NOTE 5 - CONVERTIBLE NOTES PAYABLE

12 Months Ended

Mar. 31, 2017

Debt Disclosure [Abstract]

NOTE 5 - CONVERTIBLE NOTES PAYABLE

NOTE 5 – CONVERTIBLE NOTES PAYABLE

Convertible notes payable-related party consists of the following:	March 31,
	2017		2016
2% convertible notes payable to Ryan Corley, President of the Company, due on demand, convertible into a maximum of 35,878,984 common shares		719,455		704,455
2% convertible note payable to an entity controlled by Ryan Corley, President of the Company, due on demand, convertible into a maximum of 978,000 common shares		48,900		48,900
3% convertible notes payable to an entity controlled by Ryan Corley, President of the Company, due on demand, convertible into a maximum of 1,619,500 common shares		111,350		111,350
2% convertible notes payable to Douglas Goodsell, a related party, due on demand, convertible into a maximum of 519,828 common shares		10,396		10,396
Total notes payable-related party	$	890,101	$	875,101

Convertible notes payable consist of the following:	March 31,
	2017		2016
7% convertible notes payable to stockholders, which is past due, convertible into a maximum of 500,000 common shares,		100,000		100,000
7% convertible notes payable to stockholders, due August 12, 2018 convertible into a maximum of 250,000 common shares,		50,000		—
4% convertible notes payable to a stockholder, due on demand, convertible into a maximum of 350,000 common shares		175,000		175,000
2% convertible notes payable to stockholders, due on demand, convertible into a maximum of 1,100,000 common shares		25,000		25,000
Total notes payable	$	350,000	$	300,000

In August 2016, the Company issued a conventional convertible note in the aggregate amount of $50,000 to a stockholder. The proceeds in the amount of $50,000 is restricted and to be used to obtain natural gas and petroleum properties. In connection with the note, the Company issued 200,000 common shares, as additional interest, valued in the amount of $2,000. The notes is convertible into 250,000 common stock shares and accrue interest at a 7% per year rate. The Company determined that the note did not contain a beneficial conversion feature nor did the conversion option qualify for derivative accounting.

In March 2015, the Company issued two conventional convertible notes in the aggregate amount of $125,000 to stockholders. A portion of the proceeds in the amount of $100,000 is restricted and to be used to obtain natural gas and petroleum properties. In connection with these notes, the Company issued 250,000 common shares valued in the amount of $4,250. During the year ended March 31, 2016, $25,000 of these notes were treated as being repaid. The Company’s CEO transferred a private partnership interest to one of the note holders and then contributed the $25,000 in a non-cash transaction back to the Company. The effect of the transaction was that Convertible Notes payable were reduced by $25,000 and Advances from officer – related party was increased by $25,000. These notes are convertible into 500,000 common stock shares and accrue interest at a 7% per year rate. The Company determined that the notes did not contain a beneficial conversion feature. These notes were due March 16, 2017.