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NOTE 3 - INVESTMENTS
9 Months Ended
Sep. 30, 2019
Equity Method Investments and Joint Ventures [Abstract]  
Equity Method Investments and Joint Ventures Disclosure [Text Block]

NOTE 3 — INVESTMENTS


U.S. Stem Cell Clinic, LLC


The investment in U.S. Stem Cell Clinic, LLC is comprised of a 49.9% (33.3% in 2018) member interest ownership and is accounted for using the equity method of accounting. The Company’s 49.9% (33.3% in 2018) income (loss) earned by U.S. Stem Cell Clinic, LLC member interests was $(20,637) and $51,514 for the three and nine months ended September 30, 2019 and $82,950 and $171,740 for the three and nine months ended September 30, 2018, respectively (inception to date income of $599,721) which was recorded as other income/expense in the Company’s Statement of Operations in the appropriate periods.  In addition, during the nine months ended September 30, 2019 and 2018, the Company received distributions totaling $64,870 and $154,000 from U.S. Stem Cell Clinic, LLC, respectively (inception to date of $663,870).  The carrying value of the investment at September 30, 2019 and December 31, 2018 is $0 and $8,921, respectively.


At September 30, 2019 and December 31, 2018, accounts receivable for sales of product and services to U.S. Stem Cell Clinic, LLC was $0; revenues earned from sales to U.S. Stem Clinic, LLC for the three and nine months ended September 30, 2019 were $33,614 and $329,003, and the three and nine months ended September 30, 2018 were $183,832 and $529,880, respectively.


In January 2019, a member of U.S. Stem Cell Clinic, LLC contributed 16.6% of his ownership interest to the Company increasing the Company’s member interest from 33.3% to 49.9%. The Company recorded the contribution to equity of $4,435.


An affiliate of one of the Company’s former officers is an investor in the U.S. Stem Cell Clinic, LLC.


Regenerative Wellness Clinic, LLC


The investment in Regenerative Wellness Clinic, LLC is comprised of a 49.9% (33.3% in 2018) member interest ownership and is accounted for using the equity method of accounting. The Company has provided technical expertise, but no cash investment with Regenerative Wellness Clinic, LLC’s startup in 2017. The Company’s 49.9% (33.3% in 2018) income (loss) earned by Regenerative Wellness Clinic, LLC member interests was $(2,910) and $69,345 for the three and nine months ended September 30, 2019 and for the three and nine months ended September 30, 2018 was $58,931 and $73,247 reported, after effects of 2017 loss, of $9,695, respectively (inception to date income of $113,047) which was recorded as other income/expense in the Company’s Statement of Operations in the appropriate periods.  In addition, during the nine months ended September 30, 2019 and 2018, the Company received distributions totaling $101,963 and $21,000 from Regenerative Wellness Clinic, LLC, respectively (inception to date of $101,963).  The carrying value of the investment at September 30, 2019 and December 31, 2018 is $0 and $21,787, respectively.


At September 30, 2019 and December 31, 2018, accounts receivable for sales of products and services to Regenerative Wellness Clinic, LLC was $0; revenues earned from sales to Regenerative Wellness Clinic, LLC for the three and nine months ended September 30, 2019 was $16,637 and $132,984 and for the three and nine months ended September 30, 2018 was $64,945 and $149,469, respectively.


In January 2019, a member of Regenerative Wellness Clinic, LLC contributed 16.6% of his ownership interest to the Company increasing the Company’s member interest from 33.3% to 49.9%. The Company recorded the contribution to equity of $10,830.


An affiliate of one of the Company’s former officers is an investor in the Regenerative Wellness Clinic, LLC.


U.S. Stem Cell Clinic of the Villages LLC


On January 30, 2018, Greg Knutson, a director of the Company (“Knutson”) and the Company agreed to open and operate a regenerative medicine/cell therapy clinic providing cellular treatments for patients afflicted with neurological, autoimmune, orthopedic and degenerative diseases in Florida.  To that end, U.S. Stem Cell Clinic of The Villages LLC (the “LLC”) was formed on January 30, 2018. Knutson provided the Company with the sum of Three Hundred Thousand Dollars ($300,000) (the “Investment”) to be utilized for the formation and initial operation of the LLC.  Currently, Knutson holds a 51%-member interest in the LLC and the Company holds a 49%-member interest. The Company will provide operating assistance as well as management services, the latter to be compensated at fee of five percent (5%) of the LLC gross revenues.


As of December 31, 2018, upon completion of the LLC, the Company was credited with investment equity of $86,750 from Greg Knutson, the holder of the 51%-member interest. The Company then recorded the investment equity as contributed capital by the Company. The Company’s 49% income (loss) incurred by the LLC member interests was $(9,931) and $(27,081) for the three and nine months ended September 30, 2019 and $18,335 for three and nine months ended September 30, 2018, respectively. In addition, during the year ended December 31, 2018, the Company received distributions totaling $63,700 from the LLC. The carrying value was $0 and $27,081 at September 30, 2019 and December 31, 2018, respectively


At September 30, 2019 and December 31, 2018, accounts receivable for sales of products and services to the LLC was $0; revenues earned from sales to the LLC for the three and nine months ended September 30, 2019 was $9,975 and $140,328 and for the three and nine months ended September 30, 2018 was $64,074 and $143,550, respectively.


During the three and nine months ended September 30, 2019, the Company received $975 and $50,751 management fees from the LLC, respectively.