NOTES PAYABLE

6 Months Ended

Sep. 30, 2018

NOTE 3 – NOTES PAYABLE

Note payable-stockholder consists of the following:

	September 30, 2018		March 31, 2018
5.75% note payable to a stockholder, due May 31, 2018.	$	—	$	100,000

Convertible notes payable-related party consists of the following:
	September 30, 2018	March 31, 2018
2% convertible notes payable to Ryan Corley, President of the Company, due on demand, convertible into a maximum of 38,238,984 common shares	764,455	749,455
2% convertible note payable to an entity controlled by Ryan Corley, President of the Company, due on demand, convertible into a maximum of 978,000 common shares	48,900	48,900
3% convertible notes payable to an entity controlled by Ryan Corley, President of the Company, due on demand, convertible into a maximum of 1,619,500 common shares	111,350	111,350
2% convertible notes payable to Douglas Goodsell, a related party, due on demand, convertible into a maximum of 519,828 common shares	10,396	10,396
Total notes payable-related party	$ 935,101	$ 920,101
Convertible notes payable consists of the following:
	September 30, 2018	March 31, 2018
7% convertible note payable to stockholder, due on August 15, 2019, convertible into a maximum of 250,000 common shares,	50,000	-
7% convertible note payable to stockholder, due on September 10, 2019, convertible into a maximum of 250,000 common shares,	50,000	-
7% convertible notes payable to stockholder, which is past due, convertible into a maximum of 250,000 common shares,	50,000	50,000
7% convertible notes payable to stockholder, due August 12, 2018 convertible into a maximum of 250,000 common shares,	50,000	50,000
4% convertible notes payable to a stockholder, due on demand, convertible into a maximum of 350,000 common shares	175,000	175,000
2% convertible notes payable to stockholders, due on demand, convertible into a maximum of 1,100,000 common shares	25,000	25,000
Total notes payable	$ 400,000	$ 300,000
Long Term Convertible notes payable consists of the following:
	September 30, 2018	March 31, 2018
7% convertible note payable to stockholder, due on August 15, 2019, convertible into a maximum of 250,000 common shares,	-	50,000
7% convertible note payable to stockholder, due on September 10, 2019, convertible into a maximum of 250,000 common shares,	-	50,000
Total notes payable	$ -	$ 100,000

On April 1, 2018, the Company converted $15,000 of the advances from an officer into a convertible note payable. The note bears interest of 2% and is convertible with the accrued interest into common shares of the Company at a rate of $0.025 per share.

In April 2018, our CEO and President acquired a $50,000 interest in a note payable-stockholder that was due May 17, 2018, On August 13, 2018 the Company paid this note with the issuance of 1,250,000 shares of stock. In addition, on August 13, 2018, The Company issued another 1,250,000 shares of stock to pay a note payable-stockholder in the amount of $50,000. A total of 2,500,000 shares of stock were issued to pay notes payable aggregating $100,000. The fair market value of the 2,500,000 shares issued was $117,500. The Company recognized a loss on conversion of the notes payable I the amount of $17,500.

ENXNET INC 10-Q