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DERIVATIVE FINANCIAL INSTRUMENTS | 6 Months Ended
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Sep. 30, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
DERIVATIVE FINANCIAL INSTRUMENTS | NOTE 10 –DERIVATIVE FINANCIAL INSTRUMENTS The following tables summarize the components of the Company’s derivative liabilities and linked common shares as of September 30, 2021:
Schedule of derivative liabilities |  |  |  |  |  |  |  |
|  | September 30, 2021 |
The financings giving rise to derivative financial instruments |  | Indexed Shares |  |  | Fair Values |
Compound embedded derivatives |  |  | 810,258,880 |  |  | $ | (1,762,774 | )
Total |  |  | 810,258,880 |  |  | $ | (1,762,774 | )
The following tables summarize the components of the Company’s derivative liabilities and linked common shares as of September 30, 2020:
|  | September 30, 2020 |
The financings giving rise to derivative financial instruments |  | Indexed Shares |  |  | Fair Values |
Compound embedded derivatives |  |  | 183,301,607 |  |  | $ | (599,454 | )
Total |  |  | 183,301,607 |  |  | $ | (599,454 | )
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 September 30, 2021 and 2020:
The financings giving rise to derivative financial instruments and the income effects: |  | September 30, 2021 |  |  | September 30, 2020 |
Compound embedded derivatives |  | $ | (354,942 | ) |  | $ | (511,975 | )
Total (loss) |  | $ | (354,942 | ) |  | $ | (511,975 | )
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 six months ended September 30, 2021 and 2020:
The financings giving rise to derivative financial instruments and the income effects: |  | September 30, 2021 |  |  | September 30, 2020 |
Compound embedded derivatives |  | $ | (665,813 | ) |  | $ | (787,407 | )
Total (loss) |  | $ | (665,813 | ) |  | $ | (787,407 | )
The Company’s Convertible Promissory Notes issued between October 4, 2019 and September 30, 2021 gave rise to derivative financial instruments. The notes embodied certain terms and conditions that were not clearly and closely related to the host debt agreement in terms of economic risks and characteristics. These terms and features consist of the embedded conversion option. Current accounting principles that are provided in ASC 815 - Derivatives and Hedging require derivative financial instruments to be classified in liabilities and carried at fair value with changes recorded in income. In addition, the standards do not permit an issuer to account separately for individual derivative terms and features embedded in hybrid financial instruments that require bifurcation and liability classification as derivative financial instruments. Rather, such terms and features must be bundled together and fair valued as a single, compound embedded derivative. The Company has selected the Monte Carlo Simulations valuation technique to fair value the compound embedded derivative because it believes that this technique is reflective of all significant assumption types, and ranges of assumption inputs, that market participants would likely consider in transactions involving compound embedded derivatives. Such assumptions include, among other inputs, interest risk assumptions, credit risk assumptions and redemption behaviors in addition to traditional inputs for option models such as market trading volatility and risk-free rates. The Monte Carlo Simulations technique is a level three valuation technique because it requires the development of significant internal assumptions in addition to observable market indicators. 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:
Significant inputs |  |
| September 30, 2021 |
Quoted market price on valuation date | $0.01 |
Contractual conversion rate | $0.00265-$0.01 |
Contractual term to maturity | 0.005 Years – 1.0 Years |
Market volatility: |  |
Equivalent Volatility | 93.44% - 184.40% |
Interest rate | 8.00% |
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 September 30, 2021 and March 31, 2021.
Schedule of changes in fair value of derivatives |  |  |  |  |  |  |  |
|  | September 30, |  |  | March 31, |
|  | 2021 |  |  | 2021 |
Beginning balance |  | $ | 1,137,623 |  |  | $ | 58,790 |
Issuances: |  |  |  |  |  |  |  |
Compound embedded derivatives |  |  | 407,194 |  |  |  | 732,416 |
Conversions |  |  | – |  |  |  | (859,352 | )
Derivative extinguished / debt repaid in cash |  |  | (136,666 | ) |  |  | (126,892 | )
(Gain) loss on changes in fair value inputs and assumptions reflected in income |  |  | 354,942 |  |  |  | 1,332,661 |
Total |  | $ | 1,763,093 |  |  | $ | 1,137,623 |

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- Definition The entire disclosure for derivative instruments and hedging activities including, but not limited to, risk management strategies, non-hedging derivative instruments, assets, liabilities, revenue and expenses, and methodologies and assumptions used in determining the amounts. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -URI http://asc.fasb.org/topic&trid=2229140 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 40 -Section 50 -Paragraph 5 -Subparagraph (f) -URI http://asc.fasb.org/extlink&oid=123477628&loc=d3e90205-114008 + Details
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