|6 Months Ended|
Sep. 30, 2019
|NOTE 9 - EQUITY||
The Company has authorized 5,000,000 shares of $0.00001 par value, undesignated Preferred Stock. As of September 30, 2019, the Company has not issued any shares of Preferred Stock nor has the Company designated any class of Preferred Stock.
Stock Option Plan
On May 17, 2019, the board of directors of the Company approved and adopted the terms and provisions of a 2019 Stock Option Plan (the “Plan”) for the Company. No stockholder approval has been obtained approving the Plan. An aggregate of 2,000,000 shares of the Company’s common stock are initially reserved for issuance upon exercise of nonqualified and/or incentive stock options which may be granted under Plan. No options have yet been issued under the Plan.
In conjunction with the resignation of a board member in September 2019, the Company issued 100,00 shares to the former board member for past services rendered at a price of $0.70 per share for a total cost of $70,000, which represented the market price of the shares as of the date of issuance. The value of the shares was reflected in general and administrative expenses is the Company’s condensed consolidated statements of operations.
The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef