Equity

12 Months Ended

Mar. 31, 2017

Equity [Abstract]

Equity

Note 17 - Equity

(A) Common Stock

As at March 31, 2017, the Company has 90,000,000 authorized common shares having a par value of $0.001. The ordinary shares have been designated with the following rights:

● Voting rights: Common shareholders can attend at annual general meeting to cast vote or use a proxy.

● Right to elect board of directors: Common shareholders control the Company through their right to elect the company’s board of directors.

● Right to share income and assets: Common shareholders have the right to share company’s earnings equally on a per-share basis in the form of dividend. Similarly, in the event of liquidation, shareholders have claim on assets that remain after meeting the obligation to accrued taxes, accrued salary and wages, creditors including bondholders (if any) and preferred shareholders. Thus, common shareholders are residual claimants of the company’s income and assets.

During the year ended March 31, 2017, the Company issued following common shares:

Date	Type	No. of Shares		Valuation
04/22/2016	Stock issued to PPM-2 investor		188,000	$	141,000
04/22/2016	Stock issued to PPM-2 investor		13,334		10,001
04/27/2016	Stock issued for services		46,133		34,600
04/27/2016	Stock issued for services		240,000		180,000
04/27/2016	Stock issued as payment for accrued interest		20,000		15,000
			507,467	$	380,600

(B) Preferred Stock

As at March 31, 2017, the Company has 10,000,000 authorized series “A” preferred shares having a par value of $0.001 per share.

The preferred shares have been designated with the following conversion rights:

● One preferred share will convert into ten (10) common shares no earlier than 24 months and 1 day after the issuance.