4. STOCKHOLDERS' DEFICIT
|6 Months Ended|
Sep. 30, 2015
|Stockholders' Equity Note [Abstract]|
Between April 1, 2015 and September 30, 2015, NaturalShrimp Incorporated entered into a form of subscription agreement and consummated initial closings of a private placement offering of the Companys common stock (the Offering). For the six months ended September 30, 2015, an aggregate of 2,089,390 shares of common stock had been sold to investors pursuant to the Offering for cash proceeds of $734,749.
During the six months ended September 30, 2015, the Company reached an agreement with certain vendors in which the Company issued 199,103 shares of common stock in full payment of debt of $35,000, accrued interest of $23,927 and recorded a loss on extinguishment of debt of $319,369.
On August 7, 2015, the Company reached an agreement with a professional advisor in which the Company issued 28,571 shares of common stock with a fair value of $49,999. This amount was recorded as stock compensation cost for the three months ended September 30, 2015.
The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.
Reference 1: http://www.xbrl.org/2003/role/presentationRef