Quarterly report pursuant to Section 13 or 15(d)

4. STOCKHOLDERS' DEFICIT

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4. STOCKHOLDERS' DEFICIT
9 Months Ended
Dec. 31, 2015
Stockholders' Equity Note [Abstract]  
STOCKHOLDERS' DEFICIT

NOTE 4 – STOCKHOLDERS’ DEFICIT

 

Common Stock

 

Between April 1, 2015 and December 31, 2015, the Company entered into subscription agreements and consummated initial closings of a private placement offering of the Company’s common stock (the “Offering”).  For the nine months ended December 31, 2015, an aggregate of 2,379,672 shares of common stock had been sold to investors pursuant to the Offering for cash proceeds of $856,749.

 

During the nine months ended December 31, 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 nine months ended December 31, 2015.