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RELATED PARTY TRANSACTIONS
6 Months Ended
Sep. 30, 2018
Related Party Transactions [Abstract]  
RELATED PARTY TRANSACTIONS

NOTE 4 – RELATED PARTY TRANSACTIONS

 

Advances from Stockholder:

Advances from a stockholder at September 30, 2018 and March 31, 2018 was $31,000.

 

Advances from Officer:

Our CEO, Ryan Corley, has made advances to the Company in prior years. During the six months ended September 30, 2018 and the year ended March 31, 2018, respectively, the CEO made additional unsecured advances totaling $-0- and $15,500. During the six months ended September 30, 2018 and the year ended March 31, 2018, the Company made payments on these advances of $-0- and $500, respectively. At September 30, 2018 and March 31, 2018, respectively, advances from the CEO were $-0- and $15,000, respectively.

 

Accrued Interest - officer

The Company has notes payable to the CEO in the aggregate amount of $764,455 and $749,455 as of September 30, 2018 and March 31, 2018, respectively. Accrued interest owed on these notes at September 30, 2018 and March 31, 2018 is $212,506 and $204,861, respectively. These notes and accrued interest are convertible into 42,388,166 and 41,411,316 shares of restricted common stock of the Company, as of September 30, 2018 and March 31, 2018 respectively.

 

Advances from officer - related party

At September 30, 2018 and March 31, 2018, advances from the entity controlled by the CEO was $10,500 and notes payable totaled $160,250. Accrued interest owed on these notes at September 30, 2018 and March 31, 2018 is $36,557 and $35,188, respectively. These notes and accrued interest are convertible into 3,180,115 and 3,155,917 shares of restricted common stock of the Company, as of September 30, 2018 and March 31, 2018, respectively.

 

Oil and Gas Leases

During the six months ended September 30, 2018, the Company paid $100 in transfer fees to acquire a lease on an additional 640 acres in the Rocky Mountain range located in the state of Colorado for a 4-year term. The lease was acquired from our President and CEO. Each year, the Company is responsible for making additional lease payments of $2.50 per acre to keep the lease

 

The Company conducts its business from the office of its CEO, Ryan Corley, rent free.