Accounts Payable

9 Months Ended

Dec. 31, 2021

Payables and Accruals [Abstract]

Accounts Payable

Note 9 – Accounts Payable

Following is a summary of accounts payable as at December 31, 2021 and March 31, 2021:

	December 31, 2021		March 31, 2021
Accounts payable- employees	$	256,236	$	247,111
Supplier payable		116,626		113,051
Promissory notes		65,000		-
Canagey Capital (Pvt) Ltd		64,772		65,061
Other supplier payable		61,092		61,364
EPSI Computers (Pvt) Ltd		29,462		29,593
Due to Guha Takurta		13,957		25,207
Rent deposit		379		380
	$	607,524	$	541,766

On July 14, 2021, the Company has issued promissory notes for the sum of $65,000 to Geneva Roth Remark Holdings Inc., a New York corporation. The said promissory notes bear an interest rate of 10% per annum and default interest of 22% on any unpaid capital or interest which is not paid when due on July 14, 2022.

Conversion right on promissory notes: The holder has right to convert the outstanding amount in to Common shares at any time during the period beginning on the date which is one hundred eighty (180) days following the date of issue and ending either on the maturity date or the date of the payment of the default amount.

Conversion price: The conversion price shall equal the variable conversion price. The “variable conversion price” shall mean 65% of the market price (representing a discount rate of 35%). “Market price” means the lowest trading price for the common stock during the twenty (20) trading day period ending on the latest complete trading day prior to the conversion date. The Company has made necessary provisions in the financials.