Note 5 - RELATED PARTY TRANSACTIONS

9 Months Ended

Dec. 31, 2015

Disclosure Text Block [Abstract]

Note 5 - Related Party Transactions

Nemaura Pharma Limited (Pharma) and NDM Technologies Limited (NDM) are entities controlled by the Company’s majority shareholder Dewan FH Chowdhury.

From inception, Pharma invoiced DDL and TCL for research and development services. In addition, certain operating expenses of DDL and TCL were incurred and paid by Pharma and NDM. In accordance with the United States Securities and Exchange Commission (SEC) Staff Accounting Bulletin 55, these financial statements reflect all costs associated with the operations of DDL and TCL. While certain costs incurred by Pharma and NDM are directly attributable to DDL and TCL, other costs were shared between the organizations. In situations where the costs were shared, expense has been allocated between Pharma and NDM and DDL and TCL using a fixed percentage allocation. Management believes the methodologies used are reasonable and that the costs allocated are not materially different from what they would have been had Pharma and NDM been unaffiliated entities. DDL and TCL advanced Pharma certain amounts to cover a portion of the costs. The remaining amounts were contributed to the Company in the form of contributed services.

Following is a summary of activity between the Company and Pharma and NDM for the nine months ended December 31, 2015 (unaudited) and the year ended March 31, 2015: 

	Nine Months Ended December 31, 2015 (unaudited) ($)			Year Ended March 31, 2015 ($)
Balance due from (to) Pharma and NDM at beginning of period		192,505			-
Amounts advanced to Pharma		-			567,633
Amounts received from Pharma		(239,717	)		(7,692	)
Reduction in prepayments to Pharma for clinical trials		(249,459	)		(257,441	)
Amounts invoiced by DDL to Pharma and NDM (sale of assets)		17,755			-
Amounts invoiced by Pharma to DDL and TCL		(226,148	)		(106,193	)
Expenses paid by Pharma on behalf of DDL and TCL		-			134
Intellectual Property costs paid by Pharma on behalf of DDL and TCL		-			(946	)
Foreign exchange differences		19,160			(2,990	)
Balance due from (to) Pharma and NDM at end of the period		(485,904	)		192,505

At December 31, 2015, the net balance due to Pharma is comprised of advances  from Nemaura Pharma and expenses paid by Pharma on behalf of the Company.