9. Shareholders' Deficit

12 Months Ended

Mar. 31, 2014

Equity

9. Shareholders' Deficit

Note 9. Shareholders’ Deficit

Common Stock

Year Ended March 31, 2013

In April, 2012, the Company issued 1,444,473 common shares in satisfaction of convertible debt.

In April, 2012, the Company issued 649,996 common shares for services.

In May, 2012, the Company issued 3,445,614 common shares in satisfaction of convertible debt.

In June, 2012, the Company issued 1,857,143 common shares in satisfaction of convertible debt.

On June 30, 2012, the Company issued 20,000,000 common shares in conjunction with the sale of all of its interest in the discontinued operations of Triple C Transport, Cross Creek Trucking and Integrated Freight Services.

On August 3, 2012, the Company issued 10,000,000 common shares to Fuselier Consulting in accordance with the terms of a consulting contract.  The stock was valued at $.002, its fair market value at the date of issuance.

In August, 2012, the Company issued 5,000,000 common shares to Jackson Morris for services.  The stock was valued at $.002 per share, its fair market value at the date of issuance.

In October, 2012, the Company issued 30,247,500 common shares for services.  The stock was valued at $.005 per share, its fair market value at the date of issuance.

Year Ended March 31, 2014

In August, 2013, the Company issued 5,000,000 common shares for services at $0.0199 per share.

In October, 2013, the Company issued 5,606,061 common shares for services at $0.004 per share.

In December, 2013, the Company issued 60,000,000 common shares for accrued compensation to Officers of the Company.  The shares were valued using a volume weighted average price of $.0039 per share.

In February, 2014, the Company issued 73,407,828 common shares for accrued compensation to Officers of the Company.  The shares were valued using a volume weighted average price of $.0075 per share.

Warrants to Purchase Common Stock

The Company did not issue any new warrants to purchase Common Stock during the fiscal years ended March 31, 2014 and 2013.

The fair value for the warrants was estimated at the date of valuation using the Black-Scholes option-pricing model with the following assumptions:

Risk-free interest rate		1.27- 2.19	%
Dividend yield		0.00	%
Volatility factor		172	%
Expected life	3-5 years

The relative fair value of warrants issued is calculated in accordance with ASC 470-20, Debt with Conversion and Other Options.

A summary of the warrant balances outstanding for the year ended March 31, 2014 and 2013 is presented below:

	Stock Awards		Average		Remaining
	Outstanding		Exercise		Contractual
	& Exercisable		Price		Term
Balance, April 1, 2012		14,394,890	$	0.23	2 years
Granted		-		0.00
Exercised		-		0.0
Expired/Cancelled		1,087,500		0.0		N/A
Balance, March 31, 2013		13,307,390	$	0.23	2 years
Granted		-		0.0	-
Exercised		-		0.0	-
Expired/Cancelled		360,000		0		N/A
Balance, March 31, 2014		12,947,390	$	0.23	2 years

As of March 31, 2014 and 2013, the number of warrants that were currently vested and expected to become vested was 12,947,390 and 13,307,390, respectively.