10. CONVERTIBLE PROMISSORY NOTE DERIVATIVE LIABILITY

12 Months Ended

Mar. 31, 2023

Notes

10. CONVERTIBLE PROMISSORY NOTE DERIVATIVE LIABILITY

10.  CONVERTIBLE PROMISSORY NOTE DERIVATIVE LIABILITY

The Convertible Promissory Notes (“Notes”) with Power Up Lending Group Ltd., Crown Bridge Partners, LLC Sixth Street Lending LLC and 1800 Diagonal Lending LLC was accounted for under ASC 815.  The variable conversion price is not considered predominantly based on a fixed monetary amount settleable with a variable number of shares due to the volatility and trading volume of the Company’s common stock. The Company’s convertible promissory notes derivative liabilities has been measured at fair value using the Black-Scholes model.

The inputs into the Black-Scholes models are as follows:

	December 31, 2022	March 31, 2022	March 31, 2021
Closing share price	$0.0004	$0.0052	$0.0257
Conversion price	$0.0004	$0.0049 - $0.0051	$0.0233 - $0.0234
Risk free rate	4.76%	1.06% - 1.50%	0.04%
Expected volatility	123%	159% - 195%	136% - 161%
Dividend yield	0%	0%	0%
Expected life (years)	0.42	0.50 – 0.94	0.36 – 0.81

Continuity of the Fair value of the Conversion Option Derivative Liabilities	Year Ended March 31, 2023	Year Ended March 31, 2022
Opening	$163,230	$138,539
Initial value	52,038	283,843
Decrease in fair value	(215,268)	(259,152)
Closing	$0	$163,230