10-Q

United States

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 10-Q

QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d)

OF THE SECURITIES EXCHANGE ACT OF 1934

For the Quarterly Period Ended June 30, 2016

Commission File Number 0-20791

AMARILLO BIOSCIENCES, INC.

(Exact name of registrant as specified in its charter)

TEXAS	75-1974352
(State or other jurisdiction of incorporation or organization)	(IRS Employer Identification No.)
4134 Business Park Drive, Amarillo, Texas 79110
(Address of principal executive offices) (Zip Code)
(806) 376-1741
(Issuer's telephone number, including area code)

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. [√ ] Yes   [ ] No

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of "large accelerated filer," "accelerated filer" and "smaller reporting company" in Rule 12b-2 of the Exchange Act.

Large accelerated filer [ ]	Accelerated filer [ ]
Non-accelerated filer [ ] (do not check if smaller reporting company)	Smaller reporting company [√]

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act)[ ] Yes   [√] No

As of August 18, 2015 there were 21,394,810 shares of the issuer's common stock outstanding.

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AMARILLO BIOSCIENCES, INC.

INDEX

		PAGE NO.
PART I:	FINANCIAL INFORMATION
ITEM 1.	Financial Statements
	Balance Sheets– June 30, 2016 and December 31, 2015 (unaudited)	3
	Statements of Operations – Three and Six Months Ended June 30, 2016 and 2015 (unaudited)	4
	Condensed Statements of Cash Flows – Six Months Ended June 30, 2016 and 2015 (unaudited)	5
	Notes to Financial Statements (unaudited)	6
ITEM 2.	Management's Discussion and Analysis of Financial Condition and Results of Operations	10
ITEM 3.	Quantitative and Qualitative Disclosures About Market Risk.	14
ITEM 4.	Controls and Procedures	17
PART II:	OTHER INFORMATION
ITEM 1.	Legal Proceedings	17
ITEM 2.	Unregistered Sales of Equity Securities and Use of Proceeds	18
ITEM 3.	Defaults Upon Senior Securities	19
ITEM 4.	Mine Safety Disclosures	19
ITEM 5.	Other Information	19
ITEM 6.	Exhibits……………………………………………………………	19
Signatures		20

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PART I - FINANCIAL INFORMATION

ITEM 1. Financial Statements

Amarillo Biosciences, Inc.

Balance Sheets

(Unaudited)

	June 30, 2016			December 31, 2015
Assets
Current assets:
Cash and cash equivalents	$	312,261		$	21,138
Prepaid expense and other current assets		141,517			18,154
Total current assets		453,778			39,292
Patents, net		84,842			72,105
Property and equipment, net		50,174			5,798
Total assets	$	588,794		$	117,195
Liabilities and Stockholders' Deficit
Current liabilities:
Accounts payable and accrued expenses	$	102,809		$	58,550
Accrued interest - related parties		2,534			1,706
Accounts payable – related parties		-			144,426
Notes payable – related parties		-			384,555
Convertible note payable – related party		791,481			-
Total current liabilities		896,824			589,237
Total liabilities		896,824			589,237
Commitments and contingencies
Stockholders' deficit
Preferred stock, $0.01 par value:
Authorized shares - 10,000,000
Issued and outstanding shares – 0 at June 30, 2016 and December 31, 2015		-			-
Common stock, $0.01 par value:
Authorized shares - 100,000,000
Issued and outstanding shares – 21,394,810 and 20,144,810 at June 30, 2016 and December 31, 2015, respectively		213,948			201,448
Additional paid-in capital		332,505			(76,872	)
Accumulated deficit		(854,483	)		(596,618	)
Total stockholders' deficit		(308,030	)		(472,042	)
Total liabilities and stockholders' deficit	$	588,794		$	117,195

See accompanying notes to financial statements.

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Amarillo Biosciences, Inc.

Statements of Operations

(Unaudited)

	Three months ended June 30,						Six months ended June 30,
Revenues:	2016				2015		2016				2015
Sales – Herbs	$	-		$	-		$	4,400		$	-
Total revenues		-			-			4,400			-
Cost of revenues:
Product sales		-			-			5,100			-
Total cost of revenues		-			-			5,100			-
Gross Margin		-			-			(700	)		-
Operating expenses:
Research and development expenses		-			-			-			-
Selling, general and administrative expenses		135,127			102,103			255,706			213,921
Total operating expenses		135,127			102,103			255,706			213,921
Operating loss		(135,127	)		(102,103	)		(256,406	)		(213,921	)
Other income (expense)
Interest expense		(1,097	)		(746	)		(1,459	)		(1,017	)
Net loss	$	(136,224	)	$	(102,849	)	$	(257,865	)	$	(214,938	)
Basic and diluted net loss per share	$	(0.01	)	$	(0.01	)	$	(0.01	)	$	(0.01	)
Weighted average shares outstanding – basic and diluted		21,069,535			20,144,810			20,607,173			20,144,810

See accompanying notes to financial statements.

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Amarillo Biosciences, Inc.

Condensed Statements of Cash Flows

(Unaudited)

	Six months ended June 30, 2016			Six months ended June 30, 2015
Net cash provided by (used in) operating activities:	$	(325,120	)	$	(207,426	)
Cash flows from investing activities:
Investment in equipment		(47,686	)		(7,081	)
Investment in patents		(20,446	)		(3,985	)
Net cash used in investing activities		(68,132	)		(11,066	)
Cash flows from financing activities:
Proceeds from private placement offering		421,875			-
Proceeds from convertible note payable – related party		262,500			-
Net cash provided by financing activities		684,375			-
Net change in cash		291,123			(218,492	)
Cash and cash equivalents at beginning of period		21,138			318,556
Cash and cash equivalents at end of period	$	312,261		$	100,064
Supplemental disclosure of cash flow information
Cash paid for interest	$	-		$	-
Cash paid for income taxes	$	-		$	-
Noncash transactions:
Conversion of accounts payable – related party to convertible note payable – related party	$	144,426		$	-
Conversion of notes payable – related party to convertible note payable – related party	$	384,555		$	-

See accompanying notes to financial statements.

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Amarillo Biosciences, Inc.

Notes to Financial Statements

(Unaudited)

1. Organization and Business.  Amarillo Biosciences, Inc. (the "Company" or "Amarillo" or "ABI"), a Texas corporation formed in 1984, is engaged in developing biologics for the treatment of human and animal diseases.  The Company's current focus is research aimed at the treatment of human disease indications, particularly influenza, hepatitis C, thrombocytopenia, and other indications using natural human interferon alpha that is administered in a proprietary low dose oral form.  In addition to the above core technology ABI is exploring the possibility of instituting new revenue streams along with the core technology thus expanding the Company's current focus into a diversified businessportfolio.

2. Basis of presentation. The accompanying financial statements, which should be read in conjunction with the financial statements and footnotes included in the Company's Form 10-K for the year ended December 31, 2015, filed with the Securities and Exchange Commission, are unaudited, but have been prepared in accordance with accounting principles generally accepted in the United States for interim financial information. Accordingly, they do not include all of the information and footnotes required by accounting principles generally accepted in the United States for complete financial statements. In the opinion of management, all adjustments (consisting only of normal recurring adjustments) considered necessary for a fair presentation have been included.  Operating results for the six months ended June 30, 2016 are not necessarily indicative of the results that may be expected for the full year ending December 31, 2016.

3. Financial Condition.  These financial statements have been prepared in accordance with United States generally accepted accounting principles, on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities and commitments in the normal course of business. The Company has not yet achieved operating income, and its operations are funded primarily from debt and equity financings. However, losses are anticipated in the ongoing development of its business and there can be no assurance that the Company will be able to achieve or maintain profitability.

The continuing operations of the Company and the recoverability of the carrying value of assets is dependent upon the ability of the Company to obtain necessary financing to fund its working capital requirements, and upon future profitable operations. The accompanying financial statements do not include any adjustments relative to the recoverability and classification of asset carrying amounts or the amount and classification of liabilities that might result from the outcome of this uncertainty.

There can be no assurance that capital will be available as necessary to meet the Company's working capital requirements or, if the capital is available, that it will be on terms acceptable to the Company. The issuances of additional equity securities by the Company may result in dilution in the equity interests of its current stockholders. Obtaining commercial loans, assuming those loans would be available, will increase the Company's liabilities and future cash commitments. If the Company is unable to obtain financing in the amounts and on terms deemed acceptable, the business and future success may be adversely affected and the Company may cease operations. These factors raise substantial doubt regarding our ability to continue as a going concern.

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4. Common Stock.  The shareholders have authorized 100,000,000 shares of voting common shares for issuance.  On June 30, 2016, a total of 25,714,017 shares of common stock were either outstanding (21,394,810) or reserved for issuance upon exercise of options (8,568) or conversion of convertible debt to stock (4,310,639).

On March 10, 2016, the Board of Directors approved the Company to enter into private placements for the sale of up to 5,000,000 shares of the Company's common stock (Private Placement 2016-2) at a price of $.1875 per share (aggregate offering amount of $937,500).

During the second quarter of 2016, the Company received $421,875 from four (4) individual, outside investors for the purchase of a total of 2,250,000 shares of common stock through the 2016-2 Security Offering which contemplates the sale of a maximum of 5,000,000 shares at a cost of $.1875 per share. The required SEC Form D was filed on May 6, 2016. Subsequent to the Balance Sheet date of June 30, 2016, 1,250,000 shares were issued to three of the four investors.  The remaining 1,000,000 shares for the fourth investor will be issued when the executed Private Placement Memorandum documents are received.

5. Common Stock Options and Warrants.  As of June 30, 2016 there were no shares reserved as unexercised warrants and 8,568 shares reserved as unexercised options. No warrants or options expired in the first six months of 2016.

A summary of the Company's stock option activity and related information for the period ended June 30, 2016 is as follows:

	Options		Price Range
Outstanding December 31, 2015		8,568	$	0.95
Granted		-		-
Cancelled/Expired		-		-
Exercised		-		-
Outstanding June 30, 2016		8,568		0.95
Exercisable June 30, 2016		8,568	$	0.95

A summary of the Company's stock warrant activity and related information for the period ended June 30, 2016

	Warrants		Price Range
Outstanding December 31, 2015		-	$	-
Granted		-		-
Cancelled/Expired		-		-
Exercised		-		-
Outstanding June 30, 2016		-		-
Exercisable June 30, 2016		-	$	-

6. Notes Payable – Related Party.

	June 30, 2016		December 31, 2015
Note payable – related party	$	-	$	234,555
Note payable – related party		-		150,000
		-		384,555
Less: current portion		-		(384,555	)
Notes payable – related party, long term	$	-	$	-

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On November 20, 2014, the Class Three Secured Claim of Yang was deemed allowed in the amount of $150,000, secured by the same assets that secured Yang's prepetition secured claim (See Texas Financing Statement No. 13-0029795076). This claim bears interest at the Applicable Federal Rate, will be fully amortized and paid as follows: four (4) consecutive equal annual installments of combined principal and interest, beginning September 1, 2015, and continuing on the same date of each succeeding year until September 1, 2018, when the obligation is due and payable in full.  The first payment was due on September 1, 2015, in the amount of $37,811 (principal and interest).  To date, no payments have been made and there has been no demand for the payment.

Subsequent to consummation of the Plan, The Yang Group provided $234,555 for post-reorganization financing.  This is unsecured and draws interest at the short term Applicable Federal Rate.  On June 30, 2016, the two debts were consolidated into one convertible promissory note. The convertible promissory note is due on demand, unsecured, bears interest at the Short-Term Applicable Federal Rate of .64% per annum, and is convertible into Amarillo Biosciences, Inc. Common Stock at a price of $.1875 per share.  The amounts owed to The Yang Group after the debts were consolidated totaled $384,555 which represented all amounts then owed to The Yang Group. Those debts along with the associated liens, security interests, and accrued interest were assigned by The Yang Group to Dr. Stephen T. Chen, effective as of June 30, 2016. Subsequent to the assignment, Dr. Chen released the lien (Texas file #13-0029795076) and authorized Amarillo Biosciences, Inc. to file a UCC-3 Amendment Statement terminating the lien.

7. Convertible Notes Payable – Related Party. On July 31, 2015, two investors paid a total of $225,000 for their subscribed investment to the Yang Group for an investment in 1,200,000 shares of ABI common stock. The investors agreed to pay a premium of $0.07 per share over the original cost of the stock, which was $0.12 per share. The Company allocated $144,426 as an Accounts payable – related party to Dr. Chen for his previous advances to the Company through The Yang Group. The remaining $80,574 was recognized as "additional paid in capital" (APIC) during the year ended December 31, 2015.

Shares Subscribed		Purchase Price		Purchase Premium		Total
	200,000	$	24,071	$	13,429	$	37,500
	1,000,000		120,355		67,145		187,500
	1,200,000	$	144,426	$	80,574		225,000
Less: Due to Dr. Stephen Chen							(144,426	)
Additional paid in capital						$	80,574

Subsequently, an offering of $1,000,000 of Convertible Notes was made with a conversion rate of $0.168 per share. The SEC Form D was filed on April 7, 2016, and the first sale was a Convertible Promissory Note for the face amount of $144,426 to Dr. Stephen Chen, who as consideration to the Company, forwent immediate collection of the $144,126 discussed above.

On March 10, 2016, the Board of Directors approved the Company to enter into private placements for the sale of up to $1,000,000 in face amount of the Company's Convertible Promissory Notes (Private Placement 2016-1), payable on demand, and convertible into the Company's common stock at a conversion rate of $.1875 per share.

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During the period ended June 30, 2016, the Company received $250,000 from Dr. Stephen T. Chen for the purchase of Convertible Promissory Notes in connection with a $1,000,000 Private Placement Convertible Note Security Offering entitled Private Placement 2016-1. In addition, Dr. Chen paid $12,500 for the purchase of Convertible Promissory Notes in connection with the same offering.  Both receipts of cash were aggregated and one Convertible Note in the amount of $262,500 was issued to Dr. Chen as of March 18, 2016.  The Note is due on demand, bears interest at the Short-Term Applicable Federal Rate of .65% per annum, and is convertible into Amarillo Biosciences, Inc. Common Stock at a price of $.1875 per share.

On June 30, 2016, a Convertible Promissory Note in the amount of $384,555 was issued to Dr. Stephen T Chen in exchange for the aggregated amounts of the two Notes Payable – Related Party described in Note 6.  The Convertible Note is due on demand, unsecured, bears interest at the Short-Term Applicable Federal Rate of .64% per annum, and is convertible into Amarillo Biosciences, Inc. Common Stock at a stock price of $.1875 per share.

8. Related Party Transactions. Dr. Stephen T. Chen, Chairman, CEO and President, of the Company advanced $75,000 to the Company on a periodic basis between January 18, 2016 and March 18, 2016 to be used for general operations. The $75,000 was classified on the Balance Sheet as Accounts payable – related parties and was paid back to Dr. Chen on April 4, 2016.

On May 23, 2016, Amarillo Biosciences, Inc. ("ABI"), the Principal, entered into an Agency and Service Agreement with ACTS Global Healthcare, Inc. ("ACTS Global"), a Taiwan Corporation, the Agent. ABI advanced ACTS Global "Principal Funds" in the amount of NTD $3,000,000 ($92,218 USD), to be utilized and /or expended by ACTS Global solely as instructed by ABI.  Additional advances may be made by ABI to ACTS Global.  ACTS Global was also engaged by ABI to perform such other business services as may be requested by ABI in the agreed geographic area of Taiwan and the Peoples Republic of China.  For their services, ACTS Global, will be paid by ABI, one percent (1%) of the Principal's services expended by the Agent at the Principal's direction. Any other services rendered by the Agent will be paid for by the Principal based on comparable and/or reasonable values of the service rendered.  As of June 30, 2016, the Company has a balance of $91,718, included in Prepaid Expenses, to be utilized.

9. Subsequent Event. As stated in Note 4, above, during the second quarter of 2016, the Company received $421,875 from four (4) individual, outside investors for the purchase of a total of 2,250,000 shares of common stock through the 2016-2 Security Offering.  On July 11, 2016, 1,250,000 shares were issued to three of the four investors.  The remaining 1,000,000 shares for the fourth investor will be issued when the executed Private Placement Memorandum documents are received.

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ITEM 2.Management's Discussion and Analysis of Financial Condition and Results of Operations

The following discussion should be read in conjunction with our financial statements and the notes thereto which appear elsewhere in this report.  The results shown herein are not necessarily indicative of the results to be expected in any future periods.  This discussion contains forward-looking statements based on current expectations, which involve uncertainties.  Actual results and the timing of events could differ materially from the forward-looking statements as a result of a number of factors.  Readers should also carefully review factors set forth in other reports or documents that we file from time to time with the Securities and Exchange Commission.

Overview. ABI has been (and is) engaged in the business of biopharmaceutical research and development. Its primary focus historically has been the development of low-dose, orally administered interferon. ABI holds or licenses various patents; it also is the developer of Maxisal^®, a dietary supplement to treat dry-mouth symptoms.

Having successfully reorganized, the Company's goal continues to be the expansion of the reach of its research, development, and marketing of biopharmaceutical, biotechnical, health and life science related products.  ABI will continue to leverage its core technology going forward by using its thirty years of scientific and clinical data to establish interferon-alpha lozenges as a therapeutic agent for conditions such as influenza, hepatitis C, and various causes of thrombocytopenia just to name a few.  The Company is committed to expanding its business operations from the currently narrow focus to encompass a wide variety of licensing, partnerships, and development opportunities in the aforementioned sectors. This commitment extends not only to the U.S., but to Taiwan, China, and other Asian Countries.

Assets, Liquidity, and Capital.  ABI holds various patents and related intellectual property, which are described earlier in this document.

At June 30, 2016, we had available cash of $312,261 whereas we had a cash position of $21,138 as of December 31, 2015.  The Company had a working capital deficit of $549,945 at December 31, 2015.  For 2016, the working capital deficit was $443,046.  Historically the burn rate was between $50,000 and $60,000 per month.  It is difficult to estimate the burn rate at this point insomuch as the new budgets are still being developed.  One of the Company's main goals is to return to the status of a going concern by having reduced operating losses and subsequently becoming profitable.  As indicated throughout this document, two other major goals of ABI are to (1) leverage the core technology, low-dose oral interferon, and (2) diversify Company operations to incorporate additional lines of business which will extend the reach of ABI into additional economic sectors such as biotech / bio-pharmaceutical / health care products and life sciences business.  The Yang Group has indicated the willingness to assist in future financing of operations as ABI seeks to monetize its existing (and potentially newly developed) intellectual property. ABI estimates its post-reorganization financing needs to be between $1,000,000 and $1,600,000.

Pending Litigation

To the best of management's knowledge, the Company does not believe that there is any pending litigation against ABI.

Risk Factors

The most significant asset is the Debtor's intellectual property consisting of three patents, one pending patent, and one trademark. One of the patents expires in less than two years and two of

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the patents expire in a range of three to five years. These three patents and the single pending patent employ the Company's core technology, which is the oral, low dosage use of (human) interferon. These patents will not have significant value unless commercialized, which will require adequate funding, time, effort, and expertise in biologics.  As previously stated, ABI's sole source of human interferon discontinued production, which negatively impacted ABI's ability to obtain source product. The anticipated location and development time required for a new source of human interferon along with the requisite testing and FDA approval time could exceed the life span of all of the patents, and even if it does not, would leave relatively little time to derive revenues from the patent protections, prior to patent expiration. The third patent, a product promoting oral health, also is the victim of supply-chain interruption because the supplier of the raw material for the product (anhydrous crystalline maltose, or "ACM") has substantially increased its purchase price. The price increase and other actions have rendered the manufacture and sale of the product less attractive.

It is anticipated that ABI will attempt to monetize and commercialize its existing intellectual property, which would necessitate identification and acquisition of new source product (e.g., Interferon), conducting new trials, and additional protection of intellectual property. It is estimated this may require additional funding (including general administrative cost and professional fees) of between $500,000 and $800,000. Similarly, ABI may explore the acquisition and development of new product lines. The cost to commercialize any such development could likely require a similar funding level, resulting in aggregate funding requirements between $1 million and $1.6 million. These activities, even if undertaken, would not be expected to produce meaningful revenue before the last calendar quarter of 2017, or possibly later.

Tax Consequences

ABI's most recent tax return and financial statements reflect tax attributes that may or may not be obtainable. Some of these tax attributes (e.g., net operating loss carry forwards ("NOL"), if any) are for the benefit of ABI. According to the Company's most recent federal income tax return, the face amount of the NOL was $21,683,436. ABI has not independently verified or otherwise confirmed the favorable nature of such tax attributes or the extent to which any of the NOL can still be used. It is the Company's belief that obtaining the value of such tax attributes may be difficult and directly dependent upon many factors outside of our control, including, but not limited to, changes in the legal and regulatory framework and the operational and corporate structure of ABI and shareholders, or sales or transfers of stock by or among shareholders. For example, if ABI has experienced a change of control as defined in the relevant provisions of the IRC,¹ the use of any existing tax attributes could be severely limited. ABI does not believe the reorganization has or will impair any tax attributes; however, obtaining value from the tax attributes is a function of the Company's return to profitable operations and the timeframe of that return. While we believe it is possible, there is no assurance that ABI will return to profitability in the future.

Equity Funding.  In the six months ending June 30, 2016, 2,250,000 shares of Common Stock have been sold at a price of $0.1875 per share totaling $421,875.  However, as of that date the shares have not yet been issued.

Results of Operations for Quarters Ended June 30, 2016 and 2015:

Revenues.  During the quarters ended June 30, 2016, and June 30, 2015 there were no sales of ginseng samples, dietary supplements or ACM.

¹ See 26 U.S.C. § 382 (known as Section 382 of the IRC) and related regulations.

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Research and Development Expenses. Research and development expenses have not been incurred for the quarters ended June 30, 2016, and June 30, 2015.

Selling, General and Administrative Expenses.  Selling, general and administrative expenses of $135,127 were incurred for the second quarter in 2016, compared to $102,103 for the second quarter of 2015, an increase of $33,024 (32%).  This increase is mostly due to additional salary expense, professional fees, and postage/shipping expenses in 2016.

Operating Loss.  In the three-month period ended June 30, 2016, the Company's operating loss was $135,127 compared to an operating loss for the three-month period ended June 30, 2015 of $102,103, a $33,024 increase. There were more expenses overall during the second quarter of 2016, additional salary expense, professional fees and postage/shipping expense were major contributing factors to the increase.

Interest Expense.  During the three-month period ended June 30, 2016, interest expense was $1,097, compared to $746 for the three-month period ended June 30, 2015.  The interest expense recognized in the second quarter of 2016 is mostly due to accrued interest for our secured and unsecured loans with The Yang Group.

Net Loss. In the three-month period ended June 30, 2016, the Company's net loss was $136,224 compared to a net loss for the three-month period ended June 30, 2015, of $102,849 an $33,375 (32%) increase. This increase was mainly due to additional salary expense, professional fees and postage/shipping expense.

Results of Operations for the Six Months Ended June 30, 2016 and 2015:

Revenues.  During the six months ended June 30, 2016 and June 30, 2015 there were no sales of dietary supplements, or ACM.  During the six months ended June 30, 2016, there were $4,400 in sales of ginseng samples, a potential source of revenue.

Research and Development Expenses. Research and development expenses have not been incurred for the six months ended June 30, 2016, and June 30, 2015.

Selling, General and Administrative Expenses.  Selling, general and administrative expenses of $255,706 were incurred for the first six months of 2016, compared to $213,921 for the first six months of 2015, an increase of $41,785 (20%).  This increase is mostly due to additional salary expense, professional fees, and postage/shipping expenses in 2016.

Net Operating Loss.  In the six month period ended June 30, 2016, the Company's operating loss was $256,406 compared to an operating loss for the six month period ended June 30, 2015 of $213,921, a $42,485 (20%) increase.

Interest Expense.  During the six-month period ended June 30, 2016, interest expense was $1,459, compared to $1,017 for the six-month period ended June 30, 2015, an increase of $442 (43%). The interest expense recognized in the six-month period ended June 30, 2016 is mostly due to accrued interest for our secured and unsecured loans with The Yang Group and interest paid associated with our D&O insurance policy payment.

Net Loss. In the six months ended June 30, 2016, the Company's net loss was $257,865 compared to a net loss for the six months ended June 30, 2015 of $214,938 a $42,927 (20%) increase.

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Liquidity Needs.At June 30, 2016, we had available cash of $312,261 whereas we had a cash position of $21,138 as of December 31, 2015.  The Company had a working capital deficit of $220,588 at the end of June 30, 2015.  For 2016, the working capital deficit was $443,046.  Historically the burn rate was between $50,000 and $60,000 per month.  It is difficult to estimate the burn rate at this point insomuch as the new budgets are still being developed.  One of the Company's main goals is to return to the status of a going concern by having reduced operating losses and subsequently becoming profitable.  As indicated throughout this document,  two other major goals of ABI are to (1) leverage the core technology, low-dose oral interferon, and (2) diversify Company operations to incorporate additional lines of business which will extend the reach of ABI into additional economic sectors such as biotech / bio-pharmaceutical / health care products and life sciences business.  The Yang Group has indicated the willingness to assist in future financing of operations as ABI seeks to monetize its existing (and potentially newly developed) intellectual property. ABI estimates its post-reorganization financing needs to be between $1,000,000 and $1,600,000.

There can be no assurance that we will be successful in our efforts to make the Company profitable.  If those efforts are not successful, we will be forced to cease operations.

Forward-Looking Statements: Certain statements made throughout this document are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Act"). Forward-looking statements include, without limitation, any statement that may predict, forecast, indicate or imply future results, performance, achievements, costs or expenses and may contain words such as "believe," "anticipate," "expect," "estimate," "project," "budget," or words or phrases of similar meaning.  Forward-looking statements involve risks and uncertainties which may cause actual results to differ materially from those projected in the forward-looking statements.  Such risks and uncertainties are detailed from time to time in reports filed by the Company with the Securities and Exchange Commission, including Forms 8-K, 10-Q and 10-K and include among others the following: promulgation and implementation of regulations by the U.S. Food and Drug Administration ("FDA"); promulgation and implementation of regulations by foreign governmental instrumentalities with functions similar to those of the FDA; costs of research and development and trials, including without limitation, costs of clinical supplies, packaging and inserts, patient recruitment, trial monitoring, trial evaluation and publication; and possible difficulties in enrolling a sufficient number of qualified patients for certain clinical trials.  The Company is also dependent upon a broad range of general economic and financial risks, such as possible increases in the costs of employing and/or retaining qualified personnel and consultants and possible inflation which might affect the Company's ability to remain within its budget forecasts. The principal uncertainties to which the Company is presently subject are its inability to ensure that the results of trials performed by the Company will be sufficiently favorable to ensure eventual regulatory approval for commercial sales, its inability to accurately budget at this time the possible costs associated with hiring and retaining of additional personnel, uncertainties regarding the terms and timing of one or more commercial partner agreements and its ability to continue as a going concern.

The risks cited here are not exhaustive. Other sections of this report may include additional factors which could adversely impact the Company's business and future operations. Moreover, the Company is engaged in a very competitive and rapidly changing industry.

New risk factors emerge from time to time and it is not possible for management to predict all such risk factors, nor can it assess the impact of all such risk factors on the Company's business, or the

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extent to which any factor or combination of factors may cause actual results to differ materially from those projected in any forward-looking statements. Given these risks and uncertainties, investors should not place undue reliance on forward-looking statements as a prediction of actual future events.

ITEM 3.Quantitative and Qualitative Disclosures About Market Risk.

We may not be able to adequately protect and maintain our intellectual property. The most significant asset is the Company's intellectual property consisting of three patents, one pending patent, and one trademark. One of the patents expires in less than two years and two of the patents will expire in a range of three to five years. These three patents and the single pending patent employ the Company's core technology, which is the oral, low dosage use of (human) interferon. These patents will not have significant value unless commercialized, which will require adequate funding, time, effort, and expertise in biologics.  As stated earlier, ABI's sole source of human interferon discontinued production, which negatively impacted ABI's ability to obtain source product. The anticipated location and development time required for a new source of human interferon along with the requisite testing and FDA approval time could exceed the life span of the all of the patents, and even if it does not, would leave relatively little time to derive revenues from the patent protections, prior to patent expiration. The third patent, a product promoting oral health, also is the victim of supply-chain interruption because the supplier of the raw material for the product (anhydrous crystalline maltose, or "ACM") has substantially increased its purchase price. The price increase and other actions have rendered the manufacture and sale of the product less attractive.

Constituent members of the Yang Group have recognized the necessity of additional capital infusion to return ABI to profitable operations post-reorganization. This will likely include the advance of debt financing or infusion of additional capital, although Yang members are not obligated to do so, and will consider economic and market factors before making such determination. It is anticipated that ABI will attempt to monetize and commercialize its existing intellectual property, which would necessitate identification and acquisition of new source product (e.g., Interferon), conducting new trials, and additional protection of intellectual property. It is estimated this may require additional funding (including general administrative cost and professional fees) of between $500,000 and $800,000. Similarly, ABI may explore with Yang members the acquisition and development of new product lines to which Yang members may have access. The cost to commercialize any such development could likely require a similar funding level, resulting in aggregate funding requirements between $1 million and $1.6 million. These activities, even if undertaken, would not be expected to produce meaningful revenue before the last calendar quarter of 2017, or possibly later.

We rely on third parties for the supply, manufacture and distribution of our products.  Third parties manufacture and distribute all of our products. Our historical reliance on third parties has left us without a source of natural human interferon which seriously jeopardizes our ability to leverage our core technology.  The Company has been forced to diligently search for a new supply of interferon. Developing a new source of interferon will be very costly and time consuming which will have a profoundly negative impact on the Company's continuing operations. We do not currently have manufacturing facilities or personnel to independently manufacture our products; therefore, third parties would have to manufacture and distribute all of our products.  Licensed distributors located in the United States and internationally, would be required to distribute the products.  Except for any contractual rights and remedies that we might have with potential manufacturers and distributors, we would have no control over the availability of our products,

14

their quality or cost or the actual distribution of our products. If for any reason we were unable to obtain or retain third-party manufacturers and distributors on commercially acceptable terms, we would not be able to produce and distribute our products as planned.  If delays or difficulties were encountered with contract manufacturers in producing or packaging products or with a distributor in distributing our products, the production, distribution, marketing and subsequent sales of these products would be adversely affected, and we would then have to seek alternative sources of supply or distribution or abandon or sell product lines on unsatisfactory terms or even discontinue sales entirely. We may not be able to enter into alternative supply, production or distribution arrangements on commercially acceptable terms, if at all. There can be no assurance that the manufacturer that we have engaged will be able to provide sufficient quantities of these products or that the products supplied will meet our specifications or that our distributor will be able to distribute our products in accordance with our requirements.

Sales revenue, sublicense fees and royalty income are currently nonexistent.  Historically, the Company's primary focus has been to achieve FDA approval of oral interferon for one or more disease indications.  We do not expect any significant sales or royalty revenue in the next several years. We operate at a net loss and current liabilities exceed current assets by $443,046 as of June 30, 2016.

We are dependent on certain key existing and future personnel.  Our ability to continue operations will depend, to a large degree, upon the efforts and abilities of our officers and key management employees such as Stephen T. Chen, President, Chairman and Chief Executive Officer, Bernard Cohen, our Vice President and Chief Financial Officer, and Edward Morris, our Corporate Secretary and General Counsel. The loss of the services of one or more of our key employees would have a material adverse effect on our operations. We do not currently maintain key man life insurance on any of our key employees. In addition, as our business plan is implemented, we will need to recruit and retain additional management and key employees in virtually all phases of our operations. We cannot offer assurance that we will be able to successfully attract and retain key personnel. From time to time we contract consultants to advise on certain projects.

If we do not successfully develop, acquire or license new drugs we will not be able to continue operations.  We must invest substantial time, resources and capital in identifying and developing new drugs, dosage and delivery systems, either on our own or by acquiring and licensing such products from third parties. Our growth depends, in part, on our success in such process.  If we are unable to either develop new products on our own or acquire licenses for new products from third parties, our ability to grow revenues and market share will be adversely affected. In addition, we will not be able to recover our investment in the development of new drugs, given that projects may be interrupted, unsuccessful, not as profitable as initially contemplated or we were not be able to obtain necessary financing for such development. Similarly, there is no assurance that we can successfully secure such rights from third parties on an economically feasible basis.

Our competitors are much larger and more experienced than we are and, even if we complete the development of our drugs, we may not be able to successfully compete with them.  The pharmaceutical industry is highly competitive.  Our biologics and low-dose oral interferon alpha applications compete with high dose injectable interferon manufactured by Roche, InterMune, Serano, Biogen, Berlex, Hemispherx and others.  High dose injectable interferon has been widely accepted by the medical community for many years.  Companies who manufacture injectable interferon alpha applications are more established than we are and have far greater financial,

15

technical, research and development, sales and marketing, administrative and other resources than we do.  Even if we successfully complete the development of our tests, we may not be able to compete effectively with these much larger companies and their more established products.

We have been the subject of a going concern opinion by our independent auditors who have raised substantial doubt as to our ability to continue as a going concern.  Our Independent Registered Public Accounting Firm has added an explanatory paragraph to their audit opinion issued in connection with our financial statements as of and for the year ended December 31, 2015 which states that our recurring losses from operations and the need to raise additional financing in order to execute our business plan raise substantial doubt about our ability to continue as a going concern.  We incurred a net loss of $257,865 for the six months ended June 30, 2016 and a net loss of $214,938 for the six months ended June 30, 2015.  The operating loss for the six months ended June 30, 2016 was $256,406.

In addition, as of June 30, 2016 we had an accumulated deficit of $854,483. These factors, among others, raise substantial doubt about our ability to continue as a going concern. Our financial statements do not include any adjustment that might result from the outcome of this uncertainty. Assurances cannot be given that adequate financing can be obtained to meet our capital needs. We have already significantly curtailed operations, and if we are not successful in our efforts to operate the reorganized Company, we will be forced to cease operations.

Risks Related to our Common Stock.  There is only a limited market for our common stock and the price of our common stock may be affected by factors that are unrelated to the performance of our business.  If any of the risks described in these Risk Factors or other unseen risks are realized, the market price of our common stock could be materially adversely affected.  Additionally, market prices for securities of biotechnology and diagnostic companies have historically been very volatile.

The market for these securities has from time to time experienced significant price and volume fluctuations for reasons that are unrelated to the operating performance of any one company. In particular, and in addition to the other risks described elsewhere in these Risk Factors, the following factors can adversely affect the market price of our common stock:

· announcements of technological innovation or improved or new diagnostic products by others;

· general market conditions;

· changes in government regulation or patent decisions;

· changes in insurance reimbursement practices or policies for diagnostic products.

Our common shares have traded on the Over the Counter Bulletin Board at prices below $5.00 for several years. As a result, our shares are characterized as "penny stocks" which could adversely affect the market liquidity of our common stock.  The Securities Enforcement and Penny Stock Reform Act of 1990 requires additional disclosure relating to the market for penny stocks in connection with trades in any stock defined as a penny stock. Securities and Exchange Commission regulations generally define a penny stock to be an equity security that has a market price of less than $5.00 per share, subject to certain exceptions. Such exceptions include any equity security listed on NASDAQ or a national securities exchange and any equity security issued by an issuer that has:

16

· net tangible assets in excess of $2,000,000, if such issuer has been in continuous operation for three years;

· net tangible assets in excess of $5,000,000, if such issuer has been in continuous operation for less than three years; or

· average revenue of at least $6,000,000, for the last three years.

Unless an exception is available, the regulations require, prior to any transaction involving a penny stock that a disclosure schedule explaining the penny stock market and the risks associated therewith is delivered to a prospective purchaser of the penny stock. We currently do not qualify for an exception, and, therefore, our common stock is considered to be penny stock and is subject to these requirements.  The penny stock regulations adversely affect the market liquidity of our common shares by limiting the ability of broker/dealers to trade the shares and the ability of purchasers of our common shares to sell in the secondary market.  In addition, certain institutions and investors will not invest in penny stocks.

ITEM 4.                Controls and Procedures

As required by Rule 13a-15 under the Exchange Act, we have carried out an evaluation of the effectiveness of the design and operation of our company's disclosure controls and procedures as of the end of the period covered by this quarterly report, being June 30, 2016. This evaluation was carried out under the supervision and with the participation of our company's management, including our company's chairman of the board and chief executive officer, Dr. Stephen T. Chen and chief financial officer, Bernard Cohen. Our company's disclosure controls and procedures are effective as at the end of the period covered by this report. There have been no significant changes in our company's internal controls or in other factors, which could significantly affect internal controls subsequent to the date we carried out our evaluation.

Disclosure controls and procedures are controls and other procedures that are designed to ensure that information required to be disclosed in our company's reports filed or submitted under the Exchange Act is recorded, processed, summarized and reported, within the time periods specified in the Securities and Exchange Commission's rules and forms. Disclosure controls and procedures include, without limitation, controls and procedures designed to ensure that information required to be disclosed in our company's reports filed under the Exchange Act is accumulated and communicated to management, including our company's president and chief executive officer as appropriate, to allow timely decisions regarding required disclosure.

There have been no changes in internal controls over financial reporting during 2016.

PART II - OTHER INFORMATION

ITEM 1. Legal Proceedings.

From time to time, we may become involved in various lawsuits and legal proceedings which arise in the ordinary course of business. Litigation is subject to inherent uncertainties, and an adverse result in these or other matters may arise from time to time that may harm our business. As of the date of this report, we were not aware of any such legal proceedings or claims against us.

ITEM 2. Unregistered Sales of Equity Securities and Use of Proceeds.

The Company is in the process of conducting two private placements, one of its unregistered Convertible Promissory Notes, and one of its unregistered voting common stock.  Both offerings are still underway, and will be described separately:

17

A. 2016-1 Convertible Promissory Notes:

The Company is offering by private placement its Convertible Promissory Notes in an aggregate face amount not to exceed $1 million ($1,000,000).  The Notes are payable on demand, but also contain the following conversion provision:

"Option to Convert to Maker's Stock:  At any time, and if Maker's common voting stock is then listed or quoted on a trading market or on the OTC BB, Payee shall have the option to convert some or all of the unpaid principal and/or interest to Maker's common voting stock at a conversion price of $0.1875.  The date of conversion shall be the date written notice of conversion, specifying the dollar amount of accrued interest and principal converted, shall have been delivered by Payee to Maker, and such delivery may be by mail, delivery service, or electronically by email to an Executive Officer of Maker.  Upon conversion, Payee shall hold such shares as restricted shares subject to Rule 144 promulgated under the U.S. Securities Act of 1933."

There have been two sales to date.  The first sale occurred on March 18, 2016, when a Convertible Promissory Note (containing the conversion terms set forth above) in the face amount of $262,500 was sold.  The purchaser was Stephen T. Chen, the Company's CEO.  The consideration received by the Company was the forbearance by Dr. Chen of his right to demand from the Company a cash payment of $262,500.  The second sale occurred on June 30, 2016, when another Convertible Promissory Note (containing the conversion terms set forth above) in the face amount of $384,555 was sold.  Stephen T. Chen purchased this note and gave the Company consideration which was forbearance of his right to demand a cash payment of $384,555 from the Company.  In both events, no underwriters were involved, and no underwriting discounts or commissions were given or paid.  The issuance of the Convertible Promissory Notes were exempt from registration under the Securities Act of 1933 (the "Act") pursuant to Rule 506 of Regulation D promulgated thereunder, and the offering met all requirements of an offering described in Rule 506 (b) ("Conditions to be met in offerings subject to limitation on manner of offering").

Date of Sale	Purchaser	Shares Upon Conversion	Consideration
3-18-16	Dr. Stephen T. Chen	533,333	$100,000
3-21-16	Dr. Stephen T. Chen	800,000	$150,000
4-25-16	Dr. Stephen T. Chen	66,667	$12,500

B. 2016-2 Voting Common Stock:

The Company is offering by private placement up to 5,000,000 shares of its Voting Common Stock at a price of $0.1875 per share, for an aggregate offering amount of $937,500.  Sales to date have been:

Date of Sale	Purchaser	Shares Purchased	Consideration
4-25-16	Henvai Wu, M.D.	300,000	$56,250
4-25-16	Sun-Hoo Foo, M.D.	150,000	$28,125
4-25-16	Wui Yuan	800,000	$150,000
4-25-16	Oswald Chan	1,000,000	$187,500

No underwriter was involved, and no underwriting discounts or commissions were given or paid.

18

The consideration received by the Company was cash in the amounts shown.  The issuance of the shares will be exempt from registration under the Securities Act of 1933 (the "Act") pursuant to Rule 506 of Regulation D promulgated thereunder, and the offering met all requirements of an offering described in Rule 506 (b) ("Conditions to be met in offerings subject to limitation on manner of offering").  As of the Balance Sheet date of June 30, 2016, the stock had not been issued.  However, subsequent to that date on July 11, 2016, 1,250,000 shares were issued to three of the four investors.  The remaining 1,000,000 shares for the fourth investor will be issued when the executed Private Placement Memorandum documents are received.

ITEM 3. Defaults Upon Senior Securities.

None

ITEM 4. Mine Safety Disclosures.

Not applicable

ITEM.5. Other Information.

None

ITEM 6. Exhibits.

None

19

SIGNATURES

Pursuant to the requirements of Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

	AMARILLO BIOSCIENCES, INC.
Date:   August 18, 2016	By: /s/ Stephen T. Chen  Stephen T. Chen, Chairman of the Board, and Chief Executive Officer
Date:   August 18, 2016	By: /s/ Bernard Cohen   Bernard Cohen, Vice President, Chief Financial Officer

20

EX-31.1A

EXHIBIT 31.1a

FORM OF CERTIFICATION

PURSUANT TO RULE 13a-14 AND 15d-14

UNDER THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED

CERTIFICATION

I, Stephen T. Chen, certify that:

1.I have reviewed this report on Form 10-Q of Amarillo Biosciences, Inc.;

2.Based on my knowledge, this report does not contain any untrue statement of material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the periods covered by this report;

3.Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4.The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

(a)Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b)Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c)Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

(d)Disclosed in this  report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5.The registrant's other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

(a)All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and

(b)Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date:  August 18, 2016	/s/ Stephen T. Chen
	Name:  Stephen T. Chen Title: Chairman and Chief Executive Officer

EX-31.1B

                     EXHIBIT 31.1b

FORM OF CERTIFICATION

PURSUANT TO RULE 13a-14 AND 15d-14

UNDER THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED

CERTIFICATION

I, Bernard Cohen, certify that

1.I have reviewed this report on Form 10-Q of Amarillo Biosciences, Inc.;

2.Based on my knowledge, this report does not contain any untrue statement of material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the periods covered by this report;

3.Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4.The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

(a)Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b)Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c)Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

(d)Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5.The registrant's other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

(a)All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and

(b)Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date:  August 18, 2016	/s/ Bernard Cohen
	Name:  Bernard Cohen Title: Vice President, Chief Financial Officer

EX-32.1

EXHIBIT 32.1

CERTIFICATION PURSUANT TO

18 U.S.C. SECTION 1350

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report of Amarillo Biosciences, Inc. on Form 10-Q for the period ended June 30, 2016 as filed with the Securities and Exchange Commission on the date hereof (the "Report"), each of the undersigned, in the capacities and on the dates indicated below, hereby certifies pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that to the best of his knowledge:

1.The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

2.The information contained in the Report fairly presents, in all material respects, the financial condition and results of operation of the Company.

	AMARILLO BIOSCIENCES, INC.
Date:   August 18, 2016	By: /s/ Stephen T. Chen     Stephen T. Chen, Chairman of the Board, and Chief Executive Officer
Date:   August 18, 2016	By: /s/ Bernard Cohen     Bernard Cohen, Vice President, Chief Financial Officer

XML

Document And Entity Information - shares	6 Months Ended
	Jun. 30, 2016	Aug. 18, 2016
Document Information [Line Items]
Entity Registrant Name	AMARILLO BIOSCIENCES INC
Entity Central Index Key	0001014763
Trading Symbol	amar
Current Fiscal Year End Date	--12-31
Entity Filer Category	Smaller Reporting Company
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Entity Common Stock, Shares Outstanding (in shares)		21,394,810
Document Type	10-Q
Document Period End Date	Jun. 30, 2016
Document Fiscal Year Focus	2016
Document Fiscal Period Focus	Q2
Amendment Flag	false

XML

Balance Sheets (Current Period Unaudited) - USD ($)	Jun. 30, 2016	Dec. 31, 2015
Assets
Cash and cash equivalents	$ 312,261	$ 21,138
Prepaid expense and other current assets	141,517	18,154
Total current assets	453,778	39,292
Patents, net	84,842	72,105
Property and equipment, net	50,174	5,798
Total assets	588,794	117,195
Liabilities and Stockholders' Deficit
Accounts payable and accrued expenses	102,809	58,550
Accrued interest - related parties	2,534	1,706
Accounts payable – related parties		144,426
Notes payable – related parties		384,555
Convertible note payable – related party	791,481
Total current liabilities	896,824	589,237
Total liabilities	896,824	589,237
Commitments and contingencies
Stockholders' deficit
Issued and outstanding shares – 0 at June 30, 2016 and December 31, 2015
Issued and outstanding shares – 21,394,810 and 20,144,810 at June 30, 2016 and December 31, 2015, respectively	213,948	201,448
Additional paid-in capital	332,505	(76,872)
Accumulated deficit	(854,483)	(596,618)
Total stockholders' deficit	(308,030)	(472,042)
Total liabilities and stockholders’ deficit	$ 588,794	$ 117,195

XML

Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares	Jun. 30, 2016	Dec. 31, 2015
Preferred Stock, Par Value (in dollars per share)	$ 0.01	$ 0.01
Preferred Stock, Shares Authorized (in shares)	10,000,000	10,000,000
Preferred Stock, Shares Issued (in shares)	0	0
Preferred Stock, Shares Outstanding (in shares)	0	0
Common Stock, Par Value (in dollars per share)	$ 0.01	$ 0.01
Common Stock, Shares Authorized (in shares)	100,000,000	100,000,000
Common Stock, Shares Issued (in shares)	21,394,810	20,144,810
Common Stock, Outstanding Shares (in shares)	21,394,810	20,144,810

XML

Statements of Operations (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Revenues:
Sales – Herbs			$ 4,400
Total revenues			4,400
Cost of revenues:
Product sales			5,100
Total cost of revenues			5,100
Gross Margin			(700)
Operating expenses:
Research and development expenses
Selling, general and administrative expenses	135,127	102,103	255,706	213,921
Total operating expenses	135,127	102,103	255,706	213,921
Operating loss	(135,127)	(102,103)	(256,406)	(213,921)
Other income (expense)
Interest expense	(1,097)	(746)	(1,459)	(1,017)
Net loss	$ (136,224)	$ (102,849)	$ (257,865)	$ (214,938)
Basic and diluted net loss per share (in dollars per share)	$ (0.01)	$ (0.01)	$ (0.01)	$ (0.01)
Weighted average shares outstanding – basic and diluted (in shares)	21,069,535	20,144,810	20,607,173	20,144,810

XML

Condensed Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Net cash provided by (used in) operating activities:	$ (325,120)	$ (207,426)
Cash flows from investing activities:
Investment in equipment	(47,686)	(7,081)
Investment in patents	(20,446)	(3,985)
Net cash used in investing activities	(68,132)	(11,066)
Cash flows from financing activities:
Proceeds from private placement offering	421,875
Proceeds from convertible note payable – related party	262,500
Net cash provided by financing activities	684,375
Net change in cash	291,123	(218,492)
Cash and cash equivalents at beginning of period	21,138	318,556
Cash and cash equivalents at end of period	312,261	100,064
Supplemental disclosure of cash flow information
Cash paid for interest
Cash paid for income taxes
Noncash transactions:
Conversion of accounts payable – related party to convertible note payable – related party	144,426
Conversion of notes payable – related party to convertible note payable – related party	$ 384,555

XML

Note 1 - Organization and Business

6 Months Ended

Jun. 30, 2016

Notes to Financial Statements

Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]

1. Organization and Business. Amarillo Biosciences, Inc. (the "Company” or “Amarillo” or “ABI”), a Texas corporation formed in 1984, is engaged in developing biologics for the treatment of human and animal diseases. The Company’s current focus is research aimed at the treatment of human disease indications, particularly influenza, hepatitis C, thrombocytopenia, and other indications using natural human interferon alpha that is administered in a proprietary low dose oral form. In addition to the above core technology ABI is exploring the possibility of instituting new revenue streams along with the core technology thus expanding the Company’s current focus into a diversified business portfolio .

XML

Note 2 - Basis of Presentation

6 Months Ended

Jun. 30, 2016

Notes to Financial Statements

Basis of Accounting [Text Block]

2. Basis of presentation. The accompanying financial statements, which should be read in conjunction with the financial statements and footnotes included in the Company's Form 10-K for the year ended December 31, 2015, filed with the Securities and Exchange Commission, are unaudited, but have been prepared in accordance with accounting principles generally accepted in the United States for interim financial information. Accordingly, they do not include all of the information and footnotes required by accounting principles generally accepted in the United States for complete financial statements. In the opinion of management, all adjustments (consisting only of normal recurring adjustments) considered necessary for a fair presentation have been included. Operating results for the six months ended June 30, 2016 are not necessarily indicative of the results that may be expected for the full year ending December 31, 2016.

XML

Note 3 - Financial Condition

6 Months Ended

Jun. 30, 2016

Notes to Financial Statements

Financial Condition [Text Block]

3. Financial Condition. These financial statements have been prepared in accordance with United States generally accepted accounting principles, on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities and commitments in the normal course of business. The Company has not yet achieved operating income, and its operations are funded primarily from debt and equity financings. However, losses are anticipated in the ongoing development of its business and there can be no assurance that the Company will be able to achieve or maintain profitability.

The continuing operations of the Company and the recoverability of the carrying value of assets is dependent upon the ability of the Company to obtain necessary financing to fund its working capital requirements, and upon future profitable operations. The accompanying financial statements do not include any adjustments relative to the recoverability and classification of asset carrying amounts or the amount and classification of liabilities that might result from the outcome of this uncertainty.

There can be no assurance that capital will be available as necessary to meet the Company's working capital requirements or, if the capital is available, that it will be on terms acceptable to the Company. The issuances of additional equity securities by the Company may result in dilution in the equity interests of its current stockholders. Obtaining commercial loans, assuming those loans would be available, will increase the Company's liabilities and future cash commitments. If the Company is unable to obtain financing in the amounts and on terms deemed acceptable, the business and future success may be adversely affected and the Company may cease operations. These factors raise substantial doubt regarding our ability to continue as a going concern.

XML

Note 4 - Common Stock

6 Months Ended

Jun. 30, 2016

Notes to Financial Statements

Stockholders' Equity Note Disclosure [Text Block]

4. Common Stock. The shareholders have authorized 100,000,000 shares of voting common shares for issuance. On June 30, 2016, a total of 25,714,017 shares of common stock were either outstanding (21,394,810) or reserved for issuance upon exercise of options (8,568) or conversion of convertible debt to stock (4,310,639).

On March 10, 2016, the Board of Directors approved the Company to enter into private placements for the sale of up to 5,000,000 shares of the Company’s common stock (Private Placement 2016-2) at a price of $.1875 per share (aggregate offering amount of $937,500).

During the second quarter of 2016, the Company received $421,875 from four (4) individual, outside investors for the purchase of a total of 2,250,000 shares of common stock through the 2016-2 Security Offering which contemplates the sale of a maximum of 5,000,000 shares at a cost of $.1875 per share. The required SEC Form D was filed on May 6, 2016. Subsequent to the Balance Sheet date of June 30, 2016, 1,250,000 shares were issued to three of the four investors. The remaining 1,000,000 shares for the fourth investor will be issued when the executed Private Placement Memorandum documents are received.

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Note 5 - Common Stock Options and Warrants

6 Months Ended

Jun. 30, 2016

Notes to Financial Statements

Stock Option And Warrants [Text Block]

5. Common Stock Options and Warrants. As of June 30, 2016 there were no shares reserved as unexercised warrants and 8,568 shares reserved as unexercised options. No warrants or options expired in the first six months of 2016.

A summary of the Company’s stock option activity and related information for the period ended June 30, 2016 is as follows:

	Options		Price Range
Outstanding December 31, 2015		8,568	$	0.95
Granted		-		-
Cancelled/Expired		-		-
Exercised		-		-
Outstanding June 30, 2016		8,568		0.95
Exercisable June 30, 2016		8,568	$	0.95

A summary of the Company’s stock warrant activity and related information for the period ended June 30, 2016

	Warrants		Price Range
Outstanding December 31, 2015		-	$	-
Granted		-		-
Cancelled/Expired		-		-
Exercised		-		-
Outstanding June 30, 2016		-		-
Exercisable June 30, 2016		-	$	-

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Note 6 - Notes Payable - Related Party

6 Months Ended

Jun. 30, 2016

Notes to Financial Statements

Debt Disclosure [Text Block]

6. Notes Payable – Related Party.

	June 30, 2016		December 31, 2015
Note payable – related party	$	-	$	234,555
Note payable – related party		-		150,000
		-		384,555
Less: current portion		-		(384,555	)
Notes payable – related party, long term	$	-	$	-

On November 20, 2014, the Class Three Secured Claim of Yang was deemed allowed in the amount of $150,000, secured by the same assets that secured Yang’s prepetition secured claim (See Texas Financing Statement No. 13-0029795076). This claim bears interest at the Applicable Federal Rate, will be fully amortized and paid as follows: four (4) consecutive equal annual installments of combined principal and interest, beginning September 1, 2015, and continuing on the same date of each succeeding year until September 1, 2018, when the obligation is due and payable in full. The first payment was due on September 1, 2015, in the amount of $37,811 (principal and interest). To date, no payments have been made and there has been no demand for the payment.

Subsequent to consummation of the Plan, The Yang Group provided $234,555 for post-reorganization financing. This is unsecured and draws interest at the short term Applicable Federal Rate. On June 30, 2016, the two debts were consolidated into one convertible promissory note. The convertible promissory note is due on demand, unsecured, bears interest at the Short-Term Applicable Federal Rate of .64% per annum, and is convertible into Amarillo Biosciences, Inc. Common Stock at a price of $.1875 per share. The amounts owed to The Yang Group after the debts were consolidated totaled $384,555 which represented all amounts then owed to The Yang Group. Those debts along with the associated liens, security interests, and accrued interest were assigned by The Yang Group to Dr. Stephen T. Chen, effective as of June 30, 2016. Subsequent to the assignment, Dr. Chen released the lien (Texas file #13-0029795076) and authorized Amarillo Biosciences, Inc. to file a UCC-3 Amendment Statement terminating the lien.

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Note 7 - Convertible Note Payable - Related Party

6 Months Ended

Jun. 30, 2016

Notes to Financial Statements

Convertible Debt [Text Block]

7. Convertible Notes Payable – Related Party. On July 31, 2015, two investors paid a total of $225,000 for their subscribed investment to the Yang Group for an investment in 1,200,000 shares of ABI common stock. The investors agreed to pay a premium of $0.07 per share over the original cost of the stock, which was $0.12 per share. The Company allocated $144,426 as an Accounts payable – related party to Dr. Chen for his previous advances to the Company through The Yang Group. The remaining $80,574 was recognized as “additional paid in capital” (APIC) during the year ended December 31, 2015.

Shares Subscribed	Purchase Price		Purchase Premium		Total
200,000	$	24,071	$	13,429	$	37,500
1,000,000		120,355		67,145		187,500
1,200,000	$	144,426	$	80,574		225,000
Less: Due to Dr. Stephen Chen						(144,426	)
Additional paid in capital					$	80,574

Subsequently, an offering of $1,000,000 of Convertible Notes was made with a conversion rate of $0.168 per share. The SEC Form D was filed on April 7, 2016, and the first sale was a Convertible Promissory Note for the face amount of $144,426 to Dr. Stephen Chen, who as consideration to the Company, forwent immediate collection of the $144,126 discussed above.

On March 10, 2016, the Board of Directors approved the Company to enter into private placements for the sale of up to $1,000,000 in face amount of the Company’s Convertible Promissory Notes (Private Placement 2016-1), payable on demand, and convertible into the Company’s common stock at a conversion rate of $.1875 per share.

During the period ended June 30, 2016, the Company received $250,000 from Dr. Stephen T. Chen for the purchase of Convertible Promissory Notes in connection with a $1,000,000 Private Placement Convertible Note Security Offering entitled Private Placement 2016-1. In addition, Dr. Chen paid $12,500 for the purchase of Convertible Promissory Notes in connection with the same offering. Both receipts of cash were aggregated and one Convertible Note in the amount of $262,500 was issued to Dr. Chen as of March 18, 2016. The Note is due on demand, bears interest at the Short-Term Applicable Federal Rate of .65% per annum, and is convertible into Amarillo Biosciences, Inc. Common Stock at a price of $.1875 per share.

On June 30, 2016, a Convertible Promissory Note in the amount of $384,555 was issued to Dr. Stephen T Chen in exchange for the aggregated amounts of the two Notes Payable – Related Party described in Note 6. The Convertible Note is due on demand, unsecured, bears interest at the Short-Term Applicable Federal Rate of .64% per annum, and is convertible into Amarillo Biosciences, Inc. Common Stock at a stock price of $.1875 per share.

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Note 8 - Related Party Transactions

6 Months Ended

Jun. 30, 2016

Notes to Financial Statements

Related Party Transactions Disclosure [Text Block]

8. Related Party Transactions. Dr. Stephen T. Chen, Chairman, CEO and President, of the Company advanced $75,000 to the Company on a periodic basis between January 18, 2016 and March 18, 2016 to be used for general operations. The $75,000 was classified on the Balance Sheet as Accounts payable – related parties and was paid back to Dr. Chen on April 4, 2016.

On May 23, 2016, Amarillo Biosciences, Inc. (“ABI”), the Principal, entered into an Agency and Service Agreement with ACTS Global Healthcare, Inc. (“ACTS Global”), a Taiwan Corporation, the Agent. ABI advanced ACTS Global “Principal Funds” in the amount of NTD $3,000,000 ($92,218 USD), to be utilized and /or expended by ACTS Global solely as instructed by ABI. Additional advances may be made by ABI to ACTS Global. ACTS Global was also engaged by ABI to perform such other business services as may be requested by ABI in the agreed geographic area of Taiwan and the Peoples Republic of China. For their services, ACTS Global, will be paid by ABI, one percent (1%) of the Principal’s services expended by the Agent at the Principal’s direction. Any other services rendered by the Agent will be paid for by the Principal based on comparable and/or reasonable values of the service rendered. As of June 30, 2016, the Company has a balance of $91,718, included in Prepaid Expenses, to be utilized.

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Note 9 - Subsequent Event

6 Months Ended

Jun. 30, 2016

Notes to Financial Statements

Subsequent Events [Text Block]

9. Subsequent Event. As stated in Note 4, above, during the second quarter of 2016, the Company received $421,875 from four (4) individual, outside investors for the purchase of a total of 2,250,000 shares of common stock through the 2016-2 Security Offering. On July 11, 2016, 1,250,000 shares were issued to three of the four investors. The remaining 1,000,000 shares for the fourth investor will be issued when the executed Private Placement Memorandum documents are received.

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Note 5 - Common Stock Options and Warrants (Tables)

6 Months Ended

Jun. 30, 2016

Stock Warrants [Member]

Notes Tables

Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]

	Warrants		Price Range
Outstanding December 31, 2015		-	$	-
Granted		-		-
Cancelled/Expired		-		-
Exercised		-		-
Outstanding June 30, 2016		-		-
Exercisable June 30, 2016		-	$	-

Employee Stock Option [Member]

Notes Tables

Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]

	Options		Price Range
Outstanding December 31, 2015		8,568	$	0.95
Granted		-		-
Cancelled/Expired		-		-
Exercised		-		-
Outstanding June 30, 2016		8,568		0.95
Exercisable June 30, 2016		8,568	$	0.95

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Note 6 - Notes Payable - Related Party (Tables)

6 Months Ended

Jun. 30, 2016

Notes Tables

Schedule of Related Party Transactions [Table Text Block]

	June 30, 2016		December 31, 2015
Note payable – related party	$	-	$	234,555
Note payable – related party		-		150,000
		-		384,555
Less: current portion		-		(384,555	)
Notes payable – related party, long term	$	-	$	-

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Note 7 - Convertible Note Payable - Related Party (Tables)

6 Months Ended

Jun. 30, 2016

Notes Tables

Convertible Debt [Table Text Block]

Shares Subscribed	Purchase Price		Purchase Premium		Total
200,000	$	24,071	$	13,429	$	37,500
1,000,000		120,355		67,145		187,500
1,200,000	$	144,426	$	80,574		225,000
Less: Due to Dr. Stephen Chen						(144,426	)
Additional paid in capital					$	80,574

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Note 4 - Common Stock (Details Textual)			3 Months Ended	6 Months Ended
	Jul. 11, 2016 shares	Mar. 10, 2016 USD ($) $ / shares shares	Jun. 30, 2016 USD ($) $ / shares shares	Jun. 30, 2016 USD ($) $ / shares shares	Jun. 30, 2015 USD ($)	Dec. 31, 2015 shares
Exercise of Options [Member]
Common Stock, Capital Shares Reserved for Future Issuance			8,568	8,568
Debt Convertible to Common Stock [Member]
Common Stock, Capital Shares Reserved for Future Issuance			4,310,639	4,310,639
Maximum [Member]
Shares Authorized During Period, Private Placement		5,000,000
Private Placement [Member] | Subsequent Event [Member]
Stock Issued During Period, Shares, New Issues	1,250,000
Stock Issuable Upon Receipt of Private Placement Memorandum	1,000,000
Private Placement [Member]
Shares Authorized During Period, Private Placement			2,250,000
Sale of Stock, Price Per Share | $ / shares		$ 0.1875	$ 0.1875	$ 0.1875
Proceeds from Issuance of Private Placement | $			$ 421,875
Number of Investors			4	4
Common Stock, Shares Authorized			100,000,000	100,000,000		100,000,000
Common Stock, Shares Outstanding and Reserved			25,714,017	25,714,017
Common Stock, Shares, Outstanding			21,394,810	21,394,810		20,144,810
Shares Authorized During Period, Private Placement			2,250,000
Amount of Private Placement | $		$ 937,500
Proceeds from Issuance of Private Placement | $			$ 421,875	$ 421,875

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Note 5 - Common Stock Options and Warrants (Details Textual) - shares	6 Months Ended
	Jun. 30, 2016	Dec. 31, 2015
Stock Warrants [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Expirations in Period	0
Class of Warrant or Right, Number of Securities Called by Warrants or Rights	0
Share-based Compensation Arrangement by Share-based Payment Award, Options, Expirations in Period	0
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number	8,568	8,568

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Note 5 - Stock Option Activity (Details)	6 Months Ended
	Jun. 30, 2016 $ / shares shares
Outstanding, options (in shares) | shares	8,568
Outstanding, price range (in dollars per share) | $ / shares	$ 0.95
Granted, options (in shares) | shares
Granted, price range (in dollars per share) | $ / shares
Cancelled/Expired, options (in shares) | shares
Cancelled/Expired, price range (in dollars per share) | $ / shares
Exercised, options (in shares) | shares
Exercised, price range (in dollars per share) | $ / shares
Outstanding, options (in shares) | shares	8,568
Outstanding, price range (in dollars per share) | $ / shares	$ 0.95
Exercisable March 31, 2016, options (in shares) | shares	8,568
Exercisable March 31, 2016, price range (in dollars per share) | $ / shares	$ 0.95

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Note 5 - Stock Warrant Activity (Details)	6 Months Ended
	Jun. 30, 2016 $ / shares shares
Weighted Average [Member]
Outstanding, warrants price range (in dollars per share) | $ / shares
Granted, warrants price range (in dollars per share) | $ / shares
Cancelled/Expired, warrants price range (in dollars per share) | $ / shares
Exercised, warrants price range (in dollars per share) | $ / shares
Outstanding, warrants price range (in dollars per share) | $ / shares
Exercisable, warrants price range (in dollars per share) | $ / shares
Outstanding, warrants (in shares) | shares
Granted, warrants (in shares) | shares
Cancelled/Expired, warrants (in shares) | shares
Exercised, warrants (in shares) | shares
Outstanding, warrants (in shares) | shares
Exercisable, warrants (in shares) | shares

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Note 6 - Notes Payable - Related Party (Details Textual)					2 Months Ended	6 Months Ended		19 Months Ended
	Apr. 04, 2016 USD ($)	Sep. 01, 2015 USD ($)	Nov. 21, 2014 USD ($)	Nov. 20, 2014 USD ($)	Mar. 18, 2016 USD ($)	Jun. 30, 2016 USD ($) $ / shares	Jun. 30, 2015 USD ($)	Jun. 30, 2016 USD ($) $ / shares	Dec. 31, 2015 USD ($)
Chief Executive Officer [Member] | Secured Debt [Member]
Notes Payable, Related Parties				$ 150,000					$ 150,000
Chief Executive Officer [Member]
Number of Installments				4
Debt Instrument, Periodic Payment		$ 37,811
Repayments of Related Party Debt	$ 75,000							$ 0
Proceeds from Related Party Debt			$ 234,555		$ 75,000
Debt Instrument, Interest Rate, Stated Percentage						0.64%		0.64%
Debt Instrument, Convertible, Conversion Price | $ / shares						$ 0.1875		$ 0.1875
Notes Payable, Convertible, Related Parties, Classified Current						$ 384,555		$ 384,555
Notes Payable, Related Parties									384,555
Proceeds from Related Party Debt						262,500
Notes Payable, Convertible, Related Parties, Classified Current						$ 791,481		$ 791,481

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Note 6 - Related Party Transactions (Details) - USD ($)	Jun. 30, 2016	Dec. 31, 2015	Nov. 20, 2014
Chief Executive Officer [Member] | Unsecured Debt [Member]
Note payable – related party		$ 234,555
Chief Executive Officer [Member] | Secured Debt [Member]
Note payable – related party		150,000	$ 150,000
Note payable – related party		384,555
Less: current portion		(384,555)
Notes payable – related party, long term	$ 0	$ 0

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Note 7 - Convertible Note Payable - Related Party (Details Textual) - USD ($)		3 Months Ended	12 Months Ended
	Jul. 31, 2015	Jun. 30, 2016	Dec. 31, 2015	Apr. 07, 2016	Mar. 18, 2016	Mar. 10, 2016
Dr. Chen [Member]
Accounts Payable, Related Parties	$ 144,426		$ 144,426
Chief Executive Officer [Member] | Convertible Debt [Member]
Debt Instrument, Face Amount				$ 144,426
Chief Executive Officer [Member] | Private Placement Convertible Promissory Notes [Member] | First Issuance [Member]
Proceeds from Convertible Debt		$ 250,000
Chief Executive Officer [Member] | Private Placement Convertible Promissory Notes [Member] | Second Issuance [Member]
Proceeds from Convertible Debt		$ 12,500
Chief Executive Officer [Member] | Private Placement Convertible Promissory Notes [Member]
Debt Instrument, Face Amount					$ 262,500
Debt Instrument, Convertible, Conversion Price					$ 0.1875
Debt Instrument, Interest Rate, Stated Percentage					0.65%
Chief Executive Officer [Member]
Debt Instrument, Convertible, Conversion Price		$ 0.1875
Debt Instrument, Interest Rate, Stated Percentage		0.64%
Notes Payable, Convertible, Related Parties, Classified Current		$ 384,555
Convertible Debt [Member]
Debt Instrument, Face Amount				$ 1,000,000		$ 1,000,000
Debt Instrument, Convertible, Conversion Price				$ 0.168		$ 0.1875
Payment Received from Investors as Payment of a Subscribed Investment	$ 225,000
Common Stock, Shares Subscribed but Unissued	1,200,000		1,200,000
Premium Over the Price of Stock Price	$ 0.07
Shares Issued, Price Per Share	$ 0.12
Adjustments to Additional Paid in Capital, Stock Subscription			$ 80,574
Notes Payable, Convertible, Related Parties, Classified Current		$ 791,481

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Note 7 - Convertible Notes Payable (Details) - USD ($)	12 Months Ended
	Dec. 31, 2015	Jul. 31, 2015
One of the Investors [Member]
Shares Subscribed (in shares)	200,000
Purchase Price	$ 24,071
Purchase Premium	13,429
Total	$ 37,500
Other Investors [Member]
Shares Subscribed (in shares)	1,000,000
Purchase Price	$ 120,355
Purchase Premium	67,145
Total	187,500
Dr. Chen [Member]
Due to related parties	$ (144,426)	$ (144,426)
Shares Subscribed (in shares)	1,200,000	1,200,000
Purchase Price	$ 144,426
Purchase Premium	80,574
Total	225,000
Adjustment to additional paid in capital	$ 80,574

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Note 8 - Related Party Transactions (Details Textual)					2 Months Ended	6 Months Ended		19 Months Ended
	May 23, 2016 USD ($)	May 23, 2016 TWD	Apr. 04, 2016 USD ($)	Nov. 21, 2014 USD ($)	Mar. 18, 2016 USD ($)	Jun. 30, 2016 USD ($)	Jun. 30, 2015 USD ($)	Jun. 30, 2016 USD ($)
Chief Executive Officer [Member]
Repayments of Related Party Debt			$ 75,000					$ 0
Proceeds from Related Party Debt				$ 234,555	$ 75,000
ACTS Global Healthcare, Inc. [Member]
Payments for Advance to Affiliate	$ 92,218	TWD 3,000,000
Percentage to be Paid to Affiliate for Services Rendered	1.00%
Prepaid Expense, Current	$ 91,718
Proceeds from Related Party Debt						$ 262,500

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Note 9 - Subsequent Event (Details Textual)		3 Months Ended	6 Months Ended
	Jul. 11, 2016 shares	Jun. 30, 2016 USD ($) shares	Jun. 30, 2016 USD ($)	Jun. 30, 2015 USD ($)
Private Placement [Member] | Subsequent Event [Member]
Stock Issued During Period, Shares, New Issues	1,250,000
Stock Issuable Upon Receipt of Private Placement Memorandum	1,000,000
Private Placement [Member]
Proceeds from Issuance of Private Placement | $		$ 421,875
Number of Investors		4	4
Shares Authorized During Period, Private Placement		2,250,000
Proceeds from Issuance of Private Placement | $		$ 421,875	$ 421,875
Shares Authorized During Period, Private Placement		2,250,000