Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED BALANCE SHEETS - USD ($)
Mar. 31, 2019
Mar. 31, 2018
Current assets    
Cash $ 137,499 $ 24,280
Notes receivable 1,700 207,200
Inventory 4,200 0
Prepaid expenses 35,286 28,699
Total current assets 178,685 260,179
Fixed assets    
Land 202,293 202,293
Buildings 1,328,161 1,328,161
Machinery and equipment 934,621 929,245
Autos and trucks 14,063 14,063
Furniture and fixtures 22,060 22,060
Accumulated depreciation (1,322,609) (1,292,313)
Fixed assets, net 1,178,589 1,203,509
Other assets    
Construction-in-process 377,504 171,050
Deposits 10,500 10,500
Total other assets 388,004 181,550
Total assets 1,745,278 1,645,238
Current liabilities    
Accounts payable 576,028 528,538
Accrued interest - related parties 295,184 240,377
Other accrued expenses 609,243 497,321
Short-term Promissory Note and Lines of credit 139,418 143,523
Current maturities of bank loan 228,725 7,497
Current maturities of convertible debentures, less debt discount of $511,640 and $691,558 494,451 516,597
Convertible debentures, related party 87,600 87,600
Notes payable - related parties 1,271,162 1,271,162
Derivative liability 157,000 3,455,000
Warrant liability 93,000 277,000
Total current liabilities 3,951,811 7,024,615
Bank loan, less current maturities 0 228,916
Line of credit 650,453 651,453
Convertible debentures, less current maturities 0 0
Total liabilities 4,602,264 7,904,984
Commitments and contingencies (Note 11)
STOCKHOLDERS DEFICIT    
Series A Convertible Preferred stock, $0.0001 par value, 5,000,000 shares authorized, 5,000,000 and 0 shares issued and outstanding at March 31, 2019 and March 31, 2018, respectively 500 0
Common stock, $0.0001 par value, 900,000,000 and 300,000,000 shares authorized, 301,758,293 and 97,656,095 shares issued and outstanding at March 31, 2019 and March 31, 2018, respectively 30,177 9,766
Additional paid in capital 38,335,782 27,743,352
Accumulated deficit (41,223,445) (34,012,864)
Total stockholders' deficit (2,856,986) (6,259,746)
Total liabilities and stockholders' deficit $ 1,745,278 $ 1,645,238