0001607062-24-000131.txt : 20240424 0001607062-24-000131.hdr.sgml : 20240424 20240424132750 ACCESSION NUMBER: 0001607062-24-000131 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 53 CONFORMED PERIOD OF REPORT: 20240331 FILED AS OF DATE: 20240424 DATE AS OF CHANGE: 20240424 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Regen BioPharma Inc CENTRAL INDEX KEY: 0001589150 STANDARD INDUSTRIAL CLASSIFICATION: PHARMACEUTICAL PREPARATIONS [2834] ORGANIZATION NAME: 03 Life Sciences IRS NUMBER: 455192997 STATE OF INCORPORATION: NV FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: 10-Q SEC ACT: 1934 Act SEC FILE NUMBER: 333-191725 FILM NUMBER: 24869446 BUSINESS ADDRESS: STREET 1: 4700 SPRING ST #304 CITY: LA MESA STATE: CA ZIP: 91942 BUSINESS PHONE: 619-722-5505 MAIL ADDRESS: STREET 1: 4700 SPRING ST #304 CITY: LA MESA STATE: CA ZIP: 91942 10-Q 1 rgbp033124form10q.htm 10-Q
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SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

 QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

 For the quarterly period ended March 31, 2024

  TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

 For the transition period from

 Commission File No. 333-191725

 REGEN BIOPHARMA, INC.

(Exact name of small business issuer as specified in its charter)

 

Nevada 45-5192997
(State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.)

4700 Spring StreetSt 304La MesaCalifornia 91942

(Address of Principal Executive Offices)

619 722-5505

(Issuer’s telephone number)

 

None

(Former name, address and fiscal year, if changed since last report)

 

Check whether the issuer (1) has filed all reports required to be filed by Section 13 or 15(d) of the Exchange Act during the preceding 12 months (or for such shorter period that the issuer was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.

Yes ☒   No 

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted 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 and post such files).

Yes ☐  No ☒

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

☐ Large accelerated filer ☐ Accelerated filer
☒ Non-accelerated filer  Smaller reporting company
   Emerging Growth Company 

APPLICABLE ONLY TO CORPORATE ISSUERS:

As of March 31, 2024 Regen Biopharma, Inc. had 4,114,622 common shares outstanding.

As of March 31, 2024 Regen Biopharma, Inc. had 409,551 shares of Series A Preferred Stock outstanding.

As of March 31, 2024 Regen Biopharma, Inc. had 34 shares of Series AA Preferred Stock outstanding.

As of March 31, 2024 Regen Biopharma, Inc. had 29,338 shares of Series M Preferred Stock outstanding.

As of March 31, 2024 Regen Biopharma, Inc. had 15,007 shares of Series NC Preferred Stock outstanding.

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

Yes ☐ No 

 1 

 

PART I - FINANCIAL INFORMATION

Item 1. - Financial Statements

           
REGEN BIOPHARMA , INC.          
CONDENSED CONSOLIDATED BALANCE SHEETS          
           
    As of 
    March 31, 2024    September 30, 2023 
    (unaudited)      
ASSETS          
CURRENT ASSETS          
Cash  $78,115   $121,037 
Accounts Receivable, Related Party   39,723    0 
Note Receivable, Related Party        0 
Prepaid Expenses   200    0 
Prepaid Rent   5,000    10,000 
 Total Current Assets   123,037    131,037 
Investment Securities, Related Party   17,733    222,580 
Total Other Assets   17,733    222,580 
Total Assets  $140,770   $353,617 
           
LIABILITIES AND STOCKHOLDERS' EQUITY          
Current Liabilities:          
Accounts payable   29,798    29,674 
Notes Payable   49,210    95,710 
Accrued payroll taxes   4,241    4,241 
Accrued Interest   342,416    342,588 
Accrued Payroll   1,256,630    1,256,630 
Other Accrued Expenses   41,423    41,423 
Bank Overdraft   1,000    1,000 
Due to Investor   20,000    20,000 
Unearned Income   1,528,451    1,591,731 
Unearned Income (Related Party)   0    15,126 
Derivative Liability   1,400,000    1,400,000 
Convertible Notes Payable Less unamortized discount   499,880    499,880 
Convertible Notes Payable, Related Parties Less unamortized discount   0    10,000 
Total Current Liabilities   5,173,049    5,308,003 
Long Term Liabilities:          
Convertible Notes Payable, Related Parties Less unamortized discount          
Notes Payable   143,685    149,614 
Total Long Term Liabilities   143,685    149,614 
Total Liabilities   5,316,734    5,457,617 
           
STOCKHOLDERS' EQUITY (DEFICIT)          
Common Stock ($.0001 par value) 500,000,000 shares authorized; 5,800,000,000 authorized and 4,114,622 issued and outstanding as of March 31, 2024 and 3,506,366 shares issued and outstanding as of September 30, 2023.   412    352 
Preferred Stock, 0.0001 par value, 800,000,000 authorized as of March 31, 2024 and September 30, 2023 respectively   40    40 
Series A Preferred; 739,000,000 authorized as of September 30, 2023 and March 31, 2024; 409,551 outstanding as of March 31, 2024 and September 30, 2023   40    40 
Series AA Preferred; $0.0001 par value 600,000 authorized and 34 and 34 outstanding as of March 31, 2024 and September 30,2023 respectively   0    0 
Series M Preferred; $0.0001 par value 60,000,000 authorized and 29,338 outstanding as of September 30, 2023 and 60,000,000 authorized and 29,338 outstanding as of March 31, 2024   3    3 
Series NC Preferred; $0.0001 par value 20,000 authorized and 15,007 outstanding as of September 30, 2023  and March 31, 2024   2    2 
Additional Paid in capital   14,308,349    13,908,141 
Contributed Capital   736,326    736,326 
Retained Earnings (Deficit)   (20,221,096)   (19,748,863)
Total Stockholders' Equity (Deficit)   (5,175,963)   (5,104,000)
TOTAL LIABILITIES & STOCKHOLDERS' EQUITY (DEFICIT)  $140,770   $353,617 

The Accompanying Notes are an Integral Part of These Financial Statements

 

  All stock amounts have been retroactively adjusted to reflect a 1 for 1500 reverse stock split of all issued series of stock effective as of March 6, 2023

 2 

 

             
REGEN BIOPHARMA , INC.            
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS      
(unaudited)            
             
   Quarter Ended March 31, 2024 

Quarter Ended

March 31, 2023

 

Six Months Ended

March 31, 2024

 

Six Months Ended

March 31, 2023

REVENUES                    
Revenues  $31,640   $31,640   $63,280   $63,280 
Revenues, Related Party   27,425    27,425    54,849    54,849 
TOTAL REVENUES   59,065    59,065    118,129    118,129 
                     
COST AND EXPENSES                    
Research and Development   40,133    36,446    87,661    131,959 
General and Administrative   9,387    18,660    21,806    27,398 
Consulting and Professional Fees   93,400    67,800    200,300    471,480 
Rent   17,215    15,000    32,215    30,000 
Total Costs and Expenses   160,135    137,906    341,981    660,837 
OPERATING INCOME (LOSS)  $(101,071)  $(78,842)  $(223,852)  $(542,708)
                     
OTHER INCOME & (EXPENSES)                    
Interest Expense   (17,063)   (12,085)   (34,828)   (29,444)
Interest Expense attributable to Amortization of Discount   (4,339)        (8,706)     
Unrealized Gain ( Loss) on sale of Investment Securities             (204,847)     
Derivative Income (Expense)        35,949         2,151,755 
Gain (Loss) on Extinguishment Convertible Debt                  1,150 
TOTAL OTHER INCOME (EXPENSE)   (21,402)   23,864    (248,380)   2,123,460 
NET INCOME (LOSS)  $(122,473)   (54,978)  $(472,233)  $1,580,752 
NET INCOME (LOSS) attributable to common shareholders  $(122,473)   (54,978)  $(472,233)  $1,391,061 
                     
BASIC AND FULLY DILUTED EARNINGS (LOSS) PER SHARE  $(0.03)  $(0.03)  $(0.12)  $0.41 
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING   3941013    1656429    3831431    3364578 

The Accompanying Notes are an Integral Part of These Financial Statements

All stock amounts have been retroactively adjusted to reflect a 1 for 1500 reverse stock split of all issued series of stock effective as of March 6, 2023

 3 

 

REGEN BIOPHARMA, INC.

CONDENSED CONSOLIDATED STATEMENT OF SHAREHOLDERS' EQUITY (DEFICIT)

(unaudited)

 

                                                         
Six Months Ended March 31, 2024                        
                               
      Series A Preferred  Series AA Preferred  Series NC Preferred  Common  Series M Preferred            
      Shares  Amount  Shares  Amount  Shares  Amount  Shares  Amount  Shares  Amount  Additional Paid-in Capital  Retained Earnings  Contributed Capital  Total
Balance September 30, 2023   409,551   $40    34   $0    15,007   $2    3,506,366   $352    29,338    3   $13,908,141   $(19,748,863)  $736,326 $ (5,104,000 )
10/13/2023  Common Shares issued for Cash                                    16,710    2               22,724               22,726  
10/27/2023  Common Shares issued for Cash                                    35,785    4               46,088               46,091  
11/10/2023  Common Shares issued for Cash                                    31,732    3               38,202               38,205  
11/27/2023  Common Shares issued for Cash                                    33,989    3               32,626               32,629  
12/11/2023  Common Shares issued for Cash                                    43,297    4               38,097               38,101  
12/20/2023  Common Shares issued for Cash                                    82,686    8               34,535               34,543  
Net Income (Loss) Quarter Ended December 31, 2023                                    —                             (349,760)        (349,760 )
Balance December 31, 2023   409,551   $40    34   $0    15,007    2     3,750,565    376    29,338    3    14,120,412    (20,098,623)   736,326 $ (5,241,463 )
1/3/2024  Common Shares issued for Cash                                    94,883    9               39,629               39,638  
1/10/2024  Common Shares issued for Cash                                    82,643    8               44,288               44,297  
2/2/2024  Common Shares issued for Cash                                    40,229    4               19,609               19,614  
2/21/2024  Common Shares issued for Cash                                    52,569    5               32,356               32,362  
3/6/2023  Common Shares issued for Cash                                    44,503    4               25,278               25,282  
3/20/2024  Common Shares issued for Cash                                    49,230    5               26,776               26,781  
Net Income (Loss) Quarter Ended March 31, 2024                                    —                             (122,473)        (122,473 )
Balance March 31, 2024   409,551   $40    34   $0    15,007    2     4,114,622    413    29,338    3    14,308,349    (20,221,096)   736,326 $ (5,175,963 )
                                                                     

Six Months Ended March 31, 2023 

                                       
                                               
       Series A Preferred    Series AA Preferred    Series NC Preferred    Common    Series M Preferred                   
       Shares    Amount    Shares    Amount    Shares    Amount    Shares    Amount    Shares    Amount    Additional Paid-in Capital    Retained Earnings    Contributed Capital   Total
Balance September 30, 2022   293,053   $28    34   $0    7   $     3,354,886   $335    29,338   $3   $12,132,620   $(20,905,369)  $736,326 $ (8,036,059 )
10/25/2022  Preferred Shares Issued for Nonemployee Services   6,667   $1                                                299,999               $300,000  
11/11/2022  Preferred Shares Issued for Debt   70,114   $7                                                761,493               $761,500  
11/11/2022  Preferred Shares Issued for Interest   35,012   $4                                                380,258               $380,262
11/11/2022  Common Shares Issued For Interest                                    11,279   $1               25,368               25,369  
12/5/2022  Preferred Shares Issued for Nonemployee Services   1,112   $0                                                48,372               $48,372  
Net Income for the Quarter ended December 31, 2022                                                                1,635,730         1,635,730  
Balance December 31, 2022   405,958   $40    34   $0    7   $     3,366,165   $337    29,338    3   $13,648,107   $(19,269,640)  $736,326 $ (4,884,827 )
3/13/2023   Common Shares issued pursuant to round up provision                                                                               
   March 6,2023 reverse stock split                                    15,201   $2               (2)              0  
3/13/2023  Preferred Shares issued pursuant to round up provision                                                                               
   March 6,2023 reverse stock split   3,593                                                                           
3/17/2023  Preferred Shares issued for accrued salaries                         15,000    2                          10,048               10,050  
Net Income (Loss) for the Quarter Ended March 31, 2023                                                                (54,978)        (54,978 )
Balance March 31, 2023   409,551   $40    34   $0    15,007   $2    3,381,366   $339    29,338    3   $13,658,153   $(19,324,617)  $736,326 $ (4,929,755 )

 

The Accompanying Notes are an Integral Part of These Financial Statements

 

All stock amounts have been retroactively adjusted to reflect a 1 for 1500 reverse stock split of all issued series of stock effective as of March 6, 2023 

 4 

 

REGEN BIOPHARMA , INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(unaudited)

 

       
   Six Months Ended  Six Months Ended
   March 31,2024  March 31,2023
CASH FLOWS FROM OPERATING ACTIVITIES          
Net Income (loss)  $(472,233)  $1,580,752 
Adjustments to reconcile net Income to net cash          
Preferred Stock issued as compensation        348,372 
Increase (Decrease) in Interest expense attributable to amortization of Discount   8,706      
Increase (Decrease) in Accounts Payable   124    5,248 
(Increase) Decrease in Accounts Receivable   (39,723)   175,150 
Increase (Decrease) in accrued Expenses   (171)   29,444 
(Increase) Decrease in Prepaid Expenses   5,200    13,714 
Increase(Decrease) in Contributed Capital   0      
Increase ( Decrease) in Derivative Expense   0    (2,151,755)
Increase ( Decrease) in Unearned Income   (78,407)   (63,280)
(Gain) Loss on forgiveness of Debt   0    (1,150)
Unrealized Loss (Gain) on Investment Securities   204,847      
Net Cash Provided by (Used in) Operating Activities  $(371,657)  $(63,504)
           
CASH FLOWS FROM FINANCING ACTIVITIES          
Increase (Decrease) in Convertible Notes Payable   (10,000)     
Increase (Decrease) in Notes Payable   (61,500)   100,000 
Increase (Decrease) in Common Stock issued for cash   400,234      
Net Cash Provided by (Used in) Financing Activities   328,734    100,000 
Net Increase (Decrease) in Cash  $(42,923)  $36,949 
           
Cash at Beginning of Period  $121,037   $51,204 
Cash at End of Period  $78,114   $87,700 
           
Supplemental Disclosure of Noncash investing and financing activities:          
Common shares Issued for Debt          
Preferred Shares Issued for Debt       $761,500 
Cash Paid for Interest          
Common shares Issued for Interest       $25,369 
Preferred Shares issued for Interest       $380,262 

 

  The Accompanying Notes are an Integral Part of These Financial Statements

 

All stock amounts have been retroactively adjusted to reflect a 1 for 1500 reverse stock split of all issued series of stock effective as of March 6, 2023

 5 

 

REGEN BIOPHARMA, INC.

Notes to Condensed Consolidated Financial Statements

As of March 31, 2024

 

These Notes have been retroactively adjusted to reflect a 1 for 1500 reverse stock split of all issued series of stock effective as of March 6, 2023

 

NOTE 1. ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

The Company was organized April 24, 2012 under the laws of the State of Nevada 

The Company intends to engage primarily in the development of regenerative medical applications which we intend to license from other entities up to the point of successful completion of Phase I and or Phase II clinical trials after which we would either attempt to sell or license those developed applications or, alternatively, advance the application further to Phase III clinical trials.

The Company is currently engaged in actively identifying small molecules that inhibit or express NR2F6 leading to immune cell activation for oncology applications and immune cell suppression for autoimmune disease.

The Company is in the early stages of development of its proposed products and therapies. The Company will be required to obtain approval from the FDA in order to market any of The Company’s products or therapies. No approval has been granted by the FDA for the marketing and sale of any of the Company’s products and therapies and no assurance may be given that any of the Company’s products or therapies will be granted such approval. The Company’s current plans include the development of regenerative medical applications up to the point of successful completion of Phase I and/ or Phase II clinical trials after which the Company would either attempt to sell or license those developed applications or, alternatively, advance the application further to Phase III clinical trials. The Company can provide no assurance that the Company will be able to sell or license any product or that, if such product is sold or licensed, such sale or license will be on terms favorable to the Company.

A. BASIS OF ACCOUNTING

The financial statements have been prepared using the basis of accounting generally accepted in the United States of America. Under this basis of accounting, revenues are recorded as earned and expenses are recorded at the time liabilities are incurred. The Company has adopted a September 30 year-end.

B. PRINCIPLES OF CONSOLIDATION

The consolidated financial statements include the accounts of KCL Therapeutics, Inc., a Nevada corporation and wholly owned subsidiary of Regen. Significant inter-company transactions have been eliminated.

The Company analyzes the conversion feature of Convertible Notes for derivative accounting consideration under ASC 815-15 “Derivatives and Hedging. ASC 815-15 requires that the conversion features are bifurcated and separately accounted for as an embedded derivative contained in the Company’s convertible debt. The embedded derivative is carried on the balance sheet at fair value. Any unrealized change in fair value, as determined at each measurement period, is recorded as a component of the income statement and the associated carrying amount on the balance sheet is adjusted by the change. The Company values the embedded derivative using the Black-Scholes pricing model.

The Black Scholes pricing model used to determine the Derivative Liability on convertible notes issued by the Company in which an embedded derivative is recognized as of March 31, 2024 utilized the following inputs:

     
Schedule of Derivative liability   
Risk Free Interest Rate   5.39%
Expected Term   (1.70) – (4.08) Yrs 
Expected Volatility   932.98%
Expected Dividends    

 6 

 

H. INCOME TAXES

The Company accounts for income taxes using the liability method prescribed by ASC 740, “Income Taxes.” Under this method, deferred tax assets and liabilities are determined based on the difference between the financial reporting and tax bases of assets and liabilities using enacted tax rates that will be in effect in the year in which the differences are expected to reverse. The Company records a valuation allowance to offset deferred tax assets if based on the weight of available evidence, it is more-likely-than-not that some portion, or all, of the deferred tax assets will not be realized. The effect on deferred taxes of a change in tax rates is recognized as income or loss in the period that includes the enactment date.

The Company applied the provisions of ASC 740-10-50, “Accounting For Uncertainty In Income Taxes”, which provides clarification related to the process associated with accounting for uncertain tax positions recognized in our financial statements. Audit periods remain open for review until the statute of limitations has passed. The completion of review or the expiration of the statute of limitations for a given audit period could result in an adjustment to the Company’s liability for income taxes. Any such adjustment could be material to the Company’s results of operations for any given quarterly or annual period based, in part, upon the results of operations for the given period. As of June 30, 2023 the Company had no uncertain tax positions, and will continue to evaluate for uncertain positions in the future.

The Company generated a deferred tax credit through net operating loss carry forward.  However, a valuation allowance of 100% has been established.

Interest and penalties on tax deficiencies recognized in accordance with ACS accounting standards are classified as income taxes in accordance with ASC Topic 740-10-50-19.

I.  BASIC EARNINGS (LOSS) PER SHARE

The Financial Accounting Standards Board (FASB) issued Accounting Standards Codification (ASC) 260, “Earnings Per Share”, which specifies the computation, presentation and disclosure requirements for earnings (loss) per share for entities with publicly held common stock. ASC 260 requires the presentation of basic earnings (loss) per share and diluted earnings (loss) per share. The Company has adopted the provisions of ASC 260 effective from inception.

Basic net loss per share amounts is computed by dividing the net income by the weighted average number of common shares outstanding.


J. ADVERTISING

Costs associated with advertising are charged to expense as incurred. Advertising expenses were $0 for the quarters ended March 31, 2023 and March 31, 2024.

K. NOTES RECEIVABLE

Notes receivable are stated at cost, less impairment, if any.

 7 

 


L. REVENUE RECOGNITION

Sales of products and related costs of products sold are recognized when: (i) persuasive evidence of an arrangement exists; (ii) delivery has occurred; (iii) the price is fixed or determinable; and (iv) collectability is reasonably assured. These terms are typically met upon the prepayment or invoicing and shipment of products.

The Company determines the amount and timing of royalty revenue based on its contractual agreements with intellectual property licensees. The Company recognizes royalty revenue when earned under the terms of the agreements and when the Company considers realization of payment to be probable. Where royalties are based on a percentage of licensee sales of royalty-bearing products, the Company recognizes royalty revenue by applying this percentage to the Company’s estimate of applicable licensee sales. The Company bases this estimate on an analysis of each licensee’s sales results. Where warranted, revenue from licensees for contractual obligations such as License Initiation Fees are recognized upon satisfaction of all conditions required to be satisfied in order for that revenue to have been earned by the Company.

M. INTEREST RECEIVABLE

Interest receivable is stated at cost, less impairment, if any.

NOTE 2. RECENT ACCOUNTING PRONOUNCEMENTS

In June 2014, the Financial Accounting Standards Board issued Accounting Standards Update No. 2014-10, which eliminated certain financial reporting requirements of companies previously identified as “Development Stage Entities” (Topic 915). The amendments in this ASU simplify accounting guidance by removing all incremental financial reporting requirements for development stage entities. The amendments also reduce data maintenance and, for those entities subject to audit, audit costs by eliminating the requirement for development stage entities to present inception-to-date information in the statements of income, cash flows, and shareholder equity. Early application of each of the amendments is permitted for any annual reporting period or interim period for which the entity’s financial statements have not yet been issued (public business entities) or made available for issuance (other entities). Upon adoption, entities will no longer present or disclose any information required by Topic 915. The Company has adopted this standard.

As of the fiscal year ending September 30, 2019 the Company has adopted Accounting Standards Update 2014-09, Revenue from Contracts with Customers (Topic 606). The guidance in this Update supersedes the revenue recognition requirements in Topic 605, Revenue Recognition, and most industry-specific guidance throughout the Industry Topics of the Codification.

The core principle of the guidance is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. To achieve that core principle, an entity should apply the following steps: Step 1: Identify the contract(s) with a customer. Step 2: Identify the performance obligations in the contract. Step 3: Determine the transaction price. Step 4: Allocate the transaction price to the performance obligations in the contract. Step 5: Recognize revenue when (or as) the entity satisfies a performance obligation.

In June 2014, FASB issued Accounting Standards Update (ASU) No. 2014-12 Compensation — Stock Compensation (Topic 718), Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period. A performance target in a share-based payment that affects vesting and that could be achieved after the requisite service period should be accounted for as a performance condition under Accounting Standards Codification (ASC) 718, Compensation — Stock Compensation. As a result, the target is not reflected in the estimation of the award’s grant date fair value. Compensation cost would be recognized over the required service period, if it is probable that the performance condition will be achieved. The guidance is effective for annual periods beginning after 15 December 2015 and interim periods within those annual periods. Early adoption is permitted. The Company has reviewed the applicable ASU and has not, at the current time, quantified the effects of this pronouncement, however it believes that there will be no material effect on the consolidated financial statements.

 8 

 

In August 2014, FASB issued Accounting Standards Update (ASU) No. 2014-15 Preparation of Financial Statements – Going Concern (Subtopic 205-40), Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern. Under generally accepted accounting principles (GAAP), continuation of a reporting entity as a going concern is presumed as the basis for preparing financial statements unless and until the entity’s liquidation becomes imminent. Preparation of financial statements under this presumption is commonly referred to as the going concern basis of accounting. If and when an entity’s liquidation becomes imminent, financial statements should be prepared under the liquidation basis of accounting in accordance with Subtopic 205-30, Presentation of Financial Statements—Liquidation Basis of Accounting. Even when an entity’s liquidation is not imminent, there may be conditions or events that raise substantial doubt about the entity’s ability to continue as a going concern. In those situations, financial statements should continue to be prepared under the going concern basis of accounting, but the amendments in this Update should be followed to determine whether to disclose information about the relevant conditions and events. The amendments in this Update are effective for the annual period ending after December 15, 2016, and for annual periods and interim periods thereafter. Early application is permitted. The Company will evaluate the going concern considerations in this ASU, however, at the current period, management does not believe that it has met the conditions which would subject these financial statements for additional disclosure.

On January 31, 2013, the FASB issued Accounting Standards Update [ASU] 2013-01, entitled Clarifying the Scope of Disclosures about Offsetting Assets and Liabilities. The guidance in ASU 2013-01 amends the requirements in the FASB Accounting Standards Codification [FASB ASC] Topic 210, entitled Balance Sheet. The ASU 2013-01 amendments to FASB ASC 210 clarify that ordinary trade receivables and receivables in general are not within the scope of ASU 2011-11, entitled Disclosure about Offsetting Assets and Liabilities, where that ASU amended the guidance in FASB ASC 210. As those disclosures now are modified with the ASU 2013-01 amendments, the FASB ASC 210 balance sheet offsetting disclosures now clearly are applicable only where reporting entities are involved with bifurcated embedded derivatives, repurchase agreements, reverse repurchase agreements, and securities borrowing and lending transactions that either are offset using the FASB ASC 210 or 815 requirements, or that are subject to enforceable master netting arrangements or similar agreements. ASU 2013-01 is effective for annual reporting periods beginning on or after January 1, 2013, and interim periods within those annual periods. The adoption of this ASU is not expected to have a material impact on our financial statements.

 On February 28, 2013, the FASB issued Accounting Standards Update [ASU] 2013-04, entitled Obligations Resulting from Joint and Several Liability Arrangements for Which the Total Amount of the Obligation Is Fixed at the Reporting Date. The ASU 2013-04 amendments add to the guidance in FASB Accounting Standards Codification [FASB ASC] Topic 405, entitled Liabilities and require reporting entities to measure obligations resulting from certain joint and several liability arrangements where the total amount of the obligation is fixed as of the reporting date, as the sum of the following:

The amount the reporting entity agreed to pay on the basis of its arrangement among co-obligors.

Any additional amounts the reporting entity expects to pay on behalf of its co-obligors.

While early adoption of the amended guidance is permitted, for public companies, the guidance is required to be implemented in fiscal years, and interim periods within those years, beginning after December 15, 2013. The amendments need to be implemented retrospectively to all prior periods presented for obligations resulting from joint and several liability arrangements that exist at the beginning of the year of adoption. The adoption of ASU 2013-04 is not expected to have a material effect on the Company’s operating results or financial position.

On April 22, 2013, the FASB issued Accounting Standards Update [ASU] 2013-07, entitled Liquidation Basis of Accounting. With ASU 2013-07, the FASB amends the guidance in the FASB Accounting Standards Codification [FASB ASC] Topic 205, entitled Presentation of Financial Statements. The amendments serve to clarify when and how reporting entities should apply the liquidation basis of accounting. The guidance is applicable to all reporting entities, whether they are public or private companies or not-for-profit entities. The guidance also provides principles for the recognition of assets and liabilities and disclosures, as well as related financial statement presentation requirements. The requirements in ASU 2013-07 are effective for annual reporting periods beginning after December 15, 2013, and interim reporting periods within those annual periods. Reporting entities are required to apply the requirements in ASU 2013-07 prospectively from the day that liquidation becomes imminent. Early adoption is permitted. The adoption of ASU 2013-07 is not expected to have a material effect on the Company’s operating results or financial position.

 9 

 

In January 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (ASU) 2016-01, which amends the guidance in U.S. GAAP on the classification and measurement of financial instruments. Changes to the current guidance primarily affect the accounting for equity investments, financial liabilities under the fair value option, and the presentation and disclosure requirements for financial instruments. In addition, the ASU clarifies guidance related to the valuation allowance assessment when recognizing deferred tax assets resulting from unrealized losses on available-for-sale debt securities. The new standard is effective for fiscal years and interim periods beginning after December 15, 2017, and upon adoption, an entity should apply the amendments by means of a cumulative-effect adjustment to the balance sheet at the beginning of the first reporting period in which the guidance is effective. Early adoption is not permitted except for the provision to record fair value changes for financial liabilities under the fair value option resulting from instrument-specific credit risk in other comprehensive income. The Company adopted ASU 2016-01 as of the fiscal year ending September 30, 2019.

In August 2020, FASB issued ASU 2020-06, Accounting for Convertible Instruments and Contracts in an Entity; Own Equity (“ASU 2020-06”), as part of its overall simplification initiative to reduce costs and complexity of applying accounting standards while maintaining or improving the usefulness of the information provided to users of financial statements. Among other changes, the new guidance removes from GAAP separation models for convertible debt that require the convertible debt to be separated into a debt and equity component, unless the conversion feature is required to be bifurcated and accounted for as a derivative or the debt is issued at a substantial premium. As a result, after adopting the guidance, entities will no longer separately present such embedded conversion features in equity, and will instead account for the convertible debt wholly as debt. The new guidance also requires use of the “if-converted” method when calculating the dilutive impact of convertible debt on earnings per share, which is consistent with the Company’s current accounting treatment under the current guidance. The guidance is effective for financial statements issued for fiscal years beginning after December 15, 2021, and interim periods within those fiscal years, with early adoption permitted, but only at the beginning of the fiscal year. The Company has adopted ASU 2020-06 as of the Fiscal Year ending September 30, 2022.

A variety of proposed or otherwise potential accounting standards are currently under study by standard setting organizations and various regulatory agencies. Due to the tentative and preliminary nature of those proposed standards, the Company’s management has not determined whether implementation of such standards would be material to its financial statements.

NOTE 3. GOING CONCERN

The accompanying financial statements have been prepared assuming that the Company will continue as a going concern. The Company generated net losses of $20,221,096  during the period from April 24, 2012 (inception) through March 31, 2024. This condition raises substantial doubt about the Company’s ability to continue as a going concern. The Company’s continuation as a going concern is dependent on its ability to meet its obligations, to obtain additional financing as may be required and ultimately to attain profitability. The financial statements do not include any adjustments that might result from the outcome of this uncertainty.

On September 12, 2023 the Company entered into a common stock purchase agreement (the “Equity Line Agreement”) with Coventry Enterprises LLC (“Coventry”) providing for an equity financing facility (the “Equity Line”). The Equity Line Agreement provides that upon the terms and subject to the conditions in the Equity Line Agreement, Coventry is committed to purchase up to Ten Million Dollars ($10,000,000) of shares of common stock, $0.0001 par value per share (the “Common Stock”), over the 36-month term of the Equity Line Agreement (the “Total Commitment”).

Under the terms of the Equity Line Agreement, Coventry will not be obligated to purchase shares of Common Stock unless and until certain conditions are met, including but not limited to a Registration Statement on Form S-1 (the “Registration Statement”) becoming effective which registers Coventry’s resale of any Common Stock purchased by Coventry under the Equity Line.

From time to time over the 36-month term of the Commitment Period ( as such term is defined in the Equity Line Agreement) the Company, in its sole discretion, may provide Coventry with a draw down notice (each, a “Draw Down Notice”), to purchase a specified number of shares of Common Stock (each, a “Draw Down Amount Requested”), subject to the limitations discussed below. The actual amount of proceeds the Company will receive pursuant to each Draw Down Notice (each, a “Draw Down Amount”) is to be determined by multiplying the Draw Down Amount Requested by the applicable purchase price. The purchase price of each share of Common Stock equals 80% of the lowest trading price of the Common Stock during the ten business days prior to the Draw Down Notice date (the “Pricing Period”).

The maximum number of shares of Common Stock requested to be purchased pursuant to any single Draw Down Notice cannot exceed the lesser of (i) 200% of the Average Daily Traded Value (as such term is defined in the Equity Line Agreement) during the ten business days immediately preceding the Drawdown Notice Date or (ii) $250,000. The Company is prohibited from delivering a Draw Down Notice if the sale of shares of Common Stock pursuant to the Draw Down Notice would cause the Company to issue and sell to Coventry or Coventry to acquire or purchase an aggregate number of shares of Common Stock that would result in Coventry beneficially owning more than 4.99% of the issued and outstanding shares of Common Stock of the Company.

The Company issued Coventry 125,000 shares of its Common Stock in connection with the Equity Line Agreement.

Coventry has agreed that:

(a)for so long as the market price of the Company’s common stock is above $1.25 per share and
(b)the Company is in full compliance with all agreements entered into with Coventry and
(c)and the Company has not issued any common shares at a per share price below $1.50, Coventry will agree to a leak out provision and will not sell more than 10,000 shares of the Commitment shares without permission from the Issuer.

 

In connection with the Equity Line Agreement the Company also entered into a Registration Rights Agreement, dated September 12, 2023 with Coventry (the “Registration Rights Agreement”), pursuant to which the Company agreed to register for resale under the Securities Act of 1933 shares issuable in accordance with the Equity Line Agreement as well as the aforementioned 125,000 common shares issued in connection with the Equity Line Agreement in a Registration Statement to be filed with the Securities and Exchange Commission. Up to 1,126,954 Shares of Common Stock were registered for resale under the Securities Act of 1933 pursuant to the Registration Rights Agreement.

During the quarter ended December 31, 2023 the Company issued 244,199 common shares pursuant to the Equity Line Agreement for aggregate cash consideration of $212,296. During the Quarter ended March 31, 2024 the Company issued 364,057 common shares pursuant to the Equity Line Agreement for aggregate cash consideration of $187,937.

 10 

 

NOTE 4. NOTES PAYABLE

(a) RELATED PARTY

       
    As of March 31, 2024
David Koos   $ 710  
Total:   $ 710  

$710 lent to the Company by David Koos is due and payable at the demand of the holder and bears simple interest at a rate of 15% per annum.

(b) NON RELATED PARTY As of March 31, 2024

       
Bostonia Partners, Inc   $ 100.000  
Total:   $ 100,000  

$48,500 lent to the Company by Bostonia Partners, Inc is due and payable on March 10, 2024 and bears simple interest at a rate of 10% per annum.

Effective September 12, 2023 Coventry Enterprises purchased a 10% unsecured promissory Note (the “Note”) from the Company in the principal amount of $175,000 of which $26,250 was retained by Coventry through an Original Issue Discount.

The Note carries “Guaranteed Interest” on the principal amount at the rate of 10% per annum for the eighteen-month term of the Note for an aggregate Guaranteed Interest $26,250. The Principal Amount and the Guaranteed Interest shall be due and payable in seven equal monthly payments of $28,750 commencing on August 12, 2024 and continuing on the 12th day of each month thereafter until paid in full not later than March 12, 2025(the “Maturity Date”).

Upon an Event of Default (as such term is defined in the Note) the Note shall become convertible, in whole or in part, into shares of Common Stock at the option of the Holder at price per share equivalent to 90% of the lowest per-share trading price for the 20 Trading Days preceding a Conversion Date.

Upon the event that while this Note has been outstanding for four months, the Company consummates another financing transaction or if the Company has an effective Regulation A Offering Statement then the Investor may choose to convert any amount up to the entire balance of the note including guaranteed interest into shares at the same offering price as the aforementioned financing transaction or the Regulation A Offering. The outstanding principal balance of the Note is $160,000 as of March 31, 2024.

NOTE 5. CONVERTIBLE NOTES PAYABLE

On March 8, 2016 (“Issue date”) the Company issued a Convertible Note (“Note”) in the face amount of $100,000 for consideration consisting of $100,000 cash. The Note pays simple interest in the amount of 8% per annum . The maturity of the Note is three years from the issue date.

The Lender shall have the right from time to time to convert all or a part of the outstanding and unpaid principal amount of this Note into fully paid and non- assessable shares of Common Stock, as such Common Stock exists on the Issue Date, or any shares of capital stock or other securities of the Company into which such Common Stock shall hereafter be changed or reclassified pursuant to the following terms and conditions:

(a) For the period beginning on the Issue Date and ending 365 days subsequent to the Issue Date (“Year 1”) a 50% discount to the lowest Trading Price (as defined below) for the Common Stock during the ten (10) Trading Day (as defined below) period ending on the latest complete Trading Day prior to the Conversion Date or $150 per share (whichever is greater).

(b) For the period beginning one day subsequent to the final day of Year One and ending 365 days subsequent to Year One (“Year 2”) a 35% discount to the lowest Trading Price (as defined below) for the Common Stock during the ten (10) Trading Day (as defined below) period ending on the latest complete Trading Day prior to the Conversion Date or $150 per share (whichever is greater).

(c) For the period beginning one day subsequent to the final day of Year 2 and ending 365 days subsequent to Year 2 (“Year 3”) a 25% discount to the lowest Trading Price (as defined below) for the Common Stock during the ten (10) Trading Day (as defined below) period ending on the latest complete Trading Day prior to the Conversion Date or $150 per share (whichever is greater).

(d) “Trading Price” means the closing bid price on the Over-the-Counter Bulletin Board, or applicable trading market (the “OTCQB”) as reported by a reliable reporting service (“Reporting Service”) designated by the Lender (i.e. Bloomberg) or, if the OTCQB is not the principal trading market for such security, the closing bid price of such security on the principal securities exchange or trading market where such security is listed or traded or, if no closing bid price of such security is available in any of the foregoing manners, the average of the closing bid prices of any market makers for such security that are listed in the “pink sheets” by the National Quotation Bureau, Inc. If the Trading Price cannot be calculated for such security on such date in the manner provided above, the Trading Price shall be the fair market value as mutually determined by the Company and the Lender. “Trading Day” shall mean any day on which the Common Stock is tradable for any period on the OTCQB, or on the principal securities exchange or other securities market on which the Common Stock is then being traded. “Trading Volume” shall mean the number of shares traded on such Trading Day as reported by such Reporting Service. The Conversion Price shall be equitably adjusted for stock splits, stock dividends, rights offerings, combinations, recapitalization, reclassifications, extraordinary distributions and similar events by the Company relating to the Lender’s securities.

 11 

 

The Company shall have the right, exercisable on not less than five (5) Trading Days prior written notice to the Lender, to prepay the outstanding Note in part or in full, including outstanding principal and accrued interest.

Upon closing of a Transaction Event the Lender shall receive 0 .10% ( one tenth of one percent)of the consideration actually received by the Company from an unaffiliated third party as a result of the closing of a Transaction Event.

“Transaction Event” shall mean either of:

(a) The sale by the Company of the Company’s proprietary NR2F6 intellectual property to an unaffiliated third party

(b) The granting of a license by the Company to an unaffiliated third party granting that unaffiliated third party the right to develop and/or commercialize the Company’s proprietary NR2F6 intellectual property

As of March 31, 2024 $100,000 of the principal amount of the Note remains outstanding.

On April 6, 2016 (“Issue date”) the Company issued a Convertible Note (“Note”) in the face amount of $50,000 for consideration consisting of $50,000 cash. The Note pays simple interest in the amount of 8% per annum . The maturity of the Note is three years from the issue date.

The Lender shall have the right from time to time to convert all or a part of the outstanding and unpaid principal amount of this Note into fully paid and non- assessable shares of Common Stock, as such Common Stock exists on the Issue Date, or any shares of capital stock or other securities of the Company into which such Common Stock shall hereafter be changed or reclassified pursuant to the following terms and conditions:

(a) For the period beginning on the Issue Date and ending 365 days subsequent to the Issue Date (“Year 1”) a 50% discount to the lowest Trading Price (as defined below) for the Common Stock during the ten (10) Trading Day (as defined below) period ending on the latest complete Trading Day prior to the Conversion Date or$150 per share (whichever is greater).

(b) For the period beginning one day subsequent to the final day of Year One and ending 365 days subsequent to Year One (“Year 2”) a 35% discount to the lowest Trading Price (as defined below) for the Common Stock during the ten (10) Trading Day (as defined below) period ending on the latest complete Trading Day prior to the Conversion Date or $150 per share (whichever is greater).

(c) For the period beginning one day subsequent to the final day of Year 2 and ending 365 days subsequent to Year 2 (“Year 3”) a 25% discount to the lowest Trading Price (as defined below) for the Common Stock during the ten (10) Trading Day (as defined below) period ending on the latest complete Trading Day prior to the Conversion Date or $150 per share (whichever is greater).

(d) “Trading Price” means the closing bid price on the Over-the-Counter Bulletin Board, or applicable trading market (the “OTCQB”) as reported by a reliable reporting service (“Reporting Service”) designated by the Lender (i.e. Bloomberg) or, if the OTCQB is not the principal trading market for such security, the closing bid price of such security on the principal securities exchange or trading market where such security is listed or traded or, if no closing bid price of such security is available in any of the foregoing manners, the average of the closing bid prices of any market makers for such security that are listed in the “pink sheets” by the National Quotation Bureau, Inc. If the Trading Price cannot be calculated for such security on such date in the manner provided above, the Trading Price shall be the fair market value as mutually determined by the Company and the Lender. “Trading Day” shall mean any day on which the Common Stock is tradable for any period on the OTCQB, or on the principal securities exchange or other securities market on which the Common Stock is then being traded. “Trading Volume” shall mean the number of shares traded on such Trading Day as reported by such Reporting Service. The Conversion Price shall be equitably adjusted for stock splits, stock dividends, rights offerings, combinations, recapitalization, reclassifications, extraordinary distributions and similar events by the Company relating to the Lender’s securities.

 12 

 


The Company shall have the right, exercisable on not less than five (5) Trading Days prior written notice to the Lender, to prepay the outstanding Note in part or in full, including outstanding principal and accrued interest.

Upon closing of a Transaction Event the Lender shall receive 0 .10% ( one tenth of one percent) of the consideration actually received by the Company from an unaffiliated third party as a result of the closing of a Transaction Event.

“Transaction Event” shall mean either of:

(a) The sale by the Company of the Company’s proprietary NR2F6 intellectual property to an unaffiliated third party

(b) The granting of a license by the Company to an unaffiliated third party granting that unaffiliated third party the right to develop and/or commercialize the Company’s proprietary NR2F6 intellectual property

As of March 31, 2024 $50,000 of the principal amount of the Note remains outstanding.

On October 31, 2016 (“Issue date”) the Company issued a Convertible Note (“Note”) in the face amount of $50,000 for consideration consisting of $50,000 cash. The Note pays simple interest in the amount of 10% per annum . The maturity of the Note is two years from the issue date.

The Lender shall have the right from time to time to convert all or a part of the outstanding and unpaid principal amount of this Note into fully paid and non- assessable shares of Common Stock and/or Series A Preferred Stock, as such Stock exists on the Issue Date, or any shares of capital stock or other securities of the Company into which such Stock shall hereafter be changed or reclassified at a conversion price of $18.75 per share.

The Company shall have the right, exercisable on not less than ten (10) Trading Days prior written notice to the Lender, to prepay the outstanding Note in part or in full, including outstanding principal and accrued interest.

As of March 31, 2024 $50,000 of the principal amount of the Note remains outstanding


On May 5, 2017 (“Issue date”) the Company issued a Convertible Note (“Note”) in the face amount of $200,000 for consideration consisting of $200,000 cash. The Note pays simple interest in the amount of 10% per annum . The maturity of the Note is May 5, 2020. The Note is convertible into the Common Shares of Regen at a price per share ( “Conversion Price”) equivalent to the lower of (a) a 75% discount to the closing price of the common stock of the Company on the trading day immediately prior to the date a conversion notice is given by the Lender to Regen or (b) $375 per common share as of the date which is the earlier of:

(i) One day subsequent to the execution of an agreement to a transaction whose completion would result in a “Change of Control” of the Company. For purposes of this Note, a Change of Control shall be defined as any transaction or series of transactions, whether by merger, sale of substantially all of the assets, or sale or transfer of more than fifty percent (50%) of the outstanding stock of the relevant entity in which the members of the Board of Directors immediately preceding the closing of the Change of Control transaction no longer constitute a majority of the Board of Directors of the surviving entity following the closing of such transaction.

ii) One day subsequent to the commencement, in compliance with applicable law, of a broad solicitation by a third party to purchase a majority percentage of the Company’s outstanding equity securities for a limited period of time contingent on shareholders of the Company tendering a fixed number of their equity securities (“Tender Offer”).

(iii) That date which is twenty four (24) months subsequent to the date of execution of this Note.

 13 

 

The Company shall have the right, exercisable on not less than ten (10) Trading Days prior written notice to the Lender, to prepay the outstanding Note in part or in full, including outstanding principal and accrued interest.

In the event that that the Company exercises its right to prepay the note, or if the Lender chooses not to convert the remaining amount of the note into Common Shares of the company, the Lender shall receive warrants equal to 10% of the Common shares it would have received had the Lender converted the remaining amount of the Note into Common shares of the Company. The warrants shall have a strike price of $75 per share.

The warrants shall be exercisable:

In the event that the Company exercises its right to Prepay the Note on or prior to the close of business on the three (3) month anniversary of the date that the Note shall have been prepaid by the Company(“Prepayment Date”)

In the event , part of the outstanding and unpaid principal amount of this Note and any Accrued Interest remains outstanding on the Maturity Date of the Note, or prior to the close of business on the three (3) month anniversary of the Maturity Date of the Note

As of March 31, 2024 $200,000 of the principal amount of the Note remains outstanding.

The Company analyzed the conversion feature of the Note for derivative accounting consideration under ASC 815-15 “Derivatives and Hedging” and determined that the embedded conversion feature should be classified as a liability due to their being no explicit limit to the number of shares to be delivered upon settlement of the above conversion features. ASC 815-15 requires that the conversion features are bifurcated and separately accounted for as an embedded derivative contained in the Company’s convertible debt. The embedded derivative is carried on the balance sheet at fair value. Any unrealized change in fair value, as determined at each measurement period, is recorded as a component of the income statement and the associated carrying amount on the balance sheet is adjusted by the change.

The Company values the embedded derivative using the Black-Scholes pricing model and a derivative liability of $800,000 was recognized by the Company as of March 31, 2024.

On December 20, 2017 (“Issue date”) the Company issued a Convertible Note (“Note”) in the face amount of $100,000 for consideration consisting of $100,000 cash. The Note pays simple interest in the amount of 10% per annum. The maturity of the Note is December 20, 2020. The Note may be converted into the Common Shares of Regen at a price per share ( “Conversion Price”) equivalent to the lower of (a) a 75% discount to the closing price of the common stock of the Company on the trading day immediately prior to the date a conversion notice is given by the Lender to Regen or (b) $37.50 per common share as of the date which is the earlier of:

(i) One day subsequent to the execution of an agreement to a transaction whose completion would result in a “Change of Control” of the Company or KCL Therapeutics. For purposes of this Note, a Change of Control shall be defined as any transaction or series of transactions, whether by merger, sale of substantially all of the assets, or sale or transfer of more than fifty percent (50%) of the outstanding stock of the relevant entity in which the members of the Board of Directors immediately preceding the closing of the Change of Control transaction no longer constitute a majority of the Board of Directors of the surviving entity following the closing of such transaction.

(ii) One day subsequent to the commencement, in compliance with applicable law, of a broad solicitation by a third party to purchase a majority percentage of the Company’s outstanding equity securities for a limited period of time contingent on shareholders of the Company tendering a fixed number of their equity securities (“Tender Offer”).

(iv) One day subsequent to a “Transaction Event”)

 14 

 

Transaction Event” shall mean either of:

(a) The sale by the Company or by KCL Therapeutics , Inc. of the Company’s proprietary NR2F6 intellectual property to an unaffiliated third party

(b) The granting of a license by the Company or by KCL Therapeutics , Inc to an unaffiliated third party granting that unaffiliated third party the right to develop and/or commercialize the Company’s proprietary NR2F6 intellectual property

(v) That date which is twenty four (24) months subsequent to the date of execution of this Note.


The Company shall have the right, exercisable on not less than ten (10) Trading Days prior written notice to the Lender, to prepay the outstanding Note in part or in full, including outstanding principal and accrued interest.

In the event that that the Company exercises its right to prepay the note, or if the Lender chooses not to convert the remaining amount of the note into Common Shares of the company, the Lender shall receive warrants equal to 10% of the Common shares it would have received had the Lender converted the remaining amount of the Note into Common shares of the Company. The warrants shall have a strike price of $37.5 per share.

The warrants shall be exercisable:

In the event that the Company exercises its right to Prepay the Note on or prior to the close of business on the three (3) month anniversary of the date that the Note shall have been prepaid by the Company (“Prepayment Date”)

In the event , part of the outstanding and unpaid principal amount of this Note and any Accrued Interest remains outstanding on the Maturity Date of the Note, or prior to the close of business on the three (3) month anniversary of the Maturity Date of the Note

As of March 31, 2024 $100,000 of the principal amount of the Note remains outstanding.

The Company analyzed the conversion feature of the Note for derivative accounting consideration under ASC 815-15 “Derivatives and Hedging” and determined that the embedded conversion feature should be classified as a liability due to their being no explicit limit to the number of shares to be delivered upon settlement of the above conversion features. ASC 815-15 requires that the conversion features are bifurcated and separately accounted for as an embedded derivative contained in the Company’s convertible debt. The embedded derivative is carried on the balance sheet at fair value. Any unrealized change in fair value, as determined at each measurement period, is recorded as a component of the income statement and the associated carrying amount on the balance sheet is adjusted by the change.

The Company values the embedded derivative using the Black-Scholes pricing model and a derivative liability of $400,000 was recognized by the Company as of March 31, 2024.

 15 

 

On October 3, 2017 (“Issue date”) the Company issued a Convertible Note (“Note”) in the face amount of $50,000 for consideration consisting of $50,000 cash. The Note pays simple interest in the amount of 10% per annum. The maturity of the Note is October 3, 2020. The Note may be converted into the Common Shares of Regen at a price per share ( “Conversion Price”) equivalent to the lower of (a) a 75% discount to the closing price of the common stock of the Company on the trading day immediately prior to the date a conversion notice is given by the Lender to Regen or (b) $37.5 per common share as of the date which is the earlier of:

(i) One day subsequent to the execution of an agreement to a transaction whose completion would result in a “Change of Control” of the Company or KCL Therapeutics. For purposes of this Note, a Change of Control shall be defined as any transaction or series of transactions, whether by merger, sale of substantially all of the assets, or sale or transfer of more than fifty percent (50%) of the outstanding stock of the relevant entity in which the members of the Board of Directors immediately preceding the closing of the Change of Control transaction no longer constitute a majority of the Board of Directors of the surviving entity following the closing of such transaction.

(ii) One day subsequent to the commencement, in compliance with applicable law, of a broad solicitation by a third party to purchase a majority percentage of the Company’s outstanding equity securities for a limited period of time contingent on shareholders of the Company tendering a fixed number of their equity securities (“Tender Offer”).

(iv) One day subsequent to a “Transaction Event”)

Transaction Event” shall mean either of:

(a) The sale by the Company or by KCL Therapeutics , Inc. of the Company’s proprietary NR2F6 intellectual property to an unaffiliated third party

(b) The granting of a license by the Company or by KCL Therapeutics , Inc to an unaffiliated third party granting that unaffiliated third party the right to develop and/or commercialize the Company’s proprietary NR2F6 intellectual property

(v) That date which is twenty four (24) months subsequent to the date of execution of this Note.

The Company shall have the right, exercisable on not less than ten (10) Trading Days prior written notice to the Lender, to prepay the outstanding Note in part or in full, including outstanding principal and accrued interest.

In the event that that the Company exercises its right to prepay the note, or if the Lender chooses not to convert the remaining amount of the note into Common Shares of the company, the Lender shall receive warrants equal to 10% of the Common shares it would have received had the Lender converted the remaining amount of the Note into Common shares of the Company. The warrants shall have a strike price of $37.5 per share.

The warrants shall be exercisable:

In the event that the Company exercises its right to Prepay the Note on or prior to the close of business on the three (3) month anniversary of the date that the Note shall have been prepaid by the Company (“Prepayment Date”)

In the event , part of the outstanding and unpaid principal amount of this Note and any Accrued Interest remains outstanding on the Maturity Date of the Note, or prior to the close of business on the three (3) month anniversary of the Maturity Date of the Note

As of March 31, 2024, $50,000 of the principal amount of the Note remains outstanding.

 16 

 

The Company analyzed the conversion feature of the Note for derivative accounting consideration under ASC 815-15 “Derivatives and Hedging” and determined that the embedded conversion feature should be classified as a liability due to their being no explicit limit to the number of shares to be delivered upon settlement of the above conversion features. ASC 815-15 requires that the conversion features are bifurcated and separately accounted for as an embedded derivative contained in the Company’s convertible debt. The embedded derivative is carried on the balance sheet at fair value. Any unrealized change in fair value, as determined at each measurement period, is recorded as a component of the income statement and the associated carrying amount on the balance sheet is adjusted by the change.

The Company values the embedded derivative using the Black-Scholes pricing model and a derivative liability of $200,000 was recognized by the Company as of March 31, 2024.

NOTE 6. RELATED PARTY TRANSACTIONS

On June 23, 2015 the Company entered into an agreement (“Agreement”) with Zander Therapeutics, Inc. ( “Zander”) whereby The Company granted to Zander an exclusive worldwide right and license for the development and commercialization of certain intellectual property controlled by The Company (” License IP”) for non-human veterinary therapeutic use for a term of fifteen years. Zander is under common control with the Company.

Pursuant to the Agreement, Zander shall pay to The Company one-time, non-refundable, upfront payment of one hundred thousand US dollars ($100,000) as a license initiation fee which must be paid within 90 days of June 23, 2015 and an annual non-refundable payment of one hundred thousand US dollars ($100,000) on July 15th, 2016 and each subsequent anniversary of the effective date of the Agreement.

The abovementioned payments may be made, at Zander’s discretion, in cash or newly issued common stock of Zander.

Pursuant to the Agreement, Zander shall pay to The Company royalties equal to four percent (4%) of the Net Sales , as such term is defined in the Agreement, of any Licensed Products, as such term is defined in the Agreement, in a Quarter.

Pursuant to the Agreement, Zander will pay The Company ten percent (10%) of all consideration (in the case of in-kind consideration, at fair market value as monetary consideration) received by Zander from sublicensees ( excluding royalties from sublicensees based on Net Sales of any Licensed Products for which The Company receives payment pursuant to the terms and conditions of the Agreement).

 17 

 

Zander is obligated pay to The Company minimum annual royalties of ten thousand US dollars ($10,000) payable per year on each anniversary of the Effective Date of this Agreement, commencing on the second anniversary of June 23, 2015. This minimum annual royalty is only payable to the extent that royalty payments made during the preceding 12-month period do not exceed ten thousand US dollars ($10,000).

The Agreement may be terminated by The Company:

If Zander has not sold any Licensed Product by ten years of the effective date of the Agreement or Zander has not sold any Licensed Product for any twelve (12) month period after Zander’s first commercial sale of a Licensed Product.

The Agreement may be terminated by Zander with regard to any of the License IP if by five years from the date of execution of the Agreement a patent has not been granted by the United States patent and Trademark Office to The Company with regard to that License IP.

The Agreement may be terminated by Zander with regard to any of the License IP if a patent that has been granted by the United States patent and Trademark Office to The Company with regard to that License IP is terminated.

The Agreement may be terminated by either party in the event of a material breach by the other party.

On December 17, 2018 Regen Biopharma, Inc.(“Licensor”) , KCL Therapeutics, Inc. (“Assignee”) and Zander Therapeutics, Inc. (“Licensee”) entered into a LICENSE ASSIGNMENT AND CONSENT AGREEMENT whereby, with regards to certain intellectual property which was assigned by Regen Biopharma, Inc.(“Assigned Properties”) to its wholly owned subsidiary KCL Therapeutics, Inc., Licensor hereby transfers and assigns to Assignee all rights, duties, and obligations of Licensor under the Agreement with respect to the Assigned Properties , and Assignee agrees to assume such duties and obligations thereunder and be bound to the terms of the Agreement with respect thereto.

On December 16, 2019 Zander Therapeutics, Inc. (“Zander”), KCL Therapeutics, Inc. (“KCL”) and Regen Biopharma, Inc. (“Regen”) entered into an agreement (“Agreement”) whereby:

1) Zander shall return for cancellation 194,285,714 shares of the Series A Preferred stock of Regen (“Conversion Shares”) acquired by Zander through conversion of $340,000 of principal indebtedness of a $350,000 convertible note payable issued by Regen to Zander. Subsequent to this event the principal amount due to Zander by Regen pursuant to the Convertible Note shall be $350,000 which shall be applied pursuant to the Agreement.

2) A $35,000 one time charge due to Zander by Regen (“One Time Charge”) shall be applied pursuant to the Agreement.

3) $75,900 of principal indebtedness due to Regen by Zander and $4,328 of accrued but unpaid interest due by Regen to Zander shall be applied pursuant to the Agreement.

No actions were taken by any of the parties to enforce the terms of the Agreement.

On April 15, 2021 the Agreement was amended as follows so that the material terms and conditions shall be:

a) Zander shall not return the Conversion shares for cancellation and the principal indebtedness of the aforementioned convertible note shall not reflect such return

b) As of December 16, 2019 all principal and accrued interest payable by Regen to Zander on that date resulting from Promissory Notes issued by Regen to Zander shall be credited towards amounts due by Zander pursuant to that agreement, as amended, entered into by and between Zander and Regen on June 23, 2015 (“License Agreement”) whereby Regen granted to Zander an exclusive worldwide right and license for the development and commercialization of certain intellectual property controlled by Regen for non-human veterinary therapeutic use for a term of fifteen years and that License Assignment And Consent agreement entered into by and between Regen, KCL and Zander on December 17, 2018 whereby Regen transferred and assigned to KCL all rights, duties, and obligations of Regen under the License Agreement and KCL agreed to assume such duties and obligations thereunder and be bound to the terms of the License Agreement with respect thereto.

Zander and Regen are under common control.

 18 

 

On September 30, 2018 Regen Biopharma, Inc. (“Regen”) issued a convertible promissory note in the principal amount of $350,000 (“Note”) to Zander Therapeutics, Inc. (“Zander”). Consideration for the Note consisted of $350,000. A onetime interest charge of 10% of the principal amount shall be applied to the principal amount of the Note. The Note is due and payable 24 months from the effective date.

Zander has the right, at any time after the September 30, 2018, at its election, to convert all or part of the outstanding and unpaid Principal Sum and accrued interest (and any other fees) into shares of fully paid and non-assessable shares of Series A Preferred stock of Regen as per this conversion formula: Number of shares receivable upon conversion equals the dollar conversion amount divided by the Conversion Price. The Conversion Price is the greater of $0.0001 or 60% of the lowest trade price in the 25 trading days previous to the conversion. Zander, at any time prior to selling all of the shares from a conversion, may, for any reason, rescind any portion, in whole or in part, of that particular conversion attributable to the unsold shares and have the rescinded conversion amount returned to the Principal Sum with the rescinded conversion shares returned to Regen.

As of March 31, 2024, $0 of the principal amount of the Note remains outstanding and all accrued interest has been paid.

On October 8,2021 the Company entered into an agreement with Dr. Brian Koos, MD PhD whereby Dr. Brian Koos would provide services to the Company consisting of :

a) Reviewing existing publications on research being conducted on Checkpoint NR2F6.

b) Identifying the most promising applications for the Company’s technology

c) Drafting a “white paper” on results for 1(b)

d) Making introductions to known experts in appropriate fields identified in 1(b).

Dr. Brian Koos is to be paid compensated $117,000 as total consideration for performing the abovementioned tasks. During the quarter ended December 31, 2021 Dr. Brian Koos was paid the amount of $80,275 and during the quarter ended June 30, 2022 Dr. Brian Koos was paid $36,975. Dr. Brian Koos is the brother of David Koos the Chairman and Chief Executive Officer of the Company.

As of March 31, 2024 the Company is indebted to David R. Koos the Company’s sole officer and director in the amount of $710. $710 lent to the Company by Koos is due and payable at the demand of the holder and bear simple interest at a rate of 15% per annum.

On January 13, 2022 Regen Biopharma, Inc. entered into a sublease agreement with BST Partners (“BST”) whereby Regen Biopharma, Inc. would sublet office space located at 4700 Spring Street, Suite 304, La Mesa, California 91942 from BST on a month to month basis for $5,000 per month beginning January 14, 2022.

BST Partners is controlled by David Koos who serves as the sole officer and director of Regen Biopharma, Inc.

 19 

 

NOTE 7. STOCKHOLDERS’ EQUITY

The stockholders’ equity section of the Company contains the following classes of capital stock as of March 31, 2024:

Common stock, $ 0.0001 par value; 5,800,000,000 shares authorized: 4,114,622 shares issued and outstanding.

With respect to each matter submitted to a vote of stockholders of the Corporation, each holder of Common Stock shall be entitled to cast that number of votes which is equivalent to the number of shares of Common Stock owned by such holder times one (1).

On any voluntary or involuntary liquidation, dissolution or winding up of the Corporation, the holders of the Common Stock shall receive, out of assets legally available for distribution to the Company’s stockholders, a ratable share in the assets of the Corporation.

Preferred Stock, $0.0001 par value, 800,000,000 shares authorized of which 600,000 is designated as Series AA Preferred Stock: 34 shares issued and outstanding as of March 31, 2024, 739,000,000 is designated Series A Preferred Stock of which 409,551 shares are outstanding as of March 31, 2024, 60,000,000 is designated Series M Preferred Stock of which 29,338 shares are outstanding as of March 31, 2024, and 20,000 is designated Series NC stock of which 15,007 shares are outstanding as of March 31, 2024.

The abovementioned shares authorized pursuant to the Company’s certificate of incorporation may be issued from time to time without prior approval of the shareholders. The Board of Directors of the Company shall have the full authority permitted by law to establish one or more series and the number of shares constituting each such series and to fix by resolution full or limited, multiple or fractional, or no voting rights, and such designations, preferences, qualifications, restrictions, options, conversion rights and other special or relative rights of any series of the Stock that may be desired.


Series AA Preferred Stock

On September 15, 2014 the Company filed a CERTIFICATE OF DESIGNATION (“Certificate of Designations”) with the Nevada Secretary of State setting forth the preferences rights and limitations of a newly authorized series of preferred stock designated and known as “Series AA Preferred Stock” (hereinafter referred to as “Series AA Preferred Stock”).

The Board of Directors of the Company have authorized 600,000 shares of the Series AA Preferred Stock, par value $0.0001. With respect to each matter submitted to a vote of stockholders of the Corporation, each holder of Series AA Preferred Stock shall be entitled to cast that number of votes which is equivalent to the number of shares of Series AA Preferred Stock owned by such holder times seven (7). Except as otherwise required by law holders of Common Stock, other series of Preferred issued by the Corporation, and Series AA Preferred Stock shall vote as a single class on all matters submitted to the stockholders.

 20 

 

Series A Preferred Stock

On January 15, 2015 the Company filed a CERTIFICATE OF DESIGNATION (“Certificate of Designations”) with the Nevada Secretary of State setting forth the preferences rights and limitations of a newly authorized series of preferred stock designated and known as “Series A Preferred Stock” (hereinafter referred to as “Series A Preferred Stock”).

The Board of Directors of the Company have authorized 739,000,000 shares of the Series A Preferred Stock, par value $0.0001. With respect to each matter submitted to a vote of stockholders of the Corporation, each holder of Series A Preferred Stock shall be entitled to cast that number of votes which is equivalent to the number of shares of Series A Preferred Stock owned by such holder times one . Except as otherwise required by law holders of Common Stock, other series of Preferred issued by the Corporation, and Series A Preferred Stock shall vote as a single class on all matters submitted to the stockholders.

Holders of the Series A Preferred Stock will be entitled to receive, when, as and if declared by the board of directors of the Company (the “Board”) out of funds legally available therefore, non-cumulative cash dividends of $0.01 per quarter. In the event any dividends are declared or paid or any other distribution is made on or with respect to the Common Stock , the holders of Series A Preferred Stock as of the record date established by the Board for such dividend or distribution on the Common Stock shall be entitled to receive, as additional dividends (the “Additional Dividends”) an amount (whether in the form of cash, securities or other property) equal to the amount (and in the form) of the dividends or distribution that such holder would have received had each share of the Series A Preferred Stock been one share of the Common Stock, such Additional Dividends to be payable on the same payment date as the payment date for the Common Stock.

Upon any liquidation, dissolution, or winding up of the Company, whether voluntary or involuntary (collectively, a “Liquidation”), before any distribution or payment shall be made to any of the holders of Common Stock or any other series of preferred stock, the holders of Series A Preferred Stock shall be entitled to receive out of the assets of the Company, whether such assets are capital, surplus or earnings, an amount equal to $0.01 per share of Series A Preferred (the “Liquidation Amount”) plus all declared and unpaid dividends thereon, for each share of Series A Preferred held by them.

If, upon any Liquidation, the assets of the Company shall be insufficient to pay the Liquidation Amount, together with declared and unpaid dividends thereon, in full to all holders of Series A Preferred, then the entire net assets of the Company shall be distributed among the holders of the Series A Preferred, ratably in proportion to the full amounts to which they would otherwise be respectively entitled and such distributions may be made in cash or in property taken at its fair value (as determined in good faith by the Board), or both, at the election of the Board. 

On January 10, 2017 Regen Biopharma, Inc. (“Regen”) filed a CERTIFICATE OF DESIGNATION (“Certificate of Designations”) with the Nevada Secretary of State setting forth the preferences rights and limitations of a newly authorized series of preferred stock designated and known as “Series M Preferred Stock” (hereinafter referred to as “Series M Preferred Stock”).


The Board of Directors of Regen have authorized 60,000,000 shares of the Series M Preferred Stock, par value $0.0001. With respect to each matter submitted to a vote of stockholders of Regen, each holder of Series M Preferred Stock shall be entitled to cast that number of votes which is equivalent to the number of shares of Series M Preferred Stock owned by such holder times one. Except as otherwise required by law holders of Common Stock, other series of Preferred issued by Regen, and Series M Preferred Stock shall vote as a single class on all matters submitted to the stockholders.

The holders of Series M Preferred Stock shall be entitled receive dividends, when, as and if declared by the Board of Directors in accordance with Nevada Law, in its discretion, from funds legally available therefore

On any voluntary or involuntary liquidation, dissolution or winding up of Regen, the holders of the Series M Preferred Stock shall receive, out of assets legally available for distribution to Regen’s stockholders, a ratable share in the assets of Regen.

 21 

 

On March 26, 2021 Regen Biopharma, Inc. ( “Regen”) filed a CERTIFICATE OF DESIGNATION (“Certificate of Designations”) with the Nevada Secretary of State setting forth the preferences rights and limitations of a newly authorized series of preferred stock designated and known as Nonconvertible Series NC Preferred Stock (hereinafter referred to as “Series NC Preferred Stock”).

The Board of Directors of Regen have authorized 20,000 shares of the Series NC Preferred Stock, par value $0.0001. With respect to each matter submitted to a vote of stockholders of Regen, each holder of Series NC Preferred Stock shall be entitled to cast that number of votes which is equivalent to the number of shares of Series NC Preferred Stock owned by such holder times 334. Except as otherwise required by law holders of Common Stock, other series of Preferred issued by Regen, and Series NC Preferred Stock shall vote as a single class on all matters submitted to the stockholders.

The holders of Series NC Preferred Stock shall be entitled receive dividends, when, as and if declared by the Board of Directors in accordance with Nevada Law, in its discretion, from funds legally available therefore

On any voluntary or involuntary liquidation, dissolution or winding up of Regen, the holders of the Series NC Preferred Stock shall receive, out of assets legally available for distribution to Regen’s stockholders, a ratable share in the assets of Regen. 

NOTE 8. INVESTMENT SECURITIES, RELATED PARTY

On June 11, 2018 Regen Biopharma, Inc. was paid a property dividend consisting of 470,588 of the common shares of Zander Therapeutics, Inc.

On November 29, 2018 the Company accepted 725,000 shares of the Series M Preferred stock of Zander Therapeutics, Inc. in satisfaction of prepaid rent and accrued interest owed to the Company collectively amounting to $13,124.

On March 31, 2024 the Company revalued 470,588 of the common shares of Zander Therapeutics, Inc. and 725,000 shares of the Series M Preferred stock of Zander Therapeutics, Inc. based on the following inputs:

     
Fair Value of Intellectual Property  $300,000 
Prepaid Expenses   65,661 
Due from Employee   0 
Note Receivable   40,000 
Accrued Interest Receivable   35,000 
Investment Securities   258,255 
Convertible Note Receivable   10,000 
Accounts Payable   30,563 
Notes Payable   400,000 
Accrued Expenses Related Parties   162,011 
Notes Payable Related Party   0 
Accrued Expenses   647,072 
Enterprise Value   1,948,562 
Less: Total Debt   (1,239,646)
Portion of Enterprise Value Attributable to Shareholders   708,916 
Fair Value Per Share  $0.0155 

The abovementioned constitute the Company’s sole related party investment securities as of March 31, 2024.

 22 

 

As of March 31, 2024:

                           
470,588 Common Shares of Zander Therapeutics, Inc.
             
  Basis       Fair Value      

Total Unrealized Gains

      Net Unrealized Gain or (Loss) realized during the quarter ended March 31, 2024  
$ 5,741     $ 6,496     $ 755     $ (0 )

 

725,000 Series M Preferred of Zander Therapeutics, Inc.
             
  Basis       Fair Value       Total Unrealized Loss       Net Unrealized Gain or (Loss) realized during the quarter  ended March 31, 2024  
$ 13,124     $ 11,238     $ (1,866 )    $ (0 ) 

NOTE 9. STOCK TRANSACTIONS

On January 3, 2024 the Company issued 94,883 common shares for cash consideration of $39,638.

On January 10, 2024 the Company issued 82,643 common shares for cash consideration of $44,297.

On February 2, 2024 the Company issued 40,229 common shares for cash consideration of $19,614.

On February 21, 2024 the Company issued 52,569 common shares for cash consideration of $32,362.

On March 6, 2024 the Company issued 44,503 common shares for cash consideration of $25,282.

On March 20, 2024 the Company issued 49,230 common shares for cash consideration of $26,781.

NOTE 10. SUBSEQUENT EVENTS

On April 3, 2024 the Company issued 52,763 common shares for cash consideration of $25,326.

 

 23 

 

Item 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS.

CERTAIN FORWARD-LOOKING INFORMATION

Information provided in this Quarterly report on Form 10Q may contain forward-looking statements within the meaning of Section 21E or Securities Exchange Act of 1934 that are not historical facts and information. These statements represent the Company’s expectations or beliefs, including, but not limited to, statements concerning future and operating results, statements concerning industry performance, the Company’s operations, economic performance, financial conditions, margins and growth in sales of the Company’s products, capital expenditures, financing needs, as well assumptions related to the forgoing. For this purpose, any statements contained in this Quarterly Report that are not statement of historical fact may be deemed to be forward-looking statements. These forward-looking statements are based on current expectations and involve various risks and uncertainties that could cause actual results and outcomes for future periods to differ materially from any forward-looking statement or views expressed herein. The Company’s financial performance and the forward-looking statements contained herein are further qualified by other risks including those set forth from time to time in the documents filed by the Company with the Securities and Exchange Commission. All references to” We”, “Us”, “Company” or the “Company” refer to Regen BioPharma, Inc.

As of March 31, 2024 we had cash of $78,115 and as of September 30, 2023 we had cash of $121,037. The decrease in cash of approximately 35% is primarily attributable to cash expended in the aperation of the Company’s business as well as payments of principal amounts due on Notes Payable , Convertible Notes Payable ( Related Party) and accrued interest due on Convertible Notes Payable ( Related Party) offset by $400,000 paid to the Company from sales of common stock of the Company for cash.

As of March 31, 2024 we had Accounts Receivable, Related Party of $39,723 and as of September 30, 2023 we had Accounts Receivable, Related Party of $0. Accounts Receivable, Related Party as of March 31, 2024 consists of fees accrued but not yet paid pursuant to a license granted to Zander Therapeutics, Inc. by Regen Biopharma, Inc. Zander Therapeutics, Inc. and the Company are under common control.

As of March 31, 2024 we had Prepaid Expenses of $200 and as of September 30, 2023 we had Prepaid Expenses of $0. Prepaid Expenses of $200 as of March 31, 2024 is attributable to an overpayment of $200 paid to a patent attorney.

As of March 31, 2024 we had Prepaid Rent of $5,000 and as of September 30, 2023 we had Prepaid Rent of $10,000. The decrease in Prepaid Rent of 50% is attributable to the cash payment by the Company of $10,000 out of $15,000 rent expenses incurred during the quarter ended December 31, 2023.

As of March 31, 2024 we had Investment Securities (Related Party) of $17,733 and as of September 30, 2023 we had Investment Securities (Related Party) of $222,580. During the six months ended March 31, 2024 the Company revalued its owned shares of Zander Therapeutics, Inc. resulting in the recognition of a decrease in fair value of 92.3% as compared to September 30, 2023.

As of March 31, 2024 we had Current Notes Payable of $49,210 and as of September 30, 2023 we had Current Notes Payable of $95,710. The reduction in Current Notes Payable of approximately 48.6% is attributable to repayment of $46,500 of outstanding principal indebtedness during the quarter ended December 31, 2023.

As of March 31, 2024 we had Convertible Notes Payable, Related Parties of $0 and as of March 31, 2024 we had Convertible Notes Payable, Related Parties of $10,000. $10,000 due and payable to Zander Therapeutics, Inc. was paid during the quarter ended March 31, 2024. Zander Therapeutics, Inc. and the Company are under common control.

On March 31, 2024 we had Unearned Income, Related Party of $0 and as of September 30, 2023 we had Unearned Income, Related Party of $15,126. Unearned Income (Related Party) as of September 30, 2023 consisted solely of licensing fees paid to the Company by Zander Therapeutics, Inc. but not yet earned. These fees were earned during the quarter ended December 31, 2023. Zander Therapeutics, Inc. and the Company are under common control.

Revenues from continuing operations were $59,065 for the quarter ended March 31, 2024 and $59,065 for the same period ended 2023. $27,425 of revenue from related parties recognized during the three months ended March 31, 2024 and March 31, 2023 consisted of anniversary expense receivable pursuant to a license granted by the Company to Zander Therapeutics, Inc. and minimum royalties recognized during the three months ended March 31, 2023 and 2024 respectively pursuant to the same license. $31,640 of revenue recognized during the three months ended March 31, 2024 were recognized pursuant to licenses granted to Oncology Pharma,Inc. and $31,640 of revenue was recognized during the quarter ended March 31 , 2023 pursuant to those same licenses.

The Company recognized an Operating Loss of $101,071 during the quarter ended March 31, 2024 whereas the Company recognized an Operating Loss of $78,842 for the same period ended 2023. The disparity in Operating Losses is primarily attributable to greater Research and Development and Consulting Expenses recognized during the quarter ended March 31, 2024 as compared to the same quarter ended 2023. The Company recognized a Net Loss of $ 122,473 during the quarter ended March 31, 2024 whereas the Company recognized a Net Loss of $54,978 during the quarter ended March 31, 2023. The disparity in Net Losses is primarily attributable to the recognition of $35,949 in Derivative Income recognized during the quarter ended March 31, 2023.

 22 

 

Revenues from continuing operations were $118,129 for the six months ended March 31, 2024 and $118,129 for the same period ended 2023. $54,849 of revenue from related parties recognized during the six months ended March 31, 2024 and March 31, 2023 consisted of anniversary expense receivable pursuant to a license granted by the Company to Zander Therapeutics, Inc. and minimum royalties recognized during the six months ended March 31, 2023 and 2024 respectively pursuant to the same license. $63,280 of revenue recognized during the six months ended March 31, 2024 were recognized pursuant to licenses granted to Oncology Pharma,Inc. and $63,280 of revenue was recognized during the six months ended March 31 , 2023 pursuant to those same licenses.

The Company recognized an Operating Loss of $ 223,852 during the six ended March 31, 2024 whereas the Company recognized an Operating Loss of $542,708 for the same period ended 2023. The disparity in Operating Losses is primarily attributable to greater Research and Development and Consulting Expenses recognized during the six months ended March 31, 2023 as compared to the same quarter ended 2024. The Company recognized a Net Loss of $ 248,380 during the six months ended March 31, 2024. The Company recognized Net Income of $2,123,460 during the six months ended march 31, 2023 primarily attributable to the recognition of $2,151,755 during the six months ended March 31, 2024.

As of March 31, 2024 we had $78,115 in cash on hand and current liabilities of $5,173,049 such liabilities materially consisting of Accounts Payable, Notes Payable, Convertible Notes Payable, Derivative Liability Recognized, Unearned Income and Accrued Expenses. We feel we will not be able to satisfy our cash requirements over the next twelve months and shall be required to seek additional financing.

On September 12, 2023 the Company entered into a common stock purchase agreement (the “Equity Line Agreement”) with Coventry Enterprises LLC ( “Coventry”) providing for an equity financing facility (the “Equity Line”). The Equity Line Agreement provides that upon the terms and subject to the conditions in the Equity Line Agreement, Coventry is committed to purchase up to Ten Million Dollars ($10,000,000) of shares of common stock, $0.0001 par value per share (the “Common Stock”), over the 36-month term of the Equity Line Agreement (the “Total Commitment”).

Under the terms of the Equity Line Agreement, Coventry will not be obligated to purchase shares of Common Stock unless and until certain conditions are met, including but not limited to a Registration Statement on Form S-1 (the “Registration Statement”) becoming effective which registers Coventry’s resale of any Common Stock purchased by Coventry under the Equity Line.

From time to time over the 36-month term of the Commitment Period ( as such term is defined in the Equity Line Agreement) the Company, in its sole discretion, may provide Coventry with a draw down notice (each, a “Draw Down Notice”), to purchase a specified number of shares of Common Stock (each, a “Draw Down Amount Requested”), subject to the limitations discussed below. The actual amount of proceeds the Company will receive pursuant to each Draw Down Notice (each, a “Draw Down Amount”) is to be determined by multiplying the Draw Down Amount Requested by the applicable purchase price. The purchase price of each share of Common Stock equals 80% of the lowest trading price of the Common Stock during the ten business days prior to the Draw Down Notice date (the “Pricing Period”).

 23 

 

The maximum number of shares of Common Stock requested to be purchased pursuant to any single Draw Down Notice cannot exceed the lesser of (i) 200% of the Average Daily Traded Value ( as such term is defined in the Equity Line Agreement) during the ten business days immediately preceding the Drawdown Notice Date or (ii) $250,000. The Company is prohibited from delivering a Draw Down Notice if the sale of shares of Common Stock pursuant to the Draw Down Notice would cause the Company to issue and sell to Coventry or Coventry to acquire or purchase an aggregate number of shares of Common Stock that would result in Coventry beneficially owning more than 4.99% of the issued and outstanding shares of Common Stock of the Company.

During the quarter ended December 31, 2023 the Company sold 244,199 common shares to Coventry pursuant to the terms and conditions of the Equity Line Agreement for total cash consideration of $212,297.

During the quarter ended March 31, 2024 the Company sold 364,057 common shares to Coventry pursuant to the terms and conditions of the Equity Line Agreement for total cash consideration of $187,973.

On April 3, 2024 the Company sold 52,763 common shares to Coventry pursuant to the terms and conditions of the Equity Line Agreement for total cash consideration of $25,326.

As of March 31 2024 the Company was not party to any binding agreements which would commit Regen to any material capital expenditures.

Item 3. Quantitative and Qualitative Disclosures About Market Risk

As a smaller reporting company, as defined by Rule 229.10(f) (1) of Regulation S-K, we are not required to provide the information required by this Item. We have chosen to disclose, however, that we have not engaged in any transactions, issued or bought any financial instruments or entered into any contracts that are required to be disclosed in response to this item.

Item 4. Controls and Procedures.

Evaluation of Disclosure Controls and Procedures

As of the end of the period covered by this report, the Company carried out an evaluation, under the supervision and with the participation of David Koos, who is the Company’s Principal Executive Officer and Principal Financial Officer of the effectiveness of the design and operation of the Company’s disclosure controls and procedures. The Company’s disclosure controls and procedures are designed to provide a reasonable level of assurance of achieving the Company’s disclosure control objectives. The Company’s Principal Executive Officer and Principal Financial Officer have concluded that the Company’s disclosure controls and procedures are, in fact, effective at this reasonable assurance level as of the period covered.

Changes in Internal Controls over Financial Reporting

In connection with the evaluation of the Company’s internal controls during the period commencing on January 1, 2024 and ending on March 31, 2024, David Koos, who serves as the Company’s Principal Executive Officer , Principal Financial Officer has determined that there were no changes to the Company’s internal controls over financial reporting that have been materially affected, or is reasonably likely to materially effect, the Company’s internal controls over financial reporting.

 24 

 

PART II - OTHER INFORMATION

Item 1. Legal Proceedings.

None

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

There were no unregistered sales of equity securities during the quarter ended March 31, 2024.

Item 3. Defaults Upon Senior Securities

None.

Item 4. Submission Of Matters To A Vote Of Security Holders

None.

Item 5. Other Information

None.

Item 6. Exhibit Index

Exhibit No. Description
31.1 CERTIFICATION OF CHIEF EXECUTIVE OFFICER PURSUANT TO SECTION 302 OF THE SARBANESE-OXLEY ACT OF 2002
31.2 CERTIFICATION OF CHIEF FINANCIAL OFFICER PURSUANT TO SECTION 302 OF THE SARBANESE-OXLEY ACT OF 2002
32.1 CERTIFICATION OF CHIEF EXECUTIVE OFFICER PURSUANT TO 18 U.S.C SECTION 1350 AS ADOPTED PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002
32.2 CERTIFICATION OF CHIEF FINANCIAL OFFICER PURSUANT TO 18 U.S.C SECTION 1350 AS ADOPTED PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

 

 25 

 

SIGNATURES

Pursuant to the requirements of Section 13 or 15(d) 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.

 

Regen Biopharma, Inc.

 

By: /s/ David R. Koos

Name: David R. Koos

Title: Chairman, Chief Executive Officer

Date: April 24, 2024

 

Pursuant to the requirements of Section 13 or 15(d) 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.

 

Regen Biopharma, Inc.

 

By: /s/ David R. Koos

Name: David R. Koos

Title: Acting Chief Financial Officer, Director

Date: April 24, 2024

 

 26 

 

EX-31.1 2 ex31_1.htm EXHIBIT 31.1

CERTIFICATION OF CHIEF FINANCIAL OFFICER PURSUANT TO

SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

 

I, David R. Koos certify that:

1. I have reviewed this quarterly report on Form 10-Q for the period ended March 31, 2024 of Regen Biopharma, 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 controls 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’s, 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 registrant’s board of directors (or persons performing the equivalent function):

(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: April 24, 2024   By: /s/ David R. Koos
      David R. Koos
      Chief Exeuctive Officer

 

EX-31.2 3 ex31_2.htm EXHIBIT 31.2

CERTIFICATION OF CHIEF FINANCIAL OFFICER PURSUANT TO

SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

 

I, David R. Koos certify that:

1. I have reviewed this quarterly report on Form 10-Q for the period ended March 31, 2024 of Regen Biopharma, 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 controls 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’s, 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 registrant’s board of directors (or persons performing the equivalent function):

(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: April 24, 2024   By: /s/ David R. Koos
      David R. Koos
      Chief Financial Officer

 

EX-32.1 4 ex32_1.htm EXHIBIT 32.1

CERTIFICATION OF CHIEF EXECUTIVE OFFICER

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 Regen Biopharma, Inc. on Form 10-Q for the period ended March 31, 2024 as filed with the Securities and Exchange Commission on the date hereof (the “Report”), I, David R. Koos, Chief 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, to the best of my knowledge and belief:

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

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

 

 Dated: April 24, 2024   By: /s/ David R. Koos
      David R. Koos
      Chief Executive Officer

 

 

EX-32.2 5 ex32_2.htm EXHIBIT 32.2

CERTIFICATION OF CHIEF FINANCIAL OFFICER

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 Regen Biopharma, Inc. on Form 10-Q for the period ended March 31, 2024 as filed with the Securities and Exchange Commission on the date hereof (the “Report”), I, David R. Koos, Chief 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, to the best of my knowledge and belief:

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

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

 

 Dated: April 24, 2024   By: /s/ David R. Koos
      David R. Koos
      Chief Financial Officer

 

 

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Preferred Stock, 0.0001 par value, 800,000,000 authorized as of March 31, 2024 and September 30, 2023 respectively Additional Paid in capital Contributed Capital Retained Earnings (Deficit) Total Stockholders' Equity (Deficit) TOTAL LIABILITIES & STOCKHOLDERS' EQUITY (DEFICIT) Statement [Table] Statement [Line Items] Common Stock, Par or Stated Value Per Share Common Stock, Shares Authorized Common Stock, Shares, Outstanding Preferred Stock, Par or Stated Value Per Share Preferred Stock, Shares Authorized Preferred Stock, Shares Outstanding Income Statement [Abstract] REVENUES Revenues Revenues, Related Party TOTAL REVENUES COST AND EXPENSES Research and Development General and Administrative Consulting and Professional Fees Rent Total Costs and Expenses OPERATING INCOME (LOSS) OTHER INCOME & (EXPENSES) Interest Expense Interest Expense attributable to Amortization of Discount Unrealized Gain ( Loss) on sale of Investment Securities Derivative Income (Expense) Gain (Loss) 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Provided by (Used in) Operating Activities CASH FLOWS FROM FINANCING ACTIVITIES Increase (Decrease) in Convertible Notes Payable Increase (Decrease) in Notes Payable Increase (Decrease) in Common Stock issued for cash Net Cash Provided by (Used in) Financing Activities Net Increase (Decrease) in Cash Cash at Beginning of Period Cash at End of Period Supplemental Disclosure of Noncash investing and financing activities: Common shares Issued for Debt Preferred Shares Issued for Debt Cash Paid for Interest Common shares Issued for Interest Preferred Shares issued for Interest Accounting Policies [Abstract] ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Accounting Changes and Error Corrections [Abstract] RECENT ACCOUNTING PRONOUNCEMENTS Organization, Consolidation and Presentation of Financial Statements [Abstract] GOING CONCERN Debt Disclosure [Abstract] NOTES PAYABLE Convertible Notes Payable CONVERTIBLE NOTES PAYABLE Related Party Transactions [Abstract] RELATED PARTY TRANSACTIONS Equity [Abstract] STOCKHOLDERS’ EQUITY Investment Securities Related Party INVESTMENT SECURITIES, RELATED PARTY Stock Transactions STOCK TRANSACTIONS Subsequent Events [Abstract] SUBSEQUENT EVENTS BASIS OF ACCOUNTING PRINCIPLES OF CONSOLIDATION INCOME TAXES BASIC EARNINGS (LOSS) PER SHARE ADVERTISING NOTES RECEIVABLE REVENUE RECOGNITION INTEREST RECEIVABLE Schedule of Derivative liability Notes payable related party Schedule of non related party Dividend income Comprehensive income Property, Plant and Equipment [Table] Property, Plant and Equipment [Line Items] Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Risk Free Interest Rate Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Term Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Volatility Rate Effective Income Tax Rate Reconciliation, Change in Deferred Tax Assets Valuation 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Value Common Stock, Shares, Issued Common Stock, Value, Issued SeriesMPreferredStockMember Assets, Current Other Assets Assets Liabilities, Current ConvertibleNotesPayableRelatedPartiesLessUnamortizedDiscountNoncurrent Liabilities, Noncurrent Liabilities Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest Liabilities and Equity TotalRevenues Costs and Expenses Operating Income (Loss) Interest Expense Other Noncash Income (Expense) Net Income (Loss) Available to Common Stockholders, Basic Stockholders' Equity Attributable to Parent PreferredSharesIssuedPursuantToRoundUpProvision ReverseStockSplitValue1 ReverseStockSplitShares1 Preferred Shares Issued for Interest Common Shares Issued For Interest PreferredStockIssuedAsCompensation Increase (Decrease) in Accounts Receivable Increase (Decrease) in Prepaid Expense GainLossOnForgivenessOfDebt UnrealizedLossgainOnInvestmentSecurities Net Cash Provided by (Used in) Operating Activities Net Cash Provided by (Used in) Financing Activities Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents, Period Increase (Decrease), Excluding Exchange Rate Effect Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents Debt, Current EX-101.PRE 10 rgbp-20240331_pre.xml XBRL PRESENTATION FILE XML 12 R1.htm IDEA: XBRL DOCUMENT v3.24.1.u1
Cover
6 Months Ended
Mar. 31, 2024
shares
Cover [Abstract]  
Document Type 10-Q
Amendment Flag false
Document Quarterly Report true
Document Transition Report false
Document Period End Date Mar. 31, 2024
Document Fiscal Period Focus Q2
Document Fiscal Year Focus 2024
Current Fiscal Year End Date --09-30
Entity File Number 333-191725
Entity Registrant Name REGEN BIOPHARMA, INC.
Entity Central Index Key 0001589150
Entity Tax Identification Number 45-5192997
Entity Incorporation, State or Country Code NV
Entity Address, Address Line One 4700 Spring Street
Entity Address, Address Line Two St 304
Entity Address, City or Town La Mesa
Entity Address, State or Province CA
Entity Address, Postal Zip Code 91942
City Area Code 619
Local Phone Number 722-5505
Entity Current Reporting Status No
Entity Interactive Data Current No
Entity Filer Category Non-accelerated Filer
Entity Small Business true
Entity Emerging Growth Company false
Entity Shell Company false
Entity Common Stock, Shares Outstanding 4,114,622
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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
Mar. 31, 2024
Sep. 30, 2023
CURRENT ASSETS    
Cash $ 78,115 $ 121,037
Accounts Receivable, Related Party 39,723 0
Note Receivable, Related Party   0
Prepaid Expenses 200 0
Prepaid Rent 5,000 10,000
 Total Current Assets 123,037 131,037
Investment Securities, Related Party 17,733 222,580
Total Other Assets 17,733 222,580
Total Assets 140,770 353,617
Current Liabilities:    
Accounts payable 29,798 29,674
Notes Payable 49,210 95,710
Accrued payroll taxes 4,241 4,241
Accrued Interest 342,416 342,588
Accrued Payroll 1,256,630 1,256,630
Other Accrued Expenses 41,423 41,423
Bank Overdraft 1,000 1,000
Due to Investor 20,000 20,000
Unearned Income 1,528,451 1,591,731
Unearned Income (Related Party) 0 15,126
Derivative Liability 1,400,000 1,400,000
Convertible Notes Payable Less unamortized discount 499,880 499,880
Convertible Notes Payable, Related Parties Less unamortized discount 0 10,000
Total Current Liabilities 5,173,049 5,308,003
Long Term Liabilities:    
Notes Payable 143,685 149,614
Total Long Term Liabilities 143,685 149,614
Total Liabilities 5,316,734 5,457,617
STOCKHOLDERS' EQUITY (DEFICIT)    
Common Stock ($.0001 par value) 500,000,000 shares authorized; 5,800,000,000 authorized and 4,114,622 issued and outstanding as of March 31, 2024 and 3,506,366 shares issued and outstanding as of September 30, 2023. 412 352
Preferred Stock, 0.0001 par value, 800,000,000 authorized as of March 31, 2024 and September 30, 2023 respectively 40 40
Additional Paid in capital 14,308,349 13,908,141
Contributed Capital 736,326 736,326
Retained Earnings (Deficit) (20,221,096) (19,748,863)
Total Stockholders' Equity (Deficit) (5,175,963) (5,104,000)
TOTAL LIABILITIES & STOCKHOLDERS' EQUITY (DEFICIT) $ 140,770 $ 353,617
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Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares
Mar. 31, 2024
Sep. 30, 2023
Common Stock, Par or Stated Value Per Share $ 0.0001 $ 0.0001
Common Stock, Shares Authorized 5,800,000,000 5,800,000,000
Common Stock, Shares, Outstanding 4,114,622 3,506,366
Preferred Stock, Par or Stated Value Per Share $ 0.0001 $ 0.0001
Preferred Stock, Shares Authorized 800,000,000 800,000,000
Series A Preferred Stock [Member]    
Preferred Stock, Shares Authorized 739,000,000 739,000,000
Preferred Stock, Shares Outstanding 409,551 409,551
Series AA Preferred Stock    
Preferred Stock, Par or Stated Value Per Share $ 0.0001 $ 0.0001
Preferred Stock, Shares Authorized 600,000 600,000
Preferred Stock, Shares Outstanding 34 34
Series M Preferred Stock [Member]    
Preferred Stock, Par or Stated Value Per Share $ 0.0001 $ 0.0001
Preferred Stock, Shares Authorized 60,000,000 60,000,000
Preferred Stock, Shares Outstanding 29,338 29,338
Series N C [Member]    
Preferred Stock, Par or Stated Value Per Share $ 0.0001 $ 0.0001
Preferred Stock, Shares Authorized 20,000 20,000
Preferred Stock, Shares Outstanding 15,007 15,007
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Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Mar. 31, 2024
Mar. 31, 2023
REVENUES        
Revenues $ 31,640 $ 31,640 $ 63,280 $ 63,280
Revenues, Related Party 27,425 27,425 54,849 54,849
TOTAL REVENUES 59,065 59,065 118,129 118,129
COST AND EXPENSES        
Research and Development 40,133 36,446 87,661 131,959
General and Administrative 9,387 18,660 21,806 27,398
Consulting and Professional Fees 93,400 67,800 200,300 471,480
Rent 17,215 15,000 32,215 30,000
Total Costs and Expenses 160,135 137,906 341,981 660,837
OPERATING INCOME (LOSS) (101,071) (78,842) (223,852) (542,708)
OTHER INCOME & (EXPENSES)        
Interest Expense (17,063) (12,085) (34,828) (29,444)
Interest Expense attributable to Amortization of Discount (4,339)   (8,706)  
Unrealized Gain ( Loss) on sale of Investment Securities     (204,847)  
Derivative Income (Expense)   35,949   2,151,755
Gain (Loss) on Extinguishment Convertible Debt       1,150
TOTAL OTHER INCOME (EXPENSE) (21,402) 23,864 (248,380) 2,123,460
NET INCOME (LOSS) (122,473) (54,978) (472,233) 1,580,752
NET INCOME (LOSS) attributable to common shareholders $ (122,473) $ (54,978) $ (472,233) $ 1,391,061
BASIC AND FULLY DILUTED EARNINGS (LOSS) PER SHARE $ (0.03) $ (0.03) $ (0.12) $ 0.41
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING 3,941,013 1,656,429 3,831,431 3,364,578
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Condensed Consolidated Statement of Shareholders' Equity (Deficit) (Unaudited) - USD ($)
Preferred Stock Series A [Member]
Series AA Preferred Stock
Series N C Preferred Stock [Member]
Common Stock [Member]
Series M Preferred Stock [Member]
Additional Paid-in Capital [Member]
Retained Earnings [Member]
Contributed Capital [Member]
Total
Beginning balance, value at Sep. 30, 2022 $ 28 $ 0 $ 335 $ 3 $ 12,132,620 $ (20,905,369) $ 736,326 $ (8,036,059)
Net Income (Loss) 1,635,730 1,635,730
10/25/2022 $ 1 299,999 300,000
Preferred Shares Issued for Nonemployee Services, Shares 6,667                
11/11/2022 $ 7 761,493 761,500
Preferred Shares Issued for Debt, Shares 70,114                
11/11/2022 $ 4 380,258 380,262
Preferred Shares Issued for Interest, Shares 35,012                
11/11/2022 $ 1 25,368 25,369
Common Shares Issued For Interest, Shares       11,279          
12/5/2022 $ 0 48,372 48,372
PreferredSharesIssuedForNonemployeeServicesShares1 1,112                
Ending balance, value at Dec. 31, 2022 $ 40 0 337 3 13,648,107 (19,269,640) 736,326 (4,884,827)
Net Income (Loss) (54,978) (54,978)
3/13/2023
  $ 2 (2) 0
March 6,2023 reverse stock split       15,201          
3/13/2023
 
March 6,2023 reverse stock split 3,593                
3/17/2023 2 10,048 10,050
Stock Issued During Period, Shares, Other       15,000          
Ending balance, value at Mar. 31, 2023 40 0 2 $ 339 3 13,658,153 (19,324,617) 736,326 (4,929,755)
Beginning balance, value at Sep. 30, 2023 40 0 2 352 3 13,908,141 (19,748,863) 736,326 (5,104,000)
10/13/2023 2 22,724 22,726
10/27/2023 4 46,088 46,091
11/10/2023 3 38,202 38,205
11/27/2023 3 32,626 32,629
12/11/2023 4 38,097 38,101
12/20/2023 8 34,535 34,543
Net Income (Loss) (349,760) (349,760)
Ending balance, value at Dec. 31, 2023 40 0 2 376 3 14,120,412 (20,098,623) 736,326 (5,241,463)
Net Income (Loss) (122,473) (122,473)
1/3/2024 9 39,629 39,638
1/10/2024 8 44,288 44,297
2/2/2024 4 19,609 19,614
2/21/2024 5 32,356 32,362
3/6/2023 4 25,278 25,282
3/20/2024 5 26,776 26,781
Ending balance, value at Mar. 31, 2024 $ 40 $ 0 $ 2 $ 413 $ 3 $ 14,308,349 $ (20,221,096) $ 736,326 $ (5,175,963)
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Condensed Consolidated Statement of Shareholders' Equity (Deficit) (Unaudited) (Parenthetical) - shares
3 Months Ended
Mar. 31, 2024
Dec. 31, 2023
Statement of Stockholders' Equity [Abstract]    
[custom:SharesIssuedForCashShares]   16,710
[custom:SharesIssuedForCashShares2]   35,785
[custom:SharesIssuedForCashShares3]   31,732
[custom:SharesIssuedForCashShares4]   33,989
[custom:SharesIssuedForCashShares5]   43,297
[custom:SharesIssuedForCashShares6]   82,686
[custom:SharesIssuedForCashShares7] 94,883  
[custom:SharesIssuedForCashShares8] 82,643  
[custom:SharesIssuedForCashShares9] 40,229  
[custom:SharesIssuedForCashShares10] 52,569  
[custom:SharesIssuedForCashShares11] 44,503  
[custom:SharesIssuedForCashShares12] 49,230  
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Condensed Consolidated Statement of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Mar. 31, 2024
Mar. 31, 2023
CASH FLOWS FROM OPERATING ACTIVITIES    
Net Income (loss) $ (472,233) $ 1,580,752
Adjustments to reconcile net Income to net cash    
Preferred Stock issued as compensation   348,372
Increase (Decrease) in Interest expense attributable to amortization of Discount 8,706  
Increase (Decrease) in Accounts Payable 124 5,248
(Increase) Decrease in Accounts Receivable (39,723) 175,150
Increase (Decrease) in accrued Expenses (171) 29,444
(Increase) Decrease in Prepaid Expenses 5,200 13,714
Increase(Decrease) in Contributed Capital 0  
Increase ( Decrease) in Derivative Expense 0 (2,151,755)
Increase ( Decrease) in Unearned Income (78,407) (63,280)
(Gain) Loss on forgiveness of Debt 0 (1,150)
Unrealized Loss (Gain) on Investment Securities 204,847  
Net Cash Provided by (Used in) Operating Activities (371,657) (63,504)
CASH FLOWS FROM FINANCING ACTIVITIES    
Increase (Decrease) in Convertible Notes Payable (10,000)  
Increase (Decrease) in Notes Payable (61,500) 100,000
Increase (Decrease) in Common Stock issued for cash 400,234  
Net Cash Provided by (Used in) Financing Activities 328,734 100,000
Net Increase (Decrease) in Cash (42,923) 36,949
Cash at Beginning of Period 121,037 51,204
Cash at End of Period $ 78,114 87,700
Supplemental Disclosure of Noncash investing and financing activities:    
Preferred Shares Issued for Debt   761,500
Common shares Issued for Interest   25,369
Preferred Shares issued for Interest   $ 380,262
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ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
6 Months Ended
Mar. 31, 2024
Accounting Policies [Abstract]  
ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

NOTE 1. ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

The Company was organized April 24, 2012 under the laws of the State of Nevada 

The Company intends to engage primarily in the development of regenerative medical applications which we intend to license from other entities up to the point of successful completion of Phase I and or Phase II clinical trials after which we would either attempt to sell or license those developed applications or, alternatively, advance the application further to Phase III clinical trials.

The Company is currently engaged in actively identifying small molecules that inhibit or express NR2F6 leading to immune cell activation for oncology applications and immune cell suppression for autoimmune disease.

The Company is in the early stages of development of its proposed products and therapies. The Company will be required to obtain approval from the FDA in order to market any of The Company’s products or therapies. No approval has been granted by the FDA for the marketing and sale of any of the Company’s products and therapies and no assurance may be given that any of the Company’s products or therapies will be granted such approval. The Company’s current plans include the development of regenerative medical applications up to the point of successful completion of Phase I and/ or Phase II clinical trials after which the Company would either attempt to sell or license those developed applications or, alternatively, advance the application further to Phase III clinical trials. The Company can provide no assurance that the Company will be able to sell or license any product or that, if such product is sold or licensed, such sale or license will be on terms favorable to the Company.

A. BASIS OF ACCOUNTING

The financial statements have been prepared using the basis of accounting generally accepted in the United States of America. Under this basis of accounting, revenues are recorded as earned and expenses are recorded at the time liabilities are incurred. The Company has adopted a September 30 year-end.

B. PRINCIPLES OF CONSOLIDATION

The consolidated financial statements include the accounts of KCL Therapeutics, Inc., a Nevada corporation and wholly owned subsidiary of Regen. Significant inter-company transactions have been eliminated.

The Company analyzes the conversion feature of Convertible Notes for derivative accounting consideration under ASC 815-15 “Derivatives and Hedging. ASC 815-15 requires that the conversion features are bifurcated and separately accounted for as an embedded derivative contained in the Company’s convertible debt. The embedded derivative is carried on the balance sheet at fair value. Any unrealized change in fair value, as determined at each measurement period, is recorded as a component of the income statement and the associated carrying amount on the balance sheet is adjusted by the change. The Company values the embedded derivative using the Black-Scholes pricing model.

The Black Scholes pricing model used to determine the Derivative Liability on convertible notes issued by the Company in which an embedded derivative is recognized as of March 31, 2024 utilized the following inputs:

     
Schedule of Derivative liability   
Risk Free Interest Rate   5.39%
Expected Term   (1.70) – (4.08) Yrs 
Expected Volatility   932.98%
Expected Dividends    

H. INCOME TAXES

The Company accounts for income taxes using the liability method prescribed by ASC 740, “Income Taxes.” Under this method, deferred tax assets and liabilities are determined based on the difference between the financial reporting and tax bases of assets and liabilities using enacted tax rates that will be in effect in the year in which the differences are expected to reverse. The Company records a valuation allowance to offset deferred tax assets if based on the weight of available evidence, it is more-likely-than-not that some portion, or all, of the deferred tax assets will not be realized. The effect on deferred taxes of a change in tax rates is recognized as income or loss in the period that includes the enactment date.

The Company applied the provisions of ASC 740-10-50, “Accounting For Uncertainty In Income Taxes”, which provides clarification related to the process associated with accounting for uncertain tax positions recognized in our financial statements. Audit periods remain open for review until the statute of limitations has passed. The completion of review or the expiration of the statute of limitations for a given audit period could result in an adjustment to the Company’s liability for income taxes. Any such adjustment could be material to the Company’s results of operations for any given quarterly or annual period based, in part, upon the results of operations for the given period. As of June 30, 2023 the Company had no uncertain tax positions, and will continue to evaluate for uncertain positions in the future.

The Company generated a deferred tax credit through net operating loss carry forward.  However, a valuation allowance of 100% has been established.

Interest and penalties on tax deficiencies recognized in accordance with ACS accounting standards are classified as income taxes in accordance with ASC Topic 740-10-50-19.

I.  BASIC EARNINGS (LOSS) PER SHARE

The Financial Accounting Standards Board (FASB) issued Accounting Standards Codification (ASC) 260, “Earnings Per Share”, which specifies the computation, presentation and disclosure requirements for earnings (loss) per share for entities with publicly held common stock. ASC 260 requires the presentation of basic earnings (loss) per share and diluted earnings (loss) per share. The Company has adopted the provisions of ASC 260 effective from inception.

Basic net loss per share amounts is computed by dividing the net income by the weighted average number of common shares outstanding.


J. ADVERTISING

Costs associated with advertising are charged to expense as incurred. Advertising expenses were $0 for the quarters ended March 31, 2023 and March 31, 2024.

K. NOTES RECEIVABLE

Notes receivable are stated at cost, less impairment, if any.

L. REVENUE RECOGNITION

Sales of products and related costs of products sold are recognized when: (i) persuasive evidence of an arrangement exists; (ii) delivery has occurred; (iii) the price is fixed or determinable; and (iv) collectability is reasonably assured. These terms are typically met upon the prepayment or invoicing and shipment of products.

The Company determines the amount and timing of royalty revenue based on its contractual agreements with intellectual property licensees. The Company recognizes royalty revenue when earned under the terms of the agreements and when the Company considers realization of payment to be probable. Where royalties are based on a percentage of licensee sales of royalty-bearing products, the Company recognizes royalty revenue by applying this percentage to the Company’s estimate of applicable licensee sales. The Company bases this estimate on an analysis of each licensee’s sales results. Where warranted, revenue from licensees for contractual obligations such as License Initiation Fees are recognized upon satisfaction of all conditions required to be satisfied in order for that revenue to have been earned by the Company.

M. INTEREST RECEIVABLE

Interest receivable is stated at cost, less impairment, if any.

XML 20 R9.htm IDEA: XBRL DOCUMENT v3.24.1.u1
RECENT ACCOUNTING PRONOUNCEMENTS
6 Months Ended
Mar. 31, 2024
Accounting Changes and Error Corrections [Abstract]  
RECENT ACCOUNTING PRONOUNCEMENTS

NOTE 2. RECENT ACCOUNTING PRONOUNCEMENTS

In June 2014, the Financial Accounting Standards Board issued Accounting Standards Update No. 2014-10, which eliminated certain financial reporting requirements of companies previously identified as “Development Stage Entities” (Topic 915). The amendments in this ASU simplify accounting guidance by removing all incremental financial reporting requirements for development stage entities. The amendments also reduce data maintenance and, for those entities subject to audit, audit costs by eliminating the requirement for development stage entities to present inception-to-date information in the statements of income, cash flows, and shareholder equity. Early application of each of the amendments is permitted for any annual reporting period or interim period for which the entity’s financial statements have not yet been issued (public business entities) or made available for issuance (other entities). Upon adoption, entities will no longer present or disclose any information required by Topic 915. The Company has adopted this standard.

As of the fiscal year ending September 30, 2019 the Company has adopted Accounting Standards Update 2014-09, Revenue from Contracts with Customers (Topic 606). The guidance in this Update supersedes the revenue recognition requirements in Topic 605, Revenue Recognition, and most industry-specific guidance throughout the Industry Topics of the Codification.

The core principle of the guidance is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. To achieve that core principle, an entity should apply the following steps: Step 1: Identify the contract(s) with a customer. Step 2: Identify the performance obligations in the contract. Step 3: Determine the transaction price. Step 4: Allocate the transaction price to the performance obligations in the contract. Step 5: Recognize revenue when (or as) the entity satisfies a performance obligation.

In June 2014, FASB issued Accounting Standards Update (ASU) No. 2014-12 Compensation — Stock Compensation (Topic 718), Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period. A performance target in a share-based payment that affects vesting and that could be achieved after the requisite service period should be accounted for as a performance condition under Accounting Standards Codification (ASC) 718, Compensation — Stock Compensation. As a result, the target is not reflected in the estimation of the award’s grant date fair value. Compensation cost would be recognized over the required service period, if it is probable that the performance condition will be achieved. The guidance is effective for annual periods beginning after 15 December 2015 and interim periods within those annual periods. Early adoption is permitted. The Company has reviewed the applicable ASU and has not, at the current time, quantified the effects of this pronouncement, however it believes that there will be no material effect on the consolidated financial statements.

In August 2014, FASB issued Accounting Standards Update (ASU) No. 2014-15 Preparation of Financial Statements – Going Concern (Subtopic 205-40), Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern. Under generally accepted accounting principles (GAAP), continuation of a reporting entity as a going concern is presumed as the basis for preparing financial statements unless and until the entity’s liquidation becomes imminent. Preparation of financial statements under this presumption is commonly referred to as the going concern basis of accounting. If and when an entity’s liquidation becomes imminent, financial statements should be prepared under the liquidation basis of accounting in accordance with Subtopic 205-30, Presentation of Financial Statements—Liquidation Basis of Accounting. Even when an entity’s liquidation is not imminent, there may be conditions or events that raise substantial doubt about the entity’s ability to continue as a going concern. In those situations, financial statements should continue to be prepared under the going concern basis of accounting, but the amendments in this Update should be followed to determine whether to disclose information about the relevant conditions and events. The amendments in this Update are effective for the annual period ending after December 15, 2016, and for annual periods and interim periods thereafter. Early application is permitted. The Company will evaluate the going concern considerations in this ASU, however, at the current period, management does not believe that it has met the conditions which would subject these financial statements for additional disclosure.

On January 31, 2013, the FASB issued Accounting Standards Update [ASU] 2013-01, entitled Clarifying the Scope of Disclosures about Offsetting Assets and Liabilities. The guidance in ASU 2013-01 amends the requirements in the FASB Accounting Standards Codification [FASB ASC] Topic 210, entitled Balance Sheet. The ASU 2013-01 amendments to FASB ASC 210 clarify that ordinary trade receivables and receivables in general are not within the scope of ASU 2011-11, entitled Disclosure about Offsetting Assets and Liabilities, where that ASU amended the guidance in FASB ASC 210. As those disclosures now are modified with the ASU 2013-01 amendments, the FASB ASC 210 balance sheet offsetting disclosures now clearly are applicable only where reporting entities are involved with bifurcated embedded derivatives, repurchase agreements, reverse repurchase agreements, and securities borrowing and lending transactions that either are offset using the FASB ASC 210 or 815 requirements, or that are subject to enforceable master netting arrangements or similar agreements. ASU 2013-01 is effective for annual reporting periods beginning on or after January 1, 2013, and interim periods within those annual periods. The adoption of this ASU is not expected to have a material impact on our financial statements.

 On February 28, 2013, the FASB issued Accounting Standards Update [ASU] 2013-04, entitled Obligations Resulting from Joint and Several Liability Arrangements for Which the Total Amount of the Obligation Is Fixed at the Reporting Date. The ASU 2013-04 amendments add to the guidance in FASB Accounting Standards Codification [FASB ASC] Topic 405, entitled Liabilities and require reporting entities to measure obligations resulting from certain joint and several liability arrangements where the total amount of the obligation is fixed as of the reporting date, as the sum of the following:

The amount the reporting entity agreed to pay on the basis of its arrangement among co-obligors.

Any additional amounts the reporting entity expects to pay on behalf of its co-obligors.

While early adoption of the amended guidance is permitted, for public companies, the guidance is required to be implemented in fiscal years, and interim periods within those years, beginning after December 15, 2013. The amendments need to be implemented retrospectively to all prior periods presented for obligations resulting from joint and several liability arrangements that exist at the beginning of the year of adoption. The adoption of ASU 2013-04 is not expected to have a material effect on the Company’s operating results or financial position.

On April 22, 2013, the FASB issued Accounting Standards Update [ASU] 2013-07, entitled Liquidation Basis of Accounting. With ASU 2013-07, the FASB amends the guidance in the FASB Accounting Standards Codification [FASB ASC] Topic 205, entitled Presentation of Financial Statements. The amendments serve to clarify when and how reporting entities should apply the liquidation basis of accounting. The guidance is applicable to all reporting entities, whether they are public or private companies or not-for-profit entities. The guidance also provides principles for the recognition of assets and liabilities and disclosures, as well as related financial statement presentation requirements. The requirements in ASU 2013-07 are effective for annual reporting periods beginning after December 15, 2013, and interim reporting periods within those annual periods. Reporting entities are required to apply the requirements in ASU 2013-07 prospectively from the day that liquidation becomes imminent. Early adoption is permitted. The adoption of ASU 2013-07 is not expected to have a material effect on the Company’s operating results or financial position.

In January 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (ASU) 2016-01, which amends the guidance in U.S. GAAP on the classification and measurement of financial instruments. Changes to the current guidance primarily affect the accounting for equity investments, financial liabilities under the fair value option, and the presentation and disclosure requirements for financial instruments. In addition, the ASU clarifies guidance related to the valuation allowance assessment when recognizing deferred tax assets resulting from unrealized losses on available-for-sale debt securities. The new standard is effective for fiscal years and interim periods beginning after December 15, 2017, and upon adoption, an entity should apply the amendments by means of a cumulative-effect adjustment to the balance sheet at the beginning of the first reporting period in which the guidance is effective. Early adoption is not permitted except for the provision to record fair value changes for financial liabilities under the fair value option resulting from instrument-specific credit risk in other comprehensive income. The Company adopted ASU 2016-01 as of the fiscal year ending September 30, 2019.

In August 2020, FASB issued ASU 2020-06, Accounting for Convertible Instruments and Contracts in an Entity; Own Equity (“ASU 2020-06”), as part of its overall simplification initiative to reduce costs and complexity of applying accounting standards while maintaining or improving the usefulness of the information provided to users of financial statements. Among other changes, the new guidance removes from GAAP separation models for convertible debt that require the convertible debt to be separated into a debt and equity component, unless the conversion feature is required to be bifurcated and accounted for as a derivative or the debt is issued at a substantial premium. As a result, after adopting the guidance, entities will no longer separately present such embedded conversion features in equity, and will instead account for the convertible debt wholly as debt. The new guidance also requires use of the “if-converted” method when calculating the dilutive impact of convertible debt on earnings per share, which is consistent with the Company’s current accounting treatment under the current guidance. The guidance is effective for financial statements issued for fiscal years beginning after December 15, 2021, and interim periods within those fiscal years, with early adoption permitted, but only at the beginning of the fiscal year. The Company has adopted ASU 2020-06 as of the Fiscal Year ending September 30, 2022.

A variety of proposed or otherwise potential accounting standards are currently under study by standard setting organizations and various regulatory agencies. Due to the tentative and preliminary nature of those proposed standards, the Company’s management has not determined whether implementation of such standards would be material to its financial statements.

XML 21 R10.htm IDEA: XBRL DOCUMENT v3.24.1.u1
GOING CONCERN
6 Months Ended
Mar. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
GOING CONCERN

NOTE 3. GOING CONCERN

The accompanying financial statements have been prepared assuming that the Company will continue as a going concern. The Company generated net losses of $20,221,096  during the period from April 24, 2012 (inception) through March 31, 2024. This condition raises substantial doubt about the Company’s ability to continue as a going concern. The Company’s continuation as a going concern is dependent on its ability to meet its obligations, to obtain additional financing as may be required and ultimately to attain profitability. The financial statements do not include any adjustments that might result from the outcome of this uncertainty.

On September 12, 2023 the Company entered into a common stock purchase agreement (the “Equity Line Agreement”) with Coventry Enterprises LLC (“Coventry”) providing for an equity financing facility (the “Equity Line”). The Equity Line Agreement provides that upon the terms and subject to the conditions in the Equity Line Agreement, Coventry is committed to purchase up to Ten Million Dollars ($10,000,000) of shares of common stock, $0.0001 par value per share (the “Common Stock”), over the 36-month term of the Equity Line Agreement (the “Total Commitment”).

Under the terms of the Equity Line Agreement, Coventry will not be obligated to purchase shares of Common Stock unless and until certain conditions are met, including but not limited to a Registration Statement on Form S-1 (the “Registration Statement”) becoming effective which registers Coventry’s resale of any Common Stock purchased by Coventry under the Equity Line.

From time to time over the 36-month term of the Commitment Period ( as such term is defined in the Equity Line Agreement) the Company, in its sole discretion, may provide Coventry with a draw down notice (each, a “Draw Down Notice”), to purchase a specified number of shares of Common Stock (each, a “Draw Down Amount Requested”), subject to the limitations discussed below. The actual amount of proceeds the Company will receive pursuant to each Draw Down Notice (each, a “Draw Down Amount”) is to be determined by multiplying the Draw Down Amount Requested by the applicable purchase price. The purchase price of each share of Common Stock equals 80% of the lowest trading price of the Common Stock during the ten business days prior to the Draw Down Notice date (the “Pricing Period”).

The maximum number of shares of Common Stock requested to be purchased pursuant to any single Draw Down Notice cannot exceed the lesser of (i) 200% of the Average Daily Traded Value (as such term is defined in the Equity Line Agreement) during the ten business days immediately preceding the Drawdown Notice Date or (ii) $250,000. The Company is prohibited from delivering a Draw Down Notice if the sale of shares of Common Stock pursuant to the Draw Down Notice would cause the Company to issue and sell to Coventry or Coventry to acquire or purchase an aggregate number of shares of Common Stock that would result in Coventry beneficially owning more than 4.99% of the issued and outstanding shares of Common Stock of the Company.

The Company issued Coventry 125,000 shares of its Common Stock in connection with the Equity Line Agreement.

Coventry has agreed that:

(a)for so long as the market price of the Company’s common stock is above $1.25 per share and
(b)the Company is in full compliance with all agreements entered into with Coventry and
(c)and the Company has not issued any common shares at a per share price below $1.50, Coventry will agree to a leak out provision and will not sell more than 10,000 shares of the Commitment shares without permission from the Issuer.

 

In connection with the Equity Line Agreement the Company also entered into a Registration Rights Agreement, dated September 12, 2023 with Coventry (the “Registration Rights Agreement”), pursuant to which the Company agreed to register for resale under the Securities Act of 1933 shares issuable in accordance with the Equity Line Agreement as well as the aforementioned 125,000 common shares issued in connection with the Equity Line Agreement in a Registration Statement to be filed with the Securities and Exchange Commission. Up to 1,126,954 Shares of Common Stock were registered for resale under the Securities Act of 1933 pursuant to the Registration Rights Agreement.

During the quarter ended December 31, 2023 the Company issued 244,199 common shares pursuant to the Equity Line Agreement for aggregate cash consideration of $212,296. During the Quarter ended March 31, 2024 the Company issued 364,057 common shares pursuant to the Equity Line Agreement for aggregate cash consideration of $187,937.

XML 22 R11.htm IDEA: XBRL DOCUMENT v3.24.1.u1
NOTES PAYABLE
6 Months Ended
Mar. 31, 2024
Debt Disclosure [Abstract]  
NOTES PAYABLE

NOTE 4. NOTES PAYABLE

(a) RELATED PARTY

       
    As of March 31, 2024
David Koos   $ 710  
Total:   $ 710  

$710 lent to the Company by David Koos is due and payable at the demand of the holder and bears simple interest at a rate of 15% per annum.

(b) NON RELATED PARTY As of March 31, 2024

       
Bostonia Partners, Inc   $ 100.000  
Total:   $ 100,000  

$48,500 lent to the Company by Bostonia Partners, Inc is due and payable on March 10, 2024 and bears simple interest at a rate of 10% per annum.

Effective September 12, 2023 Coventry Enterprises purchased a 10% unsecured promissory Note (the “Note”) from the Company in the principal amount of $175,000 of which $26,250 was retained by Coventry through an Original Issue Discount.

The Note carries “Guaranteed Interest” on the principal amount at the rate of 10% per annum for the eighteen-month term of the Note for an aggregate Guaranteed Interest $26,250. The Principal Amount and the Guaranteed Interest shall be due and payable in seven equal monthly payments of $28,750 commencing on August 12, 2024 and continuing on the 12th day of each month thereafter until paid in full not later than March 12, 2025(the “Maturity Date”).

Upon an Event of Default (as such term is defined in the Note) the Note shall become convertible, in whole or in part, into shares of Common Stock at the option of the Holder at price per share equivalent to 90% of the lowest per-share trading price for the 20 Trading Days preceding a Conversion Date.

Upon the event that while this Note has been outstanding for four months, the Company consummates another financing transaction or if the Company has an effective Regulation A Offering Statement then the Investor may choose to convert any amount up to the entire balance of the note including guaranteed interest into shares at the same offering price as the aforementioned financing transaction or the Regulation A Offering. The outstanding principal balance of the Note is $160,000 as of March 31, 2024.

XML 23 R12.htm IDEA: XBRL DOCUMENT v3.24.1.u1
CONVERTIBLE NOTES PAYABLE
6 Months Ended
Mar. 31, 2024
Convertible Notes Payable  
CONVERTIBLE NOTES PAYABLE

NOTE 5. CONVERTIBLE NOTES PAYABLE

On March 8, 2016 (“Issue date”) the Company issued a Convertible Note (“Note”) in the face amount of $100,000 for consideration consisting of $100,000 cash. The Note pays simple interest in the amount of 8% per annum . The maturity of the Note is three years from the issue date.

The Lender shall have the right from time to time to convert all or a part of the outstanding and unpaid principal amount of this Note into fully paid and non- assessable shares of Common Stock, as such Common Stock exists on the Issue Date, or any shares of capital stock or other securities of the Company into which such Common Stock shall hereafter be changed or reclassified pursuant to the following terms and conditions:

(a) For the period beginning on the Issue Date and ending 365 days subsequent to the Issue Date (“Year 1”) a 50% discount to the lowest Trading Price (as defined below) for the Common Stock during the ten (10) Trading Day (as defined below) period ending on the latest complete Trading Day prior to the Conversion Date or $150 per share (whichever is greater).

(b) For the period beginning one day subsequent to the final day of Year One and ending 365 days subsequent to Year One (“Year 2”) a 35% discount to the lowest Trading Price (as defined below) for the Common Stock during the ten (10) Trading Day (as defined below) period ending on the latest complete Trading Day prior to the Conversion Date or $150 per share (whichever is greater).

(c) For the period beginning one day subsequent to the final day of Year 2 and ending 365 days subsequent to Year 2 (“Year 3”) a 25% discount to the lowest Trading Price (as defined below) for the Common Stock during the ten (10) Trading Day (as defined below) period ending on the latest complete Trading Day prior to the Conversion Date or $150 per share (whichever is greater).

(d) “Trading Price” means the closing bid price on the Over-the-Counter Bulletin Board, or applicable trading market (the “OTCQB”) as reported by a reliable reporting service (“Reporting Service”) designated by the Lender (i.e. Bloomberg) or, if the OTCQB is not the principal trading market for such security, the closing bid price of such security on the principal securities exchange or trading market where such security is listed or traded or, if no closing bid price of such security is available in any of the foregoing manners, the average of the closing bid prices of any market makers for such security that are listed in the “pink sheets” by the National Quotation Bureau, Inc. If the Trading Price cannot be calculated for such security on such date in the manner provided above, the Trading Price shall be the fair market value as mutually determined by the Company and the Lender. “Trading Day” shall mean any day on which the Common Stock is tradable for any period on the OTCQB, or on the principal securities exchange or other securities market on which the Common Stock is then being traded. “Trading Volume” shall mean the number of shares traded on such Trading Day as reported by such Reporting Service. The Conversion Price shall be equitably adjusted for stock splits, stock dividends, rights offerings, combinations, recapitalization, reclassifications, extraordinary distributions and similar events by the Company relating to the Lender’s securities.

The Company shall have the right, exercisable on not less than five (5) Trading Days prior written notice to the Lender, to prepay the outstanding Note in part or in full, including outstanding principal and accrued interest.

Upon closing of a Transaction Event the Lender shall receive 0 .10% ( one tenth of one percent)of the consideration actually received by the Company from an unaffiliated third party as a result of the closing of a Transaction Event.

“Transaction Event” shall mean either of:

(a) The sale by the Company of the Company’s proprietary NR2F6 intellectual property to an unaffiliated third party

(b) The granting of a license by the Company to an unaffiliated third party granting that unaffiliated third party the right to develop and/or commercialize the Company’s proprietary NR2F6 intellectual property

As of March 31, 2024 $100,000 of the principal amount of the Note remains outstanding.

On April 6, 2016 (“Issue date”) the Company issued a Convertible Note (“Note”) in the face amount of $50,000 for consideration consisting of $50,000 cash. The Note pays simple interest in the amount of 8% per annum . The maturity of the Note is three years from the issue date.

The Lender shall have the right from time to time to convert all or a part of the outstanding and unpaid principal amount of this Note into fully paid and non- assessable shares of Common Stock, as such Common Stock exists on the Issue Date, or any shares of capital stock or other securities of the Company into which such Common Stock shall hereafter be changed or reclassified pursuant to the following terms and conditions:

(a) For the period beginning on the Issue Date and ending 365 days subsequent to the Issue Date (“Year 1”) a 50% discount to the lowest Trading Price (as defined below) for the Common Stock during the ten (10) Trading Day (as defined below) period ending on the latest complete Trading Day prior to the Conversion Date or$150 per share (whichever is greater).

(b) For the period beginning one day subsequent to the final day of Year One and ending 365 days subsequent to Year One (“Year 2”) a 35% discount to the lowest Trading Price (as defined below) for the Common Stock during the ten (10) Trading Day (as defined below) period ending on the latest complete Trading Day prior to the Conversion Date or $150 per share (whichever is greater).

(c) For the period beginning one day subsequent to the final day of Year 2 and ending 365 days subsequent to Year 2 (“Year 3”) a 25% discount to the lowest Trading Price (as defined below) for the Common Stock during the ten (10) Trading Day (as defined below) period ending on the latest complete Trading Day prior to the Conversion Date or $150 per share (whichever is greater).

(d) “Trading Price” means the closing bid price on the Over-the-Counter Bulletin Board, or applicable trading market (the “OTCQB”) as reported by a reliable reporting service (“Reporting Service”) designated by the Lender (i.e. Bloomberg) or, if the OTCQB is not the principal trading market for such security, the closing bid price of such security on the principal securities exchange or trading market where such security is listed or traded or, if no closing bid price of such security is available in any of the foregoing manners, the average of the closing bid prices of any market makers for such security that are listed in the “pink sheets” by the National Quotation Bureau, Inc. If the Trading Price cannot be calculated for such security on such date in the manner provided above, the Trading Price shall be the fair market value as mutually determined by the Company and the Lender. “Trading Day” shall mean any day on which the Common Stock is tradable for any period on the OTCQB, or on the principal securities exchange or other securities market on which the Common Stock is then being traded. “Trading Volume” shall mean the number of shares traded on such Trading Day as reported by such Reporting Service. The Conversion Price shall be equitably adjusted for stock splits, stock dividends, rights offerings, combinations, recapitalization, reclassifications, extraordinary distributions and similar events by the Company relating to the Lender’s securities.


The Company shall have the right, exercisable on not less than five (5) Trading Days prior written notice to the Lender, to prepay the outstanding Note in part or in full, including outstanding principal and accrued interest.

Upon closing of a Transaction Event the Lender shall receive 0 .10% ( one tenth of one percent) of the consideration actually received by the Company from an unaffiliated third party as a result of the closing of a Transaction Event.

“Transaction Event” shall mean either of:

(a) The sale by the Company of the Company’s proprietary NR2F6 intellectual property to an unaffiliated third party

(b) The granting of a license by the Company to an unaffiliated third party granting that unaffiliated third party the right to develop and/or commercialize the Company’s proprietary NR2F6 intellectual property

As of March 31, 2024 $50,000 of the principal amount of the Note remains outstanding.

On October 31, 2016 (“Issue date”) the Company issued a Convertible Note (“Note”) in the face amount of $50,000 for consideration consisting of $50,000 cash. The Note pays simple interest in the amount of 10% per annum . The maturity of the Note is two years from the issue date.

The Lender shall have the right from time to time to convert all or a part of the outstanding and unpaid principal amount of this Note into fully paid and non- assessable shares of Common Stock and/or Series A Preferred Stock, as such Stock exists on the Issue Date, or any shares of capital stock or other securities of the Company into which such Stock shall hereafter be changed or reclassified at a conversion price of $18.75 per share.

The Company shall have the right, exercisable on not less than ten (10) Trading Days prior written notice to the Lender, to prepay the outstanding Note in part or in full, including outstanding principal and accrued interest.

As of March 31, 2024 $50,000 of the principal amount of the Note remains outstanding


On May 5, 2017 (“Issue date”) the Company issued a Convertible Note (“Note”) in the face amount of $200,000 for consideration consisting of $200,000 cash. The Note pays simple interest in the amount of 10% per annum . The maturity of the Note is May 5, 2020. The Note is convertible into the Common Shares of Regen at a price per share ( “Conversion Price”) equivalent to the lower of (a) a 75% discount to the closing price of the common stock of the Company on the trading day immediately prior to the date a conversion notice is given by the Lender to Regen or (b) $375 per common share as of the date which is the earlier of:

(i) One day subsequent to the execution of an agreement to a transaction whose completion would result in a “Change of Control” of the Company. For purposes of this Note, a Change of Control shall be defined as any transaction or series of transactions, whether by merger, sale of substantially all of the assets, or sale or transfer of more than fifty percent (50%) of the outstanding stock of the relevant entity in which the members of the Board of Directors immediately preceding the closing of the Change of Control transaction no longer constitute a majority of the Board of Directors of the surviving entity following the closing of such transaction.

ii) One day subsequent to the commencement, in compliance with applicable law, of a broad solicitation by a third party to purchase a majority percentage of the Company’s outstanding equity securities for a limited period of time contingent on shareholders of the Company tendering a fixed number of their equity securities (“Tender Offer”).

(iii) That date which is twenty four (24) months subsequent to the date of execution of this Note.

The Company shall have the right, exercisable on not less than ten (10) Trading Days prior written notice to the Lender, to prepay the outstanding Note in part or in full, including outstanding principal and accrued interest.

In the event that that the Company exercises its right to prepay the note, or if the Lender chooses not to convert the remaining amount of the note into Common Shares of the company, the Lender shall receive warrants equal to 10% of the Common shares it would have received had the Lender converted the remaining amount of the Note into Common shares of the Company. The warrants shall have a strike price of $75 per share.

The warrants shall be exercisable:

In the event that the Company exercises its right to Prepay the Note on or prior to the close of business on the three (3) month anniversary of the date that the Note shall have been prepaid by the Company(“Prepayment Date”)

In the event , part of the outstanding and unpaid principal amount of this Note and any Accrued Interest remains outstanding on the Maturity Date of the Note, or prior to the close of business on the three (3) month anniversary of the Maturity Date of the Note

As of March 31, 2024 $200,000 of the principal amount of the Note remains outstanding.

The Company analyzed the conversion feature of the Note for derivative accounting consideration under ASC 815-15 “Derivatives and Hedging” and determined that the embedded conversion feature should be classified as a liability due to their being no explicit limit to the number of shares to be delivered upon settlement of the above conversion features. ASC 815-15 requires that the conversion features are bifurcated and separately accounted for as an embedded derivative contained in the Company’s convertible debt. The embedded derivative is carried on the balance sheet at fair value. Any unrealized change in fair value, as determined at each measurement period, is recorded as a component of the income statement and the associated carrying amount on the balance sheet is adjusted by the change.

The Company values the embedded derivative using the Black-Scholes pricing model and a derivative liability of $800,000 was recognized by the Company as of March 31, 2024.

On December 20, 2017 (“Issue date”) the Company issued a Convertible Note (“Note”) in the face amount of $100,000 for consideration consisting of $100,000 cash. The Note pays simple interest in the amount of 10% per annum. The maturity of the Note is December 20, 2020. The Note may be converted into the Common Shares of Regen at a price per share ( “Conversion Price”) equivalent to the lower of (a) a 75% discount to the closing price of the common stock of the Company on the trading day immediately prior to the date a conversion notice is given by the Lender to Regen or (b) $37.50 per common share as of the date which is the earlier of:

(i) One day subsequent to the execution of an agreement to a transaction whose completion would result in a “Change of Control” of the Company or KCL Therapeutics. For purposes of this Note, a Change of Control shall be defined as any transaction or series of transactions, whether by merger, sale of substantially all of the assets, or sale or transfer of more than fifty percent (50%) of the outstanding stock of the relevant entity in which the members of the Board of Directors immediately preceding the closing of the Change of Control transaction no longer constitute a majority of the Board of Directors of the surviving entity following the closing of such transaction.

(ii) One day subsequent to the commencement, in compliance with applicable law, of a broad solicitation by a third party to purchase a majority percentage of the Company’s outstanding equity securities for a limited period of time contingent on shareholders of the Company tendering a fixed number of their equity securities (“Tender Offer”).

(iv) One day subsequent to a “Transaction Event”)

Transaction Event” shall mean either of:

(a) The sale by the Company or by KCL Therapeutics , Inc. of the Company’s proprietary NR2F6 intellectual property to an unaffiliated third party

(b) The granting of a license by the Company or by KCL Therapeutics , Inc to an unaffiliated third party granting that unaffiliated third party the right to develop and/or commercialize the Company’s proprietary NR2F6 intellectual property

(v) That date which is twenty four (24) months subsequent to the date of execution of this Note.


The Company shall have the right, exercisable on not less than ten (10) Trading Days prior written notice to the Lender, to prepay the outstanding Note in part or in full, including outstanding principal and accrued interest.

In the event that that the Company exercises its right to prepay the note, or if the Lender chooses not to convert the remaining amount of the note into Common Shares of the company, the Lender shall receive warrants equal to 10% of the Common shares it would have received had the Lender converted the remaining amount of the Note into Common shares of the Company. The warrants shall have a strike price of $37.5 per share.

The warrants shall be exercisable:

In the event that the Company exercises its right to Prepay the Note on or prior to the close of business on the three (3) month anniversary of the date that the Note shall have been prepaid by the Company (“Prepayment Date”)

In the event , part of the outstanding and unpaid principal amount of this Note and any Accrued Interest remains outstanding on the Maturity Date of the Note, or prior to the close of business on the three (3) month anniversary of the Maturity Date of the Note

As of March 31, 2024 $100,000 of the principal amount of the Note remains outstanding.

The Company analyzed the conversion feature of the Note for derivative accounting consideration under ASC 815-15 “Derivatives and Hedging” and determined that the embedded conversion feature should be classified as a liability due to their being no explicit limit to the number of shares to be delivered upon settlement of the above conversion features. ASC 815-15 requires that the conversion features are bifurcated and separately accounted for as an embedded derivative contained in the Company’s convertible debt. The embedded derivative is carried on the balance sheet at fair value. Any unrealized change in fair value, as determined at each measurement period, is recorded as a component of the income statement and the associated carrying amount on the balance sheet is adjusted by the change.

The Company values the embedded derivative using the Black-Scholes pricing model and a derivative liability of $400,000 was recognized by the Company as of March 31, 2024.

On October 3, 2017 (“Issue date”) the Company issued a Convertible Note (“Note”) in the face amount of $50,000 for consideration consisting of $50,000 cash. The Note pays simple interest in the amount of 10% per annum. The maturity of the Note is October 3, 2020. The Note may be converted into the Common Shares of Regen at a price per share ( “Conversion Price”) equivalent to the lower of (a) a 75% discount to the closing price of the common stock of the Company on the trading day immediately prior to the date a conversion notice is given by the Lender to Regen or (b) $37.5 per common share as of the date which is the earlier of:

(i) One day subsequent to the execution of an agreement to a transaction whose completion would result in a “Change of Control” of the Company or KCL Therapeutics. For purposes of this Note, a Change of Control shall be defined as any transaction or series of transactions, whether by merger, sale of substantially all of the assets, or sale or transfer of more than fifty percent (50%) of the outstanding stock of the relevant entity in which the members of the Board of Directors immediately preceding the closing of the Change of Control transaction no longer constitute a majority of the Board of Directors of the surviving entity following the closing of such transaction.

(ii) One day subsequent to the commencement, in compliance with applicable law, of a broad solicitation by a third party to purchase a majority percentage of the Company’s outstanding equity securities for a limited period of time contingent on shareholders of the Company tendering a fixed number of their equity securities (“Tender Offer”).

(iv) One day subsequent to a “Transaction Event”)

Transaction Event” shall mean either of:

(a) The sale by the Company or by KCL Therapeutics , Inc. of the Company’s proprietary NR2F6 intellectual property to an unaffiliated third party

(b) The granting of a license by the Company or by KCL Therapeutics , Inc to an unaffiliated third party granting that unaffiliated third party the right to develop and/or commercialize the Company’s proprietary NR2F6 intellectual property

(v) That date which is twenty four (24) months subsequent to the date of execution of this Note.

The Company shall have the right, exercisable on not less than ten (10) Trading Days prior written notice to the Lender, to prepay the outstanding Note in part or in full, including outstanding principal and accrued interest.

In the event that that the Company exercises its right to prepay the note, or if the Lender chooses not to convert the remaining amount of the note into Common Shares of the company, the Lender shall receive warrants equal to 10% of the Common shares it would have received had the Lender converted the remaining amount of the Note into Common shares of the Company. The warrants shall have a strike price of $37.5 per share.

The warrants shall be exercisable:

In the event that the Company exercises its right to Prepay the Note on or prior to the close of business on the three (3) month anniversary of the date that the Note shall have been prepaid by the Company (“Prepayment Date”)

In the event , part of the outstanding and unpaid principal amount of this Note and any Accrued Interest remains outstanding on the Maturity Date of the Note, or prior to the close of business on the three (3) month anniversary of the Maturity Date of the Note

As of March 31, 2024, $50,000 of the principal amount of the Note remains outstanding.

The Company analyzed the conversion feature of the Note for derivative accounting consideration under ASC 815-15 “Derivatives and Hedging” and determined that the embedded conversion feature should be classified as a liability due to their being no explicit limit to the number of shares to be delivered upon settlement of the above conversion features. ASC 815-15 requires that the conversion features are bifurcated and separately accounted for as an embedded derivative contained in the Company’s convertible debt. The embedded derivative is carried on the balance sheet at fair value. Any unrealized change in fair value, as determined at each measurement period, is recorded as a component of the income statement and the associated carrying amount on the balance sheet is adjusted by the change.

The Company values the embedded derivative using the Black-Scholes pricing model and a derivative liability of $200,000 was recognized by the Company as of March 31, 2024.

XML 24 R13.htm IDEA: XBRL DOCUMENT v3.24.1.u1
RELATED PARTY TRANSACTIONS
6 Months Ended
Mar. 31, 2024
Related Party Transactions [Abstract]  
RELATED PARTY TRANSACTIONS

NOTE 6. RELATED PARTY TRANSACTIONS

On June 23, 2015 the Company entered into an agreement (“Agreement”) with Zander Therapeutics, Inc. ( “Zander”) whereby The Company granted to Zander an exclusive worldwide right and license for the development and commercialization of certain intellectual property controlled by The Company (” License IP”) for non-human veterinary therapeutic use for a term of fifteen years. Zander is under common control with the Company.

Pursuant to the Agreement, Zander shall pay to The Company one-time, non-refundable, upfront payment of one hundred thousand US dollars ($100,000) as a license initiation fee which must be paid within 90 days of June 23, 2015 and an annual non-refundable payment of one hundred thousand US dollars ($100,000) on July 15th, 2016 and each subsequent anniversary of the effective date of the Agreement.

The abovementioned payments may be made, at Zander’s discretion, in cash or newly issued common stock of Zander.

Pursuant to the Agreement, Zander shall pay to The Company royalties equal to four percent (4%) of the Net Sales , as such term is defined in the Agreement, of any Licensed Products, as such term is defined in the Agreement, in a Quarter.

Pursuant to the Agreement, Zander will pay The Company ten percent (10%) of all consideration (in the case of in-kind consideration, at fair market value as monetary consideration) received by Zander from sublicensees ( excluding royalties from sublicensees based on Net Sales of any Licensed Products for which The Company receives payment pursuant to the terms and conditions of the Agreement).

Zander is obligated pay to The Company minimum annual royalties of ten thousand US dollars ($10,000) payable per year on each anniversary of the Effective Date of this Agreement, commencing on the second anniversary of June 23, 2015. This minimum annual royalty is only payable to the extent that royalty payments made during the preceding 12-month period do not exceed ten thousand US dollars ($10,000).

The Agreement may be terminated by The Company:

If Zander has not sold any Licensed Product by ten years of the effective date of the Agreement or Zander has not sold any Licensed Product for any twelve (12) month period after Zander’s first commercial sale of a Licensed Product.

The Agreement may be terminated by Zander with regard to any of the License IP if by five years from the date of execution of the Agreement a patent has not been granted by the United States patent and Trademark Office to The Company with regard to that License IP.

The Agreement may be terminated by Zander with regard to any of the License IP if a patent that has been granted by the United States patent and Trademark Office to The Company with regard to that License IP is terminated.

The Agreement may be terminated by either party in the event of a material breach by the other party.

On December 17, 2018 Regen Biopharma, Inc.(“Licensor”) , KCL Therapeutics, Inc. (“Assignee”) and Zander Therapeutics, Inc. (“Licensee”) entered into a LICENSE ASSIGNMENT AND CONSENT AGREEMENT whereby, with regards to certain intellectual property which was assigned by Regen Biopharma, Inc.(“Assigned Properties”) to its wholly owned subsidiary KCL Therapeutics, Inc., Licensor hereby transfers and assigns to Assignee all rights, duties, and obligations of Licensor under the Agreement with respect to the Assigned Properties , and Assignee agrees to assume such duties and obligations thereunder and be bound to the terms of the Agreement with respect thereto.

On December 16, 2019 Zander Therapeutics, Inc. (“Zander”), KCL Therapeutics, Inc. (“KCL”) and Regen Biopharma, Inc. (“Regen”) entered into an agreement (“Agreement”) whereby:

1) Zander shall return for cancellation 194,285,714 shares of the Series A Preferred stock of Regen (“Conversion Shares”) acquired by Zander through conversion of $340,000 of principal indebtedness of a $350,000 convertible note payable issued by Regen to Zander. Subsequent to this event the principal amount due to Zander by Regen pursuant to the Convertible Note shall be $350,000 which shall be applied pursuant to the Agreement.

2) A $35,000 one time charge due to Zander by Regen (“One Time Charge”) shall be applied pursuant to the Agreement.

3) $75,900 of principal indebtedness due to Regen by Zander and $4,328 of accrued but unpaid interest due by Regen to Zander shall be applied pursuant to the Agreement.

No actions were taken by any of the parties to enforce the terms of the Agreement.

On April 15, 2021 the Agreement was amended as follows so that the material terms and conditions shall be:

a) Zander shall not return the Conversion shares for cancellation and the principal indebtedness of the aforementioned convertible note shall not reflect such return

b) As of December 16, 2019 all principal and accrued interest payable by Regen to Zander on that date resulting from Promissory Notes issued by Regen to Zander shall be credited towards amounts due by Zander pursuant to that agreement, as amended, entered into by and between Zander and Regen on June 23, 2015 (“License Agreement”) whereby Regen granted to Zander an exclusive worldwide right and license for the development and commercialization of certain intellectual property controlled by Regen for non-human veterinary therapeutic use for a term of fifteen years and that License Assignment And Consent agreement entered into by and between Regen, KCL and Zander on December 17, 2018 whereby Regen transferred and assigned to KCL all rights, duties, and obligations of Regen under the License Agreement and KCL agreed to assume such duties and obligations thereunder and be bound to the terms of the License Agreement with respect thereto.

Zander and Regen are under common control.

On September 30, 2018 Regen Biopharma, Inc. (“Regen”) issued a convertible promissory note in the principal amount of $350,000 (“Note”) to Zander Therapeutics, Inc. (“Zander”). Consideration for the Note consisted of $350,000. A onetime interest charge of 10% of the principal amount shall be applied to the principal amount of the Note. The Note is due and payable 24 months from the effective date.

Zander has the right, at any time after the September 30, 2018, at its election, to convert all or part of the outstanding and unpaid Principal Sum and accrued interest (and any other fees) into shares of fully paid and non-assessable shares of Series A Preferred stock of Regen as per this conversion formula: Number of shares receivable upon conversion equals the dollar conversion amount divided by the Conversion Price. The Conversion Price is the greater of $0.0001 or 60% of the lowest trade price in the 25 trading days previous to the conversion. Zander, at any time prior to selling all of the shares from a conversion, may, for any reason, rescind any portion, in whole or in part, of that particular conversion attributable to the unsold shares and have the rescinded conversion amount returned to the Principal Sum with the rescinded conversion shares returned to Regen.

As of March 31, 2024, $0 of the principal amount of the Note remains outstanding and all accrued interest has been paid.

On October 8,2021 the Company entered into an agreement with Dr. Brian Koos, MD PhD whereby Dr. Brian Koos would provide services to the Company consisting of :

a) Reviewing existing publications on research being conducted on Checkpoint NR2F6.

b) Identifying the most promising applications for the Company’s technology

c) Drafting a “white paper” on results for 1(b)

d) Making introductions to known experts in appropriate fields identified in 1(b).

Dr. Brian Koos is to be paid compensated $117,000 as total consideration for performing the abovementioned tasks. During the quarter ended December 31, 2021 Dr. Brian Koos was paid the amount of $80,275 and during the quarter ended June 30, 2022 Dr. Brian Koos was paid $36,975. Dr. Brian Koos is the brother of David Koos the Chairman and Chief Executive Officer of the Company.

As of March 31, 2024 the Company is indebted to David R. Koos the Company’s sole officer and director in the amount of $710. $710 lent to the Company by Koos is due and payable at the demand of the holder and bear simple interest at a rate of 15% per annum.

On January 13, 2022 Regen Biopharma, Inc. entered into a sublease agreement with BST Partners (“BST”) whereby Regen Biopharma, Inc. would sublet office space located at 4700 Spring Street, Suite 304, La Mesa, California 91942 from BST on a month to month basis for $5,000 per month beginning January 14, 2022.

BST Partners is controlled by David Koos who serves as the sole officer and director of Regen Biopharma, Inc.

XML 25 R14.htm IDEA: XBRL DOCUMENT v3.24.1.u1
STOCKHOLDERS’ EQUITY
6 Months Ended
Mar. 31, 2024
Equity [Abstract]  
STOCKHOLDERS’ EQUITY

NOTE 7. STOCKHOLDERS’ EQUITY

The stockholders’ equity section of the Company contains the following classes of capital stock as of March 31, 2024:

Common stock, $ 0.0001 par value; 5,800,000,000 shares authorized: 4,114,622 shares issued and outstanding.

With respect to each matter submitted to a vote of stockholders of the Corporation, each holder of Common Stock shall be entitled to cast that number of votes which is equivalent to the number of shares of Common Stock owned by such holder times one (1).

On any voluntary or involuntary liquidation, dissolution or winding up of the Corporation, the holders of the Common Stock shall receive, out of assets legally available for distribution to the Company’s stockholders, a ratable share in the assets of the Corporation.

Preferred Stock, $0.0001 par value, 800,000,000 shares authorized of which 600,000 is designated as Series AA Preferred Stock: 34 shares issued and outstanding as of March 31, 2024, 739,000,000 is designated Series A Preferred Stock of which 409,551 shares are outstanding as of March 31, 2024, 60,000,000 is designated Series M Preferred Stock of which 29,338 shares are outstanding as of March 31, 2024, and 20,000 is designated Series NC stock of which 15,007 shares are outstanding as of March 31, 2024.

The abovementioned shares authorized pursuant to the Company’s certificate of incorporation may be issued from time to time without prior approval of the shareholders. The Board of Directors of the Company shall have the full authority permitted by law to establish one or more series and the number of shares constituting each such series and to fix by resolution full or limited, multiple or fractional, or no voting rights, and such designations, preferences, qualifications, restrictions, options, conversion rights and other special or relative rights of any series of the Stock that may be desired.


Series AA Preferred Stock

On September 15, 2014 the Company filed a CERTIFICATE OF DESIGNATION (“Certificate of Designations”) with the Nevada Secretary of State setting forth the preferences rights and limitations of a newly authorized series of preferred stock designated and known as “Series AA Preferred Stock” (hereinafter referred to as “Series AA Preferred Stock”).

The Board of Directors of the Company have authorized 600,000 shares of the Series AA Preferred Stock, par value $0.0001. With respect to each matter submitted to a vote of stockholders of the Corporation, each holder of Series AA Preferred Stock shall be entitled to cast that number of votes which is equivalent to the number of shares of Series AA Preferred Stock owned by such holder times seven (7). Except as otherwise required by law holders of Common Stock, other series of Preferred issued by the Corporation, and Series AA Preferred Stock shall vote as a single class on all matters submitted to the stockholders.

Series A Preferred Stock

On January 15, 2015 the Company filed a CERTIFICATE OF DESIGNATION (“Certificate of Designations”) with the Nevada Secretary of State setting forth the preferences rights and limitations of a newly authorized series of preferred stock designated and known as “Series A Preferred Stock” (hereinafter referred to as “Series A Preferred Stock”).

The Board of Directors of the Company have authorized 739,000,000 shares of the Series A Preferred Stock, par value $0.0001. With respect to each matter submitted to a vote of stockholders of the Corporation, each holder of Series A Preferred Stock shall be entitled to cast that number of votes which is equivalent to the number of shares of Series A Preferred Stock owned by such holder times one . Except as otherwise required by law holders of Common Stock, other series of Preferred issued by the Corporation, and Series A Preferred Stock shall vote as a single class on all matters submitted to the stockholders.

Holders of the Series A Preferred Stock will be entitled to receive, when, as and if declared by the board of directors of the Company (the “Board”) out of funds legally available therefore, non-cumulative cash dividends of $0.01 per quarter. In the event any dividends are declared or paid or any other distribution is made on or with respect to the Common Stock , the holders of Series A Preferred Stock as of the record date established by the Board for such dividend or distribution on the Common Stock shall be entitled to receive, as additional dividends (the “Additional Dividends”) an amount (whether in the form of cash, securities or other property) equal to the amount (and in the form) of the dividends or distribution that such holder would have received had each share of the Series A Preferred Stock been one share of the Common Stock, such Additional Dividends to be payable on the same payment date as the payment date for the Common Stock.

Upon any liquidation, dissolution, or winding up of the Company, whether voluntary or involuntary (collectively, a “Liquidation”), before any distribution or payment shall be made to any of the holders of Common Stock or any other series of preferred stock, the holders of Series A Preferred Stock shall be entitled to receive out of the assets of the Company, whether such assets are capital, surplus or earnings, an amount equal to $0.01 per share of Series A Preferred (the “Liquidation Amount”) plus all declared and unpaid dividends thereon, for each share of Series A Preferred held by them.

If, upon any Liquidation, the assets of the Company shall be insufficient to pay the Liquidation Amount, together with declared and unpaid dividends thereon, in full to all holders of Series A Preferred, then the entire net assets of the Company shall be distributed among the holders of the Series A Preferred, ratably in proportion to the full amounts to which they would otherwise be respectively entitled and such distributions may be made in cash or in property taken at its fair value (as determined in good faith by the Board), or both, at the election of the Board. 

On January 10, 2017 Regen Biopharma, Inc. (“Regen”) filed a CERTIFICATE OF DESIGNATION (“Certificate of Designations”) with the Nevada Secretary of State setting forth the preferences rights and limitations of a newly authorized series of preferred stock designated and known as “Series M Preferred Stock” (hereinafter referred to as “Series M Preferred Stock”).


The Board of Directors of Regen have authorized 60,000,000 shares of the Series M Preferred Stock, par value $0.0001. With respect to each matter submitted to a vote of stockholders of Regen, each holder of Series M Preferred Stock shall be entitled to cast that number of votes which is equivalent to the number of shares of Series M Preferred Stock owned by such holder times one. Except as otherwise required by law holders of Common Stock, other series of Preferred issued by Regen, and Series M Preferred Stock shall vote as a single class on all matters submitted to the stockholders.

The holders of Series M Preferred Stock shall be entitled receive dividends, when, as and if declared by the Board of Directors in accordance with Nevada Law, in its discretion, from funds legally available therefore

On any voluntary or involuntary liquidation, dissolution or winding up of Regen, the holders of the Series M Preferred Stock shall receive, out of assets legally available for distribution to Regen’s stockholders, a ratable share in the assets of Regen.

On March 26, 2021 Regen Biopharma, Inc. ( “Regen”) filed a CERTIFICATE OF DESIGNATION (“Certificate of Designations”) with the Nevada Secretary of State setting forth the preferences rights and limitations of a newly authorized series of preferred stock designated and known as Nonconvertible Series NC Preferred Stock (hereinafter referred to as “Series NC Preferred Stock”).

The Board of Directors of Regen have authorized 20,000 shares of the Series NC Preferred Stock, par value $0.0001. With respect to each matter submitted to a vote of stockholders of Regen, each holder of Series NC Preferred Stock shall be entitled to cast that number of votes which is equivalent to the number of shares of Series NC Preferred Stock owned by such holder times 334. Except as otherwise required by law holders of Common Stock, other series of Preferred issued by Regen, and Series NC Preferred Stock shall vote as a single class on all matters submitted to the stockholders.

The holders of Series NC Preferred Stock shall be entitled receive dividends, when, as and if declared by the Board of Directors in accordance with Nevada Law, in its discretion, from funds legally available therefore

On any voluntary or involuntary liquidation, dissolution or winding up of Regen, the holders of the Series NC Preferred Stock shall receive, out of assets legally available for distribution to Regen’s stockholders, a ratable share in the assets of Regen. 

XML 26 R15.htm IDEA: XBRL DOCUMENT v3.24.1.u1
INVESTMENT SECURITIES, RELATED PARTY
6 Months Ended
Mar. 31, 2024
Investment Securities Related Party  
INVESTMENT SECURITIES, RELATED PARTY

NOTE 8. INVESTMENT SECURITIES, RELATED PARTY

On June 11, 2018 Regen Biopharma, Inc. was paid a property dividend consisting of 470,588 of the common shares of Zander Therapeutics, Inc.

On November 29, 2018 the Company accepted 725,000 shares of the Series M Preferred stock of Zander Therapeutics, Inc. in satisfaction of prepaid rent and accrued interest owed to the Company collectively amounting to $13,124.

On March 31, 2024 the Company revalued 470,588 of the common shares of Zander Therapeutics, Inc. and 725,000 shares of the Series M Preferred stock of Zander Therapeutics, Inc. based on the following inputs:

     
Fair Value of Intellectual Property  $300,000 
Prepaid Expenses   65,661 
Due from Employee   0 
Note Receivable   40,000 
Accrued Interest Receivable   35,000 
Investment Securities   258,255 
Convertible Note Receivable   10,000 
Accounts Payable   30,563 
Notes Payable   400,000 
Accrued Expenses Related Parties   162,011 
Notes Payable Related Party   0 
Accrued Expenses   647,072 
Enterprise Value   1,948,562 
Less: Total Debt   (1,239,646)
Portion of Enterprise Value Attributable to Shareholders   708,916 
Fair Value Per Share  $0.0155 

The abovementioned constitute the Company’s sole related party investment securities as of March 31, 2024.

As of March 31, 2024:

                           
470,588 Common Shares of Zander Therapeutics, Inc.
             
  Basis       Fair Value      

Total Unrealized Gains

      Net Unrealized Gain or (Loss) realized during the quarter ended March 31, 2024  
$ 5,741     $ 6,496     $ 755     $ (0 )

 

725,000 Series M Preferred of Zander Therapeutics, Inc.
             
  Basis       Fair Value       Total Unrealized Loss       Net Unrealized Gain or (Loss) realized during the quarter  ended March 31, 2024  
$ 13,124     $ 11,238     $ (1,866 )    $ (0 ) 

XML 27 R16.htm IDEA: XBRL DOCUMENT v3.24.1.u1
STOCK TRANSACTIONS
6 Months Ended
Mar. 31, 2024
Stock Transactions  
STOCK TRANSACTIONS

NOTE 9. STOCK TRANSACTIONS

On January 3, 2024 the Company issued 94,883 common shares for cash consideration of $39,638.

On January 10, 2024 the Company issued 82,643 common shares for cash consideration of $44,297.

On February 2, 2024 the Company issued 40,229 common shares for cash consideration of $19,614.

On February 21, 2024 the Company issued 52,569 common shares for cash consideration of $32,362.

On March 6, 2024 the Company issued 44,503 common shares for cash consideration of $25,282.

On March 20, 2024 the Company issued 49,230 common shares for cash consideration of $26,781.

XML 28 R17.htm IDEA: XBRL DOCUMENT v3.24.1.u1
SUBSEQUENT EVENTS
6 Months Ended
Mar. 31, 2024
Subsequent Events [Abstract]  
SUBSEQUENT EVENTS

NOTE 10. SUBSEQUENT EVENTS

On April 3, 2024 the Company issued 52,763 common shares for cash consideration of $25,326.

XML 29 R18.htm IDEA: XBRL DOCUMENT v3.24.1.u1
ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)
6 Months Ended
Mar. 31, 2024
Accounting Policies [Abstract]  
BASIS OF ACCOUNTING

A. BASIS OF ACCOUNTING

The financial statements have been prepared using the basis of accounting generally accepted in the United States of America. Under this basis of accounting, revenues are recorded as earned and expenses are recorded at the time liabilities are incurred. The Company has adopted a September 30 year-end.

PRINCIPLES OF CONSOLIDATION

B. PRINCIPLES OF CONSOLIDATION

The consolidated financial statements include the accounts of KCL Therapeutics, Inc., a Nevada corporation and wholly owned subsidiary of Regen. Significant inter-company transactions have been eliminated.

The Company analyzes the conversion feature of Convertible Notes for derivative accounting consideration under ASC 815-15 “Derivatives and Hedging. ASC 815-15 requires that the conversion features are bifurcated and separately accounted for as an embedded derivative contained in the Company’s convertible debt. The embedded derivative is carried on the balance sheet at fair value. Any unrealized change in fair value, as determined at each measurement period, is recorded as a component of the income statement and the associated carrying amount on the balance sheet is adjusted by the change. The Company values the embedded derivative using the Black-Scholes pricing model.

The Black Scholes pricing model used to determine the Derivative Liability on convertible notes issued by the Company in which an embedded derivative is recognized as of March 31, 2024 utilized the following inputs:

     
Schedule of Derivative liability   
Risk Free Interest Rate   5.39%
Expected Term   (1.70) – (4.08) Yrs 
Expected Volatility   932.98%
Expected Dividends    

INCOME TAXES

H. INCOME TAXES

The Company accounts for income taxes using the liability method prescribed by ASC 740, “Income Taxes.” Under this method, deferred tax assets and liabilities are determined based on the difference between the financial reporting and tax bases of assets and liabilities using enacted tax rates that will be in effect in the year in which the differences are expected to reverse. The Company records a valuation allowance to offset deferred tax assets if based on the weight of available evidence, it is more-likely-than-not that some portion, or all, of the deferred tax assets will not be realized. The effect on deferred taxes of a change in tax rates is recognized as income or loss in the period that includes the enactment date.

The Company applied the provisions of ASC 740-10-50, “Accounting For Uncertainty In Income Taxes”, which provides clarification related to the process associated with accounting for uncertain tax positions recognized in our financial statements. Audit periods remain open for review until the statute of limitations has passed. The completion of review or the expiration of the statute of limitations for a given audit period could result in an adjustment to the Company’s liability for income taxes. Any such adjustment could be material to the Company’s results of operations for any given quarterly or annual period based, in part, upon the results of operations for the given period. As of June 30, 2023 the Company had no uncertain tax positions, and will continue to evaluate for uncertain positions in the future.

The Company generated a deferred tax credit through net operating loss carry forward.  However, a valuation allowance of 100% has been established.

Interest and penalties on tax deficiencies recognized in accordance with ACS accounting standards are classified as income taxes in accordance with ASC Topic 740-10-50-19.

BASIC EARNINGS (LOSS) PER SHARE

I.  BASIC EARNINGS (LOSS) PER SHARE

The Financial Accounting Standards Board (FASB) issued Accounting Standards Codification (ASC) 260, “Earnings Per Share”, which specifies the computation, presentation and disclosure requirements for earnings (loss) per share for entities with publicly held common stock. ASC 260 requires the presentation of basic earnings (loss) per share and diluted earnings (loss) per share. The Company has adopted the provisions of ASC 260 effective from inception.

Basic net loss per share amounts is computed by dividing the net income by the weighted average number of common shares outstanding.

ADVERTISING


J. ADVERTISING

Costs associated with advertising are charged to expense as incurred. Advertising expenses were $0 for the quarters ended March 31, 2023 and March 31, 2024.

NOTES RECEIVABLE

K. NOTES RECEIVABLE

Notes receivable are stated at cost, less impairment, if any.

REVENUE RECOGNITION

L. REVENUE RECOGNITION

Sales of products and related costs of products sold are recognized when: (i) persuasive evidence of an arrangement exists; (ii) delivery has occurred; (iii) the price is fixed or determinable; and (iv) collectability is reasonably assured. These terms are typically met upon the prepayment or invoicing and shipment of products.

The Company determines the amount and timing of royalty revenue based on its contractual agreements with intellectual property licensees. The Company recognizes royalty revenue when earned under the terms of the agreements and when the Company considers realization of payment to be probable. Where royalties are based on a percentage of licensee sales of royalty-bearing products, the Company recognizes royalty revenue by applying this percentage to the Company’s estimate of applicable licensee sales. The Company bases this estimate on an analysis of each licensee’s sales results. Where warranted, revenue from licensees for contractual obligations such as License Initiation Fees are recognized upon satisfaction of all conditions required to be satisfied in order for that revenue to have been earned by the Company.

INTEREST RECEIVABLE

M. INTEREST RECEIVABLE

Interest receivable is stated at cost, less impairment, if any.

XML 30 R19.htm IDEA: XBRL DOCUMENT v3.24.1.u1
ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
6 Months Ended
Mar. 31, 2024
Accounting Policies [Abstract]  
Schedule of Derivative liability
     
Schedule of Derivative liability   
Risk Free Interest Rate   5.39%
Expected Term   (1.70) – (4.08) Yrs 
Expected Volatility   932.98%
Expected Dividends    
XML 31 R20.htm IDEA: XBRL DOCUMENT v3.24.1.u1
NOTES PAYABLE (Tables)
6 Months Ended
Mar. 31, 2024
Debt Disclosure [Abstract]  
Notes payable related party
       
    As of March 31, 2024
David Koos   $ 710  
Total:   $ 710  
Schedule of non related party
       
Bostonia Partners, Inc   $ 100.000  
Total:   $ 100,000  
XML 32 R21.htm IDEA: XBRL DOCUMENT v3.24.1.u1
INVESTMENT SECURITIES, RELATED PARTY (Tables)
6 Months Ended
Mar. 31, 2024
Investment Securities Related Party  
Dividend income
     
Fair Value of Intellectual Property  $300,000 
Prepaid Expenses   65,661 
Due from Employee   0 
Note Receivable   40,000 
Accrued Interest Receivable   35,000 
Investment Securities   258,255 
Convertible Note Receivable   10,000 
Accounts Payable   30,563 
Notes Payable   400,000 
Accrued Expenses Related Parties   162,011 
Notes Payable Related Party   0 
Accrued Expenses   647,072 
Enterprise Value   1,948,562 
Less: Total Debt   (1,239,646)
Portion of Enterprise Value Attributable to Shareholders   708,916 
Fair Value Per Share  $0.0155 
Comprehensive income
                           
470,588 Common Shares of Zander Therapeutics, Inc.
             
  Basis       Fair Value      

Total Unrealized Gains

      Net Unrealized Gain or (Loss) realized during the quarter ended March 31, 2024  
$ 5,741     $ 6,496     $ 755     $ (0 )

 

725,000 Series M Preferred of Zander Therapeutics, Inc.
             
  Basis       Fair Value       Total Unrealized Loss       Net Unrealized Gain or (Loss) realized during the quarter  ended March 31, 2024  
$ 13,124     $ 11,238     $ (1,866 )    $ (0 ) 

XML 33 R22.htm IDEA: XBRL DOCUMENT v3.24.1.u1
ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details)
6 Months Ended
Mar. 31, 2024
Property, Plant and Equipment [Line Items]  
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Risk Free Interest Rate 5.39%
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Volatility Rate 932.98%
Minimum [Member]  
Property, Plant and Equipment [Line Items]  
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Term 1 year 8 months 12 days
Maximum [Member]  
Property, Plant and Equipment [Line Items]  
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Term 4 years 29 days
XML 34 R23.htm IDEA: XBRL DOCUMENT v3.24.1.u1
ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative)
6 Months Ended
Mar. 31, 2024
USD ($)
Accounting Policies [Abstract]  
Effective Income Tax Rate Reconciliation, Change in Deferred Tax Assets Valuation Allowance, Percent 100.00%
Advertising Expense $ 0
XML 35 R24.htm IDEA: XBRL DOCUMENT v3.24.1.u1
GOING CONCERN (Details Narrative) - USD ($)
3 Months Ended 128 Months Ended
Sep. 12, 2023
Mar. 31, 2024
Dec. 31, 2023
Mar. 31, 2023
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]        
Net loss since inception       $ 20,221,096
Common Stock [Member]        
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]        
Share price $ 1.25      
Common Stock [Member] | Coventry Enterprises L L C [Member]        
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]        
Shares Issued, Price Per Share $ 1.50      
Equity Line Agreement [Member]        
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]        
Stock Repurchased During Period, Value $ 10,000,000      
[custom:CommonStocksParOrStatedValuePerShare-0] $ 0.0001      
Equity Line Agreement [Member] | Common Stock [Member]        
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]        
Stock Issued During Period, Shares, New Issues 125,000 364,057 244,199  
Sale of Stock, Number of Shares Issued in Transaction 1,126,954      
Stock Issued During Period, Value, New Issues   $ 187,937 $ 212,296  
XML 36 R25.htm IDEA: XBRL DOCUMENT v3.24.1.u1
NOTES PAYABLE (Details) - Related Party [Member]
Mar. 31, 2024
USD ($)
Short-Term Debt [Line Items]  
Notes Payable $ 710
David Koos [Member]  
Short-Term Debt [Line Items]  
Notes Payable $ 710
XML 37 R26.htm IDEA: XBRL DOCUMENT v3.24.1.u1
NOTES PAYABLE (Details 1) - Nonrelated Party [Member]
Mar. 31, 2024
USD ($)
Short-Term Debt [Line Items]  
Notes Payable $ 100,000
Bostonia [Member]  
Short-Term Debt [Line Items]  
Notes Payable $ 100.000
XML 38 R27.htm IDEA: XBRL DOCUMENT v3.24.1.u1
NOTES PAYABLE (Details Narrative) - USD ($)
6 Months Ended
Sep. 12, 2023
Mar. 31, 2024
Sep. 30, 2023
Debt Instrument [Line Items]      
Notes Payable, Noncurrent   $ 143,685 $ 149,614
Unsecured Promissory Note [Member]      
Debt Instrument [Line Items]      
Debt Instrument Issued Principal $ 175,000    
[custom:OriginalIssueDiscount] 26,250    
[custom:GuaranteedInterest] 26,250    
[custom:GuaranteedInterestOnPrincipalAmountDue] $ 28,750    
Notes Payable, Noncurrent   160,000  
David Koos [Member]      
Debt Instrument [Line Items]      
Long-Term Debt, Gross   $ 710  
Debt Instrument, Interest Rate During Period   15.00%  
Bostonia [Member] | Due And Payable March 102024 [Member]      
Debt Instrument [Line Items]      
Long-Term Debt, Gross   $ 48,500  
Debt Instrument, Interest Rate During Period   10.00%  
XML 39 R28.htm IDEA: XBRL DOCUMENT v3.24.1.u1
CONVERTIBLE NOTES PAYABLE (Details Narrative)
Mar. 31, 2024
USD ($)
Convertible Note; March 8, 2016  
Short-Term Debt [Line Items]  
Convertible Notes Payable, Current $ 100,000
Cash issued for convertible note $ 100,000
Debt Instrument, Interest Rate, Effective Percentage 8.00%
Notes Payable, Current $ 100,000
Convertible Note; April 6, 2016  
Short-Term Debt [Line Items]  
Convertible Notes Payable, Current 50,000
Cash issued for convertible note $ 50,000
Debt Instrument, Interest Rate, Effective Percentage 800.00%
Notes Payable, Current $ 50,000
October 312016 [Member]  
Short-Term Debt [Line Items]  
Notes Payable, Current 50,000
Convertible Note; May 5, 2017  
Short-Term Debt [Line Items]  
Convertible Notes Payable, Current 200,000
Cash issued for convertible note $ 200,000
Debt Instrument, Interest Rate, Effective Percentage 1000.00%
Notes Payable, Current $ 200,000
Derivative Liability, Current 800,000
Convertible Note; December 20, 2017  
Short-Term Debt [Line Items]  
Convertible Notes Payable, Current 100,000
Cash issued for convertible note $ 100,000
Debt Instrument, Interest Rate, Effective Percentage 1000.00%
Notes Payable, Current $ 100,000
Derivative Liability, Current 400,000
Convertible Note; October 3, 2017  
Short-Term Debt [Line Items]  
Convertible Notes Payable, Current 50,000
Cash issued for convertible note $ 50,000
Debt Instrument, Interest Rate, Effective Percentage 1000.00%
Notes Payable, Current $ 50,000
Derivative Liability, Current $ 200,000
XML 40 R29.htm IDEA: XBRL DOCUMENT v3.24.1.u1
RELATED PARTY TRANSACTIONS (Details Narrative)
Mar. 31, 2024
USD ($)
Related Party [Member]  
Short-Term Debt [Line Items]  
Notes Payable, Related Parties, Current $ 710
Convertible Note; September 30, 2018  
Short-Term Debt [Line Items]  
Convertible Notes Payable, Current 350,000
Notes Payable, Related Parties, Current 0
David Koos [Member]  
Short-Term Debt [Line Items]  
Long-Term Debt, Gross 710
David Koos [Member] | Related Party [Member]  
Short-Term Debt [Line Items]  
Notes Payable, Related Parties, Current $ 710
XML 41 R30.htm IDEA: XBRL DOCUMENT v3.24.1.u1
STOCKHOLDERS’ EQUITY (Details Narrative) - $ / shares
Mar. 31, 2024
Sep. 30, 2023
Class of Stock [Line Items]    
Common Stock, Shares Authorized 5,800,000,000 5,800,000,000
Common Stock, Shares, Outstanding 4,114,622 3,506,366
Preferred Stock, Par or Stated Value Per Share $ 0.0001 $ 0.0001
Preferred Stock, Shares Authorized 800,000,000 800,000,000
Series AA Preferred Stock    
Class of Stock [Line Items]    
Preferred Stock, Par or Stated Value Per Share $ 0.0001 $ 0.0001
Preferred Stock, Shares Authorized 600,000 600,000
Preferred Stock, Shares Outstanding 34 34
Series A Preferred Stock [Member]    
Class of Stock [Line Items]    
Preferred Stock, Shares Authorized 739,000,000 739,000,000
Preferred Stock, Shares Outstanding 409,551 409,551
Series M Preferred Stock [Member]    
Class of Stock [Line Items]    
Preferred Stock, Par or Stated Value Per Share $ 0.0001 $ 0.0001
Preferred Stock, Shares Authorized 60,000,000 60,000,000
Preferred Stock, Shares Outstanding 29,338 29,338
Series N C [Member]    
Class of Stock [Line Items]    
Preferred Stock, Par or Stated Value Per Share $ 0.0001 $ 0.0001
Preferred Stock, Shares Authorized 20,000 20,000
Preferred Stock, Shares Outstanding 15,007 15,007
XML 42 R31.htm IDEA: XBRL DOCUMENT v3.24.1.u1
INVESTMENT SECURITIES, RELATED PARTY (Details) - USD ($)
Mar. 31, 2024
Sep. 30, 2023
Prepaid Expense, Current $ 200 $ 0
Accounts Payable, Current 29,798 $ 29,674
Series M Preferred Stock [Member] | Zander Therapeutics    
Fair Value of Intellectual Property 300,000  
Prepaid Expense, Current 65,661  
Due from Employees 0  
Receivables, Net, Current 40,000  
Accrued Investment Income Receivable 35,000  
Investments 258,255  
Convertible Note Receivable 10,000  
Accounts Payable, Current 30,563  
Notes Payables 400,000  
Accrued Expenses, Related Party 162,011  
Notes Payable, Related Parties, Current 0  
Accrued Liabilities, Current 647,072  
Enterprise Value 1,948,562  
Debt, Current (1,239,646)  
Portion of Enterprise Value attributable to Shareholders $ 708,916  
Fair Value per share $ 0.0155  
XML 43 R32.htm IDEA: XBRL DOCUMENT v3.24.1.u1
INVESTMENT SECURITIES, RELATED PARTY (Details 1) - Zander Therapeutics
6 Months Ended
Mar. 31, 2024
USD ($)
Common Stock [Member]  
Investment Securities, Basis $ 5,741
Investment Securities, Fair Value 6,496
Investment Securities, Total Unrealized Gain 755
Investment Securities, net Unrealized Gain or (Loss) realized (0)
Series M Preferred Stock [Member]  
Investment Securities, Basis 13,124
Investment Securities, Fair Value 11,238
Investment Securities, Total Unrealized Gain (1,866)
Investment Securities, net Unrealized Gain or (Loss) realized $ (0)
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INVESTMENT SECURITIES, RELATED PARTY (Details Narrative) - Zander Therapeutics - USD ($)
1 Months Ended 6 Months Ended
Jun. 11, 2018
Nov. 29, 2018
Mar. 31, 2024
Number Of Shares Issued For Property Dividend 470,588   470,588
Series M Preferred Stock [Member]      
Number Of Shares Issued In Satisfaction Of Prepaid Rent And Accrued Interest   725,000 725,000
Shares Issued In Satisfaction Of Prepaid Rent And Accrued Interest Value   $ 13,124  
XML 45 R34.htm IDEA: XBRL DOCUMENT v3.24.1.u1
STOCK TRANSACTIONS (Details Narrative) - USD ($)
Apr. 03, 2024
Mar. 31, 2024
Mar. 20, 2024
Mar. 06, 2024
Feb. 21, 2024
Feb. 02, 2024
Jan. 10, 2024
Jan. 03, 2024
Sep. 30, 2023
Common Stock, Value, Issued $ 25,326 $ 412 $ 26,781 $ 25,282 $ 32,362 $ 19,614 $ 44,297 $ 39,638 $ 352
Common Stock [Member]                  
Common Stock, Shares, Issued 52,763   49,230 44,503 52,569 40,229 82,643 94,883  
XML 46 R35.htm IDEA: XBRL DOCUMENT v3.24.1.u1
SUBSEQUENT EVENTS (Details Narrative) - USD ($)
Apr. 03, 2024
Mar. 31, 2024
Mar. 20, 2024
Mar. 06, 2024
Feb. 21, 2024
Feb. 02, 2024
Jan. 10, 2024
Jan. 03, 2024
Sep. 30, 2023
Common Stock, Value, Issued $ 25,326 $ 412 $ 26,781 $ 25,282 $ 32,362 $ 19,614 $ 44,297 $ 39,638 $ 352
Common Stock [Member]                  
Common Stock, Shares, Issued 52,763   49,230 44,503 52,569 40,229 82,643 94,883  
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NV 45-5192997 4700 Spring Street St 304 La Mesa CA 91942 619 722-5505 No No Non-accelerated Filer true false 4114622 false 78115 121037 39723 0 0 200 0 5000 10000 123037 131037 17733 222580 17733 222580 140770 353617 29798 29674 49210 95710 4241 4241 342416 342588 1256630 1256630 41423 41423 1000 1000 20000 20000 1528451 1591731 0 15126 1400000 1400000 499880 499880 0 10000 5173049 5308003 143685 149614 143685 149614 5316734 5457617 0.0001 0.0001 5800000000 5800000000 4114622 3506366 412 352 0.0001 0.0001 800000000 800000000 40 40 739000000 739000000 409551 409551 0.0001 0.0001 600000 600000 34 34 0.0001 0.0001 60000000 29338 60000000 29338 0.0001 0.0001 20000 20000 15007 15007 14308349 13908141 736326 736326 -20221096 -19748863 -5175963 -5104000 140770 353617 31640 31640 63280 63280 27425 27425 54849 54849 59065 59065 118129 118129 40133 36446 87661 131959 9387 18660 21806 27398 93400 67800 200300 471480 17215 15000 32215 30000 160135 137906 341981 660837 -101071 -78842 -223852 -542708 17063 12085 34828 29444 -4339 -8706 -204847 35949 2151755 1150 -21402 23864 -248380 2123460 -122473 -54978 -472233 1580752 -122473 -54978 -472233 1391061 -0.03 -0.03 -0.12 0.41 3941013 1656429 3831431 3364578 40 0 2 352 3 13908141 -19748863 736326 -5104000 16710 2 22724 22726 35785 4 46088 46091 31732 3 38202 38205 33989 3 32626 32629 43297 4 38097 38101 82686 8 34535 34543 -349760 -349760 40 0 2 376 3 14120412 -20098623 736326 -5241463 94883 9 39629 39638 82643 8 44288 44297 40229 4 19609 19614 52569 5 32356 32362 44503 4 25278 25282 49230 5 26776 26781 -122473 -122473 40 0 2 413 3 14308349 -20221096 736326 -5175963 28 0 335 3 12132620 -20905369 736326 -8036059 6667 1 299999 300000 70114 7 761493 761500 35012 4 380258 380262 11279 1 25368 25369 1112 0 48372 48372 1635730 1635730 40 0 337 3 13648107 -19269640 736326 -4884827 15201 2 -2 0 3593 15000 2 10048 10050 -54978 -54978 40 0 2 339 3 13658153 -19324617 736326 -4929755 -472233 1580752 -348372 8706 124 5248 39723 -175150 -171 29444 -5200 -13714 0 0 -2151755 -78407 -63280 -0 1150 -204847 -371657 -63504 -10000 -61500 100000 400234 328734 100000 -42923 36949 121037 51204 78114 87700 761500 25369 380262 <p id="xdx_806_eus-gaap--OrganizationConsolidationBasisOfPresentationBusinessDescriptionAndAccountingPoliciesTextBlock_zFmRIMEGLrYy" style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white"><b>NOTE 1. <span id="xdx_825_zp1fMn78Krff">ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">The Company was organized April 24, 2012 under the laws of the State of Nevada </span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">The Company intends to engage primarily in the development of regenerative medical applications which we intend to license from other entities up to the point of successful completion of Phase I and or Phase II clinical trials after which we would either attempt to sell or license those developed applications or, alternatively, advance the application further to Phase III clinical trials.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">The Company is currently engaged in actively identifying small molecules that inhibit or express NR2F6 leading to immune cell activation for oncology applications and immune cell suppression for autoimmune disease.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">The Company is in the early stages of development of its proposed products and therapies. The Company will be required to obtain approval from the FDA in order to market any of The Company’s products or therapies. No approval has been granted by the FDA for the marketing and sale of any of the Company’s products and therapies and no assurance may be given that any of the Company’s products or therapies will be granted such approval. The Company’s current plans include the development of regenerative medical applications up to the point of successful completion of Phase I and/ or Phase II clinical trials after which the Company would either attempt to sell or license those developed applications or, alternatively, advance the application further to Phase III clinical trials. The Company can provide no assurance that the Company will be able to sell or license any product or that, if such product is sold or licensed, such sale or license will be on terms favorable to the Company.</span></p> <p id="xdx_84C_eus-gaap--BasisOfAccountingPolicyPolicyTextBlock_zWyxJvGjnVb3" style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">A. <span id="xdx_86A_z5L6E0uV06Tz">BASIS OF ACCOUNTING</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">The financial statements have been prepared using the basis of accounting generally accepted in the United States of America. Under this basis of accounting, revenues are recorded as earned and expenses are recorded at the time liabilities are incurred. The Company has adopted a September 30 year-end.</span></p> <p id="xdx_84B_eus-gaap--ConsolidationPolicyTextBlock_zSDxh1rhkdJi" style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">B. <span id="xdx_865_zq8BnaxEFZHg">PRINCIPLES OF CONSOLIDATION</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">The consolidated financial statements include the accounts of KCL Therapeutics, Inc., a Nevada corporation and wholly owned subsidiary of Regen. Significant inter-company transactions have been eliminated.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">The Company analyzes the conversion feature of Convertible Notes for derivative accounting consideration under ASC 815-15 “Derivatives and Hedging. ASC 815-15 requires that the conversion features are bifurcated and separately accounted for as an embedded derivative contained in the Company’s convertible debt. The embedded derivative is carried on the balance sheet at fair value. Any unrealized change in fair value, as determined at each measurement period, is recorded as a component of the income statement and the associated carrying amount on the balance sheet is adjusted by the change. The Company values the embedded derivative using the Black-Scholes pricing model.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">The Black Scholes pricing model used to determine the Derivative Liability on convertible notes issued by the Company in which an embedded derivative is recognized as of March 31, 2024 utilized the following inputs:</span></p> <table cellpadding="0" cellspacing="0" id="xdx_881_eus-gaap--ScheduleOfDerivativeLiabilitiesAtFairValueTableTextBlock_zIcf9fk7bxgF" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details)"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span id="xdx_8BC_zIhnE9Km7WVs" style="display: none">Schedule of Derivative liability</span></td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">Schedule of Derivative liability</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="3" style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 70%; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">Risk Free Interest Rate</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 10%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 18%; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span id="xdx_90C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate_dp_c20231001__20240331_zWH9kdMnUSl_zfZEaOIZZy0B" title="Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Risk Free Interest Rate">5.39</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">Expected Term</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(<span id="xdx_908_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1_dtY_c20231001__20240331__srt--RangeAxis__srt--MinimumMember_zNj53BwDnzBG" title="Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Term">1.70</span>) – (<span id="xdx_90F_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1_dtY_c20231001__20240331__srt--RangeAxis__srt--MaximumMember_zDGCCnvztn2b" title="Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Term">4.08</span>) Yrs</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">Expected Volatility</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span id="xdx_905_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_dp_c20231001__20240331_zy9KF6FGm2IM" title="Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Volatility Rate">932.98</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">Expected Dividends</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif"></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif"></p> <p id="xdx_840_eus-gaap--IncomeTaxPolicyTextBlock_zLET8Bwer3Bx" style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">H. <span id="xdx_867_zqj4CcdXkuGF">INCOME TAXES</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company accounts for income taxes using the liability method prescribed by ASC 740, “Income Taxes.” Under this method, deferred tax assets and liabilities are determined based on the difference between the financial reporting and tax bases of assets and liabilities using enacted tax rates that will be in effect in the year in which the differences are expected to reverse. The Company records a valuation allowance to offset deferred tax assets if based on the weight of available evidence, it is more-likely-than-not that some portion, or all, of the deferred tax assets will not be realized. The effect on deferred taxes of a change in tax rates is recognized as income or loss in the period that includes the enactment date.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company applied the provisions of ASC 740-10-50, “Accounting For Uncertainty In Income Taxes”, which provides clarification related to the process associated with accounting for uncertain tax positions recognized in our financial statements. Audit periods remain open for review until the statute of limitations has passed. The completion of review or the expiration of the statute of limitations for a given audit period could result in an adjustment to the Company’s liability for income taxes. Any such adjustment could be material to the Company’s results of operations for any given quarterly or annual period based, in part, upon the results of operations for the given period. As of June 30, 2023 the Company had no uncertain tax positions, and will continue to evaluate for uncertain positions in the future.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company generated a deferred tax credit through net operating loss carry forward.  However, a valuation allowance of <span id="xdx_909_eus-gaap--EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance_dp_c20231001__20240331_zdhUPPxMGDDd" title="Effective Income Tax Rate Reconciliation, Change in Deferred Tax Assets Valuation Allowance, Percent">100</span>% has been established.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Interest and penalties on tax deficiencies recognized in accordance with ACS accounting standards are classified as income taxes in accordance with ASC Topic 740-10-50-19.</span></p> <p id="xdx_84B_eus-gaap--EarningsPerSharePolicyTextBlock_zysP9FjvOjtX" style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">I.  <span id="xdx_863_zxxiP8YSl4UH">BASIC EARNINGS (LOSS) PER SHARE</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Financial Accounting Standards Board (FASB) issued Accounting Standards Codification (ASC) 260, “Earnings Per Share”, which specifies the computation, presentation and disclosure requirements for earnings (loss) per share for entities with publicly held common stock. ASC 260 requires the presentation of basic earnings (loss) per share and diluted earnings (loss) per share. The Company has adopted the provisions of ASC 260 effective from inception.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Basic net loss per share amounts is computed by dividing the net income by the weighted average number of common shares outstanding.</span></p> <p id="xdx_842_eus-gaap--AdvertisingCostsPolicyTextBlock_zqzYjgHC54TB" style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white"><br/> J. <span id="xdx_861_zQlDBF6E1jVY">ADVERTISING</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">Costs associated with advertising are charged to expense as incurred. Advertising expenses were $<span id="xdx_90C_eus-gaap--AdvertisingExpense_pp0p0_c20231001__20240331_zE8Cju617o1E" title="Advertising Expense">0</span> for the quarters ended March 31, 2023 and March 31, 2024.</span></p> <p id="xdx_84B_eus-gaap--ReceivablesPolicyTextBlock_zkhw7Sr4p76E" style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">K. <span id="xdx_864_zM1Aa6yLYcPk">NOTES RECEIVABLE</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">Notes receivable are stated at cost, less impairment, if any.</span></p> <p id="xdx_841_eus-gaap--RevenueRecognitionPolicyTextBlock_zI5vMUbCL579" style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">L. <span id="xdx_862_zkdcAgT7Mltn">REVENUE RECOGNITION</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">Sales of products and related costs of products sold are recognized when: (i) persuasive evidence of an arrangement exists; (ii) delivery has occurred; (iii) the price is fixed or determinable; and (iv) collectability is reasonably assured. These terms are typically met upon the prepayment or invoicing and shipment of products.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">The Company determines the amount and timing of royalty revenue based on its contractual agreements with intellectual property licensees. The Company recognizes royalty revenue when earned under the terms of the agreements and when the Company considers realization of payment to be probable. Where royalties are based on a percentage of licensee sales of royalty-bearing products, the Company recognizes royalty revenue by applying this percentage to the Company’s estimate of applicable licensee sales. The Company bases this estimate on an analysis of each licensee’s sales results. Where warranted, revenue from licensees for contractual obligations such as License Initiation Fees are recognized upon satisfaction of all conditions required to be satisfied in order for that revenue to have been earned by the Company.</span></p> <p id="xdx_846_ecustom--InterestReceivablePolicyTextBlock_zhMhtmEaRV2O" style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">M. <span id="xdx_863_zcE7e2SDb1hl">INTEREST RECEIVABLE</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">Interest receivable is stated at cost, less impairment, if any.</span></p> <p id="xdx_84C_eus-gaap--BasisOfAccountingPolicyPolicyTextBlock_zWyxJvGjnVb3" style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">A. <span id="xdx_86A_z5L6E0uV06Tz">BASIS OF ACCOUNTING</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">The financial statements have been prepared using the basis of accounting generally accepted in the United States of America. Under this basis of accounting, revenues are recorded as earned and expenses are recorded at the time liabilities are incurred. The Company has adopted a September 30 year-end.</span></p> <p id="xdx_84B_eus-gaap--ConsolidationPolicyTextBlock_zSDxh1rhkdJi" style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">B. <span id="xdx_865_zq8BnaxEFZHg">PRINCIPLES OF CONSOLIDATION</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">The consolidated financial statements include the accounts of KCL Therapeutics, Inc., a Nevada corporation and wholly owned subsidiary of Regen. Significant inter-company transactions have been eliminated.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">The Company analyzes the conversion feature of Convertible Notes for derivative accounting consideration under ASC 815-15 “Derivatives and Hedging. ASC 815-15 requires that the conversion features are bifurcated and separately accounted for as an embedded derivative contained in the Company’s convertible debt. The embedded derivative is carried on the balance sheet at fair value. Any unrealized change in fair value, as determined at each measurement period, is recorded as a component of the income statement and the associated carrying amount on the balance sheet is adjusted by the change. The Company values the embedded derivative using the Black-Scholes pricing model.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">The Black Scholes pricing model used to determine the Derivative Liability on convertible notes issued by the Company in which an embedded derivative is recognized as of March 31, 2024 utilized the following inputs:</span></p> <table cellpadding="0" cellspacing="0" id="xdx_881_eus-gaap--ScheduleOfDerivativeLiabilitiesAtFairValueTableTextBlock_zIcf9fk7bxgF" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details)"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span id="xdx_8BC_zIhnE9Km7WVs" style="display: none">Schedule of Derivative liability</span></td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">Schedule of Derivative liability</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="3" style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 70%; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">Risk Free Interest Rate</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 10%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 18%; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span id="xdx_90C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate_dp_c20231001__20240331_zWH9kdMnUSl_zfZEaOIZZy0B" title="Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Risk Free Interest Rate">5.39</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">Expected Term</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(<span id="xdx_908_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1_dtY_c20231001__20240331__srt--RangeAxis__srt--MinimumMember_zNj53BwDnzBG" title="Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Term">1.70</span>) – (<span id="xdx_90F_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1_dtY_c20231001__20240331__srt--RangeAxis__srt--MaximumMember_zDGCCnvztn2b" title="Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Term">4.08</span>) Yrs</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">Expected Volatility</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span id="xdx_905_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_dp_c20231001__20240331_zy9KF6FGm2IM" title="Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Volatility Rate">932.98</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">Expected Dividends</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif"></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif"></p> <table cellpadding="0" cellspacing="0" id="xdx_881_eus-gaap--ScheduleOfDerivativeLiabilitiesAtFairValueTableTextBlock_zIcf9fk7bxgF" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details)"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span id="xdx_8BC_zIhnE9Km7WVs" style="display: none">Schedule of Derivative liability</span></td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">Schedule of Derivative liability</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="3" style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 70%; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">Risk Free Interest Rate</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 10%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 18%; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span id="xdx_90C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate_dp_c20231001__20240331_zWH9kdMnUSl_zfZEaOIZZy0B" title="Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Risk Free Interest Rate">5.39</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">Expected Term</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(<span id="xdx_908_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1_dtY_c20231001__20240331__srt--RangeAxis__srt--MinimumMember_zNj53BwDnzBG" title="Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Term">1.70</span>) – (<span id="xdx_90F_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1_dtY_c20231001__20240331__srt--RangeAxis__srt--MaximumMember_zDGCCnvztn2b" title="Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Term">4.08</span>) Yrs</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">Expected Volatility</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span id="xdx_905_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_dp_c20231001__20240331_zy9KF6FGm2IM" title="Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Volatility Rate">932.98</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">Expected Dividends</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif"></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> </table> 0.0539 P1Y8M12D P4Y29D 9.3298 <p id="xdx_840_eus-gaap--IncomeTaxPolicyTextBlock_zLET8Bwer3Bx" style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">H. <span id="xdx_867_zqj4CcdXkuGF">INCOME TAXES</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company accounts for income taxes using the liability method prescribed by ASC 740, “Income Taxes.” Under this method, deferred tax assets and liabilities are determined based on the difference between the financial reporting and tax bases of assets and liabilities using enacted tax rates that will be in effect in the year in which the differences are expected to reverse. The Company records a valuation allowance to offset deferred tax assets if based on the weight of available evidence, it is more-likely-than-not that some portion, or all, of the deferred tax assets will not be realized. The effect on deferred taxes of a change in tax rates is recognized as income or loss in the period that includes the enactment date.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company applied the provisions of ASC 740-10-50, “Accounting For Uncertainty In Income Taxes”, which provides clarification related to the process associated with accounting for uncertain tax positions recognized in our financial statements. Audit periods remain open for review until the statute of limitations has passed. The completion of review or the expiration of the statute of limitations for a given audit period could result in an adjustment to the Company’s liability for income taxes. Any such adjustment could be material to the Company’s results of operations for any given quarterly or annual period based, in part, upon the results of operations for the given period. As of June 30, 2023 the Company had no uncertain tax positions, and will continue to evaluate for uncertain positions in the future.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company generated a deferred tax credit through net operating loss carry forward.  However, a valuation allowance of <span id="xdx_909_eus-gaap--EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance_dp_c20231001__20240331_zdhUPPxMGDDd" title="Effective Income Tax Rate Reconciliation, Change in Deferred Tax Assets Valuation Allowance, Percent">100</span>% has been established.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Interest and penalties on tax deficiencies recognized in accordance with ACS accounting standards are classified as income taxes in accordance with ASC Topic 740-10-50-19.</span></p> 1 <p id="xdx_84B_eus-gaap--EarningsPerSharePolicyTextBlock_zysP9FjvOjtX" style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">I.  <span id="xdx_863_zxxiP8YSl4UH">BASIC EARNINGS (LOSS) PER SHARE</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Financial Accounting Standards Board (FASB) issued Accounting Standards Codification (ASC) 260, “Earnings Per Share”, which specifies the computation, presentation and disclosure requirements for earnings (loss) per share for entities with publicly held common stock. ASC 260 requires the presentation of basic earnings (loss) per share and diluted earnings (loss) per share. The Company has adopted the provisions of ASC 260 effective from inception.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Basic net loss per share amounts is computed by dividing the net income by the weighted average number of common shares outstanding.</span></p> <p id="xdx_842_eus-gaap--AdvertisingCostsPolicyTextBlock_zqzYjgHC54TB" style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white"><br/> J. <span id="xdx_861_zQlDBF6E1jVY">ADVERTISING</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">Costs associated with advertising are charged to expense as incurred. Advertising expenses were $<span id="xdx_90C_eus-gaap--AdvertisingExpense_pp0p0_c20231001__20240331_zE8Cju617o1E" title="Advertising Expense">0</span> for the quarters ended March 31, 2023 and March 31, 2024.</span></p> 0 <p id="xdx_84B_eus-gaap--ReceivablesPolicyTextBlock_zkhw7Sr4p76E" style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">K. <span id="xdx_864_zM1Aa6yLYcPk">NOTES RECEIVABLE</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">Notes receivable are stated at cost, less impairment, if any.</span></p> <p id="xdx_841_eus-gaap--RevenueRecognitionPolicyTextBlock_zI5vMUbCL579" style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">L. <span id="xdx_862_zkdcAgT7Mltn">REVENUE RECOGNITION</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">Sales of products and related costs of products sold are recognized when: (i) persuasive evidence of an arrangement exists; (ii) delivery has occurred; (iii) the price is fixed or determinable; and (iv) collectability is reasonably assured. These terms are typically met upon the prepayment or invoicing and shipment of products.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">The Company determines the amount and timing of royalty revenue based on its contractual agreements with intellectual property licensees. The Company recognizes royalty revenue when earned under the terms of the agreements and when the Company considers realization of payment to be probable. Where royalties are based on a percentage of licensee sales of royalty-bearing products, the Company recognizes royalty revenue by applying this percentage to the Company’s estimate of applicable licensee sales. The Company bases this estimate on an analysis of each licensee’s sales results. Where warranted, revenue from licensees for contractual obligations such as License Initiation Fees are recognized upon satisfaction of all conditions required to be satisfied in order for that revenue to have been earned by the Company.</span></p> <p id="xdx_846_ecustom--InterestReceivablePolicyTextBlock_zhMhtmEaRV2O" style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">M. <span id="xdx_863_zcE7e2SDb1hl">INTEREST RECEIVABLE</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">Interest receivable is stated at cost, less impairment, if any.</span></p> <p id="xdx_80A_eus-gaap--NewAccountingPronouncementsAndChangesInAccountingPrinciplesTextBlock_zRcrVcHT90yP" style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white"><b>NOTE 2. <span id="xdx_823_zxz1nT4WIEtL">RECENT ACCOUNTING PRONOUNCEMENTS</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">In June 2014, the Financial Accounting Standards Board issued Accounting Standards Update No. 2014-10, which eliminated certain financial reporting requirements of companies previously identified as “Development Stage Entities” (Topic 915). The amendments in this ASU simplify accounting guidance by removing all incremental financial reporting requirements for development stage entities. The amendments also reduce data maintenance and, for those entities subject to audit, audit costs by eliminating the requirement for development stage entities to present inception-to-date information in the statements of income, cash flows, and shareholder equity. Early application of each of the amendments is permitted for any annual reporting period or interim period for which the entity’s financial statements have not yet been issued (public business entities) or made available for issuance (other entities). Upon adoption, entities will no longer present or disclose any information required by Topic 915. The Company has adopted this standard.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">As of the fiscal year ending September 30, 2019 the Company has adopted Accounting Standards Update 2014-09, Revenue from Contracts with Customers (Topic 606). The guidance in this Update supersedes the revenue recognition requirements in Topic 605, Revenue Recognition, and most industry-specific guidance throughout the Industry Topics of the Codification.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">The core principle of the guidance is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. To achieve that core principle, an entity should apply the following steps: Step 1: Identify the contract(s) with a customer. Step 2: Identify the performance obligations in the contract. Step 3: Determine the transaction price. Step 4: Allocate the transaction price to the performance obligations in the contract. Step 5: Recognize revenue when (or as) the entity satisfies a performance obligation.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">In June 2014, FASB issued Accounting Standards Update (ASU) No. 2014-12 Compensation — Stock Compensation (Topic 718), Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period. A performance target in a share-based payment that affects vesting and that could be achieved after the requisite service period should be accounted for as a performance condition under Accounting Standards Codification (ASC) 718, Compensation — Stock Compensation. As a result, the target is not reflected in the estimation of the award’s grant date fair value. Compensation cost would be recognized over the required service period, if it is probable that the performance condition will be achieved. The guidance is effective for annual periods beginning after 15 December 2015 and interim periods within those annual periods. Early adoption is permitted. The Company has reviewed the applicable ASU and has not, at the current time, quantified the effects of this pronouncement, however it believes that there will be no material effect on the consolidated financial statements.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In August 2014, FASB issued Accounting Standards Update (ASU) No. 2014-15 Preparation of Financial Statements – Going Concern (Subtopic 205-40), Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern. Under generally accepted accounting principles (GAAP), continuation of a reporting entity as a going concern is presumed as the basis for preparing financial statements unless and until the entity’s liquidation becomes imminent. Preparation of financial statements under this presumption is commonly referred to as the going concern basis of accounting. If and when an entity’s liquidation becomes imminent, financial statements should be prepared under the liquidation basis of accounting in accordance with Subtopic 205-30, Presentation of Financial Statements—Liquidation Basis of Accounting. Even when an entity’s liquidation is not imminent, there may be conditions or events that raise substantial doubt about the entity’s ability to continue as a going concern. In those situations, financial statements should continue to be prepared under the going concern basis of accounting, but the amendments in this Update should be followed to determine whether to disclose information about the relevant conditions and events. The amendments in this Update are effective for the annual period ending after December 15, 2016, and for annual periods and interim periods thereafter. Early application is permitted. The Company will evaluate the going concern considerations in this ASU, however, at the current period, management does not believe that it has met the conditions which would subject these financial statements for additional disclosure.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On January 31, 2013, the FASB issued Accounting Standards Update [ASU] 2013-01, entitled Clarifying the Scope of Disclosures about Offsetting Assets and Liabilities. The guidance in ASU 2013-01 amends the requirements in the FASB Accounting Standards Codification [FASB ASC] Topic 210, entitled Balance Sheet. The ASU 2013-01 amendments to FASB ASC 210 clarify that ordinary trade receivables and receivables in general are not within the scope of ASU 2011-11, entitled Disclosure about Offsetting Assets and Liabilities, where that ASU amended the guidance in FASB ASC 210. As those disclosures now are modified with the ASU 2013-01 amendments, the FASB ASC 210 balance sheet offsetting disclosures now clearly are applicable only where reporting entities are involved with bifurcated embedded derivatives, repurchase agreements, reverse repurchase agreements, and securities borrowing and lending transactions that either are offset using the FASB ASC 210 or 815 requirements, or that are subject to enforceable master netting arrangements or similar agreements. ASU 2013-01 is effective for annual reporting periods beginning on or after January 1, 2013, and interim periods within those annual periods. The adoption of this ASU is not expected to have a material impact on our financial statements.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> On February 28, 2013, the FASB issued Accounting Standards Update [ASU] 2013-04, entitled Obligations Resulting from Joint and Several Liability Arrangements for Which the Total Amount of the Obligation Is Fixed at the Reporting Date. The ASU 2013-04 amendments add to the guidance in FASB Accounting Standards Codification [FASB ASC] Topic 405, entitled Liabilities and require reporting entities to measure obligations resulting from certain joint and several liability arrangements where the total amount of the obligation is fixed as of the reporting date, as the sum of the following:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The amount the reporting entity agreed to pay on the basis of its arrangement among co-obligors.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Any additional amounts the reporting entity expects to pay on behalf of its co-obligors.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">While early adoption of the amended guidance is permitted, for public companies, the guidance is required to be implemented in fiscal years, and interim periods within those years, beginning after December 15, 2013. The amendments need to be implemented retrospectively to all prior periods presented for obligations resulting from joint and several liability arrangements that exist at the beginning of the year of adoption. The adoption of ASU 2013-04 is not expected to have a material effect on the Company’s operating results or financial position.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On April 22, 2013, the FASB issued Accounting Standards Update [ASU] 2013-07, entitled Liquidation Basis of Accounting. With ASU 2013-07, the FASB amends the guidance in the FASB Accounting Standards Codification [FASB ASC] Topic 205, entitled Presentation of Financial Statements. The amendments serve to clarify when and how reporting entities should apply the liquidation basis of accounting. The guidance is applicable to all reporting entities, whether they are public or private companies or not-for-profit entities. The guidance also provides principles for the recognition of assets and liabilities and disclosures, as well as related financial statement presentation requirements. The requirements in ASU 2013-07 are effective for annual reporting periods beginning after December 15, 2013, and interim reporting periods within those annual periods. Reporting entities are required to apply the requirements in ASU 2013-07 prospectively from the day that liquidation becomes imminent. Early adoption is permitted. The adoption of ASU 2013-07 is not expected to have a material effect on the Company’s operating results or financial position.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">In January 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (ASU) 2016-01, which amends the guidance in U.S. GAAP on the classification and measurement of financial instruments. Changes to the current guidance primarily affect the accounting for equity investments, financial liabilities under the fair value option, and the presentation and disclosure requirements for financial instruments. In addition, the ASU clarifies guidance related to the valuation allowance assessment when recognizing deferred tax assets resulting from unrealized losses on available-for-sale debt securities. The new standard is effective for fiscal years and interim periods beginning after December 15, 2017, and upon adoption, an entity should apply the amendments by means of a cumulative-effect adjustment to the balance sheet at the beginning of the first reporting period in which the guidance is effective. Early adoption is not permitted except for the provision to record fair value changes for financial liabilities under the fair value option resulting from instrument-specific credit risk in other comprehensive income. The Company adopted ASU 2016-01 as of the fiscal year ending September 30, 2019.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">In August 2020, FASB issued ASU 2020-06, Accounting for Convertible Instruments and Contracts in an Entity; Own Equity (“ASU 2020-06”), as part of its overall simplification initiative to reduce costs and complexity of applying accounting standards while maintaining or improving the usefulness of the information provided to users of financial statements. Among other changes, the new guidance removes from GAAP separation models for convertible debt that require the convertible debt to be separated into a debt and equity component, unless the conversion feature is required to be bifurcated and accounted for as a derivative or the debt is issued at a substantial premium. As a result, after adopting the guidance, entities will no longer separately present such embedded conversion features in equity, and will instead account for the convertible debt wholly as debt. The new guidance also requires use of the “if-converted” method when calculating the dilutive impact of convertible debt on earnings per share, which is consistent with the Company’s current accounting treatment under the current guidance. The guidance is effective for financial statements issued for fiscal years beginning after December 15, 2021, and interim periods within those fiscal years, with early adoption permitted, but only at the beginning of the fiscal year. The Company has adopted ASU 2020-06 as of the Fiscal Year ending September 30, 2022.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">A variety of proposed or otherwise potential accounting standards are currently under study by standard setting organizations and various regulatory agencies. Due to the tentative and preliminary nature of those proposed standards, the Company’s management has not determined whether implementation of such standards would be material to its financial statements.</span></p> <p id="xdx_808_eus-gaap--SubstantialDoubtAboutGoingConcernTextBlock_zI9iQWYqZKbz" style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white"><b>NOTE 3. <span id="xdx_827_zl1AK7mX7Fpt">GOING CONCERN</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">The accompanying financial statements have been prepared assuming that the Company will continue as a going concern. The Company generated net losses of $<span id="xdx_906_ecustom--NetIncomeLossSinceInception_pp0p0_c20120724__20230331_zo9gHYM2LvVW">20,221,096</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">  during the period from April 24, 2012 (inception) through March 31, 2024. This condition raises substantial doubt about the Company’s ability to continue as a going concern. The Company’s continuation as a going concern is dependent on its ability to meet its obligations, to obtain additional financing as may be required and ultimately to attain profitability. The financial statements do not include any adjustments that might result from the outcome of this uncertainty.</span></p><p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On September 12, 2023 the Company entered into a common stock purchase agreement (the “Equity Line Agreement”) with Coventry Enterprises LLC (“Coventry”) providing for an equity financing facility (the “Equity Line”). The Equity Line Agreement provides that upon the terms and subject to the conditions in the Equity Line Agreement, Coventry is committed to purchase up to Ten Million Dollars ($<span title="Number of shares purchased, value"><span id="xdx_900_eus-gaap--StockRepurchasedDuringPeriodValue_c20230911__20230912__us-gaap--TypeOfArrangementAxis__custom--EquityLineAgreementMember_zxCmDa2vLvj0">10,000,000</span></span>) of shares of common stock, $<span title="Common stock, par value"><span id="xdx_905_ecustom--CommonStocksParOrStatedValuePerShare_iI_c20230912__us-gaap--TypeOfArrangementAxis__custom--EquityLineAgreementMember_zwWz7eT9CW8T">0.0001</span></span> par value per share (the “Common Stock”), over the 36-month term of the Equity Line Agreement (the “Total Commitment”).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Under the terms of the Equity Line Agreement, Coventry will not be obligated to purchase shares of Common Stock unless and until certain conditions are met, including but not limited to a Registration Statement on Form S-1 (the “Registration Statement”) becoming effective which registers Coventry’s resale of any Common Stock purchased by Coventry under the Equity Line.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">From time to time over the 36-month term of the Commitment Period ( as such term is defined in the Equity Line Agreement) the Company, in its sole discretion, may provide Coventry with a draw down notice (each, a “Draw Down Notice”), to purchase a specified number of shares of Common Stock (each, a “Draw Down Amount Requested”), subject to the limitations discussed below. The actual amount of proceeds the Company will receive pursuant to each Draw Down Notice (each, a “Draw Down Amount”) is to be determined by multiplying the Draw Down Amount Requested by the applicable purchase price. The purchase price of each share of Common Stock equals <span title="Common stock equals percentage">80</span>% of the lowest trading price of the Common Stock during the ten business days prior to the Draw Down Notice date (the “Pricing Period”).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The maximum number of shares of Common Stock requested to be purchased pursuant to any single Draw Down Notice cannot exceed the lesser of (i) <span title="Common stock requested percentage">200</span>% of the Average Daily Traded Value (as such term is defined in the Equity Line Agreement) during the ten business days immediately preceding the Drawdown Notice Date or (ii) $<span title="Average daily traded value">250,000</span>. The Company is prohibited from delivering a Draw Down Notice if the sale of shares of Common Stock pursuant to the Draw Down Notice would cause the Company to issue and sell to Coventry or Coventry to acquire or purchase an aggregate number of shares of Common Stock that would result in Coventry beneficially owning more than 4.99% of the issued and outstanding shares of Common Stock of the Company.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company issued Coventry <span title="Number of shares issued, shares"><span id="xdx_905_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20230911__20230912__us-gaap--TypeOfArrangementAxis__custom--EquityLineAgreementMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonStockMember_zAJMcPtZRhjI">125,000</span></span> shares of its Common Stock in connection with the Equity Line Agreement.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Coventry has agreed that:</span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: justify"> <td style="font: 10pt Times New Roman, Times, Serif; width: 15pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 5pt"></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">for so long as the market price of the Company’s common stock is above $<span id="xdx_90C_eus-gaap--SharePrice_iI_c20230912__us-gaap--StatementClassOfStockAxis__us-gaap--CommonStockMember_zncW0UnQuus9" title="Share price">1.25</span> per share and</span></td> </tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: justify"> <td style="font: 10pt Times New Roman, Times, Serif; width: 15pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 5pt"></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">the Company is in full compliance with all agreements entered into with Coventry and</span></td> </tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: justify"> <td style="font: 10pt Times New Roman, Times, Serif; width: 15pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(c)</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 5pt"></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">and the Company has not issued any common shares at a per share price below $<span title="Share price"><span id="xdx_904_eus-gaap--SharesIssuedPricePerShare_iI_c20230912__dei--LegalEntityAxis__custom--CoventryEnterprisesLLCMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonStockMember_zwya8u5EUZWx">1.50</span></span>, Coventry will agree to a leak out provision and will not sell more than <span title="Resale of stock, shares">10,000</span> shares of the Commitment shares without permission from the Issuer.</span></td> </tr></table> <p style="font: 10pt Times New Roman, Times, Serif; text-align: right; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In connection with the Equity Line Agreement the Company also entered into a Registration Rights Agreement, dated September 12, 2023 with Coventry (the “Registration Rights Agreement”), pursuant to which the Company agreed to register for resale under the Securities Act of 1933 shares issuable in accordance with the Equity Line Agreement as well as the aforementioned <span title="Number of shares issued, shares"><span id="xdx_90C_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20230911__20230912__us-gaap--TypeOfArrangementAxis__custom--EquityLineAgreementMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonStockMember_z3890FbH7kaB">125,000</span></span> common shares issued in connection with the Equity Line Agreement in a Registration Statement to be filed with the Securities and Exchange Commission. Up to <span title="Resale of stock, shares"><span id="xdx_90B_eus-gaap--SaleOfStockNumberOfSharesIssuedInTransaction_c20230911__20230912__us-gaap--TypeOfArrangementAxis__custom--EquityLineAgreementMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonStockMember_zl1TsLJ4qMo7">1,126,954</span></span> Shares of Common Stock were registered for resale under the Securities Act of 1933 pursuant to the Registration Rights Agreement.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During the quarter ended December 31, 2023 the Company issued <span title="Number of shares issued, shares"><span id="xdx_90F_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20231001__20231231__us-gaap--TypeOfArrangementAxis__custom--EquityLineAgreementMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonStockMember_zr6P26OKGytM">244,199</span></span> common shares pursuant to the Equity Line Agreement for aggregate cash consideration of $<span title="Number of shares issued, value"><span id="xdx_90B_eus-gaap--StockIssuedDuringPeriodValueNewIssues_c20231001__20231231__us-gaap--TypeOfArrangementAxis__custom--EquityLineAgreementMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonStockMember_zloceeiHAa3a">212,296</span></span>. During the Quarter ended March 31, 2024 the Company issued <span id="xdx_906_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20240101__20240331__us-gaap--TypeOfArrangementAxis__custom--EquityLineAgreementMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonStockMember_zYym7oVVHfZb">364,057</span> common shares pursuant to the Equity Line Agreement for aggregate cash consideration of $<span id="xdx_909_eus-gaap--StockIssuedDuringPeriodValueNewIssues_c20240101__20240331__us-gaap--TypeOfArrangementAxis__custom--EquityLineAgreementMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonStockMember_zztHgIMWTaxb">187,937</span>.</span></p> 20221096 10000000 0.0001 125000 1.25 1.50 125000 1126954 244199 212296 364057 187937 <p id="xdx_807_eus-gaap--DebtDisclosureTextBlock_zmg6tqhAQSjT" style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white"><b>NOTE 4. <span id="xdx_829_zKdY7vQCuP6x">NOTES PAYABLE</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">(a) RELATED PARTY</span></p> <table cellpadding="0" cellspacing="0" id="xdx_88E_eus-gaap--ScheduleOfDebtTableTextBlock_zmxk36w7c8eH" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - NOTES PAYABLE (Details)"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: white"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B4_zckw12Vt7Jfq"><span id="xdx_8BF_zr2mit5sQCYz" style="display: none">Notes payable related party</span></span></span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td colspan="3" style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>As of March 31, 2024</b></span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: #CCEEFF"> <td style="font: 10pt Times New Roman, Times, Serif; width: 71%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">David Koos</span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 9%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_98F_eus-gaap--NotesPayableCurrent_iI_pp0p0_c20240331__us-gaap--DebtInstrumentAxis__custom--DavidKoosMember__us-gaap--RelatedAndNonrelatedPartyStatusAxis__us-gaap--RelatedPartyMember_zrtQyUVio8Yy" style="font: 10pt Times New Roman, Times, Serif; width: 18%; text-align: right" title="Notes Payable"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">710</span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: white"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Total:</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_98A_eus-gaap--NotesPayableCurrent_iI_pp0p0_c20240331__us-gaap--RelatedAndNonrelatedPartyStatusAxis__us-gaap--RelatedPartyMember_zeLLSiNgrgDr" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Notes Payable"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">710</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">$<span id="xdx_90A_eus-gaap--DebtInstrumentCarryingAmount_pp0p0_c20240331__dei--LegalEntityAxis__custom--DavidKoosMember_zaVXt3dLTFNi" title="Long-Term Debt, Gross">710</span> lent to the Company by David Koos is due and payable at the demand of the holder and bears simple interest at a rate of <span id="xdx_907_eus-gaap--DebtInstrumentInterestRateDuringPeriod_pip0_dp_c20231001__20240331__dei--LegalEntityAxis__custom--DavidKoosMember_zJkW1LcPx6v_zVg1awkouWNm" title="Debt Instrument, Interest Rate During Period">15</span>% per annum.</span></p> <p style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b) NON RELATED PARTY As of March 31, 2024</span></p> <table cellpadding="0" cellspacing="0" id="xdx_882_eus-gaap--ScheduleOfRelatedPartyTransactionsTableTextBlock_zFR1G17Oi4GH" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - NOTES PAYABLE (Details 1)"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: white"> <td style="font: 10pt Times New Roman, Times, Serif"><span id="xdx_8B9_zoJgPY76KmRd" style="display: none">Schedule of non related party</span></td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: #CCEEFF"> <td style="font: 10pt Times New Roman, Times, Serif; width: 71%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Bostonia Partners, Inc</span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 9%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_98B_eus-gaap--NotesPayableCurrent_iI_pp0p0_c20240331__us-gaap--DebtInstrumentAxis__custom--BostoniaMember__us-gaap--RelatedAndNonrelatedPartyStatusAxis__us-gaap--NonrelatedPartyMember_zT874f7UnWzb" style="font: 10pt Times New Roman, Times, Serif; width: 18%; text-align: right" title="Notes Payable"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">100.000</span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: white"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Total:</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_982_eus-gaap--NotesPayableCurrent_iI_pp0p0_c20240331__us-gaap--RelatedAndNonrelatedPartyStatusAxis__us-gaap--NonrelatedPartyMember_zPDZLFtqCcj8" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Notes Payable"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">100,000</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">$<span id="xdx_907_eus-gaap--DebtInstrumentCarryingAmount_iI_pp0p0_c20240331__dei--LegalEntityAxis__custom--BostoniaMember__us-gaap--LongtermDebtTypeAxis__custom--DueAndPayableMarch102024Member_z5o3aykmaaTI">48,500</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white"> lent to the Company by Bostonia Partners, Inc is due and payable on March 10, 2024 and bears simple interest at a rate of <span id="xdx_90B_eus-gaap--DebtInstrumentInterestRateDuringPeriod_pip0_dp_c20231001__20240331__dei--LegalEntityAxis__custom--BostoniaMember__us-gaap--LongtermDebtTypeAxis__custom--DueAndPayableMarch102024Member_zYXHy12Q8byP">10</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">% per annum.</span></p><p style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Effective September 12, 2023 Coventry Enterprises purchased a 10% unsecured promissory Note (the “Note”) from the Company in the principal amount of $<span id="xdx_90F_eus-gaap-supplement--DebtInstrumentIssuedPrincipal_c20230911__20230912__us-gaap--DebtInstrumentAxis__custom--UnsecuredPromissoryNoteMember_zAsCoCNVFKc3">175,000</span> of which $<span id="xdx_90B_ecustom--OriginalIssueDiscount_c20230911__20230912__us-gaap--DebtInstrumentAxis__custom--UnsecuredPromissoryNoteMember_zVUam8itioes">26,250 </span>was retained by Coventry through an Original Issue Discount.</p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Note carries “Guaranteed Interest” on the principal amount at the rate of 10</span>% per annum for the eighteen-month term of the Note for an aggregate Guaranteed Interest $<span id="xdx_903_ecustom--GuaranteedInterest_c20230911__20230912__us-gaap--DebtInstrumentAxis__custom--UnsecuredPromissoryNoteMember_ze3cUUWdNnIU">26,250</span>. The Principal Amount and the Guaranteed Interest shall be due and payable in seven equal monthly payments of $<span id="xdx_901_ecustom--GuaranteedInterestOnPrincipalAmountDue_c20230911__20230912__us-gaap--DebtInstrumentAxis__custom--UnsecuredPromissoryNoteMember_zSd3e52ePIYg">28,750</span> commencing on August 12, 2024 and continuing on the 12th day of each month thereafter until paid in full not later than March 12, 2025(the “Maturity Date”).</p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Upon an Event of Default (as such term is defined in the Note) the Note shall become convertible, in whole or in part, into shares of Common Stock at the option of the Holder at price per share equivalent to 90% of the lowest per-share trading price for the 20 Trading Days preceding a Conversion Date.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Upon the event that while this Note has been outstanding for four months, the Company consummates another financing transaction or if the Company has an effective Regulation A Offering Statement then the Investor may choose to convert any amount up to the entire balance of the note including guaranteed interest into shares at the same offering price as the aforementioned financing transaction or the Regulation A Offering. The outstanding principal balance of the Note is $<span id="xdx_90E_eus-gaap--LongTermNotesPayable_iI_c20240331__us-gaap--DebtInstrumentAxis__custom--UnsecuredPromissoryNoteMember_zHawe7Fpey8">160,000</span> as of March 31, 2024.</span></p> <table cellpadding="0" cellspacing="0" id="xdx_88E_eus-gaap--ScheduleOfDebtTableTextBlock_zmxk36w7c8eH" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - NOTES PAYABLE (Details)"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: white"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B4_zckw12Vt7Jfq"><span id="xdx_8BF_zr2mit5sQCYz" style="display: none">Notes payable related party</span></span></span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td colspan="3" style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>As of March 31, 2024</b></span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: #CCEEFF"> <td style="font: 10pt Times New Roman, Times, Serif; width: 71%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">David Koos</span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 9%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_98F_eus-gaap--NotesPayableCurrent_iI_pp0p0_c20240331__us-gaap--DebtInstrumentAxis__custom--DavidKoosMember__us-gaap--RelatedAndNonrelatedPartyStatusAxis__us-gaap--RelatedPartyMember_zrtQyUVio8Yy" style="font: 10pt Times New Roman, Times, Serif; width: 18%; text-align: right" title="Notes Payable"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">710</span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: white"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Total:</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_98A_eus-gaap--NotesPayableCurrent_iI_pp0p0_c20240331__us-gaap--RelatedAndNonrelatedPartyStatusAxis__us-gaap--RelatedPartyMember_zeLLSiNgrgDr" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Notes Payable"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">710</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> </table> 710 710 710 0.15 <table cellpadding="0" cellspacing="0" id="xdx_882_eus-gaap--ScheduleOfRelatedPartyTransactionsTableTextBlock_zFR1G17Oi4GH" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - NOTES PAYABLE (Details 1)"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: white"> <td style="font: 10pt Times New Roman, Times, Serif"><span id="xdx_8B9_zoJgPY76KmRd" style="display: none">Schedule of non related party</span></td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: #CCEEFF"> <td style="font: 10pt Times New Roman, Times, Serif; width: 71%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Bostonia Partners, Inc</span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 9%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_98B_eus-gaap--NotesPayableCurrent_iI_pp0p0_c20240331__us-gaap--DebtInstrumentAxis__custom--BostoniaMember__us-gaap--RelatedAndNonrelatedPartyStatusAxis__us-gaap--NonrelatedPartyMember_zT874f7UnWzb" style="font: 10pt Times New Roman, Times, Serif; width: 18%; text-align: right" title="Notes Payable"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">100.000</span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: white"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Total:</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_982_eus-gaap--NotesPayableCurrent_iI_pp0p0_c20240331__us-gaap--RelatedAndNonrelatedPartyStatusAxis__us-gaap--NonrelatedPartyMember_zPDZLFtqCcj8" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Notes Payable"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">100,000</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> </table> 100.000 100000 48500 0.10 175000 26250 26250 28750 160000 <p id="xdx_809_ecustom--ConvertibleNotesPayableTextBlock_za2za14nIw8x" style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white"><b>NOTE 5. <span id="xdx_82A_zoo98osNSqmp">CONVERTIBLE NOTES PAYABLE</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">On March 8, 2016 (“Issue date”) the Company issued a Convertible Note (“Note”) in the face amount of $<span id="xdx_905_eus-gaap--ConvertibleNotesPayableCurrent_pp0p0_c20240331__us-gaap--DebtInstrumentAxis__custom--March82016Member_zxLeeEuzbpug" title="Convertible Notes Payable, Current">100,000</span> for consideration consisting of $<span id="xdx_906_ecustom--CashIssuedForConvertibleNote_pp0p0_c20240331__us-gaap--DebtInstrumentAxis__custom--March82016Member_zWfG9NQPA5pM" title="Cash issued for convertible note">100,000</span> cash. The Note pays simple interest in the amount of <span id="xdx_90F_eus-gaap--DebtInstrumentInterestRateEffectivePercentage_iI_pip0_dp_c20240331__us-gaap--DebtInstrumentAxis__custom--March82016Member_zoigCqnFWayb" title="Debt Instrument, Interest Rate, Effective Percentage">8</span>% per annum . The maturity of the Note is three years from the issue date.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">The Lender shall have the right from time to time to convert all or a part of the outstanding and unpaid principal amount of this Note into fully paid and non- assessable shares of Common Stock, as such Common Stock exists on the Issue Date, or any shares of capital stock or other securities of the Company into which such Common Stock shall hereafter be changed or reclassified pursuant to the following terms and conditions:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">(a) For the period beginning on the Issue Date and ending 365 days subsequent to the Issue Date (“Year 1”) a 50% discount to the lowest Trading Price (as defined below) for the Common Stock during the ten (10) Trading Day (as defined below) period ending on the latest complete Trading Day prior to the Conversion Date or $150 per share (whichever is greater).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">(b) For the period beginning one day subsequent to the final day of Year One and ending 365 days subsequent to Year One (“Year 2”) a 35% discount to the lowest Trading Price (as defined below) for the Common Stock during the ten (10) Trading Day (as defined below) period ending on the latest complete Trading Day prior to the Conversion Date or $150 per share (whichever is greater).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">(c) For the period beginning one day subsequent to the final day of Year 2 and ending 365 days subsequent to Year 2 (“Year 3”) a 25% discount to the lowest Trading Price (as defined below) for the Common Stock during the ten (10) Trading Day (as defined below) period ending on the latest complete Trading Day prior to the Conversion Date or $150 per share (whichever is greater).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">(d) “Trading Price” means the closing bid price on the Over-the-Counter Bulletin Board, or applicable trading market (the “OTCQB”) as reported by a reliable reporting service (“Reporting Service”) designated by the Lender (i.e. Bloomberg) or, if the OTCQB is not the principal trading market for such security, the closing bid price of such security on the principal securities exchange or trading market where such security is listed or traded or, if no closing bid price of such security is available in any of the foregoing manners, the average of the closing bid prices of any market makers for such security that are listed in the “pink sheets” by the National Quotation Bureau, Inc. If the Trading Price cannot be calculated for such security on such date in the manner provided above, the Trading Price shall be the fair market value as mutually determined by the Company and the Lender. “Trading Day” shall mean any day on which the Common Stock is tradable for any period on the OTCQB, or on the principal securities exchange or other securities market on which the Common Stock is then being traded. “Trading Volume” shall mean the number of shares traded on such Trading Day as reported by such Reporting Service. The Conversion Price shall be equitably adjusted for stock splits, stock dividends, rights offerings, combinations, recapitalization, reclassifications, extraordinary distributions and similar events by the Company relating to the Lender’s securities.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">The Company shall have the right, exercisable on not less than five (5) Trading Days prior written notice to the Lender, to prepay the outstanding Note in part or in full, including outstanding principal and accrued interest.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">Upon closing of a Transaction Event the Lender shall receive 0 .10% ( one tenth of one percent)of the consideration actually received by the Company from an unaffiliated third party as a result of the closing of a Transaction Event.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">“Transaction Event” shall mean either of:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a) The sale by the Company of the Company’s proprietary NR2F6 intellectual property to an unaffiliated third party</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b) The granting of a license by the Company to an unaffiliated third party granting that unaffiliated third party the right to develop and/or commercialize the Company’s proprietary NR2F6 intellectual property</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of March 31, 2024 $<span id="xdx_909_eus-gaap--NotesPayableCurrent_pp0p0_c20240331__us-gaap--DebtInstrumentAxis__custom--March82016Member_zV0dFfZcFM2U" title="Notes Payable, Current">100,000</span> of the principal amount of the Note remains outstanding.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On April 6, 2016 (“Issue date”) the Company issued a Convertible Note (“Note”) in the face amount of $<span id="xdx_906_eus-gaap--ConvertibleNotesPayableCurrent_pp0p0_c20240331__us-gaap--DebtInstrumentAxis__custom--April62016Member_z0OLZTDN13e8" title="Convertible Notes Payable, Current">50,000</span> for consideration consisting of $<span id="xdx_902_ecustom--CashIssuedForConvertibleNote_pp0p0_c20240331__us-gaap--DebtInstrumentAxis__custom--April62016Member_zqQHpMpQSVeP" title="Cash issued for convertible note">50,000</span> cash. The Note pays simple interest in the amount of <span id="xdx_905_eus-gaap--DebtInstrumentInterestRateEffectivePercentage_c20240331__us-gaap--DebtInstrumentAxis__custom--April62016Member_zrTF2Rm5pvfT" title="Debt Instrument, Interest Rate, Effective Percentage">8</span>% per annum . The maturity of the Note is three years from the issue date.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Lender shall have the right from time to time to convert all or a part of the outstanding and unpaid principal amount of this Note into fully paid and non- assessable shares of Common Stock, as such Common Stock exists on the Issue Date, or any shares of capital stock or other securities of the Company into which such Common Stock shall hereafter be changed or reclassified pursuant to the following terms and conditions:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a) For the period beginning on the Issue Date and ending 365 days subsequent to the Issue Date (“Year 1”) a 50% discount to the lowest Trading Price (as defined below) for the Common Stock during the ten (10) Trading Day (as defined below) period ending on the latest complete Trading Day prior to the Conversion Date or$150 per share (whichever is greater).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b) For the period beginning one day subsequent to the final day of Year One and ending 365 days subsequent to Year One (“Year 2”) a 35% discount to the lowest Trading Price (as defined below) for the Common Stock during the ten (10) Trading Day (as defined below) period ending on the latest complete Trading Day prior to the Conversion Date or $150 per share (whichever is greater).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(c) For the period beginning one day subsequent to the final day of Year 2 and ending 365 days subsequent to Year 2 (“Year 3”) a 25% discount to the lowest Trading Price (as defined below) for the Common Stock during the ten (10) Trading Day (as defined below) period ending on the latest complete Trading Day prior to the Conversion Date or $150 per share (whichever is greater).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(d) “Trading Price” means the closing bid price on the Over-the-Counter Bulletin Board, or applicable trading market (the “OTCQB”) as reported by a reliable reporting service (“Reporting Service”) designated by the Lender (i.e. Bloomberg) or, if the OTCQB is not the principal trading market for such security, the closing bid price of such security on the principal securities exchange or trading market where such security is listed or traded or, if no closing bid price of such security is available in any of the foregoing manners, the average of the closing bid prices of any market makers for such security that are listed in the “pink sheets” by the National Quotation Bureau, Inc. If the Trading Price cannot be calculated for such security on such date in the manner provided above, the Trading Price shall be the fair market value as mutually determined by the Company and the Lender. “Trading Day” shall mean any day on which the Common Stock is tradable for any period on the OTCQB, or on the principal securities exchange or other securities market on which the Common Stock is then being traded. “Trading Volume” shall mean the number of shares traded on such Trading Day as reported by such Reporting Service. The Conversion Price shall be equitably adjusted for stock splits, stock dividends, rights offerings, combinations, recapitalization, reclassifications, extraordinary distributions and similar events by the Company relating to the Lender’s securities.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><br/> The Company shall have the right, exercisable on not less than five (5) Trading Days prior written notice to the Lender, to prepay the outstanding Note in part or in full, including outstanding principal and accrued interest.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Upon closing of a Transaction Event the Lender shall receive 0 .10% ( one tenth of one percent) of the consideration actually received by the Company from an unaffiliated third party as a result of the closing of a Transaction Event.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">“Transaction Event” shall mean either of:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a) The sale by the Company of the Company’s proprietary NR2F6 intellectual property to an unaffiliated third party</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b) The granting of a license by the Company to an unaffiliated third party granting that unaffiliated third party the right to develop and/or commercialize the Company’s proprietary NR2F6 intellectual property</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of March 31, 2024 $<span id="xdx_900_eus-gaap--NotesPayableCurrent_pp0p0_c20240331__us-gaap--DebtInstrumentAxis__custom--April62016Member_zeXNts0dMSqs" title="Notes Payable, Current">50,000</span> of the principal amount of the Note remains outstanding.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On October 31, 2016 (“Issue date”) the Company issued a Convertible Note (“Note”) in the face amount of $50,000 for consideration consisting of $50,000 cash. The Note pays simple interest in the amount of 10% per annum . The maturity of the Note is two years from the issue date.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Lender shall have the right from time to time to convert all or a part of the outstanding and unpaid principal amount of this Note into fully paid and non- assessable shares of Common Stock and/or Series A Preferred Stock, as such Stock exists on the Issue Date, or any shares of capital stock or other securities of the Company into which such Stock shall hereafter be changed or reclassified at a conversion price of $18.75 per share.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company shall have the right, exercisable on not less than ten (10) Trading Days prior written notice to the Lender, to prepay the outstanding Note in part or in full, including outstanding principal and accrued interest.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of March 31, 2024 $<span id="xdx_909_eus-gaap--NotesPayableCurrent_iI_pp0p0_c20240331__us-gaap--DebtInstrumentAxis__custom--October312016Member_zaayq4sXD4VM">50,000</span> of the principal amount of the Note remains outstanding</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><br/> On May 5, 2017 (“Issue date”) the Company issued a Convertible Note (“Note”) in the face amount of $<span id="xdx_900_eus-gaap--ConvertibleNotesPayableCurrent_pp0p0_c20240331__us-gaap--DebtInstrumentAxis__custom--May52017Member_zTxvx0yfeOnB" title="Convertible Notes Payable, Current">200,000</span> for consideration consisting of $<span id="xdx_909_ecustom--CashIssuedForConvertibleNote_pp0p0_c20240331__us-gaap--DebtInstrumentAxis__custom--May52017Member_zgSzrVcGJ2MH" title="Cash issued for convertible note">200,000</span> cash. The Note pays simple interest in the amount of <span id="xdx_909_eus-gaap--DebtInstrumentInterestRateEffectivePercentage_c20240331__us-gaap--DebtInstrumentAxis__custom--May52017Member_zAEDyBzaD2tZ" title="Debt Instrument, Interest Rate, Effective Percentage">10</span>% per annum . The maturity of the Note is May 5, 2020. The Note is convertible into the Common Shares of Regen at a price per share ( “Conversion Price”) equivalent to the lower of (a) a 75% discount to the closing price of the common stock of the Company on the trading day immediately prior to the date a conversion notice is given by the Lender to Regen or (b) $375 per common share as of the date which is the earlier of:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(i) One day subsequent to the execution of an agreement to a transaction whose completion would result in a “Change of Control” of the Company. For purposes of this Note, a Change of Control shall be defined as any transaction or series of transactions, whether by merger, sale of substantially all of the assets, or sale or transfer of more than fifty percent (50%) of the outstanding stock of the relevant entity in which the members of the Board of Directors immediately preceding the closing of the Change of Control transaction no longer constitute a majority of the Board of Directors of the surviving entity following the closing of such transaction.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">ii) One day subsequent to the commencement, in compliance with applicable law, of a broad solicitation by a third party to purchase a majority percentage of the Company’s outstanding equity securities for a limited period of time contingent on shareholders of the Company tendering a fixed number of their equity securities (“Tender Offer”).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(iii) That date which is twenty four (24) months subsequent to the date of execution of this Note.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company shall have the right, exercisable on not less than ten (10) Trading Days prior written notice to the Lender, to prepay the outstanding Note in part or in full, including outstanding principal and accrued interest.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In the event that that the Company exercises its right to prepay the note, or if the Lender chooses not to convert the remaining amount of the note into Common Shares of the company, the Lender shall receive warrants equal to 10% of the Common shares it would have received had the Lender converted the remaining amount of the Note into Common shares of the Company. The warrants shall have a strike price of $75 per share.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The warrants shall be exercisable:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In the event that the Company exercises its right to Prepay the Note on or prior to the close of business on the three (3) month anniversary of the date that the Note shall have been prepaid by the Company(“Prepayment Date”)</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In the event , part of the outstanding and unpaid principal amount of this Note and any Accrued Interest remains outstanding on the Maturity Date of the Note, or prior to the close of business on the three (3) month anniversary of the Maturity Date of the Note</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of March 31, 2024 $<span id="xdx_90A_eus-gaap--NotesPayableCurrent_pp0p0_c20240331__us-gaap--DebtInstrumentAxis__custom--May52017Member_zTFYIV46VWdH" title="Notes Payable, Current">200,000</span> of the principal amount of the Note remains outstanding.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company analyzed the conversion feature of the Note for derivative accounting consideration under ASC 815-15 “Derivatives and Hedging” and determined that the embedded conversion feature should be classified as a liability due to their being no explicit limit to the number of shares to be delivered upon settlement of the above conversion features. ASC 815-15 requires that the conversion features are bifurcated and separately accounted for as an embedded derivative contained in the Company’s convertible debt. The embedded derivative is carried on the balance sheet at fair value. Any unrealized change in fair value, as determined at each measurement period, is recorded as a component of the income statement and the associated carrying amount on the balance sheet is adjusted by the change.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company values the embedded derivative using the Black-Scholes pricing model and a derivative liability of $<span id="xdx_90D_eus-gaap--DerivativeLiabilitiesCurrent_pp0p0_c20240331__us-gaap--DebtInstrumentAxis__custom--May52017Member_zOk11Xkq2SrF" title="Derivative Liability, Current">800,000</span> was recognized by the Company as of March 31, 2024.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On December 20, 2017 (“Issue date”) the Company issued a Convertible Note (“Note”) in the face amount of $<span id="xdx_90D_eus-gaap--ConvertibleNotesPayableCurrent_pp0p0_c20240331__us-gaap--DebtInstrumentAxis__custom--Dec2017Member_z5UNHr2Hc5Pi" title="Convertible Notes Payable, Current">100,000</span> for consideration consisting of $<span id="xdx_90A_ecustom--CashIssuedForConvertibleNote_pp0p0_c20240331__us-gaap--DebtInstrumentAxis__custom--Dec2017Member_zejCmzCJy2AN" title="Cash issued for convertible note">100,000</span> cash. The Note pays simple interest in the amount of <span id="xdx_905_eus-gaap--DebtInstrumentInterestRateEffectivePercentage_c20240331__us-gaap--DebtInstrumentAxis__custom--Dec2017Member_zMNa9XHjRC43" title="Debt Instrument, Interest Rate, Effective Percentage">10</span>% per annum. The maturity of the Note is December 20, 2020. The Note may be converted into the Common Shares of Regen at a price per share ( “Conversion Price”) equivalent to the lower of (a) a 75% discount to the closing price of the common stock of the Company on the trading day immediately prior to the date a conversion notice is given by the Lender to Regen or (b) $37.50 per common share as of the date which is the earlier of:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(i) One day subsequent to the execution of an agreement to a transaction whose completion would result in a “Change of Control” of the Company or KCL Therapeutics. For purposes of this Note, a Change of Control shall be defined as any transaction or series of transactions, whether by merger, sale of substantially all of the assets, or sale or transfer of more than fifty percent (50%) of the outstanding stock of the relevant entity in which the members of the Board of Directors immediately preceding the closing of the Change of Control transaction no longer constitute a majority of the Board of Directors of the surviving entity following the closing of such transaction.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(ii) One day subsequent to the commencement, in compliance with applicable law, of a broad solicitation by a third party to purchase a majority percentage of the Company’s outstanding equity securities for a limited period of time contingent on shareholders of the Company tendering a fixed number of their equity securities (“Tender Offer”).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(iv) One day subsequent to a “Transaction Event”)</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Transaction Event” shall mean either of:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a) The sale by the Company or by KCL Therapeutics , Inc. of the Company’s proprietary NR2F6 intellectual property to an unaffiliated third party</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b) The granting of a license by the Company or by KCL Therapeutics , Inc to an unaffiliated third party granting that unaffiliated third party the right to develop and/or commercialize the Company’s proprietary NR2F6 intellectual property</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(v) That date which is twenty four (24) months subsequent to the date of execution of this Note.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><br/> The Company shall have the right, exercisable on not less than ten (10) Trading Days prior written notice to the Lender, to prepay the outstanding Note in part or in full, including outstanding principal and accrued interest.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In the event that that the Company exercises its right to prepay the note, or if the Lender chooses not to convert the remaining amount of the note into Common Shares of the company, the Lender shall receive warrants equal to 10% of the Common shares it would have received had the Lender converted the remaining amount of the Note into Common shares of the Company. The warrants shall have a strike price of $37.5 per share.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The warrants shall be exercisable:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In the event that the Company exercises its right to Prepay the Note on or prior to the close of business on the three (3) month anniversary of the date that the Note shall have been prepaid by the Company (“Prepayment Date”)</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In the event , part of the outstanding and unpaid principal amount of this Note and any Accrued Interest remains outstanding on the Maturity Date of the Note, or prior to the close of business on the three (3) month anniversary of the Maturity Date of the Note</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of March 31, 2024 $<span id="xdx_905_eus-gaap--NotesPayableCurrent_pp0p0_c20240331__us-gaap--DebtInstrumentAxis__custom--Dec2017Member_zTCXEgVQzDJJ" title="Notes Payable, Current">100,000</span> of the principal amount of the Note remains outstanding.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company analyzed the conversion feature of the Note for derivative accounting consideration under ASC 815-15 “Derivatives and Hedging” and determined that the embedded conversion feature should be classified as a liability due to their being no explicit limit to the number of shares to be delivered upon settlement of the above conversion features. ASC 815-15 requires that the conversion features are bifurcated and separately accounted for as an embedded derivative contained in the Company’s convertible debt. The embedded derivative is carried on the balance sheet at fair value. Any unrealized change in fair value, as determined at each measurement period, is recorded as a component of the income statement and the associated carrying amount on the balance sheet is adjusted by the change.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company values the embedded derivative using the Black-Scholes pricing model and a derivative liability of $<span id="xdx_901_eus-gaap--DerivativeLiabilitiesCurrent_pp0p0_c20240331__us-gaap--DebtInstrumentAxis__custom--Dec2017Member_zH9KW7R3cF6y" title="Derivative Liability, Current">400,000</span> was recognized by the Company as of March 31, 2024.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On October 3, 2017 (“Issue date”) the Company issued a Convertible Note (“Note”) in the face amount of $<span id="xdx_904_eus-gaap--ConvertibleNotesPayableCurrent_pp0p0_c20240331__us-gaap--DebtInstrumentAxis__custom--Oct0317Member_zRUn4TuKMt76" title="Convertible Notes Payable, Current">50,000</span> for consideration consisting of $<span id="xdx_902_ecustom--CashIssuedForConvertibleNote_pp0p0_c20240331__us-gaap--DebtInstrumentAxis__custom--Oct0317Member_z0Rc7j3eCid6" title="Cash issued for convertible note">50,000</span> cash. The Note pays simple interest in the amount of <span id="xdx_906_eus-gaap--DebtInstrumentInterestRateEffectivePercentage_c20240331__us-gaap--DebtInstrumentAxis__custom--Oct0317Member_zw8LvDiyfDkf" title="Debt Instrument, Interest Rate, Effective Percentage">10</span>% per annum. The maturity of the Note is October 3, 2020. The Note may be converted into the Common Shares of Regen at a price per share ( “Conversion Price”) equivalent to the lower of (a) a 75% discount to the closing price of the common stock of the Company on the trading day immediately prior to the date a conversion notice is given by the Lender to Regen or (b) $37.5 per common share as of the date which is the earlier of:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(i) One day subsequent to the execution of an agreement to a transaction whose completion would result in a “Change of Control” of the Company or KCL Therapeutics. For purposes of this Note, a Change of Control shall be defined as any transaction or series of transactions, whether by merger, sale of substantially all of the assets, or sale or transfer of more than fifty percent (50%) of the outstanding stock of the relevant entity in which the members of the Board of Directors immediately preceding the closing of the Change of Control transaction no longer constitute a majority of the Board of Directors of the surviving entity following the closing of such transaction.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(ii) One day subsequent to the commencement, in compliance with applicable law, of a broad solicitation by a third party to purchase a majority percentage of the Company’s outstanding equity securities for a limited period of time contingent on shareholders of the Company tendering a fixed number of their equity securities (“Tender Offer”).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(iv) One day subsequent to a “Transaction Event”)</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Transaction Event” shall mean either of:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a) The sale by the Company or by KCL Therapeutics , Inc. of the Company’s proprietary NR2F6 intellectual property to an unaffiliated third party</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b) The granting of a license by the Company or by KCL Therapeutics , Inc to an unaffiliated third party granting that unaffiliated third party the right to develop and/or commercialize the Company’s proprietary NR2F6 intellectual property</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(v) That date which is twenty four (24) months subsequent to the date of execution of this Note.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company shall have the right, exercisable on not less than ten (10) Trading Days prior written notice to the Lender, to prepay the outstanding Note in part or in full, including outstanding principal and accrued interest.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In the event that that the Company exercises its right to prepay the note, or if the Lender chooses not to convert the remaining amount of the note into Common Shares of the company, the Lender shall receive warrants equal to 10% of the Common shares it would have received had the Lender converted the remaining amount of the Note into Common shares of the Company. The warrants shall have a strike price of $37.5 per share.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The warrants shall be exercisable:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In the event that the Company exercises its right to Prepay the Note on or prior to the close of business on the three (3) month anniversary of the date that the Note shall have been prepaid by the Company (“Prepayment Date”)</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In the event , part of the outstanding and unpaid principal amount of this Note and any Accrued Interest remains outstanding on the Maturity Date of the Note, or prior to the close of business on the three (3) month anniversary of the Maturity Date of the Note</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of March 31, 2024, $<span id="xdx_908_eus-gaap--NotesPayableCurrent_pp0p0_c20240331__us-gaap--DebtInstrumentAxis__custom--Oct0317Member_zkGiO9WfQN8J" title="Notes Payable, Current">50,000</span> of the principal amount of the Note remains outstanding.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company analyzed the conversion feature of the Note for derivative accounting consideration under ASC 815-15 “Derivatives and Hedging” and determined that the embedded conversion feature should be classified as a liability due to their being no explicit limit to the number of shares to be delivered upon settlement of the above conversion features. ASC 815-15 requires that the conversion features are bifurcated and separately accounted for as an embedded derivative contained in the Company’s convertible debt. The embedded derivative is carried on the balance sheet at fair value. Any unrealized change in fair value, as determined at each measurement period, is recorded as a component of the income statement and the associated carrying amount on the balance sheet is adjusted by the change.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company values the embedded derivative using the Black-Scholes pricing model and a derivative liability of $<span id="xdx_901_eus-gaap--DerivativeLiabilitiesCurrent_pp0p0_c20240331__us-gaap--DebtInstrumentAxis__custom--Oct0317Member_zycyvmtzGOUk">200,000 </span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">was recognized by the Company as of March 31, 2024.</span></p> 100000 100000 0.08 100000 50000 50000 8 50000 50000 200000 200000 10 200000 800000 100000 100000 10 100000 400000 50000 50000 10 50000 200000 <p id="xdx_80E_eus-gaap--RelatedPartyTransactionsDisclosureTextBlock_zHMYgfJdE2bH" style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 6. <span id="xdx_82C_zv9BUOk4KCPQ">RELATED PARTY TRANSACTIONS</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On June 23, 2015 the Company entered into an agreement (“Agreement”) with Zander Therapeutics, Inc. ( “Zander”) whereby The Company granted to Zander an exclusive worldwide right and license for the development and commercialization of certain intellectual property controlled by The Company (” License IP”) for non-human veterinary therapeutic use for a term of fifteen years. Zander is under common control with the Company.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Pursuant to the Agreement, Zander shall pay to The Company one-time, non-refundable, upfront payment of one hundred thousand US dollars ($100,000) as a license initiation fee which must be paid within 90 days of June 23, 2015 and an annual non-refundable payment of one hundred thousand US dollars ($100,000) on July 15th, 2016 and each subsequent anniversary of the effective date of the Agreement.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The abovementioned payments may be made, at Zander’s discretion, in cash or newly issued common stock of Zander.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Pursuant to the Agreement, Zander shall pay to The Company royalties equal to four percent (4%) of the Net Sales , as such term is defined in the Agreement, of any Licensed Products, as such term is defined in the Agreement, in a Quarter.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Pursuant to the Agreement, Zander will pay The Company ten percent (10%) of all consideration (in the case of in-kind consideration, at fair market value as monetary consideration) received by Zander from sublicensees ( excluding royalties from sublicensees based on Net Sales of any Licensed Products for which The Company receives payment pursuant to the terms and conditions of the Agreement).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Zander is obligated pay to The Company minimum annual royalties of ten thousand US dollars ($10,000) payable per year on each anniversary of the Effective Date of this Agreement, commencing on the second anniversary of June 23, 2015. This minimum annual royalty is only payable to the extent that royalty payments made during the preceding 12-month period do not exceed ten thousand US dollars ($10,000).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Agreement may be terminated by The Company:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">If Zander has not sold any Licensed Product by ten years of the effective date of the Agreement or Zander has not sold any Licensed Product for any twelve (12) month period after Zander’s first commercial sale of a Licensed Product.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Agreement may be terminated by Zander with regard to any of the License IP if by five years from the date of execution of the Agreement a patent has not been granted by the United States patent and Trademark Office to The Company with regard to that License IP.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Agreement may be terminated by Zander with regard to any of the License IP if a patent that has been granted by the United States patent and Trademark Office to The Company with regard to that License IP is terminated.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Agreement may be terminated by either party in the event of a material breach by the other party.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On December 17, 2018 Regen Biopharma, Inc.(“Licensor”) , KCL Therapeutics, Inc. (“Assignee”) and Zander Therapeutics, Inc. (“Licensee”) entered into a LICENSE ASSIGNMENT AND CONSENT AGREEMENT whereby, with regards to certain intellectual property which was assigned by Regen Biopharma, Inc.(“Assigned Properties”) to its wholly owned subsidiary KCL Therapeutics, Inc., Licensor hereby transfers and assigns to Assignee all rights, duties, and obligations of Licensor under the Agreement with respect to the Assigned Properties , and Assignee agrees to assume such duties and obligations thereunder and be bound to the terms of the Agreement with respect thereto.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On December 16, 2019 Zander Therapeutics, Inc. (“Zander”), KCL Therapeutics, Inc. (“KCL”) and Regen Biopharma, Inc. (“Regen”) entered into an agreement (“Agreement”) whereby:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1) Zander shall return for cancellation 194,285,714 shares of the Series A Preferred stock of Regen (“Conversion Shares”) acquired by Zander through conversion of $340,000 of principal indebtedness of a $350,000 convertible note payable issued by Regen to Zander. Subsequent to this event the principal amount due to Zander by Regen pursuant to the Convertible Note shall be $350,000 which shall be applied pursuant to the Agreement.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2) A $35,000 one time charge due to Zander by Regen (“One Time Charge”) shall be applied pursuant to the Agreement.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3) $75,900 of principal indebtedness due to Regen by Zander and $4,328 of accrued but unpaid interest due by Regen to Zander shall be applied pursuant to the Agreement.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">No actions were taken by any of the parties to enforce the terms of the Agreement.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On April 15, 2021 the Agreement was amended as follows so that the material terms and conditions shall be:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">a) Zander shall not return the Conversion shares for cancellation and the principal indebtedness of the aforementioned convertible note shall not reflect such return</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">b) As of December 16, 2019 all principal and accrued interest payable by Regen to Zander on that date resulting from Promissory Notes issued by Regen to Zander shall be credited towards amounts due by Zander pursuant to that agreement, as amended, entered into by and between Zander and Regen on June 23, 2015 (“License Agreement”) whereby Regen granted to Zander an exclusive worldwide right and license for the development and commercialization of certain intellectual property controlled by Regen for non-human veterinary therapeutic use for a term of fifteen years and that License Assignment And Consent agreement entered into by and between Regen, KCL and Zander on December 17, 2018 whereby Regen transferred and assigned to KCL all rights, duties, and obligations of Regen under the License Agreement and KCL agreed to assume such duties and obligations thereunder and be bound to the terms of the License Agreement with respect thereto.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Zander and Regen are under common control.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On September 30, 2018 Regen Biopharma, Inc. (“Regen”) issued a convertible promissory note in the principal amount of $<span id="xdx_908_eus-gaap--ConvertibleNotesPayableCurrent_iI_pp0p0_c20240331__us-gaap--DebtInstrumentAxis__custom--September302018Member_zWwpL8LzuHCK" title="Convertible Notes Payable, Current">350,000</span> (“Note”) to Zander Therapeutics, Inc. (“Zander”). Consideration for the Note consisted of $350,000. A onetime interest charge of 10% of the principal amount shall be applied to the principal amount of the Note. The Note is due and payable 24 months from the effective date.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Zander has the right, at any time after the September 30, 2018, at its election, to convert all or part of the outstanding and unpaid Principal Sum and accrued interest (and any other fees) into shares of fully paid and non-assessable shares of Series A Preferred stock of Regen as per this conversion formula: Number of shares receivable upon conversion equals the dollar conversion amount divided by the Conversion Price. The Conversion Price is the greater of $0.0001 or 60% of the lowest trade price in the 25 trading days previous to the conversion. Zander, at any time prior to selling all of the shares from a conversion, may, for any reason, rescind any portion, in whole or in part, of that particular conversion attributable to the unsold shares and have the rescinded conversion amount returned to the Principal Sum with the rescinded conversion shares returned to Regen.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of March 31, 2024, $<span id="xdx_90B_eus-gaap--NotesPayableCurrent_iI_pp0p0_c20240331__us-gaap--DebtInstrumentAxis__custom--September302018Member_zkfFsAhGJTk1" title="Notes Payable, Current">0</span> of the principal amount of the Note remains outstanding and all accrued interest has been paid.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On October 8,2021 the Company entered into an agreement with Dr. Brian Koos, MD PhD whereby Dr. Brian Koos would provide services to the Company consisting of :</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">a) Reviewing existing publications on research being conducted on Checkpoint NR2F6.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">b) Identifying the most promising applications for the Company’s technology</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">c) Drafting a “white paper” on results for 1(b)</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">d) Making introductions to known experts in appropriate fields identified in 1(b).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Dr. Brian Koos is to be paid compensated $117,000 as total consideration for performing the abovementioned tasks. During the quarter ended December 31, 2021 Dr. Brian Koos was paid the amount of $80,275 and during the quarter ended June 30, 2022 Dr. Brian Koos was paid $36,975. Dr. Brian Koos is the brother of David Koos the Chairman and Chief Executive Officer of the Company.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of March 31, 2024 the Company is indebted to David R. Koos the Company’s sole officer and director in the amount of $<span id="xdx_90F_eus-gaap--NotesPayableCurrent_iI_pp0p0_c20240331__us-gaap--DebtInstrumentAxis__custom--DavidKoosMember__us-gaap--RelatedAndNonrelatedPartyStatusAxis__us-gaap--RelatedPartyMember_zp2jlfteRevo" title="Notes Payable, Related Parties, Current">710</span>. $<span id="xdx_902_eus-gaap--DebtInstrumentCarryingAmount_pp0p0_c20240331__us-gaap--DebtInstrumentAxis__custom--DavidKoosMember_zbNQiDpUY2dN" title="Long-Term Debt, Gross">710</span> lent to the Company by Koos is due and payable at the demand of the holder and bear simple interest at a rate of 15% per annum.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On January 13, 2022 Regen Biopharma, Inc. entered into a sublease agreement with BST Partners (“BST”) whereby Regen Biopharma, Inc. would sublet office space located at 4700 Spring Street, Suite 304, La Mesa, California 91942 from BST on a month to month basis for $5,000 per month beginning January 14, 2022.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">BST Partners is controlled by David Koos who serves as the sole officer and director of Regen Biopharma, Inc.</span></p> 350000 0 710 710 <p id="xdx_801_eus-gaap--StockholdersEquityNoteDisclosureTextBlock_zBMDH2ibqqA7" style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 7. <span id="xdx_821_zef536FtG7kD">STOCKHOLDERS’ EQUITY</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The stockholders’ equity section of the Company contains the following classes of capital stock as of March 31, 2024:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Common stock, $ 0.0001 par value; <span id="xdx_90E_eus-gaap--CommonStockSharesAuthorized_iI_c20240331_z6d3SOyindO5" title="Common Stock, Shares Authorized">5,800,000,000</span> shares authorized: <span id="xdx_909_eus-gaap--CommonStockSharesOutstanding_iI_c20240331_zPEKEAzgHuy7" title="Common Stock, Shares, Outstanding">4,114,622</span> shares issued and outstanding.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">With respect to each matter submitted to a vote of stockholders of the Corporation, each holder of Common Stock shall be entitled to cast that number of votes which is equivalent to the number of shares of Common Stock owned by such holder times one (1).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On any voluntary or involuntary liquidation, dissolution or winding up of the Corporation, the holders of the Common Stock shall receive, out of assets legally available for distribution to the Company’s stockholders, a ratable share in the assets of the Corporation.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Preferred Stock, $<span id="xdx_906_eus-gaap--PreferredStockParOrStatedValuePerShare_iI_c20240331_zJk7ulEPZLOG" title="Preferred Stock, Par or Stated Value Per Share">0.0001</span> par value, <span id="xdx_90A_eus-gaap--PreferredStockSharesAuthorized_iI_c20240331_zdY7eQUhh3X_zLcAkiKlSEvI" title="Preferred Stock, Shares Authorized">800,000,000</span> shares authorized of which <span id="xdx_90E_eus-gaap--PreferredStockSharesAuthorized_iI_c20240331__us-gaap--StatementClassOfStockAxis__custom--SeriesAAPreferredStockMember_zXLMUCGcUxJ_zbTtx7pVj3vk" title="Preferred Stock, Shares Authorized">600,000</span> is designated as Series AA Preferred Stock: <span id="xdx_907_eus-gaap--PreferredStockSharesOutstanding_iI_c20240331__us-gaap--StatementClassOfStockAxis__custom--SeriesAAPreferredStockMember_zdWnwUcJ2IKx" title="Preferred Stock, Shares Outstanding">34</span> shares issued and outstanding as of March 31, 2024, <span id="xdx_90A_eus-gaap--PreferredStockSharesAuthorized_iI_c20240331__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesAPreferredStockMember_zfD3boeOf0XR" title="Preferred Stock, Shares Authorized">739,000,000</span> is designated Series A Preferred Stock of which <span id="xdx_90E_eus-gaap--PreferredStockSharesOutstanding_iI_c20240331__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesAPreferredStockMember_zOS5O1wr70EI" title="Preferred Stock, Shares Outstanding">409,551</span> shares are outstanding as of March 31, 2024, <span id="xdx_90B_eus-gaap--PreferredStockSharesAuthorized_iI_c20240331__us-gaap--StatementClassOfStockAxis__custom--SeriesMMember_znLwa8ftvJvC" title="Preferred Stock, Shares Authorized">60,000,000</span> is designated Series M Preferred Stock of which <span id="xdx_906_eus-gaap--PreferredStockSharesOutstanding_iI_c20240331__us-gaap--StatementClassOfStockAxis__custom--SeriesMMember_zqGUum4BEYXQ" title="Preferred Stock, Shares Outstanding">29,338</span> shares are outstanding as of March 31, 2024, and <span id="xdx_900_eus-gaap--PreferredStockSharesAuthorized_iI_c20240331__us-gaap--StatementClassOfStockAxis__custom--SeriesNCMember_z9wxKwiRzCRT" title="Preferred Stock, Shares Authorized">20,000</span> is designated Series NC stock of which <span id="xdx_904_eus-gaap--PreferredStockSharesOutstanding_iI_c20240331__us-gaap--StatementClassOfStockAxis__custom--SeriesNCMember_zeJMU68eM44o" title="Preferred Stock, Shares Outstanding">15,007</span> shares are outstanding as of March 31, 2024.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The abovementioned shares authorized pursuant to the Company’s certificate of incorporation may be issued from time to time without prior approval of the shareholders. The Board of Directors of the Company shall have the full authority permitted by law to establish one or more series and the number of shares constituting each such series and to fix by resolution full or limited, multiple or fractional, or no voting rights, and such designations, preferences, qualifications, restrictions, options, conversion rights and other special or relative rights of any series of the Stock that may be desired.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><br/> Series AA Preferred Stock</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On September 15, 2014 the Company filed a CERTIFICATE OF DESIGNATION (“Certificate of Designations”) with the Nevada Secretary of State setting forth the preferences rights and limitations of a newly authorized series of preferred stock designated and known as “Series AA Preferred Stock” (hereinafter referred to as “Series AA Preferred Stock”).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Board of Directors of the Company have authorized 600,000 shares of the Series AA Preferred Stock, par value $0.0001. With respect to each matter submitted to a vote of stockholders of the Corporation, each holder of Series AA Preferred Stock shall be entitled to cast that number of votes which is equivalent to the number of shares of Series AA Preferred Stock owned by such holder times seven (7). Except as otherwise required by law holders of Common Stock, other series of Preferred issued by the Corporation, and Series AA Preferred Stock shall vote as a single class on all matters submitted to the stockholders.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Series A Preferred Stock</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On January 15, 2015 the Company filed a CERTIFICATE OF DESIGNATION (“Certificate of Designations”) with the Nevada Secretary of State setting forth the preferences rights and limitations of a newly authorized series of preferred stock designated and known as “Series A Preferred Stock” (hereinafter referred to as “Series A Preferred Stock”).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Board of Directors of the Company have authorized 739,000,000 shares of the Series A Preferred Stock, par value $0.0001. With respect to each matter submitted to a vote of stockholders of the Corporation, each holder of Series A Preferred Stock shall be entitled to cast that number of votes which is equivalent to the number of shares of Series A Preferred Stock owned by such holder times one . Except as otherwise required by law holders of Common Stock, other series of Preferred issued by the Corporation, and Series A Preferred Stock shall vote as a single class on all matters submitted to the stockholders.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Holders of the Series A Preferred Stock will be entitled to receive, when, as and if declared by the board of directors of the Company (the “Board”) out of funds legally available therefore, non-cumulative cash dividends of $0.01 per quarter. In the event any dividends are declared or paid or any other distribution is made on or with respect to the Common Stock , the holders of Series A Preferred Stock as of the record date established by the Board for such dividend or distribution on the Common Stock shall be entitled to receive, as additional dividends (the “Additional Dividends”) an amount (whether in the form of cash, securities or other property) equal to the amount (and in the form) of the dividends or distribution that such holder would have received had each share of the Series A Preferred Stock been one share of the Common Stock, such Additional Dividends to be payable on the same payment date as the payment date for the Common Stock.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Upon any liquidation, dissolution, or winding up of the Company, whether voluntary or involuntary (collectively, a “Liquidation”), before any distribution or payment shall be made to any of the holders of Common Stock or any other series of preferred stock, the holders of Series A Preferred Stock shall be entitled to receive out of the assets of the Company, whether such assets are capital, surplus or earnings, an amount equal to $0.01 per share of Series A Preferred (the “Liquidation Amount”) plus all declared and unpaid dividends thereon, for each share of Series A Preferred held by them.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">If, upon any Liquidation, the assets of the Company shall be insufficient to pay the Liquidation Amount, together with declared and unpaid dividends thereon, in full to all holders of Series A Preferred, then the entire net assets of the Company shall be distributed among the holders of the Series A Preferred, ratably in proportion to the full amounts to which they would otherwise be respectively entitled and such distributions may be made in cash or in property taken at its fair value (as determined in good faith by the Board), or both, at the election of the Board. </span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On January 10, 2017 Regen Biopharma, Inc. (“Regen”) filed a CERTIFICATE OF DESIGNATION (“Certificate of Designations”) with the Nevada Secretary of State setting forth the preferences rights and limitations of a newly authorized series of preferred stock designated and known as “Series M Preferred Stock” (hereinafter referred to as “Series M Preferred Stock”).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><br/> The Board of Directors of Regen have authorized 60,000,000 shares of the Series M Preferred Stock, par value $0.0001. With respect to each matter submitted to a vote of stockholders of Regen, each holder of Series M Preferred Stock shall be entitled to cast that number of votes which is equivalent to the number of shares of Series M Preferred Stock owned by such holder times one. Except as otherwise required by law holders of Common Stock, other series of Preferred issued by Regen, and Series M Preferred Stock shall vote as a single class on all matters submitted to the stockholders.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The holders of Series M Preferred Stock shall be entitled receive dividends, when, as and if declared by the Board of Directors in accordance with Nevada Law, in its discretion, from funds legally available therefore</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On any voluntary or involuntary liquidation, dissolution or winding up of Regen, the holders of the Series M Preferred Stock shall receive, out of assets legally available for distribution to Regen’s stockholders, a ratable share in the assets of Regen.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On March 26, 2021 Regen Biopharma, Inc. ( “Regen”) filed a CERTIFICATE OF DESIGNATION (“Certificate of Designations”) with the Nevada Secretary of State setting forth the preferences rights and limitations of a newly authorized series of preferred stock designated and known as Nonconvertible Series NC Preferred Stock (hereinafter referred to as “Series NC Preferred Stock”).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Board of Directors of Regen have authorized 20,000 shares of the Series NC Preferred Stock, par value $0.0001. With respect to each matter submitted to a vote of stockholders of Regen, each holder of Series NC Preferred Stock shall be entitled to cast that number of votes which is equivalent to the number of shares of Series NC Preferred Stock owned by such holder times 334. Except as otherwise required by law holders of Common Stock, other series of Preferred issued by Regen, and Series NC Preferred Stock shall vote as a single class on all matters submitted to the stockholders.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The holders of Series NC Preferred Stock shall be entitled receive dividends, when, as and if declared by the Board of Directors in accordance with Nevada Law, in its discretion, from funds legally available therefore</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On any voluntary or involuntary liquidation, dissolution or winding up of Regen, the holders of the Series NC Preferred Stock shall receive, out of assets legally available for distribution to Regen’s stockholders, a ratable share in the assets of Regen. </span></p> 5800000000 4114622 0.0001 800000000 600000 34 739000000 409551 60000000 29338 20000 15007 <p id="xdx_807_ecustom--InvestmentSecuritiesRelatedPartyTextBlock_zoUBIviwIYt_zUmM8ZX9zVjm"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 8. <span id="xdx_82D_zzlrCDQHEOnb">INVESTMENT SECURITIES, RELATED PARTY</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On June 11, 2018 Regen Biopharma, Inc. was paid a property dividend consisting of <span id="xdx_900_ecustom--NumberOfSharesIssuedForPropertyDividend_c20180601__20180611__dei--LegalEntityAxis__custom--ZanderTherapeuticsMember_zezNG4ny5pT_z3YOgqWWudnZ" title="Number Of Shares Issued For Property Dividend">470,588</span> of the common shares of Zander Therapeutics, Inc.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On November 29, 2018 the Company accepted <span id="xdx_90E_ecustom--NumberOfSharesIssuedInSatisfactionOfPrepaidRentAndAccruedInterest_c20181101__20181129__us-gaap--StatementClassOfStockAxis__custom--SeriesMMember__dei--LegalEntityAxis__custom--ZanderTherapeuticsMember_z3niLSHcdadH" title="Number Of Shares Issued In Satisfaction Of Prepaid Rent And Accrued Interest">725,000</span> shares of the Series M Preferred stock of Zander Therapeutics, Inc. in satisfaction of prepaid rent and accrued interest owed to the Company collectively amounting to $<span id="xdx_905_ecustom--SharesIssuedInSatisfactionOfPrepaidRentAndAccruedInterestValue_pp0p0_c20181101__20181129__us-gaap--StatementClassOfStockAxis__custom--SeriesMMember__dei--LegalEntityAxis__custom--ZanderTherapeuticsMember_z6Q6h3fghE3C" title="Shares Issued In Satisfaction Of Prepaid Rent And Accrued Interest Value">13,124</span>.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On March 31, 2024 the Company revalued <span id="xdx_909_ecustom--NumberOfSharesIssuedForPropertyDividend_c20231001__20240331__dei--LegalEntityAxis__custom--ZanderTherapeuticsMember_zHNpQ5AtAbYF" title="Number Of Shares Issued For Property Dividend">470,588</span> of the common shares of Zander Therapeutics, Inc. and <span id="xdx_901_ecustom--NumberOfSharesIssuedInSatisfactionOfPrepaidRentAndAccruedInterest_c20231001__20240331__us-gaap--StatementClassOfStockAxis__custom--SeriesMMember__dei--LegalEntityAxis__custom--ZanderTherapeuticsMember_zSNLJE2NcaUx" title="Number Of Shares Issued In Satisfaction Of Prepaid Rent And Accrued Interest">725,000</span> shares of the Series M Preferred stock of Zander Therapeutics, Inc. based on the following inputs:</span></p> <table cellpadding="0" cellspacing="0" id="xdx_883_eus-gaap--ScheduleOfOtherNonoperatingIncomeByComponentTextBlock_z5XwnwJartEh" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - INVESTMENT SECURITIES, RELATED PARTY (Details)"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span id="xdx_8BC_zI7O8d5t5cvt" style="display: none">Dividend income</span></td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 70%; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">Fair Value of Intellectual Property</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 10%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td id="xdx_987_ecustom--FairValueOfIntellectualProperty_pp0p0_c20240331__us-gaap--StatementClassOfStockAxis__custom--SeriesMMember__dei--LegalEntityAxis__custom--ZanderTherapeuticsMember_zge4WkpoPhsZ" style="font: 10pt Times New Roman, Times, Serif; width: 18%; text-align: right" title="Fair Value of Intellectual Property"><span style="font-family: Times New Roman, Times, Serif">300,000</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">Prepaid Expenses</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_987_eus-gaap--PrepaidExpenseCurrent_pp0p0_c20240331__us-gaap--StatementClassOfStockAxis__custom--SeriesMMember__dei--LegalEntityAxis__custom--ZanderTherapeuticsMember_zYzGRHGv37R_znInbeZrKFPY" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Prepaid Expense, Current"><span style="font-family: Times New Roman, Times, Serif">65,661</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">Due from Employee</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_985_ecustom--DueFromEmployeeRelatedParty_iI_pp0p0_c20240331__us-gaap--StatementClassOfStockAxis__custom--SeriesMMember__dei--LegalEntityAxis__custom--ZanderTherapeuticsMember_zV0dWHyeMVXm" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Due from Employees"><span style="font-family: Times New Roman, Times, Serif">0</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">Note Receivable</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_986_eus-gaap--ReceivablesNetCurrent_pp0p0_c20240331__us-gaap--StatementClassOfStockAxis__custom--SeriesMMember__dei--LegalEntityAxis__custom--ZanderTherapeuticsMember_z4dvV0d7Fb_zkgKzlA7lEHk" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Receivables, Net, Current"><span style="font-family: Times New Roman, Times, Serif">40,000</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">Accrued Interest Receivable</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_98A_eus-gaap--AccruedInvestmentIncomeReceivable_pp0p0_c20240331__us-gaap--StatementClassOfStockAxis__custom--SeriesMMember__dei--LegalEntityAxis__custom--ZanderTherapeuticsMember_z30vd9KRUEGo" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Accrued Investment Income Receivable"><span style="font-family: Times New Roman, Times, Serif">35,000</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">Investment Securities</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_988_eus-gaap--Investments_pp0p0_c20240331__us-gaap--StatementClassOfStockAxis__custom--SeriesMMember__dei--LegalEntityAxis__custom--ZanderTherapeuticsMember_zmlwdD9AYlv6" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Investments"><span style="font-family: Times New Roman, Times, Serif">258,255</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">Convertible Note Receivable</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_98F_ecustom--ConvertibleNoteReceivable_pp0p0_c20240331__us-gaap--StatementClassOfStockAxis__custom--SeriesMMember__dei--LegalEntityAxis__custom--ZanderTherapeuticsMember_zKhUthUdeWSu" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Convertible Note Receivable"><span style="font-family: Times New Roman, Times, Serif">10,000</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">Accounts Payable</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_98C_eus-gaap--AccountsPayableCurrent_iI_pp0p0_c20240331__us-gaap--StatementClassOfStockAxis__custom--SeriesMMember__dei--LegalEntityAxis__custom--ZanderTherapeuticsMember_zVXSdzytE73T" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Accounts Payable, Current"><span style="font-family: Times New Roman, Times, Serif">30,563</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">Notes Payable</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_989_eus-gaap--NotesPayable_iI_pp0p0_c20240331__us-gaap--StatementClassOfStockAxis__custom--SeriesMMember__dei--LegalEntityAxis__custom--ZanderTherapeuticsMember_zs1j0L9kChDN" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Notes Payables"><span style="font-family: Times New Roman, Times, Serif">400,000</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">Accrued Expenses Related Parties</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_98F_ecustom--AccruedExpensesRelated_pp0p0_c20240331__us-gaap--StatementClassOfStockAxis__custom--SeriesMMember__dei--LegalEntityAxis__custom--ZanderTherapeuticsMember_z59199FcECjQ" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Accrued Expenses, Related Party"><span style="font-family: Times New Roman, Times, Serif">162,011</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">Notes Payable Related Party</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_985_ecustom--NotesPayableRelatedPartyClassifiedCurrent_iI_pp0p0_c20240331__us-gaap--StatementClassOfStockAxis__custom--SeriesMMember__dei--LegalEntityAxis__custom--ZanderTherapeuticsMember_zkvWh67kJv6z" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Notes Payable, Related Parties, Current"><span style="font-family: Times New Roman, Times, Serif">0</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">Accrued Expenses</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_989_eus-gaap--AccruedLiabilitiesCurrent_pp0p0_c20240331__us-gaap--StatementClassOfStockAxis__custom--SeriesMMember__dei--LegalEntityAxis__custom--ZanderTherapeuticsMember_zlBsX3T5YJBj" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Accrued Liabilities, Current"><span style="font-family: Times New Roman, Times, Serif">647,072</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">Enterprise Value</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_98F_ecustom--EnterpriseValue_pp0p0_c20240331__us-gaap--StatementClassOfStockAxis__custom--SeriesMMember__dei--LegalEntityAxis__custom--ZanderTherapeuticsMember_zFS85smQeS5A" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Enterprise Value"><span style="font-family: Times New Roman, Times, Serif">1,948,562</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">Less: Total Debt</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_982_eus-gaap--DebtCurrent_iNI_pp0p0_di_c20240331__us-gaap--StatementClassOfStockAxis__custom--SeriesMMember__dei--LegalEntityAxis__custom--ZanderTherapeuticsMember_z9m4Fv63IwMp" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Debt, Current"><span style="font-family: Times New Roman, Times, Serif">(1,239,646</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">Portion of Enterprise Value Attributable to Shareholders</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_98B_ecustom--PortionOfEnterpriseValueAttributableToShareholders_pp0p0_c20240331__us-gaap--StatementClassOfStockAxis__custom--SeriesMMember__dei--LegalEntityAxis__custom--ZanderTherapeuticsMember_z9NXbA0Avi1O" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Portion of Enterprise Value attributable to Shareholders"><span style="font-family: Times New Roman, Times, Serif">708,916</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">Fair Value Per Share</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td id="xdx_989_ecustom--FairValuePerShare_c20240331__us-gaap--StatementClassOfStockAxis__custom--SeriesMMember__dei--LegalEntityAxis__custom--ZanderTherapeuticsMember_zlRZB25sL2jt" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Fair Value per share"><span style="font-family: Times New Roman, Times, Serif">0.0155</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The abovementioned constitute the Company’s sole related party investment securities as of March 31, 2024.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>As of March 31, 2024:</b></span></p> <table cellpadding="0" cellspacing="0" id="xdx_892_eus-gaap--ScheduleOfComprehensiveIncomeLossTableTextBlock_ztitxh23GB8J" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - INVESTMENT SECURITIES, RELATED PARTY (Details 1)"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center"><span id="xdx_8BD_zFM1FrMnc29c" style="display: none">Comprehensive income</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center; vertical-align: bottom"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center; vertical-align: bottom"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center; vertical-align: bottom"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center; vertical-align: bottom"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center; vertical-align: bottom"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center; vertical-align: bottom"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center; vertical-align: bottom"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center; vertical-align: bottom"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center; vertical-align: bottom"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center; vertical-align: bottom"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td colspan="15" style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">470,588 <b>Common Shares of Zander Therapeutics, Inc.</b></span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td colspan="3" style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="3" style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="3" style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="3" style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; width: 26%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Basis</b></span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center; width: 1%; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center; width: 4%; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center; width: 1%; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; width: 18%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Fair Value</b></span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center; width: 1%; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center; width: 4%; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center; width: 1%; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center; width: 18%; vertical-align: bottom"><p style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Total Unrealized </b></span><b>Gains</b></p></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center; width: 1%; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center; width: 4%; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center; width: 1%; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; width: 18%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Net Unrealized Gain or (Loss) realized during the quarter ended March 31, 2024</b></span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_984_ecustom--InvestmentSecuritiesBasis_iI_pp0p0_c20240331__us-gaap--StatementClassOfStockAxis__us-gaap--CommonStockMember__dei--LegalEntityAxis__custom--ZanderTherapeuticsMember_zlLMkEDYrbWl" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Investment Securities, Basis"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">5,741</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_987_eus-gaap--DebtSecuritiesTradingAndEquitySecuritiesFvNiCost_iI_pp0p0_c20240331__us-gaap--StatementClassOfStockAxis__us-gaap--CommonStockMember__dei--LegalEntityAxis__custom--ZanderTherapeuticsMember_zIeuVIs3kcXu" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Investment Securities, Fair Value"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">6,496</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_987_ecustom--AvailableForSaleSecuritiesAccumulatedGrossUnrealizedGainBeforeLossTax_pp0p0_c20240331__us-gaap--StatementClassOfStockAxis__us-gaap--CommonStockMember__dei--LegalEntityAxis__custom--ZanderTherapeuticsMember_zH6ws4ESi4if" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Investment Securities, Total Unrealized Gain"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">755</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_981_eus-gaap--EquitySecuritiesFvNiUnrealizedGainLoss_pp0p0_c20231001__20240331__us-gaap--StatementClassOfStockAxis__us-gaap--CommonStockMember__dei--LegalEntityAxis__custom--ZanderTherapeuticsMember_zA6TCn3ThMQ_zlb0gCgfgIaa" title="Investment Securities, net Unrealized Gain or (Loss) realized"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(0</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><span style="font-family: Times New Roman, Times, Serif"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td colspan="15" style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">725,000 <b>Series M Preferred of Zander Therapeutics, Inc.</b></span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td colspan="3" style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="3" style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="3" style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="3" style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center; width: 1%; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; width: 26%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Basis</b></span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center; width: 1%; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center; width: 4%; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center; width: 1%; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; width: 18%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Fair Value</b></span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center; width: 1%; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center; width: 4%; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center; width: 1%; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; width: 18%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Total Unrealized Loss</b></span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center; width: 1%; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center; width: 4%; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center; width: 1%; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; width: 18%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Net Unrealized Gain or (Loss) realized during the quarter  ended March 31, 2024</b></span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center; width: 1%; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_98A_ecustom--InvestmentSecuritiesBasis_pp0p0_c20240331__us-gaap--StatementClassOfStockAxis__custom--SeriesMMember__dei--LegalEntityAxis__custom--ZanderTherapeuticsMember_zz0DN7693ZDZ" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Investment Securities, Basis"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">13,124</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_983_eus-gaap--DebtSecuritiesTradingAndEquitySecuritiesFvNiCost_iI_pp0p0_c20240331__us-gaap--StatementClassOfStockAxis__custom--SeriesMMember__dei--LegalEntityAxis__custom--ZanderTherapeuticsMember_zmP5Ac6mcoZY" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Investment Securities, Fair Value"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">11,238</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_986_ecustom--AvailableForSaleSecuritiesAccumulatedGrossUnrealizedGainBeforeLossTax_pp0p0_c20240331__us-gaap--StatementClassOfStockAxis__custom--SeriesMMember__dei--LegalEntityAxis__custom--ZanderTherapeuticsMember_zowuIaWqA1Pj" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Investment Securities, Total Unrealized Gain"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1,866</span></td> <td style="font: 10pt Times New Roman, Times, Serif">)<span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_983_eus-gaap--EquitySecuritiesFvNiUnrealizedGainLoss_pp0p0_c20231001__20240331__us-gaap--StatementClassOfStockAxis__custom--SeriesMMember__dei--LegalEntityAxis__custom--ZanderTherapeuticsMember_znFImuCoELUV" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Investment Securities, net Unrealized Gain or (Loss) realized"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(0</span></td> <td style="font: 10pt Times New Roman, Times, Serif">)<span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"></p> 470588 725000 13124 470588 725000 <table cellpadding="0" cellspacing="0" id="xdx_883_eus-gaap--ScheduleOfOtherNonoperatingIncomeByComponentTextBlock_z5XwnwJartEh" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - INVESTMENT SECURITIES, RELATED PARTY (Details)"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span id="xdx_8BC_zI7O8d5t5cvt" style="display: none">Dividend income</span></td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 70%; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">Fair Value of Intellectual Property</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 10%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td id="xdx_987_ecustom--FairValueOfIntellectualProperty_pp0p0_c20240331__us-gaap--StatementClassOfStockAxis__custom--SeriesMMember__dei--LegalEntityAxis__custom--ZanderTherapeuticsMember_zge4WkpoPhsZ" style="font: 10pt Times New Roman, Times, Serif; width: 18%; text-align: right" title="Fair Value of Intellectual Property"><span style="font-family: Times New Roman, Times, Serif">300,000</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">Prepaid Expenses</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_987_eus-gaap--PrepaidExpenseCurrent_pp0p0_c20240331__us-gaap--StatementClassOfStockAxis__custom--SeriesMMember__dei--LegalEntityAxis__custom--ZanderTherapeuticsMember_zYzGRHGv37R_znInbeZrKFPY" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Prepaid Expense, Current"><span style="font-family: Times New Roman, Times, Serif">65,661</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">Due from Employee</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_985_ecustom--DueFromEmployeeRelatedParty_iI_pp0p0_c20240331__us-gaap--StatementClassOfStockAxis__custom--SeriesMMember__dei--LegalEntityAxis__custom--ZanderTherapeuticsMember_zV0dWHyeMVXm" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Due from Employees"><span style="font-family: Times New Roman, Times, Serif">0</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">Note Receivable</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_986_eus-gaap--ReceivablesNetCurrent_pp0p0_c20240331__us-gaap--StatementClassOfStockAxis__custom--SeriesMMember__dei--LegalEntityAxis__custom--ZanderTherapeuticsMember_z4dvV0d7Fb_zkgKzlA7lEHk" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Receivables, Net, Current"><span style="font-family: Times New Roman, Times, Serif">40,000</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">Accrued Interest Receivable</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_98A_eus-gaap--AccruedInvestmentIncomeReceivable_pp0p0_c20240331__us-gaap--StatementClassOfStockAxis__custom--SeriesMMember__dei--LegalEntityAxis__custom--ZanderTherapeuticsMember_z30vd9KRUEGo" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Accrued Investment Income Receivable"><span style="font-family: Times New Roman, Times, Serif">35,000</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">Investment Securities</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_988_eus-gaap--Investments_pp0p0_c20240331__us-gaap--StatementClassOfStockAxis__custom--SeriesMMember__dei--LegalEntityAxis__custom--ZanderTherapeuticsMember_zmlwdD9AYlv6" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Investments"><span style="font-family: Times New Roman, Times, Serif">258,255</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">Convertible Note Receivable</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_98F_ecustom--ConvertibleNoteReceivable_pp0p0_c20240331__us-gaap--StatementClassOfStockAxis__custom--SeriesMMember__dei--LegalEntityAxis__custom--ZanderTherapeuticsMember_zKhUthUdeWSu" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Convertible Note Receivable"><span style="font-family: Times New Roman, Times, Serif">10,000</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">Accounts Payable</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_98C_eus-gaap--AccountsPayableCurrent_iI_pp0p0_c20240331__us-gaap--StatementClassOfStockAxis__custom--SeriesMMember__dei--LegalEntityAxis__custom--ZanderTherapeuticsMember_zVXSdzytE73T" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Accounts Payable, Current"><span style="font-family: Times New Roman, Times, Serif">30,563</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">Notes Payable</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_989_eus-gaap--NotesPayable_iI_pp0p0_c20240331__us-gaap--StatementClassOfStockAxis__custom--SeriesMMember__dei--LegalEntityAxis__custom--ZanderTherapeuticsMember_zs1j0L9kChDN" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Notes Payables"><span style="font-family: Times New Roman, Times, Serif">400,000</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">Accrued Expenses Related Parties</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_98F_ecustom--AccruedExpensesRelated_pp0p0_c20240331__us-gaap--StatementClassOfStockAxis__custom--SeriesMMember__dei--LegalEntityAxis__custom--ZanderTherapeuticsMember_z59199FcECjQ" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Accrued Expenses, Related Party"><span style="font-family: Times New Roman, Times, Serif">162,011</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">Notes Payable Related Party</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_985_ecustom--NotesPayableRelatedPartyClassifiedCurrent_iI_pp0p0_c20240331__us-gaap--StatementClassOfStockAxis__custom--SeriesMMember__dei--LegalEntityAxis__custom--ZanderTherapeuticsMember_zkvWh67kJv6z" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Notes Payable, Related Parties, Current"><span style="font-family: Times New Roman, Times, Serif">0</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">Accrued Expenses</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_989_eus-gaap--AccruedLiabilitiesCurrent_pp0p0_c20240331__us-gaap--StatementClassOfStockAxis__custom--SeriesMMember__dei--LegalEntityAxis__custom--ZanderTherapeuticsMember_zlBsX3T5YJBj" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Accrued Liabilities, Current"><span style="font-family: Times New Roman, Times, Serif">647,072</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">Enterprise Value</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_98F_ecustom--EnterpriseValue_pp0p0_c20240331__us-gaap--StatementClassOfStockAxis__custom--SeriesMMember__dei--LegalEntityAxis__custom--ZanderTherapeuticsMember_zFS85smQeS5A" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Enterprise Value"><span style="font-family: Times New Roman, Times, Serif">1,948,562</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">Less: Total Debt</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_982_eus-gaap--DebtCurrent_iNI_pp0p0_di_c20240331__us-gaap--StatementClassOfStockAxis__custom--SeriesMMember__dei--LegalEntityAxis__custom--ZanderTherapeuticsMember_z9m4Fv63IwMp" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Debt, Current"><span style="font-family: Times New Roman, Times, Serif">(1,239,646</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">Portion of Enterprise Value Attributable to Shareholders</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_98B_ecustom--PortionOfEnterpriseValueAttributableToShareholders_pp0p0_c20240331__us-gaap--StatementClassOfStockAxis__custom--SeriesMMember__dei--LegalEntityAxis__custom--ZanderTherapeuticsMember_z9NXbA0Avi1O" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Portion of Enterprise Value attributable to Shareholders"><span style="font-family: Times New Roman, Times, Serif">708,916</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">Fair Value Per Share</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td id="xdx_989_ecustom--FairValuePerShare_c20240331__us-gaap--StatementClassOfStockAxis__custom--SeriesMMember__dei--LegalEntityAxis__custom--ZanderTherapeuticsMember_zlRZB25sL2jt" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Fair Value per share"><span style="font-family: Times New Roman, Times, Serif">0.0155</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> </table> 300000 65661 0 40000 35000 258255 10000 30563 400000 162011 0 647072 1948562 1239646 708916 0.0155 <table cellpadding="0" cellspacing="0" id="xdx_892_eus-gaap--ScheduleOfComprehensiveIncomeLossTableTextBlock_ztitxh23GB8J" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - INVESTMENT SECURITIES, RELATED PARTY (Details 1)"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center"><span id="xdx_8BD_zFM1FrMnc29c" style="display: none">Comprehensive income</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center; vertical-align: bottom"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center; vertical-align: bottom"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center; vertical-align: bottom"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center; vertical-align: bottom"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center; vertical-align: bottom"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center; vertical-align: bottom"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center; vertical-align: bottom"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center; vertical-align: bottom"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center; vertical-align: bottom"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center; vertical-align: bottom"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td colspan="15" style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">470,588 <b>Common Shares of Zander Therapeutics, Inc.</b></span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td colspan="3" style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="3" style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="3" style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="3" style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; width: 26%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Basis</b></span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center; width: 1%; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center; width: 4%; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center; width: 1%; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; width: 18%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Fair Value</b></span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center; width: 1%; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center; width: 4%; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center; width: 1%; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center; width: 18%; vertical-align: bottom"><p style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Total Unrealized </b></span><b>Gains</b></p></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center; width: 1%; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center; width: 4%; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center; width: 1%; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; width: 18%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Net Unrealized Gain or (Loss) realized during the quarter ended March 31, 2024</b></span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_984_ecustom--InvestmentSecuritiesBasis_iI_pp0p0_c20240331__us-gaap--StatementClassOfStockAxis__us-gaap--CommonStockMember__dei--LegalEntityAxis__custom--ZanderTherapeuticsMember_zlLMkEDYrbWl" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Investment Securities, Basis"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">5,741</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_987_eus-gaap--DebtSecuritiesTradingAndEquitySecuritiesFvNiCost_iI_pp0p0_c20240331__us-gaap--StatementClassOfStockAxis__us-gaap--CommonStockMember__dei--LegalEntityAxis__custom--ZanderTherapeuticsMember_zIeuVIs3kcXu" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Investment Securities, Fair Value"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">6,496</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_987_ecustom--AvailableForSaleSecuritiesAccumulatedGrossUnrealizedGainBeforeLossTax_pp0p0_c20240331__us-gaap--StatementClassOfStockAxis__us-gaap--CommonStockMember__dei--LegalEntityAxis__custom--ZanderTherapeuticsMember_zH6ws4ESi4if" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Investment Securities, Total Unrealized Gain"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">755</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_981_eus-gaap--EquitySecuritiesFvNiUnrealizedGainLoss_pp0p0_c20231001__20240331__us-gaap--StatementClassOfStockAxis__us-gaap--CommonStockMember__dei--LegalEntityAxis__custom--ZanderTherapeuticsMember_zA6TCn3ThMQ_zlb0gCgfgIaa" title="Investment Securities, net Unrealized Gain or (Loss) realized"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(0</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><span style="font-family: Times New Roman, Times, Serif"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td colspan="15" style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">725,000 <b>Series M Preferred of Zander Therapeutics, Inc.</b></span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td colspan="3" style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="3" style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="3" style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="3" style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center; width: 1%; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; width: 26%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Basis</b></span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center; width: 1%; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center; width: 4%; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center; width: 1%; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; width: 18%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Fair Value</b></span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center; width: 1%; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center; width: 4%; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center; width: 1%; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; width: 18%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Total Unrealized Loss</b></span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center; width: 1%; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center; width: 4%; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center; width: 1%; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; width: 18%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Net Unrealized Gain or (Loss) realized during the quarter  ended March 31, 2024</b></span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center; width: 1%; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_98A_ecustom--InvestmentSecuritiesBasis_pp0p0_c20240331__us-gaap--StatementClassOfStockAxis__custom--SeriesMMember__dei--LegalEntityAxis__custom--ZanderTherapeuticsMember_zz0DN7693ZDZ" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Investment Securities, Basis"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">13,124</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_983_eus-gaap--DebtSecuritiesTradingAndEquitySecuritiesFvNiCost_iI_pp0p0_c20240331__us-gaap--StatementClassOfStockAxis__custom--SeriesMMember__dei--LegalEntityAxis__custom--ZanderTherapeuticsMember_zmP5Ac6mcoZY" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Investment Securities, Fair Value"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">11,238</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_986_ecustom--AvailableForSaleSecuritiesAccumulatedGrossUnrealizedGainBeforeLossTax_pp0p0_c20240331__us-gaap--StatementClassOfStockAxis__custom--SeriesMMember__dei--LegalEntityAxis__custom--ZanderTherapeuticsMember_zowuIaWqA1Pj" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Investment Securities, Total Unrealized Gain"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1,866</span></td> <td style="font: 10pt Times New Roman, Times, Serif">)<span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_983_eus-gaap--EquitySecuritiesFvNiUnrealizedGainLoss_pp0p0_c20231001__20240331__us-gaap--StatementClassOfStockAxis__custom--SeriesMMember__dei--LegalEntityAxis__custom--ZanderTherapeuticsMember_znFImuCoELUV" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Investment Securities, net Unrealized Gain or (Loss) realized"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(0</span></td> <td style="font: 10pt Times New Roman, Times, Serif">)<span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"></p> 5741 6496 755 -0 13124 11238 -1866 -0 <p id="xdx_80C_ecustom--StockTransactionsTextBlock_z3zPI9n5Bd0D" style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 9. <span id="xdx_82D_zADaFtQxD7FA">STOCK TRANSACTIONS</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify">On January 3, 2024 the Company issued <span id="xdx_90E_eus-gaap--CommonStockSharesIssued_iI_c20240103__us-gaap--StatementClassOfStockAxis__us-gaap--CommonStockMember_z9pKSx8nEwnJ">94,883</span> common shares for cash consideration of $<span id="xdx_90D_eus-gaap--CommonStockValue_iI_c20240103_zt50hsnAdxpg">39,638</span>.</p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify">On January 10, 2024 the Company issued <span id="xdx_903_eus-gaap--CommonStockSharesIssued_iI_c20240110__us-gaap--StatementClassOfStockAxis__us-gaap--CommonStockMember_zxYYbBPCR29s">82,643</span> common <span style="background-color: white">shares </span>for cash consideration of $<span id="xdx_901_eus-gaap--CommonStockValue_iI_c20240110_zDh0qxA1QCFM">44,297</span>.</p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify">On February 2, 2024 <span style="background-color: white">the </span>Company issued <span id="xdx_906_eus-gaap--CommonStockSharesIssued_iI_c20240202__us-gaap--StatementClassOfStockAxis__us-gaap--CommonStockMember_zKeq7qbDikRZ">40,229</span> common shares for cash <span style="background-color: white">consideration of $</span><span id="xdx_901_eus-gaap--CommonStockValue_iI_c20240202_zalfZlLR2sMZ">19,614</span>.</p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify">On February 21, 2024 the Company issued <span id="xdx_900_eus-gaap--CommonStockSharesIssued_iI_c20240221__us-gaap--StatementClassOfStockAxis__us-gaap--CommonStockMember_zhQqrgSLpcSk">52,569</span> common shares for cash consideration <span style="background-color: white">of </span>$<span id="xdx_90B_eus-gaap--CommonStockValue_iI_c20240221_zNPRN4SlJXKp">32,362</span><span style="background-color: white">.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify">On March 6, 2024 the Company issued <span id="xdx_90E_eus-gaap--CommonStockSharesIssued_iI_c20240306__us-gaap--StatementClassOfStockAxis__us-gaap--CommonStockMember_zk5Epqep0kJw">44,503</span> common shares for cash consideration of $<span id="xdx_901_eus-gaap--CommonStockValue_iI_c20240306_zbaV8w3JggPg">25,282</span>.</p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify">On March 20, 2024 the Company issued <span id="xdx_903_eus-gaap--CommonStockSharesIssued_iI_c20240320__us-gaap--StatementClassOfStockAxis__us-gaap--CommonStockMember_zLppUF3QnHYB">49,230 </span>common shares for cash consideration of $<span id="xdx_907_eus-gaap--CommonStockValue_iI_c20240320_z452hUrfkbEq">26,781</span>.</p> 94883 39638 82643 44297 40229 19614 52569 32362 44503 25282 49230 26781 <p id="xdx_800_eus-gaap--SubsequentEventsTextBlock_zza7EMtq7rTO" style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 10. <span id="xdx_827_zgNqgtXAh9Wm">SUBSEQUENT EVENTS</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span>On April 3, 2024 the Company issued <span id="xdx_90D_eus-gaap--CommonStockSharesIssued_iI_c20240403__us-gaap--StatementClassOfStockAxis__us-gaap--CommonStockMember_zBELDimVam84">52,763</span> common shares for cash consideration of $<span id="xdx_902_eus-gaap--CommonStockValue_iI_c20240403_zhz7LFvWox4_z1oREFOxIevV">25,326</span>.</span></p> 52763 25326