Quarterly report pursuant to Section 13 or 15(d)

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
9 Months Ended
Dec. 31, 2023
Offsetting Assets [Line Items]  
SCHEDULE OF ESTIMATED USEFUL LIVES

 

Buildings   39 years
Machinery and Equipment   710 years
Vehicles   10 years
Furniture and Fixtures   310 years
SCHEDULE OF REVENUE RECOGNITION

 

   

December 31, 2023

   

December 31, 2022

 
    Three months ended  
   

December 31, 2023

   

December 31, 2022

 
             
Shrimp sales   $ 26,302     $ 97,943  
Technology and equipment services     75,000        
Total revenues   $ 101,302     $ 97,943  

 

   

December 31, 2023

   

December 31, 2022

 
    Nine months ended  
   

December 31, 2023

   

December 31, 2022

 
             
Shrimp sales   $ 115,184     $ 186,004  
Technology and equipment services     250,000        
Total revenues   $ 365,184     $ 186,004  
Promissory Note [Member]  
Offsetting Assets [Line Items]  
SCHEDULE OF RESTRUCTURED AUGUST AND SENIOR NOTES PAYABLE AT FAIR VALUE

 

Restructured August and Senior Notes Payable

 

   

December 31, 2023

   

March 31, 2023

 
Restructured notes payable fair value at beginning of period   $ 23,690,000     $ -  
Reclass of accrued interest     907,634       -  
Fair value of restructured notes payable upon Restructuring Agreement     -       20,847,867  
Change in fair value     2,512,366       2,842,133  
Restructured notes payable fair value at end of period   $ 27,110,000     $ 23,690,000  
Warrant [Member]  
Offsetting Assets [Line Items]  
SUMMARY OF ACTIVITY OF DERIVATIVES AT FAIR VALUE

The following is a summary of activity of Level 3 during the nine months ended December 31, 2023 and the year ended March 31, 2023:

 

Warrant liability

 

   

December 31, 2023

   

March 31, 2023

 
    (unaudited)        
Warrant liability balance at beginning of period   $ 355,000     $ 3,923,000  
Change in fair value     (337,050 )     (3,568,000 )
Balance at end of period   $ 17,950     $ 355,000