NOTES PAYABLE

12 Months Ended

Mar. 31, 2022

NOTE 8 - NOTES PAYABLE

The following is a summary of notes payable as March 31, 2022 and 2021:

Schedule of notes payable
	As of			As of
	March 31,			March 31,
	2022			2021
Notes payable - current maturity:
Note Payable PPP SBA Loan		–			15,600
SBA EIDL Loan		10,000			10,000
SBA Loan Payable B2Digital		97,200			97,200
GS Capital, LLC		153,000			–
SBA Loan (Hillcrest)		35,400			35,400
Notes payable – in default:
Emry Capital $14,000, 4% loan with principal and interest due April, 2021		14,000			14,000
Notes payable – long term:
WLES LP LLC $60,000, 5% loan due January 15, 2022		30,000			30,000
Brian Cox 401K		–			12,882
SBA Loan (One More Gym, LLC)		–			63,047

Total notes payable		339,600			278,129
Less: long-term		(30,000	)		(105,929	)
Total	$	309,600		$	172,200

During the year ended March 31, 2022, the Company repaid $12,882 on its loan payable to Brian Cox 401K.

During the year ended March 31, 2022, the Company repaid $11,868 on its SBA Loan (One More Gym, LLC). The Government paid another $6,634 in principle and $1,069 in interest as part of COVID relief. As a result, the Company recorded $7,703 in gain on forgiveness.

During the year ended March 31, 2022, the Company recorded a loss on impairment partially offset by the SBA loan (One More Gym, LLc) for the remaining balance of $44,546.

During year ended March 31, 2022, the government forgave $15,600 in principle on its PPP SBA Loan. As a result, the Company recorded $15,600 in gain on forgiveness of loan.

As of March 31, 2022, the Emry Capital note is in default. However, the note is not subject to any default provisions.

On May 8, 2020, WLES LP LLC converted $30,000 of its $60,000 notes payable into 12,000,000 shares of common stock. As a result, the Company recorded a loss on settlement of debt in the amount of $18,281.

During the year ended March 31, 2021, the Company repaid $9,082 on its loan payable to Brian Cox 401K.

During the year ended March 31, 2021, the Company repaid $5,047 on its SBA Loan (One More Gym, LLC). The Government paid another $6,916 as part of COVID relief.

During year ended March 31, 2021, the bank forgave $6,949 in principal and $3,132 in accrued interest on its SBA Loan (One More Gym, LLC). As a result, the Company recorded $10,080 in gain on forgiveness of loan.

As of March 31, 2021, the Emry Capital note is in default. However, the note is not subject to any default provisions.