Lincolnway, Valparaiso, Indiana 46383. The Company assumed the lease (“Valparaiso Lease”) when it acquired CFit Indiana Inc. on October 6, 2020. The monthly 7,625 December 31, 2023 Merrill Lease In connection with the acquisition of CFit Indiana Inc. on October 6, 2020, the Company acquired a facilities lease for 15,000 square feet at 6055N. Broadway Ave., Merrillville, Indiana. The monthly 11,190 February 28, 2026 Tuscaloosa Lease In connection with the acquisition of Hillcrest Fitness LLC on December 1, 2020, the Company acquired a facilities lease at 6551 Highway 69 South, Tuscaloosa, AL 35405. The monthly 6,000 March 6, 2024 Birmingham Lease In connection with the acquisition of Club Fitness LLC on April 1, 2021, the Company acquired a facilities lease at 2520 Moody Parkway, Mood, AL 35004. The monthly 6,000 April 30, 2026 Valparaiso Additional Space Lease On August 30, 2021, the Company entered into a facilities lease (“Valparaiso Additional Space”) for 6,380 square feet in Valparaiso, Indiana. The initial lease term is for five years, and the lease commencement date is August 30, 2021. The monthly 4,250 On November 23, 2021 the Company terminated its lease for (‘Valparaiso Additional Space”). The results of this lease termination were to reduce the Operating Lease Right of Use Asset by $ 369,663 375,883 Tuscaloosa Additional Space Lease On November 1, 2021, the Company entered into a facilities lease (“Tuscaloosa Additional Space”) in Tuscaloosa, Alabama. The initial lease term is for five years, and the lease commencement date is December 1, 2021. The monthly 1,625 Operating lease right-of-use asset and liability are recognized at the present value of the future lease payments at the lease commencement date. The interest rate used to determine the present value is our incremental borrowing rate, estimated to be 10%, as the interest rate implicit in most of our leases is not readily determinable. Operating lease expense is recognized on a straight-line basis over the lease term. Since the common area maintenance expenses are expenses that do not depend on an index or rate, they are excluded from the measurement of the lease liability and recognized in other general and administrative expenses on the statements of operations. Right-of-use asset is summarized below: Summary of right-of-use asset December 31, 2021 Kokomo Valparaiso Lease Merrill Lease Tuscaloosa Lease Birmingham Lease Tuscaloosa Additional Lease Total Office lease $ 375,483 $ 374,360 $ 701,404 $ 222,087 $ 284,745 $ 77,119 $ 2,035,198 Less: accumulated amortization (77,434 ) (129,853 ) (94,697 ) (52,766 ) (30,289 ) (996 ) (386,035 ) Right-of-use asset, net $ 298,049 $ 244,507 $ 606,707 $ 169,321 $ 254,456 $ 76,123 $ 1,649,163 Operating lease liability is summarized below: Summary of operating lease liability December 31, 2021 Kokomo Valparaiso Lease Merrill Lease Tuscaloosa Lease Birmingham Lease Tuscaloosa Additional Lease Total Office lease $ 307,187 $ 244,508 $ 673,147 $ 169,321 $ 254,456 $ 76,123 $ 1,724,742 Less: current portion (66,008 ) (116,171 ) (123,746 ) (58,292 ) (49,377 ) (12,618 ) (426,212 ) Long term portion $ 241,179 $ 128,336 $ 549,402 $ 111,029 $ 205,079 $ 63,505 $ 1,298,530 Maturity of the lease liability is as follows: Schedule of maturity of the lease liability December 31, 2021 Kokomo Lease Valparaiso Lease Merrill Lease Tuscaloosa Lease Birmingham Lease Tuscaloosa Additional Lease Total Fiscal year ending March 31, 2022 $ 22,969 $ 33,569 $ 33,575 $ 18,000 $ 18,000 $ 4,875 $ 130,988 Fiscal year ending March 31, 2023 94,172 134,274 201,450 72,000 72,000 19,500 593,396 Fiscal year ending March 31, 2024 98,880 100,706 201,450 72,000 72,000 19,500 564,536 Fiscal year ending March 31, 2025 101,292 – 201,450 30,000 72,000 19,500 424,242 Fiscal year ending March 31, 2026 50,646 – 184,661 – 72,000 19,500 326,807 Fiscal year ending March 31, 2027 – – – – 6,000 13,000 19,000 Present value discount (60,772 ) (24,041 ) (149,439 ) (22,679 ) (57,544 ) (19,752 ) (334,227 ) Lease liability $ 307,187 $ 244,508 $ 673,147 $ 169,321 $ 254,456 $ 76,123 $ 1,724,742 |
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES | 9 Months Ended |
Dec. 31, 2021 | |
Commitments and Contingencies Disclosure [Abstract] | |
COMMITMENTS AND CONTINGENCIES | NOTE 13 – COMMITMENTS AND CONTINGENCIES During the normal course of business, the Company may be exposed to litigation. When the Company becomes aware of potential litigation, it evaluates the merits of the case in accordance with FASB ASC 450-20-50, Contingencies. The Company evaluates its exposure to the matter, possible legal or settlement strategies and the likelihood of an unfavorable outcome. If the Company determines that an unfavorable outcome is probable and can be reasonably estimated, it establishes the necessary accruals. As of December 31, 2021, the Company is not aware of any contingent liabilities that should be reflected in the consolidated financial statements. The Company entered into an employment agreement with its Executive Vice President as of November 24, 2017. Under the terms of the agreement, the Company will be liable for severance and other payments under certain conditions. The employment agreement is for a period of 36 months and renews for a successive two years unless written notice is provided by either party under the terms of the agreement. On November 29, 2020, with Greg P. Bell abstaining, the board of directors of the Company approved the Chairman of the Board and Chief Executive Officer & President Agreement dated effective November 23, 2020, with Mr. Bell, the Company’s Chairman of the Board, CEO, and President. The agreement supersedes the previous agreement of the same title dated effective November 24, 2017. The term of the agreement is until Mr. Bell is removed from his executive positions by 80% of the voting control of the Company unless Mr. Bell is legally incapacitated (until legal capacity is regained), as determined by a court of competent jurisdiction or upon Mr. Bell’s death. Mr. Bell can terminate the agreement upon three months’ prior written notice to the Company. Pursuant to the agreement, Mr. Bell is entitled to an annual salary of $ 120,000 40,000,000 Each of the acquisition agreements contain a Management Services Agreement (“MSA”) whereby the Company agrees to pay a management fee based on certain performance targets. The MSA agreements expire 10 years from the acquisition agreement dates. |
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS | 9 Months Ended |
Dec. 31, 2021 | |
Subsequent Events [Abstract] | |
SUBSEQUENT EVENTS | NOTE 14 - SUBSEQUENT EVENTS Convertible Promissory Note On January 4, 2022, the Company entered into an Agreement with GS Capital Partners pursuant to which the Company issued to GS Capital Partners a Promissory Note in the aggregate principal amount of $270,480. The Note has a maturity date of January 4, 2023, and the Company has agreed to pay interest on the unpaid principal balance of the note at the rate of (8%) per annum from the date on which the note is issued until the same becomes due and payable, whether at maturity or upon acceleration or by prepayment or otherwise. The Company shall have the right to prepay the note, provided it makes a payment to GS Capital as set forth in the note. On January 12, 2022, the Company entered into an Agreement with Mast Hill Fund, L.P. pursuant to which the Company issued to Mast Hill Fund, L.P. a Promissory Note in the aggregate principal amount of $300,000. The Note has a maturity date of January 12, 2023, and the Company has agreed to pay interest on the unpaid principal balance of the note at the rate of (8%) per annum from the date on which the note is issued until the same becomes due and payable, whether at maturity or upon acceleration or by prepayment or otherwise. The Company shall have the right to prepay the note, provided it makes a payment to Mast Hill Fund, L.P. as set forth in the note. On January 19, 2022, the Company entered into an Agreement with GS Capital Partners pursuant to which the Company issued to GS Capital Partners a Promissory Note in the aggregate principal amount of $270,480. The Note has a maturity date of January 19, 2023 On February 2, 2022, the Company entered into an Agreement with GS Capital Partners pursuant to which the Company issued to GS Capital Partners a Promissory Note in the aggregate principal amount of $270,480. The Note has a maturity date of February 2, 2023, and the Company has agreed to pay interest on the unpaid principal balance of the note at the rate of (8%) per annum from the date on which the note is issued until the same becomes due and payable, whether at maturity or upon acceleration or by prepayment or otherwise. The Company shall have the right to prepay the note, provided it makes a payment to GS Capital as set forth in the note. On February 3, 2022, the Company entered into an Agreement with Mast Hill Fund, L.P. pursuant to which the Company issued to Mast Hill Fund, L.P. a Promissory Note in the aggregate principal amount of $425,000. The Note has a maturity date of February 3, 2023, and the Company has agreed to pay interest on the unpaid principal balance of the note at the rate of (8%) per annum from the date on which the note is issued until the same becomes due and payable, whether at maturity or upon acceleration or by prepayment or otherwise. The Company shall have the right to prepay the note, provided it makes a payment to Mast Hill Fund, L.P. as set forth in the note. Common Stock On January 12, 2022, the Company canceled 10,000,000 shares of common stock pursuant to a stock repurchase agreement with Go Value Networks. On January 12, 2022, the Company issued 17,500,000 shares of common stock as commitment shares to Mast Hill pursuant to Convertible Note dated January 12, 2022. On February 2, 2022, GS Capital Partners converted $38,000 in principal and $5,947 in accrued interest into 27,717,906 shares of common stock at a conversion price of $0.0015855 per share, pursuant to Note 6 dated February 19, 2020. On January 20, 2022, the Company issued 12,000,000 shares of common stock as a stock award to a non-employee pursuant to a Board of Directors Consent dated January 12, 2022. This award was valued at $0.0028 per share. On February 1, 2022, the Company issued 20,000,000 shares of common stock as a stock award to non-employees pursuant to a Board of Directors Consent dated January 25, 2022. This award was valued at $0.0029 per share. On February 7, 2022, the Company issued 24,800,000 shares of common stock as commitment shares pursuant to Mast Hill pursuant to Convertible Note dated February 3, 2022 |
ACCOUNTING POLICIES (Policies)
ACCOUNTING POLICIES (Policies) | 9 Months Ended |
Dec. 31, 2021 | |
Accounting Policies [Abstract] | |
Basis of Accounting | Basis of Accounting The interim consolidated financial statements are condensed and should be read in conjunction with the Company’s latest annual financial statements; interim disclosures generally do not repeat those in the annual statements. The interim unaudited consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“GAAP”). In the opinion of management, the unaudited interim consolidated financial statements reflect all adjustments of a normal recurring nature that are necessary for a fair presentation of the results for the interim periods presented. Interim results are not necessarily indicative of results for a full year. |
Use of Estimates | Use of Estimates Management uses estimates and assumptions in preparing financial statements. Those estimates and assumptions affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities, and the reported revenues and expenses. The most significant assumptions and estimates relate to the valuation of derivative liabilities and the valuation of assets and liabilities acquired through business combinations. Actual results could differ from these estimates and assumptions. |
Cash and Cash Equivalents | Cash and Cash Equivalents The Company considers all highly liquid investments with a maturity of three months or less when purchased to be cash equivalents. The Company maintains deposits primarily in four financial institutions, which may at times exceed amounts covered by insurance provided by the U.S. Federal Deposit Insurance Corporation (“FDIC”). The Company has not experienced any losses related to amounts in excess of FDIC limits or $250,000. The Company did no |
Fair Value of Financial Instruments | Fair Value of Financial Instruments The Company’s financial instruments consist primarily of accounts payable and accrued liabilities. The carrying amounts of such financial instruments approximate their respective estimated fair value due to the short-term maturities and approximate market interest rates of these instruments. The three levels of valuation hierarchy are defined as follows: Level 1 Level 2 Level 3 The Company analyzes all financial instruments with features of both liabilities and equity under ASC 480, “Distinguishing Liabilities from Equity,” and ASC 815. |
Property and Equipment | Property and Equipment Property and equipment are carried at cost. Depreciation is provided on the straight-line method over the assets’ estimated service lives. Expenditures for maintenance and repairs are charged to expense in the period in which they are incurred, and betterments are capitalized. The cost of assets sold or abandoned and the related accumulated depreciation are eliminated from the accounts and any gains or losses are reflected in the accompanying consolidated statement of operations of the respective period. The estimated useful lives range from 3 to 7 years |
Other income | Other income During the nine months ended December 31, 2021, and December 31, 2020, the Company received $ 0 2,000 |
Revenue Recognition | Revenue Recognition Revenue is recognized when a customer obtains control of promised goods or services. In addition, the standard requires disclosure of the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers. The amount of revenue that is recorded reflects the consideration that the Company expects to receive in exchange for those goods. The Company applies the following five-step model in order to determine this amount: (i) identification of the promised goods in the contract; (ii) determination of whether the promised goods are performance obligations, including whether they are distinct in the context of the contract; (iii) measurement of the transaction price, including the constraint on variable consideration; (iv) allocation of the transaction price to the performance obligations; and (v) recognition of revenue when (or as) the Company satisfies each performance obligation. The Company only applies the five-step model to contracts when it is probable that the entity will collect the consideration it is entitled to in exchange for the goods or services it transfers to the customer. Once a contract is determined to be within the scope of Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 606 at contract inception, the Company reviews the contract to determine which performance obligations the Company must deliver and which of these performance obligations are distinct. The Company recognizes as revenues the amount of the transaction price that is allocated to the respective performance obligation when the performance obligation is satisfied or as it is satisfied. The majority of revenues are received from ticket and beverage sales before and during the live events. Sponsorship revenue is also recognized when the live event takes place. Any revenue received for events that have yet to take place are recorded in deferred revenue. |
Income Taxes | Income Taxes The Company follows Section 740-10-30 of the FASB ASC, which requires recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the consolidated financial statements or tax returns. Under this method, deferred tax assets and liabilities are based on the differences between the consolidated financial statement and tax bases of assets and liabilities using enacted tax rates in effect for the fiscal year in which the differences are expected to reverse. Deferred tax assets are reduced by a valuation allowance to the extent management concludes it is more likely than not that the assets will not be realized. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the fiscal years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in the consolidated Statements of Operations in the period that includes the enactment date. Through December 31, 2021, the Company has an expected loss. Due to uncertainty of realization for these losses, a full valuation allowance is recorded. Accordingly, no provision has been made for federal income taxes in the accompanying consolidated financial statements. |
Concentration of Credit Risk | Concentration of Credit Risk Financial instruments that potentially subject the Company to concentrations of credit risk are cash, accounts receivable and other receivables arising from its normal business activities. The Company places its cash in what it believes to be credit-worthy financial institutions. The Company controls credit risk related to accounts receivable through credit approvals, credit limits and monitoring procedures. The Company routinely assesses the financial strength of its customers and, based upon factors surrounding the credit risk, establishes an allowance, if required, for uncollectible accounts and, as a consequence, believes that its accounts receivable credit risk exposure beyond such allowance is limited. In addition, Receivables that are factored through the Company's Receivable finance facility are guaranteed by the finance company that further mitigates Credit Risk. |
Impairment of Long-Lived Assets | Impairment of Long-Lived Assets In accordance with ASC 360-10, the Company, on a regular basis, reviews the carrying amount of long-lived assets for the existence of facts or circumstances, both internally and externally, that suggest impairment. The Company determines if the carrying amount of a long-lived asset is impaired based on anticipated undiscounted cash flows, before interest, from the use of the asset. In the event of impairment, a loss is recognized based on the amount by which the carrying amount exceeds the fair value of the asset. Fair value is determined based on appraised value of the assets or the anticipated cash flows from the use of the asset, discounted at a rate commensurate with the risk involved. There were no impairment charges recorded during the nine months ended December 31, 2021, and 2020, respectively. |
Earnings Per Share (EPS) | Earnings Per Share (EPS) The Company utilize FASB ASC 260, Earnings per Share 1,372,797,202 The following table sets forth the computation of basic and diluted earnings per share for the nine months ended December 31, 2021, and 2020: Schedule of Earnings Per Share, Basic and Diluted December 31, 2021 December 31, 2020 Basic and diluted Net loss $ (6,311,640 ) $ (2,743,015 ) Net loss per share Basic $ (0.00 ) $ (0.00 ) Diluted $ (0.00 ) $ (0.00 ) Weighted average number of shares outstanding: Basic 1,341,287,504 619,783,280 |
Stock Based Compensation | Stock Based Compensation The Company records stock-based compensation in accordance with the provisions of FASB ASC Topic 718, Accounting for Stock Compensation Topic 718, the Company recognizes an expense for the fair value of its stock awards at the time of grant and the fair value of its outstanding stock options and stock awards, whether held by employees or others. As of December 31, 2021, there were no 99,000,000 On June 20, 2018, the FASB issued ASU 2018-07, Compensation—Stock Compensation (Topic 718) |
Recently Adopted Accounting Pronouncements | Recently Adopted Accounting Pronouncements In August 2020, the FASB issued ASU 2020-06, Debt-Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging – Contracts in Entity’s Own Equity (Subtopic 815-40) – Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity. The ASU simplifies accounting for convertible instruments by removing major separation models required under current GAAP. Consequently, more convertible debt instruments will be reported as a single liability instrument with no separate accounting for embedded conversion features. The ASU removes certain settlement conditions that are required for equity contracts to qualify for the derivative scope exception, which will permit more equity contracts to qualify for the exception. The ASU also simplifies the diluted net income per share calculation in certain areas. The new guidance is effective for fiscal years beginning after December 15, 2023, including interim periods within those fiscal years, and early adoption is permitted. The Company is currently evaluating the impact of the adoption of the standard on the consolidated financial statements. The Company has implemented all new accounting pronouncements that are in effect. These pronouncements did not have any material impact on the consolidated financial statements unless otherwise disclosed, and the Company does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its financial position or results of operations. |
ACCOUNTING POLICIES (Tables)
ACCOUNTING POLICIES (Tables) | 9 Months Ended |
Dec. 31, 2021 | |
Accounting Policies [Abstract] | |
Schedule of Earnings Per Share, Basic and Diluted | Schedule of Earnings Per Share, Basic and Diluted December 31, 2021 December 31, 2020 Basic and diluted Net loss $ (6,311,640 ) $ (2,743,015 ) Net loss per share Basic $ (0.00 ) $ (0.00 ) Diluted $ (0.00 ) $ (0.00 ) Weighted average number of shares outstanding: Basic 1,341,287,504 619,783,280 |
REVENUE (Tables)
REVENUE (Tables) | 9 Months Ended |
Dec. 31, 2021 | |
Revenue from Contract with Customer [Abstract] | |
Schedule of net sales by revenue type | Schedule of net sales by revenue type For the three months ended December 31, December 31, 2021 (Unaudited) 2020 (Unaudited) Live events $ 263,782 $ 82,524 Gym revenue 348,850 218,025 Total revenue $ 612,632 $ 300,549 For the nine months ended December 31, December 31, 2021 (Unaudited) 2020 (Unaudited) Live events $ 782,544 $ 112,901 Gym revenue 1,058,863 383,596 Total revenue $ 1,841,407 $ 496,497 |
PROPERTY AND EQUIPMENT (Tables)
PROPERTY AND EQUIPMENT (Tables) | 9 Months Ended |
Dec. 31, 2021 | |
Property, Plant and Equipment [Abstract] | |
Schedule of property and equipment | Schedule of property and equipment As of As of December 31, 2021 March 31, 2021 Gym equipment $ 533,253 $ 420,880 Cages 151,009 132,350 Event assets 116,088 92,117 Furniture and fixtures 16,765 16,766 Production truck gear 11,740 11,740 Production equipment 60,888 32,875 Venue lighting system 38,266 37,250 Leasehold improvements 215,643 43,712 Electronics hardware and software 164,921 124,624 Trucks trailers and vehicles 234,533 197,921 1,543,106 1,110,235 Less: accumulated depreciation (349,830 ) (165,236 ) $ 1,193,276 $ 944,999 |
INTANGIBLE ASSETS (Tables)
INTANGIBLE ASSETS (Tables) | 9 Months Ended |
Dec. 31, 2021 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Schedule of intangible assets | Schedule of intangible assets As of As of December 31, 2021 March 31, 2021 Licenses $ 142,248 $ 142,248 Software/website development 12,585 12,585 Customer relationships 216,343 170,031 371,176 324,864 Less: accumulated amortization (178,542 ) (99,974 ) $ 192,634 $ 224,890 |
Schedule of amortization expense | Schedule of amortization expense Fiscal year ended March 31, 2022 $ 26,189 Fiscal year ended March 31, 2023 97,842 Fiscal year ended March 31, 2024 61,532 Fiscal year ended March 31, 2025 7,071 Total $ 192,634 |
BUSINESS ACQUISITIONS (Tables)
BUSINESS ACQUISITIONS (Tables) | 9 Months Ended |
Dec. 31, 2021 | |
Business Acquisitions | |
Schedule of business combination purchase allocation | Schedule of business combination purchase allocation Consideration Cash $ 125,000 Fair values of identifiable net assets: Property & equipment: Gym equipment $ 76,689 Intangible assets: Customer relationships 46,311 Total fair value of identifiable net assets $ 125,000 |
NOTES PAYABLE (Tables)
NOTES PAYABLE (Tables) | 9 Months Ended |
Dec. 31, 2021 | |
Notes Payable | |
Schedule of notes payable | Schedule of notes payable As of As of December 31, March 31, 2021 2021 Notes payable - current maturity: Note Payable PPP SBA Loan $ – $ 15,600 SBA EIDL Loan 10,000 10,000 SBA Loan Payable B2Digital 97,200 97,200 GS Capital, LLC 153,000 – Notes payable – in default: Emry Capital $14,000, 4% loan with principal and interest due April, 2020 14,000 14,000 Notes payable – long term: WLES LP LLC $60,000, 5% loan due January 15, 2022 30,000 30,000 Brian Cox 401K – 12,882 SBA Loan (Hillcrest) 35,400 35,400 SBA Loan (One More Gym, LLC) 48,573 63,047 Total notes payable 388,173 278,129 Less: long-term (78,573 ) (105,929 ) Total $ 309,600 $ 172,200 |
CONVERTIBLE NOTE PAYABLE (Table
CONVERTIBLE NOTE PAYABLE (Tables) | 9 Months Ended |
Dec. 31, 2021 | |
Debt Disclosure [Abstract] | |
Schedule of Convertible Notes Payable | Schedule of convertible notes payable Note* Issuance Date Maturity Coupon Face Value Unamortized Discount Carrying Value Note 6 2/19/2020 4/18/2022 8 45,800 – 45,800 Note 7 3/10/2020 4/18/2022 8 85,800 – 85,800 Note 8 8/4/2020 4/18/2022 8 156,000 – 156,000 Note 9 10/2/2020 4/18/2022 8 205,000 – 205,000 Note 10 10/15/2020 4/18/2022 8 172,000 – 172,000 Note 11 11/2/2020 4/18/2022 8 69,000 – 69,000 Note 12 11/12/2020 4/18/2022 8 69,000 – 69,000 Note 14 12/10/2020 4/18/2022 8 80,000 – 80,000 Note 16 1/14/2021 4/18/2022 8 107,000 3,648 103,352 Note 17 1/27/2021 4/18/2022 8 60,000 2,595 57,405 Note 20 4/30/2021 4/30/2022 8 104,000 1,351 102,649 Note 21 5/25/2021 5/25/2022 8 104,000 2,578 101,422 Note 22 6/24/2021 6/24/2022 8 185,652 31,424 154,228 Note 24 7/24/2021 7/24/2022 8 265,000 44,322 220,678 Note 25 8/04/2021 8/4/2022 8 129,800 22,854 106,946 Note 26 8/11/2021 8/11/2022 8 151,500 25,881 125,619 Note 27 8/16/2021 8/16/2022 8 88,400 20,369 68,031 Note 28 8/20/2021 8/20/2022 8 151,500 29,317 122,183 Note 29 8/30/2021 8/30/2022 8 140,650 25,682 114,968 Note 30 9/02/2021 9/02/2022 8 216,385 43,972 172,413 Note 31 9/17/2021 9/17/2022 8 270,480 48,092 222,388 Note 32 9/30/2021 9/30/2022 8 270,480 49,425 221,055 Note 33 10/07/2021 10/7/2022 8 86,900 71,447 15,453 Note 34 10/26/2021 10/26/2022 8 270,480 53,852 216,628 Note 35 10/30/2021 10/30/2022 8 46,800 39,931 6,869 Note 36 11/03/2021 11/03/2022 8 270,480 38,400 232,080 Note 37 11/16/2021 11/16/2022 8 324,576 123,669 200,907 Note 38 11/30/2021 11/30/2022 8 270,480 79,078 191,402 Note 39 12/10/2021 12/10/2022 8 601,000 178,145 422,855 Note 40 12/15/2021 12/15/2022 8 270,480 87,489 182,991 Note 41 12/23/2021 12/23/2022 8 54,100 17,605 36,495 Total $ 5,322,743 $ 1,041,126 $ 4,281,617 |
Schedule of amortization expense, interest expense and accrued interest on debt | Schedule of amortization expense, interest expense and accrued interest on debt Note Interest Expense Accrued Interest Amortization of Debt Discount Unamortized Note 6 $ 2,078 $ 9,723 $ – $ – Note 7 7,785 22,675 – – Note 8 4,343 17,575 – – Note 9 4,044 20,400 – – Note 10 3,468 16,663 7,463 – Note 11 1,391 6,412 3,542 – Note 12 1,391 6,261 2,181 – Note 14 1,613 6,768 7,067 – Note 16 2,158 8,232 10,215 3,648 Note 17 1,210 4,445 7,130 2,595 Note 20 2,097 5,585 1,002 1,351 Note 21 2,097 5,015 1,516 2,578 Note 22 3,744 7,731 13,657 31,424 Note 24 5,344 9,119 16,648 44,322 Note 25 2,617 4,239 8,518 22,854 Note 26 3,055 4,715 9,691 25,881 Note 27 1,783 2,654 7,223 20,369 Note 28 3,055 4,416 10,758 29,317 Note 29 2,836 3,792 8,372 25,682 Note 30 4,363 5,691 14,079 43,972 Note 31 5,454 6,883 15,742 48,092 Note 32 5,454 5,454 14,380 49,425 Note 33 1,600 1,600 6,763 71,447 Note 34 4,328 4,328 9,409 53,852 Note 35 677 677 2,189 39,931 Note 36 3,695 3,695 6,999 38,400 Note 37 3,201 3,201 8,559 123,669 Note 38 1,838 1,838 5,924 79,078 Note 39 4,084 4,084 15,815 178,145 Note 40 949 949 6,386 87,489 Note 41 – – – 17,605 Total $ 91,752 $ 204,820 $ 221,228 $ 1,041,126 |
DERIVATIVE FINANCIAL INSTRUME_2
DERIVATIVE FINANCIAL INSTRUMENTS (Tables) | 9 Months Ended |
Dec. 31, 2021 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Schedule of derivative liabilities | Schedule of derivative liabilities December 31, 2021 The financings giving rise to derivative financial instruments Indexed Fair Compound embedded derivatives 1,372,797,202 (2,199,087 ) Total 1,372,797,202 (2,199,087 ) The following tables summarize the components of the Company’s derivative liabilities and linked common shares as of December 31, 2020: December 31, 2020 The financings giving rise to derivative financial instruments Indexed Fair Compound embedded derivatives 311,625,168 (739,574 ) Total 311,625,168 (739,574 ) The following table summarizes the effects on the Company’s gain (loss) associated with changes in the fair values of the derivative financial instruments by type of financing for the three months ended December 31, 2021, and 2020: The financings giving rise to derivative financial instruments and the income effects: December 31, 2021 December 31, 2020 Compound embedded derivatives $ (66,894 ) $ 194,410 Day one derivative loss (45,485 ) (125,408 ) Total (loss) $ (112,379 ) $ (69,002 ) The following table summarizes the effects on the Company’s gain (loss) associated with changes in the fair values of the derivative financial instruments by type of financing for the nine months ended December 31, 2021, and 2020: The financings giving rise to derivative financial instruments and the income effects: December 31, 2021 December 31, 2020 Compound embedded derivatives $ (421,836 ) $ (592,997 ) Day one derivative loss (45,485 ) (125,408 ) Total (loss) $ (467,321 ) $ (715,405 ) |
Schedule of significant inputs | Schedule of significant inputs December 31, 2021 Quoted market price on valuation date $ 0.0029 Contractual conversion rate $ 0.0001 0.01 Contractual term to maturity 0.005 Years – 1.0 Years Market volatility: Equivalent Volatility 90.12% - 170.73% Interest rate 8.00 |
Schedule of changes in fair value of derivatives | Schedule of changes in fair value of derivatives December 31, March 31, 2021 2021 Beginning balance $ 1,137,623 $ 58,790 Issuances: Compound embedded derivatives 1,088,514 732,416 Conversions (287,897 ) (859,352 ) Derivative extinguished / debt repaid in cash (160,989 ) (126,892 ) (Gain) loss on changes in fair value inputs and assumptions reflected in income 421,836 1,332,661 Total $ 2,199,087 $ 1,137,623 |
LEASES (Tables)
LEASES (Tables) | 9 Months Ended |
Dec. 31, 2021 | |
Leases | |
Summary of right-of-use asset | Summary of right-of-use asset December 31, 2021 Kokomo Valparaiso Lease Merrill Lease Tuscaloosa Lease Birmingham Lease Tuscaloosa Additional Lease Total Office lease $ 375,483 $ 374,360 $ 701,404 $ 222,087 $ 284,745 $ 77,119 $ 2,035,198 Less: accumulated amortization (77,434 ) (129,853 ) (94,697 ) (52,766 ) (30,289 ) (996 ) (386,035 ) Right-of-use asset, net $ 298,049 $ 244,507 $ 606,707 $ 169,321 $ 254,456 $ 76,123 $ 1,649,163 |
Summary of operating lease liability | Summary of operating lease liability December 31, 2021 Kokomo Valparaiso Lease Merrill Lease Tuscaloosa Lease Birmingham Lease Tuscaloosa Additional Lease Total Office lease $ 307,187 $ 244,508 $ 673,147 $ 169,321 $ 254,456 $ 76,123 $ 1,724,742 Less: current portion (66,008 ) (116,171 ) (123,746 ) (58,292 ) (49,377 ) (12,618 ) (426,212 ) Long term portion $ 241,179 $ 128,336 $ 549,402 $ 111,029 $ 205,079 $ 63,505 $ 1,298,530 |
Schedule of maturity of the lease liability | Schedule of maturity of the lease liability December 31, 2021 Kokomo Lease Valparaiso Lease Merrill Lease Tuscaloosa Lease Birmingham Lease Tuscaloosa Additional Lease Total Fiscal year ending March 31, 2022 $ 22,969 $ 33,569 $ 33,575 $ 18,000 $ 18,000 $ 4,875 $ 130,988 Fiscal year ending March 31, 2023 94,172 134,274 201,450 72,000 72,000 19,500 593,396 Fiscal year ending March 31, 2024 98,880 100,706 201,450 72,000 72,000 19,500 564,536 Fiscal year ending March 31, 2025 101,292 – 201,450 30,000 72,000 19,500 424,242 Fiscal year ending March 31, 2026 50,646 – 184,661 – 72,000 19,500 326,807 Fiscal year ending March 31, 2027 – – – – 6,000 13,000 19,000 Present value discount (60,772 ) (24,041 ) (149,439 ) (22,679 ) (57,544 ) (19,752 ) (334,227 ) Lease liability $ 307,187 $ 244,508 $ 673,147 $ 169,321 $ 254,456 $ 76,123 $ 1,724,742 |
ACCOUNTING POLICIES (Details)
ACCOUNTING POLICIES (Details) - USD ($) | 3 Months Ended | 9 Months Ended | ||||||
Dec. 31, 2021 | Sep. 30, 2021 | Jun. 30, 2021 | Dec. 31, 2020 | Sep. 30, 2020 | Jun. 30, 2020 | Dec. 31, 2021 | Dec. 31, 2020 | |
Accounting Policies [Abstract] | ||||||||
Net loss | $ (2,693,117) | $ (2,557,176) | $ (1,061,347) | $ (978,156) | $ (1,269,353) | $ (495,506) | $ (6,311,640) | $ (2,743,015) |
Net loss per share | ||||||||
Basic | $ 0 | $ 0 | ||||||
Diluted | $ 0 | $ 0 | ||||||
Weighted average number of shares outstanding: | ||||||||
Basic | 1,452,481,989 | 710,522,374 | 1,341,287,504 | 619,783,280 |
ACCOUNTING POLICIES (Details Na
ACCOUNTING POLICIES (Details Narrative) - USD ($) | 9 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Mar. 31, 2021 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Cash in excess of FDIC limit | $ 0 | $ 0 | |
Property useful life | 3 to 7 years | ||
Grant income | $ 0 | $ 2,000 | |
Anti-dilutive securities | 1,372,797,202 | ||
Equity Option [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Options outstanding | 0 | ||
Common Stock Awards [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Stock awards outstanding | 99,000,000 |
GOING CONCERN (Details Narrativ
GOING CONCERN (Details Narrative) - USD ($) | 3 Months Ended | 9 Months Ended | ||||||||
Dec. 31, 2021 | Sep. 30, 2021 | Jun. 30, 2021 | Dec. 31, 2020 | Sep. 30, 2020 | Jun. 30, 2020 | Dec. 31, 2021 | Dec. 31, 2020 | Mar. 31, 2021 | Mar. 31, 2020 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ||||||||||
Net Income (Loss) Attributable to Parent | $ (2,693,117) | $ (2,557,176) | $ (1,061,347) | $ (978,156) | $ (1,269,353) | $ (495,506) | $ (6,311,640) | $ (2,743,015) | ||
Net Cash Provided by (Used in) Operating Activities | 4,561,880 | 1,105,767 | ||||||||
Working Capital | 7,608,136 | 7,608,136 | ||||||||
Accumulated Deficit | 15,508,888 | 15,508,888 | $ 9,197,248 | |||||||
Stockholders equity | $ 5,914,766 | $ 3,946,129 | $ 1,688,953 | $ 1,175,403 | $ 931,436 | $ 636,851 | $ 5,914,766 | $ 1,175,403 | $ 1,533,336 | $ 211,367 |
REVENUE (Details - Net sales by
REVENUE (Details - Net sales by revenue type) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2021 | Dec. 31, 2020 | |
Disaggregation of Revenue [Line Items] | ||||
Net sales | $ 612,632 | $ 300,549 | $ 1,841,407 | $ 496,497 |
Live Events [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 263,782 | 82,524 | 782,544 | 112,901 |
Gym [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | $ 348,850 | $ 218,025 | $ 1,058,863 | $ 383,596 |
PROPERTY AND EQUIPMENT (Details
PROPERTY AND EQUIPMENT (Details) - USD ($) | Dec. 31, 2021 | Mar. 31, 2021 |
Property, Plant and Equipment [Line Items] | ||
Property and equipment | $ 1,543,106 | $ 1,110,235 |
Less: accumulated depreciation | (349,830) | (165,236) |
Total fixed assets | 1,193,276 | 944,999 |
Gym Equipment [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property and equipment | 533,253 | 420,880 |
Cages [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property and equipment | 151,009 | 132,350 |
Event Assets [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property and equipment | 116,088 | 92,117 |
Furniture and Fixtures [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property and equipment | 16,765 | 16,766 |
Production Truck Gear [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property and equipment | 11,740 | 11,740 |
Production Equipment [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property and equipment | 60,888 | 32,875 |
Venue Lighting System [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property and equipment | 38,266 | 37,250 |
Leasehold Improvements [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property and equipment | 215,643 | 43,712 |
Electronics [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property and equipment | 164,921 | 124,624 |
Vehicles [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property and equipment | $ 234,533 | $ 197,921 |
PROPERTY AND EQUIPMENT (Detai_2
PROPERTY AND EQUIPMENT (Details Narrative) - USD ($) | 9 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Property, Plant and Equipment [Abstract] | ||
Depreciation expense | $ 210,663 | $ 70,025 |
INTANGIBLE ASSETS (Details - In
INTANGIBLE ASSETS (Details - Intangible assets, net) - USD ($) | Dec. 31, 2021 | Mar. 31, 2021 |
Finite-Lived Intangible Assets [Line Items] | ||
Intangible assets gross | $ 371,176 | $ 324,864 |
Less: accumulated amortization | (178,542) | (99,974) |
Intangible assets net | 192,634 | 224,890 |
License [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Intangible assets gross | 142,248 | 142,248 |
Software Development [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Intangible assets gross | 12,585 | 12,585 |
Customer Relationships [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Intangible assets gross | $ 216,343 | $ 170,031 |
INTANGIBLE ASSETS (Details - Es
INTANGIBLE ASSETS (Details - Estimated amortization expense) - USD ($) | Dec. 31, 2021 | Mar. 31, 2021 |
Goodwill and Intangible Assets Disclosure [Abstract] | ||
Fiscal year ended March 31, 2022 | $ 26,189 | |
Fiscal year ended March 31, 2023 | 97,842 | |
Fiscal year ended March 31, 2024 | 61,532 | |
Fiscal year ended March 31, 2025 | 7,071 | |
Total | $ 192,634 | $ 224,890 |
INTANGIBLE ASSETS (Details Narr
INTANGIBLE ASSETS (Details Narrative) - USD ($) | 9 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Goodwill and Intangible Assets Disclosure [Abstract] | ||
Intangible assets net | $ 78,569 | $ 49,346 |
BUSINESS ACQUISITIONS (Details
BUSINESS ACQUISITIONS (Details - allocation of purchase) - Club Fitness [Member] | Apr. 02, 2021USD ($) |
Business Acquisition [Line Items] | |
Cash | $ 125,000 |
Total fair value of identifiable net assets | 125,000 |
Customer Relationships [Member] | |
Business Acquisition [Line Items] | |
Intangible assets | 46,311 |
Gym Equipment [Member] | |
Business Acquisition [Line Items] | |
Property & equipment | $ 76,689 |
BUSINESS ACQUISITIONS (Detail_2
BUSINESS ACQUISITIONS (Details Narrative) - Club Fitness [Member] | Apr. 02, 2021USD ($) |
Business Acquisition [Line Items] | |
Payments to Acquire Businesses, Gross | $ 125,000 |
Customer Relationships [Member] | |
Business Acquisition [Line Items] | |
Intangible assets | 46,311 |
Gym Equipment [Member] | |
Business Acquisition [Line Items] | |
Property & equipment | $ 76,689 |
NOTES PAYABLE (Details)
NOTES PAYABLE (Details) - USD ($) | Dec. 31, 2021 | Mar. 31, 2021 |
Short-term Debt [Line Items] | ||
Total notes payable | $ 388,173 | $ 278,129 |
Less: long-term | (78,573) | (105,929) |
Short-term | 309,600 | 172,200 |
GS Capital [Member] | ||
Short-term Debt [Line Items] | ||
Total notes payable | 0 | |
Wles Lp [Member] | ||
Short-term Debt [Line Items] | ||
Total notes payable | 30,000 | 30,000 |
Brian Cox [Member] | ||
Short-term Debt [Line Items] | ||
Total notes payable | 0 | 12,882 |
S B A Loan Hillcrest [Member] | ||
Short-term Debt [Line Items] | ||
Total notes payable | 35,400 | 35,400 |
Small Business Loan [Member] | ||
Short-term Debt [Line Items] | ||
Total notes payable | 48,573 | 63,047 |
P P P Loan [Member] | ||
Short-term Debt [Line Items] | ||
Total notes payable | 15,600 | |
EIDL Loan [Member] | ||
Short-term Debt [Line Items] | ||
Total notes payable | 10,000 | 10,000 |
B 2 Digital [Member] | ||
Short-term Debt [Line Items] | ||
Total notes payable | 97,200 | 97,200 |
GS Capital [Member] | ||
Short-term Debt [Line Items] | ||
Total notes payable | 153,000 | |
Emry Capital [Member] | ||
Short-term Debt [Line Items] | ||
Total notes payable | $ 14,000 | $ 14,000 |
NOTES PAYABLE (Details Narrativ
NOTES PAYABLE (Details Narrative) - USD ($) | 3 Months Ended | 9 Months Ended | |||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2021 | Dec. 31, 2020 | Mar. 31, 2021 | |
Debt Instrument [Line Items] | |||||
Interest Expense, Debt | $ 91,752 | ||||
Principal amount | $ 5,322,743 | 5,322,743 | |||
Accrued interest | 204,820 | 204,820 | |||
Gain on forgiveness of loan | 0 | $ 0 | 23,303 | $ 10,080 | |
Total notes payable | 388,173 | 388,173 | $ 278,129 | ||
Notes Payable [Member] | |||||
Debt Instrument [Line Items] | |||||
Interest Expense, Debt | 15,018 | ||||
Brian Cox [Member] | |||||
Debt Instrument [Line Items] | |||||
Repayment of Loan payable | 12,881 | ||||
Total notes payable | 0 | 0 | 12,882 | ||
Small Business Loan [Member] | |||||
Debt Instrument [Line Items] | |||||
Principal amount | 6,634 | 6,634 | |||
Accrued interest | 1,069 | 1,069 | |||
Gain on forgiveness of loan | 7,703 | ||||
Total notes payable | 48,573 | 48,573 | $ 63,047 | ||
P P P Loan [Member] | |||||
Debt Instrument [Line Items] | |||||
Gain on forgiveness of loan | 15,600 | ||||
Total notes payable | $ 15,600 | $ 15,600 |
Schedule of Convertible Notes P
Schedule of Convertible Notes Payable (Details) - USD ($) | 9 Months Ended | |
Dec. 31, 2021 | Nov. 23, 2021 | |
Debt Instrument [Line Items] | ||
Face Value | $ 5,322,743 | |
Unamortized Discount | 1,041,126 | |
Carrying Value | $ 4,281,617 | $ 180,400 |
Convertible Note 6 [Member] | ||
Debt Instrument [Line Items] | ||
Inception Date | Feb. 19, 2020 | |
Maturity | Apr. 18, 2022 | |
Coupon | 8.00% | |
Face Value | $ 45,800 | |
Unamortized Discount | ||
Carrying Value | $ 45,800 | |
Convertible Note 7 [Member] | ||
Debt Instrument [Line Items] | ||
Inception Date | Mar. 10, 2020 | |
Maturity | Apr. 18, 2022 | |
Coupon | 8.00% | |
Face Value | $ 85,800 | |
Unamortized Discount | ||
Carrying Value | $ 85,800 | |
Convertible Note 8 [Member] | ||
Debt Instrument [Line Items] | ||
Inception Date | Aug. 4, 2020 | |
Maturity | Apr. 18, 2022 | |
Coupon | 8.00% | |
Face Value | $ 156,000 | |
Unamortized Discount | ||
Carrying Value | $ 156,000 | |
Convertible Note 9 [Member] | ||
Debt Instrument [Line Items] | ||
Inception Date | Oct. 2, 2020 | |
Maturity | Apr. 18, 2022 | |
Coupon | 8.00% | |
Face Value | $ 205,000 | |
Unamortized Discount | ||
Carrying Value | $ 205,000 | |
Convertible Note 10 [Member] | ||
Debt Instrument [Line Items] | ||
Inception Date | Oct. 15, 2020 | |
Maturity | Apr. 18, 2022 | |
Coupon | 8.00% | |
Face Value | $ 172,000 | |
Unamortized Discount | ||
Carrying Value | $ 172,000 | |
Convertible Note 11 [Member] | ||
Debt Instrument [Line Items] | ||
Inception Date | Nov. 2, 2020 | |
Maturity | Apr. 18, 2022 | |
Coupon | 8.00% | |
Face Value | $ 69,000 | |
Unamortized Discount | ||
Carrying Value | $ 69,000 | |
Convertible Note 12 [Member] | ||
Debt Instrument [Line Items] | ||
Inception Date | Nov. 12, 2020 | |
Maturity | Apr. 18, 2022 | |
Coupon | 8.00% | |
Face Value | $ 69,000 | |
Unamortized Discount | ||
Carrying Value | $ 69,000 | |
Convertible Note 14 [Member] | ||
Debt Instrument [Line Items] | ||
Inception Date | Dec. 10, 2020 | |
Maturity | Apr. 18, 2022 | |
Coupon | 8.00% | |
Face Value | $ 80,000 | |
Unamortized Discount | ||
Carrying Value | $ 80,000 | |
Convertible Note 16 [Member] | ||
Debt Instrument [Line Items] | ||
Inception Date | Jan. 14, 2021 | |
Maturity | Apr. 18, 2022 | |
Coupon | 8.00% | |
Face Value | $ 107,000 | |
Unamortized Discount | 3,648 | |
Carrying Value | $ 103,352 | |
Convertible Note 17 [Member] | ||
Debt Instrument [Line Items] | ||
Inception Date | Jan. 27, 2021 | |
Maturity | Apr. 18, 2022 | |
Coupon | 8.00% | |
Face Value | $ 60,000 | |
Unamortized Discount | 2,595 | |
Carrying Value | $ 57,405 | |
Convertible Note 20 [Member] | ||
Debt Instrument [Line Items] | ||
Inception Date | Apr. 30, 2021 | |
Maturity | Apr. 30, 2022 | |
Coupon | 8.00% | |
Face Value | $ 104,000 | |
Unamortized Discount | 1,351 | |
Carrying Value | $ 102,649 | |
Convertible Note 21 [Member] | ||
Debt Instrument [Line Items] | ||
Inception Date | May 25, 2021 | |
Maturity | May 25, 2022 | |
Coupon | 8.00% | |
Face Value | $ 104,000 | |
Unamortized Discount | 2,578 | |
Carrying Value | $ 101,422 | |
Convertible Note 22 [Member] | ||
Debt Instrument [Line Items] | ||
Inception Date | Jun. 24, 2021 | |
Maturity | Jun. 24, 2022 | |
Coupon | 8.00% | |
Face Value | $ 185,652 | |
Unamortized Discount | 31,424 | |
Carrying Value | $ 154,228 | |
Convertible Note 24 [Member] | ||
Debt Instrument [Line Items] | ||
Inception Date | Jul. 24, 2021 | |
Maturity | Jul. 24, 2022 | |
Coupon | 8.00% | |
Face Value | $ 265,000 | |
Unamortized Discount | 44,322 | |
Carrying Value | $ 220,678 | |
Convertible Note 25 [Member] | ||
Debt Instrument [Line Items] | ||
Inception Date | Aug. 4, 2021 | |
Maturity | Aug. 4, 2022 | |
Coupon | 8.00% | |
Face Value | $ 129,800 | |
Unamortized Discount | 22,854 | |
Carrying Value | $ 106,946 | |
Convertible Note 26 [Member] | ||
Debt Instrument [Line Items] | ||
Inception Date | Aug. 11, 2021 | |
Maturity | Aug. 11, 2022 | |
Coupon | 8.00% | |
Face Value | $ 151,500 | |
Unamortized Discount | 25,881 | |
Carrying Value | $ 125,619 | |
Convertible Note 27 [Member] | ||
Debt Instrument [Line Items] | ||
Inception Date | Aug. 16, 2021 | |
Maturity | Aug. 16, 2022 | |
Coupon | 8.00% | |
Face Value | $ 88,400 | |
Unamortized Discount | 20,369 | |
Carrying Value | $ 68,031 | |
Convertible Note 28 [Member] | ||
Debt Instrument [Line Items] | ||
Inception Date | Aug. 20, 2021 | |
Maturity | Aug. 20, 2022 | |
Coupon | 8.00% | |
Face Value | $ 151,500 | |
Unamortized Discount | 29,317 | |
Carrying Value | $ 122,183 | |
Convertible Note 29 [Member] | ||
Debt Instrument [Line Items] | ||
Inception Date | Aug. 30, 2021 | |
Maturity | Aug. 30, 2022 | |
Coupon | 8.00% | |
Face Value | $ 140,650 | |
Unamortized Discount | 25,682 | |
Carrying Value | $ 114,968 | |
Convertible Note 30 [Member] | ||
Debt Instrument [Line Items] | ||
Inception Date | Sep. 2, 2021 | |
Maturity | Sep. 2, 2022 | |
Coupon | 8.00% | |
Face Value | $ 216,385 | |
Unamortized Discount | 43,972 | |
Carrying Value | $ 172,413 | |
Convertible Note 31 [Member] | ||
Debt Instrument [Line Items] | ||
Inception Date | Sep. 17, 2021 | |
Maturity | Sep. 17, 2022 | |
Coupon | 8.00% | |
Face Value | $ 270,480 | |
Unamortized Discount | 48,092 | |
Carrying Value | $ 222,388 | |
Convertible Note 32 [Member] | ||
Debt Instrument [Line Items] | ||
Inception Date | Sep. 30, 2021 | |
Maturity | Sep. 30, 2022 | |
Coupon | 8.00% | |
Face Value | $ 270,480 | |
Unamortized Discount | 49,425 | |
Carrying Value | $ 221,055 | |
Convertible Note 33 [Member] | ||
Debt Instrument [Line Items] | ||
Inception Date | Oct. 7, 2021 | |
Maturity | Oct. 7, 2022 | |
Coupon | 8.00% | |
Face Value | $ 86,900 | |
Unamortized Discount | 71,447 | |
Carrying Value | $ 15,453 | |
Convertible Note 34 [Member] | ||
Debt Instrument [Line Items] | ||
Inception Date | Oct. 26, 2021 | |
Maturity | Oct. 26, 2022 | |
Coupon | 8.00% | |
Face Value | $ 270,480 | |
Unamortized Discount | 53,852 | |
Carrying Value | $ 216,628 | |
Convertible Note 35 [Member] | ||
Debt Instrument [Line Items] | ||
Inception Date | Oct. 30, 2021 | |
Maturity | Oct. 30, 2022 | |
Coupon | 8.00% | |
Face Value | $ 46,800 | |
Unamortized Discount | 39,931 | |
Carrying Value | $ 6,869 | |
Convertible Note 36 [Member] | ||
Debt Instrument [Line Items] | ||
Inception Date | Nov. 3, 2021 | |
Maturity | Nov. 3, 2022 | |
Coupon | 8.00% | |
Face Value | $ 270,480 | |
Unamortized Discount | 38,400 | |
Carrying Value | $ 232,080 | |
Convertible Note 37 [Member] | ||
Debt Instrument [Line Items] | ||
Inception Date | Nov. 16, 2021 | |
Maturity | Nov. 16, 2022 | |
Coupon | 8.00% | |
Face Value | $ 324,576 | |
Unamortized Discount | 123,669 | |
Carrying Value | $ 200,907 | |
Convertible Note 38 [Member] | ||
Debt Instrument [Line Items] | ||
Inception Date | Nov. 30, 2021 | |
Maturity | Nov. 30, 2022 | |
Coupon | 8.00% | |
Face Value | $ 270,480 | |
Unamortized Discount | 79,078 | |
Carrying Value | $ 191,402 | |
Convertible Note 39 [Member] | ||
Debt Instrument [Line Items] | ||
Inception Date | Dec. 10, 2021 | |
Maturity | Dec. 10, 2022 | |
Coupon | 8.00% | |
Face Value | $ 601,000 | |
Unamortized Discount | 178,145 | |
Carrying Value | $ 422,855 | |
Convertible Note 40 [Member] | ||
Debt Instrument [Line Items] | ||
Inception Date | Dec. 15, 2021 | |
Maturity | Dec. 15, 2022 | |
Coupon | 8.00% | |
Face Value | $ 270,480 | |
Unamortized Discount | 87,489 | |
Carrying Value | $ 182,991 | |
Convertible Note 41 [Member] | ||
Debt Instrument [Line Items] | ||
Inception Date | Dec. 23, 2021 | |
Maturity | Dec. 23, 2022 | |
Coupon | 8.00% | |
Face Value | $ 54,100 | |
Unamortized Discount | 17,605 | |
Carrying Value | $ 36,495 |
CONVERTIBLE NOTES PAYABLE (Deta
CONVERTIBLE NOTES PAYABLE (Details - Amortization expense, interest expense and accrued interest) | 9 Months Ended |
Dec. 31, 2021USD ($) | |
Debt Instrument [Line Items] | |
Interest Expense | $ 91,752 |
Accrued Interest Balance | 204,820 |
Amortization of Debt Discount | 221,228 |
Unamortized Discount | 1,041,126 |
Convertible Note 6 [Member] | |
Debt Instrument [Line Items] | |
Interest Expense | 2,078 |
Accrued Interest Balance | 9,723 |
Amortization of Debt Discount | |
Unamortized Discount | |
Convertible Note 7 [Member] | |
Debt Instrument [Line Items] | |
Interest Expense | 7,785 |
Accrued Interest Balance | 22,675 |
Amortization of Debt Discount | |
Unamortized Discount | |
Convertible Note 8 [Member] | |
Debt Instrument [Line Items] | |
Interest Expense | 4,343 |
Accrued Interest Balance | 17,575 |
Amortization of Debt Discount | |
Unamortized Discount | |
Convertible Note 9 [Member] | |
Debt Instrument [Line Items] | |
Interest Expense | 4,044 |
Accrued Interest Balance | 20,400 |
Amortization of Debt Discount | |
Unamortized Discount | |
Convertible Note 10 [Member] | |
Debt Instrument [Line Items] | |
Interest Expense | 3,468 |
Accrued Interest Balance | 16,663 |
Amortization of Debt Discount | 7,463 |
Unamortized Discount | |
Convertible Note 11 [Member] | |
Debt Instrument [Line Items] | |
Interest Expense | 1,391 |
Accrued Interest Balance | 6,412 |
Amortization of Debt Discount | 3,542 |
Unamortized Discount | |
Convertible Note 12 [Member] | |
Debt Instrument [Line Items] | |
Interest Expense | 1,391 |
Accrued Interest Balance | 6,261 |
Amortization of Debt Discount | 2,181 |
Unamortized Discount | |
Convertible Note 14 [Member] | |
Debt Instrument [Line Items] | |
Interest Expense | 1,613 |
Accrued Interest Balance | 6,768 |
Amortization of Debt Discount | 7,067 |
Unamortized Discount | |
Convertible Note 16 [Member] | |
Debt Instrument [Line Items] | |
Interest Expense | 2,158 |
Accrued Interest Balance | 8,232 |
Amortization of Debt Discount | 10,215 |
Unamortized Discount | 3,648 |
Convertible Note 17 [Member] | |
Debt Instrument [Line Items] | |
Interest Expense | 1,210 |
Accrued Interest Balance | 4,445 |
Amortization of Debt Discount | 7,130 |
Unamortized Discount | 2,595 |
Convertible Note 20 [Member] | |
Debt Instrument [Line Items] | |
Interest Expense | 2,097 |
Accrued Interest Balance | 5,585 |
Amortization of Debt Discount | 1,002 |
Unamortized Discount | 1,351 |
Convertible Note 21 [Member] | |
Debt Instrument [Line Items] | |
Interest Expense | 2,097 |
Accrued Interest Balance | 5,015 |
Amortization of Debt Discount | 1,516 |
Unamortized Discount | 2,578 |
Convertible Note 22 [Member] | |
Debt Instrument [Line Items] | |
Interest Expense | 3,744 |
Accrued Interest Balance | 7,731 |
Amortization of Debt Discount | 13,657 |
Unamortized Discount | 31,424 |
Convertible Note 24 [Member] | |
Debt Instrument [Line Items] | |
Interest Expense | 5,344 |
Accrued Interest Balance | 9,119 |
Amortization of Debt Discount | 16,648 |
Unamortized Discount | 44,322 |
Convertible Note 25 [Member] | |
Debt Instrument [Line Items] | |
Interest Expense | 2,617 |
Accrued Interest Balance | 4,239 |
Amortization of Debt Discount | 8,518 |
Unamortized Discount | 22,854 |
Convertible Note 26 [Member] | |
Debt Instrument [Line Items] | |
Interest Expense | 3,055 |
Accrued Interest Balance | 4,715 |
Amortization of Debt Discount | 9,691 |
Unamortized Discount | 25,881 |
Convertible Note 27 [Member] | |
Debt Instrument [Line Items] | |
Interest Expense | 1,783 |
Accrued Interest Balance | 2,654 |
Amortization of Debt Discount | 7,223 |
Unamortized Discount | 20,369 |
Convertible Note 28 [Member] | |
Debt Instrument [Line Items] | |
Interest Expense | 3,055 |
Accrued Interest Balance | 4,416 |
Amortization of Debt Discount | 10,758 |
Unamortized Discount | 29,317 |
Convertible Note 29 [Member] | |
Debt Instrument [Line Items] | |
Interest Expense | 2,836 |
Accrued Interest Balance | 3,792 |
Amortization of Debt Discount | 8,372 |
Unamortized Discount | 25,682 |
Convertible Note 30 [Member] | |
Debt Instrument [Line Items] | |
Interest Expense | 4,363 |
Accrued Interest Balance | 5,691 |
Amortization of Debt Discount | 14,079 |
Unamortized Discount | 43,972 |
Convertible Note 31 [Member] | |
Debt Instrument [Line Items] | |
Interest Expense | 5,454 |
Accrued Interest Balance | 6,883 |
Amortization of Debt Discount | 15,742 |
Unamortized Discount | 48,092 |
Convertible Note 32 [Member] | |
Debt Instrument [Line Items] | |
Interest Expense | 5,454 |
Accrued Interest Balance | 5,454 |
Amortization of Debt Discount | 14,380 |
Unamortized Discount | 49,425 |
Convertible Note 33 [Member] | |
Debt Instrument [Line Items] | |
Interest Expense | 1,600 |
Accrued Interest Balance | 1,600 |
Amortization of Debt Discount | 6,763 |
Unamortized Discount | 71,447 |
Convertible Note 34 [Member] | |
Debt Instrument [Line Items] | |
Interest Expense | 4,328 |
Accrued Interest Balance | 4,328 |
Amortization of Debt Discount | 9,409 |
Unamortized Discount | 53,852 |
Convertible Note 35 [Member] | |
Debt Instrument [Line Items] | |
Interest Expense | 677 |
Accrued Interest Balance | 677 |
Amortization of Debt Discount | 2,189 |
Unamortized Discount | 39,931 |
Convertible Note 36 [Member] | |
Debt Instrument [Line Items] | |
Interest Expense | 3,695 |
Accrued Interest Balance | 3,695 |
Amortization of Debt Discount | 6,999 |
Unamortized Discount | 38,400 |
Convertible Note 37 [Member] | |
Debt Instrument [Line Items] | |
Interest Expense | 3,201 |
Accrued Interest Balance | 3,201 |
Amortization of Debt Discount | 8,559 |
Unamortized Discount | 123,669 |
Convertible Note 38 [Member] | |
Debt Instrument [Line Items] | |
Interest Expense | 1,838 |
Accrued Interest Balance | 1,838 |
Amortization of Debt Discount | 5,924 |
Unamortized Discount | 79,078 |
Convertible Note 39 [Member] | |
Debt Instrument [Line Items] | |
Interest Expense | 4,084 |
Accrued Interest Balance | 4,084 |
Amortization of Debt Discount | 15,815 |
Unamortized Discount | 178,145 |
Convertible Note 40 [Member] | |
Debt Instrument [Line Items] | |
Interest Expense | 949 |
Accrued Interest Balance | 949 |
Amortization of Debt Discount | 6,386 |
Unamortized Discount | 87,489 |
Convertible Note 41 [Member] | |
Debt Instrument [Line Items] | |
Interest Expense | |
Accrued Interest Balance | |
Amortization of Debt Discount | |
Unamortized Discount | $ 17,605 |
CONVERTIBLE NOTE PAYABLE (Detai
CONVERTIBLE NOTE PAYABLE (Details Narrative) - USD ($) | 9 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Nov. 23, 2021 | |
Debt Instrument [Line Items] | |||
Convertible notes payable | $ 4,281,617 | $ 180,400 | |
Gain on extinguishment of debt | 32,544 | ||
Debt face amount | 5,322,743 | ||
Net proceeds | 4,178,506 | $ 865,000 | |
Legal fees | 22,500 | ||
Convertible Note 1 [Member] | |||
Debt Instrument [Line Items] | |||
Debt face amount | 4,453,543 | ||
Original issue discount | 481,278 | ||
Convertible Notes 1 [Member] | |||
Debt Instrument [Line Items] | |||
Net proceeds | $ 3,949,765 |
DERIVATIVE FINANCIAL INSTRUME_3
DERIVATIVE FINANCIAL INSTRUMENTS (Details - Derivative liabilities) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2021 | Dec. 31, 2020 | |
Debt Securities, Held-to-maturity, Allowance for Credit Loss [Line Items] | ||||
Compound embedded derivatives, shares | 1,372,797,202 | 311,625,168 | 1,372,797,202 | 311,625,168 |
Compound embedded derivatives, value | $ (2,199,087) | $ (739,574) | $ (2,199,087) | $ (739,574) |
Derivative, Gain (Loss) on Derivative, Net | (112,379) | (69,002) | (467,321) | (715,405) |
Compound Embedded Derivatives [Member] | ||||
Debt Securities, Held-to-maturity, Allowance for Credit Loss [Line Items] | ||||
Derivative, Gain (Loss) on Derivative, Net | (66,894) | 194,410 | (421,836) | (592,997) |
Day One Derivative Loss [Member] | ||||
Debt Securities, Held-to-maturity, Allowance for Credit Loss [Line Items] | ||||
Derivative, Gain (Loss) on Derivative, Net | $ (45,485) | $ (125,408) | $ (45,485) | $ (125,408) |
DERIVATIVE FINANCIAL INSTRUME_4
DERIVATIVE FINANCIAL INSTRUMENTS (Details - Significant inputs) | 9 Months Ended |
Dec. 31, 2021$ / shares | |
Derivative [Line Items] | |
Quoted market price on valuation date | 0.0029 |
Contractual term to maturity | 0.005 Years – 1.0 Years |
Equivalent Volatility | 90.12% - 170.73% |
Interest rate | 8.00% |
Minimum [Member] | |
Derivative [Line Items] | |
Contractual conversion rate | $ 0.0001 |
Maximum [Member] | |
Derivative [Line Items] | |
Contractual conversion rate | $ 0.01 |
DERIVATIVE FINANCIAL INSTRUME_5
DERIVATIVE FINANCIAL INSTRUMENTS (Details - Change in fair value) - USD ($) | 9 Months Ended | 12 Months Ended |
Dec. 31, 2021 | Mar. 31, 2021 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ||
Derivative liabilities, beginning balance | $ 1,137,623 | $ 58,790 |
Compound embedded derivatives | 1,088,514 | 732,416 |
Conversions | (287,897) | (859,352) |
Derivative extinguished / debt repaid in cash | (160,989) | (126,892) |
Loss (gain) on changes in fair value inputs and assumptions reflected in income | 421,836 | 1,332,661 |
Derivative liabilities, ending balance | $ 2,199,087 | $ 1,137,623 |
EQUITY (Details Narrative)
EQUITY (Details Narrative) - USD ($) | Dec. 28, 2021 | Dec. 22, 2021 | Dec. 14, 2021 | Dec. 06, 2021 | Oct. 26, 2021 | Oct. 19, 2021 | Oct. 08, 2021 | Oct. 05, 2021 | Jul. 21, 2021 | Jul. 15, 2021 | Jul. 13, 2021 | Jun. 25, 2021 | Jun. 16, 2021 | Jun. 03, 2021 | May 21, 2021 | May 13, 2021 | Apr. 14, 2021 | Apr. 10, 2021 | Apr. 02, 2021 | Dec. 31, 2020 | Sep. 20, 2020 | Sep. 14, 2020 | Sep. 09, 2020 | Sep. 02, 2020 | Aug. 20, 2020 | Aug. 19, 2020 | Aug. 13, 2020 | Aug. 10, 2020 | Jul. 31, 2020 | Jul. 10, 2020 | Jun. 16, 2020 | May 08, 2020 | Apr. 23, 2020 | Dec. 31, 2021 | Sep. 30, 2021 | Jun. 30, 2021 | Sep. 30, 2020 | Jun. 30, 2020 | Dec. 31, 2021 | Dec. 31, 2020 | Mar. 31, 2021 |
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||||||||||||
Number of shares converted, value | $ 287,897 | $ 859,352 | |||||||||||||||||||||||||||||||||||||||
Number of shares issued, value | $ 45,000 | $ 300,000 | $ 880,000 | $ 465,000 | |||||||||||||||||||||||||||||||||||||
Stock issued for services, value | 292,400 | $ 23,650 | $ 74,933 | $ 14,400 | |||||||||||||||||||||||||||||||||||||
Principal amount | 5,322,743 | 5,322,743 | |||||||||||||||||||||||||||||||||||||||
Accrued interest | 204,820 | 204,820 | |||||||||||||||||||||||||||||||||||||||
Derivative liabilities | $ 2,199,087 | 2,199,087 | $ 1,137,623 | ||||||||||||||||||||||||||||||||||||||
Proceeds from sale of stock | 1,225,000 | $ 465,000 | |||||||||||||||||||||||||||||||||||||||
Loss on extinguishment of debt | $ 32,544 | ||||||||||||||||||||||||||||||||||||||||
Common Stock [Member] | |||||||||||||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||||||||||||
Stock issued new, shares | 2,900,000 | 35,000,000 | 11,250,000 | 22,000,000 | 13,333,334 | 13,333,334 | 13,333,334 | ||||||||||||||||||||||||||||||||||
Issuance of common stock for services | 10,000,000 | 3,733,333 | |||||||||||||||||||||||||||||||||||||||
Stock issued for services, value | $ 26,133 | ||||||||||||||||||||||||||||||||||||||||
Proceeds from sale of stock | $ 45,000 | $ 165,000 | $ 100,000 | $ 100,000 | $ 100,000 | ||||||||||||||||||||||||||||||||||||
Issuance of shares for employees and non employees | 72,000,000 | 17,000,000 | |||||||||||||||||||||||||||||||||||||||
GS Capital [Member] | |||||||||||||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||||||||||||
Debt conversion shares issued | 4,292,915 | ||||||||||||||||||||||||||||||||||||||||
Number of shares converted, value | $ 84,000 | $ 84,000 | $ 84,000 | $ 7,341 | |||||||||||||||||||||||||||||||||||||
Stock issued new, shares | 12,123,426 | 8,468,394 | 5,071,885 | ||||||||||||||||||||||||||||||||||||||
Number of shares issued, value | $ 262,363 | $ 155,914 | $ 16,558 | ||||||||||||||||||||||||||||||||||||||
Number of shares converted | 12,123,426 | 8,468,394 | 5,071,885 | ||||||||||||||||||||||||||||||||||||||
Principal amount | $ 55,000 | $ 12,500 | $ 7,500 | ||||||||||||||||||||||||||||||||||||||
Accrued interest | 4,075 | 871 | 488 | ||||||||||||||||||||||||||||||||||||||
Derivative liabilities | 142,990 | 138,647 | 8,570 | ||||||||||||||||||||||||||||||||||||||
Loss on extinguishment of debt | 60,298 | 3,896 | |||||||||||||||||||||||||||||||||||||||
GS Capital [Member] | Principal [Member] | |||||||||||||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||||||||||||
Number of shares converted, value | $ 40,000 | $ 84,000 | $ 100,000 | 55,000 | 12,500 | 7,500 | |||||||||||||||||||||||||||||||||||
GS Capital [Member] | Accrued Interest [Member] | |||||||||||||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||||||||||||
Number of shares converted, value | $ 5,944 | $ 11,580 | $ 13,479 | $ 4,075 | $ 871 | $ 488 | |||||||||||||||||||||||||||||||||||
GS Capital [Member] | Common Stock [Member] | |||||||||||||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||||||||||||
Stock issued new, shares | 33,658,688 | 37,306,982 | 44,293,306 | ||||||||||||||||||||||||||||||||||||||
Stock issued for conversion of note, shares | 25,000,000 | 25,000,000 | 31,250,000 | 50,000,000 | 13,750,000 | 50,000,000 | |||||||||||||||||||||||||||||||||||
Stock issued conversion of note, amount | $ 100,000 | $ 100,000 | $ 125,000 | $ 200,000 | $ 55,000 | $ 200,000 | |||||||||||||||||||||||||||||||||||
W L E S L P L L C [Member] | |||||||||||||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||||||||||||
Debt conversion shares issued | 12,000,000 | ||||||||||||||||||||||||||||||||||||||||
Number of shares converted, value | $ 30,000 | ||||||||||||||||||||||||||||||||||||||||
Stock issued new, shares | 12,000,000 | ||||||||||||||||||||||||||||||||||||||||
Number of shares issued, value | $ 48,281 | ||||||||||||||||||||||||||||||||||||||||
Loss on settlement of debt | $ 18,281 | ||||||||||||||||||||||||||||||||||||||||
Veyo Partners [Member] | Common Stock [Member] | |||||||||||||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||||||||||||
Issuance of common stock for services | 4,000,000 | 4,000,000 | 4,000,000 | ||||||||||||||||||||||||||||||||||||||
Stock issued for services, value | $ 34,800 | $ 14,000 | $ 14,400 | ||||||||||||||||||||||||||||||||||||||
A E S Capital [Member] | Common Stock [Member] | |||||||||||||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||||||||||||
Stock issued for conversion of note, shares | 25,000,000 | 25,000,000 | 25,000,000 | ||||||||||||||||||||||||||||||||||||||
Stock issued conversion of note, amount | $ 100,000 | $ 100,000 | $ 100,000 | ||||||||||||||||||||||||||||||||||||||
Rex Chan [Member] | Common Stock [Member] | |||||||||||||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||||||||||||
Issuance of common stock for services | 1,500,000 | ||||||||||||||||||||||||||||||||||||||||
Stock issued for services, value | $ 6,450 | ||||||||||||||||||||||||||||||||||||||||
B M Giancarlo [Member] | Common Stock [Member] | |||||||||||||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||||||||||||
Issuance of common stock for services | 2,000,000 | ||||||||||||||||||||||||||||||||||||||||
Stock issued for services, value | $ 8,600 | ||||||||||||||||||||||||||||||||||||||||
Carlos Diaz [Member] | Common Stock [Member] | |||||||||||||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||||||||||||
Issuance of common stock for services | 2,000,000 | ||||||||||||||||||||||||||||||||||||||||
Stock issued for services, value | $ 8,600 | ||||||||||||||||||||||||||||||||||||||||
Geneva Roth [Member] | Common Stock [Member] | |||||||||||||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||||||||||||
Stock issued for conversion of note, shares | 25,000,000 | ||||||||||||||||||||||||||||||||||||||||
Stock issued conversion of note, amount | $ 100,000 |
LEASES (Details - Right-of-use
LEASES (Details - Right-of-use asset) - USD ($) | Dec. 31, 2021 | Mar. 31, 2021 |
Office lease | $ 2,035,198 | |
Less: accumulated amortization | (386,035) | |
Right-of-use asset, net | 1,649,163 | $ 1,575,792 |
Kokomo Lease [Member] | ||
Office lease | 375,483 | |
Less: accumulated amortization | (77,434) | |
Right-of-use asset, net | 298,049 | |
Valparaiso Lease [Member] | ||
Office lease | 374,360 | |
Less: accumulated amortization | (129,853) | |
Right-of-use asset, net | 244,507 | |
Merrill Lease [Member] | ||
Office lease | 701,404 | |
Less: accumulated amortization | (94,697) | |
Right-of-use asset, net | 606,707 | |
Tuscaloosa Lease [Member] | ||
Office lease | 222,087 | |
Less: accumulated amortization | (52,766) | |
Right-of-use asset, net | 169,321 | |
Birmingham Lease [Member] | ||
Office lease | 284,745 | |
Less: accumulated amortization | (30,289) | |
Right-of-use asset, net | 254,456 | |
Tuscaloosa Lease Additional [Member] | ||
Office lease | 77,119 | |
Less: accumulated amortization | (996) | |
Right-of-use asset, net | $ 76,123 |
LEASES (Details - Operating lea
LEASES (Details - Operating lease liability) - USD ($) | Dec. 31, 2021 | Mar. 31, 2021 |
Office lease | $ 1,724,742 | |
Less: current portion | (426,212) | $ 0 |
Long term portion | 1,298,530 | $ 1,319,457 |
Kokomo Lease [Member] | ||
Office lease | 307,187 | |
Less: current portion | (66,008) | |
Long term portion | 241,179 | |
Valparaiso Lease [Member] | ||
Office lease | 244,508 | |
Less: current portion | (116,171) | |
Long term portion | 128,336 | |
Merrill Lease [Member] | ||
Office lease | 673,147 | |
Less: current portion | (123,746) | |
Long term portion | 549,402 | |
Tuscaloosa Lease [Member] | ||
Office lease | 169,321 | |
Less: current portion | (58,292) | |
Long term portion | 111,029 | |
Birmingham Lease [Member] | ||
Office lease | 254,456 | |
Less: current portion | (49,377) | |
Long term portion | 205,079 | |
Tuscaloosa Lease Additional [Member] | ||
Office lease | 76,123 | |
Less: current portion | (12,618) | |
Long term portion | $ 63,505 |
LEASES (Details - Maturity lea
LEASES (Details - Maturity lease liability) | Dec. 31, 2021USD ($) |
Fiscal year ending March 31, 2022 | $ 130,988 |
Fiscal year ending March 31, 2023 | 593,396 |
Fiscal year ending March 31, 2024 | 564,536 |
Fiscal year ending March 31, 2025 | 424,242 |
Fiscal year ending March 31, 2026 | 326,807 |
Fiscal year ending March 31, 2027 | 19,000 |
Present value discount | (334,227) |
Lease liability | 1,724,742 |
Birmingham Lease [Member] | |
Fiscal year ending March 31, 2022 | 18,000 |
Fiscal year ending March 31, 2023 | 72,000 |
Fiscal year ending March 31, 2024 | 72,000 |
Fiscal year ending March 31, 2025 | 72,000 |
Fiscal year ending March 31, 2026 | 72,000 |
Fiscal year ending March 31, 2027 | 6,000 |
Present value discount | (57,544) |
Lease liability | 254,456 |
Kokomo Lease [Member] | |
Fiscal year ending March 31, 2022 | 22,969 |
Fiscal year ending March 31, 2023 | 94,172 |
Fiscal year ending March 31, 2024 | 98,880 |
Fiscal year ending March 31, 2025 | 101,292 |
Fiscal year ending March 31, 2026 | 50,646 |
Fiscal year ending March 31, 2027 | |
Present value discount | (60,772) |
Lease liability | 307,187 |
Valparaiso Lease [Member] | |
Fiscal year ending March 31, 2022 | 33,569 |
Fiscal year ending March 31, 2023 | 134,274 |
Fiscal year ending March 31, 2024 | 100,706 |
Fiscal year ending March 31, 2025 | |
Fiscal year ending March 31, 2026 | |
Fiscal year ending March 31, 2027 | |
Present value discount | (24,041) |
Lease liability | 244,508 |
Merrill Lease [Member] | |
Fiscal year ending March 31, 2022 | 33,575 |
Fiscal year ending March 31, 2023 | 201,450 |
Fiscal year ending March 31, 2024 | 201,450 |
Fiscal year ending March 31, 2025 | 201,450 |
Fiscal year ending March 31, 2026 | 184,661 |
Fiscal year ending March 31, 2027 | |
Present value discount | (149,439) |
Lease liability | 673,147 |
Tuscaloosa Lease [Member] | |
Fiscal year ending March 31, 2022 | 18,000 |
Fiscal year ending March 31, 2023 | 72,000 |
Fiscal year ending March 31, 2024 | 72,000 |
Fiscal year ending March 31, 2025 | 30,000 |
Fiscal year ending March 31, 2026 | |
Fiscal year ending March 31, 2027 | |
Present value discount | (22,679) |
Lease liability | 169,321 |
Tuscaloosa Additional Space Lease [Member] | |
Fiscal year ending March 31, 2022 | 4,875 |
Fiscal year ending March 31, 2023 | 19,500 |
Fiscal year ending March 31, 2024 | 19,500 |
Fiscal year ending March 31, 2025 | 19,500 |
Fiscal year ending March 31, 2026 | 19,500 |
Fiscal year ending March 31, 2027 | 13,000 |
Present value discount | (19,752) |
Lease liability | $ 76,123 |
LEASES (Details Narrative)
LEASES (Details Narrative) - USD ($) | 3 Months Ended | 9 Months Ended |
Nov. 23, 2021 | Dec. 31, 2021 | |
Valparaiso Lease [Member] | ||
Debt Instrument, Frequency of Periodic Payment | monthly | |
Monthly lease payments | $ 7,625 | |
Lease expiration date | Dec. 31, 2023 | |
Merrill Lease [Member] | ||
Debt Instrument, Frequency of Periodic Payment | monthly | |
Monthly lease payments | $ 11,190 | |
Lease expiration date | Feb. 28, 2026 | |
Tuscaloosa Lease [Member] | ||
Debt Instrument, Frequency of Periodic Payment | monthly | |
Monthly lease payments | $ 6,000 | |
Lease expiration date | Mar. 6, 2024 | |
Birmingham Lease [Member] | ||
Debt Instrument, Frequency of Periodic Payment | monthly | |
Monthly lease payments | $ 6,000 | |
Lease expiration date | Apr. 30, 2026 | |
Valparaiso Additional Space Lease [Member] | ||
Debt Instrument, Frequency of Periodic Payment | monthly | |
Monthly lease payments | $ 4,250 | |
Decrease in operating lease right of use asset | $ 369,663 | |
Decrease in operating lease liability | $ 375,883 | |
Tuscaloosa Additional Space Lease [Member] | ||
Debt Instrument, Frequency of Periodic Payment | monthly | |
Monthly lease payments | $ 1,625 |
COMMITMENTS AND CONTINGENCIES (
COMMITMENTS AND CONTINGENCIES (Details Narrative) | 9 Months Ended |
Dec. 31, 2021USD ($)shares | |
Commitments and Contingencies Disclosure [Abstract] | |
Annual salary | $ | $ 120,000 |
Shares issued | shares | 40,000,000 |
SUBSEQUENT EVENTS (Details Narr
SUBSEQUENT EVENTS (Details Narrative) | 1 Months Ended |
Jan. 19, 2022 | |
Subsequent Event [Member] | |
Subsequent Event [Line Items] | |
Debt Instrument, Maturity Date | Jan. 19, 2023 |