10-Q

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

[X] QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended September 30, 2020

[   ] TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE EXCHANGE ACT

For the transition period from __________ to __________

Commission File Number 000-54808

NU-MED PLUS, INC.

(Exact name of registrant as specified in its charter)

Utah

45-3672530

(State or other jurisdiction of

(IRS Employer Identification No.)

incorporation or organization)

455 East 500 South, Suite 203, Salt Lake City, Utah    84111

 (Address of principal executive offices)

 (Zip Code)

(801) 746-3570

 (Registrant’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 past 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 [X]   No [   ]

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

Large Accelerated filer ¨

Accelerated filer ¨

Non-accelerated filer   x

Smaller reporting company x

Emerging growth company x

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. [  ]

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).

Yes [  ]   No [X]

Indicate by check mark whether the registrant has submitted electronically on its corporate Web site, if any, every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).

Yes [  ]   No [X]

Applicable Only to Issuers Involved in Bankruptcy Proceedings During the Preceding Five Years:

Indicate by check mark whether the registrant has filed all documents and reports required to be filed by Section 12, 13 or 15(d) of the Exchange Act of 1934 subsequent to the distribution of securities under a plan confirmed by a court.

Not applicable.

Applicable Only to Corporate Issuers:

Class

Outstanding as of November 16, 2020

Indicate the number of shares outstanding of each of the issuer’s classes of common equity, as of the latest practicable date.

50,228,469 shares of $0.001 par value common stock on November 16, 2020

TABLE OF CONTENTS

PART I	FINANCIAL INFORMATION	2
ITEM 1	FINANCIAL STATEMENTS	3
ITEM 2	MANAGEMENT’S DISCUSSION AND ANAYLSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS	16
ITEM 3	QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK	19
ITEM 4	CONTROLS AND PROCEDURES	19

PART II	OTHER INFORMATION	20
ITEM 1	LEGAL PROCEEDINGS	20
ITEM 2	UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS	20
ITEM 3	DEFAULTS UPON SENIOR SECURITIES	20
ITEM 4	MINE SAFETY DISCLOSURE	20
ITEM 5	OTHER INFORMATION	20
ITEM 6	EXHIBITS	21
SIGNATURES		21

1

Part I - FINANCIAL INFORMATION

Item 1. Financial Statements

NU-MED PLUS, INC.

FINANCIAL STATEMENTS

(UNAUDITED)

September 30, 2020

The financial statements included herein have been prepared by the Company, without audit, pursuant to the rules and regulations of the Securities and Exchange Commission.  Certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted.  However, in the opinion of management, all adjustments (which include only normal recurring accruals) necessary to present fairly the financial position and results of operations for the periods presented have been made.  These financial statements should be read in conjunction with the 10-K for the period ended December 31, 2019, accompanying notes, and with the historical financial information of the Company.  The results of operations for the three and nine months ended September 30, 2020 are not necessarily indicative of the results to be expected for the year ending December 31, 2020.

2

Nu-Med Plus, Inc.

Financial Statements

(Unaudited)

Table of Contents

	Page No.
Condensed Balance Sheets at September 30, 2020 (unaudited) and December 31, 2019	4
Condensed Statements of Operations (unaudited) for the three and nine months ended September 30, 2020 and 2019	5
Statement of Stockholders’ Equity (Deficit) for the three and nine months ended September 30, 2020 and 2019 (unaudited)	6 - 7
Condensed Statements of Cash Flows (unaudited) for the nine months ended September 30, 2020 and 2019	8
Notes to the Condensed Financial Statements	9

3

NU-MED PLUS, INC.

Condensed Balance Sheets

			September 30,	December 31,
			2020 (unaudited)	2019
ASSETS
Current assets
	Cash		$             31,498	$            7,079
	Prepaid expense		592,807	6,879
		Total current assets	624,305	13,958
Long-term Assets
	Property and equipment, net		14,281	23,425
	Operating lease right-of-use of assets		10,975	8,396
		Total long-term assets	25,256	31,821
		Total assets	$         649,561	$          45,779
LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)
Current liabilities
	Accounts payable		$            30,113	$           39,820
	Accounts payable – related party		20,000	14,085
	Accrued expense		10,975	9,579
	Accrued interest – related party		116,339	114,231
	Operating lease liability		10,975	8,396
	Convertible promissory notes – related party		230,100	230,100
		Total current liabilities	418,502	416,211
Long-term liabilities
Note payable			9,384	-
Total liabilities			427,886	416,211
Commitments and contingencies			-	-
Stockholders' equity (deficit)
	Preferred stock; $0.001 par value; 10,000,000 authorized; no shares issued and outstanding, respectively.		-	-
	Common stock; $0.001 par value; 90,000,000 authorized; 50,228,469 and 44,476,625 shares issued and outstanding, as of September 30, 2020 and December 31, 2019, respectively.		50,229	44,477
	Additional paid-in capital		8,219,893	5,849,784
	Stock subscription payable		197,412	465,541
	Accumulated deficit		(8,245,859)	(6,730,234)
		Total stockholders' equity (deficit)	221,675	(370,432)
		Total liabilities and stockholders' equity (deficit)	$          649,561	$         45,779

The accompanying notes are an integral part of these unaudited condensed financial statements.

4

NU-MED PLUS, INC.

Condensed Statements of Operations

(Unaudited)

			Three months ended September 30, 2020	Three months ended September 30, 2019	Nine months ended September 30, 2020	Nine months ended September 30, 2019
Revenue			$                -	$              -	$                 -	$                  -
Operating expenses
	General and administrative expense		13,708	10,162	51,693	60,014
	Payroll expense		67,465	70,476	638,797	196,456
	Rent expense		4,689	4,570	14,068	13,767
	Professional and consulting fees		360,848	57,871	789,814	533,159
	Depreciation expense		3,048	3,134	9,144	10,330
		Total operating expenses	449,758	146,213	1,503,517	813,726
		Operating Loss	(449,758)	(146,213)	(1,503,517)	(813,726)
Other expense
	Interest expense		(4,066)	(4,363)	(12,108)	(13,229)
		Total other expense	(4,066)	(4,363)	(12,108)	(13,229)
	Income tax expense		-	-	-	-
		Net loss	$ (453,824)	$(150,576)	$(1,515,625)	$ (826,955)
	Basic and diluted earnings (loss) per share		$        (0.01)	$       (0.00)	$       ( 0.03)	$       ( 0.02)
	Weighted average common shares outstanding – basic and diluted		50,263,252	45,962,847	48,454,879	45,410,048

The accompanying notes are an integral part of these unaudited condensed financial statements.

5

NU-MED PLUS, INC.

Statements of Stockholders’ Equity (Deficit)

For the Three and Nine Months Ended September 30, 2020

(Unaudited)

	Preferred Stock		Common Stock		Additional Paid-In	Stock Subscription	Accumulated
	Shares	Amount	Shares	Amount	Capital	Payable	Deficit	Total
Balance, January 1, 2020	-	$          -	44,476,625	$  44,477	$ 5,849,784	$   465,541	$  (6,730,234)	$  (370,432)
Cash received for  subscription payable	-	-	-	-	-	106,439	-	106,439
Stock-based compensation	-	-	-	-	50,000	-	-	50,000
Net loss for the three months  ended March 31, 2020	-	-	-	-	-	-	(153,334)	(153,334)
Balance, March 31, 2020	-	$          -	44,476,625	$44,477	$5,899,784	$571,980	$ (6,883,568)	$  (367,327)
Cash received for  subscription payable	-	-	-	-	-	125,731	-	125,731
Common stock issued for subscription payable	-	-	2,706,844	2,707	674,004	(676,711)	-	-
Stock issued for accrued interest on convertible note	-	-	1,000,000	1,000	9,000	-	-	10,000
Stock issued for prepaid services	-	-	1,400,000	1,400	939,100	-	-	940,500
Stock-based compensation	-	-	645,000	645	610,505	-	-	611,150
Net loss for the three months  ended June 30, 2020	-	-	-	-	-	-	(908,467)	(928,467)
Balance, June 30, 2020	-	$          -	50,228,469	$50,229	$8,132,393	$21,000	$ (7,792,035)	$ 411,587

Cash received for  subscription payable	-	-	-	-	-	126,412	-	126,412
Stock payable for services	-	-	-	-	-	50,000	-	50,000
Stock-based compensation	-	-	-	-	87,500	-	-	87,500
Net loss for the three months  ended September 30, 2020	-	-	-	-	-	-	(453,824)	(453,824)
Balance, September 30, 2020	-	$          -	50,228,469	$50,229	$8,219,893	$197,412	$ (8,245,889)	$ 221,675

The accompanying notes are an integral part of these unaudited condensed financial statements.

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NU-MED PLUS, INC.

Statements of Stockholders’ Equity (Deficit)

For the Three and Nine Months Ended September 30, 2019

(Unaudited)

	Preferred Stock		Common Stock		Additional Paid-In	Stock Subscription	Accumulated
	Shares	Amount	Shares	Amount	Capital	Payable	Deficit	Total
Balance, January 1, 2019	-	$          -	41,274,375	$   41,274	$ 4,851,487	$   849,175	$  (5,693,409)	$  48,527
Common Stock issued for subscription payable	-	-	40,000	40	9,960	(10,000)	-	-
Stock issued for cash	-	-	200,000	200	49,800	-	-	50,000
Cash received for  subscription payable	-	-	-	-	-	55,000	-	55,000
Stock vested for compensation	-	-	-	-	50,000	-	-	50,000
Net loss for the three months  ended March 31, 2019	-	-	-	-	-	-	(428,195)	(428,195)
Balance, March 31, 2019	-	$          -	41,514,375	$41,514	$4,961,247	$894,175	$ (6,121,604)	$  (224,668)
Cash received for  subscription payable	-	-	-	-	-	115,598	-	115,598
Stock vested for compensation	-	-	-	-	50,000	-	-	50,000
Net loss for the three months ended June 30, 2019	-	-	-	-	-	-	(248,184)	(248,184)
Balance, June 30, 2019	-	-	41,514,375	$41,514	$5,011,247	$1,009,773	$(6,369,788)	$(307,254)
Cash received for subscription payable	-	-	-	-	-	104,418	-	104,418
Stock vested for compensation	-	-	-	-	50,000	-	-	50,000
Net loss for the three months  ended September 30, 2019	-	-	-	-	-	-	(150,576)	(150,576)
Balance, September 30, 2019	-	$          -	41,514,375	$41,514	$5,061,247	$1,114,191	$ (6,520,364)	$  (303,412)

The accompanying notes are an integral part of these unaudited condensed financial statements.

7

Nu-Med Plus, Inc.

Condensed Statements of Cash Flows

(Unaudited)

			Nine months ended	Nine months ended
			September 30, 2020	September 30, 2019
Cash flows from operating activities:
	Net loss		$(1,515,625)	$ (826,955)
	Adjustment to reconcile net loss to net cash used in operating activities:
		Depreciation	9,144	10,330
		Amortization of prepaid consulting	356,807	-
		Amortization of right of use asset	9,355	8,064
		Stock issued for services performed	798,650	-
		Stock-based compensation	-	356,250
		Changes in operating assets and liabilities:
		Prepaid expenses	(2,235)	8,512
		Operating lease liability	(9,355)	(8,064)
		Accounts payable	(9,707)	9,150
		Accounts payable-related party	5,915	5,034
		Accrued expense	13,504	(4,997)
		Net cash used in operating activities	(343,547)	(442,676)
Cash flows from investing activities:
		Net cash used in investing activities	-	-
Cash flows from financing activities
	Proceeds from stock subscriptions		358,582	275,016
	Proceeds from notes payable		9,384	-
	Proceeds from issuance of common stock		-	50,000
	Payments on financing lease		-	(8,015)
		Net cash provided by financing activities	367,966	317,001
		Net increase (decrease) in cash	24,419	(125,675)
Cash at beginning of period			7,079	167,513
Cash at end of period			$   31,498	$    41,838
Supplemental schedule of cash flow information
	Cash paid for interest		$             -	$      1,175
	Cash paid for income tax		-	-
Non-Cash Investing and Financing Activities
	Common stock issued for subscription payable		$676,711	$   10,000
	Right-of-use operating lease assets obtained for operating lease liabilities		$  11,934	$   19,482
	Conversion of accrued interest for common stock		$  10,000	$             -
	Common stock issued for prepaid consulting		$940,500	$             -

The accompanying notes are an integral part of these unaudited condensed financial statements.

8

Nu-Med Plus, Inc.

Notes to the Condensed Financial Statements

September 30, 2020

NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

The recent COVID 19 Pandemic (“the Pandemic”) has had a dramatic effect on our business as well as the business of our contract developers.  The wide ranging effects on the World Wide business market has led to a closure or partial closure of firms we are relying on in our product development. As a result their work on our project has been slowed.  While we cannot predict when the influence of the Pandemic will end, we trust businesses will be able to open and expand activities to their former levels and increase following a return to normal operations.  

a. Basis of Presentation

The accompanying unaudited condensed consolidated financial statements include the accounts of Nu-Med Plus, Inc. (the “Company”). These financial statements are condensed and, therefore, do not include all disclosures normally required by accounting principles generally accepted in the United States of America. Therefore, these statements should be read in conjunction with the most recent annual consolidated financial statements of Nu-Med Plus, Inc. for the year ended December 31, 2019 included in the Company’s Form 10-K filed with the Securities and Exchange Commission on March 30, 2020. In particular, the Company’s significant accounting principles were presented as Note 1 to the Consolidated Financial Statements in that report. In the opinion of management, all adjustments necessary for a fair presentation have been included in the accompanying condensed consolidated financial statements and consist of only normal recurring adjustments. The results of operations presented in the accompanying condensed consolidated financial statements are not necessarily indicative of the results that may be expected for the full year ending December 31, 2020.

b. Revenue Recognition

The Financial Accounting Standards Board (“FASB”) issued new guidance for the recognizing and reporting of revenue, ASU 2014-09, Revenue from Contracts with Customers (“ASC606”).  The effective date for implementation for public companies was January 1, 2018.

The new guidance established a five-step analysis to be followed when determining the recognition of revenue.

1.

 Identify the contract with a customer.

2.

Identify the performance obligations in the contract.

3.

Determine the transaction price.

4.

Allocate the transaction price to the performance obligations in the contract.

5.

Recognize revenue when, or as, the reporting organization satisfied a performance obligation.

While the Company is an early-stage company with no revenue, at the time we begin to generate revenue the Company will recognize such revenue in conformity with the guidelines set forth by ASC 606.

c. Estimates

The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period.  Actual results could differ from those estimates.

9

d. Cash and Cash Equivalents

The Company considers all deposit accounts and investment accounts with an original maturity of 90 days or less to be cash equivalents.  The cash balance we currently have on deposit is within the limits for which the FDIC insures.

e. Property and Equipment

Property and equipment is stated at cost.  Expenditure for minor repairs, maintenance, and replacement parts which do not increase the useful lives of the assets are charged to expense as incurred. Expenditures exceeding $500 for new assets or that increase the useful life of existing assets are capitalized.  Depreciation is computed using the straight-line method.  The lives over which the fixed assets are depreciated are five to seven years.

f. Fair Value

Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date.  FASB Accounting Standards Codification (“ASC”) Topic 820 establishes a three-tier fair value hierarchy that prioritizes the inputs used in measuring fair value.  The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (level 1 measurements) and the lowest priority to unobservable inputs (level 3 measurements), as follows:

Level 1 - Quoted market prices in active markets for identical assets or liabilities;

Level 2 - Inputs other than level one inputs that are either directly or indirectly observable; and

Level 3 - Unobservable inputs developed using estimates and assumptions, which are developed by the reporting entity and reflect those assumptions that a market participant would use.

All cash, accounts payable and accrued liabilities are carried at cost, which approximates fair value due to the short-term nature of these financial instruments.  Additionally, we measure certain financial instruments at fair value on a recurring basis.

g. Earnings per Share

The computation of earnings per share of common stock is based on the weighted average number of shares outstanding during the period of the financial statement.  The company included 589,648 and 4,453,012 shares subscribed but unissued in its calculation of basic and diluted earnings per share for the three and nine months ended September 30, 2020 and 2019, respectively.

	For the three months ended September 30, 2020	For the three months ended September 30, 2019	For the nine months ended September 30, 2020	For the nine months ended September 30, 2019
Net loss (numerator)	$            (453,824)	$             (150,576)	$         (1,515,625)	$          (826,955)
Shares (denominator)	50,263,252	45,962,847	48,753,660	45,410,048
Net loss per share amount – basic and diluted	$                  (0.01)	$                   (0.00)	$                   (0.03)	$                (0.02)

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Diluted earnings per share is computed using the weighted average number of common shares plus dilutive common share equivalents outstanding during the period. As of September 30, 2020 and 2019 there were 34,643,900 and 34,026,500, respectively, potential dilutive shares, or common share equivalents from convertible notes payable.

As of September 30, 2020 and 2019 the dilutive shares were excluded from the calculation for diluted earnings per share as there was a net loss and their inclusion in the calculation would be anti-dilutive.

h. Concentrations and Credit Risk

The Company has relied on a small group of investors to fund its operations.  If this group becomes unable or unwilling to provide additional funding, the Company may be unable to remain in business or to execute on its business plan.

i. Income Taxes

Deferred taxes are provided on an asset and liability approach whereby deferred tax assets are recognized for deductible temporary differences and operating loss and tax credit carryforwards and deferred tax liabilities are recognized for taxable temporary differences. Temporary differences are the differences between the reported amounts of assets and liabilities and their tax basis.  Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized.  Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the date of enactment.

j. Stock-based Compensation

The Company, in accordance with ASC 718, Compensation – Stock Compensation, records all share-based payments to employees at the grant-date fair value of the equity instruments issued. In accordance with ASC 718-10-30-9, Measurement Objective – Fair Value at Grant Date, the Company uses the closing price of the stock, as quoted by NASDAQ, on the date of the grant.  The Company believes this pricing method provides the best estimate of fair the fair value of the consideration given.  Compensation cost is recognized over the requisite service period.

k.  Leases

The Company accounts for all leases in accordance with ASC 842, Leases, recognizing both assets and liabilities on the balance sheet for the right to use those assets for the lease term and obligations to make the lease payments created by those leases that have terms of greater than twelve months.

l. Recent Accounting Pronouncements

The Company has reviewed all recently issued, but not yet adopted, accounting standards in order to determine their effects, if any, on its consolidated results of operation, financial position and cash flows.  Based on that review, the Company believes that none of these pronouncements will have a significant effect on its current or future earnings or operations.

NOTE 2 - GOING CONCERN

The Company acknowledges that the funds on hand as of September 30, 2020, will not be sufficient to enable it to execute its business plan and will require funding through the sale of equity capital and short term related party and other shareholder loans in order to meet the planned expenditures for development, operations, and administrative cost over the next 12 months will be required. Planned expenditures are approximately $1,200,000 for the next twelve months. The Company is currently funded through November 30, 2020. If plans to obtain further financing

11

prove to be insufficient to fund operations, continued viability could be at risk. These factors raise substantial doubt about the Company's ability to continue as a going concern.

NOTE 3 – PROPERTY AND EQUIPMENT

Property and equipment and related accumulated depreciation consisted of the following at September 30, 2020, and December 31, 2019:

	September 30, 2020	December 31, 2019
Computer and office equipment	$                   90,368	$                      90,368
Accumulated depreciation	(76,087)	(66,943)
Total Fixed Assets	$                    14,281	$                      23,425

Depreciation expense for the nine months ended September 30, 2020 and 2019 was $9,144 and $10,330, respectively.

NOTE 4 - PREFERRED STOCK

On October 19, 2011, the Company filed Articles of Incorporation with the State of Utah so as to authorize 10,000,000 shares of preferred stock having a par value of $0.001 per share.  No preferred shares are issued or outstanding at September 30, 2020.

NOTE 5 - COMMON STOCK

Stock Subscription Payable:

At September 30, 2020 and December 31, 2019, the Company had $197,412 and $465,541, respectively, in stock subscriptions payable for which it is obligated to issue 589,648 and 1,862,164 shares of restricted common stock, respectively, pursuant to separate subscription agreements.

April 2020 Subscription Agreement

In April 2020, the Company entered into a stock purchase agreement with a related party, significant shareholder and debt holder, under which the buyer may purchase up to $400,000 in shares of common stock at $0.25 per share.  The agreement expires on December 31, 2021.  The Company received $229,518 under this agreement in the nine months ended September 30, 2020.  At the date of this report 328,424 shares of common stock have been issued, leaving a balance of 589,648 shares to be issued.  As of September 30, 2020 a total of 681,928 shares of common stock for $170,482 are available for purchase under this agreement.

July 2019 Subscription Agreement

In July 2019, the Company entered into a stock purchase agreement with a related party, significant shareholder and debt holder, under which the buyer may purchase up to $250,000 in shares of common stock at $0.25 per share.  The agreement expires on December 31, 2020.  The Company received $129,064 under this agreement during 2020 and $120,936 in 2019.  In June 2020 the Company issued 1,000,000 shares of restricted common stock in settlement of its obligations under this agreement.

September 2017 Subscription Agreement

In September 2017 the Company entered into a stock purchase agreement with a related part, significant shareholder

12

and debt holder, under which the buyer may purchase up to $400,000 in shares of common stock at $0.25 per share. The agreement expired on August 30, 2018.  The Company received $153,070 under this agreement during 2018 and $246,930 during 2019.  In June 2020 the Company issued 1,600,000 shares of restricted common stock in settlement of its obligations under this agreement. In the nine months ended September 30, 2020 the Company issued a total of 5,751,844 shares of common stock.  Of the total, 2,706,844 was issued in settlement of stock subscriptions payable, 1,000,000 shares were issued from the conversion of accrued interest on notes payable, and 2,245,000 was issued for services performed and services to be performed.

Common Stock issued for Services

See also Common Stock Issued for Services below.

Common Stock Issued for Cash

During the nine months ending September 30, 2019, the Company issued 200,000 shares of restricted common stock for $50,000 to an unrelated investor.  

Common Stock Issued for conversion of liabilities

During the nine months ended September 30, 2020, the Company issued 1,000,000 shares of restricted common stock in exchange for the conversion of $10,000 of accrued interest on notes payable.

Common Stock Issued to Officer

In February 14, 2018 the Company announced that the consulting agreement with the Chief Financial Officer (Mr. Merrell) was terminated effective December 31, 2017, and that a new agreement was entered into effective January 1, 2018 under which Mr. Merrell would receive 2,000,000 shares of restricted common stock, vesting at 500,000 shares per year, for his service.  The term of the agreement is for one year, which term automatically renews for one-year extensions up to four years unless terminated by either party with 30 days written notice.  The Company issued all 2,000,000 shares to Mr. Merrell on August 20, 2018.  Any common shares not earned during the four-year period are to be returned or cancelled.  A charge will be made each quarter as the shares are earned under the provisions of the agreement until such time as all shares have been earned.  A charge of $150,000 and $150,000 was recorded for the nine months ended September 30, 2020 and 2019, respectively.  In June 2020 Mr. Merrell was issued an additional 500,000 shares which vested at issuance, resulting in a $435,000 stock-based compensation charge recorded in the nine-month period ended September 30, 2020.

Common Stock Issued for Services

During the nine months ended September 30, 2020 the Company issued 1,545,000 shares of restricted common stock to consultants for services performed and/or to be performed.  The issuances were valued at $1,066,650 and of that amount, $940,500 was recorded as prepaid expense and the remaining $126,150 recorded as stock-based compensation. The Company subsequently amortized $356,807 of the prepaid expenses as professional and consulting fees. As of September 30, 2020, the prepaid balance of $583,693 remains to be amortized as the services are performed.

In September 2020, the Company entered into a consulting agreement with Waterside Capital Advisers, Inc. to raise capital for the Company and provide other consulting services.  Under the terms of the agreement, 50,000 shares of common stock were to be issued upon signing the agreement, 75,000 shares of common stock were to be issued 30 days after the signing date and an additional 75,000 shares are to be issued 60 days after the signing date. Accordingly, the Company valued the shares at $200,000 of which $50,000 has been recorded as common stock payable as of September 30, 2020.  The Company recorded $87,500 in stock-based compensation to Waterside during the period ended September 30, 2020.  The remaining balance of $112,500 will be expensed in the final quarter of 2020. Further, the agreement contains a long-term incentive whereby an additional 2,000,000 shares of common stock may be earned by the consultant upon the achieving of certain milestones as detailed in the agreement.

In September 2018, the Company issued 650,000 shares of stock to two consultants.  Of these shares, 150,000 were issued under a consulting contract for services rendered and vested upon issue and 500,000 shares of restricted stock were issued to a consultant for services rendered and to be rendered through June 1, 2019.  The common stock 

13

was valued at $639,000, of which $432,750 was expensed during the year ended December 31, 2018.  The remaining balance of $206,250 was expensed during the year ended December 31, 2019.

NOTE 6 – CONVERTIBLE POMISSORY NOTES – Related Party

$100,000 Convertible Promissory Note

On November 12, 2012, the Company issued a $100,000 convertible promissory note to SCS, a related party and significant shareholder, as compensation for services provided and to be provided during the period April 1, 2012 through March 31, 2013.  The note is due on demand, bears annual interest at 5.5%, and is convertible into shares of common stock at a conversion price to be agreed upon immediately prior to conversion.  On September 27, 2013, the Company amended the note to include a conversion price which of $0.01 per share for all unpaid principal and interest.  As of September 30, 2020 and December 31, 2019 interest accrued, but unpaid, was $54,427 and $47,899, respectively.  At September 30, 2020 the balance of the note is $100,000, with $54,427 in accrued unpaid interest.

$130,100 Convertible Promissory Note

Prior to 2015, the Company entered into a convertible promissory note with SCS, a related party and significant shareholder, due on demand, bearing interest at 8% per annum, unsecured and convertible at $0.01 per share, with a price protection provision to a lower conversion price.  The balance of this note was $130,100 at September 30, 2020 and December 31, 2019 with accrued interest balances of $63,674 and $65,861, respectively.  During the nine-month period ended September 30, 2020, the Company received a request to convert $10,000 of interest accrued and unpaid to shares of restricted common stock.  Under the conversion terms of the agreement 1,000,000 shares of restricted stock were issued.  At September 30, 2020 the balance of the note is $130,100, with $63,674 of accrued unpaid interest.

$9,384 Promissory Note

The Company applied for and received a $9,384 loan under the Paycheck Protection Program administered by the Small Business Administration.  The note bears an annual interest rate of 1% and has a maturity date of May 8, 2022. The terms of the loan provide that an application for forgiveness of the loan amount may be requested if the funds were used for payroll, medical insurance, rent and utilities.  As all of the funds were used in the allowable categories, the Company will file an application for forgiveness as soon as the bank makes available the form for such request.

NOTE 7 - COMMITMENTS AND CONTINGENCIES

The Company has obligations under both a financing lease and operating lease, as detailed below.

Operating Lease Obligations

The Company entered into a lease for office space in February 2017 and has signed various extensions since then, the latest of which expired on August 31, 2020.  In August 2020 the Company extended the lease agreement through August 31, 2021 at a rate of $1,038 per month.

Amortization of $9,355 was recorded as rent expense in the nine month period ended September 30, 2020, leaving an operating right-of-use asset at September 30, 2020 of $10,975 and an operating lease liability of $10,975.    Cash payments of $9,343 were made for rent expense in the nine months ended September 30, 2020.

Obligations under this lease are as follows:

	2020	2021	2022
Office lease	$    3,114	$        8,305	$              -

Upon the adoption of ASC 842, the calculation of our lease obligation using a discount rate of 8% resulted in an immaterial difference and therefore, no interest will be imputed on the lease obligation.  There are eleven months

14

remaining on the office lease, which terminates August 31, 2021.

Consulting Agreements

In September 2020, the Company entered into a consulting agreement with Waterside Capital Advisers, Inc. to raise capital for the Company and provide other consulting services.  Under the terms of the agreement, 50,000 shares of common stock were to be issued upon signing the agreement, 75,000 shares of common stock were to be issued 30 days after the signing date and an additional 75,000 shares are to be issued 60 days after the signing date. Accordingly, the Company valued the shares at $200,000 of which $50,000 has been recorded as common stock payable as of September 30, 2020.  The Company recorded $87,500 in stock-based compensation to Waterside during the period ended September 30, 2020.  The remaining balance of $112,500 will be expensed in the final quarter of 2020.

The agreement also provides that the consultant be paid $5,000 per month for services, which fee will be accrued until such time as the Company and consultant agree acceptable financing has been raised, at which point payment of all accrued but unpaid fees will be made.  In accordance with the agreement a $2,500 consultant fee was accrued for the last half of September 2020.  Further, the agreement contains a long-term incentive whereby an additional 2,000,000 shares of common stock may be earned by the consultant upon the achieving of certain milestones as detailed in the agreement.

In June 2020, the Company entered into consulting agreements with Roger Gill and Peter Kristensen.  Both of the agreements begin June 22, 2020 and run for a period of twelve months, terminating June 30, 2021.  Under the terms of the agreements Mr. Gill will receive 500,000 shares of restricted common stock and Mr. Kristensen will receive 100,000 shares of restricted stock for their services.  The fair-value of the stock was $565,500 and was recorded as a prepaid. During the nine months, the company amortized $153,382 of the prepaid expense.  As of September 30, 2020, the remaining $412,118 was remaining in prepaid expenses, to be amortized over the term of the agreements.

On March 15, 2020 the Company entered into a service agreement with Hanover International, Inc. to provide advisory services to the Company.  The contract is a one year contract, but may be cancelled with thirty days notice any time after the 91^st day of the agreement.  Hanover will receive a fee of $3,500 per month, from which fee it pays all of its expenses.  In addition, Hanover will receive 750,000 shares of restricted common stock, earned in quarterly tranches of 187,500 shares, deemed earned and issuable after services are provided for each quarter. As of September 30, 2020 all of the shares to which the Company is obligated under this agreement have been issued, with the unearned portion included in prepaid expenses.  The shares were issued at $0.50 per share for a total value of $375,000.  The amount has been recorded in prepaid expenses, with $203,425 of the total being expensed in the nine-month period ended September 30, 2020.  The remaining prepaid amount of $171,575 will be amortized over the remaining life of the agreement.

Note 8 - SUBSEQUENT EVENTS

The Company has evaluated subsequent events pursuant to ASC Topic 855 and has determined that there are no events that require disclosure as of the date of issuance.

15

Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations

Special Note Regarding Forward-Looking Statements

Certain statements in this Report constitute “forward-looking statements.”  Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Factors that might cause such a difference include, among others, uncertainties relating to general economic and business conditions; industry trends; changes in demand for our products and services; uncertainties relating to customer plans and commitments and the timing of orders received from customers; announcements or changes in our pricing policies or that of our competitors; unanticipated delays in the development, market acceptance or installation of our products and services; changes in government regulations; availability of management and other key personnel; availability, terms and deployment of capital; relationships with third-party equipment suppliers; and worldwide political stability and economic growth. The words “believe,” “expect,” “anticipate,” “intend” and “plan” and similar expressions identify forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statement was made.

Critical Accounting Policies and Estimates

The Company believes that the following addresses the Company’s most critical accounting policies.

Estimates

The preparation of financial statements and related disclosures in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the amounts reported in the Financial Statements and accompanying notes.  Management bases its estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances. Actual results could differ from these estimates under different assumptions or conditions. 

Revenue

We recognize revenue in accordance with ASC 606, which establishes a five-step analysis to be followed when determining the recognition of revenue.  While the Company is an early-stage company with no revenue, at the time we begin to generate revenue the Company will recognize such revenue in conformity with the guidelines set forth by ASC 606.

Stock-based Compensation

The Company, in accordance with ASC 718, Compensation – Stock Compensation, records all share-based payments to employees at the grant-date fair value of the equity instruments issued. In accordance with ASC 718-10-30-9, Measurement Objective – Fair Value at Grant Date, the Company uses the closing price of the stock, as quoted by NASDAQ, on the date of the grant.  The Company believes this pricing method provides the best estimate of fair the fair value of the consideration given.  Compensation cost is recognized over the requisite service period.

The Company, in accordance with ASC 505, Compensation – Stock Compensation, establishes the value of equity instruments issued to non-employees for goods and services by using the closing price of the stock, as quoted by NASDAQ, on the date of the grant.  The Company believes this method fairly establishes the value of the goods and/or services received.

16

Income Taxes

We account for income taxes in accordance with the Tax Cuts and Jobs Act and SAB 118.

BUSINESS OVERVIEW

NU-MED PLUS, INC., a Utah corporation (“NU-MED” or the “Company”) was incorporated in October 2011 in the state of Utah to develop, manufacture and market new technologies utilizing nitric oxide in the medical device field, primarily through the creation of a nitric oxide generating compound formulation and delivery systems.  To date we have developed a hospital nitric oxide delivery system, a clinical nitric oxide delivery system, a mobile rechargeable device to deliver nitric oxide gas, and a nitric oxide system that can be used for research applications. NU-MED is headquartered in Salt Lake City, Utah.

Business

The mission of NU-MED is to design, develop, and market technologies in the medical device field. Our technologies will focus on market niches in high growth trend areas.  We hope each developed technology will fill a current need in medical procedures by improving upon an existing technology or device, or by designing a device to serve a need that is clearly defined and acknowledged by medical professionals.

NU-MED is a medical device company principally engaged in the design, innovation, development, enhancement and commercialization of beginning, early, and selective later-stage quality medical devices. The mission of NU-MED is to design, develop, and market technologies utilizing nitric oxide in the medical device field. Our technologies will focus on market niches in high growth trend areas.  Our products are developed to target a current need in medical procedures by improving upon an existing technology or device or by designing a device to serve a currently unfilled need that is clearly defined and acknowledged by medical professionals. Our focus has been on the creation of a nitric oxide generating formulation, a hospital bedside nitric oxide delivery system, a clinical unit for use in medical clinics and rehabilitation centers and a mobile rechargeable device to deliver nitric oxide gas to offer solutions to hospitals, health systems and the medical community throughout the world.

NU-MED PLUS has focused on the development of five distinct products for the delivery of nitric oxide. NU-MED products have not been fully developed; therefore we have not made any submission for FDA approval under any medical use.

1.

Nitric oxide proprietary formulation.

2. A hospital delivery device with controls and safety monitors built in that delivers inhaled nitric oxide to a patient at therapeutic levels.  This delivery system is intended for hospitals specifically intensive care units. The goal is to have a system that delivers a metered therapeutic dose (up to 40 ppm) of nitric oxide via a ventilator. The core technology allows dilution of nitric oxide to therapeutic levels to be accomplished without the use of injectors or valves. Safeguards such as concentration monitoring, flow and gas purity would be standard.

3.  A clinical delivery unit that is designed for treatment in an office or physician’s clinic. A unit powered by a wall outlet, administration of the nitric oxide would be via cannula or non-rebreather face mask

4. A compact, mobile/portable rechargeable device to deliver inhaled nitric oxide gas.  The portable system necessitates a design which can be deployed where a reliable source of power is not available or is difficult to access. The key feature is a rechargeable battery pack that powers the unit for the full duration of a therapeutic session. It can be recharged using existing electrical sources, a solar array or other alternative energy source. The unit is designed as a low power but fully functional nitric oxide delivery system for inhalation therapy, that can be used as a transport device during the movement of a patient or as a delivery device in those remote areas of the world that do not currently have electrical power readily available.

17

5. A unit that is one of the world’s first nitric oxide dilution systems designed for research. A patent pending technology utilizes pure 100% nitric oxide from a pressurized tank source and dilutes it with air or other non-reactive diluent gas to provide a 1 to 500 ppm source of high purity nitric oxide for investigational applications.

LIQUIDITY AND CAPITAL RESOURCES

At September 30, 2020, we had assets of $649,561 with current assets of $624,305 and liabilities of $427,886. Our current assets consisted primarily of cash in the amount of $31,948 and prepaid expenses in the amount of $592,807. We currently have no revenue and have had to rely on loans from shareholders or sale of our stock to cover expenses.  Without additional capital, we will not be able to stay in business and move our business plan forward. We anticipate, based on our preliminary budgets, that we will need $300,000 in additional financing for the next twelve months to cover our corporate overhead and need an additional $900,000 to cover ongoing product development. Since we will not have a commercial product in the next twelve months, we will have to continue to rely on outside funding to support our operations and product development and testing efforts.  Given the financial state of our Company, we will not be able to seek traditional bank financing and have to rely on private stock sales as well as potential loans from investors and shareholders.  At this time, we have a stock subscription agreement under which the investor has the right to purchase up to $400,000.  During the nine-month period ended September 30, 2020 approximately $230,000has been purchased under this agreement, leaving a balance of approximately $170,000 available for funding.  We cannot estimate the full costs to bring our proposed product to market or the timing of such commercialization.  Given the nature of our product being in the medical field, testing is very expensive and we would need more capital prior to completing the testing phase.  Any refinement or modification of the product after the prototype is developed would also require additional capital.  At this time, we will have to continue to rely on outside capital and a budget that may require adjustment as we move further in the product development phase.

RESULTS OF OPERATIONS

Three Months Ended September 30, 2020 and 2019

For the three months ended September 30, 2020 and September 30, 2019, we had no revenues and operating expenses of $449,758 and $146,213, respectively.  The increase in operating expenses results from an increase in the use of consultants to engage with investment banking groups to raise the additional funds required to prepare our hospital unit for submission to the FDA for approval.  Shares of common stock were also issued in the nine months ended September 30, 2020, resulting in a stock-based compensation charge for stock issued to employees and for consulting services of $137,500.  For the three months ended September 30, 2020 we had other expenses of $4,066.

For the three months ended September 30, 2019, we had other expense of $4,363.  We will be dependent on outside capital to support operations for the foreseeable future and at this time do not have any commitments for additional capital beyond the $400,000 stock subscription earlier mentioned.  We do not anticipate any revenue for the foreseeable future as our products are still in the development stage.

Nine Months Ended September 30, 2020 and 2019

For the nine months ended September 30, 2020 and 2019 we had no revenues and incurred operating expenses of $1,503,517 and $813,726, respectively.  The $689,791 increase is primarily the result of the stock issued as share based compensation and for consulting services, as detailed above.  For the nine months ended September 30, 2020 and 2019, we had other expense of $12,108 and $13,229, respectively.

Off-Balance Sheet Arrangements.

The Company does not have any off-balance sheet arrangements and it is not anticipated that the Company will

18

enter into any off-balance sheet arrangements.

Forward-looking Statements

Our Company and our representatives may from time to time make written or oral statements that are “forward-looking,” including statements contained in this Quarterly Report and other filings with the Securities and Exchange Commission and in reports to our Company’s stockholders. Management believes that all statements that express expectations and projections with respect to future matters, as well as from developments beyond our Company’s control including changes in global economic conditions are forward-looking statements within the meaning of the Act. These statements are made on the basis of management’s views and assumptions, as of the time the statements are made, regarding future events and business performance. There can be no assurance, however, that management’s expectations will necessarily come to pass. Factors that may affect forward-looking statements include a wide range of factors that could materially affect future developments and performance, including the following:

Changes in Company-wide strategies, which may result in changes in the types or mix of businesses in which our Company is involved or chooses to invest; changes in U.S., global or regional economic conditions, changes in U.S. and global financial and equity markets, including significant interest rate fluctuations, which may impede our Company’s access to, or increase the cost of, external financing for our operations and investments; increased competitive pressures, both domestically and internationally, legal and regulatory developments, such as regulatory actions affecting environmental activities, the imposition by foreign countries of trade restrictions and changes in international tax laws or currency controls; adverse weather conditions or natural disasters, such as hurricanes and earthquakes, labor disputes, which may lead to increased costs or disruption of operations.

This list of factors that may affect future performance and the accuracy of forward-looking statements is illustrative, but by no means exhaustive. Accordingly, all forward-looking statements should be evaluated with the understanding of their inherent uncertainty.

Item 3.  Quantitative and Qualitative Disclosures About Market Risk.

Not applicable.

Item 4.  Controls and Procedures.

Evaluation of Disclosure Controls and Procedures

Our management, including our Chief Executive Officer and Chief Financial Officer, evaluated the effectiveness of our disclosure controls and procedures (as defined in Rules 13a-15c or 15d-15e) under the Exchange Act as of the end of the period covered by this report.  Our management does not expect that our disclosure controls and procedures will prevent all error and all fraud.  In designing and evaluating the disclosure controls and procedures, management recognized that any controls and procedures, no matter how well designed and operated, can provide only reasonable assurance of achieving the desired control objectives.

Based on that evaluation, as of December 31, 2019, our Chief Executive Officer and Chief Financial Officer concluded that our disclosure controls and procedures were not effective to provide reasonable assurance that information we are required to disclose in reports that we file or submit under the Exchange Act is recorded, processed, summarized and reported within the time periods specified in the SEC’s rules and forms, and that such information is accumulated and communicated to our management, including our Chief Executive Officer and Chief Financial Officer, as appropriate, to allow timely decisions regarding required disclosure.  

19

Changes in internal control over financial reporting

There have been no changes in internal control over financial reporting that occurred during the last fiscal quarter that has materially affected, or is reasonably likely to materially affect, the internal control over financial reporting.

PART II - OTHER INFORMATION

ITEM 1.  Legal Proceedings

None.

ITEM 1A.  Risk Factors

Not applicable

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

Recent Sales of Unregistered Securities

None.

Other Securities Transactions

None.

Use of Proceeds of Registered Securities

None.

Purchases of Equity Securities by Us and Affiliated Purchasers

During the nine months ended September 30, 2020, we have not purchased any equity securities nor have any officers or directors of the Company.

Item 3.  Quantitative and Qualitative Disclosures About Market Risk.

Not applicable.

ITEM 4.  Mine Safety Disclosure

Not applicable.

ITEM 5.  Other Information.

None.

20

ITEM 6.  Exhibits

a) Index of Exhibits:

Exhibit Table #

Title of Document

Location

31.1

Rule 13a-14(a)/15d-14a(a) Certification – CEO

This filing

31.2

Rule 13a-14(a)/15d-14a(a) Certification – CFO

This filing

32

Section 1350 Certification – CEO & CFO

This filing

101.INS

 XBRL Instance**

101.XSD 

XBRL Schema**

101.CAL

 XBRL Calculation**

101.DEF

 XBRL Definition**

101.LAB

XBRL Label**

101.PRE

XBRL Presentation**

SIGNATURES

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

NU-MED PLUS, INC.,

(Registrant)

November 16, 2020

By:  /s/ Jeffrey L. Robins

Jeffrey L. Robins, CEO, Principal Executive Officer

November 16, 2020

By: /s/Keith L. Merrell

Keith L. Merrell, CFO/Principal Accounting Officer

21

EX-31

Exhibit 31.1

CERTIFICATION PURSUANT TO

SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

     I, Jeffrey L. Robins certify that:

     1.   I have reviewed this Quarterly Report on Form 10-Q of Nu-Med Plus, Inc.;

     2.   Based on my knowledge, this report does not contain any untrue statement of a 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 period 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(s) 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 (the Registrant’s fourth fiscal quarter in the case of an annual report) 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(s) 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.

Dated: 11/16/2020                          Signature:/s/Jeffrey L. Robins

                                                         Jeffrey L. Robins

                                                         Chief Executive Officer and Principal Executive Officer

EX-31

Exhibit 31.2

CERTIFICATION PURSUANT TO

SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

     I, Keith L. Merrell certify that:

     1.   I have reviewed this Quarterly Report on Form 10-Q of Nu-Med Plus, Inc.;

     2.   Based on my knowledge, this report does not contain any untrue statement of a 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 period 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(s) 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 (the Registrant’s fourth fiscal quarter in the case of an annual report) 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(s) 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.

Dated: 11/16/2020                           Signature:/s/Keith L Merrell

                                                          Keith L. Merrell

                                                          Principal Financial Officer and CFO

EX-32

Exhibit 32

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 Nu-Med Plus, Inc. (the “Company”) on Form 10-Q for the period ending September 30, 2020 as filed with the Securities and Exchange Commission on the date hereof (the “Report”), We, Jeffrey L. Robins, our Chief Executive Officer and Director and Keith L. Merrell, our Chief/Principal Financial Officer, certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

     (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 result of operations of the Company.

Dated: 11/16/2020                             /s/Jeffrey L. Robins

                                                           Jeffrey L. Robins

                                                           Chief Executive Officer and Director

Dated: 11/16/2020                            /s/Keith L. Merrell

                                                          Keith L. Merrell

                                                          Principal Financial Officer and CFO

XML

Document and Entity Information - $ / shares		9 Months Ended
	Nov. 16, 2020	Sep. 30, 2020
Details
Registrant CIK		0001543637
Fiscal Year End		--12-31
Registrant Name		Nu-Med Plus, Inc.
SEC Form		10-Q
Period End date		Sep. 30, 2020
Tax Identification Number (TIN)		45-3672530
Number of common stock shares outstanding	50,228,469
Filer Category		Non-accelerated Filer
Current with reporting		Yes
Interactive Data Current		Yes
Shell Company		false
Small Business		true
Emerging Growth Company		true
Ex Transition Period		false
Entity File Number		000-54808
Entity Incorporation, State or Country Code		UT
Entity Address, Address Line One		455 East 500 South, Suite 203
Entity Address, City or Town		Salt Lake City
Entity Address, State or Province		UT
Entity Address, Postal Zip Code		84111
City Area Code		801
Local Phone Number		746-3570
Entity Listing, Par Value Per Share	$ 0.001
Amendment Flag		false
Document Fiscal Year Focus		2020
Document Fiscal Period Focus		Q3
Document Quarterly Report		true
Document Transition Report		false

XML

Condensed Balance Sheets - USD ($)	Sep. 30, 2020	Dec. 31, 2019
Current assets
Cash	$ 31,498	$ 7,079
Prepaid expense	592,807	6,879
Total current assets	624,305	13,958
Long-term assets
Property and equipment, net	14,281	23,425
Operating lease right-of-use of assets	10,975	8,396
Total long-term assets	25,256	31,821
Total assets	649,561	45,779
Current liabilities
Accounts payable	30,113	39,820
Accounts payable - related party	20,000	14,085
Accrued expenses	10,975	9,579
Accrued interest - related party	116,339	114,231
Operating lease liability	10,975	8,396
Convertible Promissory Notes - Related party	230,100	230,100
Total current liabilities	418,502	416,211
Long-term liabilities
Note payable	9,384	0
Long-term liabilities	9,384	0
Total liabilities	427,886	416,211
Commitments and contingencies	0	0
Stockholders' equity (deficit)
Preferred stock; $0.001 par value; 10,000,000 authorized; no shares issued and outstanding, respectively.	0	0
Common stock; $0.001 par value; 90,000,000 authorized; 50,228,469 and 44,476,625 shares issued and outstanding, as of September 30, 2020 and December 31, 2019, respectively.	50,229	44,477
Additional paid-in capital	8,219,893	5,849,784
Stock subscription payable	197,412	465,541
Accumulated deficit	(8,245,859)	(6,730,234)
Total stockholders' deficit	221,675	(370,432)
Total liabilities and stockholders' deficit	$ 649,561	$ 45,779

XML

Condensed Balance Sheets - Parenthetical - $ / shares	Sep. 30, 2020	Dec. 31, 2019
Details
Preferred Stock, Par or Stated Value Per Share	$ 0.001	$ 0.001
Preferred Stock, Shares Authorized	10,000,000	10,000,000
Preferred Stock, Shares Issued	0	0
Preferred Stock, Shares Outstanding	0	0
Common Stock, Par or Stated Value Per Share	$ 0.001	$ 0.001
Common Stock, Shares Authorized	90,000,000	90,000,000
Common Stock, Shares, Issued	50,228,469	44,476,625
Common Stock, Shares, Outstanding	50,228,469	44,476,625

XML

Condensed Statements of Operations - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Details
Revenue	$ 0	$ 0	$ 0	$ 0
Operating expenses
General and administrative expense	13,708	10,162	51,693	60,014
Payroll expense	67,465	70,476	638,797	196,456
Rent expense	4,689	4,570	14,068	13,767
Professional and consulting fees	360,848	57,871	789,814	533,159
Depreciation expense	3,048	3,134	9,144	10,330
Total operating expenses	449,758	146,213	1,503,517	813,726
Operating Loss	(449,758)	(146,213)	(1,503,517)	(813,726)
Other expense
Interest expense	(4,066)	(4,363)	(12,108)	(13,229)
Total other expense	(4,066)	(4,363)	(12,108)	(13,229)
Income tax expense	0	0	0	0
Net loss	$ (453,824)	$ (150,576)	$ (1,515,625)	$ (826,955)
Basic and diluted earnings (loss) per share	$ (0.01)	$ (0.00)	$ (0.03)	$ (0.02)
Weighted average common shares outstanding - basic and diluted	50,263,252	45,962,847	48,454,879	45,410,048

XML

Statement of Stockholders' Deficit - USD ($)	Preferred Stock	Common Stock	Additional Paid-in Capital	Other Additional Capital	Retained Earnings	Total
Common Stock, Shares, Outstanding		41,274,375
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	$ 0	$ 41,274	$ 4,851,487	$ 849,175	$ (5,693,409)	$ 48,527
Stock issued for cash		200,000
Stock issued for cash	$ 0	$ 200	49,800	0	0	50,000
Preferred Stock, Shares Outstanding, Beginning Balance at Dec. 31, 2018	0
Common Stock, Shares, Outstanding, Beginning Balance at Dec. 31, 2018		41,274,375
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Beginning Balance at Dec. 31, 2018	$ 0	$ 41,274	4,851,487	849,175	(5,693,409)	48,527
Common Stock, Shares, Outstanding		41,514,375
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	0	$ 41,514	4,961,247	849,175	(6,121,604)	(224,668)
Common Stock issued under subscription		40,000
Proceeds from issuance of common stock	0	$ 40	9,960	(10,000)	0	0
Stock issued for services performed	0	0	50,000	0	0	50,000
Net income (loss)	$ 0	$ 0	0	0	(428,195)	(428,195)
Common Stock, Shares, Outstanding, Ending Balance at Mar. 31, 2019		41,514,375
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Ending Balance at Mar. 31, 2019		$ 41,514	4,961,247	849,175	(6,121,604)	$ (224,668)
Stock issued for cash						200,000
Stock issued for cash						$ 50,000
Preferred Stock, Shares Outstanding, Beginning Balance at Dec. 31, 2018	0
Common Stock, Shares, Outstanding, Beginning Balance at Dec. 31, 2018		41,274,375
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Beginning Balance at Dec. 31, 2018	$ 0	$ 41,274	4,851,487	849,175	(5,693,409)	48,527
Common Stock, Shares, Outstanding		41,514,375
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	0	$ 41,514	5,061,247	1,114,191	(6,520,364)	(303,412)
Stock issued for accrued interest on convertible note						0
Stock issued for services performed						0
Net income (loss)						(826,955)
Common Stock, Shares, Outstanding, Ending Balance at Sep. 30, 2019		41,514,375
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Ending Balance at Sep. 30, 2019	0	$ 41,514	5,061,247	1,114,191	(6,520,364)	(303,412)
Common Stock, Shares, Outstanding		41,514,375
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest		$ 41,514	4,961,247	849,175	(6,121,604)	(224,668)
Stock subscription payable - cash	0	$ 0	0	55,000	0	55,000
Common Stock, Shares, Outstanding, Beginning Balance at Mar. 31, 2019		41,514,375
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Beginning Balance at Mar. 31, 2019		$ 41,514	4,961,247	849,175	(6,121,604)	(224,668)
Common Stock, Shares, Outstanding		41,514,375
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	0	$ 41,514	5,011,247	1,009,773	(6,369,788)	(307,254)
Stock issued for services performed	0	0	50,000	0	0	50,000
Net income (loss)	0	0	0	0	(248,184)	(248,184)
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Ending Balance at Jun. 30, 2019	0	41,514	5,011,247	1,009,773	(6,369,788)	(307,254)
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	0	41,514	5,011,247	1,009,773	(6,369,788)	(307,254)
Stock subscription payable - cash	0	$ 0	0	115,598	0	115,598
Common Stock, Shares, Outstanding		41,514,375
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	0	$ 41,514	5,061,247	1,114,191	(6,520,364)	(303,412)
Stock issued for services performed	0	0	50,000	0	0	50,000
Net income (loss)	0	$ 0	0	0	(150,576)	(150,576)
Common Stock, Shares, Outstanding, Ending Balance at Sep. 30, 2019		41,514,375
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Ending Balance at Sep. 30, 2019	0	$ 41,514	5,061,247	1,114,191	(6,520,364)	(303,412)
Common Stock, Shares, Outstanding		41,514,375
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	0	$ 41,514	5,061,247	1,114,191	(6,520,364)	(303,412)
Stock subscription payable - cash	0	$ 0	0	104,418	0	$ 104,418
Common Stock, Shares, Outstanding		44,476,625				44,476,625
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	$ 0	$ 44,477	5,849,784	465,541	(6,730,234)	$ (370,432)
Preferred Stock, Shares Outstanding, Beginning Balance at Dec. 31, 2019	0					0
Common Stock, Shares, Outstanding, Beginning Balance at Dec. 31, 2019		44,476,625				44,476,625
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Beginning Balance at Dec. 31, 2019	$ 0	$ 44,477	5,849,784	465,541	(6,730,234)	$ (370,432)
Common Stock, Shares, Outstanding		44,476,625				44,476,625
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	0	$ 44,447	5,899,784	571,980	(6,883,568)	$ (367,327)
Stock issued for services performed	0	0	50,000	0	0	50,000
Net income (loss)	$ 0	$ 0	0	0	(153,334)	(153,334)
Common Stock, Shares, Outstanding, Ending Balance at Mar. 31, 2020		44,476,625
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Ending Balance at Mar. 31, 2020		$ 44,447	5,899,784	571,980	(6,883,568)	$ (367,327)
Preferred Stock, Shares Outstanding, Beginning Balance at Dec. 31, 2019	0					0
Common Stock, Shares, Outstanding, Beginning Balance at Dec. 31, 2019		44,476,625				44,476,625
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Beginning Balance at Dec. 31, 2019	$ 0	$ 44,477	5,849,784	465,541	(6,730,234)	$ (370,432)
Common Stock, Shares, Outstanding		50,228,469				44,476,625
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	0	$ 50,229	8,219,893	197,412	(8,245,889)	$ 221,675
Common Stock issued under subscription						2,706,844
Stock issued for accrued interest on convertible note						1,000,000
Stock issued for accrued interest on convertible note						$ 10,000
Stock issued for prepaid services						$ 940,500
Stock issued for services performed						500,000
Stock issued for services performed						$ 798,650
Net income (loss)						$ (1,515,625)
Common Stock, Shares, Outstanding, Ending Balance at Sep. 30, 2020		50,228,469				50,228,469
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Ending Balance at Sep. 30, 2020	0	$ 50,229	8,219,893	197,412	(8,245,889)	$ 221,675
Common Stock, Shares, Outstanding		44,476,625
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest		$ 44,447	5,899,784	571,980	(6,883,568)	(367,327)
Stock subscription payable - cash	0	$ 0	0	106,439	0	106,439
Common Stock, Shares, Outstanding, Beginning Balance at Mar. 31, 2020		44,476,625
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Beginning Balance at Mar. 31, 2020		$ 44,447	5,899,784	571,980	(6,883,568)	(367,327)
Common Stock, Shares, Outstanding		50,228,469
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	0	$ 50,229	8,132,393	21,000	(7,792,035)	411,587
Common Stock issued under subscription		2,706,844
Proceeds from issuance of common stock	0	$ 2,707	674,004	(676,711)	0	0
Stock issued for accrued interest on convertible note		1,000,000
Stock issued for accrued interest on convertible note	0	$ 1,000	9,000	0	0	10,000
Stock issued for prepaid services		1,400,000
Stock issued for prepaid services	0	$ 1,400	939,100	0	0	940,500
Stock issued for services performed		645,000
Stock issued for services performed	0	$ 645	610,505	0	0	611,150
Net income (loss)	0	$ 0	0	0	(908,467)	(908,467)
Common Stock, Shares, Outstanding, Ending Balance at Jun. 30, 2020		50,228,469
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Ending Balance at Jun. 30, 2020	0	$ 50,229	8,132,393	21,000	(7,792,035)	411,587
Common Stock, Shares, Outstanding		50,228,469
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	0	$ 50,229	8,132,393	21,000	(7,792,035)	411,587
Stock subscription payable - cash	0	$ 0	0	125,731	0	$ 125,731
Common Stock, Shares, Outstanding		50,228,469				50,228,469
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	0	$ 50,229	8,219,893	197,412	(8,245,889)	$ 221,675
Stock issued for services performed	0	0	87,500	0	0	87,500
Net income (loss)	0	$ 0	0	0	(453,824)	$ (453,824)
Common Stock, Shares, Outstanding, Ending Balance at Sep. 30, 2020		50,228,469				50,228,469
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Ending Balance at Sep. 30, 2020	0	$ 50,229	8,219,893	197,412	(8,245,889)	$ 221,675
Common Stock, Shares, Outstanding		50,228,469				50,228,469
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	0	$ 50,229	8,219,893	197,412	(8,245,889)	$ 221,675
Stock subscription payable - cash	$ 0	$ 0	$ 0	$ 126,412	$ 0	$ 126,412

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Condensed Statements of Cash Flows - USD ($)	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Cash flows from operating activities:
Net income (loss)	$ (1,515,625)	$ (826,955)
Adjustment to reconcile net income (loss) to net cash used in operating activities:
Depreciation	9,144	10,330
Amortization of prepaid consulting	356,807	0
Amortization of right of use asset	9,355	8,064
Stock issued for services performed	798,650	0
Stock-based compensation	0	356,250
(Increase) decrease in prepaid expenses	(2,235)	8,512
(Increase) decrease in operating lease liability	(9,355)	(8,064)
Increase (decrease) in accounts payable	(9,707)	9,150
Increase (decrease) in related party payables	5,915	5,034
Increase (decrease) in accrued expense	13,504	(4,997)
Net cash used in operating activities	(343,547)	(442,676)
Cash flows from investing activities:
Net cash used in investing activities	0	0
Cash flows from financing activities
Proceeds from stock subscriptions payable	358,582	275,016
Proceeds from notes payable	9,384	0
Proceeds from issuance of common stock	0	50,000
Payments on financing lease	0	(8,015)
Net cash provided by financing activities	367,966	317,001
Net increase (decrease) in cash	24,419	(125,675)
Cash at beginning of period	7,079	167,513
Cash at end of period	31,498	41,838
Supplemental schedule of cash flow information
Cash paid for interest	0	1,175
Cash paid for income tax	0	0
Common stock issued for subscription payable	676,711	10,000
Right-of-use operating lease assets obtained in exchange for operating lease liabilities	11,934	19,482
Conversion of accrued interest for common stock	10,000	0
Common stock issued for prepaid services	$ 940,500	$ 0

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Organization and Description of Business

9 Months Ended

Sep. 30, 2020

Notes

Organization and Description of Business

NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

The recent COVID 19 Pandemic (“the Pandemic”) has had a dramatic effect on our business as well as the business of our contract developers.  The wide ranging effects on the World Wide business market has led to a closure or partial closure of firms we are relying on in our product development. As a result their work on our project has been slowed.  While we cannot predict when the influence of the Pandemic will end, we trust businesses will be able to open and expand activities to their former levels and increase following a return to normal operations.  

a. Basis of Presentation

The accompanying unaudited condensed consolidated financial statements include the accounts of Nu-Med Plus, Inc. (the “Company”). These financial statements are condensed and, therefore, do not include all disclosures normally required by accounting principles generally accepted in the United States of America. Therefore, these statements should be read in conjunction with the most recent annual consolidated financial statements of Nu-Med Plus, Inc. for the year ended December 31, 2019 included in the Company’s Form 10-K filed with the Securities and Exchange Commission on March 30, 2020. In particular, the Company’s significant accounting principles were presented as Note 1 to the Consolidated Financial Statements in that report. In the opinion of management, all adjustments necessary for a fair presentation have been included in the accompanying condensed consolidated financial statements and consist of only normal recurring adjustments. The results of operations presented in the accompanying condensed consolidated financial statements are not necessarily indicative of the results that may be expected for the full year ending December 31, 2020.

The Financial Accounting Standards Board (“FASB”) issued new guidance for the recognizing and reporting of revenue, ASU 2014-09, Revenue from Contracts with Customers (“ASC606”).  The effective date for implementation for public companies was January 1, 2018.

The new guidance established a five-step analysis to be followed when determining the recognition of revenue.

1. Identify the contract with a customer. 

2.Identify the performance obligations in the contract. 

3.Determine the transaction price. 

4.Allocate the transaction price to the performance obligations in the contract. 

5.Recognize revenue when, or as, the reporting organization satisfied a performance obligation. 

While the Company is an early-stage company with no revenue, at the time we begin to generate revenue the Company will recognize such revenue in conformity with the guidelines set forth by ASC 606.

c. Estimates

The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period.  Actual results could differ from those estimates.

d. Cash and Cash Equivalents

The Company considers all deposit accounts and investment accounts with an original maturity of 90 days or less to be cash equivalents.  The cash balance we currently have on deposit is within the limits for which the FDIC insures.

e. Property and Equipment

Property and equipment is stated at cost.  Expenditure for minor repairs, maintenance, and replacement parts which do not increase the useful lives of the assets are charged to expense as incurred. Expenditures exceeding $500 for new assets or that increase the useful life of existing assets are capitalized.  Depreciation is computed using the straight-line method.  The lives over which the fixed assets are depreciated are five to seven years.

f. Fair Value

Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date.  FASB Accounting Standards Codification (“ASC”) Topic 820 establishes a three-tier fair value hierarchy that prioritizes the inputs used in measuring fair value.  The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (level 1 measurements) and the lowest priority to unobservable inputs (level 3 measurements), as follows:

Level 1 - Quoted market prices in active markets for identical assets or liabilities;

Level 2 - Inputs other than level one inputs that are either directly or indirectly observable; and

Level 3 - Unobservable inputs developed using estimates and assumptions, which are developed by the reporting entity and reflect those assumptions that a market participant would use.

All cash, accounts payable and accrued liabilities are carried at cost, which approximates fair value due to the short-term nature of these financial instruments.  Additionally, we measure certain financial instruments at fair value on a recurring basis.

g. Earnings per Share

The computation of earnings per share of common stock is based on the weighted average number of shares outstanding during the period of the financial statement. The company included 589,648 and 4,453,012 shares subscribed but unissued in its calculation of basic and diluted earnings per share for the three and nine months ended September 30, 2020 and 2019, respectively.

	Three months ended September 30, 2020	Three months ended September 30, 2019	Nine months ended September 30, 2020	Nine months ended September 30, 2019
Net loss (numerator)	$(453,824)	$(150,576)	$(1,515,625)	$(826,955)
Shares (denominator)	50,263,252	45,962,847	48,753,660	45,410,048
Net loss per share amount – basic and diluted	$(0.01)	$(0.00)	$(0.03)	$(0.02)

Diluted earnings per share is computed using the weighted average number of common shares plus dilutive common share equivalents outstanding during the period. As of September 30, 2020 and 2019 there were 34,643,900 and 34,026,500, respectively, potential dilutive shares that needed to be considered as common share equivalents.

As of September 30, 2020 and 2019 the dilutive shares were excluded from the calculation for diluted earnings per share as there was a net loss and their inclusion in the calculation would be anti-dilutive.

h. Concentrations and Credit Risk

The Company has relied on a small group of investors to fund its operations.  If this group becomes unable or unwilling to provide additional funding, the Company may be unable to remain in business or to execute on its business plan.

i. Income Taxes

Deferred taxes are provided on an asset and liability approach whereby deferred tax assets are recognized for deductible temporary differences and operating loss and tax credit carryforwards and deferred tax liabilities are recognized for taxable temporary differences. Temporary differences are the differences between the reported amounts of assets and liabilities and their tax basis.  Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized.  Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the date of enactment.

j. Stock-based Compensation

The Company, in accordance with ASC 718, Compensation – Stock Compensation, records all share-based payments to employees at the grant-date fair value of the equity instruments issued. In accordance with ASC 718-10-30-9, Measurement Objective – Fair Value at Grant Date, the Company uses the closing price of the stock, as quoted by NASDAQ, on the date of the grant.  The Company believes this pricing method provides the best estimate of fair the fair value of the consideration given.  Compensation cost is recognized over the requisite service period.

k.  Leases

The Company accounts for all leases in accordance with ASC 842, Leases, recognizing both assets and liabilities on the balance sheet for the right to use those assets for the lease term and obligations to make the lease payments created by those leases that have terms of greater than twelve months.

l. Recent Accounting Pronouncements

The Company has reviewed all recently issued, but not yet adopted, accounting standards in order to determine their effects, if any, on its consolidated results of operation, financial position and cash flows.  Based on that review, the Company believes that none of these pronouncements will have a significant effect on its current or future earnings or operations.

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GOING CONCERN

9 Months Ended

Sep. 30, 2020

Notes

GOING CONCERN

NOTE 2 - GOING CONCERN

The Company acknowledges that the funds on hand as of September 30, 2020, will not be sufficient to enable it to execute its business plan and will require funding through the sale of equity capital and short term related party and other shareholder loans in order to meet the planned expenditures for development, operations, and administrative cost over the next 12 months will be required. Planned expenditures are approximately $1,200,000 for the next twelve months. The Company is currently funded through November 30, 2020. If plans to obtain further financing prove to be insufficient to fund operations, continued viability could be at risk. These factors raise substantial doubt about the Company's ability to continue as a going concern.

XML

Property and Equipment

9 Months Ended

Sep. 30, 2020

Notes

Property and Equipment

NOTE 3 – PROPERTY AND EQUIPMENT

Property and equipment and related accumulated depreciation consisted of the following at September 30, 2020, and December 31, 2019:

	September 30, 2020	December 31, 2019
Computer and office equipment	$                   90,368	$                      90,368
Accumulated depreciation	(76,087)	(66,943)
Total Fixed Assets	$                    14,281	$                      23,425

Depreciation expense for the nine months ended September 30, 2020 and 2019 was $9,144 and $10,330, respectively.

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Preferred and Common Stock

9 Months Ended

Sep. 30, 2020

Notes

Preferred and Common Stock

NOTE 4 - PREFERRED STOCK

On October 19, 2011, the Company filed Articles of Incorporation with the State of Utah so as to authorize 10,000,000 shares of preferred stock having a par value of $0.001 per share. No preferred shares are issued or outstanding at September 30, 2020.

NOTE 5 - COMMON STOCK

Stock Subscription Payable

At September 30, 2020 and December 31, 2019, the Company had $197,412 and $465,541, respectively, in stock subscriptions payable for which it is obligated to issue 589,648 and 1,862,164 shares of restricted common stock, respectively, pursuant to separate subscription agreements.

April 2020 Subscription Agreement

In April 2020, the Company entered into a stock purchase agreement with a related party, significant shareholder and debt holder, under which the buyer may purchase up to $400,000 in shares of common stock at $0.25 per share.  The agreement expires on December 31, 2021.  The Company received $229,518 under this agreement in the nine months ended September 30, 2020.  At the date of this report 328,424 shares of common stock have been issued, leaving a balance of 589,648 shares to be issued.  As of September 30, 2020 a total of 681,928 shares of common stock for $170,482 are available for purchase under this agreement.

July 2019 Subscription Agreement

In July 2019, the Company entered into a stock purchase agreement with a related party, significant shareholder and debt holder, under which the buyer may purchase up to $250,000 in shares of common stock at $0.25 per share.  The agreement expires on December 31, 2020.  The Company received $129,064 under this agreement during 2020 and $120,936 in 2019. In June 2020 the Company issued 1,000,000 shares of common stock in settlement of its obligations under this agreement.

September 2017 Subscription Agreement

In September 2017, the Company entered into a stock purchase agreement with a related party, significant shareholder and debt holder, under which the buyer may purchase up to $400,000 in shares of common stock at $0.25 per share.  This agreement expired on August 30, 2018.  The Company received $153,070  under this agreement during 2018 and $246,930 during 2019.  In June 2020 the Company issued 1,600,000 shares of restricted common stock in settlement of its obligations under this agreement. In the nine months ended September 30, 2020 the Company issued a total of 5,751,844 shares of common stock.  Of the total 2,706,844 was issued in settlement of stock subscriptions payable, 1,000,000 shares were issued from the conversion of accrued interest on notes payable, and 2,245,000 was issued for services performed and services to be performed.

Common Stock Issued for Services

See also Common Stock Issued for Services below.

Common Stock Issued for Cash

During the nine months ending September 30, 2019, the Company issued 200,000 shares of restricted common stock for $50,000 to an unrelated investor.  

Common Stock Issued for conversion of liabilities

During the nine months ended September 30, 2020, the Company issued 1,000,000 shares of restricted common stock in exchange for the conversion of $10,000 of accrued interest on notes payable.

Common Stock Issued to Officer

On February 14, 2018 the Company announced that the consulting agreement with the Chief Financial Officer (Mr. Merrell) was terminated effective December 31, 2017, and that a new agreement was entered into effective January 1, 2018 under which Mr. Merrell would receive 2,000,000 shares of restricted common stock, vesting at 500,000 shares per year, for his service.  The term of the agreement is for one year, which term automatically renews for one year extensions up to four years unless terminated by either party with 30 days written notice.  The Company issued all 2,000,000 shares to Mr. Merrell on August 20, 2018.  Any common shares not earned during the four year period are to be returned or cancelled.  A charge will be made each quarter as the shares are earned under the provisions of the agreement until such time as all shares have been earned.  A charge of $150,000 and $150,000 was recorded for the nine months ended September 30, 2020 and 2019, respectively.  In June 2020 Mr. Merrell was issued an additional 500,000 shares which vested at issuance, resulting in a $435,000 stock-based compensation charge recorded in the nine-month period ended September 30, 2020.

Common Stock Issued for Services

During the nine months ended September 30, 2020 the Company issued 1,545,000 shares of restricted common stock to consultants for services performed and/or to be performed.  The issuances were valued at $1,066,650 and of that amount, $940,500 was recorded as prepaid assets and the remaining $126,150 recorded as stock-based compensation. The Company subsequently amortized $356,807 of the prepaid expenses as professional and consulting fees.  As of September 30, 2020, the remaining prepaid balance of $583,693 remains to be amortized as the services are performed.

In September 2020, the Company entered into a consulting agreement with Waterside Capital Advisers, Inc. to raise capital for the Company and provide other consulting services.  Under the terms of the agreement, 50,000 shares of common stock were to be issued upon signing the agreement, 75,000 shares of common stock were to be issued 30 days after the signing date and an additional 75,000 shares are to be issued 60 days after the signing date.  Accordingly, the Company valued the shares at $200,000 of which $50,000 has been recorded as common stock payable as of September 30, 2020.  The Company recorded $87,500 in stock-based compensation to Waterside during the period ended September 30, 2020.  The remaining balance of $112,500 will be expensed in the final quarter of 2020.  Further, the agreement contains a long-term incentive whereby an additional 2,000,000 shares of common stock may be earned by the consultant upon the achieving of certain milestones as detailed in the agreement.

In September 2018, the Company issued 650,000 shares of stock to two consultants.  Of these shares, 150,000 were issued under a consulting contract for services rendered and vested upon issue and 500,000 shares of restricted stock were issued to a consultant for services rendered and to be rendered through June 1, 2019.  The common stock was valued at $639,000, of which $432,750 was expensed during the year ended December 31, 2018.  The remaining balance of $206,250 was expensed during the year ended December 31, 2019.

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Convertible Notes and Derivative Liability

9 Months Ended

Sep. 30, 2020

Notes

Convertible Notes and Derivative Liability

NOTE 6 – PROMISSORY NOTES

$100,000 Convertible Promissory Note

On November 12, 2012, the Company issued a $100,000 convertible promissory note to SCS, a related party and significant shareholder, as compensation for services provided during the period April 1, 2012 through March 31, 2013.  The note is due on demand, had an annual interest of 5.5%, and is convertible into shares of common stock at a conversion price to be agreed upon immediately prior to conversion.  On September 27, 2013, the Company amended the note to include a conversion price which of $0.01 per share for all unpaid principal and interest.  As of September 30, 2020 and December 31, 2019 interest accrued, but unpaid, was $54,427 and $47,899, respectively.  At September 30, 2020 the balance of the note is $100,000, with $54,427 in accrued unpaid interest.

$130,100 Convertible Promissory Note

Prior to 2015, the Company entered into a convertible promissory note with SCS, a related party and significant shareholder, due on demand, bearing interest at 8% per annum, unsecured and convertible at $0.01 per share, with a price protection provision to a lower conversion price.  The balance of this note was $130,100 at September 30, 2020 and December 31, 2019 with the accrued interest balances of $63,674 and $65,861, respectively.  During the nine-month period ended September 30, 2020, the Company received a request to convert $10,000 of interest accrued and unpaid to shares of restricted common stock.  Under the conversion terms of the agreement 1,000,000 shares of restricted stock were issued.  At September 30, 2020 the balance of the note is $130,100, with $63,674 of accrued unpaid interest.

$9,384 Promissory Note

The Company applied for and received a $9,384 loan under the Paycheck Protection Program administered by the Small Business Administration.  The note bears an annual interest rate of 1% and has a maturity date of May 8, 2022.  The terms of the loan provide that an application for forgiveness of the loan amount may be requested if the funds were used for payroll, medical insurance, rent and utilities.  As all of the funds were used in the allowable categories, the Company will file an application for forgiveness as soon as the bank makes available the form for such request.

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Commitments and Contingencies

9 Months Ended

Sep. 30, 2020

Notes

Commitments and Contingencies

NOTE 7 - COMMITMENTS AND CONTINGENCIES

The Company has obligations under both a financing lease and operating lease, as detailed below.

Operating Lease Obligations

The Company entered into a lease for office space in February 2017 and has signed various extensions since the, the latest of which expired on August 20202.  In August 2020 the Company extended the lease agreement through August 31, 2021 at a rate of $1,038 per month.  

Amortization of $9,355 was recorded as rent expense in the nine month period ended September 30, 2020, leaving an operating right-of-use asset at September 30, 2020 of $10,975 and an operating lease liability of $10,975.  Cash payments of $9,343 were made for rent expense for the nine month period ended September 30, 2020.

Obligations under this lease are as follows:

	2020	2021	2022
Office lease	$    3,114	$      8,305	$                   -

Upon the adoption of ASC 842, the calculation of our lease obligation using a discount rate of 8% resulted in an immaterial difference and therefore, no interest will be imputed on the lease obligation.  There are eleven months remaining on the office lease, which terminates August 31, 2021.

Consulting Agreement

In September 2020, the Company entered into a consulting agreement with Waterside Capital Advisers, Inc. to raise capital for the Company and provide other consulting services.  Under the terms of the agreement, 50,000 shares of common stock were to be issued upon signing the agreement, 75,000 shares of common stock were to be issued 30 days after the signing date and an additional 75,000 shares are to be issued 60 days after the signing date.  Accordingly, the Company valued the shares at $200,000 of which $50,000 has been recorded as common stock payable as of September 30, 2020.  The Company recorded $87,500 in stock-based compensation to Waterside during the period ended September 30, 2020.  The remaining balance of $112,500 will be expensed in the final quarter of 2020.

The agreement also provides that the consultant be paid $5,000 per month for services, which fee will be accrued until such time as the Company and consultant agree acceptable financing has been raised, at which point payment of all accrued but unpaid fees will be made.  In accordance with the agreement a $2,500 consultant fee was accrued for the last half of September 2020.  Further, the agreement contains a long-term incentive whereby an additional 2,000,000 shares of common stock may be earned by the consultant upon the achieving of certain milestones as detailed in the agreement.

In June 2020, the Company entered into consulting agreements with Roger Gill and Peter Kristensen.  Both of the agreements begin June 22, 2020 and run for a period of twelve months, terminating June 30, 2021.  Under the terms of the agreements Mr. Gill will receive 500,000 shares of restricted common stock and Mr. Kristensen will receive 100,000 shares of restricted stock for their services.  The fair-value of the stock was $565,500 and was recorded as a prepaid. During the nine months, the company amortized $153,382 of the prepaid expense.  As of September 30, 2020, the remaining $412,118 was remaining in prepaid expenses, to be amortized over the term of the agreements.

On March 15, 2020 the Company entered into a service agreement with Hanover International, Inc. to provide advisory services to the Company.  The contract is a one year contract, but may be cancelled with thirty days notice any time after the 91^st day of the agreement.  Hanover will receive a fee of $3,500 per month, from which fee it pays all of its expenses.  In addition, Hanover will receive 750,000 shares of restricted common stock, earned in quarterly tranches of 187,500 shares, deemed earned and issuable after services are provided for each quarter. As of September 30, 2020 all of the shares to which the Company is obligated under this agreement have been issued, with the unearned portion included in prepaid expenses.  The shares were issued at $0.50 per share for a total value of $375,000.  The amount has been recorded in prepaid expenses, with $203,425 of the total being expensed in the nine-month period ended September 30, 2020.  The remaining prepaid amount of $171,575 will be amortized over the remaining life of the agreement.

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Subsequent Events

9 Months Ended

Sep. 30, 2020

Notes

Subsequent Events

NOTE 8 - SUBSEQUENT EVENTS

The Company has evaluated subsequent events pursuant to ASC Topic 855 and has determined that there are no other events that require disclosure as of the date of issuance.

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Organization and Description of Business (Policies)

9 Months Ended

Sep. 30, 2020

Policies

Accounting Method

NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

The recent COVID 19 Pandemic (“the Pandemic”) has had a dramatic effect on our business as well as the business of our contract developers.  The wide ranging effects on the World Wide business market has led to a closure or partial closure of firms we are relying on in our product development. As a result their work on our project has been slowed.  While we cannot predict when the influence of the Pandemic will end, we trust businesses will be able to open and expand activities to their former levels and increase following a return to normal operations.  

a. Basis of Presentation

The accompanying unaudited condensed consolidated financial statements include the accounts of Nu-Med Plus, Inc. (the “Company”). These financial statements are condensed and, therefore, do not include all disclosures normally required by accounting principles generally accepted in the United States of America. Therefore, these statements should be read in conjunction with the most recent annual consolidated financial statements of Nu-Med Plus, Inc. for the year ended December 31, 2019 included in the Company’s Form 10-K filed with the Securities and Exchange Commission on March 30, 2020. In particular, the Company’s significant accounting principles were presented as Note 1 to the Consolidated Financial Statements in that report. In the opinion of management, all adjustments necessary for a fair presentation have been included in the accompanying condensed consolidated financial statements and consist of only normal recurring adjustments. The results of operations presented in the accompanying condensed consolidated financial statements are not necessarily indicative of the results that may be expected for the full year ending December 31, 2020.

Revenue Recognition

The Financial Accounting Standards Board (“FASB”) issued new guidance for the recognizing and reporting of revenue, ASU 2014-09, Revenue from Contracts with Customers (“ASC606”).  The effective date for implementation for public companies was January 1, 2018.

The new guidance established a five-step analysis to be followed when determining the recognition of revenue.

1. Identify the contract with a customer. 

2.Identify the performance obligations in the contract. 

3.Determine the transaction price. 

4.Allocate the transaction price to the performance obligations in the contract. 

5.Recognize revenue when, or as, the reporting organization satisfied a performance obligation. 

While the Company is an early-stage company with no revenue, at the time we begin to generate revenue the Company will recognize such revenue in conformity with the guidelines set forth by ASC 606.

Estimates

c. Estimates

The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period.  Actual results could differ from those estimates.

Cash and Cash Equivalents

d. Cash and Cash Equivalents

The Company considers all deposit accounts and investment accounts with an original maturity of 90 days or less to be cash equivalents.  The cash balance we currently have on deposit is within the limits for which the FDIC insures.

Property and equipment

e. Property and Equipment

Property and equipment is stated at cost.  Expenditure for minor repairs, maintenance, and replacement parts which do not increase the useful lives of the assets are charged to expense as incurred. Expenditures exceeding $500 for new assets or that increase the useful life of existing assets are capitalized.  Depreciation is computed using the straight-line method.  The lives over which the fixed assets are depreciated are five to seven years.

Fair Value

f. Fair Value

Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date.  FASB Accounting Standards Codification (“ASC”) Topic 820 establishes a three-tier fair value hierarchy that prioritizes the inputs used in measuring fair value.  The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (level 1 measurements) and the lowest priority to unobservable inputs (level 3 measurements), as follows:

Level 1 - Quoted market prices in active markets for identical assets or liabilities;

Level 2 - Inputs other than level one inputs that are either directly or indirectly observable; and

Level 3 - Unobservable inputs developed using estimates and assumptions, which are developed by the reporting entity and reflect those assumptions that a market participant would use.

All cash, accounts payable and accrued liabilities are carried at cost, which approximates fair value due to the short-term nature of these financial instruments.  Additionally, we measure certain financial instruments at fair value on a recurring basis.

Earnings Per Share

g. Earnings per Share

The computation of earnings per share of common stock is based on the weighted average number of shares outstanding during the period of the financial statement. The company included 589,648 and 4,453,012 shares subscribed but unissued in its calculation of basic and diluted earnings per share for the three and nine months ended September 30, 2020 and 2019, respectively.

	Three months ended September 30, 2020	Three months ended September 30, 2019	Nine months ended September 30, 2020	Nine months ended September 30, 2019
Net loss (numerator)	$(453,824)	$(150,576)	$(1,515,625)	$(826,955)
Shares (denominator)	50,263,252	45,962,847	48,753,660	45,410,048
Net loss per share amount – basic and diluted	$(0.01)	$(0.00)	$(0.03)	$(0.02)

Diluted earnings per share is computed using the weighted average number of common shares plus dilutive common share equivalents outstanding during the period. As of September 30, 2020 and 2019 there were 34,643,900 and 34,026,500, respectively, potential dilutive shares that needed to be considered as common share equivalents.

As of September 30, 2020 and 2019 the dilutive shares were excluded from the calculation for diluted earnings per share as there was a net loss and their inclusion in the calculation would be anti-dilutive.

Concentration and Credit Risk

h. Concentrations and Credit Risk

The Company has relied on a small group of investors to fund its operations.  If this group becomes unable or unwilling to provide additional funding, the Company may be unable to remain in business or to execute on its business plan.

Income Taxes

i. Income Taxes

Deferred taxes are provided on an asset and liability approach whereby deferred tax assets are recognized for deductible temporary differences and operating loss and tax credit carryforwards and deferred tax liabilities are recognized for taxable temporary differences. Temporary differences are the differences between the reported amounts of assets and liabilities and their tax basis.  Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized.  Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the date of enactment.

Equity Instruments Issued For Non-cash Items

j. Stock-based Compensation

The Company, in accordance with ASC 718, Compensation – Stock Compensation, records all share-based payments to employees at the grant-date fair value of the equity instruments issued. In accordance with ASC 718-10-30-9, Measurement Objective – Fair Value at Grant Date, the Company uses the closing price of the stock, as quoted by NASDAQ, on the date of the grant.  The Company believes this pricing method provides the best estimate of fair the fair value of the consideration given.  Compensation cost is recognized over the requisite service period.

Leases

k.  Leases

The Company accounts for all leases in accordance with ASC 842, Leases, recognizing both assets and liabilities on the balance sheet for the right to use those assets for the lease term and obligations to make the lease payments created by those leases that have terms of greater than twelve months.

New Accounting Pronouncements

l. Recent Accounting Pronouncements

The Company has reviewed all recently issued, but not yet adopted, accounting standards in order to determine their effects, if any, on its consolidated results of operation, financial position and cash flows.  Based on that review, the Company believes that none of these pronouncements will have a significant effect on its current or future earnings or operations.

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Organization and Description of Business (Tables)

9 Months Ended

Sep. 30, 2020

Tables/Schedules

Schedule of Earnings Per Share, Basic and Diluted

	Three months ended September 30, 2020	Three months ended September 30, 2019	Nine months ended September 30, 2020	Nine months ended September 30, 2019
Net loss (numerator)	$(453,824)	$(150,576)	$(1,515,625)	$(826,955)
Shares (denominator)	50,263,252	45,962,847	48,753,660	45,410,048
Net loss per share amount – basic and diluted	$(0.01)	$(0.00)	$(0.03)	$(0.02)

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Property and Equipment (Tables)

9 Months Ended

Sep. 30, 2020

Tables/Schedules

Property, Plant and Equipment

	September 30, 2020	December 31, 2019
Computer and office equipment	$                   90,368	$                      90,368
Accumulated depreciation	(76,087)	(66,943)
Total Fixed Assets	$                    14,281	$                      23,425

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Commitments and Contingencies (Tables)

9 Months Ended

Sep. 30, 2020

Tables/Schedules

Schedule of Future Minimum Lease Payments for Capital Leases

	2020	2021	2022
Office lease	$    3,114	$      8,305	$                   -

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Organization and Description of Business (Details) - USD ($)		3 Months Ended		9 Months Ended
	Dec. 31, 2019	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Details
Stock Issued During Period, Shares, Period Increase (Decrease)	1,862,164			589,648	4,453,012
Net Income (Loss) Available to Common Stockholders, Basic		$ (453,824)	$ (150,576)	$ (1,515,625)	$ (826,955)
Weighted Average Number of Shares Outstanding, Basic		50,263,252	45,962,847	48,753,660	45,410,048
Basic and diluted earnings (loss) per share		$ (0.01)	$ (0.00)	$ (0.03)	$ (0.02)
Dilutive Shares		34,643,900	34,026,500

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GOING CONCERN (Details)	9 Months Ended
	Sep. 30, 2020 USD ($)
Details
Planned expenditures	$ 1,200,000

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Property and Equipment (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Details
Property, Plant and Equipment, Gross	$ 90,368		$ 90,368		$ 90,368
Accumulated Depreciation	(76,087)		(76,087)		(66,943)
Property and equipment, net	14,281		14,281		$ 23,425
Depreciation expense	$ 3,048	$ 3,134	$ 9,144	$ 10,330

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Preferred and Common Stock (Details) - USD ($)					1 Months Ended			3 Months Ended						6 Months Ended	9 Months Ended		12 Months Ended
	Apr. 02, 2020	Dec. 31, 2019	Jul. 02, 2019	Dec. 31, 2018	Sep. 30, 2020	Jun. 30, 2020	Sep. 30, 2018	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Jun. 30, 2020	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019	Dec. 31, 2018	Sep. 02, 2017
Details
Preferred Stock, Shares Authorized		10,000,000			10,000,000			10,000,000							10,000,000		10,000,000
Preferred Stock, Par or Stated Value Per Share		$ 0.001			$ 0.001			$ 0.001							$ 0.001		$ 0.001
Common Stock, Share Subscribed but Unissued, Subscriptions Receivable		$ 465,541			$ 197,412			$ 197,412							$ 197,412		$ 465,541
Stock Issued During Period, Shares, Period Increase (Decrease)		1,862,164													589,648	4,453,012
400,000 Stock Subscription Amount															$ 400,000
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Exercise Price	$ 0.25		$ 0.25																$ 0.25
400,000 Amount Used From Subscription															229,518		$ 246,930
Shares Issued Under $400,000 Stock Purchase Agreement	328,424
Shares Under $400,000 Stock Purchase Agreement	681,928
400,000 Amount Available From Subscription															170,482
250,000 Stock Subscription Amount															$ 250,000
250,000 Amount Used From Subscription								129,064			$ 120,936
Shares Under $250,000 Stock Purchase Agreement			1,000,000
400,000 Amount Used From Subscription In Prior Periods																		$ 153,070
Common Stock issued under subscription						1,600,000									2,706,844
Total Shares Issued															5,751,844
Stock issued for accrued interest on convertible note															1,000,000
Total Shares Issued for services performed and to be performed															2,245,000
Stock issued for cash																200,000
Stock issued for cash													$ 50,000			$ 50,000
Conversion of accrued interest for common stock									$ 10,000						$ 10,000	0
Merrell stock compensation															2,000,000
Stock issued for services performed						1,545,000	650,000								500,000
Merrell stock compensation Amount															$ 150,000	150,000
Merrell additional stock compensation															500,000
Merrell additional stock compensation Amount															$ 435,000
1545000 shares issued for services														$ 1,066,650
Stock issued for prepaid services									940,500						940,500
1545000 shares issued for services amount paid														126,150
Amortization of prepaid consulting					$ 356,807			356,807			0				356,807	0
1545000 shares issued for services amount balance														$ 583,693
WatersideCapitalAdvisersigningshares					50,000
WatersideCapitalAdviser30dayshares					75,000
WatersideCapitalAdviser60dayshares					75,000
WatersideCapitalAdvisersharevalue					$ 200,000
WatersideCapitalAdvisercommonstockpayableamount					50,000
Stock issued for services performed							$ 639,000	$ 87,500	$ 611,150	$ 50,000	$ 50,000	$ 50,000	$ 50,000		$ 798,650	$ 0
WatersideCapitalAdviserremainingbalance					$ 112,500
WatersideCapitalAdviserincentiveshares					2,000,000
Consulting stock compensation 1															150,000
Consulting stock compensation 2															500,000
Consulting expense		$ 206,250		$ 432,750	$ 2,500

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Convertible Notes and Derivative Liability (Details) - USD ($)	3 Months Ended	9 Months Ended
	Jun. 30, 2020	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019	Nov. 12, 2012
Details
SCS convertible promissory note principal				$ 47,899	$ 100,000
SCS convertible promissory note interest rate		5.50%
SCS convertible promissory note conversion price		$ 0.01
SCS convertible promissory note interest		$ 54,427
130,100 convertible promissory note interest rate		8.00%
130,100 convertible promissory note conversion price		$ 0.01
130,100 convertible promissory note principal balace		$ 130,100
130,100 convertible promissory note accrued interest		63,674		65,861
Conversion of accrued interest for common stock	$ 10,000	$ 10,000	$ 0
Stock issued for accrued interest on convertible note		1,000,000
Note payable		$ 9,384		$ 0

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Commitments and Contingencies (Details) - USD ($)			1 Months Ended			3 Months Ended						9 Months Ended		14 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Sep. 30, 2020	Jun. 30, 2020	Sep. 30, 2018	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Sep. 30, 2020	Sep. 30, 2019	Aug. 31, 2020
Details
monthly office lease payment														$ 1,038
Amortization of right of use asset												$ 9,355	$ 8,064
Operating lease right-of-use of assets	$ 8,396		$ 10,975			$ 10,975						10,975
Operating lease liability	8,396		10,975			10,975						10,975
Operating Leases, Rent Expense, Net												9,343
Capital Leases, Future Minimum Payments Due, Next Twelve Months			3,114			3,114						3,114
Capital Leases, Future Minimum Payments Due in Two Years			$ 8,305			8,305						8,305
WatersideCapitalAdvisersigningshares			50,000
WatersideCapitalAdviser30dayshares			75,000
WatersideCapitalAdviser60dayshares			75,000
WatersideCapitalAdvisersharevalue			$ 200,000
WatersideCapitalAdvisercommonstockpayableamount			50,000
Stock issued for services performed					$ 639,000	$ 87,500	$ 611,150	$ 50,000	$ 50,000	$ 50,000	$ 50,000	798,650	$ 0
WatersideCapitalAdviserremainingbalance			112,500
Waterside compensation monthly payment												5,000
Consulting expense	$ 206,250	$ 432,750	$ 2,500
WatersideCapitalAdviserincentiveshares			2,000,000
Gill shares received in consulting agreement				500,000
Kristensen shares received in consulting agreement				100,000
Gill and Kristensen Consulting shares value total				$ 565,500
Gill and Kristensen Consulting shares amount amortized				153,382
Gill and Kristensen Consulting shares amount remaining				$ 412,118
Hanover compensation monthly payment												$ 3,500
Hanover total compensation shares												750,000
Hanover tranche compensation shares												187,500
Hanover price per share												$ 0.50
Hanover total value												$ 375,000
Hanover Amount Expensed												203,425
Hanoverremainingprepaid												$ 171,575