Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED BALANCE SHEETS - USD ($)
Mar. 31, 2016
Mar. 31, 2015
CURRENT ASSETS    
Cash and cash equivalents $ 99,678 $ 402,718
Restricted cash 8,533,566 0
Employee receivables 0 1,300
Prepaid expenses 50,375 483
Total current assets 8,683,619 404,501
NON-CURRENT ASSETS    
Fixed assets, net 5,431 8,537
Total non-current assets 5,431 8,537
TOTAL ASSETS 8,689,050 413,038
CURRENT LIABILITIES    
Accounts payable 50,229 46,632
Accrued payroll and other liabilities 0 4,700
State taxes payable 100 100
Deferred tax liabilities, net 0 180
Deferred distribution payments 8,533,566 0
Total current liabilities 8,583,895 51,612
LONG-TERM LIABILITIES    
Long-term deferred tax liabilities 0 60
Total long-term liabilities 0 60
Total liabilities 8,583,895 51,672
SHAREHOLDERS' EQUITY    
Common stock - $0.001 par value; 500,000,000 shares authorized; 280,339,467 and 224,551,913 shares outstanding as of March 31, 2016 and 2015, respectively 280,340 224,552
Preferred stock - $0.001 par value; 20,000,000 shares authorized; no shares issued or outstanding 0 0
Additional paid in capital 455,448 275,448
Accumulated deficit (630,633) (138,634)
Total shareholders' equity 105,155 361,366
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 8,689,050 $ 413,038