Property and Equipment
 12 Months Ended
Mar. 31, 2017
Notes  
Property and Equipment

 

NOTE 3 – FINANCIAL STATEMENT ELEMENTS

 

Loans Receivable – Construction Project

 

In July 2015, the Company loaned $75,000 to an unrelated third party. The loan does not incur interest and is due on demand. The loan is intended to be a short term loan used for a construction project by the borrower. During the year ended March 31, 2017, due to the delays in repayment, the Company reserved 100% of this receivable.

 

On November 9, 2015, the Company loaned $100,000 to an unrelated third party.  The loan incurs interest at 2% per annum and is due upon the earlier of October 31, 2018, or completion by the borrower of one or more projects having an aggregate value of not less than $40 million. The loan is intended to be a short term bridge loan used for working capital for the third party. During the year ended March 31, 2017, the Company reserved 100% of this receivable.

 

Property and Equipment

 

Property and equipment are stated at cost, net of accumulated depreciation, and are comprised of the following at March 31, 2017 and 2016:

 

 

 

March 31, 2017

 

March 31, 2016

Computers and equipment

 

$75,013

 

$41,716

Vehicles

 

11,880

 

22,890

Total

 

86,953

 

64,606

Less: accumulated depreciation

 

(24,324)

 

(60,531)

Net Value

 

$   62,629

 

$   4,075

 

Depreciation expense for the years ended March 31, 2017, and 2016, was $$19,846 and $1,000, respectively.