Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED BALANCE SHEETS

v3.10.0.1
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
Sep. 30, 2018
Mar. 31, 2018
Current assets    
Cash and cash equivalents $ 4,875 $ 24,280
Notes receivable 181,200 207,200
Inventory 4,200 0
Prepaid expenses 33,323 28,699
Total current assets 223,599 260,179
Fixed assets    
Land 202,293 202,293
Buildings 1,328,161 1,328,161
Machinery and equipment 934,595 929,245
Autos and trucks 14,063 14,063
Furniture and fixtures 22,060 22,060
Accumulated depreciation (1,327,758) (1,292,313)
Fixed assets, net 1,173,414 1,203,509
Other assets    
Intercompany 0 0
Construction-in-process 247,477 171,050
Deposits 10,500 10,500
Total other assets 257,977 181,550
Total assets 1,654,990 1,645,238
Current liabilities    
Accounts payable 581,229 528,538
Accrued interest - related parties 286,331 240,377
Other accrued expenses 555,571 497,321
Short-term Promissory Note and Lines of credit 793,732 143,523
Current maturities of bank loan 7,687 7,497
Convertible debentures, less debt discount of$ 691,558 577,254 516,597
Convertible debentures, related party, less debt discount of $8,000 87,600 87,600
Notes payable - related parties 1,271,162 1,271,162
Derivative liability 2,110,500 3,455,000
Warrant liability 174,000 277,000
Total current liabilities 6,445,066 7,024,615
Bank loan, less current maturities 224,978 228,916
Lines of credit 0 651,453
Total liabilities 6,670,044 7,904,984
Commitments and contingencies (Note 9)
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 September 30, 2018 and March 31, 2018, respectively 500 0
Common stock, $0.0001 par value, 300,000,000 shares authorized 135,763,799 and 97,656,095 shares issued and outstanding at June 30, 2018 and March 31, 2018, respectively 10,094 9,766
Additional paid in capital 30,345,848 27,743,352
Accumulated deficit (35,371,496) (34,012,864)
Total stockholders' deficit (5,015,054) (6,259,746)
Total liabilities and stockholders' deficit $ 1,654,990 $ 1,645,238