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4. ADVANCES FROM OFFICER AND STOCKHOLDER
6 Months Ended
Sep. 30, 2015
Related Party Transactions [Abstract]  
4. ADVANCES FROM OFFICER AND STOCKHOLDER

NOTE 4 – ADVANCES FROM OFFICER AND STOCKHOLDER

 

Advances from Stockholder:

Advances from a stockholder at September 30, 2015 and March 31, 2015 were $31,000 and $31,000, respectively.

 

Advances from Officer:

Our CEO, Ryan Corley, has made advances to the Company in prior years. During the six months ended September 30, 2015, and the year ended March 31, 2015, the CEO made additional unsecured advances totaling $5,000 and $10,000. During the year ended March 31, 2015, the Company converted $2,000 of the advances into notes payable. At September 30, 2015 and March 31, 2015, advances from the CEO were $40,000 and $10,000 respectively.

 

The Company has notes payable to the CEO in the aggregate amount of $664,455 and $664,455 as of September 30, 2015 and March 31, 2015. Accrued interest owed on these notes at September 30, 2015 and March 31, 2015 is $168,781 and $162,137. These notes and accrued interest are convertible into 35,186,578 and 34,854,350 shares of restricted common stock of the company.

 

At September 30, 2015 and March 31, 2015, 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 September 30, 2015 and March 31, 2015 is $26,552 and $25,392. These notes and accrued interest are convertible into 3,025,055 and 2,990,982 shares of restricted common stock of the company.