10. Derivative Financial Instruments (Tables)

9 Months Ended

Dec. 31, 2020

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of derivative liabilities

The following tables summarize the components of the Company’s derivative liabilities and linked common shares as of December 31, 2020:

	December 31, 2020
The financings giving rise to derivative financial instruments	Indexed Shares		Fair Values
Compound embedded derivatives		311,625,168	$	(739,574	)
Total		311,625,168	$	(739,574	)

The following tables summarize the components of the Company’s derivative liabilities and linked common shares as of March 31, 2020:

	March 31, 2020
The financings giving rise to derivative financial instruments	Indexed Shares		Fair Values
Compound embedded derivatives		77,027,083	$	(58,790	)
Total		77,027,083	$	(58,790	)

The following table summarizes the effects on the Company’s gain (loss) associated with changes in the fair values of the derivative financial instruments by type of financing for the nine months ended December 31, 2020 and 2019:

	December 31,			December 31,
	2020			2019
Compound embedded derivatives	$	(592,997	)	$	17,360
Day one derivative loss		(125,408	)		–
Total	$	(718,405	)	$	17,360

The following table summarizes the effects on the Company’s gain (loss) associated with changes in the fair values of the derivative financial instruments by type of financing for the three months ended December 31, 2020 and 2019:

	December 31,			December 31,
	2020			2019
Compound embedded derivatives	$	194,410		$	17,360
Day one derivative loss		(125,408	)		–
Total	$	69,002		$	17,360

Significant inputs

Significant inputs and results arising from the Monte Carlo Simulations process are as follows for the embedded derivatives that have been bifurcated from the Convertible Notes and classified in liabilities:

	December 31, 2020
Quoted market price on valuation date	$0.0047
Contractual conversion rate	$0.002 - $0.01
Contractual term to maturity	0.07 Years – 0.99 Years
Market volatility:
Equivalent Volatility	114.91% - 266.31%
Interest rate	8.0%

Schedule of changes in fair value of derivatives

The following table reflects the issuances of compound embedded derivatives and the changes in fair value inputs and assumptions related to the compound embedded derivatives during the period ended December 31, 2020 and March 31, 2020.

	December 31,			March 31,
	2020			2020
Beginning balance	$	58,790		$	–
Issuances:
Compound embedded derivatives		435,723			178,692
Conversions		(472,996	)		–
Day-one derivative loss		125,408			–
Loss (gain) on changes in fair value inputs and assumptions reflected in income		592,649			(119,902	)
Total	$	739,574		$	58,790