Convertible Promissory Notes and Short Term Loans	12 Months Ended
Mar. 31, 2020
Debt Disclosure [Abstract]
Convertible Promissory Notes and Short Term Loans	5. CONVERTIBLE PROMISSORY NOTES AND SHORT TERM LOANS During the year ended March 31, 2019, the Company issued $867,699 in promissory notes to certain of its accredited investors. These are notes with a 1-year term at an interest rate of 10%, with allowance for the Company to repay early with no penalty, or the ability to convert into equity in the future, but only on mutual consent. The Company raised an additional $3,094,820 in promissory notes and short term loans during the year ended March 31, 2020. The promissory notes are generally for a 1-year term at interest rates of between 10%, and 12% with allowance for the Company to repay early, and the possibility to convert into equity on the basis of mutual consent. Pursuant to certain promissory notes issuance, warrants to purchase the Company’s shares of common stock were granted, and the Company has determined the fair value of those warrants and bifurcated $92,416 from the proceeds received during the year ended March 31, 2020 with a credit to additional paid-in capital (Note 7). For the year then ended, accretion of interest in the amount of $92,416 was charged to the statement of operations. During the year ended March 31, 2020, $1,830,000 of the promissory notes that had previously been issued for cash proceeds were converted in the Company’s Series A Preferred Stock (Note 7). Management has evaluated the terms of these notes in accordance with the guidance provided by ASC 470 and ASC 815 and concluded that there is no derivative or beneficial conversion feature attached to these notes. General and administrative expenses include interest expense on the above notes of $263,779 and $11,669 for the year ended March 31, 2020 and 2019, respectively.

Convertible Promissory Notes and Short Term Loans

12 Months Ended

Mar. 31, 2020

Convertible Promissory Notes and Short Term Loans

5. CONVERTIBLE PROMISSORY NOTES AND SHORT TERM LOANS

During the year ended March 31, 2019, the Company issued $867,699 in promissory notes to certain of its accredited investors. These are notes with a 1-year term at an interest rate of 10%, with allowance for the Company to repay early with no penalty, or the ability to convert into equity in the future, but only on mutual consent. The Company raised an additional $3,094,820 in promissory notes and short term loans during the year ended March 31, 2020. The promissory notes are generally for a 1-year term at interest rates of between 10%, and 12% with allowance for the Company to repay early, and the possibility to convert into equity on the basis of mutual consent. Pursuant to certain promissory notes issuance, warrants to purchase the Company’s shares of common stock were granted, and the Company has determined the fair value of those warrants and bifurcated $92,416 from the proceeds received during the year ended March 31, 2020 with a credit to additional paid-in capital (Note 7). For the year then ended, accretion of interest in the amount of $92,416 was charged to the statement of operations.

During the year ended March 31, 2020, $1,830,000 of the promissory notes that had previously been issued for cash proceeds were converted in the Company’s Series A Preferred Stock (Note 7).

Management has evaluated the terms of these notes in accordance with the guidance provided by ASC 470 and ASC 815 and concluded that there is no derivative or beneficial conversion feature attached to these notes.

General and administrative expenses include interest expense on the above notes of $263,779 and $11,669 for the year ended March 31, 2020 and 2019, respectively.