10-Q/A

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

FORM 10-Q/A

Amendment No. 1

[X]

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

For the quarterly period ended June 30, 2015

[  ]

TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE EXCHANGE ACT

For the transition period from __________ to ___________

Commission File Number: 000-54306

RANGEFORD RESOURCES, INC.

(Exact name of registrant as specified in its charter)

Nevada	77-1176182
(State or other jurisdiction of incorporation or organization)	(IRS Employer Identification No.)

556 Silicon Drive, Suite 103, Southlake, TX 76092

(Address of principal executive offices)

817-648-8062

(Registrant's Telephone number)

____________________________________________________

(Former Address and phone of principal executive offices)

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 the filing requirements for the past 90 days. [  ] Yes  [X] 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 for Regulation S-T (§232.405 of this chapter) during the preceding 12 months (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 Exchange Act). [   ] Yes  [X] No

As of September 1, 2015, there were 20,105,193 shares of the registrant’s common stock issued and outstanding.

Explanatory Note

Rangeford Resources, Inc. (the “Company”) is filing this Amendment No. 1 (the “Amendment”) on Form 10-Q to the Company’s quarterly report on Form 10-Q for the period ended June 30, 2015 (the “Form 10-Q”), filed with the Securities and Exchange Commission on September 4, 2015 (the “Original Filing Date”), solely to file Exhibit 101 to the Form 10-Q in accordance with Rule 405 of Regulation S-T. Exhibit 101 consists of the following materials from the Company’s Form 10-Q, formatted in XBRL (eXtensible Business Reporting Language):

101.INS	XBRL Instance Document
101.SCH	XBRL Taxonomy Schema
101.CAL	XBRL Taxonomy Calculation Linkbase
101.DEF	XBRL Taxonomy Definition Linkbase
101.LAB	XBRL Taxonomy Label Linkbase
101.PRE	XBRL Taxonomy Presentation Linkbase

No other changes have been made to the Form 10-Q. This Amendment speaks as of the Original Filing Date, does not reflect events that may have occurred subsequent to the Original Filing Date, and does not modify or update in any way disclosures made in the Form 10-Q.

Item 6.      Exhibits

Exhibit Number	Description
31.1*	Certification of Chief Executive Officer required by Rule 13a-14/15d-14(a) under the Exchange Act.
31.2*	Certification of Chief Financial Officer required by Rule 13a-14/15d-14(a) under the Exchange Act.
32.1*	Certification of Chief Executive Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
32.2*	Certification of Chief Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.

101.INS*	XBRL Instance Document
101.SCH*	RL Taxonomy Extension Schema Document
101.CAL*	XBRL Taxonomy Extension Calculation Linkbase Document
101.DEF*	XBRL Taxonomy Extension Definition Linkbase Document
101.LAB*	XBRL Taxonomy Extension Label Linkbase Document
101.PRE*	XBRL Taxonomy Extension Presentation Linkbase Document

* Filed herewith.

Signatures

Pursuant to 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.

	RANGEFORD RESOURCES, INC.
Dated: September 4, 2015	By:	/s/ Colin Richardson
		Colin Richardson
		Chief Executive Officer, President, Principal Executive Officer and Principal Financial and Accounting Officer

EX-31.1

EXHIBIT 31.1

SECTION 302 CERTIFICATION OF PERIODIC REPORT

I, Colin Richardson, certify that:

1. I have reviewed this amendment to quarterly report on Form 10-Q of Rangeford Resources, 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;

4. As the registrant's sole certifying officer, I am 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)) 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, including its consolidated subsidiaries, 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 4th 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.

5. As the registrant's certifying officer, 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: September 4, 2015

By: /s/ Colin Richardson

Colin Richardson

President & CEO

EX-31.2

EXHIBIT 31.2

SECTION 302 CERTIFICATION OF PERIODIC REPORT

I, Colin Richardson, certify that:

1. I have reviewed this amendment to quarterly report on Form 10-Q of Rangeford Resources, 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;

4. As the registrant's sole certifying officer, I am 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)) 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, including its consolidated subsidiaries, 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 4th 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.

5. As the registrant's certifying officer, 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: September 4, 2015

By: /s/ Colin Richardson

Colin Richardson

Principal Financial Officer

EX-32.1

Exhibit 32.1

CERTIFICATION OF DISCLOSURE PURSUANT TO

18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Amendment No. 1 to Quarterly Report of Rangeford Resources, Inc. (the "Company") on Form 10-Q for the period ending June 30, 2015 as filed with the Securities and Exchange Commission on the date hereof (the "Report") I, Colin Richardson, President and CEO of the Company, certify, pursuant to 18 USC section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that to the best of my knowledge and belief:

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

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

Dated: September 4, 2015

By: /s/ Colin Richardson

Colin Richardson

President & CEO

This certification accompanies the Report pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 and shall not, except to the extent required by the Sarbanes-Oxley Act of 2002, be deemed filed by the Company for purposes of Section 18 of the Securities Exchange Act of 1934, as amended.

EX-32.2

Exhibit 32.2

CERTIFICATION OF DISCLOSURE PURSUANT TO

18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Amendment No. 1 to Quarterly Report of Rangeford Resources, Inc. (the "Company") on Form 10-Q for the period ending June 30, 2015 as filed with the Securities and Exchange Commission on the date hereof (the "Report") I, Colin Richardson, Principal Financial Officer of the Company, certify, pursuant to 18 USC section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that to the best of my knowledge and belief:

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

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

Dated: September 4, 2015

By: /s/ Colin Richardson

Colin Richardson

Principal Financial Officer

This certification accompanies the Report pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 and shall not, except to the extent required by the Sarbanes-Oxley Act of 2002, be deemed filed by the Company for purposes of Section 18 of the Securities Exchange Act of 1934, as amended.

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Note 4 - Agreement to Purchase Oil and Gas Properties

3 Months Ended

Jun. 30, 2015

Notes to Financial Statements

Oil and Gas Properties [Text Block]

NOTE 4 – AGREEMENT TO PURCHASE OIL AND GAS PROPERTIES

Great Northern Energy, Inc.

On November 15, 2012, the Company entered into a Purchase and Sale Agreement (the “GNE Agreement”) with Great Northern Energy, Inc. (“GNE”), which was later modified through an addendum dated January 25, 2013, to acquire a substantial non-operating working interest in oil assets in East Texas in consideration for a purchase price that includes (a) a cash payment of $3,900,000 in the form of (i) a deposit of $100,000; (ii) a promissory note in the amount of $1,100,000; and (iii) a promissory note in the amount of $2,700,000 and (b) 7,400,000 shares of its restricted common stock.

As of September 30, 2013, the Company had transferred a total of $700,000 and issued 7,400,000 shares of common stock to GNE towards the purchase of the oil and gas properties, but the GNE Agreement has not been consummated. The $700,000 payment was initially recorded as a long-term deposit on the balance sheet and, subsequently, has been charged to impairment of deposit on the income statement for the year ended March 31, 2014.

GNE has returned the stock certificate for 7,400,000 shares; however, GNE did not submit an executed stock power which is required to cancel the GNE shares. The 7,400,000 shares are considered issued and outstanding at December 31, 2013. The deposit of $36,557 recorded on the balance sheet as of December 31, 2013, which is related to the issuance of the 7,400,000 shares of common stock, was charged to impairment of deposit on the income statement for the year ended March 31, 2015.

On May 20, 2014, we sent a letter to GNE informing them of this determination and seeking to mutually terminate the Agreement. Given the amount of time that has passed since we first entered into negotiations with GNE and the lack of any tangible results as contemplated in the GNE Agreement, in addition to GNE'S failure to uphold certain of its obligations under the GNE Agreement, we determined it would be in our best interest to terminate the GNE Agreement. In that letter, we requested that GNE comply with the termination provisions of the GNE Agreement and provide the stock power necessary to cancel the shares and return the $700,000 advanced to them under the terms of the GNE Agreement. Accordingly, once GNE returns the $700,000 and submits the outstanding stock power, we shall immediately consent to and permit the mutual termination of the GNE Agreement.

Black Gold Kansas Production, LLC

Kansas – George Prospect

On June 1, 2015, the Company executed a Purchase and Sale Agreement (the "George PSA") with Black Gold Kansas Production, LLC, a Texas limited liability company (“BGKP”). Pursuant to the George PSA, the Company shall receive a 30% working interest and a 26.25 % net revenue interest in and to the George Prospect and the 4 drilled and completed wells and any by-products produced thereon, machinery, equipment and the books and records related to same which is located in Kansas. Under this George PSA and the contemplated transaction, the Company will also acquire a 75% interest in and to approximately 3,000 acres of land within Bourbon and Allen Counties that contains approximately 42 proved undeveloped (PUD) locations for drilling. Pursuant to the George PSA, the parties also entered into a Joint Exploration Agreement. On July 23, 2015, the parties also entered into an amendment and extension to the George PSA until October 1, 2015. On August 17, 2015, the George PSA was further amended to provide for payment of the purchase price in monthly installments as follows:

● $150,00 due at closing;

● $100,000 due 31 days after closing;

● $100,000 due 61 days after closing; and

● $417,000 due 91 days after closing.

The total consideration for the purchase, sale and conveyance of the Assets to the Company and the Company’s assumption of the undivided share of liabilities provided for in the George PSA, is the Company’s payment to BGKP of the sum of $767,000 (the “George Purchase Price”), as adjusted in accordance with the provisions of the George PSA. Although required by the terms of the George PSA, the Company has not yet placed $10,000 in an escrow account (the "George Earnest Money"), which upon closing, would be credited towards the George Purchase Price; if however, the closing does not occur because the Company fails or refuses to do so when BGKP is otherwise ready to close and has satisfied all of its obligations under the George PSA, or the Company does not cure a material breach, then BGKP shall keep the George Earnest Money as liquidated damages in lieu of all other damages. As of the date of this Report, the Company has not yet paid the George Purchase Price and will not be able to pay that, or the George Earnest Money payment, without receiving additional funding, of which there can be no guarantee. Accordingly, the purchase may not occur.

The Company is entitled to conduct due diligence of the properties prior to closing and the George PSA includes curative provisions if certain defects or other issues arise during such due diligence, as well as the handling of any such disputes.

The George PSA may be terminated (1) at any time prior to closing by mutual written consent of the Company and BGKP, (2) by either party if closing has not occurred by October 1, 2015, or such later date to which the Closing Date has been delayed, or if any government authority issued an order or ruling permanently restraining, enjoining or otherwise prohibiting the closing, (3) by the Company if there is a material breach of the representations and warranties made by BGKP with 15 days prior notice, and (4) by BGKP if there is a material breach of the representations and warranties made by the Company with 15 days prior notice. Either party may also terminate the George PSA if the other party does not cure any failure to comply in any material respect with any of such other party's covenants or agreements.

Wyoming – West Mule Creek

On August 6, 2014, the Company executed a Purchase and Sale Agreement (the "Wyoming PSA") with BGKP. Pursuant to the Wyoming PSA, the Company shall receive an agreed upon percentage of the working and net revenue interest in and to the West Mule Creek oilfield, which is located in Wyoming. Through this interest, the Company will receive a certain percentage of the West Mule Creek lease, acres of land within Niobrara County that contains 13 wells, certain rights to specific wells and land contained on the lease, as well as any by-products produced thereon, machinery, equipment and the books and records related to same. Pursuant to the Wyoming PSA, the parties also entered into a Joint Exploration Agreement (JEA”), with a 3 year term. On August 6, 2014, the parties also entered into an addendum to the Wyoming PSA that clarifies that the Wyoming PSA shall not be interdependent with or upon the JEA and no default under the JEA shall effect the Wyoming PSA or the validity of the related purchase and sale.

The total consideration for the purchase, sale and conveyance of the Assets to the Company and the Company’s assumption of the undivided share of liabilities provided for in the Wyoming PSA, is the Company’s payment to BGKP of the sum of $2,352,000 (the “Wyoming Purchase Price”), as adjusted in accordance with the provisions of the Wyoming PSA. Although required by the terms of the Wyoming PSA, the Company has not yet placed $15,000 in an escrow account (the "Wyoming Earnest Money"), which upon closing, would be credited towards the Wyoming Purchase Price; if however, the closing does not occur because the Company fails or refuses to do so when BGKP is otherwise ready to close and has satisfied all of its obligations under the Wyoming PSA, or the Company does not cure a material breach, then BGKP shall keep the Wyoming Earnest Money as liquidated damages in lieu of all other damages. As of the date of this Report, the Company has not yet paid the Wyoming Purchase Price and will not be able to pay that, or the Wyoming Earnest Money payment, without receiving additional funding, of which there can be no guarantee. Accordingly, the purchase may not occur.

The Company is entitled to conduct due diligence of the properties prior to closing and the Wyoming PSA includes curative provisions if certain defects or other issues arise during such due diligence and how any disputes regarding same may be handled.

On July 23, 2015, both parties agreed to extend the Wyoming PSA until October 1, 2015. Both parties have further agreed to defer the closing of the West Mule Creek Oilfield pursuant to the Wyoming PSA until the acquisition of the George Prospect in Kansas pursuant to the George PSA is complete.

The Wyoming PSA may be terminated (1) at any time prior to closing by mutual written consent of the Company and BGKP, (2) by either party if closing has not occurred by October 1, 2015, or such later date to which the Closing Date has been delayed, or if any government authority issued an order or ruling permanently restraining, enjoining or otherwise prohibiting the closing, (3) by the Company if there is a material breach of the representations and warranties made by BGKP with 15 days prior notice, and (4) by BGKP if there is a material breach of the representations and warranties made by the Company with 15 days prior notice. Either party may also terminate the PSA is the other party does not cure any failure to comply in any material respect with any of such other party's covenants or agreements.

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Note 10 - Commitments and Contingencies (Details Textual) - USD ($)	3 Months Ended
	Jun. 30, 2015	Mar. 31, 2015	Dec. 17, 2012
Preferred Stock, Shares Issued	182,000	182,000	3,000,000
Investment from Investors Amount	$ 300,000

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Note 9 - Stockholders' Equity (Details Textual) - USD ($)	1 Months Ended	3 Months Ended
	Dec. 31, 2012	Jun. 30, 2015	Jun. 30, 2014	Mar. 31, 2015
Series A Convertible Preferred Stock [Member]
Dividends, Preferred Stock		$ 18,200	$ 18,200
Preferred Stock, Shares Authorized	3,000,000
Preferred Stock, Par or Stated Value Per Share	$ 0.001
Preferred Stock, Redemption Price Per Share	$ 5
Preferred Stock, Dividend Rate, Percentage	8.00%
Mr. Richardson [Member]
Stock Issued During Period, Shares, Issued for Services		28,413	13,846
Stock Issued During Period, Value, Issued for Services		$ 60,000	$ 60,000
Deferred Compensation Arrangement with Individual, Common Stock Reserved for Future Issuance		85,623	17,692
Fidare Consulting Group [Member]
Stock Issued During Period, Shares, Issued for Services			13,846
Stock Issued During Period, Value, Issued for Services			$ 60,000
Preferred Stock, Shares Authorized		3,000,000		3,000,000
Preferred Stock, Par or Stated Value Per Share		$ 0.001		$ 0.001
Preferred Stock, Redemption Price Per Share		5		5
Common Stock, Par or Stated Value Per Share		$ 0.001		$ 0.001
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right		1
Class of Warrant or Right, Exercise Price of Warrants or Rights		$ 6.50
Investment Warrants, Exercise Price		$ 7
Stock Issued During Period, Value, Issued for Services		$ (60,000)	$ (120,000)

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Note 11 - Subsequent Events (Details Textual) - Jul. 01, 2015 - Subsequent Event [Member] - Houston, Texas [Member]	USD ($) a
Area of Real Estate Property	4,000
Operating Leases, Rent Expense Per Month | $	$ 3,000

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Note 3 - Significant Accounting Policies

3 Months Ended

Jun. 30, 2015

Notes to Financial Statements

Significant Accounting Policies [Text Block]

NOTE 3 – SIGNIFICANT ACCOUNTING POLICIES

Estimates

The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period.  Actual results could differ from those estimates.

Cash

Cash and cash equivalents include short-term, highly liquid investments with maturities of less than three months when acquired.

Income taxes

The Company accounts for income taxes under ASC 740

"Income Taxes"

which codified SFAS 109,

"Accounting for Income Taxes"

and FIN 48

“Accounting for Uncertainty in Income Taxes – an Interpretation of FASB Statement No.109.”

Under the asset and liability method of ASC 740, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statements 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 ASC 740, the effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period the enactment occurs.  A valuation allowance is provided for certain deferred tax assets if it is more likely than not that the Company will not realize tax assets through future operations.

Fair Value of Financial Instruments

 

The Company's financial instruments as defined by FASB ASC 825-10-50 include cash, trade accounts receivable, and accounts payable and accrued expenses.  All instruments are accounted for on a historical cost basis, which, due to the short maturity of these financial instruments, approximates fair value at June 30, 2015 and March 31, 2015

.

FASB ASC 820 defines fair value, establishes a framework for measuring fair value in accordance with generally accepted accounting principles, and expands disclosures about fair value measurements.  ASC 820 establishes a three-tier fair value hierarchy which prioritizes the inputs used in measuring fair value as follows:

Level 1.  Observable inputs such as quoted prices in active markets;

Level 2.  Inputs, other than the quoted prices in active markets, that are observable either directly or indirectly; and

Level 3.  Unobservable inputs in which there is little or no market data, which requires the reporting entity to develop its own assumptions.  

The Company does not have any assets or liabilities measured at fair value on a recurring or nonrecurring basis at June 30, 2015 or March 31, 2015

.

Impairment of Long-Lived Assets

The Company reviews its long-lived assets and certain identifiable intangibles for impairment when events or changes in circumstances indicate that the carrying amount of the assets may not be recoverable.  Recoverability of assets to be held and used is measured by a comparison of the carrying amounts of the assets to future net cash flows expected to be generated by the assets.  If such assets are considered impaired, the impairment to be recognized is measured by the amount by which the carrying amount of the assets exceed the fair value of the assets based on estimated future cash flows.

Earnings Per Share Information

FASB ASC 260, “

Earnings Per Share”

provides for calculation of "basic" and "diluted" earnings per share.  Basic earnings per share includes no dilution and is computed by dividing net income (loss) available to common shareholders by the weighted average common shares outstanding for the period.  For purposes of the earnings per share calculation, we consider shares to be issued as issued shares as of the date the shares are earned. Weighted average shares outstanding for the three months ended June 30, 2015 and 2014 includes 85,623 and 17,692 of shares to be issued. Diluted earnings per share reflect the potential dilution of securities that could share in the earnings of an entity similar to fully diluted earnings per share.  Basic and diluted loss per share were the same, at the reporting dates, as there were no common stock equivalents outstanding.

Share Based Expenses

The Company accounts for stock-based compensation issued to non-employees and consultants in accordance with the provisions of ASC 505-50

"Equity - Based Payments to Non-Employees"

which codified SFAS 123 and the Emerging Issues Task Force consensus in Issue No. 96-18 ("EITF 96-18"),

"Accounting for Equity Instruments that are Issued to Other Than Employees for Acquiring or in Conjunction with Selling, Goods or Services".  

Measurement of share-based payment transactions with non-employees shall be based on the fair value of whichever is more reliably measurable: (

a

) the goods or services received; or (

b

) the equity instruments issued.  The fair value of the share-based payment transaction should be determined at the earlier of performance commitment date or performance completion date.

Reclassifications

and revision of prior period amounts

Certain amounts in the June 30, 2014 financial statements have been reclassified to conform to the June 30, 2015 presentation. The Company has revised prior period statement of operations to include deemed preferred stock dividends of $18,200.

Recent accounting pronouncements

In August 2014, the FASB issued a new Accounting Standards Update, Presentation of Financial Statements—Going Concern (Subtopic 205-40): Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern (ASU 2014-15). ASU 2014-15 provides guidance on management’s responsibility to evaluate whether there is substantial doubt about an entity’s ability to continue as a going concern within one year of the date the financial statements are issued, and, if such conditions exist, to provide related footnote disclosures. The guidance is effective for annual periods ending after December 15, 2016 and interim periods within annual periods beginning after December 15, 2016. Early adoption is permitted. The Company expects to adopt this guidance when effective and is currently evaluating the effect that the updated standard will have on its financial statements and related disclosures.

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Unaudited Balance Sheets - USD ($)	Jun. 30, 2015	Mar. 31, 2015
Current assets
Cash	$ 18	$ 39
Total current assets	18	39
Total assets	18	39
Current liabilities
Accounts payable	448,993	346,662
Accounts Payable- related party	380,778	336,677
Accrued interest payable- related party	27,176	22,519
Related party advances and notes payable	100	100
Total current liabilities	857,047	705,958
Related party note payable	616,155	598,659
Total liabilities	1,473,202	1,304,617
Stockholders' deficit
Series A convertible preferred stock, $.001 par value, stated value $5.00 per share, 3,000,0000 shares authorized; 182,000 shares issued and outstanding	182	182
Common stock to be issued	140,000	80,000
Common stock, $.001 par value; 75,000,000 shares authorized; 20,105,293 shares issued and outstanding	20,105	20,105
Additional paid in capital	5,855,564	5,855,564
Retained deficit	(7,489,035)	(7,260,429)
Total stockholders' deficit	(1,473,184)	(1,304,578)
Total liabilities and stockholders' deficit	$ 18	$ 39

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Note 1 - Interim Financial Statements

3 Months Ended

Jun. 30, 2015

Notes to Financial Statements

Condensed Financial Statements [Text Block]

NOTE 1 – INTERIM FINANCIAL STATEMENTS

The accompanying unaudited consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the US (US GAAP) for interim financial information, with the instructions to Form 10-Q, and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and notes required by US GAAP for complete financial statements.  The accompanying financial statements at June 30, 2015 and March 31, 2015 and for the three months ended June 30, 2015 and 2014 contain all normally recurring adjustments considered necessary for a fair presentation of our financial position, results of operations, cash flows and shareholders’ equity for such periods.  Operating results for the three months ended June 30, 2015 are not necessarily indicative of the results that may be expected for the year ending March 31, 2016. The unaudited consolidated financial statements should be read in conjunction with the audited financial statements and notes thereto contained in the Company's annual report for the year ended March 31, 2015.

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Note 5 - Related Party Notes Payable and Advances (Details Textual) - USD ($)			3 Months Ended
	Sep. 27, 2013	Nov. 01, 2012	Jun. 30, 2015	Jun. 30, 2014	Mar. 31, 2015	Sep. 04, 2013	Nov. 28, 2012
Hadley Note [Member] | Director [Member]
Due to Related Parties, Current		$ 100,000
Debt Instrument, Term		60 years
Short-term Debt, Percentage Bearing Fixed Interest Rate		6.00%
Debt Conversion, Converted Instrument, Shares Issued	20,000
Hadley Note [Member] | Series A Preferred Stock [Member]
Stock Issued During Period, Shares, New Issues	20,000
CE Trust [Member]
Due to Related Parties							$ 100
Cicerone Corporate Development LLC [Member] | Revolving Credit Facility [Member] | London Interbank Offered Rate (LIBOR) [Member]
Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate						2.75%
Cicerone Corporate Development LLC [Member] | Revolving Credit Facility [Member]
Due to Related Parties, Current			$ 616,155
Loans and Leases Receivable, Gross, Consumer, Revolving, Other						$ 750,000
Cicerone Corporate Development LLC [Member]
Proceeds from Related Party Debt			17,496	$ 91,576
Deposit Liabilities, Accrued Interest			27,176
Due to Related Parties, Current			100		$ 100
Deposit Liabilities, Accrued Interest			$ 27,176		$ 22,519

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Note 7 - Warrants (Details Textual) - USD ($)	3 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Warrant Expense	$ 0	$ 0

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Note 2 - Going Concern

3 Months Ended

Jun. 30, 2015

Notes to Financial Statements

Going Concern Disclosure [Text Block]

NOTE 2 – GOING CONCERN

The Company’s financial statements are prepared using generally accepted accounting principles in the United States of America applicable to a going concern which contemplates the realization of assets and liquidation of liabilities in the normal course of business. The Company has not yet established an ongoing source of revenues sufficient to cover its operating costs, which raises substantial doubt about the Company’s ability to continue as a going concern. The ability of the Company to continue as a going concern is dependent on the Company obtaining adequate capital to fund operating losses until it becomes profitable. If the Company is unable to obtain adequate capital, it could be forced to cease operations.

In order to continue as a going concern, the Company will need, among other things, additional capital resources. Management’s plan is to obtain such resources for the Company by obtaining capital from management and significant shareholders sufficient to meet its minimal operating expenses and seeking equity and/or debt financing. However management cannot provide any assurances that the Company will be successful in accomplishing any of its plans.

The ability of the Company to continue as a going concern is dependent upon its ability to successfully accomplish the plans described in the preceding paragraph and eventually secure other sources of financing and attain profitable operations. The accompanying financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern.

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Unaudited Balance Sheets (Parentheticals) - $ / shares	Jun. 30, 2015	Mar. 31, 2015
Preferred Stock, Par Value (in dollars per share)	$ 0.001	$ 0.001
Preferred Stock, Shares Authorized (in shares)	3,000,000	3,000,000
Preferred Stock, Shares Issued (in shares)	182,000	182,000
Preferred Stock, Shares Outstanding (in shares)	182,000	182,000
Preferred Stock, Stated Value (in dollars per share)	$ 5	$ 5
Common Stock, Par Value (in dollars per share)	$ 0.001	$ 0.001
Common Stock, Shares Authorized (in shares)	75,000,000	75,000,000
Common Stock, Shares Issued (in shares)	20,105,293	20,105,293
Common Stock, Shares Outstanding (in shares)	20,105,293	20,105,293

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Significant Accounting Policies (Policies)

3 Months Ended

Jun. 30, 2015

Accounting Policies [Abstract]

Use of Estimates, Policy [Policy Text Block]

Estimates

The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period.  Actual results could differ from those estimates.

Cash and Cash Equivalents, Policy [Policy Text Block]

Cash

Cash and cash equivalents include short-term, highly liquid investments with maturities of less than three months when acquired.

Income Tax, Policy [Policy Text Block]

Income taxes

The Company accounts for income taxes under ASC 740

"Income Taxes"

which codified SFAS 109,

"Accounting for Income Taxes"

and FIN 48

“Accounting for Uncertainty in Income Taxes – an Interpretation of FASB Statement No.109.”

Under the asset and liability method of ASC 740, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statements 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 ASC 740, the effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period the enactment occurs.  A valuation allowance is provided for certain deferred tax assets if it is more likely than not that the Company will not realize tax assets through future operations.

Fair Value Measurement, Policy [Policy Text Block]

Fair Value of Financial Instruments

 

The Company's financial instruments as defined by FASB ASC 825-10-50 include cash, trade accounts receivable, and accounts payable and accrued expenses.  All instruments are accounted for on a historical cost basis, which, due to the short maturity of these financial instruments, approximates fair value at June 30, 2015 and March 31, 2015

.

FASB ASC 820 defines fair value, establishes a framework for measuring fair value in accordance with generally accepted accounting principles, and expands disclosures about fair value measurements.  ASC 820 establishes a three-tier fair value hierarchy which prioritizes the inputs used in measuring fair value as follows:

Level 1.  Observable inputs such as quoted prices in active markets;

Level 2.  Inputs, other than the quoted prices in active markets, that are observable either directly or indirectly; and

Level 3.  Unobservable inputs in which there is little or no market data, which requires the reporting entity to develop its own assumptions.  

The Company does not have any assets or liabilities measured at fair value on a recurring or nonrecurring basis at June 30, 2015 or March 31, 2015

.

Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block]

Impairment of Long-Lived Assets

The Company reviews its long-lived assets and certain identifiable intangibles for impairment when events or changes in circumstances indicate that the carrying amount of the assets may not be recoverable.  Recoverability of assets to be held and used is measured by a comparison of the carrying amounts of the assets to future net cash flows expected to be generated by the assets.  If such assets are considered impaired, the impairment to be recognized is measured by the amount by which the carrying amount of the assets exceed the fair value of the assets based on estimated future cash flows.

Earnings Per Share, Policy [Policy Text Block]

Earnings Per Share Information

FASB ASC 260, “

Earnings Per Share”

provides for calculation of "basic" and "diluted" earnings per share.  Basic earnings per share includes no dilution and is computed by dividing net income (loss) available to common shareholders by the weighted average common shares outstanding for the period.  For purposes of the earnings per share calculation, we consider shares to be issued as issued shares as of the date the shares are earned. Weighted average shares outstanding for the three months ended June 30, 2015 and 2014 includes 85,623 and 17,692 of shares to be issued. Diluted earnings per share reflect the potential dilution of securities that could share in the earnings of an entity similar to fully diluted earnings per share.  Basic and diluted loss per share were the same, at the reporting dates, as there were no common stock equivalents outstanding.

Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block]

Share Based Expenses

The Company accounts for stock-based compensation issued to non-employees and consultants in accordance with the provisions of ASC 505-50

"Equity - Based Payments to Non-Employees"

which codified SFAS 123 and the Emerging Issues Task Force consensus in Issue No. 96-18 ("EITF 96-18"),

"Accounting for Equity Instruments that are Issued to Other Than Employees for Acquiring or in Conjunction with Selling, Goods or Services".  

Measurement of share-based payment transactions with non-employees shall be based on the fair value of whichever is more reliably measurable: (

a

) the goods or services received; or (

b

) the equity instruments issued.  The fair value of the share-based payment transaction should be determined at the earlier of performance commitment date or performance completion date.

Reclassification, Policy [Policy Text Block]

Reclassifications

and revision of prior period amounts

Certain amounts in the June 30, 2014 financial statements have been reclassified to conform to the June 30, 2015 presentation. The Company has revised prior period statement of operations to include deemed preferred stock dividends of $18,200.

New Accounting Pronouncements, Policy [Policy Text Block]

Recent accounting pronouncements

In August 2014, the FASB issued a new Accounting Standards Update, Presentation of Financial Statements—Going Concern (Subtopic 205-40): Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern (ASU 2014-15). ASU 2014-15 provides guidance on management’s responsibility to evaluate whether there is substantial doubt about an entity’s ability to continue as a going concern within one year of the date the financial statements are issued, and, if such conditions exist, to provide related footnote disclosures. The guidance is effective for annual periods ending after December 15, 2016 and interim periods within annual periods beginning after December 15, 2016. Early adoption is permitted. The Company expects to adopt this guidance when effective and is currently evaluating the effect that the updated standard will have on its financial statements and related disclosures.

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Document And Entity Information - shares	3 Months Ended
	Jun. 30, 2015	Sep. 01, 2015
Entity Registrant Name	Rangeford Resources, Inc.
Entity Central Index Key	0001438035
Current Fiscal Year End Date	--03-31
Entity Filer Category	Smaller Reporting Company
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Entity Common Stock, Shares Outstanding (in shares)		20,105,293
Document Type	10-Q
Document Period End Date	Jun. 30, 2015
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	Q1
Amendment Flag	false

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Note 7 - Warrants (Tables)

3 Months Ended

Jun. 30, 2015

Notes Tables

Schedule Of Share Based Compensation Stock Warrants Activity [Table Text Block]

Stock Warrants	Number of Warrants		Weighted Average Exercise Price
Balance: April 1, 2015		300,000	$	4.60
Granted		-		-
Exercised		-		-
Expired		-		-
Balance: June 30, 2015		300,000	$	4.60
Warrants exercisable at June 30, 2015		300,000	$	4.60

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Unaudited Statements of Operations - USD ($)	3 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Operating expenses
Investor relations	$ 8,039
Professional fees	100,550	$ 91,258
Professional fees-related party	96,000	1,688,616
General and administrative	19,359	24,176
Total operating expenses	223,948	1,804,050
Loss from operations	(2,513,439)	(1,804,050)
Other expense
Interest expense-related party	4,658	30,233
Total other expense	4,658	30,233
Loss before income taxes	$ (228,606)	$ (1,834,283)
Provision for income tax
Net loss	$ (228,606)	$ (1,834,283)
Deemed preferred stock dividends	18,200	18,200
Net loss attributable to common shareholders	$ (246,806)	$ (1,852,483)
Basic and diluted loss per common share (in dollars per share)	$ (0.01)	$ (0.09)
Weighted average shares outstanding (in shares)	20,172,137	19,844,763

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Note 7 - Warrants

3 Months Ended

Jun. 30, 2015

Notes to Financial Statements

Warrant Disclosure [Text Block]

NOTE 7 – WARRANTS

The fair value of each warrant granted is estimated on the date of grant using the Black-Scholes option valuation model that uses the assumptions noted in the following table. Expected volatilities are based on volatilities from similar companies given our limited trading history.

The expected term of warrants granted is estimated at the contractual term as noted in the individual warrant agreements and represents the period of time that warrants granted are expected to be outstanding. The risk-free rate for the periods within the contractual life of the warrant is based on the U.S. Treasury bill rate in effect at the time of grant for treasury bills with maturity dates at the estimated term of the warrants.

A summary of warrant activity as of June 30, 2015 and changes during the period then ended are presented below:

Stock Warrants	Number of Warrants		Weighted Average Exercise Price
Balance: April 1, 2015		300,000	$	4.60
Granted		-		-
Exercised		-		-
Expired		-		-
Balance: June 30, 2015		300,000	$	4.60
Warrants exercisable at June 30, 2015		300,000	$	4.60

No Warrant expense recognized during the three months ended June 30, 2015 or 2014.  

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Note 6 - Other Related Party Transactions

3 Months Ended

Jun. 30, 2015

Notes to Financial Statements

Related Party Transactions Disclosure [Text Block]

NOTE 6 – OTHER RELATED PARTY TRANSACTIONS

Professional Services

On June 26, 2013, the Company entered into a new Consulting Agreement (the “Fidare Consulting Agreement”) with Fidare to provide consulting services relating to corporate governance, accounting procedures and control and strategic planning  In accordance with the terms of the Fidare Consulting Agreement, Fidare receives monthly compensation of shares of common stock valued at $20,000 based on the price at the close on the last trading day of each month and 20,000 warrants to purchase common stock, with each warrant having an exercise price equal to the closing sale price of the Common Stock on the date of issue and providing for a cashless or net issue exercise.

On July 1, 2014, the Fidare Consulting Agreement was amended so Fidare would receive only monthly compensation shares of common stock valued at $20,000 based on the price at the close on the last trading day of each month.  The managing member of Fidare is the C.E. McMillan Family Trust.  Harry McMillan is trustee of the C.E. McMillan Family Trust. Effective April 1, 2015, Fidare agreed to waive all monthly compensation under the Fidare Agreement until further notice.

For the three month period ended June 30, 2015, the Company did not recognize any expenses under the Fidare Agreement due to the waiver discussed above. For the three month period ended June 30, 2014, the Company recognized $253,540 in expenses to Fidare consulting that were paid in shares of stock and warrants which was recorded in Professional fees- related party expenses.  As of June 30, 2015, the Company is obligated to issue Fidare 28,605 shares of the Company’s common stock that were earned prior to April 1, 2015.       

Chief executive officer compensation agreement

In accordance with the terms of his contract Mr. Colin Richardson is entitled to receive monthly compensation to serve as out chief executive officer in the form of cash and stock. Each month that he serves at that position, Mr. Richardson is entitled to receive $10,000 payable in cash and a number of shares of the Company’s common stock valued at $20,000 based on its price at the close on the last trading day of each month and two year warrants to purchase up to 20,000 shares of the Company’s common stock at an exercise price per share equal to the closing sale price of the common stock on the date of the issuance. Prior to July 1, 2014, Mr. Richardson also received warrants. For the three month period ended June 30, 2015, Mr. Richardson was entitled to 28,413 shares of common stock valued at approximately $60,000 and cash compensation of $30,000. For the three month period ended June 30, 2014, Mr. Richardson earned 13,846 shares of common stock valued at approximately $60,000, warrants valued at approximately $193,720 and was entitled to cash compensation of $30,000.

During the three month periods ended June 30, 2015 and 2014, the Company recognized $90,000 and $283,540 in professional fees-related party relating to these agreements. As of June 30, 2015, Mr. Richardson has not been paid the cash portion of his compensation and is owed $297,721 and $267,721 as of June 30, 2015 and March 31, 2015, respectively, which is included in accounts payable- related parties

. As of June 30, 2015, the Company is obligated to issue Mr. Richardson 85,623 shares of the Company’s common stock under these agreements.

Director’s fees

In exchange for his services as a member of the Board of Directors, Mr. Mike Farmer is entitled to receive $2,000 per month payable in cash. In addition, during the three month period ended June 30, 2014, Mr. Farmer was awarded options to purchase 108,000 of common stock at $1.00 per share and options to purchase 200,000 shares of our common stock at $3.00 per share. The options were fully vested at the date of issuance of the award. The Company recognized an expense of $1,179,395 during the three month period ended June 30, 2014 for the option awards which was recorded as professional fees- related party.

As of June 30, 2015, Mr. Farmer has not been paid the cash portion of his compensation and is owed $36,000 and $30,000 as of June 30, 2015 and March 31, 2015, respectively, which is included in accounts payable- related parties.

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Note 6 - Other Related Party Transactions (Details Textual) - USD ($)	3 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Mar. 31, 2015	Jul. 01, 2014	Jun. 26, 2013
Fidare [Member]
Professional Fees	$ 0	$ 253,540
Common Stock, Value, Issued					$ 20,000
Warrants Issued					20,000
Other Deferred Compensation Arrangements, Liability, Current				$ 20,000
Obligated Common Stock Shares to BeIssued Under the Agreement	28,605
Mr. Richardson [Member] | Chief Executive Officer [Member]
Professional Fees	$ 90,000	$ 283,540
Monthly Cash Compensation	10,000
Monthly Shares Issued for Compensation Value	$ 20,000
Warrants Term	2 years
Monthly Warrants Issued for Compensation	20,000
Stock Issued During Period, Shares, Share-based Compensation, Net of Forfeitures	28,413	13,846
Stock Issued During Period, Value, Share-based Compensation, Net of Forfeitures	$ 60,000	$ 60,000
Officers' Compensation	30,000	30,000
Warrant Value		$ 193,720
Due to Related Parties	$ 297,721		$ 267,721
Deferred Compensation Arrangement with Individual, Common Stock Reserved for Future Issuance	85,623
Mr. Farmer [Member] | Director [Member] | Exercise Price Range 1 [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross		108,000
Mr. Farmer [Member] | Director [Member] | Exercise Price Range 2 [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross		200,000
Mr. Farmer [Member] | Director [Member] | Accounts Payable and Accrued Liabilities [Member]
Due to Related Parties	$ 36,000		30,000
Mr. Farmer [Member] | Director [Member]
Monthly Cash Compensation	2,000
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Lower Range Limit		$ 1
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Upper Range Limit		$ 3
Professional Fees	100,550	$ 91,258
Common Stock, Value, Issued	20,105		$ 20,105
Stock or Unit Option Plan Expense	$ 0	$ 1,179,395

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Note 8 - Options (Tables)

3 Months Ended

Jun. 30, 2015

Notes Tables

Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]

Options	Number of Options		Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (in years)		Aggregate Intrinsic Value
Balance: April 1, 2015		308,000	$	2.30		2.3	$	102,600
Granted		-		-		-
Exercised		-		-				-
Expired		-		-				-
Balance: June 30, 2015		308,000	$	2.3		2.08	$	118,800
Options exercisable at June 30, 2015		308,000	$	2.3		2.08	$	118,800

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Note 10 - Commitments and Contingencies

3 Months Ended

Jun. 30, 2015

Notes to Financial Statements

Commitments and Contingencies Disclosure [Text Block]

NOTE 10 – COMMITMENTS AND CONTINGENCIES

We have become aware of a letter dated December 17, 2012 from Dr. Steven Henson to Michael Farmer, who at time was not a director or officer of Rangeford, with regard to our offering of up to 3,000,000 of our preferred stock in connection with our proposed acquisition of certain properties from Great Northern Energy, Inc.  In the letter, Dr. Henson, who at the time was the President and Chairman of the Board of Rangeford, purports to grant a right of rescission to certain investors in the event that we were unable to raise the full amount of funds necessary to acquire the subject properties from Great Northern Energy.  This right of rescission was never approved by our Board of Directors and it is our position that Dr. Henson acted without proper authority in providing the letter to Mr. Farmer, as the representative of certain investors.  At this point no claim has been made by any of the investors, who invested approximately $300,000 into Rangeford and we have no reason to assume that a claim will ultimately be made.

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Note 8 - Options

3 Months Ended

Jun. 30, 2015

Notes to Financial Statements

Fair Value, Option [Text Block]

NOTE 8 – OPTIONS

The fair value of each option granted is estimated on the date of grant using the Black-Scholes option valuation model that uses the assumptions noted in the following table. Expected volatilities are based on volatilities from similar companies given our limited trading history.

The expected term of options granted is estimated at the contractual term as noted in the individual option agreements and represents the period of time that options granted are expected to be outstanding. The risk-free rate for the periods within the contractual life of the option is based on the U.S. Treasury bill rate in effect at the time of grant for treasury bills with maturity dates at the estimated term of the options.

A summary of option activity as of June 30, 2015 and changes during the period then ended are presented below:

Options	Number of Options		Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (in years)		Aggregate Intrinsic Value
Balance: April 1, 2015		308,000	$	2.30		2.3	$	102,600
Granted		-		-		-
Exercised		-		-				-
Expired		-		-				-
Balance: June 30, 2015		308,000	$	2.3		2.08	$	118,800
Options exercisable at June 30, 2015		308,000	$	2.3		2.08	$	118,800

No Option expense was recognized during the three months ended June 30, 2015.  Option expense of $1,179,395 was included in professional fees for the three months ended June 30, 2014.

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Note 9 - Stockholders' Equity

3 Months Ended

Jun. 30, 2015

Notes to Financial Statements

Stockholders' Equity Note Disclosure [Text Block]

NOTE 9 – STOCKHOLDERS’ EQUITY

Series A Convertible Preferred Stock

In December 2012, the Board of directors authorized the offering for sale and issuance of up to a maximum of 3,000,000 Shares of our Series “A” Convertible Preferred Stock, $0.001 par value per share (the “Preferred Stock”). The Stated Value of the Preferred Stock is $5.00 per Share. Each Share of Preferred Stock bears an eight percent (8%) cumulative dividend, due and payable quarterly as of July 31, October 31, January 31 and April 30. The Company records cumulative dividends whether or not declared. During the three month periods ended June 30, 2015 and 2014, the Company recorded deemed dividends of $18,200 for undeclared dividends on the preferred stock. Each share may be converted by the holder thereof, at any time, into one share of the Company’s common stock, par value $0.001 per share and one warrant exercisable at $6.50 per share into one share of the Company’s common stock. The Company may force conversion to common stock and one warrant if the Company’s common stock trades over $7.00 for forty-five consecutive trading days

.

Common stock

During the quarter ended June 30, 2015, in accordance with the terms of the agreement with Mr. Richardson, the Company committed to issue 28,413 shares of common stock to Mr. Richardson valued at $60,000 for services (see Note 6).

During the quarter ended June 30, 2014, the Company issued 13,846 shares of common stock valued at $60,000 to Fidare for services (see Note 6).

During the quarter ended June 30, 2014, the Company issued Mr. Richardson, 13,846 shares of common stock valued at $60,000 for services (see Note 6).

As of June 30, 2015, the Company has committed to issue a total of 85,623 shares of common stock.  All issuable shares are unregistered shares.

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Note 11 - Subsequent Events

3 Months Ended

Jun. 30, 2015

Notes to Financial Statements

Subsequent Events [Text Block]

NOTE 11 – SUBSEQUENT EVENTS

Effective July 1, 2015, the Company entered into a nine month sublease agreement for office space in Houston, Texas. In accordance of the terms of the sublease agreement, the Company would share approximately 4,000 square feet of office space with an oil and gas engineering firm for $3,000 per month. The Company also has a consulting contract with the engineering firm for oil and gas engineering consulting services.

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Note 4 - Agreement to Purchase Oil and Gas Properties (Details Textual)				1 Months Ended
	Aug. 17, 2015 USD ($)	Aug. 06, 2014 USD ($)	Sep. 30, 2013 USD ($)	Apr. 30, 2015 USD ($) a	May. 20, 2014 USD ($)	Jan. 25, 2013 USD ($) shares	Jun. 30, 2015 shares	Mar. 31, 2015 shares	Dec. 31, 2013 USD ($) shares
Black Gold Kansas Production LLC [Member] | Subsequent Event [Member] | George Prospect PSA [Member]
Purchase Price, Monthly Installments, Due at Closing	$ 15,000
Purchase Price, Monthly Installment, Due 1 Month After Closing	100,000
Purchase Price, Monthly Installments, Due 2 Months After Closing	100,000
Purchase Price, Monthly Installments, Due 3 Months After Closing	$ 417,000
Black Gold Kansas Production LLC [Member] | Subsequent Event [Member]
Payments to Acquire Oil and Gas Property and Equipment						$ 3,900,000
Escrow Deposit		$ 15,000
Payments to Acquire Businesses, Gross		$ 2,352,000
Term of Exploration Agreement		3 years
Black Gold Kansas Production LLC [Member] | George Prospect PSA [Member]
Escrow Deposit				$ 10,000
Working Interest				30.00%
Revenue Interest				26.25%
Business Acquisition, Percentage of Voting Interests Acquired				75.00%
Area of Land | a				3,000
Payments to Acquire Businesses, Gross				$ 767,000
Great Northern Energy [Member] | Promissory Note I [Member]
Notes Payable						1,100,000
Great Northern Energy [Member] | Promissory Note II [Member]
Notes Payable						2,700,000
Great Northern Energy [Member]
Escrow Deposit						$ 100,000
Stock Issued During Period, Shares, Other | shares						7,400,000
Asset Impairment Charges			$ 700,000
Common Stock, Shares, Outstanding | shares									7,400,000
Increase (Decrease) in Deposits					$ 700,000
Common Stock, Shares, Outstanding | shares							20,105,293	20,105,293
Deposits Assets, Noncurrent									$ 36,557

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Note 8 - Options (Details Textual) - USD ($)	3 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Stock or Unit Option Plan Expense	$ 0	$ 1,179,395

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Unaudited Statements of Cash Flows - USD ($)	3 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Cash flows from operating activities
Net loss	$ (228,606)	$ (1,834,283)
Adjustments to reconcile net loss to net cash used in operating activities:
Common stock issued for services	$ 60,000	120,000
Amortization of debt discount		26,938
Warrant expense		387,080
Option expense	$ 0	1,179,395
Accounts payable	102,331	$ 26,953
Accounts payable- related party	44,101
Accrued interest payable	4,657	$ 3,296
Net cash used in operating activities	(17,517)	(90,621)
Cash flows from financing activities
Proceeds from related advances and notes payable	17,496	91,576
Net cash provided by financing activities	17,496	91,576
Net (decrease) increase in cash	(21)	955
Cash at beginning of period	39	173
Cash at end of period	$ 18	$ 1,128
Supplemental Cash Flow Information:
Cash paid for interest
Cash paid for income taxes

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Note 5 - Related Party Notes Payable and Advances

3 Months Ended

Jun. 30, 2015

Notes to Financial Statements

Accounts Payable and Accrued Liabilities Disclosure [Text Block]

NOTE 5 – RELATED PARTY NOTES PAYABLE AND ADVANCES

On November 1, 2012, the Company entered into a note agreement with a shareholder, and former director, Mr. Hadley, pursuant to which the Company borrowed $100,000 from the shareholder which was payable in 60 days with interest at 6% per annum (the “Hadley Note”).  Proceeds from the Hadley Note were paid directly to Great Northern Energy as a deposit to purchase certain oil and gas assets.  The Hadley Note was payable in 60 days with interest at 6% per annum.  

Upon the Company’s receipt of a Subscription Agreement and pursuant to a request from Mr. Hadley, on September 27, 2013, the Company’s Board of Directors approved via unanimous written consent to convert the Hadley Note into 20,000 shares of the Company’s Series A Preferred Stock; on the same day, 20,000 shares of Series A Preferred Stock were issued to Mr. Hadley. Pursuant to the conversion of the Hadley Note, the Company would not have any further liability to Mr. Hadley thereunder.   Mr. Hadley has informed the Company that he does not agree with the Conversion of the Hadley Note into the Series A Preferred Stock. The Company has had no further correspondence with Mr. Hadley on this matter since he expressed his initial objections.

On November 28, 2012, the CE McMillan Family Trust (the "CE Trust") advanced the Company $100 to facilitate the opening of a new bank account in Irving, Texas. The trustee of the C.E. McMillan Family Trust is also the managing member of Fidare Consulting Group, LLC ("Fidare") and Cicerone Corporate Development, LLC ("Cicerone"). The advance had not been repaid as of June 30, 2015.  

On September 4, 2013, the Company received a $750,000 Revolving Credit Note (the “Cicerone Revolving Note”) from Cicerone Corporate Development, LLC, a related party, (“Cicerone”).  The Cicerone Revolving Note matured on February 1, 2015 and bears interest at the rate of LIBOR plus 2.75% per annum, which is payable semi-annually on June 30 and December 31 of each year. On January 29, 2014, the maturity of the Cicerone Revolving Note was extended to February 1, 2017 on the same terms and conditions.  The extension was accounted for as a modification.   All previously capitalized debt issuance costs had been fully amortized at the date of the modification and no additional fees were incurred. Cicerone is a stockholder of the Company.

At various times Cicerone advanced funds to or paid operating expenses on behalf of the Company under the Cicerone Revolving Note.  During the three months ended June 30, 2015, advances under the Cicerone Revolving Note were $17,496.  During the three months ended June 30, 2014, advances under the Cicerone Revolving Note were $91,576.  As of June 30, 2015, the outstanding balance of the Cicerone Revolving Note was $616,155.  The Company has not made any interest payments which are payable semi-annually on June 30 and December 31. As of June 30, 2015, accrued and unpaid interest on the Cicerone Revolving Note was $27,176.

Harry McMillan is trustee of the C.E. McMillan Family Trust, which Trust serves as the managing member of Fidare Consulting Group, LLC (“Fidare”) and Cicerone Corporate Development, LLC (“Cicerone”). Mr. McMillan is the Trustee for the benefit of his wife, Christy McMillan and their children, and is also a member of each of Fidare and Cicerone.  Each of these entities, as well as certain beneficiaries of the Trust, own shares of our common stock and therefore, Mr. McMillan and the Trust may be deemed to beneficially own such shares. Each disclaims beneficial ownership of such shares. The Company believes, although the shareholdings received pursuant to the various agreements may not exceed the required thresholds, Mr. McMillan is a related party.

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Note 8 - Stock Options Activity (Details) - USD ($)	3 Months Ended	12 Months Ended
	Jun. 30, 2015	Mar. 31, 2015
Balance: April 1, 2015 (in shares)	308,000	308,000
Balance: April 1, 2015 (in dollars per share)	$ 2.30	$ 2.30
Balance: April 1, 2015	2 years 29 days	2 years 109 days
Balance: April 1, 2015	$ 118,800	$ 102,600
Options exercisable at June 30, 2015 (in shares)	308,000
Options exercisable at June 30, 2015 (in dollars per share)	$ 2.30
Options exercisable at June 30, 2015	2 years 29 days
Options exercisable at June 30, 2015	$ 118,800

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Note 3 - Significant Accounting Policies (Details Textual) - USD ($)	3 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Mr. Richardson [Member]
Deferred Compensation Arrangement with Individual, Common Stock Reserved for Future Issuance	85,623	17,692
Series A Convertible Preferred Stock [Member]
Redeemable Preferred Stock Dividends	$ 18,200
Redeemable Preferred Stock Dividends	$ 18,200	$ 18,200