0001213900-20-026881.txt : 20200916 0001213900-20-026881.hdr.sgml : 20200916 20200916125736 ACCESSION NUMBER: 0001213900-20-026881 CONFORMED SUBMISSION TYPE: 10-Q/A PUBLIC DOCUMENT COUNT: 57 CONFORMED PERIOD OF REPORT: 20200331 FILED AS OF DATE: 20200916 DATE AS OF CHANGE: 20200916 FILER: COMPANY DATA: COMPANY CONFORMED NAME: BRAIN SCIENTIFIC INC. CENTRAL INDEX KEY: 0001662382 STANDARD INDUSTRIAL CLASSIFICATION: SURGICAL & MEDICAL INSTRUMENTS & APPARATUS [3841] IRS NUMBER: 810876714 STATE OF INCORPORATION: NV FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-Q/A SEC ACT: 1934 Act SEC FILE NUMBER: 333-209325 FILM NUMBER: 201177988 BUSINESS ADDRESS: STREET 1: 125 WILBUR PLACE, SUITE 170 CITY: BOHEMIA STATE: NY ZIP: 11716 BUSINESS PHONE: (646) 388-3788 MAIL ADDRESS: STREET 1: 125 WILBUR PLACE, SUITE 170 CITY: BOHEMIA STATE: NY ZIP: 11716 FORMER COMPANY: FORMER CONFORMED NAME: All Soft Gels Inc DATE OF NAME CHANGE: 20151229 10-Q/A 1 f10q0320a1_brainscien.htm AMENDMENT NO. 1 TO FORM 10-Q

 

  

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 10-Q/A

 

Amendment No. 1

 

(Mark One)

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

 

For the quarterly period ended March 31, 2020

 

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

 

For the transition period from _____ to _____

 

Commission file number: 333-209325

 

BRAIN SCIENTIFIC INC.

(Name of Registrant in Its Charter)

 

Nevada   81-0876714
State or Other Jurisdiction of
Incorporation or Organization)
  (I.R.S. Employer
Identification No.)

 

125 Wilbur Place, Suite 170

Bohemia, NY 11716

(Address of principal executive offices)

 

(917) 388-1578
(Registrant’s Telephone Number, Including Area Code)

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class   Trading Symbol(s)   Name of each exchange on which
registered
N/A   N/A   N/A

 

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

 

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (Section 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit). Yes ☒ No ☐

 

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

 

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

 

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

 

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

 

Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date: 19,383,794 shares of Common Stock, $0.001 par value, at May 18, 2020.

 

 

 

 

 

EXPLANATORY NOTE

 

As disclosed in Item 4.02 of Brain Scientific Inc.’s (the “Company”) current report on Form 8-K filed with the U.S Securities and Exchange Commission (“SEC”) on August 18, 2020, on August 12, 2020 the Company, under the authority of its board of directors, following discussion with Sadler, Gibb & Associates, LLC, the Company’s independent registered public accounting firm, concluded that the Company’s previously filed financial statements for the three months ended March 31, 2020, can no longer be relied upon.

 

The Company is filing this Amendment No. 1 (“Form 10-Q/A”) to the Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2020, which was filed with the SEC on May 19, 2020 (the “Original Filing”), to reflect restatements of the Consolidated Balance Sheet at March 31, 2020, the Consolidated Statement of Operations, Consolidated Statement of Changes in Shareholders’ Equity (Deficit), and Consolidated Statement of Cash Flows for the three months ended March 31, 2020, and the related notes thereto.

 

The following sections in the Original Filing are amended and restated in this Form 10-Q/A, solely as a result of, and to reflect, the restatement:

 

Part I - Item 1 - Financial Statements

Part I - Item 2 - Management’s Discussion and Analysis of Financial Condition and Results of Operations

 

In addition, pursuant to the rules of the SEC, Part II, Item 6 of the Original Filing has been amended to include the currently-dated certifications from our principal executive officer and principal financial officer, as required by Sections 302 and 906 of the Sarbanes-Oxley Act of 2002. The certifications of the principal executive officer and principal financial officer are included in this Form 10-Q/A as Exhibits 31.1, 31.2, 32.1 and 32.2.

 

For the convenience of the reader, this Form 10-Q/A sets forth the information in the Original Filing in its entirety, as such information is modified and superseded where necessary to reflect the restatement. This Form 10-Q/A should be read in conjunction with our filings with the SEC subsequent to the date of the Original Filing, in each case as those filings may have been, or with respect to the Original Filing will be, superseded or amended.

 

Except as described above, no other changes have been made to the Original Filing. This Form 10-Q/A speaks as of the date of the Original Filing and does not reflect events that may have occurred after the date of the Original Filing, or modify or update any disclosures that may have been affected by subsequent events.

 

 

 

BRAIN SCIENTIFIC INC.

 

Index

 

Part I – Financial Information  
   
Item 1 – Financial Statements 1
Condensed Consolidated Balance Sheets as of March 31, 2020 (restated) (unaudited) and December 31, 2019 1
Condensed Consolidated Statements of Operations and Comprehensive Loss for the Three Months Ended March 31, 2020 (restated) and 2019 (unaudited) 2
Condensed Consolidated Statements of Stockholders’ Deficit for the Three Months Ended as of March 31, 2020 (restated) and March 31, 2019 (unaudited) 3
Condensed Consolidated Statements of Cash Flows for the Three Months Ended March 31, 2020 (restated) and 2019 (unaudited) 4
Notes to Unaudited Condensed Consolidated Financial Statements 5
Item 2 – Management’s Discussion and Analysis of Financial Condition and Results of Operations 19
Item 3 – Quantitative and Qualitative Disclosures About Market Risk 25
Item 4 – Controls and Procedures 25
   
Part II – Other Information  
   
Item 1 – Legal Proceedings 26
Item 1A- Risk Factors 26
Item 2 – Unregistered Sales of Equity Securities and Use of Proceeds 26
Item 3 – Defaults Upon Senior Securities 26
Item 4 – Mine Safety Disclosures 26
Item 5 – Other Information 26
Item 6 – Exhibits 27
   
Signatures 28

  

i

 

PART I – FINANCIAL INFORMATION

 

Item 1. Financial Statements 

 

Brain Scientific Inc. and Subsidiaries

CONDENSED CONSOLIDATED BALANCE SHEETS

 

   March 31, 2020   December 31,
2019
 
   (Restated)     
   (Unaudited)     
         
ASSETS        
CURRENT ASSETS:          
Cash  $27,947   $261,436 
Accounts receivable   6,706    5,555 
Inventory   371    - 
Prepaid expenses and other current assets   10,329    21,637 
Prepaid expenses and other current assets - related party   700    700 
TOTAL CURRENT ASSETS   46,053    289,328 
           
Property and equipment, net   1,333    1,674 
           
TOTAL ASSETS  $47,386   $291,002 
           
LIABILITIES AND STOCKHOLDERS’ DEFICIT          
           
CURRENT LIABILITIES:          
Accounts payable and accrued expenses  $495,091   $298,578 
Accounts payable and accrued expenses - related party   8,737    9,263 
Notes payable   70,000    50,000 
Convertible notes payable, net   406,482    499,232 
Derivative liabilities   571,843    - 
Finance lease - short term   4,595    6,377 
Loans payable - related party   322,967    323,084 
TOTAL CURRENT LIABILITIES:   1,879,715    1,186,534 
           
TOTAL LIABILITIES   1,879,715    1,186,534 
           
Commitments and contingencies   -    - 
           
STOCKHOLDERS’ DEFICIT          
           
Preferred stock, $0.001 par value; 10,000,000 shares authorized, 0 shares issued and outstanding as of March 31, 2020 and December 31, 2019, respectively   -    - 
Common stock, $0.001 par value; 200,000,000 shares authorized, 19,383,794 and 19,380,460 shares issued and outstanding as of March 31, 2020 and December 31, 2019, respectively   19,384    19,381 
Additional paid in capital   2,772,711    2,756,798 
Accumulated deficit   (4,623,737)   (3,672,077)
Accumulated other comprehensive income   (687)   366 
TOTAL STOCKHOLDERS’ DEFICIT   (1,832,329)   (895,532)
           
TOTAL LIABILITIES AND STOCKHOLDERS’ DEFICIT  $47,386   $291,002 

 

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

 

1

 

Brain Scientific Inc. and Subsidiaries

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS

(Unaudited)

 

   Three Months Ended
March 31,
 
   2020   2019 
   (Restated)     
         
REVENUE  $133,845   $2,250 
           
COST OF GOODS SOLD   104,982    - 
           
GROSS PROFIT   28,863    2,250 
           
SELLING, GENERAL AND ADMINISTRATIVE          
Research and development   96,390    22,290 
Professional fees   123,608    111,073 
Sales and marketing expenses   40,584    47,792 
Occupancy expenses   11,638    22,060 
General and administrative expenses   208,635    201,241 
TOTAL SELLING, GENERAL AND ADMINISTRATIVE   480,855    404,456 
           
LOSS FROM OPERATIONS   (451,992)   (402,206)
           
OTHER INCOME (EXPENSE):          
Interest expense   (453,616)   (8,053)
Other income   1,290    - 
Change in fair market value of derivative liabilities   (47,219)   - 
Foreign currency transaction loss   (123)   - 
TOTAL OTHER EXPENSE   (499,668)   (8,053)
           
LOSS BEFORE INCOME TAXES   (951,660)   (410,259)
           
PROVISION FOR INCOME TAXES   -    - 
           
NET LOSS   (951,660)   (410,259)
           
OTHER COMPREHENSIVE LOSS          
Foreign currency translation adjustment   (1,053)   - 
TOTAL COMPREHENSIVE LOSS  $(952,713)  $(410,259)
           
NET LOSS PER COMMON SHARE          
Basic and diluted  $(0.05)  $(0.02)
           
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING          
Basic and diluted   19,380,460    19,205,624 

 

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

 

2

 

Brain Scientific Inc. and Subsidiaries

CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ DEFICIT

 

                   Accumulated     
           Additional       Other     
   Common Stock   Paid-in   Accumulated   Comprehensive     
   Shares   Amount   Capital   Deficit   Income   Total 
                         
Balance at December 31, 2019   19,380,460   $19,381   $2,756,798   $(3,672,077)  $366   $(895,532)
Fair value of stock options vested   -    -    5,914    -    -    5,914 
Issuance of common stock for services   3,334    3    9,999    -    -    10,002 
Foreign currency translation adjustment   -    -    -    -    (1,053)   (1,053)
Net loss   -    -    -    (951,660)        (951,660)
Balances at March 31, 2020   19,383,794   $19,384   $2,772,711   $(4,623,737)  $(687)  $(1,832,329)

 

                   Accumulated     
           Additional       Other     
   Common Stock   Paid-in   Accumulated   Comprehensive     
   Shares   Amount   Capital   Deficit   Income   Total 
                         
Balance at December 31, 2018   19,205,624   $19,206   $2,595,034   $(2,668,212)  $           -   $(53,972)
Fair value of stock options vested   -    -    4,334    -    -    4,334 
Issuance of common stock for services   13,334    13    548    -    -    561 
Net loss   -    -    -    (410,259)        (410,259)
Balances at March 31, 2019   19,218,958   $19,219   $2,599,916   $(3,078,471)  $-   $(459,336)

 

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

 

3

 

Brain Scientific Inc. and Subsidiaries

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(Unaudited)

 

   Three Months Ended
March 31,
 
   2020   2019 
   (Restated)     
         
CASH FLOWS FROM OPERATING ACTIVITIES:          
Net loss  $(951,660)  $(410,259)
Change in net loss to net cash used in operating activities:          
Depreciation and amortization expense   341    299 
Amortization of debt discount and non-cash interest expense   431,874    3,117 
Change in fair value of derivative liabilities   47,219    - 
Fair value of stock options vested   5,914    4,334 
Common stock issued for services   10,002    561 
Changes in operating assets and liabilities:          
Accounts receivable   (1,151)   - 
Inventory   (371)   - 
Other liabilities   (1,782)   (1,411)
Prepaid expenses and other current assets   11,308    (5,707)
Accounts payable and accrued expenses   196,513    17,163 
Accounts payable - related party   (526)   (31,900)
NET CASH USED IN OPERATING ACTIVITIES  $(252,319)  $(423,803)
           
CASH FLOWS FROM INVESTING ACTIVITIES:          
Purchase of property and equipment  $-   $(1,005)
NET CASH USED IN INVESTING ACTIVITIES  $-   $(1,005)
           
CASH FLOWS FROM FINANCING ACTIVITIES:          
Proceeds from convertible notes payable  $-   $230,000 
Proceeds from note payable   20,000    - 
Proceeds from related party loans   -    75,000 
NET CASH PROVIDED BY FINANCING ACTIVITIES  $20,000   $305,000 
           
Effect of exchange rate changes on cash   (1,170)   - 
           
NET CHANGE IN CASH   (233,489)   (119,808)
CASH AT BEGINNING OF THE PERIOD   261,436    163,563 
CASH AT END OF THE PERIOD  $27,947   $43,755 
           
Supplemental Disclosure of Cash Flow Information          
           
Cash paid for interest  $-   $- 
Cash paid for taxes  $-   $- 
           
Supplemental Disclosure of Non-Cash Investing and Financing Activities          
           
Financing fees payable to a related party related to the issuance of convertible debentures  $-   $18,400 
Debt discount and derivative liability associated with convertible notes payable  $176,274   $- 

 

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

 

4

 

BRAIN SCIENTIFIC INC. AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

March 31, 2020

(unaudited)

 

NOTE 1 – ORGANIZATION AND NATURE OF OPERATIONS

 

Brain Scientific Inc. (the “Company”), was incorporated under the laws of the state of Nevada on November 18, 2013 under the name All Soft Gels Inc. The Company on September 21, 2018 acquired MemoryMD, Inc. (“MemoryMD”), a privately held Delaware corporation formed in February 2015. Upon completion of the acquisition, MemoryMD is treated as the surviving entity and accounting acquirer although the Company was the legal acquirer. Accordingly, the Company’s historical financial statements are those of MemoryMD, the surviving entity and accounting acquirer. MemoryMD is a cloud computing, data analytics and medical device technology company in the NeuroTech and brain monitoring industries seeking to commercialize its EEG devices and caps. The Company is headquartered in New York, New York.

 

Reverse Merger and Corporate Restructure

 

On September 21, 2018, the Company entered into a merger agreement (the “Merger Agreement”) with MemoryMD and AFGG Acquisition Corp. to acquire MemoryMD (the “Acquisition”). The transactions contemplated by the Merger Agreement were consummated on September 21, 2018 and, pursuant to the terms of the Merger Agreement, all outstanding shares of MemoryMD were exchanged for shares of the Company’s common stock. Accordingly, the Company acquired 100% of MemoryMD in exchange for the issuance of shares of the Company’s common stock and MemoryMD became the Company’s wholly owned subsidiary. The Company issued an additional 4,083,252 shares of its common stock upon the automatic conversion at the closing of an aggregate of $1,507,000 principal amount plus accrued interest of outstanding convertible promissory notes issued by MemoryMD, and it further issued an additional 1,604,378 shares of its common stock upon the automatic conversion immediately subsequent to the closing of an aggregate of $640,000 principal amount plus accrued interest of outstanding convertible promissory notes issued by MemoryMD. Furthermore, as of the closing, Mr. Amer Samad, the sole director and executive officer until the consummation of the Acquisition, committed to tender for cancellation 6,495,000 shares of the Company’s common stock as part of the conditions to closing, of which 6,375,000 have been cancelled at December 31, 2018 and 120,000 are expected to be cancelled as soon as practicable. Total shares issued as a result of the Acquisition was 13,421,752.

 

The Acquisition has been accounted for as a reverse recapitalization of Brain Scientific by MemoryMD, but in substance as a capital transaction, rather than a business combination since Brain Scientific had nominal or no operations and assets prior to and as of the closing of the Acquisition. The transaction is deemed a reverse recapitalization and the accounting is similar to that resulting from a reverse acquisition, except that no goodwill or other intangible assets should be recorded. For accounting purposes, MemoryMD is treated as the surviving entity and accounting acquirer although Brain Scientific was the legal acquirer. Accordingly, the Company’s historical financial statements are those of MemoryMD.

 

All references to common stock, share and per share amounts have been retroactively restated to reflect the reverse recapitalization as if the transaction had taken place as of the beginning of the earliest period presented.

 

Assignment and Assumption Agreement

 

As of immediately prior to the closing of the Acquisition, the Company entered into an Assignment and Assumption Agreement with Chromium 24 LLC, pursuant to which Chromium 24 LLC assumed all of the Company’s remaining assets and liabilities through the closing of the Acquisition. Accordingly, as of the closing of the Acquisition, Brain Scientific had no assets or liabilities other than the shares of MemoryMD acquired in the Acquisition.

 

Name Change and Increase in Authorized Shares

 

On September 18, 2018, the Company filed an amendment to its certificate of incorporation with the Nevada Secretary of State to change its name to Brain Scientific Inc. On September 18, 2018, FINRA approved of the name change as well as a ticker symbol change, which was effective as of September 19, 2018. In addition, the Company increased its authorized shares of common stock from 50,000,000 to 200,000,000 and created and authorized 10,000,000 shares of undesignated preferred stock.

 

5

 

BRAIN SCIENTIFIC INC. AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

March 31, 2020

(unaudited)

 

Unaudited Interim Financial Information

 

The Company has prepared the accompanying condensed consolidated financial statements pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”) for interim financial reporting. These consolidated financial statements are unaudited and, in the Company’s opinion, include all adjustments, consisting of normal recurring adjustments and accruals necessary for a fair presentation of its balance sheets, operating results, and cash flows for the periods presented. Operating results for the periods presented are not necessarily indicative of the results that may be expected for 2020. Certain information and footnote disclosures normally included in consolidated financial statements prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) have been omitted in accordance with the rules and regulations of the SEC. These consolidated financial statements should be read in conjunction with the audited financial statements and accompanying notes.

 

NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

 

Basis of Presentation

 

The accompanying consolidated financial statements have been prepared in accordance with GAAP.

 

Principles of Consolidation

 

The Company evaluates the need to consolidate affiliates based on standards set forth in ASC 810 Consolidation (“ASC 810").

 

The consolidated financial statements include the accounts of the Company and its subsidiaries, MemoryMD and MemoryMD - Russia. The operations of the newly formed 100% wholly owned subsidiary, MemoryMD – Russia, are included beginning April 1, 2019. All significant consolidated transactions and balances have been eliminated in consolidation.

 

Use of Estimates

 

The preparation of financial statements in accordance with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Significant estimates include the useful life of property and equipment and assumptions used in the valuation of options and warrants.

 

Cash and Cash Equivalents

 

The Company considers all highly liquid temporary cash investments with an original maturity of three months or less to be cash equivalents. At March 31, 2020 and December 31, 2019, the Company had no cash equivalents.

 

The Company’s cash is held with financial institutions, and the account balances may, at times, exceed the Federal Deposit Insurance Corporation (FDIC) insurance limit. Accounts are insured by the FDIC up to $250,000 per financial institution. The Company has not experienced any losses in such accounts with these financial institutions. As of March 31, 2020 and December 31, 2019, the Company had $0 and $11,436, respectively, in excess over the FDIC insurance limit.

 

Inventory

 

Inventory consists of finished goods that are valued at lower of cost or market using the weighted average method.  As of March 31, 2020 and December 31, 2019, the Company had inventory totaling $371 and $0, respectively.

 

Property, Equipment and Depreciation

 

Property and equipment are recorded at cost, less depreciation. Depreciation is computed using the straight-line method over the estimated useful lives of the assets. Expenditures for repair and maintenance are charged to operations as incurred. Property and equipment consisted of computer equipment, with an estimated useful life of three years. Depreciation expense was $341 and $299 for the three months ended March 31, 2020 and 2019, respectively.

 

6

 

BRAIN SCIENTIFIC INC. AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

March 31, 2020

(unaudited)

 

 

Convertible Notes Payable

 

The Company has issued convertible notes, which contain variable conversion features, whereby the outstanding principal and accrued interest automatically convert into common shares at a fixed price which may be at a discount to the common stock at the time of conversion. For certain notes, the conversion features of these notes are contingent upon future events, whereby, the holder agreed not to convert until the contingent future event has occurred.

 

Derivative Instruments

 

The Company evaluates its convertible notes and warrants to determine if those contracts or embedded components of those contracts qualify as derivatives to be separately accounted for in accordance with ASC 815. The result of this accounting treatment is that the fair value of the embedded derivative is recorded as a liability and marked-to-market each balance sheet date. In the event that the fair value is recorded as a liability, the change in fair value is recorded in the statements of operations as other income or expense. Upon conversion or exercise of a derivative instrument, the instrument is marked to fair value at the conversion date and then that fair value is reclassified to equity.

 

The Company utilizes the Monte Carlo Method that values the liability of the debt conversion feature derivative financial instruments and derivative warrants based on a probability of a down round event. The reason the Company selected the lattice binomial model is that in many cases there may be multiple embedded features or the features of the bifurcated derivatives may be so complex that a Black-Scholes valuation does not consider all of the terms of the instrument. Therefore, the fair value may not be appropriately captured by simple models. 

 

From time to time, certain of the Company’s embedded conversion features on debt and outstanding warrants have been treated as derivative liabilities for accounting purposes under ASC 815 due to insufficient authorized shares to fully settle conversion features of the instruments if exercised. In this case, the Company utilized the latest inception date sequencing method to reclassify outstanding instruments as derivative instruments. These contracts were recognized at fair value with changes in fair value recognized in earnings until such time as the conditions giving rise to such derivative liability classification were settled.

 

Revenue Recognition

 

On January 1, 2018, the Company adopted ASC Topic 606 Revenue from Contracts with Customers. This guidance requires an entity to recognize revenue by applying the following steps:  (1) identify the contract with a customer; (2) identify the performance obligations in the contract; (3) determine the transaction price; (4) allocate the transaction price to each performance obligation in the contract; and (5) recognize revenue when each performance obligation is satisfied. Once the steps are met, revenue is recognized, generally upon receiving a letter of acceptance from the customer. There has been no material effect on the Company’s financial statements as a result of adopting Topic 606.

 

The Company recognizes revenue from the sale of NeuroCaps, Universal as well as revenue from the sale of goods purchased through manufacturers of medical devices. All revenue for the three months ended March 31, 2020 is from the sale of medical devices purchased from Neurotech, a related party.

 

Research and Development Costs

 

The Company expenses all research and development costs as they are incurred. Research and development includes expenditures in connection with in-house research and development salaries and staff costs, application and filing for regulatory approval of proposed products, regulatory and scientific consulting fees, as well as contract research, data collection, and monitoring, related to the research and development of the cloud infrastructure, data imaging, and proprietary products and technology. Research and development costs recognized in the statement of operations for the three months ended March 31, 2020 and 2019 were $96,390 and $22,290, respectively.

 

7

 

BRAIN SCIENTIFIC INC. AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

March 31, 2020

(unaudited)

 

Sales and Marketing

 

Advertising and marketing costs are expensed as incurred. Advertising and marketing costs recognized in the statement of operations for the three months ended March 31, 2020 and 2019 were $40,584 and $47,792, respectively.

 

Stock-based Compensation

 

The Company measures and recognizes compensation expense for all stock-based payments at fair value over the requisite service period. The Company uses the Black-Scholes option pricing model to determine the weighted average fair value of options and warrants. Equity-based compensation expense is recorded in administrative expenses based on the classification of the employee or vendor. The determination of fair value of stock-based payment awards on the date of grant using an option-pricing model is affected by our stock price as well as by assumptions regarding a number of subjective variables. These variables include, but are not limited to, the expected stock price volatility over the term of the awards, and actual and projected employee stock option exercise behaviors.

 

Basic and Diluted Net Loss Per Common Share

 

Basic net loss per share is computed by dividing the net loss by the weighted average number of common shares outstanding during the period. Diluted net loss per common share is computed by dividing the net loss by the weighted average number of common shares outstanding for the period and, if dilutive, potential common shares outstanding during the period. Potentially dilutive securities consist of the incremental common shares issuable upon exercise of common stock equivalents such as stock options, warrants and convertible debt instruments. Potentially dilutive securities are excluded from the computation if their effect is anti-dilutive. As a result, the basic and diluted per share amounts for all periods presented are identical. In the three months ended March 31, 2020 2,302,250 anti-dilutive securities were excluded from the computation.

  

Fair Value of Financial Instruments

 

The Company’s financial instruments are measured and recorded at fair value based on inputs and assumptions that market participants would use in pricing an asset or a liability. Fair value is defined as the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. When determining fair value, management considers the principal or most advantageous market in which the Company would transact, and also considers assumptions that market participants would use when pricing the asset or liability, such as inherent risk, transfer restrictions, and risk of non-performance.

 

Fair value is determined for assets and liabilities using a three-tiered value hierarchy into which these assets and liabilities are grouped based upon significant inputs as follows:

 

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

 

  Level 2 - Observable inputs, other than Level 1 prices, such as quoted prices in active markets for similar assets and liabilities, quoted prices for identical or similar assets and liabilities in markets that are not active, or other inputs that are observable or can be corroborated by observable market data.

 

  Level 3 - Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. This includes certain pricing models, discounted cash flow methodologies and similar techniques that use significant unobservable inputs. When a determination is made to classify a financial instrument within Level 3, the determination is based upon the lack of significance of the observable parameters to the overall fair value measurement. However, the fair value determination for Level 3 financial instruments may consider some observable market inputs.

 

The lowest level of significant input determines the placement of the entire fair value measurement in the hierarchy. The carrying values of cash, prepaid expenses and other current assets, convertible notes, accounts payable, loans payable and due to others approximate fair value due to the short-term nature of these items.

 

8

 

BRAIN SCIENTIFIC INC. AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

March 31, 2020

(unaudited)

 

The Company did not have any other Level 1 or Level 2 assets or liabilities as of March 31, 2020 and the Company did not have any other Level 1, Level 2 or Level 3 assets or liabilities as of December 31, 2019.

 

Fair Value of Financial Assets and Liabilities Measured on a Recurring Basis

 

Financial liabilities measured at fair value on a recurring basis are summarized below and disclosed on the consolidated balance sheet as of March 31, 2020.

 

Liabilities  Amounts at Fair Value   Level 1   Level 2   Level 3 
Derivative liability – conversion feature  $308,641   $         -   $-   $308,641 
Derivative liability - warrants   263,202    -    -    263,202 
Total  $571,843   $-   $-   $571,843 

 

Income Taxes

 

The Company accounts for income taxes using the asset-and-liability method in accordance with ASC Topic 740, “Income Taxes”. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on the deferred tax assets and liabilities of a change in tax rate is recognized in the period that includes the enactment date. A valuation allowance is recorded if it is more-likely-than-not that some portion or all of the deferred tax assets will not be realized in future periods.

 

The Company follows the guidance in ASC Topic 740-10 in assessing uncertain tax positions. The standard applies to all tax positions and clarifies the recognition of tax benefits in the financial statements by providing for a two-step approach of recognition and measurement. The first step involves assessing whether the tax position is more-likely-than-not to be sustained upon examination based upon its technical merits. The second step involves measurement of the amount to be recognized. Tax positions that meet the more-likely-than-not threshold are measured at the largest amount of tax benefit that is greater than 50% likely of being realized upon ultimate finalization with the taxing authority. The Company recognizes the impact of an uncertain income tax position in the financial statements if it believes that the position is more likely than not to be sustained by the relevant taxing authority. The Company will recognize interest and penalties related to tax positions in income tax expense. As of March 31, 2020 and December 31, 2019, the Company had no unrecognized uncertain income tax positions.

 

On December 22, 2017, the passage of legislation commonly referred to as the Tax Cuts and Jobs Act (“TCJA”) was enacted and significantly revised the U.S. income tax law. The TCJA includes changes, which reduce the corporate income tax rate from 34% to 21% for years beginning after December 31, 2017. On December 22, 2017, Staff Accounting Bulletin No. 118 (“SAB 118") was issued and allows a company to recognize provisional amounts when it does not have the necessary information available, prepared or analyzed, including computations, in reasonable detail to complete its accounting for the change in tax law. SAB 118 provides for a measurement of up to one year from the date of enactment.

 

Recent Issued Accounting Pronouncements

 

From time to time, new accounting pronouncements are issued by the Financial Accounting Standard Board (“FASB”) or other standard setting bodies that the Company adopts as of the specified effective date. Unless otherwise discussed, the Company does not believe that the impact of recently issued standards that are not yet effective will have a material impact on the Company’s financial position or results of operations upon adoption.

 

In June 2016, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update (“ASU”) 2016-13, “Measurement of Credit Losses on Financial Instruments,” which requires measurement and recognition of expected credit losses at the point a loss is probable to occur, rather than expected to occur, which will generally result in earlier recognition of allowances for credit losses. The new guidance is effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. The Company adopted ASU 2016-13 in the first quarter of 2020 and the adoption did not have a material impact on its condensed consolidated financial statements.

 

9

 

BRAIN SCIENTIFIC INC. AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

March 31, 2020

(unaudited)

 

NOTE 3 – GOING CONCERN

 

The accompanying financial statements have been prepared in conformity with U.S. GAAP, which contemplate continuation of the Company as a going concern for a period of one year from the issuance of these financial statements. For the three months ended March 31, 2020, the Company had $133,845 in revenues, a net loss of $951,660 and had net cash used in operations of $252,319. Additionally, as of March 31, 2020, the Company had working capital deficit, stockholders’ deficit and accumulated deficit of $1,833,662, $1,832,329 and $4,623,737 respectively. It is management’s opinion that these conditions raise substantial doubt about the Company’s ability to continue as a going concern for a period of twelve months from the date of the issuance of these financial statements.

 

The financial statements do not include any adjustments to reflect the possible future effect on the recoverability and classification of assets or the amounts and classifications of liabilities that may result from the outcome of this uncertainty.

 

Successful completion of the Company’s development program and, ultimately, the attainment of profitable operations are dependent upon future events, including obtaining adequate financing to fulfill its development activities, acceptance of the Company’s patent applications and ultimately achieving a level of sales adequate to support the Company’s cost structure. However, there can be no assurances that the Company will be able to secure additional equity investments or achieve an adequate sales level.

 

NOTE 4 – CONVERTIBLE NOTES PAYABLE

 

In January 2019, the Company commenced an offering of up to $500,000 pursuant to which the Company will issue convertible notes to investors. On January 18, 2019, February 5, 2019 and July 23, 2019, the Company issued three such convertible notes payable to three investors for $100,000, $130,000 and $150,000, respectively. The notes bear interest at a fixed rate of 10% per annum, computed based on a 360-day year and mature on the earlier of one year from the date of issuance or the consummation of an equity or equity-linked round of financing of the Company in excess of $1,000,000 (“Qualified Financing”) or other event pursuant to which conversion shares are to be issued pursuant to the terms of the note. On February 28, 2020, the Company and the holder of the January 18, 2019 convertible note agreed to extend the maturity date of the January 18, 2019 convertible note to January 18, 2021. Also on February 28, 2020, the Company and the holder of the February 5, 2019 convertible note agreed to extend the maturity date of the February 5, 2019 convertible note to February 5, 2021.

 

The notes are convertible into common stock of the Company following events on the following terms: with no action on the part of the note holder upon the consummation of a Qualified Financing, the debt will be converted to new round stock based on the product of the outstanding principal and accrued interest multiplied by 1.35, then divided by the accrual per share price of the new round common stock. If a change of control occurs or if the Company completes a firmly underwritten public offering of its common stock prior to the Qualified Financing the notes would, at the election of the holders of a majority of the outstanding principal of the notes, be either payable on demand as of the closing of such change of control or Initial Public Offering (‘IPO”) or convertible into shares of common stock immediately prior to such change of control transaction or IPO transaction at a price per share equal to the lesser of the per share value of the common stock as determined by the Company’s Board of Directors or the per share consideration to be received by the holders of the common stock in such change of control or IPO transaction. Based on the terms of the conversion, the holders may receive a discount, and the notes are considered to have a contingent beneficial conversion feature. If conversion of the debt occurs, the Company will recognize an expense related to the intrinsic value. The Company recorded $37,541of accrued interest and has a total outstanding principal balance of $380,000 as of March 31, 2020.

 

In the event that the Company consummates a financing prior to the Maturity Date, other than a Qualified Financing, and the economic terms thereof are more favorable to the investors in such financing than the terms of the note, the note shall automatically be amended to reflect such more favorable economic terms.

 

10

 

BRAIN SCIENTIFIC INC. AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

March 31, 2020

(unaudited)

 

December 31, 2019 Securities Purchase Agreement

 

On December 31, 2019, the Company entered into a Securities Purchase Agreement and issued and sold to a third party (the “Investor”) a Convertible Note in the original principal amount of $275,000 (the “Note”), and a warrant to purchase 100,000 shares of the Company’s common stock (the “Warrant”). The aggregate purchase price received by the Company was $250,000 after an original issue discount of $25,000. A one-time interest charge of 8% was applied on December 31, 2019 and will be payable, along with the Principal, on July 31, 2020 (the “Maturity Date”), as may be extended at the option of the Investor.

 

The unpaid outstanding principal amount and accrued and unpaid interest under the Note shall be convertible into shares of the Company’s common stock at any time at the option of the Investor. The conversion price shall be equal to 80% multiplied by the price per share paid by the investors in the next capital raising transaction consummated by the Company in the amount of $1,000,000 or more (the “Qualified Financing”), subject to adjustments as provided in the Note. In the event the Investor elects to convert the Note prior to a Qualified Financing, the conversion price shall be the effective exercise price per share from time to time pursuant to the Warrant. At any time prior to the Maturity Date, upon 10 business days’ notice to the Investor, the Company shall have the right to pre-pay the entire remaining principal amount of the Note subject to the pre-payment terms contained in the Note. The note is valued at face value and not considered a derivative since the Qualified Financing is at the control of the Company. The Company recorded $9,429 of accrued interest and has a total outstanding principal balance of $275,000 as of March 31, 2020.

 

The Note contains a price-based anti-dilution provision, pursuant to which the conversion price of the Note shall be reduced upon the occurrence of certain dilutive issuances of Company securities as set forth in the Note. The conversion of the Note is also subject to a beneficial ownership limitation of 4.99% of the number of shares of common stock outstanding immediately after giving effect to such conversion. In the event the Company, prior to the Maturity Date, issues any Security (as defined in the Note) with any term more favorable to the holder of such Security or with a term in favor of the holder of such Security that was not similarly provided to the Investor, then at the Investor’s option such term shall become a part of the Note. The Company also agreed to provide piggy-back registration rights to the Investor pursuant to which the Company shall include all shares issuable upon conversion of the Note on the next registration statement the Company files with the Securities and Exchange Commission.

 

The Note contains events of default which, among other things, entitle the Investor to accelerate the due date of the unpaid principal amount of, and all accrued and unpaid interest on, the Note. Upon the occurrence of any event of default, the outstanding balance shall immediately and automatically increase to 130% of the outstanding balance immediately prior to the event of default, and the conversion price of the Note shall be redefined to equal 65% of the lowest trade accruing during the 10 consecutive Trading Days (as defined in the Note) immediately preceding the applicable Conversion Date (as defined in the Note). Nickolay Kukekov, a director of the Company, and a third party, each has personally guaranteed the repayment of the Note.

 

The Warrant has an exercise price of $1.25 per share (the “Exercise Price”), subject to adjustments as provided in the Warrant, and has a term of five years. The Warrant contains a price-based anti-dilution provision, pursuant to which the exercise price of the Warrant shall be reduced upon the occurrence of certain dilutive issuances of securities as set forth in the Warrant, with a corresponding increase in the number of shares underlying the Warrant if the dilutive event occurs during the first three years of the Warrant, and a cashless exercise provision. The exercise of the Warrant is subject to a beneficial ownership limitation of 9.99% of the number of shares of common stock outstanding immediately after giving effect to such exercise. The Company calculated the Warrants at fair value of $130,768 using the Monte Carlo model, which was recognized as a discount to the Note and is being amortized as interest expense over the remaining term of the notes.

 

In the year ended December 31, 2019, the Company recorded a total debt discount of $155,768 related to the above convertible notes. On March 18, 2020, the Company recorded an additional debt discount of $176,274 related to the above convertible notes. Amortization of the debt discount is recorded as interest expense and a total of $83,523 was amortized during the three months ended March 31, 2020.

 

11

 

BRAIN SCIENTIFIC INC. AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

March 31, 2020

(unaudited)

 

Derivative Accounting for the Convertible Notes Payable

 

The Company evaluated the terms and conditions of the Note under the guidance of ASC 815. The conversion terms of the convertible notes are variable based on certain factors, such as the future price of the Company’s common stock. The number of shares of common stock to be issued is based on the future price of the Company’s common stock. The number of shares of common stock issuable upon conversion of the promissory note is indeterminate. Due to the fact that the number of shares of common stock issuable could exceed the Company’s authorized share limit, the equity environment is tainted, and all additional convertible debentures and warrants are included in the value of the derivative liabilities. Pursuant to ASC 815-15 Embedded Derivatives, the fair values of the variable conversion options and warrants and shares to be issued were recorded as derivative liabilities on the issuance date and revalued at each reporting period.

 

Certain of the Company’s embedded conversion features on debt and outstanding warrants are treated as derivative liabilities for accounting purposes under ASC 815 due to insufficient authorized shares to settle these outstanding contracts, or due to other rights connected with these contracts, such as registration rights. In the case of insufficient authorized share capital available to fully settle outstanding contracts, the Company utilizes the issuance date sequencing method to reclassify outstanding contracts as derivative instruments. These instruments do not trade in an active securities market.

 

Derivative Liabilities

 

The table below provides a summary of the changes in fair value, including net transfers in and/or out of all financial liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) during the three months ended March 31, 2020:

 

   Amount 
Balance on December 31, 2019  $- 
Issuances to debt discount   176,274 
Issuances to interest expense   348,350 
Change in fair value of derivative liabilities   39,916 
Change in fair value of warrant liabilities   7,303 
Balance on March 31, 2020  $571,843 

 

The fair value of the derivative conversion features and warrant liabilities as of March 31, 2020 were calculated using a Monte-Carlo option model valued with the following assumptions:

 

    March 31,
2020
 
Dividend yield   0 %
Expected volatility     108% - 130.3 %
Risk free interest rate     0.21% - 0.51 %
Contractual terms (in years)     0.08 – 4.50  
Conversion/Exercise price   $ 0.80 - $1.25  

 

NOTE 5 – PROMISSORY NOTES

 

October 23, 2019 Note

 

On October 23, 2019, an investor of the Company subscribed for a promissory note (the “October Note”) and loaned to the Company $50,000.

 

The October Note bears interest at a fixed rate of 14% per annum, computed based on a 360-day year of twelve 30-day months, which interest will be payable quarterly until the maturity date. The principal amount and any accrued and unpaid interest due under the October Note is payable on October 21, 2020. The Company recorded $1,359 of accrued interest and has a total outstanding principal balance of $50,000 as of March 31, 2020.

 

The October Note contains customary events of default, which, if uncured, entitle the lender to accelerate the due date of the unpaid principal amount of, and all accrued and unpaid interest on, the October Note. 

 

12

 

BRAIN SCIENTIFIC INC. AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

March 31, 2020

(unaudited)

 

February 21, 2020 Note

 

On February 21, 2020, a third party loaned the Company $20,000, evidenced by a non-convertible promissory note (the “February Note”). The February Note bears interest at a fixed rate of 12% per annum, computed based on a 360-day year of twelve 30-day months, which interest will be payable quarterly until the maturity date. The principal amount and any accrued and unpaid interest due under the February Note is payable on July 1, 2020. The Company recorded $260 of accrued interest and has a total outstanding principal balance of $20,000 as of March 31, 2020.

 

The February Note contains customary events of default, which, if uncured, entitle the lender to accelerate the due date of the unpaid principal amount of, and all accrued and unpaid interest on, the February Note.

 

NOTE 6 – OTHER LIABILITIES

 

In 2016, the Company recorded a liability in connection with the sale of two Electroencephalograms (“EEG”) machines as it provided a guarantee to the customer’s financing company (See Note 2). In June 2017, the customer defaulted on its payments and an additional $19,107 was booked as a liability and recognized as a loss on the sale of the assets for interest and some taxes related to the transaction. As of March 31, 2020 and December 31, 2019, total liability to the financing company reflected in Other Liabilities is $4,595 and $6,377, respectively.

 

Future minimum commitments related to the EEG liability consisted of the following at March 31, 2020:

 

Years ended December 31,  Amount (USD) 
Remainder 2020   4,595 
Total  $4,595 

 

NOTE 7 – RELATED PARTY TRANSACTIONS

 

During the year ended December 31, 2018, an entity controlled by Mr. Vadim Sakharov, former CEO of the Company and current director and executive officer, provided a $50,000 non-interest-bearing, no-term loan to the Company. An additional $5,530 of non-interest bearing no-term proceeds were loaned to the Company during the year ended December 31, 2019. As of March 31, 2020, and December 31, 2019, the balance was $55,530 and $55,530, respectively.

 

During the three months ended March 31, 2020 and 2019, the Company had expenses related to research and development costs of $10,200 and $0, respectively, to an entity controlled by Mr. Sakharov.

 

During the year ended December 31, 2019, an affiliate of Boris Goldstein, the Company’s Chairman of the Board, provided an aggregate total of $50,000, in non-interest-bearing, no-term loans to the Company. As of March 31, 2020 and December 31, 2019, the balance was $50,000 and $50,000, respectively.

 

On September 1, 2018, the Company entered into a sublease agreement with a company controlled by the Company’s Chairman, whereby the Company makes payments to the related party for shared office space. This lease was terminated on March 31, 2019. For the three months ended March 31, 2020 and 2019, the Company has made approximately $0 and $4,900, respectively, in rent payments to the related party.

 

During the year ended December 31, 2019, an affiliate of Nickolay Kukekov, a director of the Company, provided an aggregate total of $217,000 in non-interest-bearing, no-term loans to the Company. As of March 31, 2020 and December 31, 2019, the balance was $217,000 and $217,000, respectively.

 

During the three months ended March 31, 2020 and 2019, the Company purchased an aggregate of $101,613 and $0 of medical devices for resale and distribution from Neurotech, a company that Mr. Sakharov is a shareholder and executive manager. 

 

13

 

BRAIN SCIENTIFIC INC. AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

March 31, 2020

(unaudited)

 

NOTE 8 – STOCKHOLDERS’ DEFICIT

 

Preferred Stock

 

The Company has authorized 10,000,000 shares of undesignated preferred stock with a $0.001 par value. As of March 31, 2020, no preferred shares have been issued and these shares are considered blank check preferred shares with no terms, limitations, or rights associated with them.

 

Common Stock

 

The Company has authorized 200,000,000 shares of common stock with a $0.001 par value per share. The holders of common stock are entitled to one vote for each share of common stock held at the time of vote. As of March 31, 2020, the Company had 19,383,794 shares outstanding or deemed outstanding.

  

Shares Issued for Services

 

On August 8, 2018, the Company entered into a one-year agreement with an advisor for consulting services, as extended for an additional one-year period. The Company extended this agreement through August 9, 2020. Pursuant to the agreement, as amended, the Company has the right to pay $5,000 or issue the advisor a maximum of 6,667 shares of common stock on a quarterly basis. The Company elected to issue 1,667 shares for the services provided during the three months ended March 31, 2020 at a value of $3.00 per share or $5,001.

 

On August 28, 2018, the Company entered into a one-year agreement with an advisor for consulting services, as extended for an additional one-year period. The Company has extended this agreement through August 28, 2020. Pursuant to the agreement, as amended, the Company has the right to pay $5,000 or issue the advisor a maximum of 6,667 shares of common stock on a quarterly basis. The Company elected to issue 1,667 shares for the services provided during the three months ended March 31, 2020 at a value of $3.00 per share or $5,001.

 

Warrants

 

The following table summarized the warrant activity for the three months ended March 31, 2020:

 

           Weighted     
       Weighted   Average     
       Average   Remaining   Aggregate 
   Number of   Exercise   Contractual   Intrinsic 
Warrants  Shares   Price   Term   Value 
Balance Outstanding, December 31, 2019   502,250   $0.57    3.98   $         - 
Granted   -    -    -    - 
Forfeited   -    -    -    - 
Exercised   -    -    -    - 
Expired   -    -    -    - 
Balance Outstanding, March 31, 2020   502,250   $0.57    3.73   $- 
                     
Exercisable, March 31, 2020   502,250   $0.57    3.73   $- 

 

Options

 

On January 14, 2019, the Board of Directors approved the issuance of options to purchase an aggregate of 800,000 and 200,000 shares of common stock to Boris Goldstein and Vadim Sakharov, respectively. The options have an exercise price of $0.75 per share which will vest over a 24-month period as follows: 25% (or 200,000 and 50,000, respectively) shall vest six months after the grant date with the remaining options will vest on a monthly basis at a rate of 1/24th per month. The options will expire on January 14, 2029. The aggregate fair value of $17,111 was calculated using the Black-Scholes pricing model with the following assumptions: (i) expected life 10 years, (ii) volatility of 77%, (iii) risk free rate of 2.71% (iv) dividend rate of zero, (v) stock price of $0.042, and (vi) exercise price of $0.75. The expense will be amortized over the vesting period and a total of $10,432 was recorded during the year ended December 31, 2019. A total of $1,595 was recorded during the three months ended March 31, 2020.

 

14

 

BRAIN SCIENTIFIC INC. AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

March 31, 2020

(unaudited)

 

On January 30, 2020, the Board of Directors approved the issuance of options to purchase an aggregate of 800,000 of common stock to Boris Goldstein. The options have an exercise price of $0.75 per share which will vest over a 24-month period on a monthly basis at a rate of 1/24th per month. The options will expire on January 30, 2030. The aggregate fair value of $51,757 was calculated using the Black-Scholes pricing model with the following assumptions: (i) expected life 10 years, (ii) volatility of 76%, (iii) risk free rate of 1.57% (iv) dividend rate of zero, (v) stock price of $0.12, and (vi) exercise price of $0.75. The expense will be amortized over the vesting period. A total of $4,319 was recorded during the three months ended March 31, 2020.

 

The following table summarized the option activity for the three months ended March 31, 2020:

 

           Weighted     
       Weighted   Average     
       Average   Remaining   Aggregate 
   Number of   Exercise   Contractual   Intrinsic 
Options  Shares   Price   Term   Value 
Balance Outstanding, December 31, 2019   1,000,000   $0.75    9.05   $          - 
Granted   800,000    0.75    10    - 
Forfeited   -    -    -    - 
Exercised   -    -    -    - 
Expired   -    -    -    - 
Balance Outstanding, March 31, 2020   1,800,000   $0.75    9.26   $- 
                     
Exercisable, March 31, 2020   818,750   $0.75    8.92   $- 

 

For future periods, the remaining value of the stock options totaling approximately $52,523 will be amortized into the statement of operations consistent with the period for which the services will be rendered.  

 

NOTE 9 – COMMITMENTS AND CONTINGENCIES

 

Operating Leases

 

In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842), which requires lessees to recognize most leases on their balance sheets as a right-of-use asset with a corresponding lease liability. Lessor accounting under the standard is substantially unchanged. Additional qualitative and quantitative disclosures are also required. The Company adopted the standard effective January 1, 2019 using the cumulative-effect adjustment transition method, which applies the provisions of the standard at the effective date without adjusting the comparative periods presented. The Company adopted the following practical expedients and elected the following accounting policies related to this standard update:

 

  The option to not reassess prior conclusions related to the identification, classification and accounting for initial direct costs for leases that commenced prior to January 1, 2019.

 

  Short-term lease accounting policy election allowing lessees to not recognize right-of-use assets and liabilities for leases with a term of 12 months or less.

 

  The option to not separate lease and non-lease components for certain equipment lease asset categories such as freight car, vehicles and work equipment.

 

  The package of practical expedients applied to all of its leases, including (i) not reassessing whether any expired or existing contracts are or contain leases, (ii) not reassessing the lease classification for any expired or existing leases, and (iii) not reassessing initial direct costs for any existing leases.

  

As a result of the above, the adoption of ASC 842 did not have a material effect on the consolidated financial statements. The Company will review for the existence of embedded leases in future agreements.

 

15

 

BRAIN SCIENTIFIC INC. AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

March 31, 2020

(unaudited)

 

The Company has inventoried all leases where the Company is a lessee as of the initial date of application and has examined other contracts with suppliers, vendors, customers and other outside parties to identify whether such contracts contain an embedded lease as defined under the new guidance. The Company’s lease population comprises lease for corporate office space and a warehouse that are year-to-year basis with monthly rent ranging from approximately $150 to $3,200 and qualify under the practical expedient of short-term leases. The Company does not have exclusive rights of control to any assets in the customer and vendor contracts reviews and does not have any financing leases as of the date of adoption of ASC 842.

 

Beginning January 1, 2020, the Company entered into a 12-month lease agreement ending December 31, 2020, with a third party in Russia. The Company is paying rent at a rate of 17,900 Rubles ($227) per month.

 

Beginning June 1, 2019, the Company entered into a 10-month lease agreement ending March 31, 2020 with a third party in Russia. The Company is paying rent at a rate of 12,000 Rubles ($152) per month.

 

Additionally, the Company also rents a warehouse. Beginning December 1, 2018, the Company entered into a 6-month warehouse rental agreement for $2,980 per month. The lease was renewed on June 1, 2019 for an additional year ending May 31, 2020, for $3,171 per month.

 

Total rent expense for the three months ended March 31, 2020 and 2019 was $11,638 and $22,060 respectively.

 

Equity Incentive Plan

 

As of September 21, 2018, the Company’s board of directors adopted, and stockholders approved the 2018 Equity Incentive Plan (“the 2018 Plan”). The 2018 Plan has a 10-year term, which terminates on the day prior to the 10th anniversary of its adoption by the Board. Under the 2018 Plan, the Company may grant equity-based incentive awards, including options, restricted stock, and other stock-based awards, to any directors, employees, advisers, and consultants that provide services to the Company. The vesting period, term and exercise price will be determined at the time of the grant. An aggregate of up to 3,500,000 of the Company’s common stock are reserved for issuance under the 2018 Plan. As of March 31, 2020 the Company has granted 1,800,000 options and has 1,800,000 options outstanding under the 2018 Plan (see Note 8).

 

NOTE 10 - RESTATEMENT

 

The Company, while undergoing the review of its consolidated financial statements for the six months ended June 30, 2020, commenced an evaluation of its accounting in connection with the Note (as defined in Note 4) for derivative accounting in accordance with ASC 815. Management originally deemed these agreements to be fixed in nature and a derivative would not need be recognized. On August 12, 2020, under the authority of the board of directors, the Company determined that these agreements and underlying warrants should have been recorded as a derivative with changes in the fair value of the derivate to be recorded in the condensed consolidated statement of operations and comprehensive loss (see Note 4). Accordingly, the Company has restated the condensed consolidated interim financial statements and included the required disclosures for the three months ended March 31, 2020.

 

The following table sets forth the effects of the adjustments on affected items within the Company’s previously reported Condensed Consolidated Balance Sheet at March 31, 2020:  

 

   March 31, 2020 
   As Reported   Adjustment   As Restated 
Convertible notes payable, net  $565,781   $(159,299)  $406,482 
Derivative liabilities  $-   $571,843   $571,843 
Current liabilities  $1,467,171   $412,544   $1,879,715 
Total liabilities  $1,467,171   $412,544   $1,879,715 
Accumulated deficit  $(4,211,193)  $(412,544)  $(4,623,737)
Total stockholders’ deficit  $1,419,785   $(412,544)  $(1,832,329)

 

16

 

BRAIN SCIENTIFIC INC. AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

March 31, 2020

(unaudited)

 

The following table sets forth the effects of the adjustments on affected items within the Company’s previously reported Condensed Consolidated Statement of Operations and Comprehensive Loss for the three months ended March 31, 2020:

 

   March 31, 2020 
   As Reported   Adjustment   As Restated 
Interest expense  $(88,291)  $(365,325)  $(453,616)
Change in fair market value of derivative liabilities  $-   $(47,219)  $(47,219)
Net Loss  $(539,116)  $(412,544)  $(951,660)
Total comprehensive loss  $(540,169)  $(412,544)  $(952,713)
Net loss per common share, basic and diluted  $(0.03)  $(0.02)  $(0.05)

 

NOTE 11 – SUBSEQUENT EVENTS

 

In accordance with ASC 855 “Subsequent Events,” Company management reviewed all material events through the date this report was issued, and the following subsequent events took place.

 

The Effects of COVID-19

 

The World Health Organization (WHO) declared the coronavirus outbreak a pandemic on January 30, 2020. Since the outbreak in China in December 2019, COVID-19 has expanded its impact to Europe, where all of our operations reside, as well as our employees, suppliers and customers. While the disruption is currently expected to be temporary, there is considerable uncertainty around the duration of the closings and shelter-in-place orders and the ultimate impact of governmental initiatives. However, the financial impact and duration cannot be reasonably estimated at this time.

 

Convertible Grid Notes

 

On April 21, 2020, the Company issued a Convertible Grid Promissory Note (the “Caleca Note”) to Thomas J. Caleca (“Caleca”), an existing stockholder of the Company, pursuant to which Caleca agreed to advance to the Company the aggregate principal amount of $125,000 (the “Caleca Aggregate Advance”). The Company also issued to Caleca a common stock purchase warrant (the “Caleca Warrant”), granting Caleca the right to purchase up to 750,000 shares of the Company’s common stock at a per share exercise price of $0.80 (subject to adjustment as set forth in the Caleca Warrant). 

 

Also on April 21, 2020, the Company issued a Convertible Grid Promissory Note (the “Brown Note”, and together with the Caleca Note, the “Grid Notes”) to Andrew Brown (“Brown”, and together with Caleca, the “Grid Investors”), an existing stockholder of the Company, pursuant to which Brown agreed to advance to the Company the aggregate principal amount of $125,000 (the “Brown Aggregate Advance”, and together with the Caleca Aggregate Advance, the “Aggregate Advance”). The Company also issued to Brown a common stock purchase warrant (the “Brown Warrant”, and together with the Caleca Warrant, the “2020 Warrants”), granting Brown the right to purchase up to 750,000 shares of the Company’s common stock at a per share exercise price of $0.80 (subject to adjustment as set forth in the Brown Warrant). The 2020 Warrants are exercisable at any time commencing on the eighteen-month anniversary of the issuance of the 2020 Warrants (as may be accelerated pursuant to the terms of the 2020 Warrants) and expiring on the five-year anniversary of the issuance of the 2020 Warrants. 

 

17

 

BRAIN SCIENTIFIC INC. AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

March 31, 2020

(unaudited)

 

On April 22, 2020, the Grid Investors each made their first cash advance of $25,000 pursuant to the terms of the Grid Notes, for an aggregate cash advance to the Company of $50,000 (the “First Advance”). The Grid Investors shall make additional cash advances to the Company pursuant to the terms of their Grid Notes.

 

The Grid Notes bear interest on the unpaid balances at a fixed simple rate of twelve percent (12%) per annum (subject to a rate increase if the Company commits an Event of Default (as defined in the Grid Notes)), computed based on a 360-day year of twelve 30-day months, commencing on the date of the respective advance and payable quarterly. The principal amount of the Aggregate Advance, or so much thereof as has been advanced to the Company by the Grid Investors from time to time pursuant to the Grid Notes, will be payable on April 21, 2021 (the “Maturity Date”), unless sooner converted into shares of the Company’s common stock pursuant to the terms of the Grid Notes.

 

The unpaid outstanding principal amount and accrued and unpaid interest under the Grid Notes shall be convertible at any time prior to the Maturity Date at the election of the Grid Investors into such number of shares of the Company’s common stock obtained by dividing the amount so converted by $1.00 (the “Conversion Price”). At the Maturity Date, all of the remaining unpaid outstanding principal amount and accrued and unpaid interest (the “Outstanding Balance”) under the Grid Notes shall automatically convert into such number of shares of the Company’s common stock obtained by dividing the Outstanding Balance by the Conversion Price. The Grid Notes may not be prepaid by the Company in whole or in part without the prior written consent of the respective Grid Investor.

 

The Grid Notes contain customary events of default, which, if uncured, entitle the Grid Investors to accelerate the due date of the unpaid principal amount of, and all accrued and unpaid interest on, their Grid Notes.

 

18

 

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

 

Forward Looking Statements

 

The following discussion should be read in conjunction with our unaudited financial statements and related notes included in Item 1, “Financial Statements,” of this Quarterly Report on Form 10-Q. Certain information contained in this MD&A includes “forward-looking statements.” Statements which are not historical reflect our current expectations and projections about our future results, performance, liquidity, financial condition and results of operations, prospects and opportunities and are based upon information currently available to us and our management and their interpretation of what is believed to be significant factors affecting our existing and proposed business, including many assumptions regarding future events. Actual results, performance, liquidity, financial condition and results of operations, prospects and opportunities could differ materially and perhaps substantially from those expressed in, or implied by, these forward-looking statements as a result of various risks, uncertainties and other factors, including those risks described in detail in the section entitled “Risk Factors” of this Quarterly Report on Form 10-Q.

 

Forward-looking statements, which involve assumptions and describe our future plans, strategies, and expectations, are generally identifiable by use of the words “may,” “should,” “would,” “will,” “could,” “scheduled,” “expect,” “anticipate,” “estimate,” “believe,” “intend,” “seek,” or “project” or the negative of these words or other variations on these words or comparable terminology.

 

In light of these risks and uncertainties, and especially given the nature of our existing and proposed business, there can be no assurance that the forward-looking statements contained in this section and elsewhere in this Quarterly Report on Form 10-Q will in fact occur. Potential investors should not place undue reliance on any forward-looking statements. Except as expressly required by the federal securities laws, there is no undertaking to publicly update or revise any forward-looking statements, whether as a result of new information, future events, changed circumstances or any other reason.

 

Overview

 

We are a neurodiagnostic and predictive technology platform company seeking to provide a centralized platform for data acquisition and analysis of EEG data that combines cutting-edge medical device technologies with cloud-based telehealth services. Both our NeuroCap, a pre-gelled disposable EEG headset, and NeuroEEG, a 16 channel, portable, cloud-enabled data acquisition platform for EEG activity, received FDA clearance to market in 2018.

 

On September 21, 2018, we entered into a merger agreement (the “Merger Agreement”) with MemoryMD, Inc. and AFGG Acquisition Corp. to acquire MemoryMD, Inc. (the “Acquisition”). The transactions contemplated by the Merger Agreement were consummated on September 21, 2018 and, pursuant to the terms of the Merger Agreement, all outstanding shares of MemoryMD were exchanged for shares of our common stock. Accordingly, we acquired 100% of Memory MD, Inc. in exchange for the issuance of shares of our common stock and MemoryMD, Inc. became our wholly-owned subsidiary. We issued an additional 4,083,252 shares of our common stock upon the automatic conversion at the closing of an aggregate of $1,507,000 principal amount plus accrued interest of outstanding convertible promissory notes issued by MemoryMD Inc., and we further issued an additional 1,604,378 shares of our common stock upon the automatic conversion immediately subsequent to the closing of an aggregate of $640,000 principal amount plus accrued interest of outstanding convertible promissory notes issued by MemoryMD Inc.

 

As of immediately prior to the closing of the Acquisition, we entered into an Assignment and Assumption Agreement with Chromium 24 LLC, pursuant to which Chromium 24 LLC assumed all of our remaining assets and liabilities through the closing of the Acquisition. Accordingly, as of the closing of the Acquisition, we had no assets or liabilities.

 

Our sole business since the Acquisition is the business of MemoryMD. Our management’s discussion and analysis below is based on the financial results of MemoryMD.

  

We have very limited resources. To date, our primary activities have been limited to, and our limited resources have been dedicated to, performing business and financial planning, raising capital, recruiting personnel, negotiating with business partners and the licensors of our intellectual property and conducting development activities, although we have acted as a distributor of third-party medical devices in Russia (including those purchased from a company affiliated with one of our officers and directors) which has generated revenue for us. Our first products, the NeuroCap and NeuroEEG, are ready for commercialization and sale and we have commenced some non-recurring, initial sales. Our other products are still being tested or are still under development.

 

19

 

We have incurred losses since inception of MemoryMD in 2015 and had an accumulated deficit of $4,623,737 as of March 31, 2020, primarily as a result of expenses incurred in connection with our research and development programs and from general and administrative expenses associated with our operations. We expect to continue to incur significant expenses and increasing operating and net losses for the foreseeable future.

 

Historically, our primary source of cash has been proceeds from the sale of convertible promissory notes and other borrowings. To fund our operations, for the three months ended March 31, 2020, we issued one promissory note for gross proceeds of $20,000. For the year ended December 31, 2019, we issued convertible promissory notes for aggregate gross proceeds of $630,000. In addition, during the fiscal year ended December 31, 2019, we borrowed an aggregate of $273,084 from related parties. Additionally, in April 2020, existing stockholders of the Company agreed to advance to the Company an aggregate amount of $250,000 pursuant to the terms of Convertible Grid Promissory Notes (the “Grid Notes”). As of May 12, 2020, a total aggregate amount of $50,000 has been advanced pursuant to the terms of the Grid Notes.

 

We need to obtain substantial additional funding in connection with our continuing operations through public or private equity or debt financings or other sources, which may include collaborations with third parties. However, we may be unable to raise additional funds when needed on favorable terms or at all. Our failure to raise such capital as and when needed would have a negative impact on our financial condition and our ability to develop and commercialize our products and future products and our ability to pursue our business strategy. See “–Liquidity and Capital Requirements” below.

 

Financial Overview

 

Revenue

 

For the three months ended March 31, 2020, we have generated approximately $134,000 of revenue through our acting as a distributor of third-party medical devices in Russia (including those purchased from a company affiliated with one of our officers and directors), while we continue to commercialize our products. While we intend to continue generating revenues through the sale of third party medical devices, we do not intend for it to be our primary source of revenue in the long-term. We do not expect to generate recurring, material revenue from our products unless or until we successfully commercialize our products. If we fail to successfully commercialize our developed products or fail to complete the development of any other product candidate we may pursue in the future, in a timely manner, or fail to obtain regulatory approval, we may not be able to solely rely on generating substantial and material revenue from the distribution of third-party medical devices.

 

General and Administrative

 

General and administrative expenses consist primarily of personnel-related costs for personnel in functions not directly associated with research and development activities. Other significant costs include legal fees relating to corporate matters, intellectual property costs, professional fees for consultants assisting with regulatory, clinical, product development and financial matters, and product costs. We anticipate that our general and administrative expenses will significantly increase in the future to support our continued research and development activities, commercialization of our products, if approved, and the increased costs of operating as a public company. These increases will include increased costs related to the hiring of additional personnel and fees for legal and professional services, as well as other public company related costs.

  

Research and Development

 

Research and development expenses consist of expenses incurred in performing research and development activities in developing our products. Research and development expenses include compensation and benefits for research and development employees, overhead expenses, cost of laboratory supplies, clinical trial and related clinical manufacturing expenses, costs related to regulatory operations, fees paid to consultants, and other outside expenses. Research and development costs are expensed as incurred and costs incurred by third parties are expensed as the contracted work is performed.

 

20

 

We expect our research and development expenses to remain substantially the same for the next six to nine months as we continue to develop and commercialize our products.  As we develop our cloud-based computing system, we expect our research and development expenses to significantly increase.

 

Interest Expense

 

Interest expense primarily consists of amortized note issuance costs and interest costs related to the convertible notes we issued in 2019. The convertible notes bear interest at fixed rate ranging from 8%-10% per annum.

 

Results of Operations

 

Comparison of the Three Months Ended March 31, 2020 and 2019

 

The following table sets forth the results of operations of the Company for the three months ended March 31, 2020 and March 31, 2019.

 

   Three Months Ended
March 31,
   Period to Period 
   2020   2019   Change 
             
Revenues  $133,845   $2,250   $131,595 
General and administrative  $208,635   $201,241   $7,394 
Research and development  $96,390   $22,290   $74,100 
Professional fees  $123,608   $111,073   $12,535 
Interest expense  $453,616   $8,053   $445,563 
Other income  $1,290   $-   $1,290 

 

Three Months Ended March 31, 2020 and 2019

 

Revenues

 

Revenue for the three months ended March 31, 2020 was $133,845 compared to $2,250 for the three months ended March 31, 2019. In the three months ended March 31, 2020, we generated our revenue through acting as a distributor of third-party medical devices in Russia (including those purchased from a company affiliated with one of our offices and directors). In the three months ended March 31, 2019, our revenue was related to data analysis of the EEG software.

 

General and administrative expenses

 

General and administrative expenses were $208,635 for the three months ended March 31, 2020, compared to $201,241 for the three months ended March 31, 2019. General and administrative costs were in-line quarter over quarter.

   

Research and development expenses

 

Research and development expenses were $96,390 for the three months ended March 31, 2020, compared to $22,290 for the three months ended March 31, 2019. The increase was primarily due to an increase in development activities surrounding the development of a new, modified version of the NeuroCap.

 

Professional fees

 

Professional fees were $123,608 for the three months ended March 31, 2020, compared to $111,073 for the three months ended March 31, 2019. The increase was primarily due to an increase in accounting fees in the current year.

 

21

 

Interest expense

 

Interest expense, for the three months ended March 31, 2020 was $453,616, of which, approximately $84,000 is related to the amortization of debt discount related to the Company’s convertible promissory notes. The additional $386,000 is related to interest expense related to the Company’s convertible notes and promissory notes of which approximately $350,000 is non-cash. Interest expense, for the three months ended March 31, 2019 was $8,053, consisting of interest expense of $4,216 and amortization of debt issuance costs of $3,117 related to the Company’s convertible promissory notes totaling $230,000, as well as interest expense related to a lease of $720.

 

Other income

 

Other income for the three months ended March 31, 2020 was $1,290 compared to $0 in the three months ended March 31, 2019. This is primarily related to the write-off of $1,167 of accrued interest.

   

Liquidity and Capital Resources

 

While we have generated revenue in 2019 and 2020, we anticipate that we will continue to incur losses for the foreseeable future. Furthermore, substantially all of such revenue was generated through acting as a distributor of third-party medical devices in Russia, and we did not have any material sales of our products. We anticipate that our expenses will increase substantially as we develop our products and pursue pre-clinical testing and clinical trials, seek any further regulatory approvals, contract to manufacture any products, establish our own sales, marketing and distribution infrastructure to commercialize our Products, hire additional staff, add operational, financial and management systems and operate as a public company.

 

Historically, our primary source of cash has been proceeds from the sale of convertible promissory notes and related party loans. Through July 23, 2019, we sold an aggregate principal amount of approximately $2.95 million in multiple tranches of convertible promissory notes, of which $380,000 remains outstanding and unconverted. In addition, on December 31, 2019, we issued and sold to a third party a convertible note in the original principal amount of $275,000, and a warrant to purchase 100,000 shares of our common stock, pursuant to which we received $250,000 after an original issue discount of $25,000. We have also from time to time issued shares of our common stock to individuals and entities as payment for services rendered to us in lieu of cash.

 

All of our then-outstanding convertible promissory notes, in the aggregate principal amount plus interest through September 21, 2018 of $2,275,050, converted into aggregate of 5,687,630 shares of our common stock upon or immediately after the closing of the Acquisition.

 

In connection with the private placement of the convertible promissory notes, we paid the placement agent a cash fee of $117,880, in addition to equity compensation in the form of common stock purchase warrants.

  

We have no current source of revenue to sustain our present activities other than as acting as a distributor of medical devices in Russia (including those purchased from a company affiliated with one of our offices and directors), which is not our primary business goal, and we do not expect to generate material revenue, from our products until, and unless, the FDA or other regulatory authorities approve our products under development and we successfully commercialize our products. Until such time, if ever, as we can generate substantial product revenue, we expect to finance our cash needs through our distributorship revenue, a combination of equity (preferred stock or common stock) and debt financings as well as collaborations, strategic alliances and licensing arrangements. We do not have any committed external source of funds. To the extent that we raise additional capital through the sale of equity or convertible debt securities, the ownership interest of our stockholders will be diluted, and the terms of these securities may include liquidation or other preferences that adversely affect your rights as a common stockholder. Debt financing, if available, may involve agreements that include covenants limiting or restricting our ability to take specific actions, such as incurring additional debt, making capital expenditures or declaring dividends. If we raise additional funds through collaborations, strategic alliances or licensing arrangements with third-party partners, we may have to relinquish valuable rights to our technologies, future revenue streams or grant licenses on terms that may not be favorable to us. If we are unable to raise additional funds through equity or debt financings or through collaborations, strategic alliances or licensing arrangements when needed, we may be required to delay, limit, reduce or terminate our Product development, future commercialization efforts, or grant rights to develop and market our cortical strip, grid electrode and depth electrode technology that we would otherwise prefer to develop and market ourselves.

 

Our independent registered public accounting firm included an explanatory paragraph in its report on our financial statements as of and for the years ended December 31, 2019 and 2018, noting the existence of substantial doubt about our ability to continue as a going concern. This uncertainty arose from management’s review of our results of operations and financial condition and its conclusion that, based on our operating plans, we did not have sufficient existing working capital to sustain operations for a period of twelve months from the date of the issuance of these financial statements.

 

22

 

We believe our existing cash and cash equivalents, without raising additional funds or generating revenues, will be sufficient to fund our operating expenses only to approximately July 2020.

 

In January 2019, we commenced a convertible note offering for up to $500,000, of which we have raised $380,000 through July 23, 2019. In December 2019, we also raised an aggregate gross amount of $275,000, less a $25,000 original issue discount, from an investor pursuant to a securities purchase agreement. In April 2020, existing stockholders of the Company agreed to advance to the Company an aggregate amount of $250,000 pursuant to the terms of Convertible Grid Promissory Notes (the “Grid Notes”). As of May 12, 2020, a total aggregate amount of $100,000 has been advanced pursuant to the terms of the Grid Notes. We may obtain additional financing in the future through the issuance of our common stock, through other equity or debt financings or through collaborations or partnerships with other companies. We may not be able to raise additional capital on terms acceptable to us, or at all, and any failure to raise capital as and when needed could compromise our ability to execute on our business plan.

 

The development of our products is subject to numerous uncertainties, and we have based these estimates on assumptions that may prove to be substantially different than we currently anticipate and could use our cash resources sooner than we expect. Additionally, the process of developing medical devices is costly, and the timing of progress in pre-clinical tests and clinical trials is uncertain. Our ability to successfully transition to profitability will be dependent upon achieving a level of product sales adequate to support our cost structure. We cannot assure you that we will ever be profitable or generate positive cash flow from operating activities.

 

Net cash used in operating activities

 

Net cash used in operating activities was $252,319 for the three months ended March 31, 2020 compared to $423,803 for the three months ended March 31, 2019. This fluctuation is primarily due to an increase in net loss of approximately $541,000 offset by an increase of approximately $429,000 in amortization of debt discount and non-cash interest expense related to the 2019 issuance of a convertible debenture and in accounts payable and changes in accrued expenses third party and related party of approximately $210,000.

  

Net cash used in investing activities

 

Net cash used in investing activities was $0 for the three months ended March 31, 2020, compared to $1,005 for the three months ended March 31, 2019. The decrease is due to no new purchases of fixed assets in the three months ended March 31, 2020 as compared to March 31, 2019.

 

Net cash provided by financing activities

 

Net cash provided by financing activities was $20,000 for the three months ended March 31, 2020, which consisted of the proceeds from the issuance of a third-party promissory note.

 

Net cash provided by financing activities was $305,000 for the three months ended March 31, 2019, which primarily consisted of the sale of the Company’s convertible promissory notes for aggregate gross proceeds of $230,000 as well as proceeds from a related party loan of $75,000.

  

Critical Accounting Policies and Significant Judgments and Estimates

 

Our management’s discussion and analysis of our financial condition and results of operations is based on our financial statements, which have been prepared in accordance with accounting principles generally accepted in the United States of America, or GAAP. The preparation of these financial statements requires us to make estimates, judgments and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities as of the dates of the balance sheets and the reported amounts of revenue and expenses during the reporting periods. In accordance with GAAP, we base our estimates on historical experience and on various other assumptions that we believe are reasonable under the circumstances at the time such estimates are made. Actual results may differ materially from our estimates and judgments under different assumptions or conditions. We periodically review our estimates in light of changes in circumstances, facts and experience. The effects of material revisions in estimates are reflected in our financial statements prospectively from the date of the change in estimate.

 

23

 

While our significant accounting policies are more fully described in the notes to our financial statements appearing elsewhere in this Report, we believe the following are the critical accounting policies used in the preparation of our financial statements that require significant estimates and judgments.

 

Use of Estimates: The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Significant estimates in the accompanying consolidated financial statements include the estimates of useful lives for depreciation.

 

Fair Value of Financial Instruments: Fair value is defined as the price that would be received to sell an asset, or paid to transfer a liability, in an orderly transaction between market participants. A fair value hierarchy has been established for valuation inputs that gives the highest priority to quoted prices in active markets for identical assets or liabilities and the lowest priority to unobservable inputs. The fair value hierarchy is as follows:

 

  Level 1 Inputs - Unadjusted quoted prices in active markets for identical assets or liabilities that the reporting entity has the ability to access at the measurement date.

 

  Level 2 Inputs - Inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. These might include quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the asset or liability (such as interest rates, volatilities, prepayment speeds, credit risks, etc.) or inputs that are derived principally from or corroborated by market data by correlation or other means.

 

  Level 3 Inputs - Unobservable inputs for determining the fair values of assets or liabilities that reflect an entity’s own assumptions about the assumptions that market participants would use in pricing the assets or liabilities.

 

Financial instruments consist of cash and cash equivalents, accounts receivable, accounts payable and borrowings. The fair value of current financial assets and current financial liabilities approximates their carrying value because of the short-term maturity of these financial instruments.

  

Income Taxes. The Company accounts for income taxes under the asset and liability method, as required by the accounting standard for income taxes, ASC 740. Under this method, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis, as well as net operating loss carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date.

 

Stock Based Compensation. The Company accounts for the grant of restricted stock awards in accordance with ASC 718, “Compensation-Stock Compensation.” ASC 718 requires companies to recognize in the statement of operations the grant-date fair value of equity based compensation. The expense is recognized over the period during which the employee is required to provide service in exchange for the compensation.  Any remaining unrecognized balance will be recognized ratably over the life of the vesting period and is a reduction of stockholders’ equity.

 

The Company accounts for non-employee share-based awards in accordance with the measurement and recognition criteria of ASC 505-50 “Equity-Based Payments to Non-Employees.”

  

Recent Accounting Pronouncements

 

In June 2016, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update (“ASU”) 2016-13, “Measurement of Credit Losses on Financial Instruments,” which requires measurement and recognition of expected credit losses at the point a loss is probable to occur, rather than expected to occur, which will generally result in earlier recognition of allowances for credit losses. The new guidance is effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. The Company adopted ASU 2016-13 in the first quarter of 2020 and the adoption did not have a material impact on its condensed consolidated financial statements.

 

24

 

Off-Balance Sheet Arrangements

 

We have no off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on our financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources.

 

Item 3. Quantitative and Qualitative Disclosures About Market Risk

 

Not applicable for smaller reporting companies.

 

Item 4. Controls and Procedures.

 

Disclosure Controls and Procedures

 

We maintain a system of disclosure controls and procedures (as defined in Rule 13a-15(e) under the Exchange Act). As required by Rule 13a-15(b) under the Exchange Act, management of the Company, under the direction of our Board of Directors and Chief Financial Officer, reviewed and performed an evaluation of the effectiveness of design and operation of our disclosure controls and procedures (as defined in Rule 13a-15(e) under the Exchange Act) as of March 31, 2020. Based on that review and evaluation, the Board of Directors and Chief Financial Officer, along with the management of the Company, have determined that as of March 31, 2020, the disclosure controls and procedures were not effective to provide reasonable assurance that information required to be disclosed by us in the reports that we file or submit under the Exchange Act is recorded, processed, summarized and reported within the time periods specified in the SEC’s rules and forms and were not effective to provide reasonable assurance that such information is accumulated and communicated to our management, including our principal executive officer and principal financial officer, as appropriate to allow timely decisions regarding required disclosures. Specifically, we have identified the following material weakness in our disclosure controls: (i) insufficient written policies and procedures to ensure timely filing of reports that the Company files or submits under the Exchange Act, and (ii) a lack of full-time executive management, including a lack of a full-time chief executive officer and chief financial officer, and other members of management who would otherwise oversee the Company’s disclosure controls and procedures.

 

Changes in Internal Control Over Financial Reporting

 

There were no changes in our internal control over financial reporting, identified in connection with the evaluation of such internal control that occurred during our last fiscal quarter that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

 

25

 

PART II

OTHER INFORMATION

 

Item 1. Legal Proceedings.

 

From time to time, we may become involved in various lawsuits and legal proceedings, which arise in the ordinary course of business. However, litigation is subject to inherent uncertainties, and an adverse result in these or other matters may arise from time to time that may harm business.

 

We are not currently a party in any legal proceeding or governmental regulatory proceeding nor are we currently aware of any pending or potential legal proceeding or governmental regulatory proceeding proposed to be initiated against us that would have a material adverse effect on us or our business.

 

Item 1A. Risk Factors.

 

Not required for a Smaller Reporting Company.

 

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

 

All unregistered issuances of equity securities during the period covered by this quarterly report have been previously disclosed on our Current Reports on Form 8-K. Please see Item 5- Other Information regarding unregistered issuances of equity securities during the period subsequent to the period covered by this quarterly report.

 

Item 3. Defaults Upon Senior Securities.

 

None.

 

Item 4. Mine Safety Disclosures.

 

Not applicable.

 

Item 5. Other Information.

 

None.

 

26

 

Item 6. Exhibits

 

The exhibits listed below are hereby furnished to the SEC as part of this report:

 

10.1   Non-Convertible Promissory Note (Incorporated by reference to the Registrant’s Current Report on Form 8-K filed on February 27, 2020)
10.2   Allonge to Convertible Promissory Note dated February 28, 2020 ($130,000) (Incorporated by reference to the Registrant’s Current Report on Form 8-K filed on March 5, 2020)
10.3   Allonge to Convertible Promissory Note dated February 28, 2020 ($100,000) (Incorporated by reference to the Registrant’s Current Report on Form 8-K filed on March 5, 2020)
10.4   Boris Goldstein Employment Agreement (Incorporated by reference to the Registrant’s Annual Report on Form 10-K for the fiscal year ended December 31, 2020, filed on March 31, 2020)
10.5   Vadim Sakharov Employment Agreement (Incorporated by reference to the Registrant’s Annual Report on Form 10-K for the fiscal year ended December 31, 2020, filed on March 31, 2020)
10.6   Convertible Grid Promissory Note, dated April 21, 2020, issued to Thomas J. Caleca (Incorporated by reference to the Registrant’s Current Report on Form 8-K filed on April 27, 2020)
10.7   Common Stock Purchase Warrant, dated April 21, 2020, issued to Thomas J. Caleca (Incorporated by reference to the Registrant’s Current Report on Form 8-K filed on April 27, 2020)
10.8   Convertible Grid Promissory Note, dated April 21, 2020, issued to Andrew Brown (Incorporated by reference to the Registrant’s Current Report on Form 8-K filed on April 27, 2020)
10.9   Common Stock Purchase Warrant, dated April 21, 2020, issued to Andrew Brown (Incorporated by reference to the Registrant’s Current Report on Form 8-K filed on April 27, 2020)
31.1   Certification of Boris Goldstein, Chairman of the Board
31.2   Certification of Mark Corrao, Chief Financial Officer
32.1   Certification of Boris Goldstein, Chairman of the Board, 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 Mark Corrao, Chief Financial Officer, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
101.1   XBRL Instance.
101.SCH   XBRL Taxonomy Extension Schema.
101.CAL   XBRL Taxonomy Extension Calculation.
101.DEF   XBRL Taxonomy Extension Definition.
101.LAB   XBRL Taxonomy Extension Labels.
101.PRE   XBRL Taxonomy Extension Presentation.

 

27

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized, this 16th day of September, 2020.

 

  BRAIN SCIENTIFIC INC.
     
  By: /s/ Boris Goldstein
  Name:  Boris Goldstein
  Title: Chairman of the Board
    (Interim Principal Executive Officer)
     
  By: /s/ Mark Corrao
  Name: Mark Corrao
  Title: Chief Financial Officer
    (Principal Financial and Accounting Officer)

 

 

28

 

 

EX-31.1 2 f10q0320a1ex31-1_brain.htm CERTIFICATION

Exhibit 31.1

 

Certifications of Principal Executive Officer

 

Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 

 

I, Boris Goldstein, certify that:

 

  1. I have reviewed this quarterly report on Form 10-Q/A of Brain Scientific Inc.;

 

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

 

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

 

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

 

  b. Designed such internal controls over financial reporting, or caused such internal controls 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 and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrants’ board of directors (or persons performing the equivalent functions):

 

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

 

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

 

Dated: September 16, 2020

 

/s/ Boris Goldstein  
Chairman, Secretary and Executive Vice President
(Principal Executive Officer)
 

 

EX-31.2 3 f10q0320a1ex31-2_brain.htm CERTIFICATION

Exhibit 31.2

 

Certifications of Principal Financial Officer

 

Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002

 

I, Mark Corrao, certify that:

 

  1. I have reviewed this quarterly report on Form 10-Q/A of Brain Scientific Inc.;

 

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

 

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

 

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

 

  b. Designed such internal controls over financial reporting, or caused such internal controls 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 and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrants’ board of directors (or persons performing the equivalent functions):

 

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

 

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

 

Dated: September 16, 2020

 

/s/ Mark Corrao  
Chief Financial Officer
(Principal Financial and Accounting Officer)
 

 

EX-32.1 4 f10q0320a1ex32-1_brain.htm CERTIFICATION

Exhibit 32.1

 

Certification of Principal Executive Officer

 

Pursuant to 18 U.S.C. Section 1350, as adopted pursuant to

 

Section 906 of the Sarbanes-Oxley Act of 2002

 

I, Boris Goldstein, Chairman of the Board, Secretary and Executive Vice President of Brain Scientific Inc., hereby certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that to my knowledge, the quarterly report on Form 10-Q/A for the period ending March 31, 2020 of Brain Scientific Inc. (the “Form 10-Q/A”) fully complies with the requirements of Section 13 (a) or 15 (d) of the Securities Exchange Act of 1934 and the information contained in the Form 10-Q/A fairly presents, in all material respects, the financial condition and results of operations of Brain Scientific Inc.

 

Dated: September 16, 2020 /s/ Boris Goldstein
  Boris Goldstein
  Chairman, Secretary and Executive Vice President
  (Principal Executive Officer)

 

EX-32.2 5 f10q0320a1ex32-2_brain.htm CERTIFICATION

Exhibit 32.2

 

Certification of Principal Financial Officer

 

Pursuant to 18 U.S.C. Section 1350, as adopted pursuant to

 

Section 906 of the Sarbanes-Oxley Act of 2002

 

I, Mark Corrao, Chief Financial Officer of Brain Scientific Inc., hereby certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that to my knowledge, the quarterly report on Form 10-Q/A for the period ending September 30, 2020 of Brain Scientific Inc. (the “Form 10-Q/A”) fully complies with the requirements of Section 13 (a) or 15 (d) of the Securities Exchange Act of 1934 and the information contained in the Form 10-Q/A fairly presents, in all material respects, the financial condition and results of operations of Brain Scientific Inc.

 

Dated: September 16, 2020 /s/ Mark Corrao
  Mark Corrao
  Chief Financial Officer
  (Principal Financial and Accounting Officer)

 

EX-101.INS 6 brsf-20200331.xml XBRL INSTANCE FILE 0001662382 2020-01-01 2020-03-31 0001662382 2020-05-18 0001662382 2020-03-31 0001662382 2019-12-31 0001662382 2019-01-01 2019-03-31 0001662382 us-gaap:CommonStockMember 2019-12-31 0001662382 us-gaap:AdditionalPaidInCapitalMember 2019-12-31 0001662382 us-gaap:RetainedEarningsMember 2019-12-31 0001662382 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2019-12-31 0001662382 us-gaap:CommonStockMember 2020-01-01 2020-03-31 0001662382 us-gaap:AdditionalPaidInCapitalMember 2020-01-01 2020-03-31 0001662382 us-gaap:RetainedEarningsMember 2020-01-01 2020-03-31 0001662382 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2020-01-01 2020-03-31 0001662382 us-gaap:CommonStockMember 2020-03-31 0001662382 us-gaap:AdditionalPaidInCapitalMember 2020-03-31 0001662382 us-gaap:RetainedEarningsMember 2020-03-31 0001662382 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2020-03-31 0001662382 us-gaap:CommonStockMember 2018-12-31 0001662382 us-gaap:AdditionalPaidInCapitalMember 2018-12-31 0001662382 us-gaap:RetainedEarningsMember 2018-12-31 0001662382 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2018-12-31 0001662382 2018-12-31 0001662382 us-gaap:CommonStockMember 2019-01-01 2019-03-31 0001662382 us-gaap:AdditionalPaidInCapitalMember 2019-01-01 2019-03-31 0001662382 us-gaap:RetainedEarningsMember 2019-01-01 2019-03-31 0001662382 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2019-01-01 2019-03-31 0001662382 us-gaap:CommonStockMember 2019-03-31 0001662382 us-gaap:AdditionalPaidInCapitalMember 2019-03-31 0001662382 us-gaap:RetainedEarningsMember 2019-03-31 0001662382 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2019-03-31 0001662382 2019-03-31 0001662382 brsf:MemoryMDMember 2018-09-21 0001662382 brsf:MemoryMDMember brsf:AutomaticConversionAtClosingMember brsf:PrincipalAndAccruedInterestOfPromissoryNoteIssuedByMemoryMDMember 2018-09-20 2018-09-21 0001662382 brsf:MemoryMDMember brsf:AutomaticConversionImmediatelySubsequentToClosingMember brsf:PrincipalAndAccruedInterestOfPromissoryNoteIssuedByMemoryMDMember 2018-09-20 2018-09-21 0001662382 2018-09-21 0001662382 2018-09-20 2018-09-21 0001662382 srt:MinimumMember 2018-09-18 0001662382 srt:MaximumMember 2018-09-18 0001662382 2018-09-18 0001662382 brsf:MemoryMDMember 2020-01-01 2020-03-31 0001662382 srt:MinimumMember 2017-12-01 2017-12-22 0001662382 srt:MaximumMember 2017-12-01 2017-12-22 0001662382 us-gaap:FairValueInputsLevel1Member 2020-01-01 2020-03-31 0001662382 us-gaap:FairValueInputsLevel2Member 2020-01-01 2020-03-31 0001662382 us-gaap:FairValueInputsLevel3Member 2020-01-01 2020-03-31 0001662382 us-gaap:FairValueInputsLevel1Member 2020-03-31 0001662382 us-gaap:FairValueInputsLevel2Member 2020-03-31 0001662382 us-gaap:FairValueInputsLevel3Member 2020-03-31 0001662382 us-gaap:DebtInstrumentRedemptionPeriodOneMember us-gaap:ConvertibleNotesPayableMember 2019-01-01 2019-01-31 0001662382 us-gaap:DebtInstrumentRedemptionPeriodOneMember us-gaap:ConvertibleNotesPayableMember 2019-01-01 2019-01-18 0001662382 us-gaap:DebtInstrumentRedemptionPeriodOneMember us-gaap:ConvertibleNotesPayableMember 2019-02-02 2019-02-02 0001662382 us-gaap:DebtInstrumentRedemptionPeriodOneMember us-gaap:ConvertibleNotesPayableMember 2019-07-10 2019-07-23 0001662382 us-gaap:DebtInstrumentRedemptionPeriodOneMember us-gaap:ConvertibleNotesPayableMember 2020-01-01 2020-03-31 0001662382 us-gaap:ConvertibleNotesPayableMember brsf:SecuritiesPurchaseAgreementMember 2019-01-01 2019-12-31 0001662382 us-gaap:ConvertibleNotesPayableMember brsf:SecuritiesPurchaseAgreementMember 2019-12-31 0001662382 us-gaap:ConvertibleNotesPayableMember brsf:SecuritiesPurchaseAgreementMember 2020-12-31 0001662382 us-gaap:ConvertibleNotesPayableMember brsf:SecuritiesPurchaseAgreementMember 2020-01-01 2020-12-31 0001662382 us-gaap:DebtInstrumentRedemptionPeriodOneMember 2020-01-01 2020-03-31 0001662382 us-gaap:ConvertibleNotesPayableMember us-gaap:CollaborativeArrangementTransactionWithPartyToCollaborativeArrangementMember 2019-01-01 2019-12-31 0001662382 us-gaap:ConvertibleNotesPayableMember brsf:SecuritiesPurchaseAgreementMember 2020-03-01 2020-03-18 0001662382 srt:MinimumMember 2020-01-01 2020-03-31 0001662382 srt:MaximumMember 2020-01-01 2020-03-31 0001662382 srt:MinimumMember 2020-03-31 0001662382 srt:MaximumMember 2020-03-31 0001662382 2019-10-23 0001662382 brsf:PromissoryNotesMember 2020-02-21 0001662382 brsf:PromissoryNotesMember 2020-01-01 2020-03-31 0001662382 brsf:PromissoryNotesMember 2020-03-31 0001662382 2016-01-01 2016-12-31 0001662382 2017-07-01 2017-07-31 0001662382 srt:ChiefExecutiveOfficerMember 2018-12-31 0001662382 srt:ChiefExecutiveOfficerMember 2019-12-31 0001662382 srt:ChiefExecutiveOfficerMember 2020-03-31 0001662382 brsf:MrSakharovShareholderAndExecutiveManagerrMember 2020-01-01 2020-03-31 0001662382 brsf:MrSakharovShareholderAndExecutiveManagerrMember 2019-01-01 2019-03-31 0001662382 srt:AffiliatedEntityMember 2019-12-31 0001662382 srt:AffiliatedEntityMember 2020-03-31 0001662382 srt:WarehouseMember srt:BoardOfDirectorsChairmanMember 2020-01-01 2020-03-31 0001662382 srt:WarehouseMember srt:BoardOfDirectorsChairmanMember 2019-01-01 2019-03-31 0001662382 brsf:AffiliateOneMember 2019-12-31 0001662382 brsf:AffiliateOneMember 2020-03-31 0001662382 brsf:AdvisorMember brsf:IssuePriceOneMember brsf:OneYearAgreementMember 2018-08-01 2018-08-08 0001662382 brsf:AdvisorMember brsf:IssuePriceOneMember brsf:OneYearAgreementMember 2020-03-31 0001662382 brsf:AdvisorMember brsf:FourMonthAgreementMember 2018-08-01 2018-08-28 0001662382 brsf:AdvisorMember brsf:FourMonthAgreementMember 2018-08-28 0001662382 brsf:AdvisorMember brsf:FourMonthAgreementMember 2020-01-01 2020-03-31 0001662382 2018-08-01 2018-08-28 0001662382 srt:BoardOfDirectorsChairmanMember us-gaap:StockOptionMember 2019-01-01 2019-01-14 0001662382 brsf:MrVadimSakharovMember 2019-01-01 2019-01-14 0001662382 srt:BoardOfDirectorsChairmanMember us-gaap:StockOptionMember 2019-01-14 0001662382 srt:BoardOfDirectorsChairmanMember us-gaap:StockOptionMember 2019-01-01 2019-12-31 0001662382 srt:BoardOfDirectorsChairmanMember us-gaap:StockOptionMember 2020-01-01 2020-03-31 0001662382 brsf:BorisGoldsteinMember us-gaap:StockOptionMember brsf:EmploymentAgreementMember 2020-01-01 2020-01-30 0001662382 brsf:BorisGoldsteinMember us-gaap:StockOptionMember brsf:EmploymentAgreementMember 2020-01-30 0001662382 2020-01-01 2020-01-30 0001662382 brsf:JesseWCrowneMember us-gaap:StockOptionMember brsf:EmploymentAgreementMember 2020-01-01 2020-01-30 0001662382 brsf:BorisGoldsteinMember us-gaap:StockOptionMember brsf:EmploymentAgreementMember 2020-01-01 2020-03-31 0001662382 us-gaap:StockOptionMember 2020-01-01 2020-03-31 0001662382 us-gaap:WarrantMember 2019-12-31 0001662382 us-gaap:WarrantMember 2020-01-01 2020-03-31 0001662382 us-gaap:WarrantMember 2020-03-31 0001662382 us-gaap:StockOptionMember 2019-12-31 0001662382 us-gaap:StockOptionMember 2020-03-31 0001662382 brsf:TwelveMonthYearAgreementMember brsf:ThirdPartyMember 2020-01-01 2020-01-02 0001662382 brsf:TenMonthYearAgreementMember brsf:ThirdPartyMember 2019-06-01 2019-06-01 0001662382 brsf:TwelveMonthYearAgreementMember brsf:ThirdPartyMember 2019-06-01 2019-06-01 0001662382 brsf:SixMonthWareHousMember 2018-11-29 2018-12-01 0001662382 2018-11-29 2018-12-01 0001662382 brsf:EquityIncentivePlan2018Member 2018-09-17 2018-09-21 0001662382 brsf:EquityIncentivePlan2018Member 2018-09-21 0001662382 brsf:EquityIncentivePlan2018Member 2020-01-01 2020-03-31 0001662382 brsf:EquityIncentivePlan2018Member 2020-03-31 0001662382 us-gaap:CarryingReportedAmountFairValueDisclosureMember 2020-03-31 0001662382 brsf:AdjustmentMember 2020-03-31 0001662382 brsf:AsRestatedMember 2020-03-31 0001662382 us-gaap:CarryingReportedAmountFairValueDisclosureMember 2020-01-01 2020-03-31 0001662382 brsf:AdjustmentMember 2020-01-01 2020-03-31 0001662382 brsf:AsRestatedMember 2020-01-01 2020-03-31 0001662382 brsf:ConvertibleGridNotesMember us-gaap:SubsequentEventMember 2020-04-02 2020-04-21 0001662382 brsf:ConvertibleGridNotesMember us-gaap:SubsequentEventMember 2020-04-21 0001662382 brsf:convertiblePromissoryNotesMember 2020-04-22 0001662382 brsf:GridInvestorsMember us-gaap:SubsequentEventMember 2020-04-22 0001662382 brsf:ConvertibleGridNotesMember 2020-04-22 0001662382 brsf:ConvertibleGridNotesMember 2020-01-01 2020-03-31 xbrli:shares iso4217:USD iso4217:USD xbrli:shares xbrli:pure iso4217:RUB 10-Q/A 2020-03-31 333-209325 BRAIN SCIENTIFIC INC. NV Yes Yes Non-accelerated Filer true true false As disclosed in Item 4.02 of Brain Scientific Inc.’s (the Company) current report on Form 8-K filed with the U.S Securities and Exchange Commission (“SEC”) on August 18, 2020, on August 12, 2020 the Company, under the authority of its board of directors, following discussion with Sadler, Gibb & Associates, LLC, the Company’s independent registered public accounting firm, concluded that the Company’s previously filed financial statements for the three months ended March 31, 2020, can no longer be relied upon.The Company is filing this Amendment No. 1 (“Form 10-Q/A”) to the Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2020, which was filed with the SEC on May 19, 2020 (the “Original Filing”), to reflect restatements of the Consolidated Balance Sheet at March 31, 2020, the Consolidated Statement of Operations, Consolidated Statement of Changes in Shareholders’ Equity (Deficit), and Consolidated Statement of Cash Flows for the three months ended March 31, 2020, and the related notes thereto.The following sections in the Original Filing are amended and restated in this Form 10-Q/A, solely as a result of, and to reflect, the restatement:Part I - Item 1 - Financial StatementsPart I - Item 2 - Management’s Discussion and Analysis of Financial Condition and Results of OperationsIn addition, pursuant to the rules of the SEC, Part II, Item 6 of the Original Filing has been amended to include the currently-dated certifications from our principal executive officer and principal financial officer, as required by Sections 302 and 906 of the Sarbanes-Oxley Act of 2002. The certifications of the principal executive officer and principal financial officer are included in this Form 10-Q/A as Exhibits 31.1, 31.2, 32.1 and 32.2.For the convenience of the reader, this Form 10-Q/A sets forth the information in the Original Filing in its entirety, as such information is modified and superseded where necessary to reflect the restatement. This Form 10-Q/A should be read in conjunction with our filings with the SEC subsequent to the date of the Original Filing, in each case as those filings may have been, or with respect to the Original Filing will be, superseded or amended.Except as described above, no other changes have been made to the Original Filing. This Form 10-Q/A speaks as of the date of the Original Filing and does not reflect events that may have occurred after the date of the Original Filing, or modify or update any disclosures that may have been affected by subsequent events. true --12-31 Q1 2020 0001662382 true 19383794 27947 261436 6706 5555 371 10329 21637 700 700 46053 289328 1333 1674 47386 291002 495091 298578 8737 9263 70000 50000 406482 499232 571843 4595 6377 322967 323084 1879715 1186534 1879715 1186534 19384 19381 2772711 2756798 -4623737 -3672077 -687 366 -1832329 -895532 47386 291002 0.001 0.001 10000000 10000000 0 0 0 0 0.001 0.001 200000000 200000000 19383794 19380460 19383794 19380460 133845 2250 104982 28863 2250 96390 22290 123608 111073 40584 47792 11638 22060 208635 201241 480855 404456 -451992 -402206 453616 8053 1290 47219 -123 -499668 -8053 -951660 -410259 -951660 -410259 -1053 -952713 -410259 -0.05 -0.02 19380460 19205624 19380460 19381 2756798 -3672077 366 5914 5914 3334 3 9999 10002 -1053 -1053 -951660 -951660 19383794 19384 2772711 -4623737 -687 19205624 19206 2595034 -2668212 -53972 4334 4334 13334 13 548 561 -410259 -410259 19218958 19219 2599916 -3078471 -459336 341 299 431874 3117 47219 5914 4334 10002 561 1151 371 -1782 -1411 -11308 5707 -196513 -17163 -526 -31900 -252319 -423803 1005 -1005 230000 20000 75000 20000 305000 -1170 -233489 -119808 163563 43755 18400 176274 <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>NOTE 1 &#x2013; ORGANIZATION AND NATURE OF OPERATIONS</b></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Brain Scientific Inc. (the &#x201c;Company&#x201d;), was incorporated under the laws of the state of Nevada on November 18, 2013 under the name All Soft Gels Inc. The Company on September 21, 2018 acquired MemoryMD, Inc. (&#x201c;MemoryMD&#x201d;), a privately held Delaware corporation formed in February 2015. Upon completion of the acquisition, MemoryMD is treated as the surviving entity and accounting acquirer although the Company was the legal acquirer. Accordingly, the Company&#x2019;s historical financial statements are those of MemoryMD, the surviving entity and accounting acquirer. MemoryMD is a cloud computing, data analytics and medical device technology company in the NeuroTech and brain monitoring industries seeking to commercialize its EEG devices and caps. The Company is headquartered in New York, New York.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Reverse&#xa0;Merger&#xa0;and&#xa0;Corporate&#xa0;Restructure</i></b></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On September 21, 2018, the Company entered into a merger agreement (the &#x201c;Merger Agreement&#x201d;) with MemoryMD and AFGG Acquisition Corp. to acquire MemoryMD (the &#x201c;Acquisition&#x201d;). The transactions contemplated by the Merger Agreement were consummated on September 21, 2018 and, pursuant to the terms of the Merger Agreement, all outstanding shares of MemoryMD were exchanged for shares of the Company&#x2019;s common stock. Accordingly, the Company acquired 100% of MemoryMD in exchange for the issuance of shares of the Company&#x2019;s common stock and MemoryMD became the Company&#x2019;s wholly owned subsidiary. The Company issued an additional 4,083,252 shares of its common stock upon the automatic conversion at the closing of an aggregate of $1,507,000 principal amount plus accrued interest of outstanding convertible promissory notes issued by MemoryMD, and it further issued an additional 1,604,378&#xa0;shares of its common stock upon the automatic conversion immediately subsequent to the closing of an aggregate of $640,000 principal amount plus accrued interest of outstanding convertible promissory notes issued by MemoryMD. Furthermore, as of the closing, Mr. Amer Samad, the sole director and executive officer until the consummation of the Acquisition, committed to tender for cancellation 6,495,000 shares of the Company&#x2019;s common stock as part of the conditions to closing, of which 6,375,000 have been cancelled at December 31, 2018 and 120,000 are expected to be cancelled as soon as practicable. Total shares issued as a result of the Acquisition was 13,421,752.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Acquisition has been accounted for as a reverse recapitalization of Brain Scientific by MemoryMD, but in substance as a capital transaction, rather than a business combination since Brain Scientific had nominal or no operations and assets prior to and as of the closing of the Acquisition. The transaction is deemed a reverse recapitalization and the accounting is similar to that resulting from a reverse acquisition, except that no goodwill or other intangible assets should be recorded. For accounting purposes, MemoryMD is treated as the surviving entity and accounting acquirer although Brain Scientific was the legal acquirer. Accordingly, the Company&#x2019;s historical financial statements are those of MemoryMD.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">All references to common stock, share and per share amounts have been retroactively restated to reflect the reverse recapitalization as if the transaction had taken place as of the beginning of the earliest period presented.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Assignment and Assumption Agreement</i></b></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As of immediately prior to the closing of the Acquisition, the Company entered into an Assignment and Assumption Agreement with Chromium 24 LLC, pursuant to which Chromium 24 LLC assumed all of the Company&#x2019;s remaining assets and liabilities through the closing of the Acquisition. Accordingly, as of the closing of the Acquisition, Brain Scientific had no assets or liabilities other than the shares of MemoryMD acquired in the Acquisition.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Name Change and Increase in Authorized Shares</i></b></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On September 18, 2018, the Company filed an amendment to its certificate of incorporation with the Nevada Secretary of State to change its name to Brain Scientific Inc. On September 18, 2018, FINRA approved of the name change as well as a ticker symbol change, which was effective as of September 19, 2018. In addition, the Company increased its authorized shares of common stock from 50,000,000 to 200,000,000 and created and authorized 10,000,000 shares of undesignated preferred stock.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i>Unaudited Interim Financial Information</i></b></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company has prepared the accompanying condensed consolidated financial statements pursuant to the rules and regulations of the Securities and Exchange Commission (the &#x201c;SEC&#x201d;) for interim financial reporting. These consolidated financial statements are unaudited and, in the Company&#x2019;s opinion, include all adjustments, consisting of normal recurring adjustments and accruals necessary for a fair presentation of its balance sheets, operating results, and cash flows for the periods presented. Operating results for the periods presented are not necessarily indicative of the results that may be expected for&#xa0;2020. Certain information and footnote disclosures normally included in consolidated financial statements prepared in accordance with accounting principles generally accepted in the United States (&#x201c;GAAP&#x201d;) have been omitted in accordance with the rules and regulations of the SEC. These consolidated financial statements should be read in conjunction with the audited financial statements and accompanying notes.</p><br/> 1.00 4083252 1507000 1604378 640000 6495000 6375000 120000 13421752 50000000 200000000 10000000 <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>NOTE 2 &#x2013; SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES </b></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i>Basis of Presentation</i></b></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The accompanying consolidated financial statements have been prepared in&#xa0;accordance with GAAP.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Principles of Consolidation</i></b></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company evaluates the need to consolidate affiliates based on standards set forth in ASC 810 Consolidation (&#x201c;ASC 810").</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The consolidated financial statements include the accounts of the Company and its subsidiaries, MemoryMD and MemoryMD - Russia. The operations of the newly formed 100% wholly owned subsidiary, MemoryMD &#x2013; Russia, are included beginning April 1, 2019. All significant consolidated transactions and balances have been eliminated in consolidation.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Use of Estimates</i></b></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The preparation of financial statements in accordance with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Significant estimates include the useful life of property and equipment and assumptions used in the valuation of options and warrants.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Cash and Cash Equivalents</i></b></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company considers all highly liquid temporary cash investments with an original maturity of three months or less to be cash equivalents. At March 31, 2020 and December 31, 2019, the Company had no cash equivalents.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company&#x2019;s cash is held with financial institutions, and the account balances may, at times, exceed the Federal Deposit Insurance Corporation (FDIC) insurance limit. Accounts are insured by the FDIC up to $250,000 per financial institution. The Company has not experienced any losses in such accounts with these financial institutions. As of March 31, 2020 and December 31, 2019, the Company had $0 and $11,436, respectively, in excess over the FDIC insurance limit.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Inventory </i></b></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Inventory consists of finished goods that are valued at lower of cost or market using the weighted average method.&#xa0; As of March 31, 2020 and December 31, 2019, the Company had inventory totaling $371 and $0, respectively.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i>Property, Equipment and Depreciation</i></b></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Property and equipment are recorded at cost, less depreciation. Depreciation is computed using the straight-line method over the estimated useful lives of the assets. Expenditures for repair and maintenance are charged to operations as incurred. Property and equipment consisted of computer equipment, with an estimated useful life of three years. Depreciation expense was $341 and $299 for the three months ended March 31, 2020 and 2019, respectively.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Convertible Notes Payable</i></b></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company has issued convertible notes, which contain variable conversion features, whereby the outstanding principal and accrued interest automatically convert into common shares at a fixed price which may be at a discount to the common stock at the time of conversion. For certain notes, the conversion features of these notes are contingent upon future events, whereby, the holder agreed not to convert until the contingent future event has occurred.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Derivative Instruments</i></b></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company evaluates its convertible notes and warrants to determine if those contracts or embedded components of those contracts qualify as derivatives to be separately accounted for in accordance with ASC 815. The result of this accounting treatment is that the fair value of the embedded derivative is recorded as a liability and marked-to-market each balance sheet date. In the event that the fair value is recorded as a liability, the change in fair value is recorded in the statements of operations as other income or expense. Upon conversion or exercise of a derivative instrument, the instrument is marked to fair value at the conversion date and then that fair value is reclassified to equity.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company utilizes the Monte Carlo Method that values the liability of the debt conversion feature derivative financial instruments and derivative warrants based on a probability of a down round event. The reason the Company selected the lattice binomial model is that in many cases there may be multiple embedded features or the features of the bifurcated derivatives may be so complex that a Black-Scholes valuation does not consider all of the terms of the instrument. Therefore, the fair value may not be appropriately captured by simple models.&#xa0;</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">From time to time, certain of the Company&#x2019;s embedded conversion features on debt and outstanding warrants have been treated as derivative liabilities for accounting purposes under ASC 815 due to insufficient authorized shares to fully settle conversion features of the instruments if exercised. In this case, the Company utilized the latest inception date sequencing method to reclassify outstanding instruments as derivative instruments. These contracts were recognized at fair value with changes in fair value recognized in earnings until such time as the conditions giving rise to such derivative liability classification were settled.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Revenue Recognition</i></b></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On January 1, 2018, the Company adopted ASC Topic 606 Revenue from Contracts with Customers. This guidance requires an entity to recognize revenue by applying the following steps:&#xa0; (1) identify the contract with a customer; (2) identify the performance obligations in the contract; (3) determine the transaction price; (4) allocate the transaction price to each performance obligation in the contract; and (5) recognize revenue when each performance obligation is satisfied. Once the steps are met, revenue is recognized, generally upon receiving a letter of acceptance from the customer. There has been no material effect on the Company&#x2019;s financial statements as a result of adopting Topic 606.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company recognizes revenue from the sale of NeuroCaps, Universal as well as revenue from the sale of goods purchased through manufacturers of medical devices. All revenue for the three months ended March 31, 2020 is from the sale of medical devices purchased from Neurotech, a related party.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Research and Development Costs</i></b></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company expenses all research and development costs as they are incurred. Research and development includes expenditures in connection with in-house research and development salaries and staff costs, application and filing for regulatory approval of proposed products, regulatory and scientific consulting fees, as well as contract research, data collection, and monitoring, related to the research and development of the cloud infrastructure, data imaging, and proprietary products and technology. Research and development costs recognized in the statement of operations for the three months ended March 31, 2020 and 2019 were $96,390 and $22,290, respectively.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Sales and Marketing</i></b></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Advertising and marketing costs are expensed as incurred. Advertising and marketing costs recognized in the statement of operations for the three months ended March 31, 2020 and 2019 were $40,584 and $47,792, respectively.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Stock-based Compensation</i></b></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company measures and recognizes compensation expense for all stock-based payments at fair value over the requisite service period. The Company uses the Black-Scholes option pricing model to determine the weighted average fair value of options and warrants. Equity-based compensation expense is recorded in administrative expenses based on the classification of the employee or vendor. The determination of fair value of stock-based payment awards on the date of grant using an option-pricing model is affected by our stock price as well as by assumptions regarding a number of subjective variables. These variables include, but are not limited to, the expected stock price volatility over the term of the awards, and actual and projected employee stock option exercise behaviors.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i>Basic and Diluted Net Loss Per Common Share</i></b></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Basic net loss per share is computed by dividing the net loss by the weighted average number of common shares outstanding during the period. Diluted net loss per common share is computed by dividing the net loss by the weighted average number of common shares outstanding for the period and, if dilutive, potential common shares outstanding during the period. Potentially dilutive securities consist of the incremental common shares issuable upon exercise of common stock equivalents such as stock options, warrants and convertible debt instruments. Potentially dilutive securities are excluded from the computation if their effect is anti-dilutive. As a result, the basic and diluted per share amounts for all periods presented are identical. In the three months ended March 31, 2020 2,302,250 anti-dilutive securities were excluded from the computation.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i>Fair Value of Financial Instruments</i></b></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company&#x2019;s financial instruments are measured and recorded at fair value based on inputs and assumptions that market participants would use in pricing an asset or a liability. Fair value is defined as the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. When determining fair value, management considers the principal or most advantageous market in which the Company would transact, and also considers assumptions that market participants would use when pricing the asset or liability, such as inherent risk, transfer restrictions, and risk of non-performance.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Fair value is determined for assets and liabilities using a three-tiered value hierarchy into which these assets and liabilities are grouped based upon significant inputs as follows:</p><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: top"> <td style="width: 24px">&#xa0;</td> <td style="width: 24px"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#x25cf;</font></td> <td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Level 1 - Quoted prices in active markets for identical assets or liabilities.</font></td></tr> </table><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: top"> <td style="width: 24px">&#xa0;</td> <td style="width: 24px"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#x25cf;</font></td> <td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Level 2 - Observable inputs, other than Level 1 prices, such as quoted prices in active markets for similar assets and liabilities, quoted prices for identical or similar assets and liabilities in markets that are not active, or other inputs that are observable or can be corroborated by observable market data.</font></td></tr> </table><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: top"> <td style="width: 24px">&#xa0;</td> <td style="width: 24px"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#x25cf;</font></td> <td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Level 3 - Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. This includes certain pricing models, discounted cash flow methodologies and similar techniques that use significant unobservable inputs. When a determination is made to classify a financial instrument within Level 3, the determination is based upon the lack of significance of the observable parameters to the overall fair value measurement. However, the fair value determination for Level 3 financial instruments may consider some observable market inputs.</font></td></tr> </table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The lowest level of significant input determines the placement of the entire fair value measurement in the hierarchy. The carrying values of cash, prepaid expenses and other current assets, convertible notes, accounts payable, loans payable and due to others approximate fair value due to the short-term nature of these items.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company did not have any other Level 1 or Level 2 assets or liabilities as of March 31, 2020 and the Company did not have any other Level 1, Level 2 or Level 3 assets or liabilities as of December 31, 2019.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Fair Value of Financial Assets and Liabilities Measured on a Recurring Basis</b></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Financial liabilities measured at fair value on a recurring basis are summarized below and disclosed on the consolidated balance sheet as of March 31, 2020.</p><br/><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; border-bottom: Black 1.5pt solid">Liabilities</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Amounts at Fair Value</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Level 1</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Level 2</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Level 3</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 52%; text-align: left">Derivative liability &#x2013; conversion feature</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">308,641</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">&#xa0;&#xa0;&#xa0;&#xa0;&#xa0;&#xa0;&#xa0;&#xa0;&#xa0;-</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">-</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">308,641</td><td style="width: 1%; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-bottom: 1.5pt">Derivative liability - warrants</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">263,202</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">263,202</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 4pt; padding-left: 9pt">Total</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">571,843</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">-</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">-</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">571,843</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td></tr> </table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Income Taxes</i></b></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company accounts for income taxes using the asset-and-liability method in accordance with ASC Topic 740, &#x201c;Income Taxes&#x201d;. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on the deferred tax assets and liabilities of a change in tax rate is recognized in the period that includes the enactment date. A valuation allowance is recorded if it is more-likely-than-not that some portion or all of the deferred tax assets will not be realized in future periods.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company follows the guidance in ASC Topic 740-10 in assessing uncertain tax positions. The standard applies to all tax positions and clarifies the recognition of tax benefits in the financial statements by providing for a two-step approach of recognition and measurement. The first step involves assessing whether the tax position is more-likely-than-not to be sustained upon examination based upon its technical merits. The second step involves measurement of the amount to be recognized. Tax positions that meet the more-likely-than-not threshold are measured at the largest amount of tax benefit that is greater than 50% likely of being realized upon ultimate finalization with the taxing authority. The Company recognizes the impact of an uncertain income tax position in the financial statements if it believes that the position is more likely than not to be sustained by the relevant taxing authority. The Company will recognize interest and penalties related to tax positions in income tax expense. As of March 31, 2020 and December 31, 2019, the Company had no unrecognized uncertain income tax positions.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On December 22, 2017, the passage of legislation commonly referred to as the Tax Cuts and Jobs Act (&#x201c;TCJA&#x201d;) was enacted and significantly revised the U.S. income tax law. The TCJA includes changes, which reduce the corporate income tax rate from 34% to 21% for years beginning after December 31, 2017. On December 22, 2017, Staff Accounting Bulletin No. 118 (&#x201c;SAB 118") was issued and allows a company to recognize provisional amounts when it does not have the necessary information available, prepared or analyzed, including computations, in reasonable detail to complete its accounting for the change in tax law. SAB 118 provides for a measurement of up to one year from the date of enactment.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i>Recent Issued Accounting Pronouncements</i></b></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">From time to time, new accounting pronouncements are issued by the Financial Accounting Standard Board (&#x201c;FASB&#x201d;) or other standard setting bodies that the Company adopts as of the specified effective date. Unless otherwise discussed, the Company does not believe that the impact of recently issued standards that are not yet effective will have a material impact on the Company&#x2019;s financial position or results of operations upon adoption.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In June&#xa0;2016, the Financial Accounting Standards Board (the &#x201c;FASB&#x201d;) issued Accounting Standards Update (&#x201c;ASU&#x201d;) 2016-13, &#x201c;Measurement of Credit Losses on Financial Instruments,&#x201d; which requires measurement and recognition of expected credit losses at the point a loss is probable to occur, rather than expected to occur, which will generally result in earlier recognition of allowances for credit losses. The new guidance is effective for fiscal years beginning after December&#xa0;15, 2019, including interim periods within those fiscal years. The Company adopted ASU 2016-13 in the first quarter of 2020 and the adoption did not have a material impact on its condensed consolidated financial statements.</p><br/> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i>Basis of Presentation</i></b></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The accompanying consolidated financial statements have been prepared in&#xa0;accordance with GAAP.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Principles of Consolidation</i></b></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company evaluates the need to consolidate affiliates based on standards set forth in ASC 810 Consolidation (&#x201c;ASC 810").</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The consolidated financial statements include the accounts of the Company and its subsidiaries, MemoryMD and MemoryMD - Russia. The operations of the newly formed 100% wholly owned subsidiary, MemoryMD &#x2013; Russia, are included beginning April 1, 2019. All significant consolidated transactions and balances have been eliminated in consolidation.</p> 1.00 <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Use of Estimates</i></b></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The preparation of financial statements in accordance with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Significant estimates include the useful life of property and equipment and assumptions used in the valuation of options and warrants.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Cash and Cash Equivalents</i></b></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company considers all highly liquid temporary cash investments with an original maturity of three months or less to be cash equivalents. At March 31, 2020 and December 31, 2019, the Company had no cash equivalents.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company&#x2019;s cash is held with financial institutions, and the account balances may, at times, exceed the Federal Deposit Insurance Corporation (FDIC) insurance limit. Accounts are insured by the FDIC up to $250,000 per financial institution. The Company has not experienced any losses in such accounts with these financial institutions. As of March 31, 2020 and December 31, 2019, the Company had $0 and $11,436, respectively, in excess over the FDIC insurance limit.</p> 250000 0 11436 <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Inventory </i></b></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Inventory consists of finished goods that are valued at lower of cost or market using the weighted average method.&#xa0; As of March 31, 2020 and December 31, 2019, the Company had inventory totaling $371 and $0, respectively.</p> 371 0 <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i>Property, Equipment and Depreciation</i></b></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Property and equipment are recorded at cost, less depreciation. Depreciation is computed using the straight-line method over the estimated useful lives of the assets. Expenditures for repair and maintenance are charged to operations as incurred. Property and equipment consisted of computer equipment, with an estimated useful life of three years. Depreciation expense was $341 and $299 for the three months ended March 31, 2020 and 2019, respectively.</p> 341 299 <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Convertible Notes Payable</i></b></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company has issued convertible notes, which contain variable conversion features, whereby the outstanding principal and accrued interest automatically convert into common shares at a fixed price which may be at a discount to the common stock at the time of conversion. For certain notes, the conversion features of these notes are contingent upon future events, whereby, the holder agreed not to convert until the contingent future event has occurred.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Derivative Instruments</i></b></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company evaluates its convertible notes and warrants to determine if those contracts or embedded components of those contracts qualify as derivatives to be separately accounted for in accordance with ASC 815. The result of this accounting treatment is that the fair value of the embedded derivative is recorded as a liability and marked-to-market each balance sheet date. In the event that the fair value is recorded as a liability, the change in fair value is recorded in the statements of operations as other income or expense. Upon conversion or exercise of a derivative instrument, the instrument is marked to fair value at the conversion date and then that fair value is reclassified to equity.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company utilizes the Monte Carlo Method that values the liability of the debt conversion feature derivative financial instruments and derivative warrants based on a probability of a down round event. The reason the Company selected the lattice binomial model is that in many cases there may be multiple embedded features or the features of the bifurcated derivatives may be so complex that a Black-Scholes valuation does not consider all of the terms of the instrument. Therefore, the fair value may not be appropriately captured by simple models.&#xa0;</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">From time to time, certain of the Company&#x2019;s embedded conversion features on debt and outstanding warrants have been treated as derivative liabilities for accounting purposes under ASC 815 due to insufficient authorized shares to fully settle conversion features of the instruments if exercised. In this case, the Company utilized the latest inception date sequencing method to reclassify outstanding instruments as derivative instruments. These contracts were recognized at fair value with changes in fair value recognized in earnings until such time as the conditions giving rise to such derivative liability classification were settled.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Revenue Recognition</i></b></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On January 1, 2018, the Company adopted ASC Topic 606 Revenue from Contracts with Customers. This guidance requires an entity to recognize revenue by applying the following steps:&#xa0; (1) identify the contract with a customer; (2) identify the performance obligations in the contract; (3) determine the transaction price; (4) allocate the transaction price to each performance obligation in the contract; and (5) recognize revenue when each performance obligation is satisfied. Once the steps are met, revenue is recognized, generally upon receiving a letter of acceptance from the customer. There has been no material effect on the Company&#x2019;s financial statements as a result of adopting Topic 606.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company recognizes revenue from the sale of NeuroCaps, Universal as well as revenue from the sale of goods purchased through manufacturers of medical devices. All revenue for the three months ended March 31, 2020 is from the sale of medical devices purchased from Neurotech, a related party.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Research and Development Costs</i></b></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company expenses all research and development costs as they are incurred. Research and development includes expenditures in connection with in-house research and development salaries and staff costs, application and filing for regulatory approval of proposed products, regulatory and scientific consulting fees, as well as contract research, data collection, and monitoring, related to the research and development of the cloud infrastructure, data imaging, and proprietary products and technology. Research and development costs recognized in the statement of operations for the three months ended March 31, 2020 and 2019 were $96,390 and $22,290, respectively.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Sales and Marketing</i></b></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Advertising and marketing costs are expensed as incurred. Advertising and marketing costs recognized in the statement of operations for the three months ended March 31, 2020 and 2019 were $40,584 and $47,792, respectively.</p> 40584 47792 <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Stock-based Compensation</i></b></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company measures and recognizes compensation expense for all stock-based payments at fair value over the requisite service period. The Company uses the Black-Scholes option pricing model to determine the weighted average fair value of options and warrants. Equity-based compensation expense is recorded in administrative expenses based on the classification of the employee or vendor. The determination of fair value of stock-based payment awards on the date of grant using an option-pricing model is affected by our stock price as well as by assumptions regarding a number of subjective variables. These variables include, but are not limited to, the expected stock price volatility over the term of the awards, and actual and projected employee stock option exercise behaviors.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i>Basic and Diluted Net Loss Per Common Share</i></b></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Basic net loss per share is computed by dividing the net loss by the weighted average number of common shares outstanding during the period. Diluted net loss per common share is computed by dividing the net loss by the weighted average number of common shares outstanding for the period and, if dilutive, potential common shares outstanding during the period. Potentially dilutive securities consist of the incremental common shares issuable upon exercise of common stock equivalents such as stock options, warrants and convertible debt instruments. Potentially dilutive securities are excluded from the computation if their effect is anti-dilutive. As a result, the basic and diluted per share amounts for all periods presented are identical. In the three months ended March 31, 2020 2,302,250 anti-dilutive securities were excluded from the computation.</p> 2302250 <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i>Fair Value of Financial Instruments</i></b></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company&#x2019;s financial instruments are measured and recorded at fair value based on inputs and assumptions that market participants would use in pricing an asset or a liability. Fair value is defined as the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. When determining fair value, management considers the principal or most advantageous market in which the Company would transact, and also considers assumptions that market participants would use when pricing the asset or liability, such as inherent risk, transfer restrictions, and risk of non-performance.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Fair value is determined for assets and liabilities using a three-tiered value hierarchy into which these assets and liabilities are grouped based upon significant inputs as follows:</p><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: top"> <td style="width: 24px">&#xa0;</td> <td style="width: 24px"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#x25cf;</font></td> <td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Level 1 - Quoted prices in active markets for identical assets or liabilities.</font></td></tr> </table><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: top"> <td style="width: 24px">&#xa0;</td> <td style="width: 24px"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#x25cf;</font></td> <td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Level 2 - Observable inputs, other than Level 1 prices, such as quoted prices in active markets for similar assets and liabilities, quoted prices for identical or similar assets and liabilities in markets that are not active, or other inputs that are observable or can be corroborated by observable market data.</font></td></tr> </table><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: top"> <td style="width: 24px">&#xa0;</td> <td style="width: 24px"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#x25cf;</font></td> <td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Level 3 - Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. This includes certain pricing models, discounted cash flow methodologies and similar techniques that use significant unobservable inputs. When a determination is made to classify a financial instrument within Level 3, the determination is based upon the lack of significance of the observable parameters to the overall fair value measurement. However, the fair value determination for Level 3 financial instruments may consider some observable market inputs.</font></td></tr> </table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The lowest level of significant input determines the placement of the entire fair value measurement in the hierarchy. The carrying values of cash, prepaid expenses and other current assets, convertible notes, accounts payable, loans payable and due to others approximate fair value due to the short-term nature of these items.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company did not have any other Level 1 or Level 2 assets or liabilities as of March 31, 2020 and the Company did not have any other Level 1, Level 2 or Level 3 assets or liabilities as of December 31, 2019.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Fair Value of Financial Assets and Liabilities Measured on a Recurring Basis</b></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Financial liabilities measured at fair value on a recurring basis are summarized below and disclosed on the consolidated balance sheet as of March 31, 2020.</p><br/><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; border-bottom: Black 1.5pt solid">Liabilities</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Amounts at Fair Value</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Level 1</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Level 2</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Level 3</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 52%; text-align: left">Derivative liability &#x2013; conversion feature</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">308,641</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">&#xa0;&#xa0;&#xa0;&#xa0;&#xa0;&#xa0;&#xa0;&#xa0;&#xa0;-</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">-</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">308,641</td><td style="width: 1%; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-bottom: 1.5pt">Derivative liability - warrants</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">263,202</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">263,202</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 4pt; padding-left: 9pt">Total</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">571,843</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">-</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">-</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">571,843</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Income Taxes</i></b></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company accounts for income taxes using the asset-and-liability method in accordance with ASC Topic 740, &#x201c;Income Taxes&#x201d;. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on the deferred tax assets and liabilities of a change in tax rate is recognized in the period that includes the enactment date. A valuation allowance is recorded if it is more-likely-than-not that some portion or all of the deferred tax assets will not be realized in future periods.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company follows the guidance in ASC Topic 740-10 in assessing uncertain tax positions. The standard applies to all tax positions and clarifies the recognition of tax benefits in the financial statements by providing for a two-step approach of recognition and measurement. The first step involves assessing whether the tax position is more-likely-than-not to be sustained upon examination based upon its technical merits. The second step involves measurement of the amount to be recognized. Tax positions that meet the more-likely-than-not threshold are measured at the largest amount of tax benefit that is greater than 50% likely of being realized upon ultimate finalization with the taxing authority. The Company recognizes the impact of an uncertain income tax position in the financial statements if it believes that the position is more likely than not to be sustained by the relevant taxing authority. The Company will recognize interest and penalties related to tax positions in income tax expense. As of March 31, 2020 and December 31, 2019, the Company had no unrecognized uncertain income tax positions.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On December 22, 2017, the passage of legislation commonly referred to as the Tax Cuts and Jobs Act (&#x201c;TCJA&#x201d;) was enacted and significantly revised the U.S. income tax law. The TCJA includes changes, which reduce the corporate income tax rate from 34% to 21% for years beginning after December 31, 2017. On December 22, 2017, Staff Accounting Bulletin No. 118 (&#x201c;SAB 118") was issued and allows a company to recognize provisional amounts when it does not have the necessary information available, prepared or analyzed, including computations, in reasonable detail to complete its accounting for the change in tax law. SAB 118 provides for a measurement of up to one year from the date of enactment.</p> 0.50 0.34 0.21 <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i>Recent Issued Accounting Pronouncements</i></b></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">From time to time, new accounting pronouncements are issued by the Financial Accounting Standard Board (&#x201c;FASB&#x201d;) or other standard setting bodies that the Company adopts as of the specified effective date. Unless otherwise discussed, the Company does not believe that the impact of recently issued standards that are not yet effective will have a material impact on the Company&#x2019;s financial position or results of operations upon adoption.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In June&#xa0;2016, the Financial Accounting Standards Board (the &#x201c;FASB&#x201d;) issued Accounting Standards Update (&#x201c;ASU&#x201d;) 2016-13, &#x201c;Measurement of Credit Losses on Financial Instruments,&#x201d; which requires measurement and recognition of expected credit losses at the point a loss is probable to occur, rather than expected to occur, which will generally result in earlier recognition of allowances for credit losses. The new guidance is effective for fiscal years beginning after December&#xa0;15, 2019, including interim periods within those fiscal years. The Company adopted ASU 2016-13 in the first quarter of 2020 and the adoption did not have a material impact on its condensed consolidated financial statements.</p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; border-bottom: Black 1.5pt solid">Liabilities</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Amounts at Fair Value</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Level 1</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Level 2</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Level 3</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 52%; text-align: left">Derivative liability &#x2013; conversion feature</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">308,641</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">&#xa0;&#xa0;&#xa0;&#xa0;&#xa0;&#xa0;&#xa0;&#xa0;&#xa0;-</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">-</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">308,641</td><td style="width: 1%; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-bottom: 1.5pt">Derivative liability - warrants</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">263,202</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">263,202</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 4pt; padding-left: 9pt">Total</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">571,843</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">-</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">-</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">571,843</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td></tr> </table> 308641 308641 263202 263202 571843 571843 <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>NOTE 3 &#x2013; GOING CONCERN </b></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The accompanying financial statements have been prepared in conformity with U.S. GAAP, which contemplate continuation of the Company as a going concern for a period of one year from the issuance of these financial statements. For the three months ended March 31, 2020, the Company had $133,845 in revenues, a net loss of $951,660 and had net cash used in operations of $252,319. Additionally, as of March 31, 2020, the Company had working capital deficit, stockholders&#x2019; deficit and accumulated deficit of $1,833,662, $1,832,329 and $4,623,737 respectively. It is management&#x2019;s opinion that these conditions raise substantial doubt about the Company&#x2019;s ability to continue as a going concern for a period of twelve months from the date of the issuance of these financial statements.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The financial statements do not include any adjustments to reflect the possible future effect on the recoverability and classification of assets or the amounts and classifications of liabilities that may result from the outcome of this uncertainty.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Successful completion of the Company&#x2019;s development program and, ultimately, the attainment of profitable operations are dependent upon future events, including obtaining adequate financing to fulfill its development activities, acceptance of the Company&#x2019;s patent applications and ultimately achieving a level of sales adequate to support the Company&#x2019;s cost structure. However, there can be no assurances that the Company will be able to secure additional equity investments or achieve an adequate sales level.</p><br/> 1833662 <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>NOTE 4 &#x2013; CONVERTIBLE NOTES PAYABLE</b></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In January 2019, the Company commenced an offering of up to $500,000 pursuant to which the Company will issue convertible notes to investors. On January 18, 2019, February 5, 2019 and July 23, 2019, the Company issued three such convertible notes payable to three investors for $100,000, $130,000 and $150,000, respectively. The notes bear interest at a fixed rate of 10% per annum, computed based on a 360-day year and mature on the earlier of one year from the date of issuance or the consummation of an equity or equity-linked round of financing of the Company in excess of $1,000,000 (&#x201c;Qualified Financing&#x201d;) or other event pursuant to which conversion shares are to be issued pursuant to the terms of the note. On February 28, 2020, the Company and the holder of the January 18, 2019 convertible note agreed to extend the maturity date of the January 18, 2019 convertible note to January 18, 2021. Also on February 28, 2020, the Company and the holder of the February 5, 2019 convertible note agreed to extend the maturity date of the February 5, 2019 convertible note to February 5, 2021.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The notes are convertible into common stock of the Company following events on the following terms: with no action on the part of the note holder upon the consummation of a Qualified Financing, the debt will be converted to new round stock based on the product of the outstanding principal and accrued interest multiplied by 1.35, then divided by the accrual per share price of the new round common stock. If a change of control occurs or if the Company completes a firmly underwritten public offering of its common stock prior to the Qualified Financing the notes would, at the election of the holders of a majority of the outstanding principal of the notes, be either payable on demand as of the closing of such change of control or Initial Public Offering (&#x2018;IPO&#x201d;) or convertible into shares of common stock immediately prior to such change of control transaction or IPO transaction at a price per share equal to the lesser of the per share value of the common stock as determined by the Company&#x2019;s Board of Directors or the per share consideration to be received by the holders of the common stock in such change of control or IPO transaction. Based on the terms of the conversion, the holders may receive a discount, and the notes are considered to have a contingent beneficial conversion feature. If conversion of the debt occurs, the Company will recognize an expense related to the intrinsic value. The Company recorded $37,541of accrued interest and has a total outstanding principal balance of $380,000 as of March 31, 2020.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In the event that the Company consummates a financing prior to the Maturity Date, other than a Qualified Financing, and the economic terms thereof are more favorable to the investors in such financing than the terms of the note, the note shall automatically be amended to reflect such more favorable economic terms.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i><font style="text-decoration:underline">December 31, 2019 Securities Purchase Agreement</font></i></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On December 31, 2019, the Company entered into a Securities Purchase Agreement and issued and sold to a third party (the &#x201c;Investor&#x201d;) a Convertible Note in the original principal amount of $275,000 (the &#x201c;Note&#x201d;), and a warrant to purchase 100,000 shares of the Company&#x2019;s common stock (the &#x201c;Warrant&#x201d;). The aggregate purchase price received by the Company was $250,000 after an original issue discount of $25,000. A one-time interest charge of 8% was applied on December 31, 2019 and will be payable, along with the Principal, on July 31, 2020 (the &#x201c;Maturity Date&#x201d;), as may be extended at the option of the Investor.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The unpaid outstanding principal amount and accrued and unpaid interest under the Note shall be convertible into shares of the Company&#x2019;s common stock at any time at the option of the Investor. The conversion price shall be equal to 80% multiplied by the price per share paid by the investors in the next capital raising transaction consummated by the Company in the amount of $1,000,000 or more (the &#x201c;Qualified Financing&#x201d;), subject to adjustments as provided in the Note. In the event the Investor elects to convert the Note prior to a Qualified Financing, the conversion price shall be the effective exercise price per share from time to time pursuant to the Warrant. At any time prior to the Maturity Date, upon 10 business days&#x2019; notice to the Investor, the Company shall have the right to pre-pay the entire remaining principal amount of the Note subject to the pre-payment terms contained in the Note. The note is valued at face value and not considered a derivative since the Qualified Financing is at the control of the Company. The Company recorded $9,429 of accrued interest and has a total outstanding principal balance of $275,000 as of March 31, 2020.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Note contains a price-based anti-dilution provision, pursuant to which the conversion price of the Note shall be reduced upon the occurrence of certain dilutive issuances of Company securities as set forth in the Note. The conversion of the Note is also subject to a beneficial ownership limitation of 4.99% of the number of shares of common stock outstanding immediately after giving effect to such conversion. In the event the Company, prior to the Maturity Date, issues any Security (as defined in the Note) with any term more favorable to the holder of such Security or with a term in favor of the holder of such Security that was not similarly provided to the Investor, then at the Investor&#x2019;s option such term shall become a part of the Note. The Company also agreed to provide piggy-back registration rights to the Investor pursuant to which the Company shall include all shares issuable upon conversion of the Note on the next registration statement the Company files with the Securities and Exchange Commission.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Note contains events of default which, among other things, entitle the Investor to accelerate the due date of the unpaid principal amount of, and all accrued and unpaid interest on, the Note. Upon the occurrence of any event of default, the outstanding balance shall immediately and automatically increase to 130% of the outstanding balance immediately prior to the event of default, and the conversion price of the Note shall be redefined to equal 65% of the lowest trade accruing during the 10 consecutive Trading Days (as defined in the Note) immediately preceding the applicable Conversion Date (as defined in the Note). Nickolay Kukekov, a director of the Company, and a third party, each has personally guaranteed the repayment of the Note.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Warrant has an exercise price of $1.25 per share (the &#x201c;Exercise Price&#x201d;), subject to adjustments as provided in the Warrant, and has a term of five years. The Warrant contains a price-based anti-dilution provision, pursuant to which the exercise price of the Warrant shall be reduced upon the occurrence of certain dilutive issuances of securities as set forth in the Warrant, with a corresponding increase in the number of shares underlying the Warrant if the dilutive event occurs during the first three years of the Warrant, and a cashless exercise provision. The exercise of the Warrant is subject to a beneficial ownership limitation of 9.99% of the number of shares of common stock outstanding immediately after giving effect to such exercise. The Company calculated the Warrants at fair value of $130,768 using the Monte Carlo model, which was recognized as a discount to the Note and is being amortized as interest expense over the remaining term of the notes.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In the year ended December 31, 2019, the Company recorded a total debt discount of $155,768 related to the above convertible notes. On March 18, 2020, the Company recorded an additional debt discount of $176,274 related to the above convertible notes. Amortization of the debt discount is recorded as interest expense and a total of $83,523 was amortized during the three months ended March 31, 2020.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Derivative Accounting for the Convertible Notes Payable</i></b></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company evaluated the terms and conditions of the Note under the guidance of ASC 815. The conversion terms of the convertible notes are variable based on certain factors, such as the future price of the Company&#x2019;s common stock. The number of shares of common stock to be issued is based on the future price of the Company&#x2019;s common stock. The number of shares of common stock issuable upon conversion of the promissory note is indeterminate. Due to the fact that the number of shares of common stock issuable could exceed the Company&#x2019;s authorized share limit, the equity environment is tainted,&#xa0;and all additional convertible debentures and warrants are included in the value of the derivative liabilities. Pursuant to ASC 815-15 Embedded Derivatives, the fair values of the variable conversion options and warrants and shares to be issued were recorded as derivative liabilities on the issuance date and revalued at each reporting period.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Certain of the Company&#x2019;s embedded conversion features on debt and outstanding warrants are treated as derivative liabilities for accounting purposes under ASC 815 due to insufficient authorized shares to settle these outstanding contracts, or due to other rights connected with these contracts, such as registration rights. In the case of insufficient authorized share capital available to fully settle outstanding contracts, the Company utilizes the issuance date sequencing method to reclassify outstanding contracts as derivative instruments. These instruments do not trade in an active securities market.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i>Derivative Liabilities</i></b></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The table below provides a summary of the changes in fair value, including net transfers in and/or out of all financial liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) during the three months ended March 31, 2020:</p><br/><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="text-align: justify">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Amount</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Balance on December 31, 2019</td><td>&#xa0;</td> <td style="text-align: left">$</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="width: 88%; text-align: justify">Issuances to debt discount</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">176,274</td><td style="width: 1%; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Issuances to interest expense</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">348,350</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify">Change in fair value of derivative liabilities</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">39,916</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1.5pt">Change in fair value of warrant liabilities</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">7,303</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify; padding-bottom: 4pt">Balance on March 31, 2020</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">571,843</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td></tr> </table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The fair value of the derivative conversion features and warrant liabilities as of March 31, 2020 were calculated using a Monte-Carlo option model valued with the following assumptions:</p><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="text-align: justify">&#xa0;</td> <td>&#xa0;</td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>March 31, <br/> 2020</b></font></td> <td>&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="width: 87%; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Dividend yield</font></td> <td style="width: 1%">&#xa0;</td> <td style="width: 1%"></td> <td style="width: 10%; text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">0</font></td> <td style="width: 1%"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</font></td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Expected volatility</font></td> <td>&#xa0;</td> <td>&#xa0;</td> <td style="text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">108% - 130.3</font></td> <td><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</font></td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Risk free interest rate</font></td> <td>&#xa0;</td> <td>&#xa0;</td> <td style="white-space: nowrap; text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.21% - 0.51</font></td> <td><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</font></td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Contractual terms (in years)</font></td> <td>&#xa0;</td> <td>&#xa0;</td> <td style="text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.08 &#x2013; 4.50</font></td> <td>&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Conversion/Exercise price</font></td> <td>&#xa0;</td> <td><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</font></td> <td style="text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.80 - $1.25</font></td> <td>&#xa0;</td></tr> </table><br/> 500000 100000 130000 150000 The notes bear interest at a fixed rate of 10% per annum, computed based on a 360-day year and mature on the earlier of one year from the date of issuance or the consummation of an equity or equity-linked round of financing of the Company in excess of $1,000,000 (&#x201c;Qualified Financing&#x201d;) or other event pursuant to which conversion shares are to be issued pursuant to the terms of the note. 380000 275000 100000 250000 25000 0.08 The unpaid outstanding principal amount and accrued and unpaid interest under the Note shall be convertible into shares of the Company&#x2019;s common stock at any time at the option of the Investor. The conversion price shall be equal to 80% multiplied by the price per share paid by the investors in the next capital raising transaction consummated by the Company in the amount of $1,000,000 or more (the &#x201c;Qualified Financing&#x201d;), subject to adjustments as provided in the Note. In the event the Investor elects to convert the Note prior to a Qualified Financing, the conversion price shall be the effective exercise price per share from time to time pursuant to the Warrant. At any time prior to the Maturity Date, upon 10 business days&#x2019; notice to the Investor, the Company shall have the right to pre-pay the entire remaining principal amount of the Note subject to the pre-payment terms contained in the Note. The note is valued at face value and not considered a derivative since the Qualified Financing is at the control of the Company. The Company recorded $9,429 of accrued interest and has a total outstanding principal balance of $275,000 as of March 31, 2020. 0.0499 1.30 0.65 1.25 0.0999 130768 155768 176274 83523 <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="text-align: justify">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Amount</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Balance on December 31, 2019</td><td>&#xa0;</td> <td style="text-align: left">$</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="width: 88%; text-align: justify">Issuances to debt discount</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">176,274</td><td style="width: 1%; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Issuances to interest expense</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">348,350</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify">Change in fair value of derivative liabilities</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">39,916</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1.5pt">Change in fair value of warrant liabilities</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">7,303</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify; padding-bottom: 4pt">Balance on March 31, 2020</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">571,843</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td></tr> </table> 176274 348350 39916 7303 571843 <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="text-align: justify">&#xa0;</td> <td>&#xa0;</td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>March 31, <br/> 2020</b></font></td> <td>&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="width: 87%; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Dividend yield</font></td> <td style="width: 1%">&#xa0;</td> <td style="width: 1%"></td> <td style="width: 10%; text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">0</font></td> <td style="width: 1%"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</font></td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Expected volatility</font></td> <td>&#xa0;</td> <td>&#xa0;</td> <td style="text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">108% - 130.3</font></td> <td><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</font></td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Risk free interest rate</font></td> <td>&#xa0;</td> <td>&#xa0;</td> <td style="white-space: nowrap; text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.21% - 0.51</font></td> <td><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</font></td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Contractual terms (in years)</font></td> <td>&#xa0;</td> <td>&#xa0;</td> <td style="text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.08 &#x2013; 4.50</font></td> <td>&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Conversion/Exercise price</font></td> <td>&#xa0;</td> <td><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</font></td> <td style="text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.80 - $1.25</font></td> <td>&#xa0;</td></tr> </table> 0.00 1.08 1.303 0.0021 0.0051 P29D P4Y6M 0.80 1.25 <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>NOTE 5 &#x2013; PROMISSORY NOTES</b></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i><font style="text-decoration:underline">October 23, 2019 Note</font></i></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On October 23, 2019, an investor of the Company subscribed for a promissory note (the &#x201c;October Note&#x201d;) and loaned to the Company $50,000.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The October Note bears interest at a fixed rate of 14% per annum, computed based on a 360-day year of twelve 30-day months, which interest will be payable quarterly until the maturity date. The principal amount and any accrued and unpaid interest due under the October Note is payable on October 21, 2020. The Company recorded $1,359 of accrued interest and has a total outstanding principal balance of $50,000 as of March 31, 2020.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The October Note contains customary events of default, which, if uncured, entitle the lender to accelerate the due date of the unpaid principal amount of, and all accrued and unpaid interest on, the October Note.&#xa0;</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i><font style="text-decoration:underline">February 21, 2020 Note</font></i></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On February 21, 2020, a third party loaned the Company $20,000, evidenced by a non-convertible promissory note (the &#x201c;February Note&#x201d;). The February Note bears interest at a fixed rate of 12% per annum, computed based on a 360-day year of twelve 30-day months, which interest will be payable quarterly until the maturity date. The principal amount and any accrued and unpaid interest due under the February Note is payable on July 1, 2020. The Company recorded $260 of accrued interest and has a total outstanding principal balance of $20,000 as of March 31, 2020.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The February Note contains customary events of default, which, if uncured, entitle the lender to accelerate the due date of the unpaid principal amount of, and all accrued and unpaid interest on, the February Note.</p><br/> 50000 The October Note bears interest at a fixed rate of 14% per annum, computed based on a 360-day year of twelve 30-day months, which interest will be payable quarterly until the maturity date. 1359 50000 20000 The February Note bears interest at a fixed rate of 12% per annum, computed based on a 360-day year of twelve 30-day months, which interest will be payable quarterly until the maturity date. 260 20000 <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>NOTE 6 &#x2013; OTHER LIABILITIES</b></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In 2016, the Company recorded a liability in connection with the sale of two Electroencephalograms (&#x201c;EEG&#x201d;) machines as it provided a guarantee to the customer&#x2019;s financing company (See Note 2). In June 2017, the customer defaulted on its payments and an additional $19,107 was booked as a liability and recognized as a loss on the sale of the assets for interest and some taxes related to the transaction. As of March 31, 2020 and December 31, 2019, total liability to the financing company reflected in Other Liabilities is $4,595 and $6,377, respectively.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Future minimum commitments related to the EEG liability consisted of the following at March 31, 2020:</p><br/><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; border-bottom: Black 1.5pt solid">Years ended December 31,</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Amount (USD)</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt; width: 88%; font-weight: bold">Remainder 2020</td><td style="padding-bottom: 1.5pt; width: 1%">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; width: 1%; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; width: 9%; text-align: right">4,595</td><td style="padding-bottom: 1.5pt; width: 1%; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="font-weight: bold; padding-bottom: 4pt; padding-left: 9pt">Total</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">4,595</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td></tr> </table><br/> 2 19107 4595 6377 <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; border-bottom: Black 1.5pt solid">Years ended December 31,</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Amount (USD)</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt; width: 88%; font-weight: bold">Remainder 2020</td><td style="padding-bottom: 1.5pt; width: 1%">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; width: 1%; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; width: 9%; text-align: right">4,595</td><td style="padding-bottom: 1.5pt; width: 1%; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="font-weight: bold; padding-bottom: 4pt; padding-left: 9pt">Total</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">4,595</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td></tr> </table> 4595 4595 <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>NOTE 7 &#x2013; RELATED PARTY TRANSACTIONS</b></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">During the year ended December 31, 2018, an entity controlled by Mr. Vadim Sakharov, former CEO of the Company and current director and executive officer, provided a $50,000 non-interest-bearing, no-term loan to the Company. An additional $5,530 of non-interest bearing no-term proceeds were loaned to the Company during the year ended December 31, 2019. As of March 31, 2020, and December 31, 2019, the balance was $55,530 and $55,530, respectively.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">During the three months ended March 31, 2020 and 2019, the Company had expenses related to research and development costs of $10,200 and $0, respectively, to an entity controlled by Mr. Sakharov.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">During the year ended December 31, 2019, an affiliate of Boris Goldstein, the Company&#x2019;s Chairman of the Board, provided an aggregate total of $50,000, in non-interest-bearing, no-term loans to the Company. As of March 31, 2020 and December 31, 2019, the balance was $50,000 and $50,000, respectively.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On September 1, 2018, the Company entered into a sublease agreement with a company controlled by the Company&#x2019;s Chairman, whereby the Company makes payments to the related party for shared office space. This lease was terminated on March 31, 2019. For the three months ended March 31, 2020 and 2019, the Company has made approximately $0 and $4,900, respectively, in rent payments to the related party.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">During the year ended December 31, 2019, an affiliate of Nickolay Kukekov, a director of the Company, provided an aggregate total of $217,000 in non-interest-bearing, no-term loans to the Company. As of March 31, 2020 and December 31, 2019, the balance was $217,000 and $217,000, respectively.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">During the three months ended March 31, 2020 and 2019, the Company purchased an aggregate of $101,613 and $0 of medical devices for resale and distribution from Neurotech, a company that Mr. Sakharov is a shareholder and executive manager.&#xa0;</p><br/> 50000 5530 55530 55530 10200 0 50000 50000 50000 0 4900 217000 217000 217000 101613 0 <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>NOTE 8 &#x2013; STOCKHOLDERS&#x2019; DEFICIT</b></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i><font style="text-decoration:underline">Preferred Stock</font></i></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company has authorized 10,000,000 shares of undesignated preferred stock with a $0.001 par value. As of March 31, 2020, no preferred shares have been issued and these shares are considered blank check preferred shares with no terms, limitations, or rights associated with them.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i><font style="text-decoration:underline">Common Stock</font></i></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company has authorized 200,000,000 shares of common stock with a $0.001 par value per share. The holders of common stock are entitled to one vote for each share of common stock held at the time of vote. As of March 31, 2020, the Company had 19,383,794 shares outstanding or deemed outstanding.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i><font style="text-decoration:underline">Shares Issued for Services</font></i></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On August 8, 2018, the Company entered into a one-year agreement with an advisor for consulting services, as extended for an additional one-year period. The Company extended this agreement through August 9, 2020. Pursuant to the agreement, as amended, the Company has the right to pay $5,000 or issue the advisor a maximum of 6,667 shares of common stock on a quarterly basis. The Company elected to issue 1,667 shares for the services provided during the three months ended March 31, 2020 at a value of $3.00 per share or $5,001.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On August 28, 2018, the Company entered into a one-year agreement with an advisor for consulting services, as extended for an additional one-year period. The Company has extended this agreement through August 28, 2020. Pursuant to the agreement, as amended, the Company has the right to pay $5,000 or issue the advisor a maximum of 6,667 shares of common stock on a quarterly basis. The Company elected to issue 1,667 shares for the services provided during the three months ended March 31, 2020 at a value of $3.00 per share or $5,001.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i><font style="text-decoration:underline">Warrants</font></i></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The following table summarized the warrant activity for the three months ended March 31, 2020:</p><br/><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td style="font-weight: bold">&#xa0;</td> <td colspan="2" style="font-weight: bold; text-align: center">Weighted</td><td style="font-weight: bold">&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td style="font-weight: bold">&#xa0;</td> <td colspan="2" style="font-weight: bold; text-align: center">Weighted</td><td style="font-weight: bold">&#xa0;</td><td style="font-weight: bold">&#xa0;</td> <td colspan="2" style="font-weight: bold; text-align: center">Average</td><td style="font-weight: bold">&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td style="font-weight: bold">&#xa0;</td> <td colspan="2" style="font-weight: bold; text-align: center">Average</td><td style="font-weight: bold">&#xa0;</td><td style="font-weight: bold">&#xa0;</td> <td colspan="2" style="font-weight: bold; text-align: center">Remaining</td><td style="font-weight: bold">&#xa0;</td><td style="font-weight: bold">&#xa0;</td> <td colspan="2" style="font-weight: bold; text-align: center">Aggregate</td><td style="font-weight: bold">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td>&#xa0;</td><td style="font-weight: bold">&#xa0;</td> <td colspan="2" style="font-weight: bold; text-align: center">Number of</td><td style="font-weight: bold">&#xa0;</td><td style="font-weight: bold">&#xa0;</td> <td colspan="2" style="font-weight: bold; text-align: center">Exercise</td><td style="font-weight: bold">&#xa0;</td><td style="font-weight: bold">&#xa0;</td> <td colspan="2" style="font-weight: bold; text-align: center">Contractual</td><td style="font-weight: bold">&#xa0;</td><td style="font-weight: bold">&#xa0;</td> <td colspan="2" style="font-weight: bold; text-align: center">Intrinsic</td><td style="font-weight: bold">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: justify; border-bottom: Black 1.5pt solid">Warrants</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Shares</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Price</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Term</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Value</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 52%; text-align: justify">Balance Outstanding, December 31, 2019</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">502,250</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">0.57</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">3.98</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">&#xa0;&#xa0;&#xa0;&#xa0;&#xa0;&#xa0;&#xa0;&#xa0;&#xa0;-</td><td style="width: 1%; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify">Granted</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Forfeited</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify">Exercised</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1.5pt">Expired</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify; padding-bottom: 4pt">Balance Outstanding, March 31, 2020</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">502,250</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">0.57</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">3.73</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">-</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify; padding-bottom: 4pt">Exercisable, March 31, 2020</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">502,250</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">0.57</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">3.73</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">-</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td></tr> </table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i><font style="text-decoration:underline">Options</font></i></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On January 14, 2019, the Board of Directors approved the issuance of options to purchase an aggregate of 800,000 and 200,000 shares of common stock to Boris Goldstein and Vadim Sakharov, respectively. The options have an exercise price of $0.75 per share which will vest over a 24-month period as follows: 25% (or 200,000 and 50,000, respectively) shall vest six months after the grant date with the remaining options will vest on a monthly basis at a rate of 1/24<sup>th</sup> per month. The options will expire on January 14, 2029. The aggregate fair value of $17,111 was calculated using the Black-Scholes pricing model with the following assumptions: (i) expected life 10 years, (ii) volatility of 77%, (iii) risk free rate of 2.71% (iv) dividend rate of zero, (v) stock price of $0.042, and (vi) exercise price of $0.75. The expense will be amortized over the vesting period and a total of $10,432 was recorded during the year ended December 31, 2019. A total of $1,595 was recorded during the three months ended March 31, 2020.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On January 30, 2020, the Board of Directors approved the issuance of options to purchase an aggregate of 800,000 of common stock to Boris Goldstein. The options have an exercise price of $0.75 per share which will vest over a 24-month period on a monthly basis at a rate of 1/24<sup>th</sup> per month. The options will expire on January 30, 2030. The aggregate fair value of $51,757 was calculated using the Black-Scholes pricing model with the following assumptions: (i) expected life 10 years, (ii) volatility of 76%, (iii) risk free rate of 1.57% (iv) dividend rate of zero, (v) stock price of $0.12, and (vi) exercise price of $0.75. The expense will be amortized over the vesting period. A total of $4,319 was recorded during the three months ended March 31, 2020.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The following table summarized the option activity for the three months ended March 31, 2020:</p><br/><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td style="font-weight: bold">&#xa0;</td> <td colspan="2" style="font-weight: bold; text-align: center">Weighted</td><td style="font-weight: bold">&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td style="font-weight: bold">&#xa0;</td> <td colspan="2" style="font-weight: bold; text-align: center">Weighted</td><td style="font-weight: bold">&#xa0;</td><td style="font-weight: bold">&#xa0;</td> <td colspan="2" style="font-weight: bold; text-align: center">Average</td><td style="font-weight: bold">&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td style="font-weight: bold">&#xa0;</td> <td colspan="2" style="font-weight: bold; text-align: center">Average</td><td style="font-weight: bold">&#xa0;</td><td style="font-weight: bold">&#xa0;</td> <td colspan="2" style="font-weight: bold; text-align: center">Remaining</td><td style="font-weight: bold">&#xa0;</td><td style="font-weight: bold">&#xa0;</td> <td colspan="2" style="font-weight: bold; text-align: center">Aggregate</td><td style="font-weight: bold">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td>&#xa0;</td><td style="font-weight: bold">&#xa0;</td> <td colspan="2" style="font-weight: bold; text-align: center">Number of</td><td style="font-weight: bold">&#xa0;</td><td style="font-weight: bold">&#xa0;</td> <td colspan="2" style="font-weight: bold; text-align: center">Exercise</td><td style="font-weight: bold">&#xa0;</td><td style="font-weight: bold">&#xa0;</td> <td colspan="2" style="font-weight: bold; text-align: center">Contractual</td><td style="font-weight: bold">&#xa0;</td><td style="font-weight: bold">&#xa0;</td> <td colspan="2" style="font-weight: bold; text-align: center">Intrinsic</td><td style="font-weight: bold">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: justify; border-bottom: Black 1.5pt solid">Options</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Shares</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Price</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Term</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Value</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 52%; text-align: justify">Balance Outstanding, December 31, 2019</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">1,000,000</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">0.75</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">9.05</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">&#xa0;&#xa0;&#xa0;&#xa0;&#xa0;&#xa0;&#xa0;&#xa0;&#xa0;&#xa0;-</td><td style="width: 1%; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify">Granted</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">800,000</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">0.75</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">10</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Forfeited</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify">Exercised</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1.5pt">Expired</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify; padding-bottom: 4pt">Balance Outstanding, March 31, 2020</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">1,800,000</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">0.75</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">9.26</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">-</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify; padding-bottom: 4pt">Exercisable, March 31, 2020</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">818,750</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">0.75</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">8.92</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">-</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td></tr> </table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">For future periods, the remaining value of the stock options totaling approximately $52,523 will be amortized into the statement of operations consistent with the period for which the services will be rendered. <b>&#xa0;</b></p><br/> 19383794 5000 6667 1667 3.00 5001 6667 1667 3 3.00 5001 800000 200000 The options have an exercise price of $0.75 per share which will vest over a 24-month period as follows: 25% (or 200,000 and 50,000, respectively) shall vest six months after the grant date with the remaining options will vest on a monthly basis at a rate of 1/24th per month. 0.75 P24M 2029-01-14 17111 P10Y 0.77 0.0271 0.00 0.042 0.75 10432 1595 800000 0.75 2030-01-30 51757 P10Y 0.76 0.0157 0.12 0.75 4319 52523 <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td style="font-weight: bold">&#xa0;</td> <td colspan="2" style="font-weight: bold; text-align: center">Weighted</td><td style="font-weight: bold">&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td style="font-weight: bold">&#xa0;</td> <td colspan="2" style="font-weight: bold; text-align: center">Weighted</td><td style="font-weight: bold">&#xa0;</td><td style="font-weight: bold">&#xa0;</td> <td colspan="2" style="font-weight: bold; text-align: center">Average</td><td style="font-weight: bold">&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td style="font-weight: bold">&#xa0;</td> <td colspan="2" style="font-weight: bold; text-align: center">Average</td><td style="font-weight: bold">&#xa0;</td><td style="font-weight: bold">&#xa0;</td> <td colspan="2" style="font-weight: bold; text-align: center">Remaining</td><td style="font-weight: bold">&#xa0;</td><td style="font-weight: bold">&#xa0;</td> <td colspan="2" style="font-weight: bold; text-align: center">Aggregate</td><td style="font-weight: bold">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td>&#xa0;</td><td style="font-weight: bold">&#xa0;</td> <td colspan="2" style="font-weight: bold; text-align: center">Number of</td><td style="font-weight: bold">&#xa0;</td><td style="font-weight: bold">&#xa0;</td> <td colspan="2" style="font-weight: bold; text-align: center">Exercise</td><td style="font-weight: bold">&#xa0;</td><td style="font-weight: bold">&#xa0;</td> <td colspan="2" style="font-weight: bold; text-align: center">Contractual</td><td style="font-weight: bold">&#xa0;</td><td style="font-weight: bold">&#xa0;</td> <td colspan="2" style="font-weight: bold; text-align: center">Intrinsic</td><td style="font-weight: bold">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: justify; border-bottom: Black 1.5pt solid">Warrants</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Shares</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Price</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Term</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Value</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 52%; text-align: justify">Balance Outstanding, December 31, 2019</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">502,250</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">0.57</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">3.98</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">&#xa0;&#xa0;&#xa0;&#xa0;&#xa0;&#xa0;&#xa0;&#xa0;&#xa0;-</td><td style="width: 1%; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify">Granted</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Forfeited</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify">Exercised</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1.5pt">Expired</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify; padding-bottom: 4pt">Balance Outstanding, March 31, 2020</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">502,250</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">0.57</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">3.73</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">-</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify; padding-bottom: 4pt">Exercisable, March 31, 2020</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">502,250</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">0.57</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">3.73</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">-</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td></tr> </table> 502250 0.57 P3Y357D 502250 0.57 P3Y266D 502250 0.57 P3Y266D <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td style="font-weight: bold">&#xa0;</td> <td colspan="2" style="font-weight: bold; text-align: center">Weighted</td><td style="font-weight: bold">&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td style="font-weight: bold">&#xa0;</td> <td colspan="2" style="font-weight: bold; text-align: center">Weighted</td><td style="font-weight: bold">&#xa0;</td><td style="font-weight: bold">&#xa0;</td> <td colspan="2" style="font-weight: bold; text-align: center">Average</td><td style="font-weight: bold">&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td style="font-weight: bold">&#xa0;</td> <td colspan="2" style="font-weight: bold; text-align: center">Average</td><td style="font-weight: bold">&#xa0;</td><td style="font-weight: bold">&#xa0;</td> <td colspan="2" style="font-weight: bold; text-align: center">Remaining</td><td style="font-weight: bold">&#xa0;</td><td style="font-weight: bold">&#xa0;</td> <td colspan="2" style="font-weight: bold; text-align: center">Aggregate</td><td style="font-weight: bold">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td>&#xa0;</td><td style="font-weight: bold">&#xa0;</td> <td colspan="2" style="font-weight: bold; text-align: center">Number of</td><td style="font-weight: bold">&#xa0;</td><td style="font-weight: bold">&#xa0;</td> <td colspan="2" style="font-weight: bold; text-align: center">Exercise</td><td style="font-weight: bold">&#xa0;</td><td style="font-weight: bold">&#xa0;</td> <td colspan="2" style="font-weight: bold; text-align: center">Contractual</td><td style="font-weight: bold">&#xa0;</td><td style="font-weight: bold">&#xa0;</td> <td colspan="2" style="font-weight: bold; text-align: center">Intrinsic</td><td style="font-weight: bold">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: justify; border-bottom: Black 1.5pt solid">Options</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Shares</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Price</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Term</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Value</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 52%; text-align: justify">Balance Outstanding, December 31, 2019</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">1,000,000</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">0.75</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">9.05</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">&#xa0;&#xa0;&#xa0;&#xa0;&#xa0;&#xa0;&#xa0;&#xa0;&#xa0;&#xa0;-</td><td style="width: 1%; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify">Granted</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">800,000</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">0.75</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">10</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Forfeited</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify">Exercised</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1.5pt">Expired</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify; padding-bottom: 4pt">Balance Outstanding, March 31, 2020</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">1,800,000</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">0.75</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">9.26</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">-</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify; padding-bottom: 4pt">Exercisable, March 31, 2020</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">818,750</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">0.75</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">8.92</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">-</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td></tr> </table> 1000000 0.75 P9Y18D 800000 0.75 P10Y 1800000 P9Y94D 818750 0.75 P8Y335D <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>NOTE 9 &#x2013; COMMITMENTS AND CONTINGENCIES</b></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Operating Leases</i></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842), which requires lessees to recognize most leases on their balance sheets as a right-of-use asset with a corresponding lease liability. Lessor accounting under the standard is substantially unchanged. Additional qualitative and quantitative disclosures are also required. The Company adopted the standard effective January 1, 2019 using the cumulative-effect adjustment transition method, which applies the provisions of the standard at the effective date without adjusting the comparative periods presented. The Company adopted the following practical expedients and elected the following accounting policies related to this standard update:</p><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: top"> <td style="width: 24px">&#xa0;</td> <td style="width: 24px"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#x25cf;</font></td> <td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The option to not reassess prior conclusions related to the identification, classification and accounting for initial direct costs for leases that commenced prior to January 1, 2019.</font></td></tr> </table><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: top"> <td style="width: 24px">&#xa0;</td> <td style="width: 24px"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#x25cf;</font></td> <td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Short-term lease accounting policy election allowing lessees to not recognize right-of-use assets and liabilities for leases with a term of 12 months or less.</font></td></tr> </table><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: top"> <td style="width: 24px">&#xa0;</td> <td style="width: 24px"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#x25cf;</font></td> <td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The option to not separate lease and non-lease components for certain equipment lease asset categories such as freight car, vehicles and work equipment.</font></td></tr> </table><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: top"> <td style="width: 24px">&#xa0;</td> <td style="width: 24px"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#x25cf;</font></td> <td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The package of practical expedients applied to all of its leases, including (i) not reassessing whether any expired or existing contracts are or contain leases, (ii) not reassessing the lease classification for any expired or existing leases, and (iii) not reassessing initial direct costs for any existing leases.</font></td></tr> </table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As a result of the above, the adoption of ASC 842 did not have a material effect on the consolidated financial statements. The Company will review for the existence of embedded leases in future agreements.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company has inventoried all leases where the Company is a lessee as of the initial date of application and has examined other contracts with suppliers, vendors, customers and other outside parties to identify whether such contracts contain an embedded lease as defined under the new guidance. The Company&#x2019;s lease population comprises lease for corporate office space and a warehouse that are year-to-year basis with monthly rent ranging from approximately $150 to $3,200 and qualify under the practical expedient of short-term leases. The Company does not have exclusive rights of control to any assets in the customer and vendor contracts reviews and does not have any financing leases as of the date of adoption of ASC 842.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Beginning January 1, 2020, the Company entered into a 12-month lease agreement ending December 31, 2020, with a third party in Russia. The Company is paying rent at a rate of 17,900 Rubles ($227) per month.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Beginning June 1, 2019, the Company entered into a 10-month lease agreement ending March 31, 2020 with a third party in Russia. The Company is paying rent at a rate of 12,000 Rubles ($152) per month.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Additionally, the Company also rents a warehouse. Beginning December 1, 2018, the Company entered into a 6-month warehouse rental agreement for $2,980 per month. The lease was renewed on June 1, 2019 for an additional year ending May 31, 2020, for $3,171 per month.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Total rent expense for the three months ended March 31, 2020 and 2019 was $11,638 and $22,060 respectively.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Equity Incentive Plan</i></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As of September 21, 2018, the Company&#x2019;s board of directors adopted, and stockholders approved the 2018 Equity Incentive Plan (&#x201c;the 2018 Plan&#x201d;). The 2018 Plan has a 10-year term, which terminates on the day prior to the 10<sup>th</sup> anniversary of its adoption by the Board. Under the 2018 Plan, the Company may grant equity-based incentive awards, including options, restricted stock, and other stock-based awards, to any directors, employees, advisers, and consultants that provide services to the Company. The vesting period, term and exercise price will be determined at the time of the grant. An aggregate of up to 3,500,000 of the Company&#x2019;s common stock are reserved for issuance under the 2018 Plan. As of March 31, 2020 the Company has granted 1,800,000 options and has 1,800,000 options outstanding under the 2018 Plan (see Note 8).</p><br/> 150 3200 17900 -227 12000 -152 2980 The lease was renewed on June 1, 2019 for an additional year ending May 31, 2020, for $3,171 per month. 11638 22060 The 2018 Plan has a 10-year term, which terminates on the day prior to the 10th anniversary of its adoption by the Board. 3500000 1800000 1800000 <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>NOTE 10 - RESTATEMENT</b></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">The Company, while undergoing the review of its consolidated financial statements for the six months ended June 30, 2020, commenced an evaluation of its accounting in connection with the Note (as defined in Note 4) for derivative accounting in accordance with ASC 815. Management originally deemed these agreements to be fixed in nature and a derivative would not need be recognized. On August 12, 2020, under the authority of the board of directors, the Company determined that these agreements and underlying warrants should have been recorded as a derivative with changes in the fair value of the derivate to be recorded in the condensed consolidated statement of operations and comprehensive loss (see Note 4). Accordingly, the Company has restated the condensed&#xa0;consolidated interim financial statements and included the required disclosures for the three months ended March 31, 2020.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The following table sets forth the effects of the adjustments on affected items within the Company&#x2019;s previously reported Condensed Consolidated Balance Sheet at March 31, 2020:&#xa0;&#xa0;</p><br/><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td>&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="10" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">March 31, 2020</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td>&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">As&#xa0;Reported</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Adjustment</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">As Restated</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left">Convertible notes payable, net</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">565,781</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">(159,299</td><td style="width: 1%; text-align: left">)</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">406,482</td><td style="width: 1%; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Derivative liabilities</td><td>&#xa0;</td> <td style="text-align: left">$</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">$</td><td style="text-align: right">571,843</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">$</td><td style="text-align: right">571,843</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Current liabilities</td><td>&#xa0;</td> <td style="text-align: left">$</td><td style="text-align: right">1,467,171</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">$</td><td style="text-align: right">412,544</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">$</td><td style="text-align: right">1,879,715</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Total liabilities</td><td>&#xa0;</td> <td style="text-align: left">$</td><td style="text-align: right">1,467,171</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">$</td><td style="text-align: right">412,544</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">$</td><td style="text-align: right">1,879,715</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Accumulated deficit</td><td>&#xa0;</td> <td style="text-align: left">$</td><td style="text-align: right">(4,211,193</td><td style="text-align: left">)</td><td>&#xa0;</td> <td style="text-align: left">$</td><td style="text-align: right">(412,544</td><td style="text-align: left">)</td><td>&#xa0;</td> <td style="text-align: left">$</td><td style="text-align: right">(4,623,737</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Total stockholders&#x2019; deficit</td><td>&#xa0;</td> <td style="text-align: left">$</td><td style="text-align: right">1,419,785</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">$</td><td style="text-align: right">(412,544</td><td style="text-align: left">)</td><td>&#xa0;</td> <td style="text-align: left">$</td><td style="text-align: right">(1,832,329</td><td style="text-align: left">)</td></tr> </table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The following table sets forth the effects of the adjustments on affected items within the Company&#x2019;s previously reported Condensed Consolidated Statement of Operations and Comprehensive Loss for the three months ended March 31, 2020:</p><br/><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td>&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="10" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">March 31, 2020</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td>&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">As&#xa0;Reported</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Adjustment</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">As Restated</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left">Interest expense</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">(88,291</td><td style="width: 1%; text-align: left">)</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">(365,325</td><td style="width: 1%; text-align: left">)</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">(453,616</td><td style="width: 1%; text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Change in fair market value of derivative liabilities</td><td>&#xa0;</td> <td style="text-align: left">$</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">$</td><td style="text-align: right">(47,219</td><td style="text-align: left">)</td><td>&#xa0;</td> <td style="text-align: left">$</td><td style="text-align: right">(47,219</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Net Loss</td><td>&#xa0;</td> <td style="text-align: left">$</td><td style="text-align: right">(539,116</td><td style="text-align: left">)</td><td>&#xa0;</td> <td style="text-align: left">$</td><td style="text-align: right">(412,544</td><td style="text-align: left">)</td><td>&#xa0;</td> <td style="text-align: left">$</td><td style="text-align: right">(951,660</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Total comprehensive loss</td><td>&#xa0;</td> <td style="text-align: left">$</td><td style="text-align: right">(540,169</td><td style="text-align: left">)</td><td>&#xa0;</td> <td style="text-align: left">$</td><td style="text-align: right">(412,544</td><td style="text-align: left">)</td><td>&#xa0;</td> <td style="text-align: left">$</td><td style="text-align: right">(952,713</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Net loss per common share, basic and diluted</td><td>&#xa0;</td> <td style="text-align: left">$</td><td style="text-align: right">(0.03</td><td style="text-align: left">)</td><td>&#xa0;</td> <td style="text-align: left">$</td><td style="text-align: right">(0.02</td><td style="text-align: left">)</td><td>&#xa0;</td> <td style="text-align: left">$</td><td style="text-align: right">(0.05</td><td style="text-align: left">)</td></tr> </table><br/> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td>&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="10" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">March 31, 2020</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td>&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">As&#xa0;Reported</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Adjustment</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">As Restated</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left">Convertible notes payable, net</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">565,781</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">(159,299</td><td style="width: 1%; text-align: left">)</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">406,482</td><td style="width: 1%; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Derivative liabilities</td><td>&#xa0;</td> <td style="text-align: left">$</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">$</td><td style="text-align: right">571,843</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">$</td><td style="text-align: right">571,843</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Current liabilities</td><td>&#xa0;</td> <td style="text-align: left">$</td><td style="text-align: right">1,467,171</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">$</td><td style="text-align: right">412,544</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">$</td><td style="text-align: right">1,879,715</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Total liabilities</td><td>&#xa0;</td> <td style="text-align: left">$</td><td style="text-align: right">1,467,171</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">$</td><td style="text-align: right">412,544</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">$</td><td style="text-align: right">1,879,715</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Accumulated deficit</td><td>&#xa0;</td> <td style="text-align: left">$</td><td style="text-align: right">(4,211,193</td><td style="text-align: left">)</td><td>&#xa0;</td> <td style="text-align: left">$</td><td style="text-align: right">(412,544</td><td style="text-align: left">)</td><td>&#xa0;</td> <td style="text-align: left">$</td><td style="text-align: right">(4,623,737</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Total stockholders&#x2019; deficit</td><td>&#xa0;</td> <td style="text-align: left">$</td><td style="text-align: right">1,419,785</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">$</td><td style="text-align: right">(412,544</td><td style="text-align: left">)</td><td>&#xa0;</td> <td style="text-align: left">$</td><td style="text-align: right">(1,832,329</td><td style="text-align: left">)</td></tr> </table> 565781 -159299 406482 571843 571843 1467171 412544 1879715 1467171 412544 1879715 -4211193 -412544 -4623737 1419785 -412544 -1832329 <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td>&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="10" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">March 31, 2020</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td>&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">As&#xa0;Reported</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Adjustment</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">As Restated</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left">Interest expense</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">(88,291</td><td style="width: 1%; text-align: left">)</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">(365,325</td><td style="width: 1%; text-align: left">)</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">(453,616</td><td style="width: 1%; text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Change in fair market value of derivative liabilities</td><td>&#xa0;</td> <td style="text-align: left">$</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">$</td><td style="text-align: right">(47,219</td><td style="text-align: left">)</td><td>&#xa0;</td> <td style="text-align: left">$</td><td style="text-align: right">(47,219</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Net Loss</td><td>&#xa0;</td> <td style="text-align: left">$</td><td style="text-align: right">(539,116</td><td style="text-align: left">)</td><td>&#xa0;</td> <td style="text-align: left">$</td><td style="text-align: right">(412,544</td><td style="text-align: left">)</td><td>&#xa0;</td> <td style="text-align: left">$</td><td style="text-align: right">(951,660</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Total comprehensive loss</td><td>&#xa0;</td> <td style="text-align: left">$</td><td style="text-align: right">(540,169</td><td style="text-align: left">)</td><td>&#xa0;</td> <td style="text-align: left">$</td><td style="text-align: right">(412,544</td><td style="text-align: left">)</td><td>&#xa0;</td> <td style="text-align: left">$</td><td style="text-align: right">(952,713</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Net loss per common share, basic and diluted</td><td>&#xa0;</td> <td style="text-align: left">$</td><td style="text-align: right">(0.03</td><td style="text-align: left">)</td><td>&#xa0;</td> <td style="text-align: left">$</td><td style="text-align: right">(0.02</td><td style="text-align: left">)</td><td>&#xa0;</td> <td style="text-align: left">$</td><td style="text-align: right">(0.05</td><td style="text-align: left">)</td></tr> </table> 88291 365325 453616 -47219 -47219 -539116 -412544 -951660 -540169 -412544 -952713 -0.03 -0.02 -0.05 <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>NOTE 11 &#x2013; SUBSEQUENT EVENTS</b></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In accordance with ASC 855 &#x201c;Subsequent Events,&#x201d; Company management reviewed all material events through the date this report was issued, and the following subsequent events took place.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>The Effects of COVID-19 </i></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The World Health Organization (WHO) declared the coronavirus outbreak a pandemic on January 30, 2020. Since the outbreak in China in December 2019, COVID-19 has expanded its impact to Europe, where all of our operations reside, as well as our employees, suppliers and customers. While the disruption is currently expected to be temporary, there is considerable uncertainty around the duration of the closings and shelter-in-place orders and the ultimate impact of governmental initiatives. However, the financial impact and duration cannot be reasonably estimated at this time.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i><font style="text-decoration:underline">Convertible Grid Notes</font></i></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On April 21, 2020, the Company issued a Convertible Grid Promissory Note (the &#x201c;Caleca Note&#x201d;) to Thomas J. Caleca (&#x201c;Caleca&#x201d;), an existing stockholder of the Company, pursuant to which Caleca agreed to advance to the Company the aggregate principal amount of $125,000 (the &#x201c;Caleca Aggregate Advance&#x201d;). The Company also issued to Caleca a common stock purchase warrant (the &#x201c;Caleca Warrant&#x201d;), granting Caleca the right to purchase up to 750,000 shares of the Company&#x2019;s common stock at a per share exercise price of $0.80 (subject to adjustment as set forth in the Caleca Warrant).&#xa0;</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Also on April 21, 2020, the Company issued a Convertible Grid Promissory Note (the &#x201c;Brown Note&#x201d;, and together with the Caleca Note, the &#x201c;Grid Notes&#x201d;) to Andrew Brown (&#x201c;Brown&#x201d;, and together with Caleca, the &#x201c;Grid Investors&#x201d;), an existing stockholder of the Company, pursuant to which Brown agreed to advance to the Company the aggregate principal amount of $125,000 (the &#x201c;Brown Aggregate Advance&#x201d;, and together with the Caleca Aggregate Advance, the &#x201c;Aggregate Advance&#x201d;). The Company also issued to Brown a common stock purchase warrant (the &#x201c;Brown Warrant&#x201d;, and together with the Caleca Warrant, the &#x201c;2020 Warrants&#x201d;), granting Brown the right to purchase up to 750,000 shares of the Company&#x2019;s common stock at a per share exercise price of $0.80 (subject to adjustment as set forth in the Brown Warrant). The 2020 Warrants are exercisable at any time commencing on the eighteen-month anniversary of the issuance of the 2020 Warrants (as may be accelerated pursuant to the terms of the 2020 Warrants) and expiring on the five-year anniversary of the issuance of the 2020 Warrants.&#xa0;</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On April 22, 2020, the Grid Investors each made their first cash advance of $25,000 pursuant to the terms of the Grid Notes, for an aggregate cash advance to the Company of $50,000 (the &#x201c;First Advance&#x201d;). The Grid Investors shall make additional cash advances to the Company pursuant to the terms of their Grid Notes.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Grid Notes bear interest on the unpaid balances at a fixed simple rate of twelve percent (12%) per annum (subject to a rate increase if the Company commits an Event of Default (as defined in the Grid Notes)), computed based on a 360-day year of twelve 30-day months, commencing on the date of the respective advance and payable quarterly. The principal amount of the Aggregate Advance, or so much thereof as has been advanced to the Company by the Grid Investors from time to time pursuant to the Grid Notes, will be payable on April 21, 2021 (the &#x201c;Maturity Date&#x201d;), unless sooner converted into shares of the Company&#x2019;s common stock pursuant to the terms of the Grid Notes.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The unpaid outstanding principal amount and accrued and unpaid interest under the Grid Notes shall be convertible at any time prior to the Maturity Date at the election of the Grid Investors into such number of shares of the Company&#x2019;s common stock obtained by dividing the amount so converted by $1.00 (the &#x201c;Conversion Price&#x201d;). At the Maturity Date, all of the remaining unpaid outstanding principal amount and accrued and unpaid interest (the &#x201c;Outstanding Balance&#x201d;) under the Grid Notes shall automatically convert into such number of shares of the Company&#x2019;s common stock obtained by dividing the Outstanding Balance by the Conversion Price. The Grid Notes may not be prepaid by the Company in whole or in part without the prior written consent of the respective Grid Investor.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Grid Notes contain customary events of default, which, if uncured, entitle the Grid Investors to accelerate the due date of the unpaid principal amount of, and all accrued and unpaid interest on, their Grid Notes.</p><br/> an existing stockholder of the Company, pursuant to which Caleca agreed to advance to the Company the aggregate principal amount of $125,000 (the &#x201c;Caleca Aggregate Advance&#x201d;). The Company also issued to Caleca a common stock purchase warrant (the &#x201c;Caleca Warrant&#x201d;), granting Caleca the right to purchase up to 750,000 shares of the Company&#x2019;s common stock at a per share exercise price of $0.80 (subject to adjustment as set forth in the Caleca Warrant). 125000 750000 0.80 25000 50000 0.12 The unpaid outstanding principal amount and accrued and unpaid interest under the Grid Notes shall be convertible at any time prior to the Maturity Date at the election of the Grid Investors into such number of shares of the Company&#x2019;s common stock obtained by dividing the amount so converted by $1.00 (the &#x201c;Conversion Price&#x201d;). EX-101.SCH 7 brsf-20200331.xsd XBRL SCHEMA FILE 001 - Statement - Condensed Consolidated Balance Sheets link:presentationLink link:definitionLink link:calculationLink 002 - Statement - Condensed Consolidated Balance Sheets (Parentheticals) link:presentationLink link:definitionLink link:calculationLink 003 - Statement - Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) link:presentationLink link:definitionLink link:calculationLink 004 - Statement - Consolidated Statements of Stockholders’ Deficit link:presentationLink link:definitionLink link:calculationLink 005 - Statement - Condensed Consolidated Statements of Cash Flows (Unaudited) link:presentationLink link:definitionLink link:calculationLink 006 - Disclosure - Organization and Nature of Operations link:presentationLink link:definitionLink link:calculationLink 007 - Disclosure - Summary of Significant Accounting Policies link:presentationLink link:definitionLink link:calculationLink 008 - Disclosure - Going Concern link:presentationLink link:definitionLink link:calculationLink 009 - Disclosure - Convertible Notes Payable link:presentationLink link:definitionLink link:calculationLink 010 - Disclosure - Promissory Notes link:presentationLink link:definitionLink link:calculationLink 011 - Disclosure - Other Liabilities link:presentationLink link:definitionLink link:calculationLink 012 - Disclosure - Related Party Transactions link:presentationLink link:definitionLink link:calculationLink 013 - Disclosure - Stockholders' Deficit link:presentationLink link:definitionLink link:calculationLink 014 - Disclosure - Commitments and Contingencies link:presentationLink link:definitionLink link:calculationLink 015 - Disclosure - Restatement link:presentationLink link:definitionLink link:calculationLink 016 - Disclosure - Subsequent Events link:presentationLink link:definitionLink link:calculationLink 017 - Disclosure - Accounting Policies, by Policy (Policies) link:presentationLink link:definitionLink link:calculationLink 018 - Disclosure - Summary of Significant Accounting Policies (Tables) link:presentationLink link:definitionLink link:calculationLink 019 - Disclosure - Convertible Notes Payable (Tables) link:presentationLink link:definitionLink link:calculationLink 020 - Disclosure - Other Liabilities (Tables) link:presentationLink link:definitionLink link:calculationLink 021 - Disclosure - Stockholders' Deficit (Tables) link:presentationLink link:definitionLink link:calculationLink 022 - Disclosure - Restatement (Tables) link:presentationLink link:definitionLink link:calculationLink 023 - Disclosure - Organization and Nature of Operations (Details) link:presentationLink link:definitionLink link:calculationLink 024 - Disclosure - Summary of Significant Accounting Policies (Details) link:presentationLink link:definitionLink link:calculationLink 025 - Disclosure - Summary of Significant Accounting Policies (Details) - Schedule of financial liabilities measured at fair value link:presentationLink link:definitionLink link:calculationLink 026 - Disclosure - Going Concern (Details) link:presentationLink link:definitionLink link:calculationLink 027 - Disclosure - Convertible Notes Payable (Details) link:presentationLink link:definitionLink link:calculationLink 028 - Disclosure - Convertible Notes Payable (Details) - Schedule of change in fair value including net transfers link:presentationLink link:definitionLink link:calculationLink 029 - Disclosure - Convertible Notes Payable (Details) - Schedule of fair value of conversion features and warrant liabilities link:presentationLink link:definitionLink link:calculationLink 030 - Disclosure - Promissory Notes (Details) link:presentationLink link:definitionLink link:calculationLink 031 - Disclosure - Other Liabilities (Details) link:presentationLink link:definitionLink link:calculationLink 032 - Disclosure - Other Liabilities (Details) - Schedule of future minimum commitments link:presentationLink link:definitionLink link:calculationLink 033 - Disclosure - Related Party Transactions (Details) link:presentationLink link:definitionLink link:calculationLink 034 - Disclosure - Stockholders' Deficit (Details) link:presentationLink link:definitionLink link:calculationLink 035 - Disclosure - Stockholders' Deficit (Details) - Schedule of warrant activity link:presentationLink link:definitionLink link:calculationLink 036 - Disclosure - Stockholders' Deficit (Details) - Schedule of option activity link:presentationLink link:definitionLink link:calculationLink 037 - Disclosure - Commitments and Contingencies (Details) link:presentationLink link:definitionLink link:calculationLink 038 - Disclosure - Restatement (Details) - Schedule of previously reported condensed consolidated balance sheet link:presentationLink link:definitionLink link:calculationLink 039 - Disclosure - Restatement (Details) - Schedule of previously condensed consolidated statement of operations and comprehensive loss link:presentationLink link:definitionLink link:calculationLink 040 - Disclosure - Subsequent Events (Details) link:presentationLink link:definitionLink link:calculationLink 000 - Document - Document And Entity Information link:presentationLink link:definitionLink link:calculationLink EX-101.CAL 8 brsf-20200331_cal.xml XBRL CALCULATION FILE EX-101.DEF 9 brsf-20200331_def.xml XBRL DEFINITION FILE EX-101.LAB 10 brsf-20200331_lab.xml XBRL LABEL FILE EX-101.PRE 11 brsf-20200331_pre.xml XBRL PRESENTATION FILE XML 12 R1.htm IDEA: XBRL DOCUMENT v3.20.2
Document And Entity Information - shares
3 Months Ended
Mar. 31, 2020
May 18, 2020
Document Information Line Items    
Entity Registrant Name BRAIN SCIENTIFIC INC.  
Document Type 10-Q/A  
Current Fiscal Year End Date --12-31  
Entity Common Stock, Shares Outstanding   19,383,794
Amendment Flag true  
Amendment Description As disclosed in Item 4.02 of Brain Scientific Inc.’s (the Company) current report on Form 8-K filed with the U.S Securities and Exchange Commission (“SEC”) on August 18, 2020, on August 12, 2020 the Company, under the authority of its board of directors, following discussion with Sadler, Gibb & Associates, LLC, the Company’s independent registered public accounting firm, concluded that the Company’s previously filed financial statements for the three months ended March 31, 2020, can no longer be relied upon.The Company is filing this Amendment No. 1 (“Form 10-Q/A”) to the Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2020, which was filed with the SEC on May 19, 2020 (the “Original Filing”), to reflect restatements of the Consolidated Balance Sheet at March 31, 2020, the Consolidated Statement of Operations, Consolidated Statement of Changes in Shareholders’ Equity (Deficit), and Consolidated Statement of Cash Flows for the three months ended March 31, 2020, and the related notes thereto.The following sections in the Original Filing are amended and restated in this Form 10-Q/A, solely as a result of, and to reflect, the restatement:Part I - Item 1 - Financial StatementsPart I - Item 2 - Management’s Discussion and Analysis of Financial Condition and Results of OperationsIn addition, pursuant to the rules of the SEC, Part II, Item 6 of the Original Filing has been amended to include the currently-dated certifications from our principal executive officer and principal financial officer, as required by Sections 302 and 906 of the Sarbanes-Oxley Act of 2002. The certifications of the principal executive officer and principal financial officer are included in this Form 10-Q/A as Exhibits 31.1, 31.2, 32.1 and 32.2.For the convenience of the reader, this Form 10-Q/A sets forth the information in the Original Filing in its entirety, as such information is modified and superseded where necessary to reflect the restatement. This Form 10-Q/A should be read in conjunction with our filings with the SEC subsequent to the date of the Original Filing, in each case as those filings may have been, or with respect to the Original Filing will be, superseded or amended.Except as described above, no other changes have been made to the Original Filing. This Form 10-Q/A speaks as of the date of the Original Filing and does not reflect events that may have occurred after the date of the Original Filing, or modify or update any disclosures that may have been affected by subsequent events.  
Entity Central Index Key 0001662382  
Entity Current Reporting Status Yes  
Entity Filer Category Non-accelerated Filer  
Document Period End Date Mar. 31, 2020  
Document Fiscal Year Focus 2020  
Document Fiscal Period Focus Q1  
Entity Small Business true  
Entity Emerging Growth Company true  
Entity Shell Company false  
Entity Ex Transition Period true  
Entity File Number 333-209325  
Entity Incorporation, State or Country Code NV  
Entity Interactive Data Current Yes  
XML 13 R2.htm IDEA: XBRL DOCUMENT v3.20.2
Condensed Consolidated Balance Sheets - USD ($)
Mar. 31, 2020
Dec. 31, 2019
CURRENT ASSETS:    
Cash $ 27,947 $ 261,436
Accounts receivable 6,706 5,555
Inventory 371
Prepaid expenses and other current assets 10,329 21,637
Prepaid expenses and other current assets - related party 700 700
TOTAL CURRENT ASSETS 46,053 289,328
Property and equipment, net 1,333 1,674
TOTAL ASSETS 47,386 291,002
CURRENT LIABILITIES:    
Accounts payable and accrued expenses 495,091 298,578
Accounts payable and accrued expenses - related party 8,737 9,263
Notes payable 70,000 50,000
Convertible notes payable, net 406,482 499,232
Derivative liabilities 571,843  
Finance lease - short term 4,595 6,377
Loans payable - related party 322,967 323,084
TOTAL CURRENT LIABILITIES: 1,879,715 1,186,534
TOTAL LIABILITIES 1,879,715 1,186,534
Commitments and contingencies
STOCKHOLDERS’ DEFICIT    
Preferred stock, $0.001 par value; 10,000,000 shares authorized, 0 shares issued and outstanding as of March 31, 2020 and December 31, 2019, respectively
Common stock, $0.001 par value; 200,000,000 shares authorized, 19,383,794 and 19,380,460 shares issued and outstanding as of March 31, 2020 and December 31, 2019, respectively 19,384 19,381
Additional paid in capital 2,772,711 2,756,798
Accumulated deficit (4,623,737) (3,672,077)
Accumulated other comprehensive income (687) 366
TOTAL STOCKHOLDERS’ DEFICIT (1,832,329) (895,532)
TOTAL LIABILITIES AND STOCKHOLDERS’ DEFICIT $ 47,386 $ 291,002
XML 14 R3.htm IDEA: XBRL DOCUMENT v3.20.2
Condensed Consolidated Balance Sheets (Parentheticals) - $ / shares
Mar. 31, 2020
Dec. 31, 2019
Statement of Financial Position [Abstract]    
Preferred stock, par value (in Dollars per share) $ 0.001 $ 0.001
Preferred stock, shares authorized 10,000,000 10,000,000
Preferred stock, shares issued 0 0
Preferred stock, shares outstanding 0 0
Common stock, par value (in Dollars per share) $ 0.001 $ 0.001
Common stock, shares authorized 200,000,000 200,000,000
Common stock, shares issued 19,383,794 19,380,460
Common stock, shares outstanding 19,383,794 19,380,460
XML 15 R4.htm IDEA: XBRL DOCUMENT v3.20.2
Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Income Statement [Abstract]    
REVENUE $ 133,845 $ 2,250
COST OF GOODS SOLD 104,982
GROSS PROFIT 28,863 2,250
SELLING, GENERAL AND ADMINISTRATIVE    
Research and development 96,390 22,290
Professional fees 123,608 111,073
Sales and marketing expenses 40,584 47,792
Occupancy expenses 11,638 22,060
General and administrative expenses 208,635 201,241
TOTAL SELLING, GENERAL AND ADMINISTRATIVE 480,855 404,456
LOSS FROM OPERATIONS (451,992) (402,206)
OTHER INCOME (EXPENSE):    
Interest expense (453,616) (8,053)
Other income 1,290
Change in fair market value of derivative liabilities (47,219)
Foreign currency transaction loss (123)
TOTAL OTHER EXPENSE (499,668) (8,053)
LOSS BEFORE INCOME TAXES (951,660) (410,259)
PROVISION FOR INCOME TAXES
NET LOSS (951,660) (410,259)
OTHER COMPREHENSIVE LOSS    
Foreign currency translation adjustment (1,053)
TOTAL COMPREHENSIVE LOSS $ (952,713) $ (410,259)
NET LOSS PER COMMON SHARE    
Basic and diluted (in Dollars per share) $ (0.05) $ (0.02)
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING    
Basic and diluted (in Shares) 19,380,460 19,205,624
XML 16 R5.htm IDEA: XBRL DOCUMENT v3.20.2
Consolidated Statements of Stockholders’ Deficit - USD ($)
Common stock
Additional Paid-in Capital
Accumulated Deficit
Accumulated Other Comprehensive Income
Total
Balance at Dec. 31, 2018 $ 19,206 $ 2,595,034 $ (2,668,212) $ (53,972)
Balance (in Shares) at Dec. 31, 2018 19,205,624        
Balance at Mar. 31, 2019 $ 19,219 2,599,916 (3,078,471) (459,336)
Balance (in Shares) at Mar. 31, 2019 19,218,958        
Fair value of stock options vested 4,334 4,334
Issuance of common stock for services $ 13 548 561
Issuance of common stock for services (in Shares) 13,334        
Net loss (410,259)   (410,259)
Balance at Dec. 31, 2019 $ 19,381 2,756,798 (3,672,077) 366 (895,532)
Balance (in Shares) at Dec. 31, 2019 19,380,460        
Balance at Mar. 31, 2020 $ 19,384 2,772,711 (4,623,737) (687) (1,832,329)
Balance (in Shares) at Mar. 31, 2020 19,383,794        
Fair value of stock options vested 5,914 5,914
Issuance of common stock for services $ 3 9,999 10,002
Issuance of common stock for services (in Shares) 3,334        
Foreign currency translation adjustment $ (1,053) (1,053)
Net loss $ (951,660)   $ (951,660)
XML 17 R6.htm IDEA: XBRL DOCUMENT v3.20.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (951,660) $ (410,259)
Change in net loss to net cash used in operating activities:    
Depreciation and amortization expense 341 299
Amortization of debt discount and non-cash interest expense 431,874 3,117
Change in fair value of derivative liabilities 47,219
Fair value of stock options vested 5,914 4,334
Common stock issued for services 10,002 561
Changes in operating assets and liabilities:    
Accounts receivable (1,151)
Inventory (371)
Other liabilities (1,782) (1,411)
Prepaid expenses and other current assets 11,308 (5,707)
Accounts payable and accrued expenses 196,513 17,163
Accounts payable - related party (526) (31,900)
NET CASH USED IN OPERATING ACTIVITIES (252,319) (423,803)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of property and equipment (1,005)
NET CASH USED IN INVESTING ACTIVITIES (1,005)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from convertible notes payable 230,000
Proceeds from note payable 20,000
Proceeds from related party loans 75,000
NET CASH PROVIDED BY FINANCING ACTIVITIES 20,000 305,000
Effect of exchange rate changes on cash (1,170)
NET CHANGE IN CASH (233,489) (119,808)
CASH AT BEGINNING OF THE PERIOD 261,436 163,563
CASH AT END OF THE PERIOD 27,947 43,755
Supplemental Disclosure of Cash Flow Information    
Cash paid for interest
Cash paid for taxes
Supplemental Disclosure of Non-Cash Investing and Financing Activities    
Financing fees payable to a related party related to the issuance of convertible debentures 18,400
Debt discount and derivative liability associated with convertible notes payable $ 176,274
XML 18 R7.htm IDEA: XBRL DOCUMENT v3.20.2
Organization and Nature of Operations
3 Months Ended
Mar. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
ORGANIZATION AND NATURE OF OPERATIONS

NOTE 1 – ORGANIZATION AND NATURE OF OPERATIONS


Brain Scientific Inc. (the “Company”), was incorporated under the laws of the state of Nevada on November 18, 2013 under the name All Soft Gels Inc. The Company on September 21, 2018 acquired MemoryMD, Inc. (“MemoryMD”), a privately held Delaware corporation formed in February 2015. Upon completion of the acquisition, MemoryMD is treated as the surviving entity and accounting acquirer although the Company was the legal acquirer. Accordingly, the Company’s historical financial statements are those of MemoryMD, the surviving entity and accounting acquirer. MemoryMD is a cloud computing, data analytics and medical device technology company in the NeuroTech and brain monitoring industries seeking to commercialize its EEG devices and caps. The Company is headquartered in New York, New York.


Reverse Merger and Corporate Restructure


On September 21, 2018, the Company entered into a merger agreement (the “Merger Agreement”) with MemoryMD and AFGG Acquisition Corp. to acquire MemoryMD (the “Acquisition”). The transactions contemplated by the Merger Agreement were consummated on September 21, 2018 and, pursuant to the terms of the Merger Agreement, all outstanding shares of MemoryMD were exchanged for shares of the Company’s common stock. Accordingly, the Company acquired 100% of MemoryMD in exchange for the issuance of shares of the Company’s common stock and MemoryMD became the Company’s wholly owned subsidiary. The Company issued an additional 4,083,252 shares of its common stock upon the automatic conversion at the closing of an aggregate of $1,507,000 principal amount plus accrued interest of outstanding convertible promissory notes issued by MemoryMD, and it further issued an additional 1,604,378 shares of its common stock upon the automatic conversion immediately subsequent to the closing of an aggregate of $640,000 principal amount plus accrued interest of outstanding convertible promissory notes issued by MemoryMD. Furthermore, as of the closing, Mr. Amer Samad, the sole director and executive officer until the consummation of the Acquisition, committed to tender for cancellation 6,495,000 shares of the Company’s common stock as part of the conditions to closing, of which 6,375,000 have been cancelled at December 31, 2018 and 120,000 are expected to be cancelled as soon as practicable. Total shares issued as a result of the Acquisition was 13,421,752.


The Acquisition has been accounted for as a reverse recapitalization of Brain Scientific by MemoryMD, but in substance as a capital transaction, rather than a business combination since Brain Scientific had nominal or no operations and assets prior to and as of the closing of the Acquisition. The transaction is deemed a reverse recapitalization and the accounting is similar to that resulting from a reverse acquisition, except that no goodwill or other intangible assets should be recorded. For accounting purposes, MemoryMD is treated as the surviving entity and accounting acquirer although Brain Scientific was the legal acquirer. Accordingly, the Company’s historical financial statements are those of MemoryMD.


All references to common stock, share and per share amounts have been retroactively restated to reflect the reverse recapitalization as if the transaction had taken place as of the beginning of the earliest period presented.


Assignment and Assumption Agreement


As of immediately prior to the closing of the Acquisition, the Company entered into an Assignment and Assumption Agreement with Chromium 24 LLC, pursuant to which Chromium 24 LLC assumed all of the Company’s remaining assets and liabilities through the closing of the Acquisition. Accordingly, as of the closing of the Acquisition, Brain Scientific had no assets or liabilities other than the shares of MemoryMD acquired in the Acquisition.


Name Change and Increase in Authorized Shares


On September 18, 2018, the Company filed an amendment to its certificate of incorporation with the Nevada Secretary of State to change its name to Brain Scientific Inc. On September 18, 2018, FINRA approved of the name change as well as a ticker symbol change, which was effective as of September 19, 2018. In addition, the Company increased its authorized shares of common stock from 50,000,000 to 200,000,000 and created and authorized 10,000,000 shares of undesignated preferred stock.


Unaudited Interim Financial Information


The Company has prepared the accompanying condensed consolidated financial statements pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”) for interim financial reporting. These consolidated financial statements are unaudited and, in the Company’s opinion, include all adjustments, consisting of normal recurring adjustments and accruals necessary for a fair presentation of its balance sheets, operating results, and cash flows for the periods presented. Operating results for the periods presented are not necessarily indicative of the results that may be expected for 2020. Certain information and footnote disclosures normally included in consolidated financial statements prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) have been omitted in accordance with the rules and regulations of the SEC. These consolidated financial statements should be read in conjunction with the audited financial statements and accompanying notes.


XML 19 R8.htm IDEA: XBRL DOCUMENT v3.20.2
Summary of Significant Accounting Policies
3 Months Ended
Mar. 31, 2020
Accounting Policies [Abstract]  
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES


Basis of Presentation


The accompanying consolidated financial statements have been prepared in accordance with GAAP.


Principles of Consolidation


The Company evaluates the need to consolidate affiliates based on standards set forth in ASC 810 Consolidation (“ASC 810").


The consolidated financial statements include the accounts of the Company and its subsidiaries, MemoryMD and MemoryMD - Russia. The operations of the newly formed 100% wholly owned subsidiary, MemoryMD – Russia, are included beginning April 1, 2019. All significant consolidated transactions and balances have been eliminated in consolidation.


Use of Estimates


The preparation of financial statements in accordance with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Significant estimates include the useful life of property and equipment and assumptions used in the valuation of options and warrants.


Cash and Cash Equivalents


The Company considers all highly liquid temporary cash investments with an original maturity of three months or less to be cash equivalents. At March 31, 2020 and December 31, 2019, the Company had no cash equivalents.


The Company’s cash is held with financial institutions, and the account balances may, at times, exceed the Federal Deposit Insurance Corporation (FDIC) insurance limit. Accounts are insured by the FDIC up to $250,000 per financial institution. The Company has not experienced any losses in such accounts with these financial institutions. As of March 31, 2020 and December 31, 2019, the Company had $0 and $11,436, respectively, in excess over the FDIC insurance limit.


Inventory


Inventory consists of finished goods that are valued at lower of cost or market using the weighted average method.  As of March 31, 2020 and December 31, 2019, the Company had inventory totaling $371 and $0, respectively.


Property, Equipment and Depreciation


Property and equipment are recorded at cost, less depreciation. Depreciation is computed using the straight-line method over the estimated useful lives of the assets. Expenditures for repair and maintenance are charged to operations as incurred. Property and equipment consisted of computer equipment, with an estimated useful life of three years. Depreciation expense was $341 and $299 for the three months ended March 31, 2020 and 2019, respectively.


Convertible Notes Payable


The Company has issued convertible notes, which contain variable conversion features, whereby the outstanding principal and accrued interest automatically convert into common shares at a fixed price which may be at a discount to the common stock at the time of conversion. For certain notes, the conversion features of these notes are contingent upon future events, whereby, the holder agreed not to convert until the contingent future event has occurred.


Derivative Instruments


The Company evaluates its convertible notes and warrants to determine if those contracts or embedded components of those contracts qualify as derivatives to be separately accounted for in accordance with ASC 815. The result of this accounting treatment is that the fair value of the embedded derivative is recorded as a liability and marked-to-market each balance sheet date. In the event that the fair value is recorded as a liability, the change in fair value is recorded in the statements of operations as other income or expense. Upon conversion or exercise of a derivative instrument, the instrument is marked to fair value at the conversion date and then that fair value is reclassified to equity.


The Company utilizes the Monte Carlo Method that values the liability of the debt conversion feature derivative financial instruments and derivative warrants based on a probability of a down round event. The reason the Company selected the lattice binomial model is that in many cases there may be multiple embedded features or the features of the bifurcated derivatives may be so complex that a Black-Scholes valuation does not consider all of the terms of the instrument. Therefore, the fair value may not be appropriately captured by simple models. 


From time to time, certain of the Company’s embedded conversion features on debt and outstanding warrants have been treated as derivative liabilities for accounting purposes under ASC 815 due to insufficient authorized shares to fully settle conversion features of the instruments if exercised. In this case, the Company utilized the latest inception date sequencing method to reclassify outstanding instruments as derivative instruments. These contracts were recognized at fair value with changes in fair value recognized in earnings until such time as the conditions giving rise to such derivative liability classification were settled.


Revenue Recognition


On January 1, 2018, the Company adopted ASC Topic 606 Revenue from Contracts with Customers. This guidance requires an entity to recognize revenue by applying the following steps:  (1) identify the contract with a customer; (2) identify the performance obligations in the contract; (3) determine the transaction price; (4) allocate the transaction price to each performance obligation in the contract; and (5) recognize revenue when each performance obligation is satisfied. Once the steps are met, revenue is recognized, generally upon receiving a letter of acceptance from the customer. There has been no material effect on the Company’s financial statements as a result of adopting Topic 606.


The Company recognizes revenue from the sale of NeuroCaps, Universal as well as revenue from the sale of goods purchased through manufacturers of medical devices. All revenue for the three months ended March 31, 2020 is from the sale of medical devices purchased from Neurotech, a related party.


Research and Development Costs


The Company expenses all research and development costs as they are incurred. Research and development includes expenditures in connection with in-house research and development salaries and staff costs, application and filing for regulatory approval of proposed products, regulatory and scientific consulting fees, as well as contract research, data collection, and monitoring, related to the research and development of the cloud infrastructure, data imaging, and proprietary products and technology. Research and development costs recognized in the statement of operations for the three months ended March 31, 2020 and 2019 were $96,390 and $22,290, respectively.


Sales and Marketing


Advertising and marketing costs are expensed as incurred. Advertising and marketing costs recognized in the statement of operations for the three months ended March 31, 2020 and 2019 were $40,584 and $47,792, respectively.


Stock-based Compensation


The Company measures and recognizes compensation expense for all stock-based payments at fair value over the requisite service period. The Company uses the Black-Scholes option pricing model to determine the weighted average fair value of options and warrants. Equity-based compensation expense is recorded in administrative expenses based on the classification of the employee or vendor. The determination of fair value of stock-based payment awards on the date of grant using an option-pricing model is affected by our stock price as well as by assumptions regarding a number of subjective variables. These variables include, but are not limited to, the expected stock price volatility over the term of the awards, and actual and projected employee stock option exercise behaviors.


Basic and Diluted Net Loss Per Common Share


Basic net loss per share is computed by dividing the net loss by the weighted average number of common shares outstanding during the period. Diluted net loss per common share is computed by dividing the net loss by the weighted average number of common shares outstanding for the period and, if dilutive, potential common shares outstanding during the period. Potentially dilutive securities consist of the incremental common shares issuable upon exercise of common stock equivalents such as stock options, warrants and convertible debt instruments. Potentially dilutive securities are excluded from the computation if their effect is anti-dilutive. As a result, the basic and diluted per share amounts for all periods presented are identical. In the three months ended March 31, 2020 2,302,250 anti-dilutive securities were excluded from the computation.


Fair Value of Financial Instruments


The Company’s financial instruments are measured and recorded at fair value based on inputs and assumptions that market participants would use in pricing an asset or a liability. Fair value is defined as the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. When determining fair value, management considers the principal or most advantageous market in which the Company would transact, and also considers assumptions that market participants would use when pricing the asset or liability, such as inherent risk, transfer restrictions, and risk of non-performance.


Fair value is determined for assets and liabilities using a three-tiered value hierarchy into which these assets and liabilities are grouped based upon significant inputs as follows:


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

  Level 2 - Observable inputs, other than Level 1 prices, such as quoted prices in active markets for similar assets and liabilities, quoted prices for identical or similar assets and liabilities in markets that are not active, or other inputs that are observable or can be corroborated by observable market data.

  Level 3 - Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. This includes certain pricing models, discounted cash flow methodologies and similar techniques that use significant unobservable inputs. When a determination is made to classify a financial instrument within Level 3, the determination is based upon the lack of significance of the observable parameters to the overall fair value measurement. However, the fair value determination for Level 3 financial instruments may consider some observable market inputs.

The lowest level of significant input determines the placement of the entire fair value measurement in the hierarchy. The carrying values of cash, prepaid expenses and other current assets, convertible notes, accounts payable, loans payable and due to others approximate fair value due to the short-term nature of these items.


The Company did not have any other Level 1 or Level 2 assets or liabilities as of March 31, 2020 and the Company did not have any other Level 1, Level 2 or Level 3 assets or liabilities as of December 31, 2019.


Fair Value of Financial Assets and Liabilities Measured on a Recurring Basis


Financial liabilities measured at fair value on a recurring basis are summarized below and disclosed on the consolidated balance sheet as of March 31, 2020.


Liabilities  Amounts at Fair Value   Level 1   Level 2   Level 3 
Derivative liability – conversion feature  $308,641   $         -   $-   $308,641 
Derivative liability - warrants   263,202    -    -    263,202 
Total  $571,843   $-   $-   $571,843 

Income Taxes


The Company accounts for income taxes using the asset-and-liability method in accordance with ASC Topic 740, “Income Taxes”. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on the deferred tax assets and liabilities of a change in tax rate is recognized in the period that includes the enactment date. A valuation allowance is recorded if it is more-likely-than-not that some portion or all of the deferred tax assets will not be realized in future periods.


The Company follows the guidance in ASC Topic 740-10 in assessing uncertain tax positions. The standard applies to all tax positions and clarifies the recognition of tax benefits in the financial statements by providing for a two-step approach of recognition and measurement. The first step involves assessing whether the tax position is more-likely-than-not to be sustained upon examination based upon its technical merits. The second step involves measurement of the amount to be recognized. Tax positions that meet the more-likely-than-not threshold are measured at the largest amount of tax benefit that is greater than 50% likely of being realized upon ultimate finalization with the taxing authority. The Company recognizes the impact of an uncertain income tax position in the financial statements if it believes that the position is more likely than not to be sustained by the relevant taxing authority. The Company will recognize interest and penalties related to tax positions in income tax expense. As of March 31, 2020 and December 31, 2019, the Company had no unrecognized uncertain income tax positions.


On December 22, 2017, the passage of legislation commonly referred to as the Tax Cuts and Jobs Act (“TCJA”) was enacted and significantly revised the U.S. income tax law. The TCJA includes changes, which reduce the corporate income tax rate from 34% to 21% for years beginning after December 31, 2017. On December 22, 2017, Staff Accounting Bulletin No. 118 (“SAB 118") was issued and allows a company to recognize provisional amounts when it does not have the necessary information available, prepared or analyzed, including computations, in reasonable detail to complete its accounting for the change in tax law. SAB 118 provides for a measurement of up to one year from the date of enactment.


Recent Issued Accounting Pronouncements


From time to time, new accounting pronouncements are issued by the Financial Accounting Standard Board (“FASB”) or other standard setting bodies that the Company adopts as of the specified effective date. Unless otherwise discussed, the Company does not believe that the impact of recently issued standards that are not yet effective will have a material impact on the Company’s financial position or results of operations upon adoption.


In June 2016, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update (“ASU”) 2016-13, “Measurement of Credit Losses on Financial Instruments,” which requires measurement and recognition of expected credit losses at the point a loss is probable to occur, rather than expected to occur, which will generally result in earlier recognition of allowances for credit losses. The new guidance is effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. The Company adopted ASU 2016-13 in the first quarter of 2020 and the adoption did not have a material impact on its condensed consolidated financial statements.


XML 20 R9.htm IDEA: XBRL DOCUMENT v3.20.2
Going Concern
3 Months Ended
Mar. 31, 2020
Going Concern [Abstract]  
GOING CONCERN

NOTE 3 – GOING CONCERN


The accompanying financial statements have been prepared in conformity with U.S. GAAP, which contemplate continuation of the Company as a going concern for a period of one year from the issuance of these financial statements. For the three months ended March 31, 2020, the Company had $133,845 in revenues, a net loss of $951,660 and had net cash used in operations of $252,319. Additionally, as of March 31, 2020, the Company had working capital deficit, stockholders’ deficit and accumulated deficit of $1,833,662, $1,832,329 and $4,623,737 respectively. It is management’s opinion that these conditions raise substantial doubt about the Company’s ability to continue as a going concern for a period of twelve months from the date of the issuance of these financial statements.


The financial statements do not include any adjustments to reflect the possible future effect on the recoverability and classification of assets or the amounts and classifications of liabilities that may result from the outcome of this uncertainty.


Successful completion of the Company’s development program and, ultimately, the attainment of profitable operations are dependent upon future events, including obtaining adequate financing to fulfill its development activities, acceptance of the Company’s patent applications and ultimately achieving a level of sales adequate to support the Company’s cost structure. However, there can be no assurances that the Company will be able to secure additional equity investments or achieve an adequate sales level.


XML 21 R10.htm IDEA: XBRL DOCUMENT v3.20.2
Convertible Notes Payable
3 Months Ended
Mar. 31, 2020
Debt Disclosure [Abstract]  
CONVERTIBLE NOTES PAYABLE

NOTE 4 – CONVERTIBLE NOTES PAYABLE


In January 2019, the Company commenced an offering of up to $500,000 pursuant to which the Company will issue convertible notes to investors. On January 18, 2019, February 5, 2019 and July 23, 2019, the Company issued three such convertible notes payable to three investors for $100,000, $130,000 and $150,000, respectively. The notes bear interest at a fixed rate of 10% per annum, computed based on a 360-day year and mature on the earlier of one year from the date of issuance or the consummation of an equity or equity-linked round of financing of the Company in excess of $1,000,000 (“Qualified Financing”) or other event pursuant to which conversion shares are to be issued pursuant to the terms of the note. On February 28, 2020, the Company and the holder of the January 18, 2019 convertible note agreed to extend the maturity date of the January 18, 2019 convertible note to January 18, 2021. Also on February 28, 2020, the Company and the holder of the February 5, 2019 convertible note agreed to extend the maturity date of the February 5, 2019 convertible note to February 5, 2021.


The notes are convertible into common stock of the Company following events on the following terms: with no action on the part of the note holder upon the consummation of a Qualified Financing, the debt will be converted to new round stock based on the product of the outstanding principal and accrued interest multiplied by 1.35, then divided by the accrual per share price of the new round common stock. If a change of control occurs or if the Company completes a firmly underwritten public offering of its common stock prior to the Qualified Financing the notes would, at the election of the holders of a majority of the outstanding principal of the notes, be either payable on demand as of the closing of such change of control or Initial Public Offering (‘IPO”) or convertible into shares of common stock immediately prior to such change of control transaction or IPO transaction at a price per share equal to the lesser of the per share value of the common stock as determined by the Company’s Board of Directors or the per share consideration to be received by the holders of the common stock in such change of control or IPO transaction. Based on the terms of the conversion, the holders may receive a discount, and the notes are considered to have a contingent beneficial conversion feature. If conversion of the debt occurs, the Company will recognize an expense related to the intrinsic value. The Company recorded $37,541of accrued interest and has a total outstanding principal balance of $380,000 as of March 31, 2020.


In the event that the Company consummates a financing prior to the Maturity Date, other than a Qualified Financing, and the economic terms thereof are more favorable to the investors in such financing than the terms of the note, the note shall automatically be amended to reflect such more favorable economic terms.


December 31, 2019 Securities Purchase Agreement


On December 31, 2019, the Company entered into a Securities Purchase Agreement and issued and sold to a third party (the “Investor”) a Convertible Note in the original principal amount of $275,000 (the “Note”), and a warrant to purchase 100,000 shares of the Company’s common stock (the “Warrant”). The aggregate purchase price received by the Company was $250,000 after an original issue discount of $25,000. A one-time interest charge of 8% was applied on December 31, 2019 and will be payable, along with the Principal, on July 31, 2020 (the “Maturity Date”), as may be extended at the option of the Investor.


The unpaid outstanding principal amount and accrued and unpaid interest under the Note shall be convertible into shares of the Company’s common stock at any time at the option of the Investor. The conversion price shall be equal to 80% multiplied by the price per share paid by the investors in the next capital raising transaction consummated by the Company in the amount of $1,000,000 or more (the “Qualified Financing”), subject to adjustments as provided in the Note. In the event the Investor elects to convert the Note prior to a Qualified Financing, the conversion price shall be the effective exercise price per share from time to time pursuant to the Warrant. At any time prior to the Maturity Date, upon 10 business days’ notice to the Investor, the Company shall have the right to pre-pay the entire remaining principal amount of the Note subject to the pre-payment terms contained in the Note. The note is valued at face value and not considered a derivative since the Qualified Financing is at the control of the Company. The Company recorded $9,429 of accrued interest and has a total outstanding principal balance of $275,000 as of March 31, 2020.


The Note contains a price-based anti-dilution provision, pursuant to which the conversion price of the Note shall be reduced upon the occurrence of certain dilutive issuances of Company securities as set forth in the Note. The conversion of the Note is also subject to a beneficial ownership limitation of 4.99% of the number of shares of common stock outstanding immediately after giving effect to such conversion. In the event the Company, prior to the Maturity Date, issues any Security (as defined in the Note) with any term more favorable to the holder of such Security or with a term in favor of the holder of such Security that was not similarly provided to the Investor, then at the Investor’s option such term shall become a part of the Note. The Company also agreed to provide piggy-back registration rights to the Investor pursuant to which the Company shall include all shares issuable upon conversion of the Note on the next registration statement the Company files with the Securities and Exchange Commission.


The Note contains events of default which, among other things, entitle the Investor to accelerate the due date of the unpaid principal amount of, and all accrued and unpaid interest on, the Note. Upon the occurrence of any event of default, the outstanding balance shall immediately and automatically increase to 130% of the outstanding balance immediately prior to the event of default, and the conversion price of the Note shall be redefined to equal 65% of the lowest trade accruing during the 10 consecutive Trading Days (as defined in the Note) immediately preceding the applicable Conversion Date (as defined in the Note). Nickolay Kukekov, a director of the Company, and a third party, each has personally guaranteed the repayment of the Note.


The Warrant has an exercise price of $1.25 per share (the “Exercise Price”), subject to adjustments as provided in the Warrant, and has a term of five years. The Warrant contains a price-based anti-dilution provision, pursuant to which the exercise price of the Warrant shall be reduced upon the occurrence of certain dilutive issuances of securities as set forth in the Warrant, with a corresponding increase in the number of shares underlying the Warrant if the dilutive event occurs during the first three years of the Warrant, and a cashless exercise provision. The exercise of the Warrant is subject to a beneficial ownership limitation of 9.99% of the number of shares of common stock outstanding immediately after giving effect to such exercise. The Company calculated the Warrants at fair value of $130,768 using the Monte Carlo model, which was recognized as a discount to the Note and is being amortized as interest expense over the remaining term of the notes.


In the year ended December 31, 2019, the Company recorded a total debt discount of $155,768 related to the above convertible notes. On March 18, 2020, the Company recorded an additional debt discount of $176,274 related to the above convertible notes. Amortization of the debt discount is recorded as interest expense and a total of $83,523 was amortized during the three months ended March 31, 2020.


Derivative Accounting for the Convertible Notes Payable


The Company evaluated the terms and conditions of the Note under the guidance of ASC 815. The conversion terms of the convertible notes are variable based on certain factors, such as the future price of the Company’s common stock. The number of shares of common stock to be issued is based on the future price of the Company’s common stock. The number of shares of common stock issuable upon conversion of the promissory note is indeterminate. Due to the fact that the number of shares of common stock issuable could exceed the Company’s authorized share limit, the equity environment is tainted, and all additional convertible debentures and warrants are included in the value of the derivative liabilities. Pursuant to ASC 815-15 Embedded Derivatives, the fair values of the variable conversion options and warrants and shares to be issued were recorded as derivative liabilities on the issuance date and revalued at each reporting period.


Certain of the Company’s embedded conversion features on debt and outstanding warrants are treated as derivative liabilities for accounting purposes under ASC 815 due to insufficient authorized shares to settle these outstanding contracts, or due to other rights connected with these contracts, such as registration rights. In the case of insufficient authorized share capital available to fully settle outstanding contracts, the Company utilizes the issuance date sequencing method to reclassify outstanding contracts as derivative instruments. These instruments do not trade in an active securities market.


Derivative Liabilities


The table below provides a summary of the changes in fair value, including net transfers in and/or out of all financial liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) during the three months ended March 31, 2020:


   Amount 
Balance on December 31, 2019  $- 
Issuances to debt discount   176,274 
Issuances to interest expense   348,350 
Change in fair value of derivative liabilities   39,916 
Change in fair value of warrant liabilities   7,303 
Balance on March 31, 2020  $571,843 

The fair value of the derivative conversion features and warrant liabilities as of March 31, 2020 were calculated using a Monte-Carlo option model valued with the following assumptions:


    March 31,
2020
 
Dividend yield   0 %
Expected volatility     108% - 130.3 %
Risk free interest rate     0.21% - 0.51 %
Contractual terms (in years)     0.08 – 4.50  
Conversion/Exercise price   $ 0.80 - $1.25  

XML 22 R11.htm IDEA: XBRL DOCUMENT v3.20.2
Promissory Notes
3 Months Ended
Mar. 31, 2020
Promissory Notes [Abstract]  
PROMISSORY NOTES

NOTE 5 – PROMISSORY NOTES


October 23, 2019 Note


On October 23, 2019, an investor of the Company subscribed for a promissory note (the “October Note”) and loaned to the Company $50,000.


The October Note bears interest at a fixed rate of 14% per annum, computed based on a 360-day year of twelve 30-day months, which interest will be payable quarterly until the maturity date. The principal amount and any accrued and unpaid interest due under the October Note is payable on October 21, 2020. The Company recorded $1,359 of accrued interest and has a total outstanding principal balance of $50,000 as of March 31, 2020.


The October Note contains customary events of default, which, if uncured, entitle the lender to accelerate the due date of the unpaid principal amount of, and all accrued and unpaid interest on, the October Note. 


February 21, 2020 Note


On February 21, 2020, a third party loaned the Company $20,000, evidenced by a non-convertible promissory note (the “February Note”). The February Note bears interest at a fixed rate of 12% per annum, computed based on a 360-day year of twelve 30-day months, which interest will be payable quarterly until the maturity date. The principal amount and any accrued and unpaid interest due under the February Note is payable on July 1, 2020. The Company recorded $260 of accrued interest and has a total outstanding principal balance of $20,000 as of March 31, 2020.


The February Note contains customary events of default, which, if uncured, entitle the lender to accelerate the due date of the unpaid principal amount of, and all accrued and unpaid interest on, the February Note.


XML 23 R12.htm IDEA: XBRL DOCUMENT v3.20.2
Other Liabilities
3 Months Ended
Mar. 31, 2020
Other Liabilities and Financial Instruments Subject to Mandatory Redemption [Abstract]  
OTHER LIABILITIES

NOTE 6 – OTHER LIABILITIES


In 2016, the Company recorded a liability in connection with the sale of two Electroencephalograms (“EEG”) machines as it provided a guarantee to the customer’s financing company (See Note 2). In June 2017, the customer defaulted on its payments and an additional $19,107 was booked as a liability and recognized as a loss on the sale of the assets for interest and some taxes related to the transaction. As of March 31, 2020 and December 31, 2019, total liability to the financing company reflected in Other Liabilities is $4,595 and $6,377, respectively.


Future minimum commitments related to the EEG liability consisted of the following at March 31, 2020:


Years ended December 31,  Amount (USD) 
Remainder 2020   4,595 
Total  $4,595 

XML 24 R13.htm IDEA: XBRL DOCUMENT v3.20.2
Related Party Transactions
3 Months Ended
Mar. 31, 2020
Related Party Transactions [Abstract]  
RELATED PARTY TRANSACTIONS

NOTE 7 – RELATED PARTY TRANSACTIONS


During the year ended December 31, 2018, an entity controlled by Mr. Vadim Sakharov, former CEO of the Company and current director and executive officer, provided a $50,000 non-interest-bearing, no-term loan to the Company. An additional $5,530 of non-interest bearing no-term proceeds were loaned to the Company during the year ended December 31, 2019. As of March 31, 2020, and December 31, 2019, the balance was $55,530 and $55,530, respectively.


During the three months ended March 31, 2020 and 2019, the Company had expenses related to research and development costs of $10,200 and $0, respectively, to an entity controlled by Mr. Sakharov.


During the year ended December 31, 2019, an affiliate of Boris Goldstein, the Company’s Chairman of the Board, provided an aggregate total of $50,000, in non-interest-bearing, no-term loans to the Company. As of March 31, 2020 and December 31, 2019, the balance was $50,000 and $50,000, respectively.


On September 1, 2018, the Company entered into a sublease agreement with a company controlled by the Company’s Chairman, whereby the Company makes payments to the related party for shared office space. This lease was terminated on March 31, 2019. For the three months ended March 31, 2020 and 2019, the Company has made approximately $0 and $4,900, respectively, in rent payments to the related party.


During the year ended December 31, 2019, an affiliate of Nickolay Kukekov, a director of the Company, provided an aggregate total of $217,000 in non-interest-bearing, no-term loans to the Company. As of March 31, 2020 and December 31, 2019, the balance was $217,000 and $217,000, respectively.


During the three months ended March 31, 2020 and 2019, the Company purchased an aggregate of $101,613 and $0 of medical devices for resale and distribution from Neurotech, a company that Mr. Sakharov is a shareholder and executive manager. 


XML 25 R14.htm IDEA: XBRL DOCUMENT v3.20.2
Stockholders' Deficit
3 Months Ended
Mar. 31, 2020
Stockholders' Equity Note [Abstract]  
STOCKHOLDERS' DEFICIT

NOTE 8 – STOCKHOLDERS’ DEFICIT


Preferred Stock


The Company has authorized 10,000,000 shares of undesignated preferred stock with a $0.001 par value. As of March 31, 2020, no preferred shares have been issued and these shares are considered blank check preferred shares with no terms, limitations, or rights associated with them.


Common Stock


The Company has authorized 200,000,000 shares of common stock with a $0.001 par value per share. The holders of common stock are entitled to one vote for each share of common stock held at the time of vote. As of March 31, 2020, the Company had 19,383,794 shares outstanding or deemed outstanding.


Shares Issued for Services


On August 8, 2018, the Company entered into a one-year agreement with an advisor for consulting services, as extended for an additional one-year period. The Company extended this agreement through August 9, 2020. Pursuant to the agreement, as amended, the Company has the right to pay $5,000 or issue the advisor a maximum of 6,667 shares of common stock on a quarterly basis. The Company elected to issue 1,667 shares for the services provided during the three months ended March 31, 2020 at a value of $3.00 per share or $5,001.


On August 28, 2018, the Company entered into a one-year agreement with an advisor for consulting services, as extended for an additional one-year period. The Company has extended this agreement through August 28, 2020. Pursuant to the agreement, as amended, the Company has the right to pay $5,000 or issue the advisor a maximum of 6,667 shares of common stock on a quarterly basis. The Company elected to issue 1,667 shares for the services provided during the three months ended March 31, 2020 at a value of $3.00 per share or $5,001.


Warrants


The following table summarized the warrant activity for the three months ended March 31, 2020:


           Weighted     
       Weighted   Average     
       Average   Remaining   Aggregate 
   Number of   Exercise   Contractual   Intrinsic 
Warrants  Shares   Price   Term   Value 
Balance Outstanding, December 31, 2019   502,250   $0.57    3.98   $         - 
Granted   -    -    -    - 
Forfeited   -    -    -    - 
Exercised   -    -    -    - 
Expired   -    -    -    - 
Balance Outstanding, March 31, 2020   502,250   $0.57    3.73   $- 
                     
Exercisable, March 31, 2020   502,250   $0.57    3.73   $- 

Options


On January 14, 2019, the Board of Directors approved the issuance of options to purchase an aggregate of 800,000 and 200,000 shares of common stock to Boris Goldstein and Vadim Sakharov, respectively. The options have an exercise price of $0.75 per share which will vest over a 24-month period as follows: 25% (or 200,000 and 50,000, respectively) shall vest six months after the grant date with the remaining options will vest on a monthly basis at a rate of 1/24th per month. The options will expire on January 14, 2029. The aggregate fair value of $17,111 was calculated using the Black-Scholes pricing model with the following assumptions: (i) expected life 10 years, (ii) volatility of 77%, (iii) risk free rate of 2.71% (iv) dividend rate of zero, (v) stock price of $0.042, and (vi) exercise price of $0.75. The expense will be amortized over the vesting period and a total of $10,432 was recorded during the year ended December 31, 2019. A total of $1,595 was recorded during the three months ended March 31, 2020.


On January 30, 2020, the Board of Directors approved the issuance of options to purchase an aggregate of 800,000 of common stock to Boris Goldstein. The options have an exercise price of $0.75 per share which will vest over a 24-month period on a monthly basis at a rate of 1/24th per month. The options will expire on January 30, 2030. The aggregate fair value of $51,757 was calculated using the Black-Scholes pricing model with the following assumptions: (i) expected life 10 years, (ii) volatility of 76%, (iii) risk free rate of 1.57% (iv) dividend rate of zero, (v) stock price of $0.12, and (vi) exercise price of $0.75. The expense will be amortized over the vesting period. A total of $4,319 was recorded during the three months ended March 31, 2020.


The following table summarized the option activity for the three months ended March 31, 2020:


           Weighted     
       Weighted   Average     
       Average   Remaining   Aggregate 
   Number of   Exercise   Contractual   Intrinsic 
Options  Shares   Price   Term   Value 
Balance Outstanding, December 31, 2019   1,000,000   $0.75    9.05   $          - 
Granted   800,000    0.75    10    - 
Forfeited   -    -    -    - 
Exercised   -    -    -    - 
Expired   -    -    -    - 
Balance Outstanding, March 31, 2020   1,800,000   $0.75    9.26   $- 
                     
Exercisable, March 31, 2020   818,750   $0.75    8.92   $- 

For future periods, the remaining value of the stock options totaling approximately $52,523 will be amortized into the statement of operations consistent with the period for which the services will be rendered.  


XML 26 R15.htm IDEA: XBRL DOCUMENT v3.20.2
Commitments and Contingencies
3 Months Ended
Mar. 31, 2020
Commitments and Contingencies Disclosure [Abstract]  
COMMITMENTS AND CONTINGENCIES

NOTE 9 – COMMITMENTS AND CONTINGENCIES


Operating Leases


In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842), which requires lessees to recognize most leases on their balance sheets as a right-of-use asset with a corresponding lease liability. Lessor accounting under the standard is substantially unchanged. Additional qualitative and quantitative disclosures are also required. The Company adopted the standard effective January 1, 2019 using the cumulative-effect adjustment transition method, which applies the provisions of the standard at the effective date without adjusting the comparative periods presented. The Company adopted the following practical expedients and elected the following accounting policies related to this standard update:


  The option to not reassess prior conclusions related to the identification, classification and accounting for initial direct costs for leases that commenced prior to January 1, 2019.

  Short-term lease accounting policy election allowing lessees to not recognize right-of-use assets and liabilities for leases with a term of 12 months or less.

  The option to not separate lease and non-lease components for certain equipment lease asset categories such as freight car, vehicles and work equipment.

  The package of practical expedients applied to all of its leases, including (i) not reassessing whether any expired or existing contracts are or contain leases, (ii) not reassessing the lease classification for any expired or existing leases, and (iii) not reassessing initial direct costs for any existing leases.

As a result of the above, the adoption of ASC 842 did not have a material effect on the consolidated financial statements. The Company will review for the existence of embedded leases in future agreements.


The Company has inventoried all leases where the Company is a lessee as of the initial date of application and has examined other contracts with suppliers, vendors, customers and other outside parties to identify whether such contracts contain an embedded lease as defined under the new guidance. The Company’s lease population comprises lease for corporate office space and a warehouse that are year-to-year basis with monthly rent ranging from approximately $150 to $3,200 and qualify under the practical expedient of short-term leases. The Company does not have exclusive rights of control to any assets in the customer and vendor contracts reviews and does not have any financing leases as of the date of adoption of ASC 842.


Beginning January 1, 2020, the Company entered into a 12-month lease agreement ending December 31, 2020, with a third party in Russia. The Company is paying rent at a rate of 17,900 Rubles ($227) per month.


Beginning June 1, 2019, the Company entered into a 10-month lease agreement ending March 31, 2020 with a third party in Russia. The Company is paying rent at a rate of 12,000 Rubles ($152) per month.


Additionally, the Company also rents a warehouse. Beginning December 1, 2018, the Company entered into a 6-month warehouse rental agreement for $2,980 per month. The lease was renewed on June 1, 2019 for an additional year ending May 31, 2020, for $3,171 per month.


Total rent expense for the three months ended March 31, 2020 and 2019 was $11,638 and $22,060 respectively.


Equity Incentive Plan


As of September 21, 2018, the Company’s board of directors adopted, and stockholders approved the 2018 Equity Incentive Plan (“the 2018 Plan”). The 2018 Plan has a 10-year term, which terminates on the day prior to the 10th anniversary of its adoption by the Board. Under the 2018 Plan, the Company may grant equity-based incentive awards, including options, restricted stock, and other stock-based awards, to any directors, employees, advisers, and consultants that provide services to the Company. The vesting period, term and exercise price will be determined at the time of the grant. An aggregate of up to 3,500,000 of the Company’s common stock are reserved for issuance under the 2018 Plan. As of March 31, 2020 the Company has granted 1,800,000 options and has 1,800,000 options outstanding under the 2018 Plan (see Note 8).


XML 27 R16.htm IDEA: XBRL DOCUMENT v3.20.2
Restatement
3 Months Ended
Mar. 31, 2020
RESTATEMENT

NOTE 10 - RESTATEMENT


The Company, while undergoing the review of its consolidated financial statements for the six months ended June 30, 2020, commenced an evaluation of its accounting in connection with the Note (as defined in Note 4) for derivative accounting in accordance with ASC 815. Management originally deemed these agreements to be fixed in nature and a derivative would not need be recognized. On August 12, 2020, under the authority of the board of directors, the Company determined that these agreements and underlying warrants should have been recorded as a derivative with changes in the fair value of the derivate to be recorded in the condensed consolidated statement of operations and comprehensive loss (see Note 4). Accordingly, the Company has restated the condensed consolidated interim financial statements and included the required disclosures for the three months ended March 31, 2020.


The following table sets forth the effects of the adjustments on affected items within the Company’s previously reported Condensed Consolidated Balance Sheet at March 31, 2020:  


   March 31, 2020 
   As Reported   Adjustment   As Restated 
Convertible notes payable, net  $565,781   $(159,299)  $406,482 
Derivative liabilities  $-   $571,843   $571,843 
Current liabilities  $1,467,171   $412,544   $1,879,715 
Total liabilities  $1,467,171   $412,544   $1,879,715 
Accumulated deficit  $(4,211,193)  $(412,544)  $(4,623,737)
Total stockholders’ deficit  $1,419,785   $(412,544)  $(1,832,329)

The following table sets forth the effects of the adjustments on affected items within the Company’s previously reported Condensed Consolidated Statement of Operations and Comprehensive Loss for the three months ended March 31, 2020:


   March 31, 2020 
   As Reported   Adjustment   As Restated 
Interest expense  $(88,291)  $(365,325)  $(453,616)
Change in fair market value of derivative liabilities  $-   $(47,219)  $(47,219)
Net Loss  $(539,116)  $(412,544)  $(951,660)
Total comprehensive loss  $(540,169)  $(412,544)  $(952,713)
Net loss per common share, basic and diluted  $(0.03)  $(0.02)  $(0.05)

XML 28 R17.htm IDEA: XBRL DOCUMENT v3.20.2
Subsequent Events
3 Months Ended
Mar. 31, 2020
SUBSEQUENT EVENTS

NOTE 11 – SUBSEQUENT EVENTS


In accordance with ASC 855 “Subsequent Events,” Company management reviewed all material events through the date this report was issued, and the following subsequent events took place.


The Effects of COVID-19


The World Health Organization (WHO) declared the coronavirus outbreak a pandemic on January 30, 2020. Since the outbreak in China in December 2019, COVID-19 has expanded its impact to Europe, where all of our operations reside, as well as our employees, suppliers and customers. While the disruption is currently expected to be temporary, there is considerable uncertainty around the duration of the closings and shelter-in-place orders and the ultimate impact of governmental initiatives. However, the financial impact and duration cannot be reasonably estimated at this time.


Convertible Grid Notes


On April 21, 2020, the Company issued a Convertible Grid Promissory Note (the “Caleca Note”) to Thomas J. Caleca (“Caleca”), an existing stockholder of the Company, pursuant to which Caleca agreed to advance to the Company the aggregate principal amount of $125,000 (the “Caleca Aggregate Advance”). The Company also issued to Caleca a common stock purchase warrant (the “Caleca Warrant”), granting Caleca the right to purchase up to 750,000 shares of the Company’s common stock at a per share exercise price of $0.80 (subject to adjustment as set forth in the Caleca Warrant). 


Also on April 21, 2020, the Company issued a Convertible Grid Promissory Note (the “Brown Note”, and together with the Caleca Note, the “Grid Notes”) to Andrew Brown (“Brown”, and together with Caleca, the “Grid Investors”), an existing stockholder of the Company, pursuant to which Brown agreed to advance to the Company the aggregate principal amount of $125,000 (the “Brown Aggregate Advance”, and together with the Caleca Aggregate Advance, the “Aggregate Advance”). The Company also issued to Brown a common stock purchase warrant (the “Brown Warrant”, and together with the Caleca Warrant, the “2020 Warrants”), granting Brown the right to purchase up to 750,000 shares of the Company’s common stock at a per share exercise price of $0.80 (subject to adjustment as set forth in the Brown Warrant). The 2020 Warrants are exercisable at any time commencing on the eighteen-month anniversary of the issuance of the 2020 Warrants (as may be accelerated pursuant to the terms of the 2020 Warrants) and expiring on the five-year anniversary of the issuance of the 2020 Warrants. 


On April 22, 2020, the Grid Investors each made their first cash advance of $25,000 pursuant to the terms of the Grid Notes, for an aggregate cash advance to the Company of $50,000 (the “First Advance”). The Grid Investors shall make additional cash advances to the Company pursuant to the terms of their Grid Notes.


The Grid Notes bear interest on the unpaid balances at a fixed simple rate of twelve percent (12%) per annum (subject to a rate increase if the Company commits an Event of Default (as defined in the Grid Notes)), computed based on a 360-day year of twelve 30-day months, commencing on the date of the respective advance and payable quarterly. The principal amount of the Aggregate Advance, or so much thereof as has been advanced to the Company by the Grid Investors from time to time pursuant to the Grid Notes, will be payable on April 21, 2021 (the “Maturity Date”), unless sooner converted into shares of the Company’s common stock pursuant to the terms of the Grid Notes.


The unpaid outstanding principal amount and accrued and unpaid interest under the Grid Notes shall be convertible at any time prior to the Maturity Date at the election of the Grid Investors into such number of shares of the Company’s common stock obtained by dividing the amount so converted by $1.00 (the “Conversion Price”). At the Maturity Date, all of the remaining unpaid outstanding principal amount and accrued and unpaid interest (the “Outstanding Balance”) under the Grid Notes shall automatically convert into such number of shares of the Company’s common stock obtained by dividing the Outstanding Balance by the Conversion Price. The Grid Notes may not be prepaid by the Company in whole or in part without the prior written consent of the respective Grid Investor.


The Grid Notes contain customary events of default, which, if uncured, entitle the Grid Investors to accelerate the due date of the unpaid principal amount of, and all accrued and unpaid interest on, their Grid Notes.


XML 29 R18.htm IDEA: XBRL DOCUMENT v3.20.2
Accounting Policies, by Policy (Policies)
3 Months Ended
Mar. 31, 2020
Accounting Policies [Abstract]  
Principles of Consolidation

Principles of Consolidation


The Company evaluates the need to consolidate affiliates based on standards set forth in ASC 810 Consolidation (“ASC 810").


The consolidated financial statements include the accounts of the Company and its subsidiaries, MemoryMD and MemoryMD - Russia. The operations of the newly formed 100% wholly owned subsidiary, MemoryMD – Russia, are included beginning April 1, 2019. All significant consolidated transactions and balances have been eliminated in consolidation.

Use of Estimates

Use of Estimates


The preparation of financial statements in accordance with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Significant estimates include the useful life of property and equipment and assumptions used in the valuation of options and warrants.

Cash and Cash Equivalents

Cash and Cash Equivalents


The Company considers all highly liquid temporary cash investments with an original maturity of three months or less to be cash equivalents. At March 31, 2020 and December 31, 2019, the Company had no cash equivalents.


The Company’s cash is held with financial institutions, and the account balances may, at times, exceed the Federal Deposit Insurance Corporation (FDIC) insurance limit. Accounts are insured by the FDIC up to $250,000 per financial institution. The Company has not experienced any losses in such accounts with these financial institutions. As of March 31, 2020 and December 31, 2019, the Company had $0 and $11,436, respectively, in excess over the FDIC insurance limit.

Inventory

Inventory


Inventory consists of finished goods that are valued at lower of cost or market using the weighted average method.  As of March 31, 2020 and December 31, 2019, the Company had inventory totaling $371 and $0, respectively.

Property, Equipment and Depreciation

Property, Equipment and Depreciation


Property and equipment are recorded at cost, less depreciation. Depreciation is computed using the straight-line method over the estimated useful lives of the assets. Expenditures for repair and maintenance are charged to operations as incurred. Property and equipment consisted of computer equipment, with an estimated useful life of three years. Depreciation expense was $341 and $299 for the three months ended March 31, 2020 and 2019, respectively.

Convertible Notes Payable

Convertible Notes Payable


The Company has issued convertible notes, which contain variable conversion features, whereby the outstanding principal and accrued interest automatically convert into common shares at a fixed price which may be at a discount to the common stock at the time of conversion. For certain notes, the conversion features of these notes are contingent upon future events, whereby, the holder agreed not to convert until the contingent future event has occurred.

Derivative Instruments

Derivative Instruments


The Company evaluates its convertible notes and warrants to determine if those contracts or embedded components of those contracts qualify as derivatives to be separately accounted for in accordance with ASC 815. The result of this accounting treatment is that the fair value of the embedded derivative is recorded as a liability and marked-to-market each balance sheet date. In the event that the fair value is recorded as a liability, the change in fair value is recorded in the statements of operations as other income or expense. Upon conversion or exercise of a derivative instrument, the instrument is marked to fair value at the conversion date and then that fair value is reclassified to equity.


The Company utilizes the Monte Carlo Method that values the liability of the debt conversion feature derivative financial instruments and derivative warrants based on a probability of a down round event. The reason the Company selected the lattice binomial model is that in many cases there may be multiple embedded features or the features of the bifurcated derivatives may be so complex that a Black-Scholes valuation does not consider all of the terms of the instrument. Therefore, the fair value may not be appropriately captured by simple models. 


From time to time, certain of the Company’s embedded conversion features on debt and outstanding warrants have been treated as derivative liabilities for accounting purposes under ASC 815 due to insufficient authorized shares to fully settle conversion features of the instruments if exercised. In this case, the Company utilized the latest inception date sequencing method to reclassify outstanding instruments as derivative instruments. These contracts were recognized at fair value with changes in fair value recognized in earnings until such time as the conditions giving rise to such derivative liability classification were settled.

Revenue Recognition

Revenue Recognition


On January 1, 2018, the Company adopted ASC Topic 606 Revenue from Contracts with Customers. This guidance requires an entity to recognize revenue by applying the following steps:  (1) identify the contract with a customer; (2) identify the performance obligations in the contract; (3) determine the transaction price; (4) allocate the transaction price to each performance obligation in the contract; and (5) recognize revenue when each performance obligation is satisfied. Once the steps are met, revenue is recognized, generally upon receiving a letter of acceptance from the customer. There has been no material effect on the Company’s financial statements as a result of adopting Topic 606.


The Company recognizes revenue from the sale of NeuroCaps, Universal as well as revenue from the sale of goods purchased through manufacturers of medical devices. All revenue for the three months ended March 31, 2020 is from the sale of medical devices purchased from Neurotech, a related party.

Research and Development Costs

Research and Development Costs


The Company expenses all research and development costs as they are incurred. Research and development includes expenditures in connection with in-house research and development salaries and staff costs, application and filing for regulatory approval of proposed products, regulatory and scientific consulting fees, as well as contract research, data collection, and monitoring, related to the research and development of the cloud infrastructure, data imaging, and proprietary products and technology. Research and development costs recognized in the statement of operations for the three months ended March 31, 2020 and 2019 were $96,390 and $22,290, respectively.

Sales and Marketing

Sales and Marketing


Advertising and marketing costs are expensed as incurred. Advertising and marketing costs recognized in the statement of operations for the three months ended March 31, 2020 and 2019 were $40,584 and $47,792, respectively.

Stock-based Compensation

Stock-based Compensation


The Company measures and recognizes compensation expense for all stock-based payments at fair value over the requisite service period. The Company uses the Black-Scholes option pricing model to determine the weighted average fair value of options and warrants. Equity-based compensation expense is recorded in administrative expenses based on the classification of the employee or vendor. The determination of fair value of stock-based payment awards on the date of grant using an option-pricing model is affected by our stock price as well as by assumptions regarding a number of subjective variables. These variables include, but are not limited to, the expected stock price volatility over the term of the awards, and actual and projected employee stock option exercise behaviors.

Basic and Diluted Net Loss Per Common Share

Basic and Diluted Net Loss Per Common Share


Basic net loss per share is computed by dividing the net loss by the weighted average number of common shares outstanding during the period. Diluted net loss per common share is computed by dividing the net loss by the weighted average number of common shares outstanding for the period and, if dilutive, potential common shares outstanding during the period. Potentially dilutive securities consist of the incremental common shares issuable upon exercise of common stock equivalents such as stock options, warrants and convertible debt instruments. Potentially dilutive securities are excluded from the computation if their effect is anti-dilutive. As a result, the basic and diluted per share amounts for all periods presented are identical. In the three months ended March 31, 2020 2,302,250 anti-dilutive securities were excluded from the computation.

Fair Value of Financial Instruments

Fair Value of Financial Instruments


The Company’s financial instruments are measured and recorded at fair value based on inputs and assumptions that market participants would use in pricing an asset or a liability. Fair value is defined as the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. When determining fair value, management considers the principal or most advantageous market in which the Company would transact, and also considers assumptions that market participants would use when pricing the asset or liability, such as inherent risk, transfer restrictions, and risk of non-performance.


Fair value is determined for assets and liabilities using a three-tiered value hierarchy into which these assets and liabilities are grouped based upon significant inputs as follows:


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

  Level 2 - Observable inputs, other than Level 1 prices, such as quoted prices in active markets for similar assets and liabilities, quoted prices for identical or similar assets and liabilities in markets that are not active, or other inputs that are observable or can be corroborated by observable market data.

  Level 3 - Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. This includes certain pricing models, discounted cash flow methodologies and similar techniques that use significant unobservable inputs. When a determination is made to classify a financial instrument within Level 3, the determination is based upon the lack of significance of the observable parameters to the overall fair value measurement. However, the fair value determination for Level 3 financial instruments may consider some observable market inputs.

The lowest level of significant input determines the placement of the entire fair value measurement in the hierarchy. The carrying values of cash, prepaid expenses and other current assets, convertible notes, accounts payable, loans payable and due to others approximate fair value due to the short-term nature of these items.


The Company did not have any other Level 1 or Level 2 assets or liabilities as of March 31, 2020 and the Company did not have any other Level 1, Level 2 or Level 3 assets or liabilities as of December 31, 2019.


Fair Value of Financial Assets and Liabilities Measured on a Recurring Basis


Financial liabilities measured at fair value on a recurring basis are summarized below and disclosed on the consolidated balance sheet as of March 31, 2020.


Liabilities  Amounts at Fair Value   Level 1   Level 2   Level 3 
Derivative liability – conversion feature  $308,641   $         -   $-   $308,641 
Derivative liability - warrants   263,202    -    -    263,202 
Total  $571,843   $-   $-   $571,843 
Income Taxes

Income Taxes


The Company accounts for income taxes using the asset-and-liability method in accordance with ASC Topic 740, “Income Taxes”. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on the deferred tax assets and liabilities of a change in tax rate is recognized in the period that includes the enactment date. A valuation allowance is recorded if it is more-likely-than-not that some portion or all of the deferred tax assets will not be realized in future periods.


The Company follows the guidance in ASC Topic 740-10 in assessing uncertain tax positions. The standard applies to all tax positions and clarifies the recognition of tax benefits in the financial statements by providing for a two-step approach of recognition and measurement. The first step involves assessing whether the tax position is more-likely-than-not to be sustained upon examination based upon its technical merits. The second step involves measurement of the amount to be recognized. Tax positions that meet the more-likely-than-not threshold are measured at the largest amount of tax benefit that is greater than 50% likely of being realized upon ultimate finalization with the taxing authority. The Company recognizes the impact of an uncertain income tax position in the financial statements if it believes that the position is more likely than not to be sustained by the relevant taxing authority. The Company will recognize interest and penalties related to tax positions in income tax expense. As of March 31, 2020 and December 31, 2019, the Company had no unrecognized uncertain income tax positions.


On December 22, 2017, the passage of legislation commonly referred to as the Tax Cuts and Jobs Act (“TCJA”) was enacted and significantly revised the U.S. income tax law. The TCJA includes changes, which reduce the corporate income tax rate from 34% to 21% for years beginning after December 31, 2017. On December 22, 2017, Staff Accounting Bulletin No. 118 (“SAB 118") was issued and allows a company to recognize provisional amounts when it does not have the necessary information available, prepared or analyzed, including computations, in reasonable detail to complete its accounting for the change in tax law. SAB 118 provides for a measurement of up to one year from the date of enactment.

Recent Issued Accounting Pronouncements

Recent Issued Accounting Pronouncements


From time to time, new accounting pronouncements are issued by the Financial Accounting Standard Board (“FASB”) or other standard setting bodies that the Company adopts as of the specified effective date. Unless otherwise discussed, the Company does not believe that the impact of recently issued standards that are not yet effective will have a material impact on the Company’s financial position or results of operations upon adoption.


In June 2016, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update (“ASU”) 2016-13, “Measurement of Credit Losses on Financial Instruments,” which requires measurement and recognition of expected credit losses at the point a loss is probable to occur, rather than expected to occur, which will generally result in earlier recognition of allowances for credit losses. The new guidance is effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. The Company adopted ASU 2016-13 in the first quarter of 2020 and the adoption did not have a material impact on its condensed consolidated financial statements.

XML 30 R19.htm IDEA: XBRL DOCUMENT v3.20.2
Summary of Significant Accounting Policies (Tables)
3 Months Ended
Mar. 31, 2020
Accounting Policies [Abstract]  
Schedule of financial liabilities measured at fair value
Liabilities  Amounts at Fair Value   Level 1   Level 2   Level 3 
Derivative liability – conversion feature  $308,641   $         -   $-   $308,641 
Derivative liability - warrants   263,202    -    -    263,202 
Total  $571,843   $-   $-   $571,843 
XML 31 R20.htm IDEA: XBRL DOCUMENT v3.20.2
Convertible Notes Payable (Tables)
3 Months Ended
Mar. 31, 2020
Debt Disclosure [Abstract]  
Schedule of financial liabilities measured at fair value
   Amount 
Balance on December 31, 2019  $- 
Issuances to debt discount   176,274 
Issuances to interest expense   348,350 
Change in fair value of derivative liabilities   39,916 
Change in fair value of warrant liabilities   7,303 
Balance on March 31, 2020  $571,843 
Schedule of fair value of conversion features and warrant liabilities
    March 31,
2020
 
Dividend yield   0 %
Expected volatility     108% - 130.3 %
Risk free interest rate     0.21% - 0.51 %
Contractual terms (in years)     0.08 – 4.50  
Conversion/Exercise price   $ 0.80 - $1.25  
XML 32 R21.htm IDEA: XBRL DOCUMENT v3.20.2
Other Liabilities (Tables)
3 Months Ended
Mar. 31, 2020
Other Liabilities and Financial Instruments Subject to Mandatory Redemption [Abstract]  
Schedule of future minimum commitments
Years ended December 31,  Amount (USD) 
Remainder 2020   4,595 
Total  $4,595 
XML 33 R22.htm IDEA: XBRL DOCUMENT v3.20.2
Stockholders' Deficit (Tables)
3 Months Ended
Mar. 31, 2020
Stockholders' Equity Note [Abstract]  
Schedule of warrant activity
           Weighted     
       Weighted   Average     
       Average   Remaining   Aggregate 
   Number of   Exercise   Contractual   Intrinsic 
Warrants  Shares   Price   Term   Value 
Balance Outstanding, December 31, 2019   502,250   $0.57    3.98   $         - 
Granted   -    -    -    - 
Forfeited   -    -    -    - 
Exercised   -    -    -    - 
Expired   -    -    -    - 
Balance Outstanding, March 31, 2020   502,250   $0.57    3.73   $- 
                     
Exercisable, March 31, 2020   502,250   $0.57    3.73   $- 
Schedule of option activity
           Weighted     
       Weighted   Average     
       Average   Remaining   Aggregate 
   Number of   Exercise   Contractual   Intrinsic 
Options  Shares   Price   Term   Value 
Balance Outstanding, December 31, 2019   1,000,000   $0.75    9.05   $          - 
Granted   800,000    0.75    10    - 
Forfeited   -    -    -    - 
Exercised   -    -    -    - 
Expired   -    -    -    - 
Balance Outstanding, March 31, 2020   1,800,000   $0.75    9.26   $- 
                     
Exercisable, March 31, 2020   818,750   $0.75    8.92   $- 
XML 34 R23.htm IDEA: XBRL DOCUMENT v3.20.2
Restatement (Tables)
3 Months Ended
Mar. 31, 2020
Restatementof Previously Issued Condensed Consolidated Interim Financial Statements [Abstract]  
Schedule of previously reported condensed consolidated balance sheet
   March 31, 2020 
   As Reported   Adjustment   As Restated 
Convertible notes payable, net  $565,781   $(159,299)  $406,482 
Derivative liabilities  $-   $571,843   $571,843 
Current liabilities  $1,467,171   $412,544   $1,879,715 
Total liabilities  $1,467,171   $412,544   $1,879,715 
Accumulated deficit  $(4,211,193)  $(412,544)  $(4,623,737)
Total stockholders’ deficit  $1,419,785   $(412,544)  $(1,832,329)
Schedule of previously condensed consolidated statement of operations and comprehensive loss
   March 31, 2020 
   As Reported   Adjustment   As Restated 
Interest expense  $(88,291)  $(365,325)  $(453,616)
Change in fair market value of derivative liabilities  $-   $(47,219)  $(47,219)
Net Loss  $(539,116)  $(412,544)  $(951,660)
Total comprehensive loss  $(540,169)  $(412,544)  $(952,713)
Net loss per common share, basic and diluted  $(0.03)  $(0.02)  $(0.05)
XML 35 R24.htm IDEA: XBRL DOCUMENT v3.20.2
Organization and Nature of Operations (Details) - USD ($)
Sep. 21, 2018
Mar. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Sep. 18, 2018
Organization and Nature of Operations (Textual)          
Stock repurchase program, number of shares authorized to be repurchased 6,495,000        
Cancellation of common stock, shares (in Dollars)       $ 6,375,000  
Stock repurchase program, remaining number of shares authorized to be repurchased       120,000  
Business acquisition, equity interest issued or issuable, number of shares 13,421,752        
Common stock, shares authorized   200,000,000 200,000,000    
Preferred stock, shares authorized   10,000,000 10,000,000   10,000,000
Minimum [Member]          
Organization and Nature of Operations (Textual)          
Common stock, shares authorized         50,000,000
Maximum [Member]          
Organization and Nature of Operations (Textual)          
Common stock, shares authorized         200,000,000
Memory MD [Member]          
Organization and Nature of Operations (Textual)          
Equity method investment, ownership percentage 100.00%        
Memory MD [Member] | Principal and Accrued Interest of Promissory Note Issued by Memory MD [Member] | Automatic Conversion At Closing [Member]          
Organization and Nature of Operations (Textual)          
Debt conversion, converted instrument, shares issued 4,083,252        
Debt conversion, original debt, amount (in Dollars) $ 1,507,000        
Memory MD [Member] | Principal and Accrued Interest of Promissory Note Issued by Memory MD [Member] | Automatic Conversion Immediately Subsequent To Closing [Member]          
Organization and Nature of Operations (Textual)          
Debt conversion, converted instrument, shares issued 1,604,378        
Debt conversion, original debt, amount (in Dollars) $ 640,000        
XML 36 R25.htm IDEA: XBRL DOCUMENT v3.20.2
Summary of Significant Accounting Policies (Details) - USD ($)
1 Months Ended 3 Months Ended
Dec. 22, 2017
Mar. 31, 2020
Mar. 31, 2019
Dec. 31, 2019
Summary of Significant Accounting Policies (Textual)        
Basis of Accounting, Policy [Policy Text Block]  

Basis of Presentation


The accompanying consolidated financial statements have been prepared in accordance with GAAP.

   
Cash, FDIC Insured amount   $ 250,000    
Cash uninsured amount   0   $ 11,436
Inventory   371   $ 0
Depreciation expense   341 $ 299  
Research and development expense   96,390 22,290  
Advertising and marketing costs   $ 40,584 $ 47,792  
Anti-dilutive securities excluded from computation (in Shares)   2,302,250    
Tax benefit, percentage   50.00%    
Minimum [Member]        
Summary of Significant Accounting Policies (Textual)        
Corporate income tax rate 34.00%      
Maximum [Member]        
Summary of Significant Accounting Policies (Textual)        
Corporate income tax rate 21.00%      
Memory MD [Member]        
Summary of Significant Accounting Policies (Textual)        
Owned subsidiary, percentage   100.00%    
XML 37 R26.htm IDEA: XBRL DOCUMENT v3.20.2
Summary of Significant Accounting Policies (Details) - Schedule of financial liabilities measured at fair value
3 Months Ended
Mar. 31, 2020
USD ($)
Summary of Significant Accounting Policies (Details) - Schedule of financial liabilities measured at fair value [Line Items]  
Derivative liability – conversion feature $ 308,641
Derivative liability - warrants 263,202
Total 571,843
Fair Value, Inputs, Level 1 [Member]  
Summary of Significant Accounting Policies (Details) - Schedule of financial liabilities measured at fair value [Line Items]  
Derivative liability – conversion feature
Derivative liability - warrants
Total
Fair Value, Inputs, Level 2 [Member]  
Summary of Significant Accounting Policies (Details) - Schedule of financial liabilities measured at fair value [Line Items]  
Derivative liability – conversion feature
Derivative liability - warrants
Total
Fair Value, Inputs, Level 3 [Member]  
Summary of Significant Accounting Policies (Details) - Schedule of financial liabilities measured at fair value [Line Items]  
Derivative liability – conversion feature 308,641
Derivative liability - warrants 263,202
Total $ 571,843
XML 38 R27.htm IDEA: XBRL DOCUMENT v3.20.2
Going Concern (Details) - USD ($)
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Dec. 31, 2019
Dec. 31, 2018
Going Concern (Textual)        
Revenues $ 133,845 $ 2,250    
Net loss (951,660) (410,259)    
Net cash used in operation activity (252,319) (423,803)    
Working capital deficit 1,833,662      
Stockholders' deficit (1,832,329) $ (459,336) $ (895,532) $ (53,972)
Accumulated deficit $ (4,623,737)   $ (3,672,077)  
XML 39 R28.htm IDEA: XBRL DOCUMENT v3.20.2
Convertible Notes Payable (Details) - USD ($)
1 Months Ended 3 Months Ended 12 Months Ended
Jul. 23, 2019
Feb. 02, 2019
Mar. 18, 2020
Jan. 31, 2019
Jan. 18, 2019
Mar. 31, 2020
Mar. 31, 2019
Dec. 31, 2020
Dec. 31, 2019
Convertible Notes Payable (Textual)                  
Proceeds from convertible debt           $ 20,000    
Warrants fair value           263,202      
Interest Expense, Debt, Excluding Amortization           $ 83,523      
Debt Instrument, Redemption, Period One [Member]                  
Convertible Notes Payable (Textual)                  
Convertible notes payable, description           The unpaid outstanding principal amount and accrued and unpaid interest under the Note shall be convertible into shares of the Company’s common stock at any time at the option of the Investor. The conversion price shall be equal to 80% multiplied by the price per share paid by the investors in the next capital raising transaction consummated by the Company in the amount of $1,000,000 or more (the “Qualified Financing”), subject to adjustments as provided in the Note. In the event the Investor elects to convert the Note prior to a Qualified Financing, the conversion price shall be the effective exercise price per share from time to time pursuant to the Warrant. At any time prior to the Maturity Date, upon 10 business days’ notice to the Investor, the Company shall have the right to pre-pay the entire remaining principal amount of the Note subject to the pre-payment terms contained in the Note. The note is valued at face value and not considered a derivative since the Qualified Financing is at the control of the Company. The Company recorded $9,429 of accrued interest and has a total outstanding principal balance of $275,000 as of March 31, 2020.      
Convertible Notes Payable [Member] | Debt Instrument, Redemption, Period One [Member]                  
Convertible Notes Payable (Textual)                  
Maximum amount of private offering.       $ 500,000          
Proceeds from convertible debt $ 150,000 $ 130,000     $ 100,000        
Convertible notes payable, description       The notes bear interest at a fixed rate of 10% per annum, computed based on a 360-day year and mature on the earlier of one year from the date of issuance or the consummation of an equity or equity-linked round of financing of the Company in excess of $1,000,000 (“Qualified Financing”) or other event pursuant to which conversion shares are to be issued pursuant to the terms of the note.          
Principle amount           $ 380,000      
Convertible Notes Payable [Member] | Securities Purchase Agreement [Member]                  
Convertible Notes Payable (Textual)                  
Principle amount                 $ 275,000
Warrant purchase shares (in Shares)                 100,000
Purchase price received                 $ 250,000
Original issue discount               $ 25,000  
Interest charge in percentage               8.00%  
Beneficial ownership percentage                 4.99%
Outstanding balance percentage                 130.00%
Conversion price redefined                 65.00%
Warrant exercise price per share (in Dollars per share)                 $ 1.25
Debt discounts     $ 176,274            
Convertible Notes Payable [Member] | Collaborative Arrangement, Transaction with Party to Collaborative Arrangement [Member]                  
Convertible Notes Payable (Textual)                  
Beneficial ownership percentage of warrant                 9.99%
Warrants fair value                 $ 130,768
Debt discounts                 $ 155,768
XML 40 R29.htm IDEA: XBRL DOCUMENT v3.20.2
Convertible Notes Payable (Details) - Schedule of change in fair value including net transfers
3 Months Ended
Mar. 31, 2020
USD ($)
Schedule of change in fair value including net transfers [Abstract]  
Balance on December 31, 2019
Issuances to debt discount 176,274
Issuances to interest expense 348,350
Change in fair value of derivative liabilities 39,916
Change in fair value of warrant liabilities 7,303
Balance on March 31, 2020 $ 571,843
XML 41 R30.htm IDEA: XBRL DOCUMENT v3.20.2
Convertible Notes Payable (Details) - Schedule of fair value of conversion features and warrant liabilities
3 Months Ended
Mar. 31, 2020
$ / shares
Convertible Notes Payable (Details) - Schedule of fair value of conversion features and warrant liabilities [Line Items]  
Dividend yield 0.00%
Minimum [Member]  
Convertible Notes Payable (Details) - Schedule of fair value of conversion features and warrant liabilities [Line Items]  
Expected volatility 108.00%
Risk free interest rate 0.21%
Contractual terms (in years) 29 days
Conversion/Exercise price (in Dollars per share) $ 0.80
Maximum [Member]  
Convertible Notes Payable (Details) - Schedule of fair value of conversion features and warrant liabilities [Line Items]  
Expected volatility 130.30%
Risk free interest rate 0.51%
Contractual terms (in years) 4 years 6 months
Conversion/Exercise price (in Dollars per share) $ 1.25
XML 42 R31.htm IDEA: XBRL DOCUMENT v3.20.2
Promissory Notes (Details) - USD ($)
3 Months Ended
Mar. 31, 2020
Feb. 21, 2020
Oct. 23, 2019
Promissory Notes (Details) [Line Items]      
Loaned amount     $ 50,000
Description of non-convertible promissory note The October Note bears interest at a fixed rate of 14% per annum, computed based on a 360-day year of twelve 30-day months, which interest will be payable quarterly until the maturity date.    
Accrued interest $ 1,359    
Outstanding principal balance $ 50,000    
February 21, 2020 Note [Member]      
Promissory Notes (Details) [Line Items]      
Loaned amount   $ 20,000  
Description of non-convertible promissory note The February Note bears interest at a fixed rate of 12% per annum, computed based on a 360-day year of twelve 30-day months, which interest will be payable quarterly until the maturity date.    
Accrued interest $ 260    
Outstanding principal balance $ 20,000    
XML 43 R32.htm IDEA: XBRL DOCUMENT v3.20.2
Other Liabilities (Details)
1 Months Ended 12 Months Ended
Jul. 31, 2017
USD ($)
Dec. 31, 2016
Mar. 31, 2020
USD ($)
Dec. 31, 2019
USD ($)
Other Liabilities (Textual)        
Number of machines   2    
Gain (Loss) on Sale of Assets and Asset Impairment Charges $ 19,107      
Other liabilities     $ 4,595 $ 6,377
XML 44 R33.htm IDEA: XBRL DOCUMENT v3.20.2
Other Liabilities (Details) - Schedule of future minimum commitments
Mar. 31, 2020
USD ($)
Schedule of future minimum commitments [Abstract]  
Remainder 2020 $ 4,595
Total $ 4,595
XML 45 R34.htm IDEA: XBRL DOCUMENT v3.20.2
Related Party Transactions (Details) - USD ($)
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Dec. 31, 2019
Dec. 31, 2018
Mr. Sakharov shareholder and executive managerr [Member]        
Related Party Transactions (Details) [Line Items]        
Expenses related to research and development cost $ 10,200 $ 0    
Medical devices for resale and distribution 101,613 0    
Affiliate of Boris Goldstein [Member]        
Related Party Transactions (Details) [Line Items]        
Loan amount     $ 50,000  
Due to related parties 50,000   50,000  
Affiliate of Nickolay Kukekov [Member]        
Related Party Transactions (Details) [Line Items]        
Loan amount     217,000  
Due to related parties 217,000   217,000  
Chief Executive Officer [Member]        
Related Party Transactions (Details) [Line Items]        
Loan amount     5,530 $ 50,000
Due to related parties 55,530   $ 55,530  
Chairman [Member] | Shared Office Space [Member]        
Related Party Transactions (Details) [Line Items]        
Related party transaction, rent payments $ 0 $ 4,900    
XML 46 R35.htm IDEA: XBRL DOCUMENT v3.20.2
Stockholders' Deficit (Details) - USD ($)
1 Months Ended 3 Months Ended 12 Months Ended
Jan. 14, 2019
Aug. 08, 2018
Jan. 30, 2020
Aug. 28, 2018
Mar. 31, 2020
Mar. 31, 2019
Dec. 31, 2019
Sep. 18, 2018
Stockholders' Deficit (Textual)                
Preferred stock, authorized (in Shares)         10,000,000   10,000,000 10,000,000
Preferred stock, par value (in Dollars per share)         $ 0.001   $ 0.001  
Common stock, authorized (in Shares)         200,000,000   200,000,000  
Common stock, par value (in Dollars per share)         $ 0.001   $ 0.001  
Deemed shares (in Shares)         19,383,794      
Value of share issued for services       $ 5,001 $ 10,002 $ 561    
Aggregate fair value of options     $ 51,757          
Dividend rate         0.00%      
Option [Member]                
Stockholders' Deficit (Textual)                
Option, exercise price (in Dollars per share)         $ 0.75      
Remaining stock options will be amortized         $ 52,523      
Advisor [Member] | Four Month Agreement [Member]                
Stockholders' Deficit (Textual)                
Value of common stock issued       $ 6,667 $ 3.00      
Number of share issued for services (in Shares)       1,667        
Share price (in Dollars per share)       $ 3        
Advisor [Member] | Issue Price One [Member] | One Year Agreement [Member]                
Stockholders' Deficit (Textual)                
Value of common stock issued   $ 5,000            
Number of common stock issued (in Shares)   6,667            
Number of share issued for services (in Shares)   1,667            
Share price (in Dollars per share)         $ 3.00      
Value of share issued for services   $ 5,001            
Board of Directors Chairman [Member] | Option [Member]                
Stockholders' Deficit (Textual)                
Share price (in Dollars per share) $ 0.042              
Number of shares purchase for issuance of options (in Shares) 800,000              
Description of options vesting period The options have an exercise price of $0.75 per share which will vest over a 24-month period as follows: 25% (or 200,000 and 50,000, respectively) shall vest six months after the grant date with the remaining options will vest on a monthly basis at a rate of 1/24th per month.              
Option, exercise price (in Dollars per share) $ 0.75              
Vesting period 24 months              
Expiration date Jan. 14, 2029              
Aggregate fair value of options $ 17,111              
Expected life (years) 10 years              
Volatility rate 77.00%              
Risk free interest rate 2.71%              
Dividend rate 0.00%              
Exercise price (in Dollars per share) $ 0.75              
Stock option expense         $ 1,595   $ 10,432  
Mr. Vadim Sakharov [Member]                
Stockholders' Deficit (Textual)                
Number of common stock issued (in Shares) 200,000              
Boris Goldstein [Member] | Option [Member] | Employment Agreement [Member]                
Stockholders' Deficit (Textual)                
Share price (in Dollars per share)     $ 0.12          
Number of shares purchase for issuance of options (in Shares)     800,000          
Option, exercise price (in Dollars per share)     $ 0.75          
Expiration date     Jan. 30, 2030          
Volatility rate     76.00%          
Risk free interest rate     1.57%          
Exercise price (in Dollars per share)     $ 0.75          
Stock option expense         $ 4,319      
Jesse W. Crowne [Member] | Option [Member] | Employment Agreement [Member]                
Stockholders' Deficit (Textual)                
Expected life (years)     10 years          
XML 47 R36.htm IDEA: XBRL DOCUMENT v3.20.2
Stockholders' Deficit (Details) - Schedule of warrant activity - Warrant [Member]
3 Months Ended
Mar. 31, 2020
USD ($)
$ / shares
shares
Class of Warrant or Right [Line Items]  
Warrant outstanding at beginning | shares 502,250
Warrant outstanding at beginning | $ / shares $ 0.57
Warrant outstanding at beginning 3 years 357 days
Warrant outstanding at beginning | $
Granted | $
Forfeited | shares
Forfeited | $ / shares
Forfeited | $
Exercised | shares
Exercised | $ / shares
Exercised | $
Expired | shares
Expired | $ / shares
Expired | $
Warrant outstanding at ending | shares 502,250
Warrant outstanding at ending | $ / shares $ 0.57
Warrant outstanding at ending 3 years 266 days
Warrant exercisable at ending | shares 502,250
Warrant exercisable at ending | $ / shares $ 0.57
Warrant exercisable at ending 3 years 266 days
XML 48 R37.htm IDEA: XBRL DOCUMENT v3.20.2
Stockholders' Deficit (Details) - Schedule of option activity - Options [Member]
3 Months Ended
Mar. 31, 2020
USD ($)
$ / shares
shares
Stockholders' Deficit (Details) - Schedule of option activity [Line Items]  
Option outstanding at beginning (in Shares) | shares 1,000,000
Option outstanding at beginning $ 0.75
Option outstanding at beginning 9 years 18 days
Option outstanding at beginning (in Dollars) | $
Granted (in Shares) | shares 800,000
Granted $ 0.75
Granted 10 years
Granted
Forfeited (in Shares) | shares
Forfeited
Forfeited (in Dollars) | $
Exercised (in Shares) | shares
Exercised
Exercised (in Dollars) | $
Expired (in Shares) | shares
Expired
Expired (in Dollars) | $
Option outstanding at ending (in Shares) | shares 1,800,000
Option outstanding at ending $ 0.75
Option outstanding at ending 9 years 94 days
Option exercisable at ending (in Shares) | shares 818,750
Option exercisable at ending $ 0.75
Option exercisable at ending 8 years 335 days
XML 49 R38.htm IDEA: XBRL DOCUMENT v3.20.2
Commitments and Contingencies (Details)
3 Months Ended
Jan. 02, 2020
USD ($)
Jan. 02, 2020
RUB (₽)
Jun. 01, 2019
USD ($)
Jun. 01, 2019
RUB (₽)
Dec. 01, 2018
USD ($)
Sep. 21, 2018
shares
Mar. 31, 2020
USD ($)
shares
Mar. 31, 2019
USD ($)
Commitments And Contingencies (Textual)                
Monthly rental expense             $ 150  
Short-term leases             3,200  
Lessee, Operating Lease, Description         The lease was renewed on June 1, 2019 for an additional year ending May 31, 2020, for $3,171 per month.      
Rent expense, monthly rent             $ 11,638 $ 22,060
2018 Equity Incentive Plan [Member]                
Commitments And Contingencies (Textual)                
Plan term           The 2018 Plan has a 10-year term, which terminates on the day prior to the 10th anniversary of its adoption by the Board.    
Number of shares reserved for future issuance (in Shares) | shares           3,500,000    
Number options granted (in Shares) | shares             1,800,000  
Number of option outstanding (in Shares) | shares             1,800,000  
Twelve Month Year Agreement Member | Third Party Member                
Commitments And Contingencies (Textual)                
Monthly rental expense $ (227) ₽ 17,900 $ (152)          
10-Month Year Agreement [Member] | Third Party Member                
Commitments And Contingencies (Textual)                
Monthly rental expense | ₽       ₽ 12,000        
Six Month Warehouse Rental Agreement [Member]                
Commitments And Contingencies (Textual)                
Monthly rental expense         $ 2,980      
XML 50 R39.htm IDEA: XBRL DOCUMENT v3.20.2
Restatement (Details) - Schedule of previously reported condensed consolidated balance sheet
Mar. 31, 2020
USD ($)
As Reported [Member]  
Restatement (Details) - Schedule of previously reported condensed consolidated balance sheet [Line Items]  
Convertible notes payable, net $ 565,781
Derivative liabilities
Current liabilities 1,467,171
Total liabilities 1,467,171
Accumulated deficit (4,211,193)
Total stockholders’ deficit 1,419,785
Adjustment [Member]  
Restatement (Details) - Schedule of previously reported condensed consolidated balance sheet [Line Items]  
Convertible notes payable, net (159,299)
Derivative liabilities 571,843
Current liabilities 412,544
Total liabilities 412,544
Accumulated deficit (412,544)
Total stockholders’ deficit (412,544)
As Restated [Member]  
Restatement (Details) - Schedule of previously reported condensed consolidated balance sheet [Line Items]  
Convertible notes payable, net 406,482
Derivative liabilities 571,843
Current liabilities 1,879,715
Total liabilities 1,879,715
Accumulated deficit (4,623,737)
Total stockholders’ deficit $ (1,832,329)
XML 51 R40.htm IDEA: XBRL DOCUMENT v3.20.2
Restatement (Details) - Schedule of previously condensed consolidated statement of operations and comprehensive loss
3 Months Ended
Mar. 31, 2020
USD ($)
$ / shares
As Reported [Member]  
Error Corrections and Prior Period Adjustments Restatement [Line Items]  
Interest expense $ (88,291)
Change in fair market value of derivative liabilities
Net Loss (539,116)
Total comprehensive loss $ (540,169)
Net loss per common share, basic and diluted (in Dollars per share) | $ / shares $ (0.03)
Adjustment [Member]  
Error Corrections and Prior Period Adjustments Restatement [Line Items]  
Interest expense $ (365,325)
Change in fair market value of derivative liabilities (47,219)
Net Loss (412,544)
Total comprehensive loss $ (412,544)
Net loss per common share, basic and diluted (in Dollars per share) | $ / shares $ (0.02)
As Restated [Member]  
Error Corrections and Prior Period Adjustments Restatement [Line Items]  
Interest expense $ (453,616)
Change in fair market value of derivative liabilities (47,219)
Net Loss (951,660)
Total comprehensive loss $ (952,713)
Net loss per common share, basic and diluted (in Dollars per share) | $ / shares $ (0.05)
XML 52 R41.htm IDEA: XBRL DOCUMENT v3.20.2
Subsequent Events (Details) - USD ($)
1 Months Ended 3 Months Ended
Apr. 21, 2020
Mar. 31, 2020
Apr. 22, 2020
Subsequent Event [Member] | Convertible Grid Notes [Member]      
Subsequent Events (Textual)      
Debt instrument, face amount $ 125,000    
Convertible Grid Notes [Member]      
Subsequent Events (Textual)      
Interest rate     12.00%
Maturity Date Description   The unpaid outstanding principal amount and accrued and unpaid interest under the Grid Notes shall be convertible at any time prior to the Maturity Date at the election of the Grid Investors into such number of shares of the Company’s common stock obtained by dividing the amount so converted by $1.00 (the “Conversion Price”).  
Convertible Grid Notes [Member] | Subsequent Event [Member]      
Subsequent Events (Textual)      
Convertible promissory note, description an existing stockholder of the Company, pursuant to which Caleca agreed to advance to the Company the aggregate principal amount of $125,000 (the “Caleca Aggregate Advance”). The Company also issued to Caleca a common stock purchase warrant (the “Caleca Warrant”), granting Caleca the right to purchase up to 750,000 shares of the Company’s common stock at a per share exercise price of $0.80 (subject to adjustment as set forth in the Caleca Warrant).    
Number of common stock issued (in Shares) 750,000    
Common stock exercise price (in Dollars per share) $ 0.80    
convertible promissory notes [Member]      
Subsequent Events (Textual)      
Cash advance     $ 25,000
Grid Investors [Member] | Subsequent Event [Member]      
Subsequent Events (Textual)      
Cash advance     $ 50,000
EXCEL 53 Financial_Report.xlsx IDEA: XBRL DOCUMENT begin 644 Financial_Report.xlsx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

&PO=V]R:W-H965TU !X;"]W;W)K M&UL4$L! A0#% @ ,&&PO=V]R:W-H965T&UL4$L! A0#% @ ,&&PO=V]R:W-H965T M&UL4$L! A0# M% @ ,&&PO=V]R:W-H965T&UL4$L! A0#% @ ,&CUX[4$ !]$0 &0 @(% \ >&PO M=V]R:W-H965T&UL4$L! A0#% @ ,&&PO=V]R:W-H965T7!E&UL4$L%!@ Q #$ 3@T #8- 0 $! end XML 54 Show.js IDEA: XBRL DOCUMENT // Edgar(tm) Renderer was created by staff of the U.S. Securities and Exchange Commission. Data and content created by government employees within the scope of their employment are not subject to domestic copyright protection. 17 U.S.C. 105. var Show={};Show.LastAR=null,Show.showAR=function(a,r,w){if(Show.LastAR)Show.hideAR();var e=a;while(e&&e.nodeName!='TABLE')e=e.nextSibling;if(!e||e.nodeName!='TABLE'){var ref=((window)?w.document:document).getElementById(r);if(ref){e=ref.cloneNode(!0); e.removeAttribute('id');a.parentNode.appendChild(e)}} if(e)e.style.display='block';Show.LastAR=e};Show.hideAR=function(){Show.LastAR.style.display='none'};Show.toggleNext=function(a){var e=a;while(e.nodeName!='DIV')e=e.nextSibling;if(!e.style){}else if(!e.style.display){}else{var d,p_;if(e.style.display=='none'){d='block';p='-'}else{d='none';p='+'} e.style.display=d;if(a.textContent){a.textContent=p+a.textContent.substring(1)}else{a.innerText=p+a.innerText.substring(1)}}} XML 55 report.css IDEA: XBRL DOCUMENT /* Updated 2009-11-04 */ /* v2.2.0.24 */ /* DefRef Styles */ ..report table.authRefData{ background-color: #def; border: 2px solid #2F4497; font-size: 1em; position: absolute; } ..report table.authRefData a { display: block; font-weight: bold; } ..report table.authRefData p { margin-top: 0px; } ..report table.authRefData .hide { background-color: #2F4497; padding: 1px 3px 0px 0px; text-align: right; } ..report table.authRefData .hide a:hover { background-color: #2F4497; } ..report table.authRefData .body { height: 150px; overflow: auto; width: 400px; } ..report table.authRefData table{ font-size: 1em; } /* Report Styles */ ..pl a, .pl a:visited { color: black; text-decoration: none; } /* table */ ..report { background-color: white; border: 2px solid #acf; clear: both; color: black; font: normal 8pt Helvetica, Arial, san-serif; margin-bottom: 2em; } ..report hr { border: 1px solid #acf; } /* Top labels */ ..report th { background-color: #acf; color: black; font-weight: bold; text-align: center; } ..report th.void { background-color: transparent; color: #000000; font: bold 10pt Helvetica, Arial, san-serif; text-align: left; } ..report .pl { text-align: left; vertical-align: top; white-space: normal; width: 200px; white-space: normal; /* word-wrap: break-word; */ } ..report td.pl a.a { cursor: pointer; display: block; width: 200px; overflow: hidden; } ..report td.pl div.a { width: 200px; } ..report td.pl a:hover { background-color: #ffc; } /* Header rows... */ ..report tr.rh { background-color: #acf; color: black; font-weight: bold; } /* Calendars... */ ..report .rc { background-color: #f0f0f0; } /* Even rows... */ ..report .re, .report .reu { background-color: #def; } ..report .reu td { border-bottom: 1px solid black; } /* Odd rows... */ ..report .ro, .report .rou { background-color: white; } ..report .rou td { border-bottom: 1px solid black; } ..report .rou table td, .report .reu table td { border-bottom: 0px solid black; } /* styles for footnote marker */ ..report .fn { white-space: nowrap; } /* styles for numeric types */ ..report .num, .report .nump { text-align: right; white-space: nowrap; } ..report .nump { padding-left: 2em; } ..report .nump { padding: 0px 0.4em 0px 2em; } /* styles for text types */ ..report .text { text-align: left; white-space: normal; } ..report .text .big { margin-bottom: 1em; width: 17em; } ..report .text .more { display: none; } ..report .text .note { font-style: italic; font-weight: bold; } ..report .text .small { width: 10em; } ..report sup { font-style: italic; } ..report .outerFootnotes { font-size: 1em; } XML 56 FilingSummary.xml IDEA: XBRL DOCUMENT 3.20.2 html 124 335 1 false 47 0 false 5 false false R1.htm 000 - Document - Document And Entity Information Sheet http://allsoftgels.com/role/DocumentAndEntityInformation Document And Entity Information Cover 1 false false R2.htm 001 - Statement - Condensed Consolidated Balance Sheets Sheet http://allsoftgels.com/role/ConsolidatedBalanceSheet Condensed Consolidated Balance Sheets Statements 2 false false R3.htm 002 - Statement - Condensed Consolidated Balance Sheets (Parentheticals) Sheet http://allsoftgels.com/role/ConsolidatedBalanceSheet_Parentheticals Condensed Consolidated Balance Sheets (Parentheticals) Statements 3 false false R4.htm 003 - Statement - Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) Sheet http://allsoftgels.com/role/ConsolidatedIncomeStatement Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) Statements 4 false false R5.htm 004 - Statement - Consolidated Statements of Stockholders??? Deficit Sheet http://allsoftgels.com/role/ShareholdersEquityType2or3 Consolidated Statements of Stockholders??? Deficit Statements 5 false false R6.htm 005 - Statement - Condensed Consolidated Statements of Cash Flows (Unaudited) Sheet http://allsoftgels.com/role/ConsolidatedCashFlow Condensed Consolidated Statements of Cash Flows (Unaudited) Statements 6 false false R7.htm 006 - Disclosure - Organization and Nature of Operations Sheet http://allsoftgels.com/role/OrganizationandNatureofOperations Organization and Nature of Operations Notes 7 false false R8.htm 007 - Disclosure - Summary of Significant Accounting Policies Sheet http://allsoftgels.com/role/SummaryofSignificantAccountingPolicies Summary of Significant Accounting Policies Notes 8 false false R9.htm 008 - Disclosure - Going Concern Sheet http://allsoftgels.com/role/GoingConcern Going Concern Notes 9 false false R10.htm 009 - Disclosure - Convertible Notes Payable Notes http://allsoftgels.com/role/ConvertibleNotesPayable Convertible Notes Payable Notes 10 false false R11.htm 010 - Disclosure - Promissory Notes Notes http://allsoftgels.com/role/PromissoryNotes Promissory Notes Notes 11 false false R12.htm 011 - Disclosure - Other Liabilities Sheet http://allsoftgels.com/role/OtherLiabilities Other Liabilities Notes 12 false false R13.htm 012 - Disclosure - Related Party Transactions Sheet http://allsoftgels.com/role/RelatedPartyTransactions Related Party Transactions Notes 13 false false R14.htm 013 - Disclosure - Stockholders' Deficit Sheet http://allsoftgels.com/role/StockholdersDeficit Stockholders' Deficit Notes 14 false false R15.htm 014 - Disclosure - Commitments and Contingencies Sheet http://allsoftgels.com/role/CommitmentsandContingencies Commitments and Contingencies Notes 15 false false R16.htm 015 - Disclosure - Restatement Sheet http://allsoftgels.com/role/Restatement Restatement Notes 16 false false R17.htm 016 - Disclosure - Subsequent Events Sheet http://allsoftgels.com/role/SubsequentEvents Subsequent Events Notes 17 false false R18.htm 017 - Disclosure - Accounting Policies, by Policy (Policies) Sheet http://allsoftgels.com/role/AccountingPoliciesByPolicy Accounting Policies, by Policy (Policies) Policies http://allsoftgels.com/role/SummaryofSignificantAccountingPolicies 18 false false R19.htm 018 - Disclosure - Summary of Significant Accounting Policies (Tables) Sheet http://allsoftgels.com/role/SummaryofSignificantAccountingPoliciesTables Summary of Significant Accounting Policies (Tables) Tables http://allsoftgels.com/role/SummaryofSignificantAccountingPolicies 19 false false R20.htm 019 - Disclosure - Convertible Notes Payable (Tables) Notes http://allsoftgels.com/role/ConvertibleNotesPayableTables Convertible Notes Payable (Tables) Tables http://allsoftgels.com/role/ConvertibleNotesPayable 20 false false R21.htm 020 - Disclosure - Other Liabilities (Tables) Sheet http://allsoftgels.com/role/OtherLiabilitiesTables Other Liabilities (Tables) Tables http://allsoftgels.com/role/OtherLiabilities 21 false false R22.htm 021 - Disclosure - Stockholders' Deficit (Tables) Sheet http://allsoftgels.com/role/StockholdersDeficitTables Stockholders' Deficit (Tables) Tables http://allsoftgels.com/role/StockholdersDeficit 22 false false R23.htm 022 - Disclosure - Restatement (Tables) Sheet http://allsoftgels.com/role/RestatementTables Restatement (Tables) Tables http://allsoftgels.com/role/Restatement 23 false false R24.htm 023 - Disclosure - Organization and Nature of Operations (Details) Sheet http://allsoftgels.com/role/OrganizationandNatureofOperationsDetails Organization and Nature of Operations (Details) Details http://allsoftgels.com/role/OrganizationandNatureofOperations 24 false false R25.htm 024 - Disclosure - Summary of Significant Accounting Policies (Details) Sheet http://allsoftgels.com/role/SummaryofSignificantAccountingPoliciesDetails Summary of Significant Accounting Policies (Details) Details http://allsoftgels.com/role/SummaryofSignificantAccountingPoliciesTables 25 false false R26.htm 025 - Disclosure - Summary of Significant Accounting Policies (Details) - Schedule of financial liabilities measured at fair value Sheet http://allsoftgels.com/role/ScheduleoffinancialliabilitiesmeasuredatfairvalueTable Summary of Significant Accounting Policies (Details) - Schedule of financial liabilities measured at fair value Details http://allsoftgels.com/role/SummaryofSignificantAccountingPoliciesTables 26 false false R27.htm 026 - Disclosure - Going Concern (Details) Sheet http://allsoftgels.com/role/GoingConcernDetails Going Concern (Details) Details http://allsoftgels.com/role/GoingConcern 27 false false R28.htm 027 - Disclosure - Convertible Notes Payable (Details) Notes http://allsoftgels.com/role/ConvertibleNotesPayableDetails Convertible Notes Payable (Details) Details http://allsoftgels.com/role/ConvertibleNotesPayableTables 28 false false R29.htm 028 - Disclosure - Convertible Notes Payable (Details) - Schedule of change in fair value including net transfers Notes http://allsoftgels.com/role/ScheduleofchangeinfairvalueincludingnettransfersTable Convertible Notes Payable (Details) - Schedule of change in fair value including net transfers Details http://allsoftgels.com/role/ConvertibleNotesPayableTables 29 false false R30.htm 029 - Disclosure - Convertible Notes Payable (Details) - Schedule of fair value of conversion features and warrant liabilities Notes http://allsoftgels.com/role/ScheduleoffairvalueofconversionfeaturesandwarrantliabilitiesTable Convertible Notes Payable (Details) - Schedule of fair value of conversion features and warrant liabilities Details http://allsoftgels.com/role/ConvertibleNotesPayableTables 30 false false R31.htm 030 - Disclosure - Promissory Notes (Details) Notes http://allsoftgels.com/role/PromissoryNotesDetails Promissory Notes (Details) Details http://allsoftgels.com/role/PromissoryNotes 31 false false R32.htm 031 - Disclosure - Other Liabilities (Details) Sheet http://allsoftgels.com/role/OtherLiabilitiesDetails Other Liabilities (Details) Details http://allsoftgels.com/role/OtherLiabilitiesTables 32 false false R33.htm 032 - Disclosure - Other Liabilities (Details) - Schedule of future minimum commitments Sheet http://allsoftgels.com/role/ScheduleoffutureminimumcommitmentsTable Other Liabilities (Details) - Schedule of future minimum commitments Details http://allsoftgels.com/role/OtherLiabilitiesTables 33 false false R34.htm 033 - Disclosure - Related Party Transactions (Details) Sheet http://allsoftgels.com/role/RelatedPartyTransactionsDetails Related Party Transactions (Details) Details http://allsoftgels.com/role/RelatedPartyTransactions 34 false false R35.htm 034 - Disclosure - Stockholders' Deficit (Details) Sheet http://allsoftgels.com/role/StockholdersDeficitDetails Stockholders' Deficit (Details) Details http://allsoftgels.com/role/StockholdersDeficitTables 35 false false R36.htm 035 - Disclosure - Stockholders' Deficit (Details) - Schedule of warrant activity Sheet http://allsoftgels.com/role/ScheduleofwarrantactivityTable Stockholders' Deficit (Details) - Schedule of warrant activity Details http://allsoftgels.com/role/StockholdersDeficitTables 36 false false R37.htm 036 - Disclosure - Stockholders' Deficit (Details) - Schedule of option activity Sheet http://allsoftgels.com/role/ScheduleofoptionactivityTable Stockholders' Deficit (Details) - Schedule of option activity Details http://allsoftgels.com/role/StockholdersDeficitTables 37 false false R38.htm 037 - Disclosure - Commitments and Contingencies (Details) Sheet http://allsoftgels.com/role/CommitmentsandContingenciesDetails Commitments and Contingencies (Details) Details http://allsoftgels.com/role/CommitmentsandContingencies 38 false false R39.htm 038 - Disclosure - Restatement (Details) - Schedule of previously reported condensed consolidated balance sheet Sheet http://allsoftgels.com/role/ScheduleofpreviouslyreportedcondensedconsolidatedbalancesheetTable Restatement (Details) - Schedule of previously reported condensed consolidated balance sheet Details http://allsoftgels.com/role/RestatementTables 39 false false R40.htm 039 - Disclosure - Restatement (Details) - Schedule of previously condensed consolidated statement of operations and comprehensive loss Sheet http://allsoftgels.com/role/ScheduleofpreviouslycondensedconsolidatedstatementofoperationsandcomprehensivelossTable Restatement (Details) - Schedule of previously condensed consolidated statement of operations and comprehensive loss Details http://allsoftgels.com/role/RestatementTables 40 false false R41.htm 040 - Disclosure - Subsequent Events (Details) Sheet http://allsoftgels.com/role/SubsequentEventsDetails Subsequent Events (Details) Details http://allsoftgels.com/role/SubsequentEvents 41 false false All Reports Book All Reports brsf-20200331.xml brsf-20200331.xsd brsf-20200331_cal.xml brsf-20200331_def.xml brsf-20200331_lab.xml brsf-20200331_pre.xml http://fasb.org/srt/2020-01-31 http://fasb.org/us-gaap/2020-01-31 http://xbrl.sec.gov/dei/2019-01-31 true true ZIP 58 0001213900-20-026881-xbrl.zip IDEA: XBRL DOCUMENT begin 644 0001213900-20-026881-xbrl.zip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