CONVERTIBLE DEBTS DISCLOSURE

6 Months Ended

Sep. 30, 2019

Notes

CONVERTIBLE DEBTS DISCLOSURE

NOTE 6 - CONVERTIBLE DEBTS

		September 30, 2019		March 31, 2019
Principal balance, at beginning of period		$	1,295,455	$	542,614
Accrued interest and fees			100,253		52,864
Converted to additional paid in capital			(165,055)		(834,293)
Converted to common stock			(1,526)		(4,404)
Convertible notes settled in cash	i		(1,006,250)		(519,436)
Convertible notes issued	ii		1,869,700		2,040,600
Unamortized debt discount			(1,441,063)		(971,297)
Balance, at end of period		$	651,514	$	306,648

During the six months ended September 30, 2019, the Company paid off fifteen (Three during the six months to September 30, 2018) loans in cash for a total amount of $1,486,651 ($144,899 for the six months to September 30, 2018) as follows:

For the six months ended September 30,	2019		2018
Principal amount of loan	$	1,006,250	$	104,000
Premium on early settlement		430,015		31,875
Accrued interest		50,386		9,024
	$	1,486,651	$	144,899

During the six months ended September 30, 2019, the Company entered into convertible note agreements with independent lenders totaling to $1,869,700. The following is a summary of the main terms of these agreements:

Six months ended September 30,	2019	2018
Number of new loan notes issued	25	14
Total amount of the loans	$                            1,869,700	$                                    752,550
Interest rates	from 8% to 12%	from 8% to 12%
Period of loans	nine months to one year	nine months to one year
Conversion terms	The conversion price is a variable conversion price which varies from 60 % the market price. Market price is either the average of the lowest two trading prices or the lowest price during 10 to 20 trading days prior to the conversion date.	The conversion price is a variable conversion price which varies from 58% to 61% of the market price. Market price is either the average of the lowest two trading prices or the lowest price during 10 to 20 trading days prior to the conversion date.
Prepayment terms	Prepayment at premium ranging from 110% to 150% of the loan note if prepaid within 60 days and after 120 days but before 180 days respectively. Prepayments are usually not allowed after 180 days	Prepayment at premium ranging from 110% to 135% of the loan note if prepaid within 60 days and after 120 days but before 180 days respectively. Prepayments are usually not allowed after 180 days

One loan with a balance of $29,800 was due on June 6, 2019 but remained unpaid to date. The lender has confirmed that there would not be any penalty for non-payment.