• Filing Date: 2016-07-14
  • Form Type: 10-K
  • Description: Annual report
v3.5.0.2
CONSOLIDATED STATEMENTS OF CASH FLOW - USD ($)
12 Months Ended
Mar. 31, 2016
Mar. 31, 2015
CASH FLOWS FROM OPERATING ACTIVITIES    
Net Loss $ (2,151,546) $ (1,630,825)
Adjustments to reconcile net loss to net cash used in operating activities    
Stock based compensation 49,999 304,018
Shares issued for dividends 0 8,550
Interest added to long term debt 0 26,670
Depreciation expense 74,680 82,936
Loss on extinguishment of debt 319,369 0
Changes in operating assets and liabilities:    
Accounts receivable 3,203 (72)
Other Assets 0 (11,000)
Accounts payable 387,047 (14,332)
Other accrued expenses 5,137 (7,379)
Accrued interest - related parties 106,739 40,826
CASH USED IN OPERATING ACTIVITIES (1,205,372) (1,200,608)
CASH FLOWS FROM INVESTING ACTIVITIES    
Cash paid for purchase of fixed assets (35,980) (27,105)
CASH USED IN INVESTING ACTIVITIES (35,980) (27,105)
CASH FLOWS FROM FINANCING ACTIVITIES    
Borrowing on debt 50,000 19,550
Borrowing on Notes payable - related party 134,750 0
Payment of related party notes payable (5,798) (16,000)
Repayment of short-term debt (12,407) (8,421)
Line of credit (1,758) 10,608
Proceeds from sale of stock  pre reverse acquisition 0 911,101
Proceeds from sale of stock post reverse acquisition 861,849 520,000
CASH PROVIDED BY FINANCING ACTIVITIES 1,026,636 1,436,838
NET CHANGE IN CASH (214,716) 209,125
CASH AT BEGINNING OF YEAR 220,874 11,749
CASH AT YEAR END 6,158 220,874
INTEREST PAID DURING YEAR 26,384 76,402
NON-CASH TRANSACTIONS    
Accrued interest settled with debt 23,927 0
Shares issued receivable 0 25,001
Notes payable - related party settled with stock $ 35,000 $ 0