9. Convertible Note Payable (Tables)

9 Months Ended

Dec. 31, 2020

Debt Disclosure [Abstract]

Convertible note payable

The following is a summary of convertible notes payable as of December 31, 2020:

Note*	Inception Date	Maturity	Coupon	Face Value		Unamortized Discount		Carrying Value
Note 3	12/5/2019	12/5/2020	8%	$	62,000	$	–	$	62,000
Note 4	12/31/2019	12/31/2020	8%		62,000		–		62,000
Note 5	1/27/2020	1/27/2021	8%		184,000		2,840		181,160
Note 6	2/19/2020	2/19/2021	8%		78,000		3,151		74,849
Note 7	3/10/2020	3/10/2021	8%		78,000		3,894		74,106
Note 8	8/4/2020	8/4/2021	8%		156,000		34,266		121,734
Note 9	10/2/2020	10/2/2021	8%		205,000		93,004		111,996
Note 10	10/15/2020	10/15/2021	8%		172,000		61,621		110,379
Note 11	11/2/2020	11/2/2021	8%		69,000		28,264		40,736
Note 12	11/12/2020	11/12/2021	8%		69,000		18,953		50,047
Note 13	12/1/2020	12/1/2021	8%		107,500		94,476		13,024
Note 14	12/10/2020	12/10/2021	8%		80,000		31,896		48,104
Note 15	12/29/2020	12/29/2021	8%		55,650		48,908		6,742
				$	1,378,150	$	421,273	$	956,877

* Note 1 and Note2 in the amounts of $82,000 and $208,000 was fully converted as of December 31, 2020.

Allocation of cash proceeds

Based on the previous conclusions, the Company allocated the cash proceeds first to the derivative components at its fair value with the residual allocated to the host debt contract, as follows:

	Note 1		Note 2		Note 3		Note 4		Note 5		Note 6		Note 7		Note 8
Compound embedded derivative	$	26,395	$	68,030	$	15,893	$	10,812	$	25,834	$	14,095	$	17,636	$	42,463
Convertible notes payable		48,605		133,970		44,107		49,188		152,666		60,905		57,364		107,537
Original issue discount		7,000		6,000		2,000		2,000		5,500		3,000		3,000		6,000
Face value	$	82,000	$	208,000	$	62,000	$	62,000	$	184,000	$	78,000	$	78,000	$	156,000

	Note 9		Note 10		Note 11		Note 12		Note 13			Note 14		Note 15
Compound embedded derivative	$	103,445	$	63,992	$	28,339	$	18,066	$	209,545		$	29,070	$	65,863
Convertible notes payable		91,555		101,008		36,661		46,934		–			45,930		–
Day one derivative loss		–		–		–		–		(109,545	)		–		(15,863	)
Legal fees		–		–		–		–		3,500			–		3,500
Original issue discount		10,000		7,000		4,000		4,000		4,000			5,000		2,150
Face value	$	205,000	$	172,000	$	69,000	$	69,000	$	107,500		$	80,000	$	55,650

Amortization expense, interest expense and accrued interest

Amortization expense and interest expense for the nine months ended December 31, 2020 is as follows:

Note	Interest Expense		Accrued Interest		Amortization of Debt Discount		Unamortized
Note 1	$	2,696	$	–	$	28,186	$	–
Note 2		8,342				53,298		–
Note 3		3,737		5,327		13,021		–
Note 4		3,737		4,974		9,180		–
Note 5		11,090		13,671		23,669		2,840
Note 6		4,701		5,402		12,675		3,151
Note 7		4,701		5,060		15,254		3,894
Note 8		5,095		5,095		14,197		34,266
Note 9		4,044		4,044		20,440		93,004
Note 10		2,903		2,903		9,370		61,621
Note 11		892		892		4,075		28,264
Note 12		741		741		3,113		18,953
Note 13		707		707		2,274		94,476
Note 14		368		368		2,174		31,896
Note 15		366		366		1,177		48,908
	$	54,120	$	49,550	$	212,103	$	421,273