PAYCHECK PROTECTION PROGRAM LOAN AND CONVERTIBLE PROMISSORY NOTES

12 Months Ended

Mar. 31, 2022

Debt Disclosure Abstract

PAYCHECK PROTECTION PROGRAM LOAN AND CONVERTIBLE PROMISSORY NOTES [Text Block]

NOTE 5 - PAYCHECK PROTECTION PROGRAM LOAN

On April 29, 2020, Alkaline 88, LLC (the "Borrower"), a wholly owned subsidiary of the Company, signed a promissory note with MidFirst Bank (the "Lender") in the amount of $325,800, pursuant to the Paycheck Protection Program (the "PPP") under Division A, Title I of the CARES Act, which was enacted March 27, 2020.

As of October 14, 2021, the Company's loan under the Paycheck Protection Program ("PPP") was forgiven as authorized by Section 1106 of the CARES Act. The outstanding principal balance of $325,800 along with accrued interest of $4,751 totaling $330,551 was forgiven.