Note 7 - RELATED PARTY TRANSACTIONS

12 Months Ended

Mar. 31, 2016

Disclosure Text Block [Abstract]

Note 7 - Related Party Transactions

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

Pharma has 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.  

Following is a summary of activity between the Company and Pharma and NDM for the years ended March 31, 2016 and 2015.

	Year Ended March 31, 2016 ($)			Year Ended March 31, 2015 ($)
Balance due from Pharma and NDM at beginning of period		192,517			-
Amounts advanced to Pharma		58,197			567,633
Amounts received from  Pharma		(228,361	)		(7,692	)
Reduction in prepayments to Pharma for clinical trials		(247,596	)		(257,441	)
Amounts invoiced by Pharma to DDL and TCL		(331,714	)		(106,193	)
Amounts invoiced by DDL to Pharma		16,307			-
Expenses paid by Pharma on behalf of DDL and TCL		-			134
Intellectual property costs paid by Pharma on behalf of DDL and TCL		-			(946	)
Sale of fixed and intangible assets to Pharma and NDM		17,775			-
Foreign exchange differences		28,763			(2,988	)
Net balance due to  Pharma and NDM at end of the period		(494,112	)		192,517

Advances to Pharma as of March 31, 2015 includes $505,000 advanced in connection with the Company's clinical trials of which approximately $257,000 was expensed during the year. The remaining advances of approximately $248,000 were fully expensed in fiscal 2016, as clinical trials were completed. At March 31, 2015, the net balance due from Pharma was comprised of the remaining clinical trials advances of $248,000, net of $55,000 payable to Pharma for other amounts invoiced during the year.  The balance due to Pharma at March 31, 2016 consists primarily of cash advances received from Pharma of approximately $228,000 during the year ended March 31, 2016 and amounts owed on invoices received from Pharma during the year of approximately $331,000.  These amounts are unsecured, interest free and payable on demand.