RELATED PARTY NOTES PAYABLE AND OTHER RELATED PARTY TRANSACTIONS	6 Months Ended
Sep. 30, 2023
Related Party Transactions [Abstract]
RELATED PARTY NOTES PAYABLE AND OTHER RELATED PARTY TRANSACTIONS	NOTE 4-RELATED PARTY NOTES PAYABLE AND OTHER RELATED PARTY TRANSACTIONS The Company recorded compensation expense to its related party of $15,000 and $15,000, and $30,000 and $30,000 for three-month and six-month periods ended September 30, 2023 and 2022, respectively. The Company employed its founder under an employment agreement which started on March 31, 2017 and provided for a salary of $5,000 per month for the first twelve (12) months, and on March 1^st, 2018 increased to $5,500 per month for the next twelve (12) months. This employment agreement administratively terminated on February 28, 2019, both the related party and the Company agreed to limit the annual salary to $60,000 per year or $5,000 per month. Accrued compensation payable of $395,000 and $365,000 is due and payable as of September 30, 2023 and March 31, 2023, respectively. On December 31, 2017, the Company executed a promissory note with its related party, Mr. Robert Dolan, Chief Executive Officer of the Company in the amount of $6,000. The unsecured note payable bears interest at 0% per annum and is due upon demand. The outstanding balance for the related party promissory note(s) due to Mr. Dolan as of September 30, 2023 and March 31, 2023 was $68,043 and $69,043 respectively. During prior years the Company borrowed money from an investor who became a shareholder of the Company through its direct public offering. This amount was negligible and amounted to $50 as of September 30, 2023 and March 31, 2023 owing to this shareholder. As of September 30, 2023 total related party promissory notes was $68,093 which contains Mr. Dolan’s related party note balance of $68,043 and $50 owed to Mr. Wesley Fry. Mr. Fry’s unsecured note payable bears interest at 0% per annum and is due upon demand. Mr. Fry’s total ownership is less than 5% in the Company’s common stock. The Company used these related party funds for working capital purposes and for the development of its proto-type GPods solution which it has capitalized for each period presented. The Company during the six-month period ended September 30, 2023 repaid $1,000 of Mr. Dolan’s related party promissory note. We had accounts due and owing to a vendor that became a related party during the year ended March 31, 2019 due to their ownership in the Company. The related party, was W270 Systems, SA, a Costa Rican corporation, and its principal, Mr. Fry, executed a subscription agreement with the Company and its registered public offering and invested in the Company’s common stock. Mr. Fry received 250,000 shares of common stock of the Company. The related party accounts payable balance for the vendor totaled $308,800 at March 31, 2023 and $313,600 in total at September 30, 2023. For the six-month period ended September 30, 2023 and for the twelve-month period ended March 31, 2023, related party accounts payable balances increased by $4,800 and $16,000, respectively. Capitalized Internal use – Software increased during the six-month period ended September 30, 2023 by $2,400. As described in Note 3 above the Company capitalizes approximately 50% of the costs incurred to develop its internal use software in accordance with GAAP. Other costs incurred with respect to this vendor are expensed as incurred; during the six-month period ended September 30, 2023 this amounted to $2,400. For the six-month period ended September 30, 2023 we capitalized internal use software of $2,400 and expensed $2,400 in software development expenses. Capitalized costs – prototype increased during the six-month period ended September 30, 2023 by $0. As described in Note 3 above the Company capitalizes approximately 100% of the costs incurred to develop its prototype product in accordance with GAAP. Of the $0 in costs capitalized, $0 was incurred with respect to the DLE vendor a non-related party, and $0 in costs that our CEO and President, Mr. Dolan had incurred and paid for during the six-month period. The two vendors, one a related party and the other a non-related party have agreed to defer all payments on their accounts payable balances until the Company has secured sufficient financing.

RELATED PARTY NOTES PAYABLE AND OTHER RELATED PARTY TRANSACTIONS

6 Months Ended

Sep. 30, 2023

NOTE 4-RELATED PARTY NOTES PAYABLE AND OTHER RELATED PARTY TRANSACTIONS

The Company recorded compensation expense to its related party of $15,000 and $15,000, and $30,000 and $30,000 for three-month and six-month periods ended September 30, 2023 and 2022, respectively. The Company employed its founder under an employment agreement which started on March 31, 2017 and provided for a salary of $5,000 per month for the first twelve (12) months, and on March 1^st, 2018 increased to $5,500 per month for the next twelve (12) months. This employment agreement administratively terminated on February 28, 2019, both the related party and the Company agreed to limit the annual salary to $60,000 per year or $5,000 per month. Accrued compensation payable of $395,000 and $365,000 is due and payable as of September 30, 2023 and March 31, 2023, respectively.

On December 31, 2017, the Company executed a promissory note with its related party, Mr. Robert Dolan, Chief Executive Officer of the Company in the amount of $6,000. The unsecured note payable bears interest at 0% per annum and is due upon demand. The outstanding balance for the related party promissory note(s) due to Mr. Dolan as of September 30, 2023 and March 31, 2023 was $68,043 and $69,043 respectively. During prior years the Company borrowed money from an investor who became a shareholder of the Company through its direct public offering. This amount was negligible and amounted to $50 as of September 30, 2023 and March 31, 2023 owing to this shareholder. As of September 30, 2023 total related party promissory notes was $68,093 which contains Mr. Dolan’s related party note balance of $68,043 and $50 owed to Mr. Wesley Fry. Mr. Fry’s unsecured note payable bears interest at 0% per annum and is due upon demand. Mr. Fry’s total ownership is less than 5% in the Company’s common stock. The Company used these related party funds for working capital purposes and for the development of its proto-type GPods solution which it has capitalized for each period presented. The Company during the six-month period ended September 30, 2023 repaid $1,000 of Mr. Dolan’s related party promissory note.

We had accounts due and owing to a vendor that became a related party during the year ended March 31, 2019 due to their ownership in the Company. The related party, was W270 Systems, SA, a Costa Rican corporation, and its principal, Mr. Fry, executed a subscription agreement with the Company and its registered public offering and invested in the Company’s common stock. Mr. Fry received 250,000 shares of common stock of the Company. The related party accounts payable balance for the vendor totaled $308,800 at March 31, 2023 and $313,600 in total at September 30, 2023. For the six-month period ended September 30, 2023 and for the twelve-month period ended March 31, 2023, related party accounts payable balances increased by $4,800 and $16,000, respectively.

Capitalized Internal use – Software increased during the six-month period ended September 30, 2023 by $2,400. As described in Note 3 above the Company capitalizes approximately 50% of the costs incurred to develop its internal use software in accordance with GAAP. Other costs incurred with respect to this vendor are expensed as incurred; during the six-month period ended September 30, 2023 this amounted to $2,400. For the six-month period ended September 30, 2023 we capitalized internal use software of $2,400 and expensed $2,400 in software development expenses.

Capitalized costs – prototype increased during the six-month period ended September 30, 2023 by $0. As described in Note 3 above the Company capitalizes approximately 100% of the costs incurred to develop its prototype product in accordance with GAAP. Of the $0 in costs capitalized, $0 was incurred with respect to the DLE vendor a non-related party, and $0 in costs that our CEO and President, Mr. Dolan had incurred and paid for during the six-month period.

The two vendors, one a related party and the other a non-related party have agreed to defer all payments on their accounts payable balances until the Company has secured sufficient financing.

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

GPODS, INC. 10-Q