Quarterly report pursuant to Section 13 or 15(d)

Note 2 - Significant Accounting Policies: Foreign Currency and Comprehensive Income (Policies)

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Note 2 - Significant Accounting Policies: Foreign Currency and Comprehensive Income (Policies)
9 Months Ended
Dec. 31, 2015
Policies  
Foreign Currency and Comprehensive Income

Foreign Currency and Comprehensive Income

 

The functional currency of the Company and its subsidiaries in the U.S. and Canada are the U.S. Dollar (“USD”) and the Canadian Dollar (“CAD”), respectively. The Company’s financial statements were translated to USD using period-end exchange rates for the balance sheet, and average exchange rates for the statements of operations.  Equity transactions were translated using historical rates. The period-end exchange rates of 0.720900 and 0.788786 were used to convert the Company’s December 31, 2015 and March 31, 2015 balance sheets, respectively, and the statements of operations used weighted average rates of 0.775800 and 0.918000 for the nine months ended December 31, 2015 and 2014, respectively. All amounts in the financial statements and footnotes are presented in USD, unless otherwise identified.

 

Foreign currency translation gains or losses as a result of fluctuations in the exchange rates are reflected in the Consolidated Statement of Operations and Comprehensive Income.

 

The Company recorded aggregate transaction gains of $428,112 and $0 during the nine months ended December 31, 2015 and 2014, respectively.