Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED BALANCE SHEETS - USD ($)
Mar. 31, 2018
Mar. 31, 2017
CURRENT    
Cash and cash equivalents $ 24,280 $ 88,195
Notes receivable 207,200 0
Prepaid expenses 28,699 224,000
Total current assets 260,179 312,195
Fixed assets    
Land 202,293 202,293
Buildings 1,328,161 1,328,161
Machinery and equipment 929,245 929,214
Autos and trucks 14,063 14,063
Furniture and fixtures 22,060 22,060
Accumulated depreciation (1,292,313) (1,221,419)
Fixed assets, net 1,203,509 1,274,372
Other assets    
Construction-in-process 171,050 0
Deposits 10,500 10,500
Total other assets 181,550 10,500
Total assets 1,645,238 1,597,067
CURRENT    
Accounts Payable 528,538 505,033
Accrued interest - related parties 240,377 178,922
Other accrued expenses 497,321 317,499
Short-term Promissory Note and Lines of credit 143,523 145,964
Current maturities of bank loan 7,497 7,310
Current maturities of convertible debentures, less debt discount of$ 691,558 516,597 0
Convertible debentures, related party 87,600 0
Notes payable - related parties 1,271,162 1,296,162
Derivative liability 3,455,000 218,000
Warrant liability 277,000 28,000
Total current liabilities 7,024,615 2,696,890
Bank loan, less current maturities 228,916 235,690
Line of credit 651,453 651,498
Convertible debentures, less current maturities 0 50,000
Total liabilities 7,904,984 3,634,078
Commitments and contingencies (Note 10)
STOCKHOLDERS DEFICIT    
Common stock, $0.0001 par value, 300,000,000 shares authorized 97,656,095 and 92,408,298 shares issued and outstanding at March 31, 2018 and March 31, 2017, respectively 9,766 9,242
Additional Paid In Capital 27,743,352 26,681,521
Accumulated deficit (34,012,864) (28,727,774)
Total stockholders' deficit (6,259,746) (2,037,011)
Total liabilities and stockholders' deficiency $ 1,645,238 $ 1,597,067