v3.22.2.2

SUBSEQUENT EVENTS | 12 Months Ended
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Mar. 31, 2022
Subsequent Events [Abstract] |
SUBSEQUENT EVENTS | NOTE 14 - SUBSEQUENT EVENTS Convertible Promissory Notes On April 1, 2022, the Company entered into an Agreement with GS Capital Partners pursuant to which the Company issued to GS Capital Partners a Promissory Note in the aggregate principal amount of $270,480. The Note has a maturity date of April 1, 2023, and the Company has agreed to pay interest on the unpaid principal balance of the note at the rate of (8%) per annum from the date on which the note is issued until the same becomes due and payable, whether at maturity or upon acceleration or by prepayment or otherwise. The Company shall have the right to prepay the note, provided it makes a payment to GS Capital as set forth in the note. Note 27 in the amount of $108,371 was paid in cash on April 4, 2022. The Company recognized a gain on extinguishment of debt in the amount of $77,914. On April 4, 2022, the Company entered into an Agreement with Sixth Street Lending pursuant to which the Company issued to GS Capital Partners a Promissory Note in the aggregate principal amount of $92,040. The Note has a maturity date of April 4, 2023, and the Company has agreed to pay interest on the unpaid principal balance of the note at the rate of (8%) per annum from the date on which the note is issued until the same becomes due and payable, whether at maturity or upon acceleration or by prepayment or otherwise. The Company shall have the right to prepay the note, provided it makes a payment to GS Capital as set forth in the note. On April 15, 2022, the Company entered into an Agreement with GS Capital Partners pursuant to which the Company issued to GS Capital Partners a Promissory Note in the aggregate principal amount of $270,480. The Note has a maturity date of April 15, 2023, and the Company has agreed to pay interest on the unpaid principal balance of the note at the rate of (8%) per annum from the date on which the note is issued until the same becomes due and payable, whether at maturity or upon acceleration or by prepayment or otherwise. The Company shall have the right to prepay the note, provided it makes a payment to GS Capital as set forth in the note. On April 29, 2022, the Company entered into an Agreement with GS Capital Partners pursuant to which the Company issued to GS Capital Partners a Promissory Note in the aggregate principal amount of $270,480. The Note has a maturity date of April 29, 2023, and the Company has agreed to pay interest on the unpaid principal balance of the note at the rate of (8%) per annum from the date on which the note is issued until the same becomes due and payable, whether at maturity or upon acceleration or by prepayment or otherwise. The Company shall have the right to prepay the note, provided it makes a payment to GS Capital as set forth in the note. On May 4, 2022, the Company entered into an Agreement with 1800 Diagonal Lending pursuant to which the Company issued to GS Capital Partners a Promissory Note in the aggregate principal amount of $66,100. The Note has a maturity date of May 4, 2023, and the Company has agreed to pay interest on the unpaid principal balance of the note at the rate of (8%) per annum from the date on which the note is issued until the same becomes due and payable, whether at maturity or upon acceleration or by prepayment or otherwise. The Company shall have the right to prepay the note, provided it makes a payment to GS Capital as set forth in the note. On May 31, 2022, the Company entered into an Agreement with GS Capital Partners pursuant to which the Company issued to GS Capital Partners a Promissory Note in the aggregate principal amount of $135,240. The Note has a maturity date of May 31, 2023, and the Company has agreed to pay interest on the unpaid principal balance of the note at the rate of (8%) per annum from the date on which the note is issued until the same becomes due and payable, whether at maturity or upon acceleration or by prepayment or otherwise. The Company shall have the right to prepay the note, provided it makes a payment to GS Capital as set forth in the note. On May 31,2022, the Company entered into an Agreement with Mast Hill pursuant to which the Company issued to GS Capital Partners a Promissory Note in the aggregate principal amount of $160,000. The Note has a maturity date of May 31, 2023, and the Company has agreed to pay interest on the unpaid principal balance of the note at the rate of (8%) per annum from the date on which the note is issued until the same becomes due and payable, whether at maturity or upon acceleration or by prepayment or otherwise. The Company shall have the right to prepay the note, provided it makes a payment to GS Capital as set forth in the note. Notes Payable On June 8, 2022, the Company entered into an Agreement with GS Capital Partners pursuant to which the Company issued to GS Capital Partners a Promissory Note in the aggregate principal amount of $77,000. The Note has a maturity date of June 8, 2023, and the Company has agreed to principal payments that shall be made in ten (10) installments each in the amount of $8,316 commencing on the ninetieth (90th) day anniversary following the issue date and continuing thereafter each thirty (30) days for ten (10) months. On June 17, 2022, the Company entered into an Agreement with GS Capital Partners pursuant to which the Company issued to GS Capital Partners a Promissory Note in the aggregate principal amount of $88,000. The Note has a maturity date of June 17, 2023, and the Company has agreed to principal payments that shall be made in ten (10) installments each in the amount of $9,504 commencing on the ninetieth (90th) day anniversary following the issue date and continuing thereafter each thirty (30) days for ten (10) months. On July 7, 2022, the Company entered into an Agreement with GS Capital Partners pursuant to which the Company issued to GS Capital Partners a Promissory Note in the aggregate principal amount of $483,000. The Note has a maturity date of July 7, 2023, and the Company has agreed to pay interest on the unpaid principal balance of the note at the rate of (8%) per annum from the date on which the note is issued until the same becomes due and payable, whether at maturity or upon acceleration or by prepayment or otherwise. The Company shall have the right to prepay the note, provided it makes a payment to GS Capital as set forth in the note. On August 26, 2022, the Company entered into an Agreement with GS Capital Partners pursuant to which the Company issued to GS Capital Partners a Promissory Note in the aggregate principal amount of $66,000. The Note has a maturity date of August 26, 2023, and the Company has agreed principal payments that shall be made in ten (10) installments each in the amount of $7,128 commencing on the ninetieth (90th) day anniversary following the issue date and continuing thereafter each thirty (30) days for ten (10) months. Common Stock On April 14, 2022, the Company issued 35,873,156 shares of stock to GS Capital in exchange for the conversion of $40,000 of principal and $6,707 of accrued interest related to convertible notes payable. On April 28, 2022, the Company issued 20,000,000 shares of stock to Sixth Street Lending, LLC in exchange for the conversion of $20,000 of principal related to convertible notes payable. On May 5, 2022, the Company issued 37,631,579 shares of stock to Sixth Street Lending, LLC in exchange for the conversion of $26,800 of principal and $1,800 of accrued interest related to convertible notes payable. On May 10, 2022, the Company issued 42,813,737 shares of stock to GS Capital in exchange for the conversion of $26,000 of principal and $3,670 of accrued interest related to convertible notes payable. On May 10, 2022, the Board of Directors, by way of unanimous written consent, and the stockholders, by way of non-unanimous majority written consent action (in lieu of a special meeting of stockholders), approved an amendment to the Company’s Certificate of Incorporation to increase of the authorized shares of Common Stock (the “Increase of Authorized Stock”) from 5,000,000,000 to 20,000,000,000, par value $0.00001 per share (the “Amendment”). The Company filed the Amendment with the Delaware Secretary of State and requested an effective date of June 16, 2022 for the Increase of Authorized Stock. On May 26, 2022, the Company issued 47,230,793 shares of stock to GS Capital in exchange for the conversion of $13,000 of principal and $1,678 of accrued interest related to convertible notes payable. On June 7, 2022, the Company issued 64,261,540 shares of stock to GS Capital in exchange for the conversion of $20,000 of principal and $2,941 of accrued interest related to convertible notes payable. On August, 2022, the Company issued 73,803,875 shares of stock to GS Capital in exchange for the conversion of $20,000 of principal and$3,248 of accrued interest related to convertible notes payable. Assets On June 7, 2022, the Company disposed of One More Gym, LLC in a sale of the assets. The Company received cash of $30,000, a promissory note of $10,000 in exchange for the net assets totaling $134,546. This generated a loss on sale of assets of $94,546. On June 27, 2022, the Company disposed of One More Gym Merrillville, LLC in a sale of the assets. The Company received cash of $15,000 in exchange for the net assets totaling $36,299. This generated a loss on sale of assets of $21,299. On June 27 , 2022, the Company disposed of One More Gym Valparaiso, LLC in a sale of the assets. The Company received cash of 25,000 in exchange for the net assets totaling $71,452. This generated a loss on sale of assets of $46,452.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 855 -URI https://asc.fasb.org/topic&trid=2122774 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 855 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=6842918&loc=SL6314017-165662 + Details
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