Ainos (AIMD) 10-Q 13 Aug 18 2018 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Jun. 30, 2018	Aug. 08, 2018
Document Information [Line Items]
Entity Registrant Name	AMARILLO BIOSCIENCES INC
Entity Central Index Key	1,014,763
Trading Symbol	amar
Current Fiscal Year End Date	--12-31
Entity Filer Category	Smaller Reporting Company
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Entity Common Stock, Shares Outstanding (in shares)		34,674,261
Document Type	10-Q
Document Period End Date	Jun. 30, 2018
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q2
Amendment Flag	false

Consolidated Balance Sheets (Cu

Consolidated Balance Sheets (Current Period Unaudited) - USD ($)	Jun. 30, 2018	Dec. 31, 2017
Assets
Cash and cash equivalents	$ 1,393,474	$ 1,980,015
Accounts receivable
Inventory		22,666
Advance to related party		58,135
Prepaid expense and other current assets	64,493	23,635
Total current assets	1,457,967	2,084,451
Patents, net	173,179	182,386
Property and equipment, net	18,389	26,997
Total assets	1,649,535	2,293,834
Liabilities and Stockholders' Deficit
Accounts payable and accrued expenses	188,251	159,300
Advances from investors	301,773	777,258
Convertible notes payable – related party	513,356	886,481
Total current liabilities	1,003,380	1,823,039
Total liabilities	1,003,380	1,823,039
Commitments and contingencies
Stockholders' equity
Preferred stock, $0.01 par value: Authorized shares - 10,000,000, Issued and outstanding shares – 0 at June 30, 2018 and December 31, 2017
Common stock, $0.01 par value: Authorized shares - 100,000,000, Issued and outstanding shares – 34,674,261 and 23,156,563 at June 30, 2018 and December 31, 2017, respectively	346,742	231,565
Additional paid-in capital	2,691,661	2,123,205
Accumulated deficit	(2,450,101)	(1,883,975)
Total Amarillo Bioscience’s Inc. equity	588,302	470,795
Non-controlling interests	57,853
Total stockholders’ equity	646,155	470,795
Total liabilities and stockholders’ equity	$ 1,649,535	$ 2,293,834

Consolidated Balance Sheets (C3

Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares	Jun. 30, 2018	Dec. 31, 2017
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	10,000,000	10,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	100,000,000	100,000,000
Common stock, shares issued (in shares)	34,674,261	23,156,563
Common stock, shares outstanding (in shares)	34,674,261	23,156,563

Consolidated Statements of Oper

Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Revenues	$ 250	$ 250,502	$ 56,840	$ 250,502
Cost of revenues	707	58,801	44,046	58,801
Gross margin	(457)	191,701	12,794	191,701
Operating expenses:
Selling, general and administrative expenses	353,682	176,935	552,991	361,948
Total operating expenses	353,682	176,935	552,991	361,948
Operating income (loss)	(354,139)	14,766	(540,197)	(170,247)
Other income (expense)
Interest expense	(973)	(1,742)	(2,353)	(5,701)
Net income (loss)	(355,112)	13,024	(542,550)	(175,948)
Less: Net loss attributable to non-controlling interests	(23,313)		(18,321)
Net income (loss) attributable to common shareholders	$ (331,799)	$ 13,024	$ (524,229)	$ (175,948)
Basic and diluted net loss per average share available to common shareholders (in dollars per share)	$ (0.01)	$ 0	$ (0.02)	$ (0.01)
Weighted average common shares outstanding – basic and diluted (in shares)	34,635,799	22,431,427	33,943,536	22,353,918

Condensed Consolidated Statemen

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
Net cash used in operating activities:	$ (389,433)	$ (159,588)
Cash flows from investing activities
Investment in patents	(2,108)	(25,786)
Net cash used in investing activities	(2,108)	(25,786)
Cash flows from financing activities
Payments on convertible notes	(195,000)	70,000
Proceeds from private placement offering		50,625
Net cash provided by financing activities	(195,000)	120,625
Net change in cash	(586,541)	(64,749)
Cash and cash equivalents at beginning of period	1,980,015	134,125
Cash and cash equivalents at end of period	1,393,474	69,376
Supplemental Cash Flow Information
Cash paid for interest
Cash paid for income taxes
Non-Cash Transactions
Stock issued for advances from investors	496,736
Conversion of debt to common stock	178,125
Reversal of previously accrued dividend	$ 34,277

Note 1 - Organization and Busin

Note 1 - Organization and Business	6 Months Ended
	Jun. 30, 2018
Notes to Financial Statements
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]	1. Organization and Business. ABI primarily operates through three thirty 1 2

Note 2 - Basis of Presentation

Note 2 - Basis of Presentation	6 Months Ended
	Jun. 30, 2018
Notes to Financial Statements
Basis of Accounting [Text Block]	2. Basis of presentation. 10 December 31, 2017, April 17, 2018, not six three June 30, 2018 not may December 31, 2018.

Note 3 - Principals of Consolid

Note 3 - Principals of Consolidation	6 Months Ended
	Jun. 30, 2018
Notes to Financial Statements
Consolidation [Text Block]	3. Principles of Consolidation . The consolidated financial statements include the accounts of the Company, and ACTS Global which is consolidated under the variable interest entities (“VIE”) provisions of ASC 810, 810” The Company applies the provisions of ASC 810 In general, a VIE is a corporation, partnership, limited-liability corporation, trust, or any other legal structure used to conduct activities or hold assets that either ( 1 2 3 not 4 not ASC 810 A variable interest holder that consolidates the VIE is called the primary beneficiary. If the primary beneficiary of a variable interest entity (VIE) and the VIE are under common control, the primary beneficiary shall initially measure the assets, liabilities, and non-controlling interests of the VIE at amounts at which they are carried in the accounts of the reporting entity that controls the VIE (or would be carried if the reporting entity issued financial statements prepared in conformity with generally accepted accounting principles).

Note 4 - Revenue Recognition

Note 4 - Revenue Recognition	6 Months Ended
	Jun. 30, 2018
Notes to Financial Statements
Revenue from Contract with Customer [Text Block]	4. Revenue Recognition May 2014, 2014 09, Revenue from Contracts with Customers August 2015, March 2016, April 2016, May 2016, December 2016 2015 14, 2016 08, 2016 10, 2016 12 2016 20, five two On January 1, 2018, 606 no no Results for reporting periods beginning after January 1, 2018 606, not 605, The Company's primary source of revenue is the sale of products within three The Medical division currently provides equipment to metabolism treatment centers in Taiwan and Hong Kong. Additionally, this division provides TissueAid TM The Pharmaceutical Division will exploit the Company’s intellectual property and core technology, low-dose oral interferon. Revenue recognized during the six June 30, 2018

Note 5 - Financial Condition

Note 5 - Financial Condition	6 Months Ended
	Jun. 30, 2018
Notes to Financial Statements
Financial Condition [Text Block]	5. Financial Condition. not no The continuing operations of the Company and the recoverability of the carrying value of assets is dependent upon the ability of the Company to obtain necessary financing to fund its working capital requirements, and upon future profitable operations. The accompanying financial statements do not There can be no may may may

Note 6 - Common Stock

Note 6 - Common Stock	6 Months Ended
	Jun. 30, 2018
Notes to Financial Statements
Stockholders' Equity Note Disclosure [Text Block]	6. Common Stock. 100,000,000 June 30, 2018, 40,237,547 34,674,261 2,827,305 two 144,330 2,139,034 On March 10, 2016, 5,000,000 2016 2 $.1875 $937,500 On September 30, 2016, 2016 2 2016 2 10,000,000 $.1875 $1,875,000. one 1 On October 26, 2017, 2016 2 six 6 2016 2 15,000,000 2016 1 $.1875 $2,812,500. During the first 2017, 270,000 $.1875 $50,625. No second 2017. third 2017, 500,000 $.1875 $93,750. 200,000 $.1875 $37,500. During the first 2018, 7,579,059 2016 2 $.1875 September 13, 2017. September 18, 2017 December 18, 2017. first 2018, 1,901,941 2016 3 $.25 April 25, 2018. not April 25, 2018, $721,033 2,884,132 December 26, 2017. 1,901,941 first 2018. July 27, 2018. On April 25, 2018 2016 3 30 $7.5 one 1 On January 9, 2018, 76,499 10,199 fourth 2017, $21,250. $.2451 December 20, 2016. December 31, 2017. On February 9, 2018, 1,000,000 $187,500 March 18, 2016, April 7, 2016, $.1875 On April 1, 2018, $178,125 950,000 $.1875

Note 7 - Convertible Notes Paya

Note 7 - Convertible Notes Payable - Related Party	6 Months Ended
	Jun. 30, 2018
Notes to Financial Statements
Debt Disclosure [Text Block]	7. Convertible Notes Payable – Related Party. December 31, 2017, $886,481. five January 8, 2018, $25,000 $25,000, $83. On March 8, 2018, $70,000 $70,000, $425. March 9, 2018, $384,555. $100,000 $100,000, $3,259.61. On April 1, 2018, $178,125 $284,555 April 2, 2018, April 6, 2018, 550,000 400,000 $.1875 $106,430. June 30, 2018 December 31, 2017 Convertible Note payable – related party $ 144,426 $ 144,426 Convertible Note payable – related party 262,500 262,500 Convertible Note payable – related party 106,430 384,555 Convertible Note payable – related party - 70,000 Convertible Note payable – related party - 25,000 Convertible Notes payable – related party $ 513,356 $ 886,481

Note 8 - Warrants

Note 8 - Warrants	6 Months Ended
	Jun. 30, 2018
Notes to Financial Statements
Warrant Disclosure [Text Block]	8. Warrants . On April 15, 2018, 452,617 $.27 April 14, 2020. $75,967 twenty four $8,773 three June 30, 2018.

Note 9 - Variable Interest Enti

Note 9 - Variable Interest Entity	6 Months Ended
	Jun. 30, 2018
Notes to Financial Statements
Variable Interest Entity Disclosure [Text Block]	9. Variable Interest Entity . On May 23, 2016, $179,468, may may one 1% Since the inception of the Agency Agreement in 2016, no January 1, 2018 On June 18, 2018, July 30, 2018, not 539,447 not July 30, 2018, The carrying amounts and classification of ACTS Global assets and liabilities included in the Company’s unaudited condensed consolidated balance sheets are as follows: June 30 , 2018 Current assets $ 71,055 Total assets $ 71,055 Current liabilities $ 13,201 Total liabilities $ 13,201 The amounts shown in the table above exclude intercompany balances that are eliminated upon consolidation. All of the assets in the table above are restricted for settlement of the ACTS Global obligations, and all of the liabilities in the table above can only be settled by using ACTS Global resources.

Note 10 - Related Party

Note 10 - Related Party	6 Months Ended
	Jun. 30, 2018
Notes to Financial Statements
Related Party Transactions Disclosure [Text Block]	10. Related Party. On February 9, 2018, 1,000,000 $187,500 March 18, 2016, April 7, 2016, $.1875 On March 27, 2018, January 1, 2018, $240,000 $100,000 $70,000 $12,000 15th 31st first June 30, 2018, 86,698 $21,250 fourth 2017 June 30, 2018, $56,000 first second 2018 not On April 1, 2018, $178,125 $284,555

Note 11 - Subsequent Events

Note 11 - Subsequent Events	6 Months Ended
	Jun. 30, 2018
Notes to Financial Statements
Subsequent Events [Text Block]	11. Subsequent Events . On July 27, 2018, four 6 5. 1,839,034 2016 3 $.25 July 27, 2018, April 25, 2018. December 26, 2017 On July 30, 2018, 539,447 four

Note 7 - Convertible Notes Pa17

Note 7 - Convertible Notes Payable - Related Party (Tables)	6 Months Ended
	Jun. 30, 2018
Notes Tables
Schedule of Related Party Transactions [Table Text Block]	June 30, 2018 December 31, 2017 Convertible Note payable – related party $ 144,426 $ 144,426 Convertible Note payable – related party 262,500 262,500 Convertible Note payable – related party 106,430 384,555 Convertible Note payable – related party - 70,000 Convertible Note payable – related party - 25,000 Convertible Notes payable – related party $ 513,356 $ 886,481

Note 9 - Variable Interest En18

Note 9 - Variable Interest Entity (Tables)	6 Months Ended
	Jun. 30, 2018
Notes Tables
Schedule of Variable Interest Entities [Table Text Block]	June 30 , 2018 Current assets $ 71,055 Total assets $ 71,055 Current liabilities $ 13,201 Total liabilities $ 13,201

Note 4 - Revenue Recognition (D

Note 4 - Revenue Recognition (Details Textual)	6 Months Ended
	Jun. 30, 2018
Number of Operating Segments	3

Note 6 - Common Stock (Details

Note 6 - Common Stock (Details Textual) - USD ($)	Apr. 25, 2018	Apr. 06, 2018	Apr. 02, 2018	Apr. 01, 2018	Feb. 09, 2018	Jan. 09, 2018	Oct. 26, 2017	Sep. 30, 2016	Mar. 10, 2016	Mar. 31, 2018	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Jun. 30, 2018	Jun. 30, 2017	Dec. 31, 2017	Dec. 26, 2017
Common Stock, Shares Authorized														100,000,000		100,000,000
Common Stock, Shares Outstanding and Reserved														40,237,547
Common Stock, Shares, Issued, Total														34,674,261		23,156,563
Common Stock, Shares Subscribed but Unissued														2,827,305
Shares Authorized During Period, Private Placement							15,000,000	10,000,000	5,000,000
Amount of Private Placement							$ 2,812,500	$ 1,875,000	$ 937,500
Proceeds from Issuance of Private Placement											$ 93,750		$ 50,625		$ 50,625
Debt Conversion, Original Debt, Amount														$ 178,125
Chief Executive Officer [Member]
Stock Issued During Period, Shares, New Issues					1,000,000
Shares Issued, Price Per Share		$ 0.1875	$ 0.1875	$ 0.1875	$ 0.1875
Common Stock, Value, Subscriptions					$ 187,500
Debt Conversion, Original Debt, Amount				$ 178,125
Debt Conversion, Converted Instrument, Shares Issued		400,000	550,000	950,000
Private Placement [Member]
Common Stock, Capital Shares Reserved for Future Issuance														2,139,034
Shares Authorized During Period, Private Placement	30,000,000
Sale of Stock, Price Per Share							$ 0.1875	$ 0.1875	$ 0.1875
Amount of Private Placement	$ 7,500,000
Stock Issued During Period, Shares, New Issues											500,000	0	270,000
Shares Issued, Price Per Share											$ 0.1875		$ 0.1875
Private Placement 2016-2 [Member]
Stock Issued During Period, Shares, New Issues										7,579,059
Shares Issued, Price Per Share										$ 0.1875
Private Placement 2016-3 [Member]
Stock Issued During Period, Shares, New Issues										1,901,941
Shares Issued, Price Per Share										$ 0.25
Subscription Agreement [Member]
Common Stock, Shares Subscribed but Unissued																	2,884,132
Stock Issued During Period, Shares, New Issues										1,901,941
Common Stock, Value, Subscriptions																	$ 721,033
Officer [Member]
Common Stock, Capital Shares Reserved for Future Issuance														144,330
Chief Executive Officer [Member]
Proceeds from Issuance of Private Placement											$ 37,500
Deferred Compensation Arrangement with Individual, Shares Issued						76,499
Chief Executive Officer [Member] | Private Placement [Member]
Stock Issued During Period, Shares, New Issues											200,000
Shares Issued, Price Per Share											$ 0.1875
Chief Financial Officer [Member]
Deferred Compensation Arrangement with Individual, Shares Issued						10,199
CEO and CFO [Member]
Shares Issued, Price Per Share						$ 0.2451
Deferred Compensation Arrangement with Individual, Fair Value of Shares Issued						$ 21,250

Note 7 - Convertible Notes Pa21

Note 7 - Convertible Notes Payable - Related Party (Details Textual) - USD ($)	Apr. 06, 2018	Apr. 02, 2018	Apr. 01, 2018	Mar. 09, 2018	Mar. 08, 2018	Jan. 18, 2018	Jun. 30, 2018	Mar. 31, 2018	Feb. 09, 2018	Jan. 08, 2018	Dec. 31, 2017
Notes Payable, Convertible, Related Parties, Classified Current							$ 513,356				$ 886,481
Chief Executive Officer [Member]
Notes Payable, Convertible, Related Parties, Classified Current					$ 384,555		513,356			$ 25,000	886,481
Repayments of Related Party Debt				$ 100,000	70,000	$ 25,000
Interest Paid, Including Capitalized Interest, Operating and Investing Activities, Total				$ 3,259.61	$ 425	$ 83
Debt Conversion, Converted Instrument, Amount			$ 178,125
Debt Conversion, Converted Instrument, Shares Issued	400,000	550,000	950,000
Shares Issued, Price Per Share	$ 0.1875	$ 0.1875	$ 0.1875						$ 0.1875
Chief Executive Officer [Member] | Third Issuance [Member]
Notes Payable, Convertible, Related Parties, Classified Current			$ 106,430				$ 106,430	$ 284,555			$ 384,555

Note 7 - Convertible Notes Pa22

Note 7 - Convertible Notes Payable - Related Party - Related Party Transactions, Convertible Notes Payable (Details) - USD ($)	Jun. 30, 2018	Apr. 01, 2018	Mar. 31, 2018	Mar. 08, 2018	Jan. 08, 2018	Dec. 31, 2017
Convertible Note payable – related party	$ 513,356					$ 886,481
Chief Executive Officer [Member]
Convertible Note payable – related party	513,356			$ 384,555	$ 25,000	886,481
Chief Executive Officer [Member] | First Issuance [Member]
Convertible Note payable – related party	144,426					144,426
Chief Executive Officer [Member] | Second Issuance [Member]
Convertible Note payable – related party	262,500					262,500
Chief Executive Officer [Member] | Third Issuance [Member]
Convertible Note payable – related party	106,430	$ 106,430	$ 284,555			384,555
Chief Executive Officer [Member] | Fourth Issuance [Member]
Convertible Note payable – related party						70,000
Chief Executive Officer [Member] | Fifth Issuance [Member]
Convertible Note payable – related party						$ 25,000

Note 8 - Warrants (Details Text

Note 8 - Warrants (Details Textual) - Warrants Issued to Consultants [Member] - USD ($)	3 Months Ended
	Jun. 30, 2018	Apr. 15, 2018
Class of Warrant or Right, Number of Securities Called by Warrants or Rights		452,617
Class of Warrant or Right, Exercise Price of Warrants or Rights		$ 0.27
Warrants and Rights Outstanding		$ 75,967
Warrants and Rights Outstanding, Term		2 years
Issuance of Stock and Warrants for Services or Claims	$ 8,773

Note 9 - Variable Interest En24

Note 9 - Variable Interest Entity (Details Textual) - Variable Interest Entity, Primary Beneficiary [Member] - ACTS Global Healthcare, Inc. [Member] - USD ($)	Jul. 30, 2018	Jun. 30, 2018
Variable Interest Entity, Financial or Other Support, Amount		$ 179,468
Percentage to be Paid to Affiliate for Services Rendered		1.00%
Subsequent Event [Member]
Variable Interest Entity, Acquisition of Assets, Consideration, Number of Restricted Common Shares	539,447

Note 9 - Variable Interest En25

Note 9 - Variable Interest Entity - Carrying Amounts (Details) - Variable Interest Entity, Primary Beneficiary [Member]	Jun. 30, 2018USD ($)
Current assets	$ 71,055
Total assets	71,055
Current liabilities	13,201
Total liabilities	$ 13,201

Note 10 - Related Party (Detail

Note 10 - Related Party (Details Textual) - USD ($)	Apr. 01, 2018	Feb. 09, 2018	Jan. 01, 2018	Jun. 30, 2018	Jun. 30, 2017	Apr. 06, 2018	Apr. 02, 2018	Mar. 31, 2018	Mar. 08, 2018	Jan. 08, 2018	Dec. 31, 2017
Debt Conversion, Original Debt, Amount				$ 178,125
Notes Payable, Convertible, Related Parties, Classified Current				513,356							$ 886,481
Chief Executive Officer [Member]
Stock Issued During Period, Shares, New Issues		1,000,000
Common Stock, Value, Subscriptions		$ 187,500
Shares Issued, Price Per Share	$ 0.1875	$ 0.1875				$ 0.1875	$ 0.1875
Officer Compensation, Annual Compensation, Cash			$ 240,000
Officer Compensation, Annual Compensation, Share Value			100,000
Debt Conversion, Original Debt, Amount	$ 178,125
Notes Payable, Convertible, Related Parties, Classified Current				513,356					$ 384,555	$ 25,000	886,481
Chief Executive Officer [Member] | Third Issuance [Member]
Notes Payable, Convertible, Related Parties, Classified Current	$ 106,430			$ 106,430				$ 284,555			$ 384,555
Chief Financial Officer [Member]
Officer Compensation, Annual Compensation, Cash			70,000
Officer Compensation, Annual Compensation, Share Value			$ 12,000
CEO and CFO [Member]
Stock Issued During Period, Shares, Share-based Compensation, Gross				86,698
Stock Issued During Period, Value, Share-based Compensation, Gross				$ 21,250
CEO and CFO [Member] | Accounts Payable and Accrued Liabilities [Member]
Accrued Employee Benefits, Current				$ 56,000

Note 11 - Subsequent Events (De

Note 11 - Subsequent Events (Details Textual) - $ / shares	Jul. 30, 2018	Jul. 27, 2018	Mar. 31, 2018
Subsequent Event [Member] | Variable Interest Entity, Primary Beneficiary [Member] | ACTS Global Healthcare, Inc. [Member]
Variable Interest Entity, Acquisition of Assets, Consideration, Number of Restricted Common Shares	539,447
Private Placement 2016-3 [Member]
Stock Issued During Period, Shares, New Issues			1,901,941
Shares Issued, Price Per Share			$ 0.25
Private Placement 2016-3 [Member] | Subsequent Event [Member]
Stock Issued During Period, Shares, New Issues		1,839,034
Shares Issued, Price Per Share		$ 0.25