Form 10-Q Quarterly Report

0001078782-18-001218.txt : 20181030 0001078782-18-001218.hdr.sgml : 20181030 20181030172537 ACCESSION NUMBER: 0001078782-18-001218 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 50 CONFORMED PERIOD OF REPORT: 20180930 FILED AS OF DATE: 20181030 DATE AS OF CHANGE: 20181030 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Kyto Technology & Life Science, Inc. CENTRAL INDEX KEY: 0001164888 STANDARD INDUSTRIAL CLASSIFICATION: PHARMACEUTICAL PREPARATIONS [2834] IRS NUMBER: 651086538 STATE OF INCORPORATION: FL FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: 10-Q SEC ACT: 1934 Act SEC FILE NUMBER: 000-50390 FILM NUMBER: 181147967 BUSINESS ADDRESS: STREET 1: 13050 PALOMA ROAD CITY: LOS ALTOS HILLS STATE: CA ZIP: 94022 BUSINESS PHONE: (408) 313 5830 MAIL ADDRESS: STREET 1: 13050 PALOMA ROAD CITY: LOS ALTOS HILLS STATE: CA ZIP: 94022 FORMER COMPANY: FORMER CONFORMED NAME: KYTO BIOPHARMA INC DATE OF NAME CHANGE: 20030912 FORMER COMPANY: FORMER CONFORMED NAME: B TWELVE INC DATE OF NAME CHANGE: 20020111 10-Q 1 f10q093018_10q.htm FORM 10-Q QUARTERLY REPORT Form 10-Q Quarterly Report

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

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FORM 10-Q

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[X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended September 30, 2018

[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from: _____________ to _____________

KYTO TECHNOLOGY AND LIFE SCIENCE, INC.

(Exact name of registrant as specified in its charter)

FLORIDA	000-50390	65-1086538
(State or Other Jurisdiction	(Commission	(I.R.S. Employer
of Incorporation)	File Number)	Identification No.)

13050 Paloma Road, Los Altos Hills, CA 94022

(Address of Principal Executive Office) (Zip Code)

(408) 313 5830

(Registrant’s telephone number, including area code)

(Former name, former address and former fiscal year, if changed since last report)

———————

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. [X] Yes [ ] No

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (ss. 232.405 of this chapter) during the preceding 12 (or for such shorter period that the registrant was required to submit and post such files). [ ] Yes [X] No

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company.

Large accelerated filer	[ ]	Accelerated filer	[ ]
Non-accelerated filer	[ ]	Smaller reporting company	[X]

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). [ ] Yes [X] No

Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date.

5,027,703 Common Shares - $1.00 Par Value - as of October 30, 2018

KYTO Technology and Life Science, Inc.

For the quarterly period ended September 30, 2018

INDEX

	PART I. FINANCIAL INFORMATION

Item 1.	Financial Statements

	Condensed Balance Sheets as of September 30, 2018 (Unaudited) and March 31, 2018	3

	Unaudited Condensed Statements of Operations for the Three Months and Six Months Ended September 30, 2018 and 2017	4

	Unaudited Condensed Statement of Stockholders’ Deficit for the Six Months Ended September 30, 2018 and 2017	5

	Unaudited Condensed Statements of Cash Flows for the Six Months Ended September 30, 2018 and 2017	6

	Notes to Unaudited Condensed Financial Statements	7

Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations.	12

Item 3.	Quantitative and Qualitative Disclosures About Market Risk.	13

Item 4.	Controls and Procedures.	13

	PART II. OTHER INFORMATION

Item 1.	Legal Proceedings.	14

Item 1A.	Risk Factors.	14

Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds.	14

Item 3.	Defaults Upon Senior Securities.	14

Item 4.	Mine Safety Disclosures	14

Item 5.	Other Information	14

Item 6.	Exhibits	15

	Signatures	16

PART I - FINANCIAL INFORMATION

ITEM 1. FINANCIAL STATEMENTS

Kyto Technology and Life Science, Inc.
Condensed Balance Sheets

				September 30,		March 31,
				2018		2018
				(Unaudited)
ASSETS

Current Assets
	Cash		$	119,356	$	4
	Prepaid & other current assets			-		7,500

Total Current Assets				119,356		7,504

	Investments			587,000		-

Total Assets			$	706,356	$	7,504

LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)

Current Liabilities
	Accounts payable & accrued liabilities		$	29,749	$	13,030
	Accrued liabilities & loans - related party			6,550		311,430
Total Current Liabilities				36,299		324,460

Commitments and Contingencies				-		-

Stockholders' Equity (Deficit)
	Series A preferred convertible stock, $1.00 par value, 2,000,000 shares
		authorized, 1,337,500 and none issued and outstanding as of
		September 30, 2018 and March 31, 2018, respectively		1,337,500		-
	Series B preferred convertible stock, $0.80 par value, 1,500,000 shares
		authorized, none issued and outstanding as of September 30, 2018 and
		March 31, 2018, respectively		-		-
	Common stock, $0.0001 par value, 100,000,000 shares
		authorized, 5,027,703 and 3,139,747 issued and outstanding as of
		September 30, 2018 and March 31 2018, respectively		503		314
	Additional paid-in capital			31,811,023		32,063,476
	Accumulated deficit			(32,478,969)		(32,380,746)

Total Stockholders' Equity (Deficit)				670,057		(316,956)

Total Liabilities and Stockholders' Equity (Deficit)			$	706,356	$	7,504


The accompanying notes are an integral part of these unaudited condensed financial statements.

Kyto Technology and Life Science, Inc.
Condensed Statements of Operations
(Unaudited)

			For the Three Months Ended				For the Six Months Ended
			September 30				September 30
			2018		2017		2018		2017

Operating Expenses
	General and administrative	$	62,357	$	20,783	$	98,198	$	39,730

Total Operating Expenses			62,357		20,783		98,198		39,730

Loss from Operations			(62,357)		(20,783)		(98,198)		(39,730)

	Interest expense, net		(25)		-		(25)		-

Net Loss before taxes			(62,382)		(20,783)		(98,223)		(39,730)

	Net income (tax) benefit		-		-		-		-

Net Loss		$	(62,382)	$	(20,783)	$	(98,223)	$	(39,730)


Weighted average number of shares outstanding
	basic and diluted		5,027,703		3,139,747		4,488,287		3,139,747

Net loss per share - basic and diluted		$	(0.01)	$	(0.01)	$	(0.02)	$	(0.01)


The accompanying notes are an integral part of these unaudited condensed financial statements.

Kyto Technology and Life Science Inc
Condensed Statements of Shareholders' Equity and Accumulated Deficit



			(Unaudited)
			Preferred			Common		Additional
	Preferred		Stock	Common		Stock		Paid-in		Accumulated
	Stock #		Amount	Stock #		Amount		Capital		Deficit		Total

Balance, March 31, 2018	-	$	-	3,139,747	$	314	$	32,063,476	$	(32,380,746)	$	(316,956)

Net (loss) for six months ended September 30, 2018	-		-	-		-		-		(98,223)		(98,223)

Sale of preferred stock at $0.80 per share	937,500		937,500	-		-		(187,500)		-		750,000

Preferred stock issued for conversion of related party debt	400,000		400,000	-		-		(80,000)		-		320,000

Exercise of options for common stock at $.006 per share	-		-	1,887,956		189		11,139		-		11,328

Compensation expense on stock options	-		-	-		-		3,908		-		3,908

Balance, September 30, 2018	1,337,500	$	1,337,500	5,027,703	$	503	$	31,811,023	$	(32,478,969)	$	670,057


The accompanying notes are an integral part of these unaudited condensed financial statements.

Kyto Technology and Life Science Inc
Condensed Statements of Cash Flows
(unaudited)

				For the six months ended		For the six months ended
				September 30, 2018		September 30, 2017

CASH FLOW FROM OPERATING ACTIVITIES
	Net loss		$	(98,223)	$	(39,730)
	Adjustments to reconcile net loss to net cash used in operating activities
		Loss on conversion of related party debt		5,099		-
		Option compensation expense		3,908		-

	Increase / (decrease) in operating assets and liabilities
		Other current assets		7,500
		Accounts payable and accrued liabilities		16,719		28,309
	Total cash (used in) operating activities			(64,997)		(11,421)

CASH FLOW FROM INVESTING ACTIVITIES
		Purchase of equity investments		(587,000)		-
	Total cash used in investing activities			(587,000)		-

CASH FLOW FROM FINANCING ACTIVITIES
		Proceeds from sales of preferred stock		750,000		-
		Proceeds from exercise of options for common stock		11,328		-
		Advances from related party		10,021		11,460
	Total cash provided by financing activities			771,349		11,460

Net increase in cash				119,352		39

Cash at beginning of period				4		-

Cash at end of period			$	119,356	$	39

Supplemental Cash Flow Information:
		Interest Paid	$	25	$	-
		Taxes Paid	$	-	$	-

Non Cash Financing and Investing Activities
		Preferred shares issued for conversion of related party debt	$	320,000	$	-



The accompanying notes are an integral part of these unaudited condensed financial statements.

KYTO TECHNOLOGY AND LIFE SCIENCE INC.

NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS

September 30, 2018

NOTE 1 – DESCRIPTION OF BUSINESS

Kyto Technology and Life Science, Inc. was formed as a Florida corporation on March 5, 1999 under the name of B12 Inc. In August, 2002, the Company changed its name from B Twelve, Inc. to Kyto BioPharma Inc. and in May 2018, the name was changed again to Kyto Technology and Life Science, Inc.

The Company was originally formed to acquire and develop innovative minimally toxic and non-immunosuppressive proprietary drugs for the treatment of cancer, arthritis, and other proliferate and autoimmune diseases and had been looking at a number of strategies to become active. In April, 2018, the Board adopted a new business plan focused on the development of early stage technology and life science businesses through early stage investment funding. The Company has recruited a number of experienced investment consultants from a network that includes angel investors, corporate managers, and successful entrepreneurs across a number of technology and life science products and markets and relies on input from these advisors in conducting due diligence and making investment decisions. In order to offset the risk in early stage investing, the Company works with angel investment groups and participates only after these groups have committed to invest and does not plan to invest more than $200,000 in any single investment. The Company plans to generate revenue from two sources: (i) the sale of advisory services to its target investments and (ii) realised gains from the sale of the businesses in which it has invested. Generally, it is expected that investments will be realised from an exit within a period of four years.

NOTE 2 – BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES

The accompanying unaudited condensed financial statements of Kyto Technology and Life Science, Inc. (the "Company") have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (the "SEC”). Certain information and footnote disclosures, normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted pursuant to such SEC rules and regulations. Nevertheless, the Company believes that the disclosures are adequate to make the information presented not misleading. These interim unaudited condensed financial statements should be read in conjunction with the audited financial statements and notes thereto included in the Company's March 31, 2018 Annual Report as filed on Form 10K. In the opinion of management, all adjustments, including normal recurring adjustments necessary to present fairly the financial position of the Company with respect to the interim unaudited condensed financial statements and the results of its operations for the interim period ended September 30, 2018, have been included. The results of operations for interim periods are not necessarily indicative of the results for a full year. Although the Company has $119,356 in the bank at September 30, 2018 and has raised another $300,000 since September 30, 2018 management recognizes that it currently has no revenue and that revenue generation could be a slow and uncertain process depending on the success and liquidity of the businesses in which it invests. All cash received to date has originated from private placements of equity securities to accredited investors and there is no assurance that the Company will be able to continue to raise such funding to cover new investments and net operating expenses. Accordingly, there is no assurance that the Company will be able to meet its cash obligations when they come due and payable, which raises doubt over the Company’s ability to continue as a going concern from one year from the issuance of these financial statements.

USE OF ESTIMATES

In preparing financial statements, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements, and revenues and expenses during the period presented. Actual results may differ from these estimates.

Significant estimates during 2018 include the valuation allowance of stock options and warrants.

CASH AND CASH EQUIVALENTS

The Company considers all highly liquid investments with original maturities of three months or less at the time of purchase to be cash equivalents. There were no cash equivalents at September 30, 2018 and March 31, 2018, respectively.

CONCENTRATIONS

The Company maintains its cash in bank deposit accounts, which, at times, may exceed federally insured limits. As of September 30, 2018, the Company did not have any deposits in excess of federally insured limits. The Company has not experienced any losses in such accounts through September 30, 2018 and March 31, 2018, respectively.

NET LOSS PER COMMON SHARE

In accordance with Statement of Financial Accounting Standards Accounting Standard Codification Topic 260, "Earnings per Share", basic earnings per share is computed by dividing the net income less preferred dividends for the period by the weighted average number of common shares outstanding. Diluted earnings per share is computed by dividing net income less preferred dividends by the weighted average number of common shares outstanding including the effect of common stock equivalents. Common stock equivalents, consisting of stock options and warrants, have not been included in the calculation, as their effect is anti-dilutive for the periods presented.

STOCK-BASED COMPENSATION

Financial Accounting Standards Board Accounting Standards Codification Topic 718, “Stock Compensation” requires generally that all equity awards granted to employees be accounted for at “fair value.” This fair value is measured at grant date for stock settled awards, and at subsequent exercise or settlement for cash-settled awards. Under this method, the Company records an expense equal to the fair value of the options or warrants issued. The fair value is computed using the Black Scholes options pricing model. The Company did not grant any options or warrants prior to March 31, 2018.

INCOME TAXES

The Company accounts for income taxes under the Financial Accounting Standards Accounting Standard Codification Topic 740 "Accounting for Income Taxes" ("Topic 740"). Under Topic 740, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. Under Topic 740, the effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period, which includes the enactment date.

INVESTMENTS

The Company carries investments at the lower of cost or fair market value. These investments are accounted for as cost method investments in accordance with ASC 325 as we own less than 20% of the voting securities and do not have the ability to exercise significant influence over operating and financial policies of the entities. The Company reviews the performance of the underlying investments to determine their current and future potential value and liquidity. In the event that Management considers the value of an investment to be impaired, the carrying value of the investment will be written down by an impairment charge to reflect Management’s estimated valuation.

FAIR VALUE OF FINANCIAL INSTRUMENTS

The Company adopted Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 820, “Fair Value Measurements and Disclosures”, for assets and liabilities measured at fair value on a recurring basis. ASC 820 establishes a common definition for fair value to be applied to existing US GAAP that require the use of fair value measurements which establishes a framework for measuring fair value and expands disclosure about such fair value measurements.

ASC 820 defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Additionally, ASC 820 requires the use of valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs. These inputs are prioritized below:

Level 1: Observable inputs such as quoted market prices in active markets for identical assets or liabilities

Level 2: Observable market-based inputs or unobservable inputs that are corroborated by market data

Level 3: Unobservable inputs for which there is little or no market data, which require the use of the reporting entity’s own assumptions.

NOTE 3 – INVESTMENT

During the three months ended September 30, 2018, the Company made an aggregate investment of $200,000 in three separate early stage companies. In no case was there any financial or management control over the investment targets, and the ownership interest was below 15%. Accordingly, the Company carries these investments at cost and reviews results and expectations of target companies with target management on at least a quarterly basis to determine if there is any impairment in value, in which case the carrying value of the investment would be revalued. Management reviewed all investments in the quarter ended September 30, 2018 and there were no adjustments made for impairment.

NOTE 4 – ACCOUNTING STANDARDS UPDATES

Significant Recent Accounting Pronouncements

Management does not believe that any recently issued, but not yet effective, accounting standards if currently adopted would have a material effect on the accompanying unaudited condensed financial statements.

NOTE 5 – RELATED PARTY TRANSACTIONS

At March 31, 2018 a balance of $311,430 was payable to a director, chairman and major shareholder of the Company in respect of expenses and fees incurred by him on behalf of the Company. At June 30, 2018, a total of $314,901 of the related party loans and accrued liabilities were converted into 400,000 investment units (“Units”) consisting of 400,000 shares of Series A preferred stock, and 400,000 Warrants to purchase common stock at $1.20 per share. The units were valued at $0.80 per unit. (See Note 6.) The Company recorded a loss on conversion of related party debt of $0 and $5,099 respectively, during the three and six months ended September 30, 2018.

At September 30, 2018, $6,550 was due and payable to related parties. Of this amount $5,050 was due to the Company Chief Financial Officer for services provided and advances made by him to the Company, and $1,500 was due to the Chief Executive Officer as reimbursement for expenses incurred in the normal course of business.

The Company now operates virtually, and from public locations, and no longer leases any office space from related parties.

NOTE 6 – EQUITY

(A)PREFERRED STOCK

As of September 30, 2018 and March 31, 2018, there are 2,000,000 shares of Series A preferred stock (“Series A”) authorized at a par value of $1.00 per share. The Company has outstanding 1,337,500 shares of Series A as a result of the sale during the six months ended September 30, 2018 of 937,500 Units for $750,000 at $0.80 per Unit in a private placement to accredited investors, and 400,000 Units for the conversion of $320,000 of related party debt. The Units consist of one Series A share and one warrant per Unit. The Series A can either be converted into Common Shares upon listing of the Company on Nasdaq or elect to receive $1.60 per share. In the event of any liquidation or winding up of the Company, the holders of the Series A shall be entitled to receive in preference to the holders of Common Shares a per share amount equal to two times (2 X) their original purchase price plus any declared but unpaid dividends (the Liquidation Preference). All share issuances and obligations are recognized on the books and stock register, however, as at the date of this report certificates have not been delivered as a result of administrative delays in transferring to the Company’s selected stock transfer agent.

There are also 1,500,000 shares of Series B preferred stock (“Series B”) authorized at a par value of $0.80 per share. No Series B was issued or outstanding as at September 30, 2018 or March 31, 2018. The Series B can either be converted into Common Shares upon listing of the Company on Nasdaq or elect to receive $1.60 per share. In the event of any liquidation or winding up of the Company, the holders of the Series B shall be entitled to receive in preference to the holders of Common Shares and Series A, a per share amount equal to two times (2 X) their original purchase price plus any declared but unpaid dividends (the Liquidation Preference)

(B)COMMON STOCK

The Company has authorized 100,000,000 shares of common stock at a par value of $0.0001 per share. As of September 30, 2018, and March 31, 2018 a total of 5,027,703 and 3,139,747 shares of the Company’s common stock were issued and outstanding, respectively.

(C)PRIVATE PLACEMENT

In April 2018, in a non-brokered private placement, the Company offered accredited investors an opportunity to purchase a minimum of 875,000 and maximum of 1,500,000 Units. These Units consist of one Series A (convertible into one common share) and one warrant (exercisable into one common share at $1.20 per share for a period of three years). The Preferred Shares can be converted into Common Shares upon listing of the Company on NASDAQ, or redeemed for $1.60 per share. In the event of any liquidation or winding up of the Company, the holders of preferred shares shall be entitled to receive in preference to the holders of Common Shares a per share amount equal to (2x) the Original Purchase price plus any declared but unpaid dividends (“Liquidation preference”). The Units are priced at $0.80 per unit.

In April 2018, a total of $320,000 of related party loans and accrued liabilities were converted into Units consisting of 400,000 shares of Series A, and 400,000 Warrants to purchase common stock at $1.20 per share. Additionally, since April 2018, the Company has sold 937,500 investment units to accredited investors in a private placement for $750,000 in cash.

(D)STOCK OPTIONS

In April 2018, the Company approved the introduction of the Kyto Technology and Life Science, Inc. Incentive Stock Option Plan for the benefit of employees, consultants and directors, with the objective of securing the benefit of services for stock options rather than cash salaries. In the six months ended September 30, 2018, the Company granted a total of 2,697,085 options at an exercise price of $0.006 per share. On May 18, 2018, 1,887,956 options vested upon the initial closing of the private placement and were exercised for $11,328. The remaining balance of 809,129 options will become fully vested upon the final close of the private placement after the sale of 1,500,000 units.

	Number of options	Weighted average exercise price	Weighted average remaining life years
Outstanding March 31, 2018	-	-	-
Granted	2,697,085	$ 0.006	1.00
Exercised	(1,887,956)	$ 0.006	-
Cancelled	-	-	-
Outstanding September30, 2018	809,129	$ 0.006	0.50

Exercisable September 30, 2018	516,945	$ -	0.50

In connection with the grant of stock options the Company recognises the value of the related option expense using the Black Scholes model, with appropriate assumptions for option life, stock value, risk free interest rate, volatility, and cancellations. The assumptions used for options granted in the six months ended September 30, 2018 were as follows:

Stock Price at grant date	$ 0.006
Exercise Price	$ 0.006
Term in Years	1.00
Volatility assumed	73%
Annual dividend rate	0.0%
Risk free discount rate	1.79%

The compensation expense calculated at time of grant is amortised over the vesting period for the options granted. During the three and six months ended September 30, 2018, the Company amortised $357 and $3,908, respectively, as option expense.

No options were granted in prior periods.

(E)WARRANTS

In conjunction with the sale of stock Units, the Company issued 1,337,500 warrants to purchase common stock at a price of $1.20 per share for a period of three years. The Company values the warrants using the Black Scholes model, with appropriate assumptions for warrant life, stock value, risk free interest rate, and volatility. The assumptions used for warrants granted in the six months ended September 30, 2018 were as follows:

	Number of warrants	Weighted average exercise price	Weighted average remaining life years
Outstanding March 31, 2018	-	-	-
Granted	1,337,500	$ 1.20	3.00
Exercised	-	-	-
Cancelled	-	-	-
Outstanding September 30, 2018	1,337,500	$ 1.20	2.90

Exercisable September 30, 2018	1,337,500	$ 1.20	2.90

Stock Price at Valuation date	$ 0.030
Exercise Price	$ 1.20
Term in Years	3.00
Volatility assumed	73.0%
Annual dividend rate	0.0%
Risk free discount rate	1.79%

At September 30, 2018 the value of the warrants was $0 as the Company did not bifurcate the value of Series A and warrants within the Units sold. There were no warrants issued or outstanding at March 31, 2018.

NOTE 7 – SUBSEQUENT EVENTS

Subsequent to the September 30, 2018, the Company has raised a total of $300,000, for the sale of another 375,000 investment units.

ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITIONS AND RESULTS OF OPERATIONS

PLAN OF OPERATIONS

In April, 2018, the Board adopted a new business plan focussed on the development of early stage technology and life science businesses through a combination of small investment funding and a range of technical and advisory business services. In order to fund the new business plan, the Company converted $320,000 of related party debt and accrued liabilities and received $750,000 in cash from the sale of investment units under the terms of a private placement offered to accredited investors.

Although the Company has $119,356 in the bank at September 30, 2018 and has raised another $300,000 since that date, management recognizes that it currently has no revenue and that revenue generation could be a slow and uncertain process depending on the success and liquidity of the businesses in which it invests. All cash received to date has originated from private placements of equity securities to accredited investors and there is no assurance that the Company will be able to continue to raise such funding to cover new investments and net operating expenses. Accordingly, there is no assurance that the Company will be able to meet its cash obligations when they come due and payable, which raises doubt over the Company’s ability to continue as a going concern for a period of one year from the date of issuance of these financial statements.

Results of Operations

For the three months and six months ended September 30, 2018 the Company’s net loss was $62,382 and $98,223, respectively, compared to a net loss of $20,783 and $39,730 for the three months and six months ended September 30, 2017.

Liquidity and Capital Resources

The Company had a working capital deficit of $316,956 as of March 31, 2018. As a result of the private placement, the Company’s net working capital increased to $83,057 as of September 30, 2018. Cash was $4 as of March 31, 2018, and $119,356 as of September 30, 2018.

Cash from operating activities

The Company used net cash of $64,997 in operations during the six months ended September 30, 2018 compared to net cash of $11,421 used by operations for the six months ended September 30, 2017.

Cash from financing activities

The Company had a cash inflow from financing activities of $771,349 in the six months ended September 30, 2018 compared to $11,460 in the six months ended September 30, 2017. Cash outflow used in investing activities was $587,000 in the six months ended September 30, 2018 compared to $0 in the six months ended September 30, 2017.

The Company’s plan of operations for the next twelve months is to continue to focus its efforts on finding new sources of capital by means of private placements and to use this funding to fund additional investments as they become available, and to cover operating expenses.

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

Not required for smaller reporting company.

ITEM 4. CONTROLS AND PROCEDURES

Evaluation of Disclosure Controls and Procedures

We maintain disclosure controls and procedures that are designed to ensure that material information required to be disclosed in our periodic reports filed under the Securities Exchange Act of 1934, as amended, or 1934 Act, is recorded, processed, summarized, and reported within the time periods specified in the SEC’s rules and forms and to ensure that such information is accumulated and communicated to our management, including our chief executive officer/chief financial officer (principal financial officer) as appropriate, to allow timely decisions regarding required disclosure. During the quarter ended September 30, 2018 we carried out an evaluation, under the supervision and with the participation of our management, including the principal executive officer and the principal financial officer (principal financial officer), of the effectiveness of the design and operation of our disclosure controls and procedures, as defined in Rule 13(a)-15(e) under the 1934 Act. Based on this evaluation, because of the Company’s limited resources and limited number of employees, management concluded that our disclosure controls and procedures were ineffective as of September 30, 2018.

Limitations on Effectiveness of Controls and Procedures

Our management, including our Chief Executive Officer and Chief Financial Officer (principal financial officer), does not expect that our disclosure controls and procedures or our internal controls will prevent all errors and all fraud. A control system, no matter how well conceived and operated, can provide only reasonable, not absolute, assurance that the objectives of the control system are met. Further, the design of a control system must reflect the fact that there are resource constraints and the benefits of controls must be considered relative to their costs. Because of the inherent limitations in all control systems, no evaluation of controls can provide absolute assurance that all control issues and instances of fraud, if any, within the Company have been detected. These inherent limitations include, but are not limited to, the realities that judgments in decision-making can be faulty and that breakdowns can occur because of simple error or mistake. Additionally, controls can be circumvented by the individual acts of some persons, by collusion of two or more people, or by management override of the control. The design of any system of controls also is based in part upon certain assumptions about the likelihood of future events and there can be no assurance that any design will succeed in achieving its stated goals under all potential future conditions. Over time, controls may become inadequate because of changes in conditions, or the degree of compliance with the policies or procedures may deteriorate. Because of the inherent limitations in a cost-effective control system, misstatements due to error or fraud may occur and not be detected.

Internal Controls over Financial Reporting

During the quarter ended September 30, 2018, there have been no changes in our internal control over financial reporting that have materially affected or are reasonably likely to materially affect our internal controls over financial reporting.

PART II. OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS

None

ITEM 1A. RISK FACTORS.

Not required for smaller reporting company.

ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS.

The Corporation has offered up to 1,500,000 Preferred Units to accredited investors under Rule 506 of Regulation D of the Securities Act 1933. Each Unit consists of (i) 1 of the Corporation's Class A Preferred Shares convertible into 1 of the Corporation's Common Shares and (ii) 1 Warrant exercisable into 1 of the Corporation's Common Shares at an exercise price of $1.20 per Share for a period of three (3) years from issuance. The offering will close on the earlier of sale of all 1,500,000 Units, or March 31, 2019, or such extended date or amount as may be approved by the Board from time to time. As of the filing date, the Corporation had accepted subscriptions for a total of 1,312,500 Units for a total of US$1,050,000 (exclusive of debt conversion) and is continuing to offer Units for sale to accredited investors. The Corporation has submitted a Form D filing to the United States Securities and Exchange Commission for this Offering. The Company will use the net proceeds for investment purposes and operating expenses.

ITEM 3. DEFAULTS UPON SENIOR SECURITIES

None

ITEM 4. MINE SAFETY DISCLOSURES

None

ITEM 5. OTHER INFORMATION

None

ITEM 6. EXHIBITS

Index to Exhibits on page 13

INDEX TO EXHIBITS

EXHIBIT NUMBER		DESCRIPTION
3(i)(a)		Articles of Incorporation of Kyto Technology and Life Science, Inc.*

3(i)(b)		Articles of Amendment changing name to Kyto Technology and Life Science, Inc.*

3(i)(c)		Certificate of Amendment to Articles of Incorporation filed April 25, 2018****

3(ii)		Bylaws of Kyto Technology and Life Science, Inc.*

10.1		Research collaboration agreement between The Research Foundation of State University of New York and B. Twelve Ltd. (Kyto Technology and Life Science, Inc.) [dated August 19, 1999]**

10.2		Collaborative Research Agreement to synthesize new vitamin B12 analogs signed between the Company and New York University [dated November 11, 1999]**

10.3		Extension/Modification Research Collaboration Agreement between the Research Foundation of State University of New York and B Twelve, Inc., (Kyto Technology and Life Science, Inc.) Modification No. 1 [dated November 01, 2000]**

10.4		Debt Settlement Agreement and Put Option (dated November 2002) between Kyto Technology and Life Science, Inc. and New York University**

10.5		Extension/Modification Research Collaboration Agreement between the Research Foundation of State University of New York and Kyto Technology and Life Science, Inc., Modification No. 2 [dated December 2004] **

10.6		Services Agreement between Kyto Technology and Life Science, Inc. and Gerard Serfati [dated November 1, 2004]***

10.7		Subscription Agreement for Private Placement April 2018****

31.1		Section 302 Certification of principal executive officer*****

31.2		Section 302 Certification of principal financial and accounting officer*****

32.1		Certification pursuant to 18 U.S.C. Section 1350 as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002*****

———————

*	Filed as Exhibit to Company’s Form 10-SB on September 12, 2003, with the Securities and Exchange Commission
**	Filed as Exhibit to Company’s Form 10-KSB/A on September 20, 2005, with the Securities and Exchange Commission
***	Filed as Exhibit to Company’s Form S-8 on November 18, 2004, with the Securities and Exchange Commission
****	Filed as Exhibit to Company’s Form 10-Q on August 20, 2018, with the Securities and Exchange Commission
*****	Filed with this Form 10-Q

SIGNATURES

In accordance with the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

	Kyto Technology and Life Science, Inc.


	By:	/s/ Paul Russo
		Paul Russo Chief Executive Officer, principal executive officer, principal financial and accounting officer

Date: October 30, 2018

EX-31.1 2 f10q093018_ex31z1.htm EXHIBIT 31.1 SECTION 302 CERTIFICATION Exhibit 31.1 Section 302 Certification

EXHIBIT 31.1

Rule 13a-14(a)/15d-14(a) Certification

I, Paul Russo, certify that:

1.	I have reviewed this report on Form 10-Q for the period ended September 30, 2018 of Kyto Technology and Life Science Inc.;

2.	Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3.	Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

	(a)	Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

	(b)	Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

	(c)	Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

	(d)	Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5.	The registrant's other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

	(a)	All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and
	(b)	Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

October 30, 2018

		/s/ Paul Russo
		Paul Russo
		Chief Executive Officer, principal executive officer

EX-31.2 3 f10q093018_ex31z2.htm EXHIBIT 31.2 SECTION 302 CERTIFICATION Exhibit 31.2 Section 302 Certification

EXHIBIT 31.2

Rule 13a-14(a)/15d-14(a) Certification

I, Simon Westbrook, certify that:

1.	I have reviewed this report on Form 10-Q for the period ended September 30, 2018 of Kyto Technology and Life Science, Inc.;

2.	Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3.	Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

	(a)	Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

	(b)	Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

	(c)	Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

	(d)	Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5.	The registrant's other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

	(a)	All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and
	(b)	Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date October 30 , 2018

		/s/ Simon Westbrook
		Simon Westbrook
		Chief Financial Officer
		principal financial and accounting officer

EX-32.1 4 f10q093018_ex32z1.htm EXHIBIT 32.1 SECTION 906 CERTIFICATION Exhibit 32.1 Section 906 Certification

EXHIBIT 32.1

Section 1350 Certification

In connection with the Quarterly Report of Kyto Technology and Life Science Inc. (the “Company”) on Form 10-Q for the period ended September 30, 2018 as filed with the Securities and Exchange Commission (the “Report”), I, Paul Russo, Chief Executive Officer of the Company, certify, pursuant to 18 U.S.C. SS. 1350, as adopted pursuant to SS. 906 of the Sarbanes-Oxley Act of 2002, that:

1.	The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended, and

2.	The information contained in the Report fairly presents, in all material respects, the financial conditions and results of operations of the Company.

Date: October 30, 2018 /s/ Paul Russo

Paul Russo

Chief Executive Officer, principal executive officer

Section 1350 Certification

In connection with the Quarterly Report of Kyto Technology and Life Science Inc. (the “Company”) on Form 10-Q for the period ended September 30, 2018 as filed with the Securities and Exchange Commission (the “Report”), I, Simon Westbrook, Chief financial and accounting officer, of the Company, certify, pursuant to 18 U.S.C. SS. 1350, as adopted pursuant to SS. 906 of the Sarbanes-Oxley Act of 2002, that:

1.	The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended, and

2.	The information contained in the Report fairly presents, in all material respects, the financial conditions and results of operations of the Company.

Date: October 30, 2018/s/ Simon Westbrook

Simon Westbrook

Chief Financial Officer, principal financial and accounting officer

EX-101.CAL 5 kbph-20180930_cal.xml XBRL TAXONOMY EXTENSION CALCULATION LINKBASE DOCUMENT EX-101.DEF 6 kbph-20180930_def.xml XBRL TAXONOMY EXTENSION DEFINITION LINKBASE DOCUMENT EX-101.INS 7 kbph-20180930.xml XBRL INSTANCE DOCUMENT Kyto Technology & Life Science, Inc. 0001164888 --03-31 KBPH Non-accelerated Filer Yes true false false 2019 Q2 10-Q 2018-09-30 000-50390 651086538 13050 Paloma Road Los Altos Hills CA 94022 408 313 583 5027703 1.00

NOTE 1 DESCRIPTION OF BUSINESS   Kyto Technology and Life Science, Inc. was formed as a Florida corporation on March 5, 1999 under the name of B12 Inc. In August, 2002, the Company changed its name from B Twelve, Inc. to Kyto BioPharma Inc. and in May 2018, the name was changed again to Kyto Technology and Life Science, Inc.   The Company was originally formed to acquire and develop innovative minimally toxic and non-immunosuppressive proprietary drugs for the treatment of cancer, arthritis, and other proliferate and autoimmune diseases and had been looking at a number of strategies to become active.  In April, 2018, the Board adopted a new business plan focused on the development of early stage technology and life science businesses through early stage investment funding. The Company has recruited a number of experienced investment consultants from a network that includes angel investors, corporate managers, and successful entrepreneurs across a number of technology and life science products and markets and relies on input from these advisors in conducting due diligence and making investment decisions. In order to offset the risk in early stage investing, the Company works with angel investment groups and participates only after these groups have committed to invest and does not plan to invest more than $200,000 in any single investment. The Company plans to generate revenue from two sources: (i) the sale of advisory services to its target investments and (ii) realised gains from the sale of the businesses in which it has invested. Generally, it is expected that investments will be realised from an exit within a period of four years.

Florida 1999-03-05 B Twelve, Inc. Kyto BioPharma Inc.

<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-top:0in;margin-right:.65pt;margin-bottom:0in;margin-left:-.25pt;margin-bottom:.0001pt;text-align:justify;line-height:normal'>FAIR VALUE OF FINANCIAL INSTRUMENTS   The Company adopted Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC) 820, Fair Value Measurements and Disclosures, for assets and liabilities measured at fair value on a recurring basis. ASC 820 establishes a common definition for fair value to be applied to existing US GAAP that require the use of fair value measurements which establishes a framework for measuring fair value and expands disclosure about such fair value measurements.   ASC 820 defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Additionally, ASC 820 requires the use of valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs. These inputs are prioritized below:   Level 1: Observable inputs such as quoted market prices in active markets for identical assets or liabilities   Level 2: Observable market-based inputs or unobservable inputs that are corroborated by market data   Level 3: Unobserva

200000

NOTE 4 ACCOUNTING STANDARDS UPDATES   Significant Recent Accounting Pronouncements Management does not believe that any recently issued, but not yet effective, accounting standards if currently adopted would have a material effect on the accompanying unaudited condensed financial statements.

NOTE 5 RELATED PARTY TRANSACTIONS   At March 31, 2018 a balance of $311,430 was payable to a director, chairman and major shareholder of the Company in respect of expenses and fees incurred by him on behalf of the Company.  At June 30, 2018, a total of $314,901 of the related party loans and accrued liabilities were converted into 400,000 investment units (Units) consisting of 400,000 shares of Series A preferred stock, and 400,000 Warrants to purchase common stock at $1.20 per share. The units were valued at $0.80 per unit. (See Note 6.)  The Company recorded a loss on conversion of related party debt of $0 and $5,099 respectively, during the three and six months ended September 30, 2018.   At September 30, 2018, $6,550 was due and payable to related parties. Of this amount $5,050 was due to the Company Chief Financial Officer for services provided and advances made by him to the Company, and $1,500 was due to the Chief Executive Officer as reimbursement for expenses incurred in the normal course of business.   The Company now operates virtually, and from public locations, and no longer leases any office space from related parties.

NOTE 7 SUBSEQUENT EVENTS   <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-top:0in;margin-right:.65pt;margin-bottom:0in;margin-left:-.25pt;margin-bottom:.0001pt;line-height:normal'> Subsequent to the September 30, 2018, the Company has raised a total of $300,000, for the sale of another 375,000 investment units.

raised a total of $300,000

Document and Entity Information - $ / shares		6 Months Ended
Document and Entity Information - $ / shares	Oct. 30, 2018	Sep. 30, 2018
Details
Registrant Name		Kyto Technology & Life Science, Inc.
Registrant CIK		0001164888
SEC Form		10-Q
Period End date		Sep. 30, 2018
Fiscal Year End		--03-31
Trading Symbol		KBPH
Tax Identification Number (TIN)		651086538
Number of common stock shares outstanding	5,027,703
Filer Category		Non-accelerated Filer
Current with reporting		Yes
Small Business		true
Emerging Growth Company		false
Amendment Flag		false
Document Fiscal Year Focus		2019
Document Fiscal Period Focus		Q2
Entity Incorporation, State Country Name		Florida
Entity File Number		000-50390
Entity Address, Address Line One		13050 Paloma Road
Entity Address, City or Town		Los Altos Hills
Entity Address, State or Province		CA
Entity Address, Postal Zip Code		94022
City Area Code		408
Local Phone Number		313 583
Entity Listing, Par Value Per Share	$ 1.00

XML 12 R2.htm IDEA: XBRL DOCUMENT

Consolidated Balance Sheets (September 30, 2018 Unaudited) - USD ($)	Sep. 30, 2018	Mar. 31, 2018
Current Assets
Cash	$ 119,356	$ 4
Prepaid & other current assets	0	7,500
Total Current Assets	119,356	7,504
Investments	587,000	0
Total Assets	706,356	7,504
Current Liabilities
Accounts payable & accrued liabilities	29,749	13,030
Accrued liabilities & loans - related party	6,550	311,430
Total Current Liabilities	36,299	324,460
Commitments and Contingencies	0	0
Stockholders' Equity (Deficit)
Common Stock, Value, Issued	503	314
Additional paid-in capital	31,811,023	32,063,476
Accumulated deficit	(32,478,969)	(32,380,746)
Total Stockholders' Equity (Deficit)	670,057	(316,956)
Total Liabilities and Stockholders' Equity (Deficit)	706,356	7,504
Series A Preferred Stock
Stockholders' Equity (Deficit)
Preferred Stock, Value, Issued	1,337,500	0
Series B Preferred Stock
Stockholders' Equity (Deficit)
Preferred Stock, Value, Issued	$ 0	$ 0

XML 13 R3.htm IDEA: XBRL DOCUMENT

Consolidated Balance Sheets (September 30, 2018 Unaudited) - Parenthetical - $ / shares	Sep. 30, 2018	Mar. 31, 2018
Common Stock, Par or Stated Value Per Share	$ 0.0001	$ 0.0001
Common Stock, Shares Authorized	100,000,000	100,000,000
Common Stock, Shares, Issued	5,027,703	3,139,747
Common Stock, Shares, Outstanding	5,027,703	3,139,747
Series A Preferred Stock
Preferred Stock, Par or Stated Value Per Share	$ 1.00	$ 1.00
Preferred Stock, Shares Authorized	2,000,000	2,000,000
Preferred Stock, Shares Issued	1,337,500	0
Preferred Stock, Shares Outstanding	1,337,500	0
Series B Preferred Stock
Preferred Stock, Par or Stated Value Per Share	$ 0.80	$ 0.80
Preferred Stock, Shares Authorized	1,500,000	1,500,000
Preferred Stock, Shares Issued	0	0
Preferred Stock, Shares Outstanding	0	0

XML 14 R4.htm IDEA: XBRL DOCUMENT

Condensed Statements of Operations (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Operating Expenses
General and administrative	$ 62,357	$ 20,783	$ 98,198	$ 39,730
Total Operating Expenses	62,357	20,783	98,198	39,730
Loss from Operations	(62,357)	(20,783)	(98,198)	(39,730)
Interest expense, net	(25)	0	(25)	0
Net Loss before taxes	(62,382)	(20,783)	(98,223)	(39,730)
Net income (tax) benefit	0	0	0	0
Net Loss	$ (62,382)	$ (20,783)	$ (98,223)	$ (39,730)
Weighted Average Number of Shares Outstanding, Basic and Diluted	5,027,703	3,139,747	4,488,287	3,139,747
Net loss per share - basic and diluted	$ (0.01)	$ (0.01)	$ (0.02)	$ (0.01)

XML 15 R5.htm IDEA: XBRL DOCUMENT

Condensed Statements of Shareholders' Equity and Accumulated Deficit - 6 months ended Sep. 30, 2018 - USD ($)	Preferred Stock	Common Stock	Additional Paid-in Capital	Retained Earnings	Total
Equity Balance, Starting at Mar. 31, 2018	$ 0	$ 314	$ 32,063,476	$ (32,380,746)	$ (316,956)
Shares Outstanding, Starting at Mar. 31, 2018	0	3,139,747
Net Income (Loss)	$ 0	$ 0	0	(98,223)	(98,223)
Stock Issued During Period, Value, New Issues	$ 937,500	$ 0	(187,500)	0	750,000
Stock Issued During Period, Shares, New Issues	937,500	0
Stock Issued During Period, Value, Conversion of Convertible Securities, Net of Adjustments	$ 400,000	$ 0	(80,000)	0	320,000
Stock Issued During Period, Shares, Conversion of Convertible Securities	400,000	0
Stock Issued During Period, Value, Stock Options Exercised	$ 0	$ 189	11,139	0	11,328
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period	0	1,887,956
Compensation expense on stock options	$ 0	$ 0	3,908	0	3,908
Shares Outstanding, Ending at Sep. 30, 2018	1,337,500	5,027,703
Equity Balance, Ending at Sep. 30, 2018	$ 1,337,500	$ 503	$ 31,811,023	$ (32,478,969)	$ 670,057

XML 16 R6.htm IDEA: XBRL DOCUMENT

Condensed Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
CASH FLOW FROM OPERATING ACTIVITIES
Net loss	$ (98,223)	$ (39,730)
Adjustments to reconcile net loss to net cash used in operating activities
Loss on conversion of related party debt	5,099	0
Option compensation expense	3,908	0
Increase / (decrease) in operating assets and liabilities
Other current assets	7,500
Accounts payable and accrued liabilities	16,719	28,309
Total cash (used in) operating activities	(64,997)	(11,421)
CASH FLOW FROM INVESTING ACTIVITIES
Purchase of equity investments	(587,000)	0
Total cash used in investing activities	(587,000)	0
CASH FLOW FROM FINANCING ACTIVITIES
Proceeds from sales of preferred stock	750,000	0
Proceeds from exercise of options for common stock	11,328	0
Advances from related party	10,021	11,460
Total cash provided by financing activities	771,349	11,460
Net increase in cash	119,352	39
Cash, Beginning Balance	4	0
Cash, Ending Balance	119,356	39
Supplemental Cash Flow Information:
Interest Paid	25	0
Taxes Paid	0	0
Non Cash Financing and Investing Activities
Preferred shares issued for conversion of related party debt	$ 320,000	$ 0

XML 17 R7.htm IDEA: XBRL DOCUMENT

NOTE 1 - DESCRIPTION OF BUSINESS

6 Months Ended

Sep. 30, 2018

Notes

NOTE 1 - DESCRIPTION OF BUSINESS

NOTE 1 – DESCRIPTION OF BUSINESS

which it has invested. Generally, it is expected that investments will be realised from an exit within a period of four years.

XML 18 R8.htm IDEA: XBRL DOCUMENT

NOTE 2 - BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES

6 Months Ended

Sep. 30, 2018

Notes

NOTE 2 - BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES

NOTE 2 – BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES

The accompanying unaudited condensed financial statements of Kyto Technology and Life Science, Inc. (the "Company") have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (the "SEC”). Certain information and footnote disclosures, normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted pursuant to such SEC rules and regulations. Nevertheless, the Company believes that the disclosures are adequate to make the information presented not misleading. These interim unaudited condensed financial statements should be read in conjunction with the audited financial statements and notes thereto included in the Company's March 31, 2018 Annual Report as filed on Form 10K. In the opinion of management, all adjustments, including normal recurring adjustments necessary to present fairly the financial position of the Company with respect to the interim unaudited condensed financial statements and the results of its operations for the interim period ended September 30, 2018, have been included. The results of operations for interim periods are not necessarily indicative of the results for a full year. Although the Company has $119,356 in the bank at September 30, 2018 and has raised another $300,000 since September 30, management recognizes that it currently has no revenue and that revenue generation could be a slow and uncertain process depending on the success and liquidity of the businesses in which it invests. All cash received to date has originated from private placements of equity securities to accredited investors and there is no assurance that the Company will be able to continue to raise such funding to cover new investments and net operating expenses. Accordingly, there is no assurance that the Company will be able to meet its cash obligations when they come due and payable, which raises doubt over the Company’s ability to continue as a going concern from one year from the issuance of these financial statements.

USE OF ESTIMATES

Significant estimates during 2018 include the valuation allowance of stock options and warrants.

CASH AND CASH EQUIVALENTS

CONCENTRATIONS

NET LOSS PER COMMON SHARE

STOCK-BASED COMPENSATION

INCOME TAXES

INVESTMENTS

FAIR VALUE OF FINANCIAL INSTRUMENTS

Level 1: Observable inputs such as quoted market prices in active markets for identical assets or liabilities

Level 2: Observable market-based inputs or unobservable inputs that are corroborated by market data

Level 3: Unobserva

ble inputs for which there is little or no market data, which require the use of the reporting entity’s own assumptions.

XML 19 R9.htm IDEA: XBRL DOCUMENT

NOTE 3 - INVESTMENT

6 Months Ended

Sep. 30, 2018

Notes

NOTE 3 - INVESTMENT

NOTE 3 – INVESTMENT

XML 20 R10.htm IDEA: XBRL DOCUMENT

NOTE 4 - ACCOUNTING STANDARDS UPDATES

6 Months Ended

Sep. 30, 2018

Notes

NOTE 4 - ACCOUNTING STANDARDS UPDATES

NOTE 4 – ACCOUNTING STANDARDS UPDATES

Significant Recent Accounting Pronouncements

XML 21 R11.htm IDEA: XBRL DOCUMENT

NOTE 5 -RELATED PARTY TRANSACTIONS

6 Months Ended

Sep. 30, 2018

Notes

NOTE 5 -RELATED PARTY TRANSACTIONS

NOTE 5 – RELATED PARTY TRANSACTIONS

The Company now operates virtually, and from public locations, and no longer leases any office space from related parties.

XML 22 R12.htm IDEA: XBRL DOCUMENT

NOTE 6- EQUITY

6 Months Ended

Sep. 30, 2018

Notes

NOTE 6- EQUITY

NOTE 6 – EQUITY

(A) PREFERRED STOCK

(B) COMMON STOCK

(D) STOCK OPTIONS

	Number of options	Weighted average exercise price	Weighted average remaining life years
Outstanding March 31, 2018	-	-	-
Granted	2,697,085	$ 0.006	1.00
Exercised	(1,887,956)	$ 0.006	-
Cancelled	-	-	-
Outstanding September30, 2018	809,129	$ 0.006	0.50

Exercisable September 30, 2018	516,945	$ -	0.50


Stock Price at grant date	$ 0.006
Exercise Price	$ 0.006
Term in Years	1.00
Volatility assumed	73%
Annual dividend rate	0.0%
Risk free discount rate	1.79%

No options were granted in prior periods.

(E) WARRANTS

	Number of warrants	Weighted average exercise price	Weighted average remaining life years
Outstanding March 31, 2018	-	-	-
Granted	1,337,500	$ 1.20	3.00
Exercised	-	-	-
Cancelled	-	-	-
Outstanding September 30, 2018	1,337,500	$ 1.20	2.90

Exercisable September 30, 2018	1,337,500	$ 1.20	2.90


Stock Price at Valuation date	$ 0.030
Exercise Price	$ 1.20
Term in Years	3.00
Volatility assumed	73.0%
Annual dividend rate	0.0%
Risk free discount rate	1.79%

XML 23 R13.htm IDEA: XBRL DOCUMENT

NOTE 7 - SUBSEQUENT EVENTS

6 Months Ended

Sep. 30, 2018

Notes

NOTE 7 - SUBSEQUENT EVENTS

NOTE 7 – SUBSEQUENT EVENTS

Subsequent to the September 30, 2018, the Company has raised a total of $300,000, for the sale of another 375,000 investment units.

XML 24 R14.htm IDEA: XBRL DOCUMENT

NOTE 2 - BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES: USE OF ESTIMATES (Policies)

6 Months Ended

Sep. 30, 2018

Policies

USE OF ESTIMATES

Significant estimates during 2018 include the valuation allowance of stock options and warrants.

XML 25 R15.htm IDEA: XBRL DOCUMENT

NOTE 2 - BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES: CASH AND CASH EQUIVALENTS (Policies)

6 Months Ended

Sep. 30, 2018

Policies

CASH AND CASH EQUIVALENTS

XML 26 R16.htm IDEA: XBRL DOCUMENT

NOTE 2 - BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES: CONCENTRATIONS (Policies)

6 Months Ended

Sep. 30, 2018

Policies

CONCENTRATIONS

XML 27 R17.htm IDEA: XBRL DOCUMENT

NOTE 2 - BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES: NET LOSS PER COMMON SHARE (Policies)

6 Months Ended

Sep. 30, 2018

Policies

NET LOSS PER COMMON SHARE

XML 28 R18.htm IDEA: XBRL DOCUMENT

NOTE 2 - BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES: STOCK-BASED COMPENSATION (Policies)

6 Months Ended

Sep. 30, 2018

Policies

STOCK-BASED COMPENSATION

XML 29 R19.htm IDEA: XBRL DOCUMENT

NOTE 2 - BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES: INCOME TAXES (Policies)

Policies

Disclosure of accounting policy for income taxes, which may include its accounting policies for recognizing and measuring deferred tax assets and liabilities and related valuation allowances, recognizing investment tax credits, operating loss carryforwards, tax credit carryforwards, and other carryforwards, methodologies for determining its effective income tax rate and the characterization of interest and penalties in the financial statements.

+ References + Details

XML 30 R20.htm IDEA: XBRL DOCUMENT

NOTE 2 - BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES: INVESTMENTS (Policies)

Policies

Disclosure of accounting policy for investments in financial assets, including marketable securities (debt and equity securities with readily determinable fair values), investments accounted for under the equity method and cost method, securities borrowed and loaned, and repurchase and resale agreements. For marketable securities, the disclosure may include the entity's accounting treatment for transfers between investment categories and how the fair values for such securities are determined. Also, for all investments, an entity may describe its policy for assessing, recognizing and measuring impairment of the investment.

+ References + Details

XML 31 R21.htm IDEA: XBRL DOCUMENT

NOTE 2 - BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES: FAIR VALUE OF FINANCIAL INSTRUMENTS (Policies)

6 Months Ended

Sep. 30, 2018

Policies

FAIR VALUE OF FINANCIAL INSTRUMENTS

Level 1: Observable inputs such as quoted market prices in active markets for identical assets or liabilities

Level 2: Observable market-based inputs or unobservable inputs that are corroborated by market data

Level 3: Unobserva

XML 32 R22.htm IDEA: XBRL DOCUMENT

NOTE 6- EQUITY: Schedule of Stock Options (Tables)

6 Months Ended

Sep. 30, 2018

Tables/Schedules

Schedule of Stock Options

	Number of options	Weighted average exercise price	Weighted average remaining life years
Outstanding March 31, 2018	-	-	-
Granted	2,697,085	$ 0.006	1.00
Exercised	(1,887,956)	$ 0.006	-
Cancelled	-	-	-
Outstanding September30, 2018	809,129	$ 0.006	0.50

Exercisable September 30, 2018	516,945	$ -	0.50

XML 33 R23.htm IDEA: XBRL DOCUMENT

NOTE 6- EQUITY: Schedule of Fair Value Asumptions, Options (Tables)

6 Months Ended

Sep. 30, 2018

Tables/Schedules

Schedule of Fair Value Asumptions, Options


Stock Price at grant date	$ 0.006
Exercise Price	$ 0.006
Term in Years	1.00
Volatility assumed	73%
Annual dividend rate	0.0%
Risk free discount rate	1.79%

- Definition

The entire disclosure for a company's election to apply the fair value option for measurement and reporting of eligible financial assets and liabilities (as defined), as well as certain other eligible items (as defined) included in the statement of financial position, whether such option is elected for a single eligible item or a group of similar eligible items and is in addition to other disclosures concerning fair value which the company may be required to provide. Such disclosure might be expected to include: (1) for items included in the statement of financial position: (a) the reasons for electing a fair value option for each eligible item or group of similar eligible items; (b) if the fair value option is elected for some but not all eligible items within a group of similar eligible items: (i) a description of those similar items and the reasons for partial election and (ii) information of how the group of similar items relates to individual balance sheet line items; (c) for each line item in the statement of financial position that includes an item or items for which the fair value option has been elected: (i) information of how each line item in the statement of financial position relates to major categories of assets and liabilities presented in accordance with other fair value disclosures and (ii) the aggregate carrying amount of ineligible items included in each line item in the balance sheet, if any; (d) the difference between the aggregate fair value and the aggregate unpaid principal balance (assuming contractual principal amounts and fair value option elected) of: (i) loans and long-term receivables (other than securities otherwise reported at fair value) and (ii) long-term debt instruments; (e) for loans held as assets for which the fair value option has been elected: (i) the aggregate fair value of loans that are 90 days or more past due, (ii) if the policy is to recognize interest income separately from other changes in fair value, the aggregate fair value of loans in nonaccrual status, and (iii) the difference between the aggregate fair value and the aggregate unpaid principal balance for loans that are 90 days or more past due, in nonaccrual status, or both; (f) for investments that would have been accounted for under the equity method if the entity had not chosen to apply the fair value option, the information required for such investments, if material either individually or in the aggregate; (2) for items included in the income statement: (a) the amounts of gains and losses from fair value changes included in earnings and in which line in the income statement those gains and losses are reported whether or not combined with gains and losses from items required to be accounted for at fair value; (b) a description of how interest and dividends are measured and where they are reported in the income statement; (c) for loans and other receivables held as assets: (i) the estimated amount of gains or losses included in earnings attributable to changes in instrument-specific credit risk and (ii) how the gains or losses attributable to changes in instrument-specific credit risk were determined; (d) for liabilities with fair values that have been significantly affected during the reporting period by changes in the instrument-specific credit risk: (i) the estimated amount of gains and losses from fair value changes included in earnings that are attributable to changes in the instrument-specific credit risk, (ii) qualitative information about the reasons for those changes, and (iii) how the gains and losses attributable to changes in instrument-specific credit risk were determined; and (3) certain other disclosures as required or determined to be provided.

+ References + Details

XML 34 R24.htm IDEA: XBRL DOCUMENT

NOTE 6- EQUITY: Schedule of Warrants (Tables)

	Number of warrants	Weighted average exercise price	Weighted average remaining life years
Outstanding March 31, 2018	-	-	-
Granted	1,337,500	$ 1.20	3.00
Exercised	-	-	-
Cancelled	-	-	-
Outstanding September 30, 2018	1,337,500	$ 1.20	2.90

Exercisable September 30, 2018	1,337,500	$ 1.20	2.90

XML 35 R25.htm IDEA: XBRL DOCUMENT

NOTE 6- EQUITY: Schedule of Fair Value Assumptions, Warrants (Tables)

6 Months Ended

Sep. 30, 2018

Tables/Schedules

Schedule of Fair Value Assumptions, Warrants


Stock Price at Valuation date	$ 0.030
Exercise Price	$ 1.20
Term in Years	3.00
Volatility assumed	73.0%
Annual dividend rate	0.0%
Risk free discount rate	1.79%

XML 36 R26.htm IDEA: XBRL DOCUMENT

NOTE 1 - DESCRIPTION OF BUSINESS (Details)	6 Months Ended
NOTE 1 - DESCRIPTION OF BUSINESS (Details)	Sep. 30, 2018
Entity Incorporation, State Country Name	Florida
Entity Incorporation, Date of Incorporation	Mar. 05, 1999
Entity Information, Former Legal or Registered Name	Kyto BioPharma Inc.
Previous Name
Entity Information, Former Legal or Registered Name	B Twelve, Inc.

XML 37 R27.htm IDEA: XBRL DOCUMENT

NOTE 2 - BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES: CASH AND CASH EQUIVALENTS (Details) - USD ($)	Sep. 30, 2018	Mar. 31, 2018
Details
Cash and Cash Equivalents, at Carrying Value	$ 0
Cash Equivalents, at Carrying Value		$ 0

XML 38 R28.htm IDEA: XBRL DOCUMENT

NOTE 3 - INVESTMENT (Details)	3 Months Ended
NOTE 3 - INVESTMENT (Details)	Sep. 30, 2018 USD ($)
Details
Aggregate investment in early stage companies	$ 200,000

XML 39 R29.htm IDEA: XBRL DOCUMENT

NOTE 5 -RELATED PARTY TRANSACTIONS (Details) - USD ($)	3 Months Ended	6 Months Ended
NOTE 5 -RELATED PARTY TRANSACTIONS (Details) - USD ($)	Sep. 30, 2018	Sep. 30, 2018	Sep. 30, 2017	Mar. 31, 2018
Details
Accrued liabilities & loans - related party	$ 6,550	$ 6,550		$ 311,430
Gain (Loss) on Extinguishment of Debt	$ 0	$ (5,099)	$ 0

XML 40 R30.htm IDEA: XBRL DOCUMENT

NOTE 6- EQUITY (Details) - USD ($)	3 Months Ended	6 Months Ended
NOTE 6- EQUITY (Details) - USD ($)	Sep. 30, 2018	Sep. 30, 2018	Mar. 31, 2018
Common Stock, Shares Authorized	100,000,000	100,000,000	100,000,000
Common Stock, Par or Stated Value Per Share	$ 0.0001	$ 0.0001	$ 0.0001
Common Stock, Shares, Issued	5,027,703	5,027,703	3,139,747
Common Stock, Shares, Outstanding	5,027,703	5,027,703	3,139,747
Option expense amortized	$ 357	$ 3,908
Warrants issued	0	0	0
Warrants outstanding	0	0	0
Series A Preferred Stock
Preferred Stock, Shares Authorized	2,000,000	2,000,000	2,000,000
Preferred Stock, Par or Stated Value Per Share	$ 1.00	$ 1.00	$ 1.00
Preferred Stock, Shares Issued	1,337,500	1,337,500	0
Preferred Stock, Shares Outstanding	1,337,500	1,337,500	0
Series B Preferred Stock
Preferred Stock, Shares Authorized	1,500,000	1,500,000	1,500,000
Preferred Stock, Par or Stated Value Per Share	$ 0.80	$ 0.80	$ 0.80
Preferred Stock, Shares Issued	0	0	0
Preferred Stock, Shares Outstanding	0	0	0

XML 41 R31.htm IDEA: XBRL DOCUMENT

NOTE 6- EQUITY: Schedule of Stock Options (Details) - Stock Options - $ / shares			6 Months Ended
	Sep. 30, 2018	Mar. 31, 2018	Sep. 30, 2018
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Beginning Balance			0
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price, Beginning Balance			$ 0
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term	6 months	0 years
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross			2,697,085
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price			$ 0.006
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period			(1,887,956)
Share-based Compensation Arrangements by Share-based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price			$ 0.006
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures in Period			0
Share-based Compensation Arrangements by Share-based Payment Award, Options, Forfeitures in Period, Weighted Average Exercise Price			$ 0
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Ending Balance	809,129	0	809,129
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price, Ending Balance	$ 0.006	$ 0	$ 0.006
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number	516,945		516,945
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Exercise Price	$ 0		$ 0
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term	6 months

XML 42 R32.htm IDEA: XBRL DOCUMENT

NOTE 6- EQUITY: Schedule of Fair Value Asumptions, Options (Details) - Stock Options	6 Months Ended
	Sep. 30, 2018 $ / shares
Stock Price at grant date	$ 0.006
Exercise Price	$ 0.006
Term in Years	1 year
Volatility assumed	73.00%
Annual dividend rate	0.00%
Risk free discount rate	1.79%

XML 43 R33.htm IDEA: XBRL DOCUMENT

NOTE 6- EQUITY: Schedule of Warrants (Details) - Warrants - $ / shares			6 Months Ended
	Sep. 30, 2018	Mar. 31, 2018	Sep. 30, 2018
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Beginning Balance			0
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price, Beginning Balance			$ 0
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term	2 years 10 months 24 days	0 years
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross			1,337,500
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price			$ 1.20
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period			0
Share-based Compensation Arrangements by Share-based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price			$ 0
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures in Period			0
Share-based Compensation Arrangements by Share-based Payment Award, Options, Forfeitures in Period, Weighted Average Exercise Price			$ 0
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Ending Balance	1,337,500	0	1,337,500
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price, Ending Balance	$ 1.20	$ 0	$ 1.20
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number	1,337,500		1,337,500
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Exercise Price	$ 1.20		$ 1.20
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term	2 years 10 months 24 days

XML 44 R34.htm IDEA: XBRL DOCUMENT

NOTE 6- EQUITY: Schedule of Fair Value Assumptions, Warrants (Details) - Warrants	6 Months Ended
	Sep. 30, 2018 $ / shares
Stock Price at Valuation date	$ 0.030
Exercise Price	$ 1.20
Term in Years	3 years
Volatility assumed	73.00%
Annual dividend rate	0.00%
Risk free discount rate	1.79%

XML 45 R35.htm IDEA: XBRL DOCUMENT

NOTE 7 - SUBSEQUENT EVENTS (Details)	6 Months Ended
NOTE 7 - SUBSEQUENT EVENTS (Details)	Sep. 30, 2018
Details
Subsequent Event, Description	raised a total of $300,000

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