NOTE 9 – STOCKHOLDERS’ DEFICIT |
12 Months Ended |
|---|---|
Mar. 31, 2025 | |
| Equity [Abstract] | |
| NOTE 9 – STOCKHOLDERS’ DEFICIT | NOTE 9 – STOCKHOLDERS’ DEFICIT
The Company has authorized the issuance of 675,000,000 shares of common stock with a par value of $0.001 per share.
During the years ended March 31, 2025 and 2024, the Company issued 295,000 and 720,000 shares, respectively, to board members and consultants for services rendered. Total stock-based compensation expense was $77,100 and $129,600 during the years ended March 31, 2025 and 2024, respectively, in connection with these issuances based on the fair value of the stock on the respective grant dates.
During the years ended March 31, 2025 and 2024, the Company issued 3,067,105 and 842,000 warrants to board members and consultants for services rendered with a total grant date fair value of $55,562 and $85,132, respectively. Total stock-based compensation expense of $55,562 and $82,098 , respectively, was recorded in connection with these awards during the years ended March 31, 2025 and 2024. The warrants contain an exercise price of $0.33 per share, warrants are issued as services are provided and vest immediately upon issuance. They expire on dates ranging from July 1, 2029 to April 1, 2031.
The warrant fair values were estimated using a Black Scholes model with a 5-year expected term, risk-free interest rate ranging from 4.65% to 5.48%, a dividend yield of 0%, and a volatility of 80.0%. The risk-free interest rate assumptions for options granted is based upon observed interest rates on the United States government securities appropriate for the expected term of the equity awards.
As of the date of this valuation, the Company’s stock was not trading. The volatility was calculated based on the historical volatility of comparable public companies. The Company will continue to monitor peer companies and other relevant factors used to measure expected volatility for future equipment award grants, until such time that the Company’s Common Stock has enough market history to use historical volatility.
The dividend yield assumption for equity awards granted is based on the Company’s history and expectation of dividend payouts. The Company has never declared or paid any cash dividends on its Common Stock, and the Company does not anticipate paying any cash dividends in the foreseeable future.
The closing stock price of the Company’s common stock is not available as the Company’s stock is not trading. As a result, the Board of Directors and management determined the fair value of the common stock to be $0.50 per share based upon an allocation of the recent cash price paid for common stock and warrants during the year ended March 31, 2025.
During the year ended March 31, 2024, the Company issued 343,250 shares of common stock with a par value of $0.001 for the price of one ($1) dollar per share for a total of $343,250. Five warrants were issued for each share purchased, for a total of 1,716,250 warrants. The warrants are exercisable at twenty ($0.20) cents and expire from April 2025 through September 2025.
During the year ended March 31, 2024, the Company issued 50,000 shares of common stock with a par value of $0.001 for the price of one ($1) dollar per share for a total of $50,000. One warrant was issued for each share purchased for a total of 50,000 warrants. The warrants are exercisable at one dollar ($1.00) and expire January 19, 2026.
During the year ended March 31, 2025, the Company issued 2,550,000 shares of common stock with a par value of $0.001 for the price of one ($1.00) dollar per share for a total of $2,550,000 less $250,000 in broker fees. Warrants were issued for each share purchased, for a total of 2,550,000 warrants. The warrants are exercisable at one dollar ($1.00) per share and expire in February 2027.
As of March 31, 2025, 5,675,355 warrants had been issued of which all are vested. None of the warrants have been exercised.
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