Cover
Cover - USD ($) | 12 Months Ended | ||
Mar. 31, 2024 | Jul. 11, 2024 | Sep. 30, 2023 | |
Cover [Abstract] | |||
Document Type | 10-K | ||
Amendment Flag | false | ||
Document Annual Report | true | ||
Document Transition Report | false | ||
Document Period End Date | Mar. 31, 2024 | ||
Document Fiscal Period Focus | FY | ||
Document Fiscal Year Focus | 2024 | ||
Current Fiscal Year End Date | --03-31 | ||
Entity File Number | 000-23476 | ||
Entity Registrant Name | GROOVE BOTANICALS INC. | ||
Entity Central Index Key | 0000918573 | ||
Entity Tax Identification Number | 84-1168832 | ||
Entity Incorporation, State or Country Code | NV | ||
Entity Address, Address Line One | 310 Fourth Avenue South | ||
Entity Address, Address Line Two | Suite 7000 | ||
Entity Address, City or Town | Minneapolis | ||
Entity Address, State or Province | MN | ||
Entity Address, Postal Zip Code | 55415 | ||
City Area Code | 612 | ||
Local Phone Number | 315-5068 | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Interactive Data Current | Yes | ||
Entity Filer Category | Non-accelerated Filer | ||
Entity Small Business | true | ||
Entity Emerging Growth Company | true | ||
Elected Not To Use the Extended Transition Period | false | ||
Entity Shell Company | false | ||
Entity Public Float | $ 4,033,145 | ||
Entity Common Stock, Shares Outstanding | 59,643,062 | ||
Documents Incorporated by Reference [Text Block] | None | ||
ICFR Auditor Attestation Flag | false | ||
Document Financial Statement Error Correction [Flag] | false | ||
Auditor Firm ID | 6662 | ||
Auditor Name | M. S. Madhava Rao | ||
Auditor Location | Bangalore, India |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) | Mar. 31, 2024 | Mar. 31, 2023 |
Current Assets: | ||
Cash | $ 1,688 | $ 4,566 |
Prepaid Expenses | 454 | 482 |
Total Current Assets | 2,142 | 5,048 |
TOTAL ASSETS | 2,142 | 5,048 |
Current Liabilities: | ||
Accounts Payable and Accrued Liabilities | 91,172 | 37,754 |
Interest Payable | 14,492 | |
Related Party Payable | 453,057 | 301,100 |
Convertible Notes Payable | 90,000 | |
Dividend payable, related parties | 218,470 | |
Total Current Liabilities | 762,699 | 443,346 |
Total Liabilities | 762,699 | 443,346 |
Stockholders’ Equity | ||
Common Stock, $0.001 par value, 200,000,000 shares authorized; 59,643,062 and 57,643,062 shares issued and outstanding as of March 31, 2024 and March 31, 2023, respectively | 59,643 | 57,643 |
Additional paid-in capital | 34,026,869 | 33,930,569 |
Accumulated deficit | (34,847,277) | (34,426,718) |
Total stockholder’s equity | (760,557) | (438,298) |
TOTAL LIABILITIES AND STOCKHOLDER’S DEFICIT | 2,142 | 5,048 |
Series A Preferred Stock [Member] | ||
Stockholders’ Equity | ||
Preferred stock, value | 10 | 10 |
Series B Preferred Stock [Member] | ||
Stockholders’ Equity | ||
Preferred stock, value | $ 198 | $ 198 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - $ / shares | Mar. 31, 2024 | Mar. 31, 2023 |
Common stock, par value | $ 0.001 | $ 0.001 |
Common stock, shares authorized | 200,000,000 | 200,000,000 |
Common stock, shares issued | 59,643,062 | 57,643,062 |
Common stock, shares outstanding | 59,643,062 | 57,643,062 |
Series A Preferred Stock [Member] | ||
Preferred stock, par value | $ 0.10 | $ 0.10 |
Preferred stock, shares authorized | 100 | 100 |
Preferred stock, shares issued | 100 | 100 |
Preferred stock, shares outstanding | 100 | 100 |
Series B Preferred Stock [Member] | ||
Preferred stock, par value | $ 0.10 | $ 0.10 |
Preferred stock, shares authorized | 2,000 | 2,000 |
Preferred stock, shares issued | 1,983 | 1,983 |
Preferred stock, shares outstanding | 1,983 | 1,983 |
Consolidated Statements of Oper
Consolidated Statements of Operations - USD ($) | 12 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Expenses: | ||
Selling, General and Administrative Expenses | $ 73,743 | $ 75,468 |
Rent | 18,576 | 11,796 |
Legal and Professional Expenses | 95,962 | 58,350 |
Consulting Expense | 78,300 | 29,900 |
Total operating expenses | 266,581 | 175,514 |
Operating loss | (266,581) | (175,514) |
Other Income (Expense) | ||
Amortization of Debt Discount | (74,876) | |
Change in Derivative Liability | 95,575 | |
Gain on Settlement of Debt | 71,242 | 54,571 |
Interest Income (Expense) | (6,750) | (21,662) |
Miscellaneous Other Income (Expense) | 1,180 | |
Total Other Income (Expense) | 64,492 | 54,788 |
Net (loss) | (202,089) | (120,726) |
Dividend on Preferred Stock | (218,470) | |
Net (loss) attributable to common shareholders | $ (420,559) | $ (120,726) |
Basic loss per common share | $ (0.01) | $ 0 |
Diluted loss per common share | $ (0.01) | $ 0 |
Weighted average common shares outstanding Basic | 58,880,767 | 53,511,829 |
Weighted average common shares outstanding diluted | 58,880,767 | 53,511,829 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Stockholders' Equity - USD ($) | Series A Preferred Stock [Member] | Series B Preferred Stock [Member] | Common Stock [Member] | Common Stock to be Issued [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Total |
Beginning balance, value at Mar. 31, 2022 | $ 10 | $ 198 | $ 49,193 | $ 3,000 | $ 33,798,656 | $ (34,305,992) | $ (454,935) |
Beginning balance, shares at Mar. 31, 2022 | 100 | 1,983 | 49,193,062 | 3,000,000 | |||
Issuance of Stock for Cash Received in Prior Period | $ 3,000 | $ (3,000) | |||||
Issuance of Stock for Cash Received in Prior Period, shares | 3,000,000 | (3,000,000) | |||||
Issuance of Stock for Cash | $ 2,150 | 40,813 | 42,963 | ||||
Issuance of Stock for Cash, shares | 2,150,000 | ||||||
Issuance of Stock for Consulting | $ 500 | 29,400 | 29,900 | ||||
Issuance of Stock for Consulting, shares | 500,000 | ||||||
Issuance of Stock for Conversion of Debt | $ 2,750 | 57,750 | 60,500 | ||||
Issuance of Stock for Conversion of Debt, shares | 2,750,000 | ||||||
Issuance of Stock for Website and Social Media Services | $ 50 | 3,950 | 4,000 | ||||
Issuance of Stock for Website and Social Media Services, shares | 50,000 | ||||||
Net (loss) | (120,726) | (120,726) | |||||
Ending balance, value at Mar. 31, 2023 | $ 10 | $ 198 | $ 57,643 | 33,930,569 | (34,426,718) | (438,298) | |
Ending balance, shares at Mar. 31, 2023 | 100 | 1,983 | 57,643,062 | ||||
Issuance of Stock for Cash | $ 1,000 | 19,000 | 20,000 | ||||
Issuance of Stock for Cash, shares | 1,000,000 | ||||||
Issuance of Stock for Consulting | $ 1,000 | 77,300 | 78,300 | ||||
Issuance of Stock for Consulting, shares | 1,000,000 | ||||||
Accrued dividend | (202,089) | (202,089) | |||||
Net (loss) | (153,755) | (153,755) | |||||
Ending balance, value at Mar. 31, 2024 | $ 10 | $ 198 | $ 59,643 | $ 34,026,869 | $ (34,847,277) | $ (760,557) | |
Ending balance, shares at Mar. 31, 2024 | 100 | 1,983 | 59,643,062 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Cash Flows - USD ($) | 12 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Cash Flow From Operating Activities | ||
Net Loss | $ (202,089) | $ (120,726) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Stock Issued for Outside Services | 30,000 | 14,000 |
Amortization of Debt Discount | 74,876 | |
Change in Derivative Liability | (95,575) | |
Gain on Settlement of Debt | (71,242) | (54,571) |
Accrued Interest | 6,750 | 14,504 |
Accrued Payroll | 48,000 | 48,000 |
Bad debt | 25 | 25 |
Changes in working capital | ||
(Increase) Decrease in Accounts Receivable | 226 | |
Increase in Prepaid Expenses | 28 | (482) |
Increase (Decrease) in Accounts Payable and Accrued Liabilities | 53,418 | (2,838) |
Net Cash Used in Operating Activities | (86,835) | (95,503) |
Cash Flow From Investing Activities | ||
Net Cash From Investing Activities | ||
Cash Flow From Financing Activities | ||
Funds received from Related Party | 104,915 | 168,000 |
Funds distributed to Related Party | (958) | (9,428) |
Repayment of Outstanding Convertible Debt | (40,000) | (54,650) |
Repayment of Outstanding Contingent Liability | (95,350) | |
Funds received for Issuance of Common Stock | 20,000 | 42,963 |
Net Cash From Financing Activities | 83,957 | 51,535 |
Net Change in Cash | (2,878) | (43,968) |
Cash at Beginning of Period | 4,566 | 48,534 |
Cash at End of Period | 1,688 | 4,566 |
Net cash paid for: | ||
Interest | ||
Income Taxes | ||
Summary of Non-cash Investing and Financing Information: | ||
Issuance of stock to settle interest payable | 3,342 | |
Issuance of stock to settle convertible note | $ 50,000 |
ORGANIZATION AND OPERATIONS
ORGANIZATION AND OPERATIONS | 12 Months Ended |
Mar. 31, 2024 | |
Accounting Policies [Abstract] | |
ORGANIZATION AND OPERATIONS | NOTE 1 - ORGANIZATION AND OPERATIONS Current Operations Groove Botanicals, Inc. (the “Company”), (formerly known as Avalon Oil & Gas, Inc.), was originally incorporated in Colorado on April 25, 1991, under the name Snow Runner (USA), Inc. The Company was the general partner of Snow Runner (USA) Ltd.; a Colorado limited partnership to sell proprietary snow skates under the name “Sled Dogs” which was dissolved in August 1992. In late 1993, the Company relocated its operations to Minnesota and in January 1994 changed our name to Snow Runner, Inc. In November 1994 we changed our name to the Sled Dogs Company. On May 25, 1999, we filed articles of merger with Xdogs.com Inc., changing our state of domicile to Nevada. On June 22, 2005, the Corporation changed our name from XDOGS.com, Inc. to Avalon Oil and Gas, Inc. On May 14, 2018, the Corporation changed our name from Avalon Oil and Gas, Inc., to Groove Botanicals, Inc. Until August 2, 2021, when we filed a 15-12B to suspend duty to file reports under sections 13 and 15(d) of the securities exchange act of 1934, we were a reporting company. Subsequently, on September 14, 2023 we filed a Form 10 with the Securities and Exchange Commission, which became effective 60 days later. Since inception we have operated, unsuccessfully, in various different industries. Currently, we plan to assemble a portfolio of early-stage EV Battery Technologies developed from Universities in Norway, Sweden and Finland, and seek grants from the State of Minnesota Department of Economic Development to find and identify corporate partners to commercialize these technologies and ultimately produce revenues for the Company. The Company does not currently own any patents or technologies related to the EV battery industry, and the process to acquire patents and technologies can be costly, and as such, the Company is not guaranteed to acquire any such patents. Management believes that the technologies available in the specialized energy industry present a stable business model with high growth potential and we are actively working towards an impactful acquisition in this space. |
SUMMARY OF SIGNIFICANT ACCOUNTI
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 12 Months Ended |
Mar. 31, 2024 | |
Accounting Policies [Abstract] | |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The accompanying consolidated financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United Stated of America (“U.S. GAAP”) for financial information. Accordingly, they include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. The consolidated financial statements include all adjustments (consisting of normal recurring adjustments) which are, in the opinion of management, necessary in order to make the financial statements not misleading. The consolidated balance sheets as of March 31, 2024 and 2023, were derived from the Company’s consolidated financial statements at that date. Basis of Consolidation The Company’s consolidated financial statements include the accounts of Groove Botanicals, Inc., and its two 100% controlled non-operating subsidiaries formed in Wyoming, Biotrex, Inc., and Maxidyne, Inc. Intercompany accounts and transactions have been eliminated in consolidation. Use of Estimates The preparation of consolidated financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Specifically, such estimates were made by the Company for the valuation of derivative liability, stock compensation and beneficial conversion feature expenses. Actual results could differ from those estimates. Financial Instruments The Company's financial instruments primarily consist of cash and cash equivalents, accounts payable and accrued liabilities, related party payables, dividends payable and other debt. The carrying values of the Company's financial instruments approximate fair value. FASB ASC 820, Fair Value Measurements and Disclosures ("ASC 820") establishes a framework for all fair value measurements and expands disclosures related to fair value measurement and developments. ASC 820 defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. ASC 820 requires that assets and liabilities measured at fair value are classified and disclosed in one of the following three categories: Level 1—Quoted market prices for identical assets or liabilities in active markets or observable inputs; Level 2—Significant other observable inputs that can be corroborated by observable market data; and Level 3—Significant unobservable inputs that cannot be corroborated by observable market data. The Company believes that the carrying amounts of cash and cash equivalents, accounts payable, related party payables, accrued dividends and debt approximate fair value based on either their short-term nature or on terms currently available to the Company in financial markets. Net Loss Per Share The Company computes net income (loss) per share in accordance with ASC 260, Earning per Share. ASC 260 requires presentation of both basic and diluted earnings per share (EPS) on the face of the income statement. Basic EPS is computed by dividing net income (loss) available to common shareholders (numerator) by the weighted average number of shares outstanding (denominator) during the period. Diluted EPS gives effect to all dilutive potential common shares outstanding during the period using the treasury stock method and convertible preferred stock using the if-converted method. In computing Diluted EPS, the average stock price for the period is used in determining the number of shares assumed to be purchased from the exercise of stock options or warrants. Diluted EPS excludes all dilutive potential shares if their effect is anti-dilutive. As the Company has continued to report operating losses for the periods covered by this report, the impact of potentially dilutive securities would be antidilutive and therefore is not presented. Income Taxes The Company is taxed as a C corporation for income tax purposes. The Company accounts for income taxes under the liability method, and deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying values of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates in effect for the year in which those temporary differences are expected to be recovered or settled. A valuation allowance is provided on deferred tax assets if it is determined that it is more likely than not that the deferred tax asset will not be realized. The Company records interest, net of any applicable related income tax benefit, on potential income tax contingencies as a component of income tax expense. The Company records tax positions taken or expected to be taken in a tax return based upon the amount that is more likely than not to be realized or paid, including in connection with the resolution of any related appeals or other legal processes. Accordingly, the Company recognizes liabilities for certain unrecognized tax benefits based on the amounts that are more likely than not to be settled with the relevant taxing authority. The Company recognizes interest and/or penalties related to unrecognized tax benefits as a component of income tax expense. Beneficial Conversion Feature The Company measures certain convertible debt using a nondetachable conversion feature known as a beneficial conversion feature, or BCF. A convertible instrument contains a BCF when the conversion price is less than the fair value of the shares into which the instrument is convertible at the commitment date. From time to time, the Company may issue convertible notes that may contain a beneficial conversion feature. A beneficial conversion feature exists on the date a convertible note is issued when the fair value of the underlying common stock to which the note is convertible into is in excess of the remaining unallocated proceeds of the note after first considering the allocation of a portion of the note proceeds to the fair value of the warrants, if related warrants have been granted. The intrinsic value of the beneficial conversion feature is recorded as a debt discount with a corresponding amount to additional paid-in capital. The debt discount is amortized to interest expense over the life of the note using the effective interest method. Debt Issuance Cost Debt issuance costs incurred in connection with the issuance of debt are capitalized and amortized to interest expense over the term of the debt using the effective interest method. The unamortized amount is presented as a reduction of debt on the balance sheet. In August 2020, the FASB issued ASU No. 2020-06, Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging - Contracts in Entity’s Own Equity (Subtopic 815-40) (“ASU 2020-06”). ASU 2020-06 simplifies the accounting for convertible debt instruments and convertible preferred stock by removing the existing guidance in ASC 470-20 that requires entities to account for beneficial conversion features and cash conversion features in equity, separately from the host convertible debt or preferred stock. Two methods of transition were permitted upon adoption: full retrospective and modified retrospective. The Company has yet to adopt ASC 2020-06. The accounting impact will be a reclassification from Additional Paid-In Capital to Retained Earnings. The Company adopted ASC 2020-06 as of April 1, 2023. Recently Issued Accounting Pronouncements In November 2023, the FASB issued Accounting Standards Update 2023-07, Segment Reporting—Improvements to Reportable Segment Disclosures In December 2023, the FASB issued Accounting Standards Update 2023-09, Improvements to Income Tax Disclosures In March 2024, the SEC adopted the final rule under SEC Release No. 33-11275, The Enhancement and Standardization of Climate Related Disclosures for Investors |
GOING CONCERN
GOING CONCERN | 12 Months Ended |
Mar. 31, 2024 | |
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 which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. As shown in the consolidated financial statements, the Company has incurred recurring net losses since its inception and has raised limited capital. The Company had a net loss of $ 202,089 120,726 34,847,277 34,426,718 |
CASH
CASH | 12 Months Ended |
Mar. 31, 2024 | |
Cash and Cash Equivalents [Abstract] | |
CASH | NOTE 4 – CASH The Company considers all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents. As of March 31, 2024, the Company’s cash consisted of non-restricted cash. |
RELATED PARTY TRANSACTIONS
RELATED PARTY TRANSACTIONS | 12 Months Ended |
Mar. 31, 2024 | |
Related Party Transactions [Abstract] | |
RELATED PARTY TRANSACTIONS | NOTE 5 – RELATED PARTY TRANSACTIONS The Company had a related party payable of $ 453,057 301,100 48,000 Kent Rodriguez under the terms of an employment agreement with its CEO entered into April 1, 2020, which designates monthly payments due to CEO Kent Rodriguez in the amount of $ 4,000 On June 3, 2022, the Company received a loan from the Company’s CEO in the amount of $ 125,000 During the fiscal year ended March 31, 2024, the Company accrued $ 40,000 |
CONVERTIBLE NOTES PAYABLE
CONVERTIBLE NOTES PAYABLE | 12 Months Ended |
Mar. 31, 2024 | |
Disclosure Convertible Notes Payable Abstract | |
CONVERTIBLE NOTES PAYABLE | NOTE 6 – CONVERTIBLE NOTES PAYABLE (a) Convertible notes payable consist of a $ 230,000 10% January 30, 2019 230,000 27,957 54,650 95,350 $50,000 54,650 52,000 Further, there was also an amendment of the settlement agreement on June 3, 2022, the Company satisfied its fully outstanding convertible debts and related contingent liability via settlement payment of $ 125,000 25,000 During the fiscal year ended March 31, 2023, the debt was paid in full. (b) Convertible notes payable consists of a $ 40,000 June 30, 2022 0.02 40,000 Further on March 7, 2022, the Company issued additional convertible promissory note in the amount of $ 60,000 March 7, 2023 10% 0.02 On July 18, 2022, a Letter Agreement was drafted between the Company and the debtholder, which establishes the settlement of these debts once the Company’s Form 10 goes effective. On January 23, 2023 the Company and the convertible note holder mutually agreed to settle any and all amounts owed pursuant to 1) the Consulting Agreement and Convertible Promissory Note in the amount of $ 40,000 60,000 $10,000 was paid on January 24, 2023. $ 40,000 71,242 including interest forgiven of $ 21,242 As of March 31, 2024 and March 31, 2023, the balance of the convertible note was $ 0 90,000 (c) On July 23, 2021 45,000 8% 20,000 45,000 5,000 5,000 29,570 Per agreements dated August 5, 2021, the Company issued 6,000,000 0.02 (d) On October 1, 2021, the Company issued a convertible promissory note in the amount of $ 50,000 5% 0.02 50,000 50,000 50,000 50,000 3,342 2,750,000 The Company had a convertible note payable of $ 0 0 The Company had convertible notes payable of $0 and $90,000 as of March 31, 2024 and 2023, respectively as detailed below: Schedule of convertible note payable March 31, March 31, Beginning Balance $ 90,000 $ 164,774 Repayments (40,000 ) (54,650 ) Debt extinguished per settlement (50,000 ) (45,000 ) Conversion of notes payable into common stock — (50,000 ) Amortization of discounts — 74,876 Convertible notes payable, net (Ending Balance) $ — $ 90,000 Below is the summary of the principal balance and debt discounts as of March 31, 2024: Schedule of convertible promissory notes Convertible Start Date End Date Initial Note Principal Balance Debt Discounts Amortization Debt Discounts as of March 31, 2024 Robert Hymers III 3/5/2021 6/30/2022 $ 40,000 $ 40,000 ($ 40,000 ) — Robert Hymers 3/7/2022 3/7/2023 $ 60,000 $ 60,000 ($ 60,000 ) — Total — Remaining note principal balance — Total convertible promissory notes, net $ — Below is the summary of the principal balance and debt discounts as of March 31, 2023: Convertible Start Date End Date Initial Note Principal Balance Debt Discounts Amortization Debt Discounts as of March 31, 2023 Robert Hymers III 3/5/2021 6/30/2022 $ 40,000 $ 40,000 ($ 40,000 ) — RaiseRight LLC 7/23/2021 3/31/2023 $ 45,000 $ 45,000 ($ 45,000 ) — Robert Hymers 3/7/2022 3/7/2023 $ 60,000 $ 30,000 ($ 30,000 ) — Westworld Financial Capital, LLC 10/1/2021 9/30/2022 $ 50,000 $ 50,000 ($ 50,000 ) — Total — Remaining note principal balance $ 90,000 Total convertible promissory notes, net $ 90,000 |
PREFERRED STOCK
PREFERRED STOCK | 12 Months Ended |
Mar. 31, 2024 | |
Equity [Abstract] | |
PREFERRED STOCK | NOTE 7 – PREFERRED STOCK The Company is authorized to issue 1,000,000 shares of Preferred Stock. We have authorized 100 2,000 0.10 100 1,983 Series A Preferred Stock holds designations of cash dividends at the rate of 8% of the amount per share of Series A Preferred Stock per annum in the form of “Preferred Dividends”, voting rights on an as-converted to Common Stock basis, liquidation preferences, and conversion rights in which each share of Series A Preferred Stock shall, upon conversion, represent 0.51% of the then “Fully-Diluted Shares Outstanding” of the Company. On January 12, 2018, our Board of Directors agreed to amend Designation of the Series A Convertible Preferred Stock be amended by changing the ratio for conversion, in Article IV, subparagraph (a), from 0.4% to 0.51% so that upon conversion the number of shares of common stock to be exchanged shall equal 51% of then issued and outstanding common stock. In addition, on January 12, 2018, the Company and the Series A Holder agreed to forgive all accrued interest to date on the Series A, and to pause any accruals until April 1, 2023. The Series A Convertible Preferred Stock carries liquidating preference, over all other classes of stock, equal to the amount paid for the stock plus any unpaid dividends. Currently the value of the liquidation preference is $500,000, the amount of debt that the related party converted into the preferred stock. If this Preferred Stock were to be redeemed by the holder, it would result in an aggregate of the $ 500,000 5,000 40,000 Series B Preferred Stock holds designations of being ranked junior to the Series A Preferred Stock, cash dividends at the rate of 9% of the amount per share of Series B Preferred Stock per annum in the form of “Preferred Dividends”, a dividend received deduction for federal income tax purposes, liquidation preferences ranked junior to the Series A Preferred Stock, redemption of the Series B Preferred Stock by the Company at 105% of the Stated Value, plus accrued and unpaid Dividends, if prior to the two year anniversary of the Issuance Date, or at 100% of the State Value, plus accrued and unpaid Dividends, if on or after the two year anniversary of the Issuance Date, no voting rights, and right to notice of certain corporate action. All accrued dividends on the Series B have been settled through March 31, 2023, and none remained outstanding at March 31, 2023. Dividends began to accrue on the Series B Preferred Stock as of April 1, 2023. During the fiscal year ended March 31, 2024, the holder of the Series B preferred shares accrued $ 178,468 |
COMMON STOCK
COMMON STOCK | 12 Months Ended |
Mar. 31, 2024 | |
Equity [Abstract] | |
COMMON STOCK | NOTE 8 – COMMON STOCK The Company is authorized to issue 200,000,000 0.001 On April 8, 2022, the Company issued 500,000 10,000 On April 8, 2022, the Company issued 2,500,000 40,000 On October 4, 2022, the Company issued 150,000 3,000 On October 4, 2022, the Company issued 250,000 4,963 On December 1, 2022, the Company issued 500,000 0.0598 On December 1, 2022, the Company issued 1,500,000 29,970 On December 1, 2022, the Company issued 250,000 4,970 On January 31, 2023, the Company issued 2,750,000 On February 21, 2023, the Company issued 50,000 0.08 On April 15, 2023, the Company issued 1,000,000 0.783 On December 20, 2023, the Company issued 1,000,000 20,000 The Company had 59,643,062 57,643,062 |
DERIVATIVE FINANCIAL INSTRUMENT
DERIVATIVE FINANCIAL INSTRUMENTS | 12 Months Ended |
Mar. 31, 2024 | |
Investments, All Other Investments [Abstract] | |
DERIVATIVE FINANCIAL INSTRUMENTS | NOTE 9 – DERIVATIVE FINANCIAL INSTRUMENTS The fair value of derivative instruments is recorded and shown separately under liabilities. Changes in the fair value of derivatives liability are recorded in the consolidated statement of operations under other (income) expense. Our Company evaluates all of its financial instruments to determine if such instruments are derivatives or contain features that qualify as embedded derivatives. For derivative financial instruments that are accounted for as liabilities, the derivative instrument is initially recorded at its fair value and is then re-valued at each reporting date, with changes in the fair value reported in the consolidated statements of operations. For stock-based derivative financial instruments, the Company uses Black-Scholes Option Pricing model to value the derivative instruments at inception and on subsequent valuation dates. The classification of derivative instruments, including whether such instruments should be recorded as liabilities or as equity, is evaluated at the end of each reporting period. Derivative instrument liabilities are classified in the balance sheet as current or non-current based on whether or not net-cash settlement of the derivative instrument could be required within 12 months of the balance sheet date. Schedule of derivative instruments in statement of financial position fair value March 31, March 31, Annual Dividend Yield — 0 Stock Price — $ 0.025 0.069 Exercise Price — $ 0.018 0.035 Expected Life (Years) — 0.18 1.00 Risk-Free Interest Rate — 0.04% 0.52% Expected Volatility — 224% 422% Fair value of the derivative is summarized as below: Schedule of fair value of the derivative Beginning Balance, March 31, 2022 $ 95,576 Additions — Mark-to-Market (95,575 ) Cancellation of Derivative Liabilities Due to Cash Repayment (1 ) Ending Balance, March 31, 2023 $ — |
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES | 12 Months Ended |
Mar. 31, 2024 | |
Commitments and Contingencies Disclosure [Abstract] | |
COMMITMENTS AND CONTINGENCIES | NOTE 10: COMMITMENTS AND CONTINGENCIES As of March 31, 2024, and 2023, the Company has a month-to-month verbal lease agreement with the landlord, in which the Company pays $1,200 on a monthly basis. On January 30, 2018, the Company issued a $ 230,000 54,650 95,350 52,000 125,000 On June 3, 2022, the Company satisfied the convertible debt and related contingent liability mentioned in the preceding paragraph in the amounts of $ 54,650 95,350 125,000 25,000 In the normal course of business, we are subject to potential claims and disputes related to our business, including disputes with third parties over financing arrangements, as well as over service agreements with contractors. Some of these matters may be covered by our insurance and risk management programs or may result in claims or adjustments with our carriers. Management does not believe that the outcome of any of the legal proceedings to which the Company is a party will have a material adverse effect on its financial position or results of operations. |
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS | 12 Months Ended |
Mar. 31, 2024 | |
Subsequent Events [Abstract] | |
SUBSEQUENT EVENTS | NOTE 11 – SUBSEQUENT EVENTS Management has evaluated subsequent events pursuant to the requirements of ASC Topic 855 and has determined that no material subsequent events exist through the date of this filing other than as set out below. On July 29, 2024, Mr. Douglas Barton resigned as a director of the Company. Mr. Barton did not resign due to any dispute or disagreement with the Company or its practices. On July 30, 2024, the Company and Mr. Kent Rodriguez, CEO and sole director, agreed to extend the term of an Employment Contract originally entered into on April 1, 2020 expiring March 31, 2024, for a further two year term to March 31, 2026, retroactive to April 1, 2024. The agreement designates monthly payments to Kent Rodriguez in the amount of $4,000 or $48,000 per year. (2) Financial Statement Schedules Schedules required by this item have been omitted since they are either not required or not applicable or because the information required is included in the consolidated financial statements included elsewhere herein or the notes thereto. (3) Exhibits The following exhibits are filed with this Annual Report on Form 10-K or are incorporated herein by reference, as indicated. |
SUMMARY OF SIGNIFICANT ACCOUN_2
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies) | 12 Months Ended |
Mar. 31, 2024 | |
Accounting Policies [Abstract] | |
Basis of Presentation | Basis of Presentation The accompanying consolidated financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United Stated of America (“U.S. GAAP”) for financial information. Accordingly, they include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. The consolidated financial statements include all adjustments (consisting of normal recurring adjustments) which are, in the opinion of management, necessary in order to make the financial statements not misleading. The consolidated balance sheets as of March 31, 2024 and 2023, were derived from the Company’s consolidated financial statements at that date. |
Basis of Consolidation | Basis of Consolidation The Company’s consolidated financial statements include the accounts of Groove Botanicals, Inc., and its two 100% controlled non-operating subsidiaries formed in Wyoming, Biotrex, Inc., and Maxidyne, Inc. Intercompany accounts and transactions have been eliminated in consolidation. |
Use of Estimates | Use of Estimates The preparation of consolidated financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Specifically, such estimates were made by the Company for the valuation of derivative liability, stock compensation and beneficial conversion feature expenses. Actual results could differ from those estimates. |
Financial Instruments | Financial Instruments The Company's financial instruments primarily consist of cash and cash equivalents, accounts payable and accrued liabilities, related party payables, dividends payable and other debt. The carrying values of the Company's financial instruments approximate fair value. FASB ASC 820, Fair Value Measurements and Disclosures ("ASC 820") establishes a framework for all fair value measurements and expands disclosures related to fair value measurement and developments. ASC 820 defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. ASC 820 requires that assets and liabilities measured at fair value are classified and disclosed in one of the following three categories: Level 1—Quoted market prices for identical assets or liabilities in active markets or observable inputs; Level 2—Significant other observable inputs that can be corroborated by observable market data; and Level 3—Significant unobservable inputs that cannot be corroborated by observable market data. The Company believes that the carrying amounts of cash and cash equivalents, accounts payable, related party payables, accrued dividends and debt approximate fair value based on either their short-term nature or on terms currently available to the Company in financial markets. |
Net Loss Per Share | Net Loss Per Share The Company computes net income (loss) per share in accordance with ASC 260, Earning per Share. ASC 260 requires presentation of both basic and diluted earnings per share (EPS) on the face of the income statement. Basic EPS is computed by dividing net income (loss) available to common shareholders (numerator) by the weighted average number of shares outstanding (denominator) during the period. Diluted EPS gives effect to all dilutive potential common shares outstanding during the period using the treasury stock method and convertible preferred stock using the if-converted method. In computing Diluted EPS, the average stock price for the period is used in determining the number of shares assumed to be purchased from the exercise of stock options or warrants. Diluted EPS excludes all dilutive potential shares if their effect is anti-dilutive. As the Company has continued to report operating losses for the periods covered by this report, the impact of potentially dilutive securities would be antidilutive and therefore is not presented. |
Income Taxes | Income Taxes The Company is taxed as a C corporation for income tax purposes. The Company accounts for income taxes under the liability method, and deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying values of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates in effect for the year in which those temporary differences are expected to be recovered or settled. A valuation allowance is provided on deferred tax assets if it is determined that it is more likely than not that the deferred tax asset will not be realized. The Company records interest, net of any applicable related income tax benefit, on potential income tax contingencies as a component of income tax expense. The Company records tax positions taken or expected to be taken in a tax return based upon the amount that is more likely than not to be realized or paid, including in connection with the resolution of any related appeals or other legal processes. Accordingly, the Company recognizes liabilities for certain unrecognized tax benefits based on the amounts that are more likely than not to be settled with the relevant taxing authority. The Company recognizes interest and/or penalties related to unrecognized tax benefits as a component of income tax expense. |
Beneficial Conversion Feature | Beneficial Conversion Feature The Company measures certain convertible debt using a nondetachable conversion feature known as a beneficial conversion feature, or BCF. A convertible instrument contains a BCF when the conversion price is less than the fair value of the shares into which the instrument is convertible at the commitment date. From time to time, the Company may issue convertible notes that may contain a beneficial conversion feature. A beneficial conversion feature exists on the date a convertible note is issued when the fair value of the underlying common stock to which the note is convertible into is in excess of the remaining unallocated proceeds of the note after first considering the allocation of a portion of the note proceeds to the fair value of the warrants, if related warrants have been granted. The intrinsic value of the beneficial conversion feature is recorded as a debt discount with a corresponding amount to additional paid-in capital. The debt discount is amortized to interest expense over the life of the note using the effective interest method. |
Debt Issuance Cost | Debt Issuance Cost Debt issuance costs incurred in connection with the issuance of debt are capitalized and amortized to interest expense over the term of the debt using the effective interest method. The unamortized amount is presented as a reduction of debt on the balance sheet. In August 2020, the FASB issued ASU No. 2020-06, Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging - Contracts in Entity’s Own Equity (Subtopic 815-40) (“ASU 2020-06”). ASU 2020-06 simplifies the accounting for convertible debt instruments and convertible preferred stock by removing the existing guidance in ASC 470-20 that requires entities to account for beneficial conversion features and cash conversion features in equity, separately from the host convertible debt or preferred stock. Two methods of transition were permitted upon adoption: full retrospective and modified retrospective. The Company has yet to adopt ASC 2020-06. The accounting impact will be a reclassification from Additional Paid-In Capital to Retained Earnings. The Company adopted ASC 2020-06 as of April 1, 2023. |
Recently Issued Accounting Pronouncements | Recently Issued Accounting Pronouncements In November 2023, the FASB issued Accounting Standards Update 2023-07, Segment Reporting—Improvements to Reportable Segment Disclosures In December 2023, the FASB issued Accounting Standards Update 2023-09, Improvements to Income Tax Disclosures In March 2024, the SEC adopted the final rule under SEC Release No. 33-11275, The Enhancement and Standardization of Climate Related Disclosures for Investors |
CONVERTIBLE NOTES PAYABLE (Tabl
CONVERTIBLE NOTES PAYABLE (Tables) | 12 Months Ended |
Mar. 31, 2024 | |
Disclosure Convertible Notes Payable Abstract | |
Schedule of convertible note payable | Schedule of convertible note payable March 31, March 31, Beginning Balance $ 90,000 $ 164,774 Repayments (40,000 ) (54,650 ) Debt extinguished per settlement (50,000 ) (45,000 ) Conversion of notes payable into common stock — (50,000 ) Amortization of discounts — 74,876 Convertible notes payable, net (Ending Balance) $ — $ 90,000 |
Schedule of convertible promissory notes | Schedule of convertible promissory notes Convertible Start Date End Date Initial Note Principal Balance Debt Discounts Amortization Debt Discounts as of March 31, 2024 Robert Hymers III 3/5/2021 6/30/2022 $ 40,000 $ 40,000 ($ 40,000 ) — Robert Hymers 3/7/2022 3/7/2023 $ 60,000 $ 60,000 ($ 60,000 ) — Total — Remaining note principal balance — Total convertible promissory notes, net $ — Below is the summary of the principal balance and debt discounts as of March 31, 2023: Convertible Start Date End Date Initial Note Principal Balance Debt Discounts Amortization Debt Discounts as of March 31, 2023 Robert Hymers III 3/5/2021 6/30/2022 $ 40,000 $ 40,000 ($ 40,000 ) — RaiseRight LLC 7/23/2021 3/31/2023 $ 45,000 $ 45,000 ($ 45,000 ) — Robert Hymers 3/7/2022 3/7/2023 $ 60,000 $ 30,000 ($ 30,000 ) — Westworld Financial Capital, LLC 10/1/2021 9/30/2022 $ 50,000 $ 50,000 ($ 50,000 ) — Total — Remaining note principal balance $ 90,000 Total convertible promissory notes, net $ 90,000 |
DERIVATIVE FINANCIAL INSTRUME_2
DERIVATIVE FINANCIAL INSTRUMENTS (Tables) | 12 Months Ended |
Mar. 31, 2024 | |
Investments, All Other Investments [Abstract] | |
Schedule of derivative instruments in statement of financial position fair value | Schedule of derivative instruments in statement of financial position fair value March 31, March 31, Annual Dividend Yield — 0 Stock Price — $ 0.025 0.069 Exercise Price — $ 0.018 0.035 Expected Life (Years) — 0.18 1.00 Risk-Free Interest Rate — 0.04% 0.52% Expected Volatility — 224% 422% |
Schedule of fair value of the derivative | Schedule of fair value of the derivative Beginning Balance, March 31, 2022 $ 95,576 Additions — Mark-to-Market (95,575 ) Cancellation of Derivative Liabilities Due to Cash Repayment (1 ) Ending Balance, March 31, 2023 $ — |
GOING CONCERN (Details Narrativ
GOING CONCERN (Details Narrative) - USD ($) | 12 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ||
Net loss | $ 202,089 | $ 120,726 |
Accumulated deficit | $ 34,847,277 | $ 34,426,718 |
RELATED PARTY TRANSACTIONS (Det
RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($) | 12 Months Ended | |||
Apr. 02, 2020 | Mar. 31, 2024 | Mar. 31, 2023 | Jun. 03, 2022 | |
Related Party Transaction [Line Items] | ||||
Related party payment outstanding | $ 453,057 | $ 301,100 | ||
Wages payable | 48,000 | |||
Related party debt | $ 125,000 | |||
Accrued preferred dividends | 218,470 | |||
Series A Preferred Stock [Member] | ||||
Related Party Transaction [Line Items] | ||||
Accrued preferred dividends | 40,000 | |||
Chief Executive Officer [Member] | Kent Rodriguez [Member] | ||||
Related Party Transaction [Line Items] | ||||
Description of employment agreement | Kent Rodriguez under the terms of an employment agreement with its CEO entered into April 1, 2020, which designates monthly payments due to CEO Kent Rodriguez in the amount of $4,000. This agreement continued through March 31, 2024, and was subsequently renewed. These payables accrue no interest and have no maturity date. | |||
Monthly wages payment | $ 4,000 |
CONVERTIBLE NOTES PAYABLE (Deta
CONVERTIBLE NOTES PAYABLE (Details) - USD ($) | 12 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Disclosure Convertible Notes Payable Abstract | ||
Beginning Balance | $ 90,000 | $ 164,774 |
Repayments in cash | (40,000) | (54,650) |
Extinguishment under settlement agreement | (50,000) | (45,000) |
Conversion of notes payable into common stock | (50,000) | |
Amortization of discounts | 74,876 | |
Convertible notes payable, net (Ending Balance) | $ 90,000 |
CONVERTIBLE NOTES PAYABLE (De_2
CONVERTIBLE NOTES PAYABLE (Details 1) - USD ($) | 12 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | ||
Debt Discounts | ||
Remaining note principal balance | 90,000 | |
Total convertible promissory notes, net | $ 90,000 | |
Robert Hymers III [Member] | ||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | ||
Start Date | Mar. 05, 2021 | Mar. 05, 2021 |
End Date | Jun. 30, 2022 | Jun. 30, 2022 |
Initial Note Principal Balance | $ 40,000 | $ 40,000 |
Debt Discounts as of Issuance | 40,000 | 40,000 |
Amortization | 40,000 | 40,000 |
Debt Discounts | ||
Robert Hymers [Member] | ||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | ||
Start Date | Mar. 07, 2022 | Mar. 07, 2022 |
End Date | Mar. 07, 2023 | Mar. 07, 2023 |
Initial Note Principal Balance | $ 60,000 | $ 60,000 |
Debt Discounts as of Issuance | 60,000 | 30,000 |
Amortization | 60,000 | 30,000 |
Debt Discounts | ||
Raise Right LLC [Member] | ||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | ||
Start Date | Jul. 23, 2021 | |
End Date | Mar. 31, 2023 | |
Initial Note Principal Balance | $ 45,000 | |
Debt Discounts as of Issuance | 45,000 | |
Amortization | 45,000 | |
Debt Discounts | ||
Westworld Financial Capital LLC [Member] | ||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | ||
Start Date | Oct. 01, 2021 | |
End Date | Sep. 30, 2022 | |
Initial Note Principal Balance | $ 50,000 | |
Debt Discounts as of Issuance | 50,000 | |
Amortization | 50,000 | |
Debt Discounts |
CONVERTIBLE NOTES PAYABLE (De_3
CONVERTIBLE NOTES PAYABLE (Details Narrative) - USD ($) | 1 Months Ended | 12 Months Ended | |||||||||||||||||||||||
Dec. 01, 2022 | Oct. 04, 2022 | Oct. 04, 2022 | Jun. 03, 2022 | Apr. 08, 2022 | Mar. 07, 2022 | Oct. 01, 2021 | Aug. 05, 2021 | Jun. 03, 2021 | Mar. 05, 2021 | Dec. 31, 2023 | Dec. 20, 2023 | Mar. 31, 2023 | Mar. 29, 2023 | Feb. 22, 2023 | Dec. 31, 2022 | Jul. 23, 2021 | Jan. 30, 2018 | Mar. 31, 2024 | Mar. 31, 2023 | Mar. 31, 2022 | Mar. 28, 2023 | Mar. 23, 2023 | Feb. 21, 2023 | Mar. 31, 2019 | |
Short-Term Debt [Line Items] | |||||||||||||||||||||||||
Accrued interest payable | $ 14,492 | $ 14,492 | |||||||||||||||||||||||
Stock issued during the period, shares | 250,000 | 150,000 | 250,000 | 2,500,000 | 1,000,000 | ||||||||||||||||||||
Share Price | $ 0.0598 | $ 0.08 | |||||||||||||||||||||||
Amortization of debt discount | $ 74,876 | ||||||||||||||||||||||||
Three Different Parties [Member] | |||||||||||||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||||||||||||
Stock issued during the period, shares | 1,500,000 | 6,000,000 | |||||||||||||||||||||||
Share Price | $ 0.02 | ||||||||||||||||||||||||
Convertible Promissory Note [Member] | |||||||||||||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||||||||||||
Debt interest rate | 10% | ||||||||||||||||||||||||
Maturity date | Jan. 30, 2019 | ||||||||||||||||||||||||
Debt instrument principal amount | $ 230,000 | ||||||||||||||||||||||||
Accrued interest payable | $ 27,957 | ||||||||||||||||||||||||
Convertible Promissory Note [Member] | Settlement Agreement [Member] | |||||||||||||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||||||||||||
Convertible note | $ 54,650 | $ 54,650 | |||||||||||||||||||||||
Contingent liability | 95,350 | 95,350 | |||||||||||||||||||||||
Cash payment | $ 50,000 | ||||||||||||||||||||||||
Gain on debt extinguishment | $ 52,000 | ||||||||||||||||||||||||
Settlement payment | 125,000 | ||||||||||||||||||||||||
Gain on settlement of debt | $ 25,000 | ||||||||||||||||||||||||
Convertible Promissory Note [Member] | Third Party [Member] | |||||||||||||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||||||||||||
Convertible promissory note | $ 230,000 | ||||||||||||||||||||||||
Convertible Promissory Note 2 [Member] | |||||||||||||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||||||||||||
Debt interest rate | 2% | ||||||||||||||||||||||||
Debt instrument principal amount | $ 40,000 | ||||||||||||||||||||||||
Convertible note | $ 90,000 | 0 | 90,000 | ||||||||||||||||||||||
Convertible Promissory Note 2 [Member] | Settlement Agreement [Member] | |||||||||||||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||||||||||||
Settlement payment | $ 40,000 | ||||||||||||||||||||||||
Gain on settlement of debt | 71,242 | ||||||||||||||||||||||||
Interest forgiven | $ 21,242 | ||||||||||||||||||||||||
Convertible Promissory Note 2 [Member] | Third Party [Member] | |||||||||||||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||||||||||||
Convertible promissory note | $ 40,000 | ||||||||||||||||||||||||
Maturity date | Jun. 30, 2022 | ||||||||||||||||||||||||
Convertible Promissory Note 5 [Member] | |||||||||||||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||||||||||||
Convertible promissory note | $ 60,000 | ||||||||||||||||||||||||
Debt interest rate | 10% | ||||||||||||||||||||||||
Maturity date | Mar. 07, 2023 | ||||||||||||||||||||||||
Convertible note | $ 0 | ||||||||||||||||||||||||
Debt instrument conversion price | $ 0.02 | ||||||||||||||||||||||||
Convertible Promissory Note 3 [Member] | |||||||||||||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||||||||||||
Convertible promissory note | $ 45,000 | $ 45,000 | |||||||||||||||||||||||
Debt interest rate | 8% | ||||||||||||||||||||||||
Maturity date | Jul. 23, 2021 | ||||||||||||||||||||||||
Accrued interest payable | $ 5,000 | ||||||||||||||||||||||||
Convertible note | 0 | 0 | |||||||||||||||||||||||
Gain on debt extinguishment | $ 29,570 | ||||||||||||||||||||||||
Repayments of debt | $ 20,000 | ||||||||||||||||||||||||
Wired fee | $ 5,000 | ||||||||||||||||||||||||
Convertible Promissory Note 4 [Member] | |||||||||||||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||||||||||||
Convertible promissory note | $ 50,000 | ||||||||||||||||||||||||
Debt interest rate | 5% | ||||||||||||||||||||||||
Debt instrument principal amount | $ 50,000 | ||||||||||||||||||||||||
Accrued interest payable | $ 3,342 | ||||||||||||||||||||||||
Debt instrument conversion price | $ 0.02 | ||||||||||||||||||||||||
Proceeds from convertible debt | $ 50,000 | ||||||||||||||||||||||||
Amortization of debt discount | $ 50,000 | ||||||||||||||||||||||||
Debt instrument conversion shares | 2,750,000 |
PREFERRED STOCK (Details Narrat
PREFERRED STOCK (Details Narrative) - USD ($) | 12 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Class of Stock [Line Items] | ||
Liquidation preference, value | $ 500,000 | |
Liquidation preference per share | $ 5,000 | |
Accrued preferred dividends | $ 218,470 | |
Series A Preferred Stock [Member] | ||
Class of Stock [Line Items] | ||
Preferred stock, shares authorized | 100 | 100 |
Preferred stock, par value | $ 0.10 | $ 0.10 |
Preferred stock, shares issued | 100 | 100 |
Preferred stock, shares outstanding | 100 | 100 |
Accrued preferred dividends | $ 40,000 | |
Series B Preferred Stock [Member] | ||
Class of Stock [Line Items] | ||
Preferred stock, shares authorized | 2,000 | 2,000 |
Preferred stock, par value | $ 0.10 | $ 0.10 |
Preferred stock, shares issued | 1,983 | 1,983 |
Preferred stock, shares outstanding | 1,983 | 1,983 |
Accrued preferred dividends | $ 178,468 |
COMMON STOCK (Details Narrative
COMMON STOCK (Details Narrative) - USD ($) | 1 Months Ended | 12 Months Ended | |||||||||
Dec. 01, 2022 | Oct. 04, 2022 | Oct. 04, 2022 | Apr. 08, 2022 | Aug. 05, 2021 | Dec. 20, 2023 | Apr. 15, 2023 | Feb. 21, 2023 | Jan. 31, 2023 | Mar. 31, 2023 | Mar. 31, 2024 | |
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |||||||||||
Common stock, shares authorized | 200,000,000 | 200,000,000 | |||||||||
Common stock, par value | $ 0.001 | $ 0.001 | |||||||||
Stock issued during the period, shares | 250,000 | 250,000 | 150,000 | 2,500,000 | 1,000,000 | ||||||
Stock issued during the period, value | $ 4,970 | $ 40,000 | |||||||||
Proceeds from common stock | $ 4,963 | $ 3,000 | $ 20,000 | ||||||||
Stock issued in exchange for services | 500,000 | 50,000 | |||||||||
Share Price | $ 0.0598 | $ 0.08 | |||||||||
Stock issued for conversion of debt | 2,750,000 | ||||||||||
Common stock, shares issued | 57,643,062 | 59,643,062 | |||||||||
Common stock, shares outstanding | 57,643,062 | 59,643,062 | |||||||||
Consulting Agreement [Member] | |||||||||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |||||||||||
Stock issued in exchange for services | 1,000,000 | ||||||||||
Share Price | $ 0.783 | ||||||||||
Two Separate Parties [Member] | |||||||||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |||||||||||
Stock issued during the period, shares | 500,000 | ||||||||||
Stock issued during the period, value | $ 10,000 | ||||||||||
Three Different Parties [Member] | |||||||||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |||||||||||
Stock issued during the period, shares | 1,500,000 | 6,000,000 | |||||||||
Stock issued during the period, value | $ 29,970 | ||||||||||
Share Price | $ 0.02 |
DERIVATIVE FINANCIAL INSTRUME_3
DERIVATIVE FINANCIAL INSTRUMENTS (Details) - $ / shares | 12 Months Ended | |||
Mar. 31, 2023 | Mar. 31, 2022 | Feb. 21, 2023 | Dec. 01, 2022 | |
Annual Dividend Yield | 0% | 0% | ||
Stock Price | $ 0.08 | $ 0.0598 | ||
Exercise Price | ||||
Risk-Free Interest Rate | 0% | |||
Expected Volatility | 0% | |||
Minimum [Member] | ||||
Stock Price | $ 0.025 | |||
Exercise Price | $ 0.018 | |||
Expected Life (Years) | 2 months 4 days | |||
Risk-Free Interest Rate | 0.04% | |||
Expected Volatility | 224% | |||
Maximum [Member] | ||||
Stock Price | $ 0.069 | |||
Exercise Price | $ 0.035 | |||
Expected Life (Years) | 1 year | |||
Risk-Free Interest Rate | 0.52% | |||
Expected Volatility | 422% |
DERIVATIVE FINANCIAL INSTRUME_4
DERIVATIVE FINANCIAL INSTRUMENTS (Details 1) | 12 Months Ended |
Mar. 31, 2023 USD ($) | |
Investments, All Other Investments [Abstract] | |
Beginning Balance | $ 95,576 |
Mark-to-Market | (95,575) |
Cancellation of Derivative Liabilities Due to Cash Repayment | (1) |
Ending Balance |
COMMITMENTS AND CONTINGENCIES (
COMMITMENTS AND CONTINGENCIES (Details Narrative) - USD ($) | 12 Months Ended | ||||
Jun. 03, 2022 | Mar. 31, 2024 | Mar. 31, 2022 | Jun. 03, 2021 | Jan. 30, 2018 | |
Short-Term Debt [Line Items] | |||||
Verbal lease agreement description | Company has a month-to-month verbal lease agreement with the landlord, in which the Company pays $1,200 on a monthly basis. | ||||
Convertible Promissory Note [Member] | Settlement Agreement [Member] | |||||
Short-Term Debt [Line Items] | |||||
Convertible debt | $ 54,650 | $ 54,650 | |||
Contingent liability | 95,350 | $ 95,350 | |||
Gain on debt extinguishment | $ 52,000 | ||||
Loan from a related party | 125,000 | ||||
Gain on settlement of debt | $ 25,000 | ||||
Convertible Promissory Note [Member] | Third Party [Member] | |||||
Short-Term Debt [Line Items] | |||||
Convertible promissory note | $ 230,000 |