|  XX | ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
|----------|--------------------------------------------------------------------------------------|

|   | For the Fiscal Year Ended March 31, 2014 |
|--------|------------------------------------------|

|  ___ | TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE EXCHANGE ACT |
|-----------|-----------------------------------------------------------------|

|   | Commission file number:  333-82580 |
|--------|----------------------------------------------|

| Delaware(State or other Jurisdiction of Incorporation or Organization) |   | 59-3733133(IRS Employer I.D. No.) |
|------------------------------------------------------------------------|--------|-----------------------------------|

| Securities registered under Section 12 (b) of the Exchange Act:                                                                                                                                                                                                                                                                                                   |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                                                                                                                                                                                                                                                                                                                                                              |   |
|     Title of each class                                                                                                                                                                                                                                                                                                             |     Name of each exchange on which registered     |
| None                                                                                                                                                                                                                                                                                                                                                              | None |
|                                                                                                                                                                                                                                                                                                                                                              |   |
| Securities registered under Section 12(g) of the Exchange Act:                                                                                                                                                                                                                                                                                                    |
|                                                                                                                                                                                                                                                                                                                                                              |
|                        None                                     |
| Title of Class                                                                                                                                                                                                                                                                                                                                                    |

----

| PART 1                                                                                                                     | Page No.      |
|----------------------------------------------------------------------------------------------------------------------------|---------------|
| Item 1. Business                                                                                                           | 4             |
| Item 1A.  Risk Factors                                                                                           |  4  |
| Item 1B.  Unresolved Staff Comments                                                                              | 6             |
| Item 2. Properties                                                                                                         |   6      |
| Item 3. Legal Proceedings                                                                                                  |   6      |
| Item 4.  Mine Safety Disclosures                                                                                 |   6      |
|                                                                                                                       |   6      |
| PART  II                                                                                                         |          |
|                                                                                                                       |          |
| Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities |   7      |
| Item 6. Selected Financial Data                                                                                            |  9       |
| Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations                        |   9      |
| Item 7A  Quantitative and Qualitative Disclosures about Market Risk                                              |   13     |
| Item 8. Financial Statements and Supplementary Data                                                                        |  13      |
| Item 9  Changes in and Disagreements with Accountants on Accounting and Financial Disclosure                     |   13     |
| Item 9A  Controls and Procedures                                                                                 |   13     |
| Item 9B  Other Information                                                                                       |   15     |
|                                                                                                                       |          |
| PART III                                                                                                                   |          |
|                                                                                                                       |          |
| Item 10  Directors, Executive Officers and Corporate Governance                                                  |   15     |
| Item 11  Executive Compensation                                                                                  |   17     |
| Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters                    |   17     |
| Item 13. Certain Relationships and Related Transactions, and Director Independence                                         |   19     |
| Item 14. Principal Accounting Fees and Services                                                                            |   19     |
| Item 15. Exhibits                                                                                                          |   20     |
|                                                                                                                       |          |
| Signatures                                                                                                                 |   21     |

----

|   | ● | the quality of our properties with regard to, among other things, the existence of reserves in economic quantities; |
|--------|---------|---------------------------------------------------------------------------------------------------------------------|
|   | ● | uncertainties about the estimates of reserves;                                                                      |

|   | ● | our ability to increase our production and oil and natural gas income through exploration and development; |
|--------|---------|------------------------------------------------------------------------------------------------------------|
|   | ● | the number of well locations to be drilled and the time frame within which they will be drilled;           |

|   | ● | the timing and extent of changes in commodity prices for natural gas and crude oil; |
|--------|---------|-------------------------------------------------------------------------------------|
|   | ● | domestic demand for oil and natural gas;                                            |

|   | ● | drilling and operating risks;                                                      |
|--------|---------|------------------------------------------------------------------------------------|
|   | ● | the availability of equipment, such as drilling rigs and transportation pipelines; |

|   | ● | changes in our drilling plans and related budgets;                                                                              |
|--------|---------|---------------------------------------------------------------------------------------------------------------------------------|
|   | ● | the adequacy of our capital resources and liquidity including, but not limited to, access to additional borrowing capacity; and |

|   | ● | other factors discussed under Item 1A Risk Factors with the heading “Risks Related To Our Business”. |
|--------|---------|------------------------------------------------------------------------------------------------------------------|

----

| ITEM 1. | DESCRIPTION OF BUSINESS |
|---------|-------------------------|

----

| ·   | Our cultivation process will include unique technology and processes designed to provide a more consistent, higher quality product than our competition; who will be using more conventional methodologies. |
|--------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | Our approved dispensary will be the only location near one of the largest, rapidly growing suburban regions in Clark County. |
|--------------------|------------------------------------------------------------------------------------------------------------------------------|

| ·   | GrowBLOX’sTM AeroVAPORTM misting system delivers all of the moisture, nutrients and oxygen the cannabis plants need to grow through a misting system that recycles the water used. Absolutely, no gray water remains that would traditionally be released back into the environment. |
|--------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | Energy-efficient LED lighting system. |
|--------------------|---------------------------------------|

| ·   | Integrated, intelligent control system that continuously monitors, manages, records, and analyzes the cultivation methodology for optimal growth.   |
|--------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | Remote monitoring system sends alerts via text, email and telephone to our scientists, botanists and cultivators, recommending adjustments to the chambers cultivation levels.  |
|--------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| ITEM 1A. | RISK FACTORS |
|----------|--------------|

| ITEM 1B. | UNRESOLVED STAFF COMMENTS |
|----------|---------------------------|

| ITEM 2. | PROPERTY |
|---------|----------|

| ITEM 3. | LEGAL PROCEEDINGS |
|---------|-------------------|

| ITEM 4. | MINE SAFETY DISCLOSURES |
|---------|-------------------------|

----

|   |   |
|--------|--------|

| ITEM 5. | MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES |
|---------|--------------------------------------------------------------------------------------------------------------------|

| Fiscal Year 2014 | High ($)          | Low ($)           |
|------------------|-------------------|-------------------|
| Fourth Quarter   | $  8.90 | $  0.40 |
| Third Quarter    | $  1.00 | $  0.30 |
| Second Quarter   | $  0.70 | $  0.30 |
| First Quarter    | $  0.70 | $  0.70 |
| Fiscal Year 2013 |              |              |
| Fourth Quarter   | $  0.80 | $  0.30 |
| Third Quarter    | $  2.00 | $  0.03 |
| Second Quarter   | $  0.70 | $  0.70 |
| First Quarter    | $  1.80 | $  1.80 |

----

| •   | a provisional patent application |
|---------------------|----------------------------------|

| •   | concepts associated with the Mr. Ellins or his associates |
|---------------------|-----------------------------------------------------------|

| •   | trademarks |
|---------------------|------------|

| •   | business plans |
|---------------------|----------------|

| •   | investor presentations and histories |
|---------------------|--------------------------------------|

| •   | websites |
|---------------------|----------|

| •   | trade secrets including without limitation trade secrets involving nutrient mixes |
|---------------------|-----------------------------------------------------------------------------------|

| •   | drawings and digital artwork |
|---------------------|------------------------------|

| •   | raw materials |
|---------------------|---------------|

| •   | production equipment and related assets including without limitation electrical equipment, plastic molds and internal parts |
|---------------------|-----------------------------------------------------------------------------------------------------------------------------|

| •   | proof-of-concept equipment |
|---------------------|----------------------------|

| •   | URL’s |
|---------------------|-------------|

----

| ITEM 6. | SELECTED FINANCIAL DATA |
|---------|-------------------------|

| ITEM 7. | MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANICAL CONDITION AND RESULTS OF OPERATION |
|---------|--------------------------------------------------------------------------------------------|

----

|                           |   | 2014   |      |   | 2013   |   |
|--------------------------------|--------|--------|-----------|--------|--------|--------|
| Loss on oil and gas properties |   | $      | -         |   |   | $      | 36,000 |   |
| General and administrative     |   |   | 188,000   |   |   |   | 76,000 |   |
| Other income/(expense)         |   |   | (468,000  | )      |   |   | 148,000 |   |
| Net income/(loss)              |   | $      | ( 634,000 | )      |   | $      | 36,000 |   |

----

----

----

| ITEM 7A. | QUANTITATIVE AND QUALITATIVE DISCLOSERS ABOUT MARKET RISK |
|----------|-----------------------------------------------------------|

|   | N/A |
|--------|-----|

|   |   |
|--------|--------|

| ITEM 8. | FINANCIAL STATEMENTS |
|---------|----------------------|

| ITEM 9. | CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURES |
|---------|---------------------------------------------------------------------------------------|

| ITEM 9A. | CONTROLS AND PROCEDURES |
|----------|-------------------------|

----

| ·   | ineffective controls over period end financial disclosure and reporting processes including not having a functioning audit committee consisting of independent Board members as well as lack of expertise with respect to the application of US GAAP and SEC rules and regulations. |
|--------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | one individual who, as an officer and director of the Company, has sole access and authority to receive cash and make cash disbursements |
|--------------------|------------------------------------------------------------------------------------------------------------------------------------------|

| 1.   | Identify and/or retain a second employee or member of management who is appropriately trained who will also have duel control with respect to the receipt of cash and the making of cash disbursements; and |
|----------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 2.   | Establish formal general accounting policies and procedures. |
|----------------|--------------------------------------------------------------|

| 3.   | Update some of our current procedures to better address period end financial disclosure. |
|----------------|------------------------------------------------------------------------------------------|

| 4.   | Update controls relating to other processes. |
|----------------|----------------------------------------------|

----

| ITEM 9B. | OTHER INFORMATION |
|----------|-------------------|

| ITEM 10. | DIRECTORS, EXECUTIVE OFFICERS, AND CORPORATE GOVERNANCE |
|----------|---------------------------------------------------------|

| Name                    | Age    | Position                                          |
|-------------------------|--------|---------------------------------------------------|
| Craig Ellins            | 62     | Chief Executive Officer and Chairman of the Board |
| Steven Weldon           | 38     | Chief Financial Officer and Director              |
| Dr. Andrea Small-Howard | 45     | Chief Science Officer and Director                |
|                    |   |                                              |

----

| 1)   | the subject of any bankruptcy petition filed by or against any business of which such person was a general partner or executive officer either at the time of the bankruptcy or within two years prior to that time; |
|----------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 2)   | convicted in a criminal proceeding or is subject to a pending criminal proceeding (excluding traffic violations and other minor offenses); |
|----------------|--------------------------------------------------------------------------------------------------------------------------------------------|

| 3)   | subject to any order, judgment, or decree, not subsequently reversed, suspended or vacated, of any court of competent jurisdiction, permanently or temporarily enjoining, barring, suspending or otherwise limiting his involvement in any type of business, securities or banking activities; or |
|----------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 4)   | found by a court of competent jurisdiction (in a civil action), the Commission or the Commodity Futures Trading Commission to have violated a federal or state securities or commodities law. |
|----------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | ITEM 11.  EXECUTIVE COMPENSATION |
|--------|--------------------------------------------|

| Name and Position                           | Year   | Salary ($) | Bonus ($) | Stock Awards ($) | Option Awards($) | Non-Equity Incentive PlanCompensation | NonqualifiedDeferred Compensation Earnings($) | All Other Compensation | Total  |
|---------------------------------------------|--------|------------|-----------|------------------|------------------|---------------------------------------|-----------------------------------------------|------------------------|--------|
|                                        |   |       |      |             |             |                                  |                                          |                   |   |
|                                        |   |       |      |             |             |                                  |                                          |                   |   |
| Craig Ellins, CEO and Chairman of the Board | 2014   | 6,125      | -         | -                | -                | -                                     | -                                             | -                      | 6,125  |
|                                        | 2013   | -          | -         | -                | -                | -                                     | -                                             | -                      | -      |
|                                        | 2012   | -          | -         | -                | -                | -                                     | -                                             | -                      | -      |
| Steven Weldon, CFO and Director             | 2014   | 2,000      | -         | -                | -                | -                                     | -                                             | -                      | 2,000  |
|                                        | 2013   | -          | -         | -                | -                | -                                     | -                                             | -                      | -      |
|                                        | 2012   | -          | -         | -                | -                | -                                     | -                                             | -                      | -      |
|                                        |   |       |      |             |             |                                  |                                          |                   |   |
| Dr. Andrea Small-Howard                     | 2014   | -          | -         | -                | -                | -                                     | -                                             | -                      | -      |
|                                        | 2013   | -          | -         | -                | -                | -                                     | -                                             | -                      | -      |
|                                        | 2012   | -          | -         | -                | -                | -                                     | -                                             | -                      | -      |

| ITEM 12. | SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS |
|----------|------------------------------------------------------------------------------------------------|

| ·   | each person who is known by us to be the beneficial holder of more than 5% of our outstanding common stock; |
|--------------------|-------------------------------------------------------------------------------------------------------------|

| ·   | each of our named executive officers and directors; and |
|--------------------|---------------------------------------------------------|

| ·   | our directors and executive officers as a group. |
|--------------------|--------------------------------------------------|

----

|                                    | Number ofShares of Common Stock Beneficially Owned |   |
|-----------------------------------------|----------------------------------------------------|--------|
|   Name of Beneficial Owner(1) |  Percentage of Shares Beneficially Owned      |
| Craig Ellins                            | 8,500,000                                          | 36.4%  |
| Lazarus Investment Partners, LLLP(2)    | 3,000,000                                          | 12.9%  |
| Steven Weldon                           | 374,521                                            | 2.0%   |
| All directors and officers (2 person)   | 8,874,521                                          | 38.4%  |
|                                    |                                               |   |

| (1)   | Unless otherwise noted, the address of each person listed is c/o Growblox Sciences, Inc. 7251 West Lake Mead Blvd, Suite 300, Las Vegas, NV 89128. |
|-----------------|----------------------------------------------------------------------------------------------------------------------------------------------------|

| (2)   | Lazarus Investment Partners, LLLP. c/o Lazarus Management Company LLC, 3200 Cherry Creek South Drive, Suite 670,Denver, CO  80209 |
|-----------------|---------------------------------------------------------------------------------------------------------------------------------------------|

----

| ITEM 13. | CERTAIN RELATIONSHIPS, RELATED TRANSACTIONS AND DIRECTOR INDEPENDENCE |
|----------|-----------------------------------------------------------------------|

| ITEM 14. | PRINCIPAL ACCOUNTANT FEES AND SERVICES |
|----------|----------------------------------------|

|                  |   | Fiscal 2014 |   |   | Fiscal 2013 |   |
|-----------------------|--------|-------------|--------|--------|-------------|--------|
| Audit Fees(1)         |   | $           | 22,370 |   |        | $      | 29,000 |   |
| Audit-Related Fees(2) |   |        | -0-    |   |        |   | -0- |   |
| Tax Fees(3)           |   |        | -0-    |   |        |   | -0- |   |
|                  |   |        |   |   |        |   |   |   |
| Subtotal              |   | $           | ,000   |   |        | $      | 29,000 |   |
|                  |   |        |   |   |        |   |   |   |
| All other Fees(4)     |   |        | -0-    |   |        |   | -0- |   |
|                  |   |        |   |   |        |   |   |   |
| Total                 |   | $           | 22,370 |   |        | $      | 29,000 |   |

| (1) | Audit Fees –Audit fees billed to the Company in FY 2014 by our former auditor, LJ Sullivan Certified Public Accountant, LLC were for auditing the Company’s annual financial statements and reviewing the financial statements included in the Company’s Quarterly Reports on Form 10-Q. |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (2) | Audit-Related Fees – There were no other fees billed by LJ Sullivan Certified Public Accountant, LLC and during the last two fiscal years for assurance and related services that were reasonably related to the performance of the audit or review of the Company's financial statements and not reported under "Audit Fees" above. |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (3) | Tax Fees – There were no tax fees billed during the last past fiscal year for professional services. |
|-----|------------------------------------------------------------------------------------------------------------|

| (4) | All Other Fees – There were no other fees billed by during the last two fiscal years for products and services provided. |
|-----|--------------------------------------------------------------------------------------------------------------------------------|

----

| ITEM 15. | EXHIBITS |
|----------|----------|

| Exhibit No. | Description                                                                                                         |
|-------------|---------------------------------------------------------------------------------------------------------------------|
| 3.1         | Articles of Incorporation (1)                                                                                       |
| 3.2         | Amendment to Articles of Incorporation                                                                              |
| 3.3         | Bylaws (1)                                                                                                          |
| 10.1        | 2005 Restricted Stock Plan (2)                                                                                      |
| 10.2        | 2007 Restricted Stock Plan (3)                                                                                      |
| 10.3        | Amended Employment Agreement (Craig Ellins)                                                                         |
| 10.4        | Amended Employment Agreement (Steven Weldon)                                                                        |
| 10.5        | Amended Employment Agreement (Andrea Small-Howard)                                                                  |
| 14.1        | Code of Ethics (4)                                                                                                  |
| 21.1        | Subsidiaries                                                                                                        |
| 31.1        | Certification of Chief Executive Officer pursuant to Rules 13a-14 and 15d-14 of the Securities Exchange Act of 1934 |
| 31.2        | Certification of Chief Financial Officer pursuant to Rules 13a-14 and 15d-14 of the Securities Exchange Act of 1934 |
| 32.1        | Certification of Chief Executive Officer pursuant to 18 U.S.C. Section 1350                                         |
| 32.2        | Certification of Chief Financial Officer pursuant to 18 U.S.C. Section 1350                                         |
| 99.1        | Independent Director Rule                                                                                           |
| 101         | XBRL Instant Documents                                                                                              |

| (1)   | Previously filed as an exhibit to Form SB-2 on February 12, 2002 |
|-----------------|------------------------------------------------------------------|

| (2)   | Previously filed as part of Schedule 14A on August 5, 2005 |
|-----------------|------------------------------------------------------------|

| (3)   | Previously filed as an exhibit to Form S-8 on February 8, 2008 |
|-----------------|----------------------------------------------------------------|

| (4)   | Previously filed as an exhibit to Form 10-KSB on June 22, 2004 |
|-----------------|----------------------------------------------------------------|

----

|   | Title: | Chief  Executive Officer, President and Chairman |
|--------|--------|------------------------------------------------------------|

----

----

----

|   | GROWBLOX SCIENCES, INC. |
|--------|-------------------------|

| Assets                                                                                                                                                             |   |      |       |   |      |   |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|-----------|------------|--------|-----------|--------|
|                                                                                                                                                               |   | March 31, |       |   | March 31, |   |
|                                                                                                                                                               |   | 2014      |       |   | 2013      |   |
|                                                                                                                                                               |   |      |       |   |      |   |
| Current assets:                                                                                                                                                    |   |      |       |   |      |   |
| Cash                                                                                                                                                               |   | $         | 339,327    |   |      | $      | 2,427 |   |
| Subscription Receivable                                                                                                                                            |   |      | 150,000    |   |      |   | - |   |
| Debt issuance costs                                                                                                                                                |   |      | -          |   |      |   | 3,963 |   |
| Prepaid expenses and other current assets                                                                                                                          |   |      | -          |   |      |   | 100 |   |
|                                                                                                                                                               |   |      |       |   |      |   |   |   |
| Total current assets                                                                                                                                               |   |      | 489,327    |   |      |   | 6,490 |   |
|                                                                                                                                                               |   |      |       |   |      |   |   |   |
|                                                                                                                                                               |   |      |       |   |      |   |   |   |
| Property and Equipment, net                                                                                                                                        |   |      | 44,922     |   |      |   | 128 |   |
| Intangibles, net                                                                                                                                                   |   |      | 3,735      |   |      |   | - |   |
|                                                                                                                                                               |   |      |       |   |      |   |   |   |
| Total assets                                                                                                                                                       |   | $         | 537,984    |   |      | $      | 6,618 |   |
|                                                                                                                                                               |   |      |       |   |      |   |   |   |
| Liabilities and Stockholders’ Equity (Deficiency)                                                                                                            |   |      |       |   |      |   |   |   |
|                                                                                                                                                               |   |      |       |   |      |   |   |   |
| Current liabilities:                                                                                                                                               |   |      |       |   |      |   |   |   |
| Accounts payable                                                                                                                                                   |   | $         | 19,762     |   |      | $      | 11,886 |   |
| Subscriptions payable                                                                                                                                              |   |      | 10,000     |   |      |   | - |   |
| Accrued interest                                                                                                                                                   |   |      | 252,304    |   |      |   | 208,088 |   |
| Other accrued expenses                                                                                                                                             |   |      | 1,847      |   |      |   | 45,751 |   |
| Notes from shareholders                                                                                                                                            |   |      | 5,000      |   |      |   | - |   |
| Convertible notes from shareholders                                                                                                                                |   |      | 328,693    |   |      |   | 442,750 |   |
| Convertible notes from shareholders, at fair value                                                                                                                 |   |      | 933,748    |   |      |   | 227,521 |   |
| Derivative liability, at fair value                                                                                                                                |   |      | -          |   |      |   | 260,311 |   |
|                                                                                                                                                               |   |      |       |   |      |   |   |   |
| Total current liabilities                                                                                                                                          |   |      | 1,551,354  |   |      |   | 1,196,307 |   |
|                                                                                                                                                               |   |      |       |   |      |   |   |   |
| Commitments and contingencies                                                                                                                                      |   |      | -          |   |      |   | - |   |
|                                                                                                                                                               |   |      |       |   |      |   |   |   |
| Stockholders’ equity (deficiency):                                                                                                                           |   |      |       |   |      |   |   |   |
| Common stock, $0.0001 par value, 250,000,000 shares authorized 7,268,948 and 850,110  shares issued and outstanding at March 31, 3014 and March 31, 2013 |   |      | 727        |   |      |   | 85 |   |
| Additional paid-in capital                                                                                                                                         |   |      | 5,198,659  |   |      |   | 4,367,028 |   |
| Deficit accumulated related to abandoned activities                                                                                                                |   |      | (1,676,223 | )      |      |   | (1,676,223 | ) |
| Deficit accumulated during development stage                                                                                                                       |   |      | (4,536,533 | )      |      |   | (3,880,579 | ) |
|                                                                                                                                                               |   |      |       |   |      |   |   |   |
| Total stockholders’ equity (deficiency)                                                                                                                      |   |      | (1,013,370 | )      |      |   | (1,189,689 | ) |
|                                                                                                                                                               |   |      |       |   |      |   |   |   |
| Total liabilities and stockholders’ equity (deficiency)                                                                                                      |   | $         | 537,984    |   |      | $      | 6,618 |   |

----

|                                                                    |   |   |     |       |   |   |
|-------------------------------------------------------------------------|--------|--------|----------|------------|--------|--------|
|                                                                    |   |   |     |       |   |   |
|                                                                    | 2014   |   |     |  2013 |   |
| Net revenue                                                             |   | $      | -        |       |   | $      | - |   |
|                                                                    |   |   |     |       |   |   |   |   |
| Cost of revenue                                                         |   |   | -        |       |   |   | - |   |
|                                                                    |   |   |     |       |   |   |   |   |
| Gross profit (loss)                                                     |   |   | -        |       |   |   | - |   |
|                                                                    |   |   |     |       |   |   |   |   |
|                                                                    |   |   |     |       |   |   |   |   |
| Loss on oil and gas properties                                          |   |   | -        |       |   |   | 36,000 |   |
| Stock compensation                                                      |   |   | -        |       |   |   | - |   |
| Investor relations                                                      |   |   | -        |       |   |   | - |   |
| General and administrative expenses                                     |   |   | 187,760  |       |   |   | 75,718 |   |
|                                                                    |   |   |     |       |   |   |   |   |
| Loss from continuing operations                                         |   |   | (187,760 | )          |   |   | (111,718 | ) |
|                                                                    |   |   |     |       |   |   |   |   |
| Other income/(expense)                                                  |   |   |     |       |   |   |   |   |
|      Change in fair value of convertible notes |   |   | 65,235   |       |   |   | 101,701 |   |
|      Change in fair value of warrants          |   |   | 78,385   |       |   |   | 97,575 |   |
|      Loss on extinguishment of debt            |   |   | (559,048 | )          |   |   | - |   |
|      Loss on loan modification                 |   |   | -        |       |   |   | - |   |
|      Interest expense                          |   |   | (52,767  | )          |   |   | (51,408 | ) |
|                                                                    |   |   |     |       |   |   |   |   |
| Total other income/(expenses)                                           |   |   | (468,195 | )          |   |   | 147,868 |   |
|                                                                    |   |   |     |       |   |   |   |   |
| Net income/(loss)                                                       |   | $      | (655,955 | )          |   | $      | 36,150 |   |
|                                                                    |   |   |     |       |   |   |   |   |
| Weighted average common shares outstanding – basic and diluted    |   |   | 940,723  |       |   |   | 966,858 |   |
|                                                                    |   |   |     |       |   |   |   |   |
| Net loss per share - basic and diluted                                  |   | $      | (0.70    | )          |   | $      | 0.04 |   |

----

|                                              |   |         |    |   |    |   |   |       |   |   | Deficit     |   |   | Deficit     |       |   |   |   |
|---------------------------------------------------|--------|--------------|---------|--------|---------|--------|--------|------------|--------|--------|-------------|--------|--------|-------------|------------|--------|--------|--------|
|                                              |   |         |    |   |    |   |   |       |   |   | Accumulated |   |   | Accumulated |       |   |   |   |
|                                              |   |         |    |   |    |   |   | Additional |   |   | Related to  |   |   | During      |       |   |   |   |
|                                              |   | Common stock |    |   | Paid-in |   |   | Abandoned  |   |   | Exploration |   |   |        |       |
|                                              |   | Shares       |    |   | Amount  |   |   | Capital    |   |   | Activities  |   |   | Stage       |       |   | Total  |   |
| Balance, March 1, 2008                            |   |         | 88,682  |   |    | $      | 9      |       |   | $      | 1,469,728   |   |   | $           | (1,676,223 | )      |   | $      | - |   |   | $ | (206,486 | ) |
|                                              |   |         |    |   |    |   |   |       |   |   |        |   |   |        |       |   |   |   |   |   |   |   |   |   |
| Net loss                                          |   |         | -       |   |    |   | -      |       |   |   | -           |   |   |        | -          |   |   |   | (9,845 | ) |   |   | (9,845 | ) |
|                                              |   |         |    |   |    |   |   |       |   |   |        |   |   |        |       |   |   |   |   |   |   |   |   |   |
| Balance, March 31, 2008                           |   |         | 88,682  |   |    | $      | 9      |       |   | $      | 1,469,728   |   |   | $           | (1,676,223 | )      |   |   | (9,845 | ) |   | $ | (216,331 | ) |
|                                              |   |         |    |   |    |   |   |       |   |   |        |   |   |        |       |   |   |   |   |   |   |   |   |   |
| Issuance of stock as compensation, in March 2009  |   |         | 1,033   |   |    |   | -      |       |   |   | 516         |   |   |        | -          |   |   |   | - |   |   |   | 516 |   |
|                                              |   |         |    |   |    |   |   |       |   |   |        |   |   |        |       |   |   |   |   |   |   |   |   |   |
| Loss on loan modification                         |   |         | -       |   |    |   | -      |       |   |   | 202,500     |   |   |        | -          |   |   |   | - |   |   |   | 202,500 |   |
|                                              |   |         |    |   |    |   |   |       |   |   |        |   |   |        |       |   |   |   |   |   |   |   |   |   |
| Net loss                                          |   |         | -       |   |    |   | -      |       |   |   | -           |   |   |        | -          |   |   |   | (341,967 | ) |   |   | (341,967 | ) |
|                                              |   |         |    |   |    |   |   |       |   |   |        |   |   |        |       |   |   |   |   |   |   |   |   |   |
| Balance, March 31, 2009                           |   |         | 89,714  |   |    | $      | 9      |       |   | $      | 1,672,744   |   |   | $           | (1,676,223 | )      |   | $      | (351,812 | ) |   | $ | (355,282 | ) |
|                                              |   |         |    |   |    |   |   |       |   |   |        |   |   |        |       |   |   |   |   |   |   |   |   |   |
| Issuance of stock for debt conversions            |   |         | 216,225 |   |    |   | 22     |       |   |   | 21,600      |   |   |        | -          |   |   |   | - |   |   |   | 21,622 |   |
|                                              |   |         |    |   |    |   |   |       |   |   |        |   |   |        |       |   |   |   |   |   |   |   |   |   |
| Compensation expense – employment contracts |   |         | 387,300 |   |    |   | 38     |       |   |   | 1,031,002   |   |   |        | -          |   |   |   | - |   |   |   | 1,031,040 |   |
|                                              |   |         |    |   |    |   |   |       |   |   |        |   |   |        |       |   |   |   |   |   |   |   |   |   |
| Compensation expense – stock option         |   |         | -       |   |    |   | -      |       |   |   | 984,600     |   |   |        | -          |   |   |   | - |   |   |   | 984,600 |   |
|                                              |   |         |    |   |    |   |   |       |   |   |        |   |   |        |       |   |   |   |   |   |   |   |   |   |
| Compensation expense – consulting           |   |         | 8,014   |   |    |   | 1      |       |   |   | 89,256      |   |   |        | -          |   |   |   | - |   |   |   | 89,257 |   |
|                                              |   |         |    |   |    |   |   |       |   |   |        |   |   |        |       |   |   |   |   |   |   |   |   |   |
| Beneficial conversion features                    |   |         | -       |   |    |   | -      |       |   |   | 133,000     |   |   |        | -          |   |   |   | - |   |   |   | 133,000 |   |
|                                              |   |         |    |   |    |   |   |       |   |   |        |   |   |        |       |   |   |   |   |   |   |   |   |   |
| Loss on loan modification                         |   |         | -       |   |    |   | -      |       |   |   | 258,441     |   |   |        | -          |   |   |   | - |   |   |   | 258,441 |   |
|                                              |   |         |    |   |    |   |   |       |   |   |        |   |   |        |       |   |   |   |   |   |   |   |   |   |
| Net loss                                          |   |         | -       |   |    |   | -      |       |   |   | -           |   |   |        | -          |   |   |   | (2,964,861 | ) |   |   | (2,964,861 | ) |
|                                              |   |         |    |   |    |   |   |       |   |   |        |   |   |        |       |   |   |   |   |   |   |   |   |   |
| Balance, March 31, 2010                           |   |         | 701,253 |   |    | $      | 70     |       |   | $      | 4,190,643   |   |   | $           | (1,676,223 | )      |   | $      | (3,316,673 | ) |   | $ | (802,183 | ) |
|                                              |   |         |    |   |    |   |   |       |   |   |        |   |   |        |       |   |   |   |   |   |   |   |   |   |
|                                              |   |         |    |   |    |   |   |       |   |   |        |   |   |        |       |   |   |   |   |   |   |   |   |   |
| Compensation expense – consulting           |   |         | 6,000   |   |    |   | 1      |       |   |   | 62,399      |   |   |        | -          |   |   |   | - |   |   |   | 62,400 |   |
|                                              |   |         |    |   |    |   |   |       |   |   |        |   |   |        |       |   |   |   |   |   |   |   |   |   |
| Legal Retainer                                    |   |         | 2,857   |   |    |   | -      |       |   |   | 10,000      |   |   |        | -          |   |   |   | - |   |   |   | 10,000 |   |
|                                              |   |         |    |   |    |   |   |       |   |   |        |   |   |        |       |   |   |   |   |   |   |   |   |   |
| Net loss                                          |   |         | -       |   |    |   | -      |       |   |   | -           |   |   |        | -          |   |   |   | (585,293 | ) |   |   | (585,293 | ) |
|                                              |   |         |    |   |    |   |   |       |   |   |        |   |   |        |       |   |   |   |   |   |   |   |   |   |
| Balance, March 31, 2011                           |   |         | 710,110 |   |    | $      | 710    |       |   | $      | 4,263,042   |   |   | $           | (1,676,223 | )      |   | $      | (3,901,966 | ) |   | $ | (1,315,076 | ) |

|                                      |   |   |       |   |   |   |   |   |   |   |      |   |   |   |       |   |   |   |
|-------------------------------------------|--------|--------|------------|--------|--------|--------|--------|--------|--------|--------|-----------|--------|--------|--------|------------|--------|--------|--------|
| Compensation – employment contracts |   |   | 2,402,682  |   |   |   | 2,40   |   |   |   | (2,40     | )      |   |   | -          |   |   |   | - |   |   |   | - |   |
|                                      |   |   |       |   |   |   |   |   |   |   |      |   |   |   |       |   |   |   |   |   |   |   |   |   |
| Issuance of stock for debt conversions    |   |   | 140,000    |   |   |   | 14     |   |   |   | 103,986   |   |   |   | -          |   |   |   | - |   |   |   | 104,000 |   |
|                                      |   |   |       |   |   |   |   |   |   |   |      |   |   |   |       |   |   |   |   |   |   |   |   |   |
| Net loss                                  |   |   | -          |   |   |   | -      |   |   |   | -         |   |   |   | -          |   |   |   | (14,763 | ) |   |   | (14,763 | ) |
|                                      |   |   |       |   |   |   |   |   |   |   |      |   |   |   |       |   |   |   |   |   |   |   |   |   |
| Balance, March 31, 2012                   |   |   | 32,527,930 |   |   | $      | 3,253  |   |   | $      | 4,363,860 |   |   | $      | (1,676,223 | )      |   | $      | (3,916,729 | ) |   | $ | (1,225,839 | ) |
|                                      |   |   |       |   |   |   |   |   |   |   |      |   |   |   |       |   |   |   |   |   |   |   |   |   |
| Compensation – employment contracts |   |   | (2,402,682 | )      |   |   | (240   | )      |   |   | 240       |   |   |   | -          |   |   |   | - |   |   |   | - |   |
|                                      |   |   |       |   |   |   |   |   |   |   |      |   |   |   |       |   |   |   |   |   |   |   |   |   |
| Sale of stock subscription                |   |   |       |   |   |   | 1      |   |   |   | 11,499    |   |   |   | -          |   |   |   | - |   |   |   | 12,500 |   |
|                                      |   |   |       |   |   |   |   |   |   |   |      |   |   |   |       |   |   |   |   |   |   |   |   |   |
| Return of stock sold                      |   |   |       |   |   |   | (1     | )      |   |   | (11,499   | )      |   |   | -          |   |   |   | - |   |   |   | (12,500 | ) |
|                                      |   |   |       |   |   |   |   |   |   |   |      |   |   |   |       |   |   |   |   |   |   |   |   |   |
| Rounding                                  |   |   |       |   |   |   | 1      |   |   |   |      |   |   |   | -          |   |   |   | - |   |   |   | - |   |
|                                      |   |   |       |   |   |   |   |   |   |   |      |   |   |   |       |   |   |   |   |   |   |   |   |   |
| Net income                                |   |   | -          |   |   |   | -      |   |   |   | -         |   |   |   | -          |   |   |   | 36,150 |   |   |   | 36,150 |   |
|                                      |   |   |       |   |   |   |   |   |   |   |      |   |   |   |       |   |   |   |   |   |   |   |   |   |
| Balance, March 31, 2013                   |   |   | 850,110    |   |   | $      | 85     |   |   | $      | 4,367,028 |   |   | $      | (1,676,223 | )      |   | $      | (3,880,579 | ) |   | $ | (1,189,689 | ) |
|  Fractional share from stock split   |   |   | 157        |   |   |   | -      |   |   |   | -         |   |   |   | -          |   |   |   | - |   |   |   | - |   |
|                                      |   |   |       |   |   |   |   |   |   |   |      |   |   |   |       |   |   |   |   |   |   |   |   |   |
| Asset acquisition                         |   |   | 4,500,000  |   |   |   | 450    |   |   |   | 33,317    |   |   |   | -          |   |   |   | - |   |   |   | 33,467 |   |
|                                      |   |   |       |   |   |   |   |   |   |   |      |   |   |   |       |   |   |   |   |   |   |   |   |   |
| Sale of stock subscription                |   |   | 1,480,000  |   |   |   | 148    |   |   |   | 739,852   |   |   |   | -          |   |   |   | - |   |   |   | 740,000 |   |
|                                      |   |   |       |   |   |   |   |   |   |   |      |   |   |   |       |   |   |   |   |   |   |   |   |   |
| Issuance of stock for debt conversion     |   |   | 438,681    |   |   |   | 44     |   |   |   | 114,013   |   |   |   | -          |   |   |   | - |   |   |   | 114,057 |   |
|                                      |   |   |       |   |   |   |   |   |   |   |      |   |   |   |       |   |   |   |   |   |   |   |   |   |
| Stock issuance costs                      |   |   | -          |   |   |   | -      |   |   |   | (55,250   | )      |   |   | -          |   |   |   | - |   |   |   | (55,250 | ) |
|                                      |   |   |       |   |   |   |   |   |   |   |      |   |   |   |       |   |   |   |   |   |   |   |   |   |
| Rounding                                  |   |   |       |   |   |   |   |   |   |   | (1   | )      |   |   |       |   |   |   | 1  |   |   |   |   |   |
|                                      |   |   |       |   |   |   |   |   |   |   |      |   |   |   |       |   |   |   |   |   |   |   |   |   |
| Net loss                                  |   |   | -          |   |   |   | -      |   |   |   | -         |   |   |   | -          |   |   |   | (655,955 | ) |   |   | (655,955 | ) |
|                                      |   |   |       |   |   |   |   |   |   |   |      |   |   |   |       |   |   |   |   |   |   |   |   |   |
| Balance, March 31, 2014                   |   |   | 7,268,948  |   |   | $      | 727    |   |   | $      | 5,615,193 |   |   | $      | (1,676,223 | )      |   | $      | (4,536,533 | ) |   | $ | (1,013,370 | ) |

----

|                                                                                                                                                                                                                                                                                                                                                                                                                                            |   |   |     |   |   |   |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------|----------|--------|--------|--------|
|  Cash flows from operating activities:                                                                                                                                                                                                                                                                                                                                                                                                     |   |   |     |   |   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                            |   |   | 2014     |   |   |   | 2013  |   |
| Net loss                                                                                                                                                                                                                                                                                                                                                                                                                                        |   | $      | (655,955 | )      |   | $      | 36,150 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                            |   |   |     |   |   |   |   |   |
| Adjustments to reconcile net loss to net cash used in                                                                                                                                                                                                                                                                                                                                                                                           |   |   |     |   |   |   |   |   |
| operating activities:                                                                                                                                                                                                                                                                                                                                                                                                                           |   |   |     |   |   |   |   |   |
| Depreciation expense                                                                                                                                                                                                                                                                                                                                                                                                                            |   |   | 128      |   |   |   | 300 |   |
| Amortization expense                                                                                                                                                                                                                                                                                                                                                                                                                            |   |   | 10       |   |   |   | - |   |
| Loss on oil and gas assets                                                                                                                                                                                                                                                                                                                                                                                                                      |   |   | -        |   |   |   | 36,000 |   |
| Stock compensation                                                                                                                                                                                                                                                                                                                                                                                                                              |   |   | -        |   |   |   | - |   |
| Loss on loan modification                                                                                                                                                                                                                                                                                                                                                                                                                       |   |   | -        |   |   |   | - |   |
| Loss on extinguishment of debt                                                                                                                                                                                                                                                                                                                                                                                                                  |   |   | 559,048  |   |   |   | - |   |
| Change in fair value of convertible notes                                                                                                                                                                                                                                                                                                                                                                                                       |   |   | (65,235  | )      |   |   | (101,701 | ) |
|  Change in fair value of warrants                                                                                                                                                                                                                                                                                                                                                                                                          |   |   | (78,385  | )      |   |   | (97,575 | ) |
| Non-cash interest                                                                                                                                                                                                                                                                                                                                                                                                                               |   |   | 8,552    |   |   |   | 7,317 |   |
| Changes in operating assets and liabilities:                                                                                                                                                                                                                                                                                                                                                                                                    |   |   |     |   |   |   |   |   |
|                                                                Other assets                                               |   |   | -        |   |   |   | 350 |   |
|                                                                Accounts payable                                           |   |   | 7,875    |   |   |   | 5,327 |   |
|                                                                Stock subscription payable                            |   |   | 10,000   |   |   |   |   |   |
|                                                                Accrued expenses                                           |   |   | 312      |   |   |   | 76,385 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                            |   |   |     |   |   |   |   |   |
| Net cash used in operating activities                                                                                                                                                                                                                                                                                                                                                                                                           |   |   | (213,650 | )      |   |   | (37,447 | ) |
|                                                                                                                                                                                                                                                                                                                                                                                                                                            |   |   |     |   |   |   |   |   |
| Cash flows from investing activities:                                                                                                                                                                                                                                                                                                                                                                                                           |   |   |     |   |   |   |   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                            |   |   |     |   |   |   |   |   |
|                                                                  Investment in oil and gas properties           |   |   | -        |   |   |   | - |   |
|                                                                  Purchase of property and equipment        |   |   | (15,200  | )      |   |   | - |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                            |   |   |     |   |   |   |   |   |
|                                                                  Net cash used in investing activities          |   |   | (15,200  | )      |   |   | - |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                            |   |   |     |   |   |   |   |   |
| Cash flows from financing activities:                                                                                                                                                                                                                                                                                                                                                                                                           |   |   |     |   |   |   |   |   |
|                                                                  Stock subscription receivable             |   |   | (150,000 | )      |   |   | - |   |
|                                                                  Proceeds for sale of stock                     |   |   | 684,750  |   |   |   | - |   |
|                                                                  Proceeds from issuance of debt to stockholders |   |   | 31,000   |   |   |   | 37,700 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                            |   |   |     |   |   |   |   |   |
|                                                                  Net cash provided by financing activities      |   |   | 715,750  |   |   |   | 37,700 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                            |   |   |     |   |   |   |   |   |
| Net increase (decrease) in cash                                                                                                                                                                                                                                                                                                                                                                                                                 |   |   | 336,900  |   |   |   | 253 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                            |   |   |     |   |   |   |   |   |
| Cash, beginning of year                                                                                                                                                                                                                                                                                                                                                                                                                         |   | $      | 2,427    |   |   | $      | 2,174 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                            |   |   |     |   |   |   |   |   |
| Cash, end of year                                                                                                                                                                                                                                                                                                                                                                                                                               |   | $      | 339,327  |   |   | $      | 2,427 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                            |   |   |     |   |   |   |   |   |
|   Supplemental disclosures of cash flow information:                                                                                                                                                                                                                                                                                                                                                                                  |   |   |     |   |   |   |   |   |
| Cash paid during the year for:                                                                                                                                                                                                                                                                                                                                                                                                                  |   |   |     |   |   |   |   |   |
| Interest                                                                                                                                                                                                                                                                                                                                                                                                                                        |   | $      | -        |   |   | $      | - |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                            |   |   |     |   |   |   |   |   |
|     Non-cash investing and financing activities:                                                                                                                                                                                                                                                                                                                                                                            |   |   |     |   |   |   |   |   |
| Stock issued for intangible assets                                                                                                                                                                                                                                                                                                                                                                                                              |   | $      | 33,467   |   |   | $      | - |   |
| Stock issued for legal retainer included in other assets                                                                                                                                                                                                                                                                                                                                                                                        |   | $      | -        |   |   | $      | - |   |
| Convertible debt issued for oil and gas lease agreements                                                                                                                                                                                                                                                                                                                                                                                        |   | $      | -        |   |   | $      | - |   |
| Stock issued to settle convertible debt                                                                                                                                                                                                                                                                                                                                                                                                         |   | $      | 114,057  |   |   | $      | - |   |
| Stock issued to settle interest expense                                                                                                                                                                                                                                                                                                                                                                                                         |   | $      | -        |   |   | $      | - |   |

----

----

----

|                                               |   | Fair Value Measurements March 31, 2014      |   |   |    |   |
|----------------------------------------------------|--------|---------------------------------------------|--------|--------|---------|--------|
|                                               |   | Level 1                                     |   |   | Level 2 |   |   | Level 3 |   |   | Total |   |
| Convertible notes from stockholders, at fair value |   | $                                           | -      |   |    | $      | - |   |   | $ | - |   |   | $ | - |   |
| Derivative liability                               |   | $                                           | -      |   |    | $      | - |   |   | $ | - |   |   | $ | - |   |
|                                               |   |  Fair Value Measurement March 31, 2013 |   |   |    |   |   |
|                                               |   | Level 1                                     |   |   | Level 2 |   |   | Level 3 |   |   | Total |   |
| Convertible notes from stockholders, at fair value |   | $                                           | -      |   |    | $      | - |   |   | $ | 227,521 |   |   | $ | 227,521 |   |
| Derivative liability                               |   | $                                           | -      |   |    | $      | - |   |   | $ | 260,311 |   |   | $ | 260,311 |   |

|                                                                   |   | Convertible Notes |     |   | Derivative Liability |   |     | Total  |   |
|------------------------------------------------------------------------|--------|-------------------|----------|--------|----------------------|--------|----------|--------|--------|
|                                                                   |   |              |     |   |                 |   |     |   |   |
| Balance, March 31, 2012                                                |   | $                 | 308,255  |   |                 | $      | 334,497  |   |   | $ | 308,255 |   |
| Realized and unrealized gains (losses);                                |   |              |     |   |                 |   |     |   |   |   |   |   |
|       Included in other income (expense) |   |              | (101,701 | )      |                 |   | (97,575  | )      |   |   | (199,276 | ) |
| Purchases, issuances, and settlements                                  |   |              | 20,967   |   |                 |   | 23,389   |   |   |   | (44,356 | ) |
| Balance, March 31, 2013                                                |   | $                 | 227,521  |   |                 | $      | 260,311  |   |   | $ | 487,832 |   |
|                                                                   |   |              |     |   |                 |   |     |   |   |   |   |   |
| Realized and unrealized gains (losses);                                |   |              | 65,235   |   |                 |   | 78,385   |   |   |   | 143,720 |   |
|       Included in other income (expense) |   |              | 756,719  |   |                 |   | (197,671 | )      |   |   | 559,048 |   |
| Purchases, issuances, and settlements                                  |   |              | 14,843   |   |                 |   | 15,745   |   |   |   | 30,588 |   |
| Balance, March 31, 2014                                                |   | $                 | 933,748  |   |                 | $      | -        |   |   | $ | 933,748 |   |

----

| Deferred tax assets:                                                                                               |   | 2014   |       |   | 2013   |   |
|--------------------------------------------------------------------------------------------------------------------|--------|--------|------------|--------|--------|--------|
| Net operating loss carryforward                                                                                    |   | $      | 1,674,000  |   |   | $      | 1,583,000 |   |
|                Stock based compensation |   |   | -          |   |   |   | - |   |
| Total deferred tax assets                                                                                          |   |   | 1,674,000  |   |   |   | 1,583,000 |   |
| Less valuation allowance                                                                                           |   |   | (1,674,000 | )      |   |   | (1,583,000 | ) |
|  Net deferred tax asset                                                                                       |   | $      | -          |   |   | $      | - |   |

|                                                        |   | 2014   |     |   | 2013   |   |
|-------------------------------------------------------------|--------|--------|----------|--------|--------|--------|
| Tax benefit computed at U.S. statutory rates                |   | $      | (229,000 | )      |   | $      | (205,000 | ) |
|                                                        |   |   |     |   |   |   |   |   |
| Increases (decreases) in taxes resulting from:              |   |   |     |   |   |   |   |   |
|      Non-deductible items          |   |   | 145,000  |   |   |   | 22,000 |   |
|      Change in valuation allowance |   |   | 91,000   |   |   |   | 198,000 |   |
|      State taxes                   |   |   | (7,000   | )      |   |   | (15,000 | ) |
| Total                                                       |   | $      | -        |   |   | $      | - |   |

----

|                         |   | For the year ended March 31, 2014 |    |   | For the year ended March 31, 2013 |   |
|------------------------------|--------|-----------------------------------|---------|--------|-----------------------------------|--------|
|                         |   | Convertible Notes                 |    |   | Accrued Interest                  |   |   | Convertible Notes |   |   | Accrued Interest |   |
| Balance, beginning of period |   | $                                 | 442,750 |   |                              | $      | 208,088 |   |   | $ | 446,750 |   |   | $ | 163,998 |   |
| Conversion to common stock   |   |                              | 114,057 |   |                              |   | - |   |   |   | - |   |   |   | - |   |
| Accrued interest             |   |                              | -       |   |                              |   | 44,216 |   |   |   | - |   |   |   | 44,090 |   |
| Balance, end of period       |   | $                                 | 328,693 |   |                              | $      | 252,304 |   |   | $ | 442,750 |   |   | $ | 208,088 |   |

|                                   |   |                 |        |   |           |   |
|----------------------------------------|--------|----------------------|-------------|--------|----------------|--------|
|                                   |   | Warrants Outstanding |        |
|                                   |   | Number of Shares     |        |   | Exercise Price |   |
| Outstanding at March 31, 2012          |   |                 | 11,921,206  |   |           | $      | 0.15-$0.10 |   |
|   Warrants issued            |   |                 | 443,560     |   |           | $      | 0.15 |   |
|   Warrants exercised         |   |                 | -           |   |           |   | - |   |
|   Warrants expired/cancelled |   |                 | -           |   |           |   | - |   |
| Outstanding at March 31, 2013          |   |                 | 12,364,766  |   |           | $      | 0.15-$0.10 |   |
|   Warrants issued            |   |                 | 2,960,000   |   |           | $      | 1.00-$2.00 |   |
|   Warrants exercised         |   |                 | -           |   |           |   |   |   |
|   Warrants expired/cancelled |   |                 | (12,364,766 | )      |           |   |   |   |
| Outstanding at March 31, 2014          |   |                 | 2,960,000   |   |           | $      | 1.00-$2.00 |   |

----

| •   | a provisional patent application |
|---------------------|----------------------------------|

| •   | concepts associated with the Mr. Ellins or his associates |
|---------------------|-----------------------------------------------------------|

| •   | trademarks |
|---------------------|------------|

| •   | business plans |
|---------------------|----------------|

| •   | investor presentations and histories |
|---------------------|--------------------------------------|

| •   | websites |
|---------------------|----------|

| •   | trade secrets including without limitation trade secrets involving nutrient mixes |
|---------------------|-----------------------------------------------------------------------------------|

| •   | drawings and digital artwork |
|---------------------|------------------------------|

| •   | raw materials |
|---------------------|---------------|

| •   | production equipment and related assets including without limitation electrical equipment, plastic molds and internal parts |
|---------------------|-----------------------------------------------------------------------------------------------------------------------------|

| •   | proof-of-concept equipment |
|---------------------|----------------------------|

| •   | URL’s |
|---------------------|-------------|

| Equipment                                     |   | $      | 29,722 |   |
|-----------------------------------------------|--------|--------|--------|--------|
| Intangibles (patent, trademarks, URL’s) |   |   | 3,735  |   |
| Total                                         |   | $      | 33,457 |   |

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