Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED BALANCE SHEETS

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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
Dec. 31, 2017
Mar. 31, 2017
Current assets    
Cash and cash equivalents $ 15,715 $ 88,195
Notes receivable 131,200 0
Prepaid expenses 131,552 224,000
Total current assets 278,467 312,195
Fixed assets    
Land 202,293 202,293
Buildings 1,328,161 1,328,161
Machinery and equipment 929,214 929,214
Autos and trucks 14,063 14,063
Furniture and fixtures 22,060 22,060
Accumulated depreciation (1,274,589) (1,221,419)
Fixed assets, net 1,221,202 1,274,372
Other assets    
Deposits 10,500 10,500
Total other assets 10,500 10,500
Total assets 1,510,169 1,597,067
Current liabilities    
Accounts payable 539,653 505,033
Accrued interest - related parties 215,568 178,922
Other accrued expenses 426,345 317,499
Short-term promissory note and lines of credit 794,976 145,964
Current maturities of bank loan 7,497 7,310
Current maturities of convertible debentures, less debt discount of $346,770 187,463 0
Convertible debentures, related party, less debt discount of $8,000 97,000 0
Notes payable - related parties 1,271,162 1,296,162
Derivative liability 1,532,000 218,000
Warrant liability 463,000 28,000
Total current liabilities 5,534,664 2,696,890
Bank loan, less current maturities 230,819 235,690
Lines of credit 0 651,498
Convertible debentures, less debt discount of $68,750 0 50,000
Total liabilities 5,765,483 3,634,078
Commitments and contingencies (Note 11)
Stockholders' deficit    
Preferred stock, $0.0001 par value, 200,000,000 shares authorized, 0 and 0 shares issued and outstanding at December 31, 2017 and March 31, 2017, respectively 0 0
Common stock, $0.0001 par value, 300,000,000 shares authorized, 95,416,339 and 92,408,298 shares issued and outstanding at December 31, 2017 and March 31, 2017, respectively 9,542 9,242
Additional paid in capital 27,499,722 26,681,521
Accumulated deficit (31,764,578) (28,727,774)
Total stockholders' deficit (4,255,314) (2,037,011)
Total liabilities and stockholders' deficit $ 1,510,169 $ 1,597,067