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Acquisition of Applied Biopharma	7 Months Ended
Mar. 31, 2022
Acquisition of Applied Biopharma
Note 5 - Acquisition of Applied Biopharma	Note 5 – Acquisition of Applied Biopharma In July 2021, the Company entered into and completed an Agreement and Plan of Merger (the “Merger Agreement”), by and among the Company, AB Merger LLC, a Nevada limited liability company and wholly-owned subsidiary of the Company (“AB Merger”), and Applied Biopharma, pursuant to which Applied BioPharma merged into AB Merger and the effect of which is that, upon and assuming consummation of the Merger Agreement, Applied Biopharma became a wholly-owned subsidiary of the Company. Under the terms and conditions of the Merger Agreement, the Company offered and sold 1 share of common stock of the Company in consideration for the purchase of Applied Biopharma. The effect of the issuance is that Applied Biopharma is now a wholly-owned subsidiary of the Company. The acquisition price consisted of the issuance of 1 share of the Company’s common stock with an estimated value of $1.15. Applied Biopharma consisted of net assets of nil and had minimal activity. As such, the acquisition of Applied Biopharma was considered immaterial. The Company has included the activity of Applied Biopharma for the period following the completion of the Merger Agreement.

Acquisition of Applied Biopharma

7 Months Ended

Mar. 31, 2022

Note 5 - Acquisition of Applied Biopharma

Note 5 – Acquisition of Applied Biopharma

In July 2021, the Company entered into and completed an Agreement and Plan of Merger (the “Merger Agreement”), by and among the Company, AB Merger LLC, a Nevada limited liability company and wholly-owned subsidiary of the Company (“AB Merger”), and Applied Biopharma, pursuant to which Applied BioPharma merged into AB Merger and the effect of which is that, upon and assuming consummation of the Merger Agreement, Applied Biopharma became a wholly-owned subsidiary of the Company.

Under the terms and conditions of the Merger Agreement, the Company offered and sold 1 share of common stock of the Company in consideration for the purchase of Applied Biopharma. The effect of the issuance is that Applied Biopharma is now a wholly-owned subsidiary of the Company.

The acquisition price consisted of the issuance of 1 share of the Company’s common stock with an estimated value of $1.15. Applied Biopharma consisted of net assets of nil and had minimal activity. As such, the acquisition of Applied Biopharma was considered immaterial. The Company has included the activity of Applied Biopharma for the period following the completion of the Merger Agreement.