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Notes Payable - Related Party
6 Months Ended
Sep. 30, 2019
Related Party Transactions [Abstract]  
Notes Payable - Related Party

NOTE 9 – NOTES PAYABLE – RELATED PARTY

 

At September 30, 2019 and March 31, 2019 the Company was obligated for a related party note payable and accrued interest in the total amount of $68,090 and $85,752, respectively; the maturity date of this note is April 30, 2020. The related party note payable terms are accrual of interest at 8% annually with payments of $3,100 per month, which are applied to interest first, then principal. The terms also include a stipulation that if the Company receives additional financing during any 24-month period from the date of the note in the amount greater than $3,500,000, the Company will immediately pay the officer the principal amount of the note along with all interest due.