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NOTE PAYABLE - RELATED PARTY
6 Months Ended
Sep. 30, 2023
Debt Disclosure [Abstract]  
NOTE PAYABLE - RELATED PARTY

NOTE 4 – NOTE PAYABLE – RELATED PARTY

 

On April 26, 2016, we entered into a note payable with Philip Liu, our CEO, whereby he converted amounts owed of $1,565,169. On February 15, 2018, Mr. Liu converted $303,266 of the note into 4,332,374 shares of common stock which was considered the fair market value. $2,492,918 is owed under the note as of September 30, 2023. The note has an interest rate of 10% which is compounded quarterly is in default.

 

On April 26, 2016, we entered into a note payable with Eric Stoppenhagen, our CFO, whereby he converted amounts owed of $411,214. On February 15, 2018, Mr. Stoppenhagen converted $91,950 of the note into 1,313,556 shares of common stock which was considered the fair market value. $695,392 is owed under the note as of September 30, 2023. The note has an interest rate of 10% which is compounded quarterly is in default.