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4. ADVANCES FROM OFFICER AND STOCKHOLDER
6 Months Ended
Sep. 30, 2016
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, 2016 and March 31, 2016 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 quarter ended September 30, 2016 and the year ended March 31, 2016, respectively, the CEO made additional unsecured advances totaling $10,000 and $5,000. Also during the six months ended September 30, 2016, the Company converted $10,000 of the advances into notes payable. At September 30, 2016 and March 31, 2016, respectively, advances from the CEO were $-0- and $-0- respectively.

 

The Company has notes payable to the CEO in the aggregate amount of $714,455 and $704,455 as of September 30, 2016 and March 31, 2016, respectively. Accrued interest owed on these notes at September 30, 2016 and March 31, 2016 is $183,037 and $175,759, respectively. These notes and accrued interest are convertible into 38,399,365 and 37,535,471 shares of restricted common stock of the company.

 

At September 30, 2016 and March 31, 2016, advances from the entity controlled by the CEO were $10,500 and $10,500 and notes payable totaled $160,250 and $160,250, respectively. Accrued interest owed on these notes at September 30, 2016 and March 31, 2016 is $31,870 and $29,711, respectively. These notes and accrued interest are convertible into 3,093,200 and 3,059,127 shares of restricted common stock of the company.