XML 105 R15.htm IDEA: XBRL DOCUMENT v3.3.0.814
Note Payable
6 Months Ended
Sep. 30, 2015
Debt Disclosure [Abstract]  
Note Payable

10. NOTE PAYABLE

 

On July 7, 2014, the Company issued a $103,000 note to a service provider to settle $219,673 accrued expenses previously recorded. $116,673 was recorded as gain on settlement of debt in the consolidated statements of operations. The note bears no interest. Principal of $4,000 was due on the date of the note; $15,000 was due on the date of receipt by the Company of the proceeds of the note issued to 31 Group, LLC on July 29, 2014; $3,500 each due on the first day of each calendar month commencing August 1, 2014 and any remaining unpaid balance is due on July 1, 2016. As of September 30, 2015, $38,500 was still outstanding all of which is due and payable in the next twelve months. The note is currently on default as the Company did not make the scheduled payments.