Notes Payable

6 Months Ended

Sep. 30, 2015

Debt Disclosure [Abstract]

Notes Payable

6. NOTES PAYABLE

At September 30, 2015 and March 31, 2015, notes payable consisted of the following:

	September 30, 2015		March 31, 2015
Notes payable to shareholders, unsecured, payable at August 31, 2015, and accrues interest at 8% annually	$	65,000	$	65,000
Total notes payable	$	65,000	$	65,000

On September 4, 2013, the Company issued $65,000 promissory notes with warrants to purchase 260,000 shares of the Company’s common stock to third parties. The principal and interest amount are due on August 31, 2015. The notes accrue interest at 8% and are unsecured. In connection with the issuance of the notes, the Company recorded initial debt discount of $44,155 related to the warrants based on the relative fair value of these warrants. As of September 30, 2015, the entire debt discount was fully amortized by the Company. Subsequent to September 30, 2015, the Company agreed to issue 1,743,071 common shares to settle these notes.