BASIS OF PRESENTATION (Policies)

6 Months Ended

Sep. 30, 2019

2% Convertible Note Payable to Douglas Goodsell

BASIS OF PRESENTATION

The accompanying unaudited consolidated financial statements of EnXnet, Inc. (“EnXnet” or “the Company”) for the six months ended September 30, 2019 have been prepared in accordance with generally accepted accounting principles in the United States of America, pursuant to the rules and regulations of the U.S. Securities and Exchange Commission for interim financial information. Accordingly, the financial statements do not include all information and footnotes required by generally accepted accounting principles in the United States for complete annual financial statements. In the opinion of management, the accompanying unaudited interim consolidated financial statements reflect all adjustments, consisting of normal recurring adjustments, considered necessary for a fair presentation. The results of operations for the interim periods are not necessarily indicative of the results to be expected for the full year. The accompanying unaudited consolidated financial statements should be read in conjunction with the financial statements and notes thereto included in the Company’s March 31, 2019 Annual Report on Form 10-K.

Reclassification

Certain amounts in the March 31, 2019 financial statements have been reclassified to conform to the September 30, 2019 financial presentation. These reclassification have no impact on net loss.

Cash and Restricted Cash

The following table sets forth a reconciliation of cash and restricted cash reported in the consolidated statements of cash flows that agrees to the total of those amounts as presented in the consolidated statements of cash flows.

Cash and restricted cash consist of the following:	September 30, 2019		September 30, 2018
Cash	$	7,590	$	8,922
Restricted cash		2,845		2,313
Total cash and restricted cash	$	10,435	$	11,235

ENXNET INC 10-Q