SUBSEQUENT EVENTS |
12 Months Ended |
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Mar. 31, 2024 | |
Subsequent Events [Abstract] | |
SUBSEQUENT EVENTS |
NOTE 14 – SUBSEQUENT EVENTS
Subsequent to the year ended March 31, 2024, the Company sold 528,000, at share prices of $ through $ , in relation to the Equity Financing Agreement. shares of common stock at a net amount of approximately $
On April 3, 2024, the Company and the Investor entered into an Exchange Agreement on the January 2023 Note. In the Exchange Agreement the remaining January 2023 Note was partitioned into a $92,700 new promissory note, leaving the original January 2023 Note with an adjusted balance of $221,018. The partitioned note was exchanged for shares of the Company’s common stock. The shares of common stock issued had a fair value of $100,000 based on the market price of the shares of $ on the execution date, resulting in an excess of $7,300 to be recognized as a financing expense.
On April 23, 2024, the Company received a tranche of $100,000 under the SPA for Series G Preferred Stock with a stated value of $120,000. The $20,000 discount will be accreted up to the redemption price over the one-year period until redemption.
On June 12, 2024, the Company received a tranche of $100,000 under the SPA for Series G Preferred Stock with a stated value of $120,000. The $20,000 discount will be accreted up to the redemption price over the one-year period until redemption.
On July 10, 2024, the Company received a tranche of $100,000 under the SPA for Series G Preferred Stock with a stated value of $120,000. The $20,000 discount will be accreted up to the redemption price over the one-year period until redemption.
On July 3, 2024, the Company and the Investor entered into an Exchange Agreement on the Senior Note. In the Exchange Agreement the remaining Senior Note was partitioned into a $90,000 new promissory note, leaving the original Senior Note outstanding balance to be reduced by $90,000. The partitioned note was exchanged for shares of the Company’s common stock. The shares of common stock issued had a fair value of $90,000 based on the market price of the shares of $ on the execution date |