v3.20.4

10. Derivative Financial Instruments (Tables)

9 Months Ended

Dec. 31, 2020

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of derivative liabilities

The following tables summarize the components of the Company’s derivative liabilities and linked common shares as of December 31, 2020:

		December 31, 2020
The financings giving rise to derivative financial instruments		Indexed Shares				Fair Values
Compound embedded derivatives			311,625,168			$	(739,574	)
Total			311,625,168			$	(739,574	)

The following tables summarize the components of the Company’s derivative liabilities and linked common shares as of March 31, 2020:

		March 31, 2020
The financings giving rise to derivative financial instruments		Indexed Shares				Fair Values
Compound embedded derivatives			77,027,083			$	(58,790	)
Total			77,027,083			$	(58,790	)

The following table summarizes the effects on the Company’s gain (loss) associated with changes in the fair values of the derivative financial instruments by type of financing for the nine months ended December 31, 2020 and 2019:

		December 31,				December 31,
		2020				2019
Compound embedded derivatives		$	(592,997	)		$	17,360
Day one derivative loss			(125,408	)			–
Total		$	(718,405	)		$	17,360

The following table summarizes the effects on the Company’s gain (loss) associated with changes in the fair values of the derivative financial instruments by type of financing for the three months ended December 31, 2020 and 2019:

		December 31,				December 31,
		2020				2019
Compound embedded derivatives		$	194,410			$	17,360
Day one derivative loss			(125,408	)			–
Total		$	69,002			$	17,360

Significant inputs

Significant inputs and results arising from the Monte Carlo Simulations process are as follows for the embedded derivatives that have been bifurcated from the Convertible Notes and classified in liabilities:

	December 31, 2020
Quoted market price on valuation date	$0.0047
Contractual conversion rate	$0.002 - $0.01
Contractual term to maturity	0.07 Years – 0.99 Years
Market volatility:
Equivalent Volatility	114.91% - 266.31%
Interest rate	8.0%

Schedule of changes in fair value of derivatives

The following table reflects the issuances of compound embedded derivatives and the changes in fair value inputs and assumptions related to the compound embedded derivatives during the period ended December 31, 2020 and March 31, 2020.

		December 31,				March 31,
		2020				2020
Beginning balance		$	58,790			$	–
Issuances:
Compound embedded derivatives			435,723				178,692
Conversions			(472,996	)			–
Day-one derivative loss			125,408				–
Loss (gain) on changes in fair value inputs and assumptions reflected in income			592,649				(119,902	)
Total		$	739,574			$	58,790

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- References

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- Definition

Tabular disclosure of all information related to the key inputs and assumptions (including, at a minimum, but not limited to, and if applicable, quantitative information about discount rates, expected prepayments including the expected weighted-average life of prepayable financial assets, and anticipated credit losses) used in measuring the fair value of assets or liabilities that relate to the transferor's continuing involvement with transferred financial assets, as of the balance sheet date.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 860
-SubTopic 20
-Section 50
-Paragraph 4
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=121570589&loc=d3e107314-111719

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- Definition

Tabular disclosure of the location and amount of derivative instruments and nonderivative instruments designated as hedging instruments reported before netting adjustments, and the amount of gain (loss) on derivative instruments and nonderivative instruments designated and qualified as hedging instruments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4E
-URI http://asc.fasb.org/extlink&oid=121590274&loc=SL5624181-113959

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4A
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=121590274&loc=SL5618551-113959

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4C
-URI http://asc.fasb.org/extlink&oid=121590274&loc=SL5624171-113959

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Tabular disclosure of derivative liabilities at fair value.

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