What changed in this filing

/stocks — the workspaceLOADING

Item 7. Management’s Discussion and Analysis

2024-07-01 compared with 2023-06-29 · 37 added, 34 removed, 163 unchanged (30% of the section changed)

74 unchanged sentences

Settlements for which we will be an advisor.

As of June 29, 2023 none of the milestones

related to the potential issuance of equity have been met.

As of July 1, 2024 none of the milestones related

to the potential issuance of equity have been met.

This Company has terminated this agreement with Tradability, and no future payments are expected in association with

this terminated agreement.

of Operations

Fiscal year ended March 31,

2023 compared to March 31, 2022

year ended March 31, 2024 compared to March 31, 2023

& Administrative Expenses

2 unchanged sentences

portion of these expenses were professional fees, payroll, and rent expenses.

The reduction in general and administrative expenses is because we had reduced

professional fees during 2024.

Income and Expenses

the year ended March 31, 2022, we negotiated a settlement to reduce our outstanding accounts payable to one of our vendors by $285,192.

The gain was recorded as a gain on settlement of liabilities.

the years ended March 31, 2024, and 2023, we recognized $1,047,729, and $1,745,808, respectively, as loss on extinguishment of debt in

conjunction with related party debt.

The reduction in loss on extinguishment of debt is because we extinguished less debt at a loss during

the years ended March 31, 2024, and 2023, interest expense totaled $410,856 and $329,890, respectively.

The increase in interest expense

was a result of higher loan balances, as well as an additional $21,061 of debt discount recognized during the year.

For the years ended

March 31, 2023, and 2022, expenses incurred pursuing potential financing alternatives totaled $54,000 and $197,761, respectively.

the years ended March 31, 2023, and 2022, the Company recorded a net loss before income taxes of $2,811,981 and $2,760,936, respectively.

During the year ended March 31, 2022, we had an income tax expense of $4,149 due to minimum income

and franchise taxes across various state jurisdictions, with all other deferred income tax expense or benefit being offset as a result

of a full valuation allowance on the net deferred tax asset .

was a result of higher loan balances, and $67,890 recognized on amortization of debt discount.

For the years ended March 31, 2024, and

2023, expenses incurred pursuing potential financing alternatives totaled $135,000 and $54,000, respectively.

The increase in financing

expense is due to expenses incurred in pursuing bonding.

the years ended March 31, 2024, and 2023, the Company recorded a net loss before income taxes of $1,834,991 and $2,811,981,

respectively.

The reduction in net loss is largely due to decrease in losses from extinguishing debt.

and Capital Resources

9 unchanged sentences

Outstanding Accounts Payable as of March 31, 2024, totaled $447,862, and other accrued liabilities totaled $1,790,940

We believe that our availability under our existing lines of credit with related parties, our existing capital resources, together with

the issuance of additional notes payable and convertible debentures will be sufficient to fund our operating working capital requirements

We believe that our availability under our existing lines of credit with related parties, our existing capital resources, together

with the issuance of additional notes payable and convertible debentures will be sufficient to fund our operating working capital requirements

for the 12 months from the issuance of the financial statements.

3 unchanged sentences

the years ended March 31, 2024, and 2023 no cash was used in or provided by investing activities.

the year ended March 31, 2023, and 2022 net cash provided by financing activities was $192,300, and $1,060,000, respectively.

the years ended March 31, 2024, and 2023 net cash provided by financing activities was $995,950, and $192,300, respectively.

activities for both years consisted of borrowing on new related party promissory notes and existing notes payable and lines-of-credit

Additionally, financing activities for the fiscal years ended March 31, 2023, and 2022 included $0 and $500,000 in proceeds raised by

issuance of our common stock through private placement memorandums, respectively.

in the amounts of $180,950, and $192,300, respectively.

Additionally, during the years ended March 31, 2024, and 2023, the Company received

$850,000 and $0 in proceeds raised by issuance of our common stock through private placement memorandums, respectively.

March 31, 2024, we owed $5,205,617, including accrued interest, for debt obligations.

We owed $3,194,108 in principal pursuant to

notes payable and lines-of-credits from related parties and $300,000 in other notes payable.

As of March 31, 2023, one note payable

had a principal balance of 1,119,508 and is due on November 30, 2024, and a line-of-credit had a principal balance of $50,000 and

subsequent to year end had been extended to have be due on July 29, 2024, or when the Company completes a successful equity raise

(if earlier than the due date), at which time principal and interest is due in full.

The second note payable and line-of-credit had

a principal balance of $1,198,600, and the line of credit is due November 30, 2024.

The third series of related-party promissory

notes had a total principal balance of $826,000 and subsequent to year end had been extended to have be due on August 31, 2024.

convertible debenture agreement, which has no principal balance due as of March 31, 2023, is open through November 30, 2024.

June 29, 2023, there was $4,345,892 available under the lines-of-credit we currently have with related parties and $3,000,000

available under the 8% convertible debenture agreement.

We owed $3,340,058 in principal pursuant to notes

payable and lines-of-credits from related parties and $300,000 in other notes payable.

As of March 31, 2024, one note payable had a principal

balance of $1,159,508 and is due on November 30, 2025, and a line-of-credit had a principal balance of $50,000 and is due on July 29,

2024, or when the Company completes a successful equity raise (if earlier than the due date), at which time principal and interest is

The second note payable and line-of-credit had a principal balance of $1,304,550, and the line of credit is due November

The third series of related-party promissory notes had a total principal balance of $826,000 and has

been extended to be due on November 30, 2025.

The convertible debenture agreement, which has no principal balance due as of March

31, 2024, is open through November 30, 2024.

As of July 1, 2024, there was $4,265,942 available under the lines-of-credit we currently

have with related parties and $3,000,000 available under the 8% convertible debenture agreement.

may borrow money in the future to finance our operations but can make no guarantees that such credit will be made available to us.

13 unchanged sentences

Maturity Date

March 31, 2024

March 31, 2025

Year Ended March 31, 2025

Year Ended March 31, 2026

Debt Obligations (1)

Interest Payable

Debt obligations consist of the principal pursuant to the notes payable from related parties and non-related parties (as mentioned above)

obligations consist of the principal pursuant to the notes payable from related parties and non-related parties (as mentioned above)

Accounting Policies and Estimates

42 unchanged sentences

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-K

Item 7. Management’s Discussion and Analysis