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NOTE 5 - ADVANCES FROM OFFICER AND STOCKHOLDER
12 Months Ended
Mar. 31, 2015
Related Party Transactions [Abstract]  
NOTE 5 - ADVANCES FROM OFFICER AND STOCKHOLDER

NOTE 5 – ADVANCES FROM OFFICER AND STOCKHOLDER

 

Advances from Stockholder:

Advances from two stockholders at March 31, 2015 and 2014 were $31,000 and $32,400, respectively.

 

Advances from Officer:

Our CEO, Ryan Corley, has made advances to the Company in prior years. During the years ended March 31, 2015 and 2014, the CEO made additional unsecured advances totaling $10,000 and $23,000. During the years ended March 31, 2015 and 2014, the Company made payments on these advances of $-0- and $1,000. Also during the years ended March 31, 2015 and 2014, the Company converted $2,000 and $20,000 of the advances into notes payable. At March 31, 2015 and 2014, advances from the CEO were $10,000 and $2,000 respectively.

 

The Company has notes payable to the CEO in the aggregate amount of $664,455 and $662,455 as of March 31, 2015 and 2014 .During the year ended March 31, 2015 and 2014, the Company converted $20,000 and $36,900 advances from the CEO to notes payable. Accrued interest owed on these notes at March 31, 2015 and 2014 is $148,704 and $135,569. These notes and accrued interest are convertible into 15,664,622 and 14,880,388 shares of restricted common stock of the company.

 

At March 31, 2015 and 2014, advances from the entity controlled by the CEO were $10,500 and $10,500 and notes payable totaled $160,250 and $160,250. Accrued interest owed on these notes at March 31, 2015 and 2014 is $25,392 and $21,014. These notes and accrued interest are convertible into 2,990,982 and 2,921,896 shares of restricted common stock of the company.