Equity

9 Months Ended

Dec. 31, 2021

Equity [Abstract]

Equity

Note 17 - Equity

(A) Common Stock

As at December 31, 2021, the Company had 400,000,000 authorized common shares having a par value of $0.001. The common 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; however, the holder of our preferred stock has super-majority voting rights and has power to elect all of 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 nine months ended December 31, 2021, the Company did not issue common shares:

(B) Preferred Stock

As at December 31, 2021, the Company had 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.