Ainos (AIMD) 10-Q 15 May 20 2020 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	Mar. 31, 2020	May 15, 2020
Document Information [Line Items]
Entity Registrant Name	AMARILLO BIOSCIENCES INC
Entity Central Index Key	0001014763
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Current Reporting Status	Yes
Entity Emerging Growth Company	false
Entity Small Business	true
Entity Interactive Data Current	Yes
Entity Common Stock, Shares Outstanding (in shares)		40,516,351
Entity Shell Company	false
Document Type	10-Q
Document Period End Date	Mar. 31, 2020
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q1
Amendment Flag	false

Balance Sheets (Current Period

Balance Sheets (Current Period Unaudited) - USD ($)	Mar. 31, 2020	Dec. 31, 2019
Assets
Cash and cash equivalents	$ 289,557	$ 409,039
Accounts receivable	12,578
Inventory	4,071	4,131
Prepaid expense and other current assets	25,658	32,124
Total current assets	331,864	445,294
Patents, net	143,130	146,263
Property and equipment, net	4,486	5,069
Total assets	479,480	596,626
Liabilities and Stockholders' Equity (Deficit)
Accounts payable and accrued expenses	300,393	208,727
Advances from investors	100,000	100,000
Convertible notes payable – related party	512,464	444,581
Total current liabilities	912,857	753,308
Total liabilities	912,857	753,308
Stockholders' equity (deficit)
Preferred stock, $0.01 par value: Authorized shares - 10,000,000, Issued and outstanding shares – 0 at March 31, 2020 and December 31, 2019
Common stock, $0.01 par value: Authorized shares - 100,000,000, Issued and outstanding shares –40,516,351 and 40,516,351 at March 31, 2020 and December 31, 2019, respectively	405,164	405,164
Additional paid-in capital	4,307,970	4,207,786
Accumulated deficit	(5,146,511)	(4,769,632)
Total stockholders’ equity (deficit)	(433,377)	(156,682)
Total liabilities and stockholders’ equity (deficit)	$ 479,480	$ 596,626

Balance Sheets (Current Perio_2

Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares	Mar. 31, 2020	Dec. 31, 2019
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)	40,516,351	40,516,351
Common stock, shares outstanding (in shares)	40,516,351	40,516,351

Statements of Operations (Unaud

Statements of Operations (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Revenues	$ 15,200	$ 4,076
Cost of revenues	(10,806)	(2,718)
Gross margin	4,394	1,358
Operating expenses:
Research and development expenses	0	2,386
Selling, general and administrative expenses	380,268	389,476
Total operating expenses	380,268	391,862
Operating loss	(375,874)	(390,504)
Other income (expense):
Interest expense, net	(1,005)	(885)
Net loss	(376,879)	(391,389)
Less: Net Income attributable to non-controlling interests
Net loss attributable to common shareholders	$ (376,879)	$ (391,389)
Basic and diluted net loss per average share available to common shareholders (in dollars per share)	$ (0.01)	$ (0.01)
Weighted average common shares outstanding – basic and diluted (in shares)	40,516,351	39,262,668

Statements of Stockholders' Equ

Statements of Stockholders' Equity (Deficit) (Unaudited) - USD ($)	Preferred Stock [Member]	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Total
Balance (in shares) at Dec. 31, 2018		39,117,524
Balance at Dec. 31, 2018		$ 391,175	$ 3,527,238	$ (3,188,334)	$ 730,079
Issuance of stock for compensation (in shares)		136,000
Issuance of stock for compensation		$ 1,360	32,640		34,000
Issuance of stock for cash		3,150	70,600		73,750
Warrant expense			9,496		9,496
Option expense			96,149		96,149
Net loss				(391,389)	(391,389)
Issuance of stock (in shares)		315,000
Balance (in shares) at Mar. 31, 2019		39,568,524
Balance at Mar. 31, 2019		$ 395,685	3,736,123	(3,579,723)	552,085
Balance (in shares) at Dec. 31, 2019		40,516,351
Balance at Dec. 31, 2019		$ 405,164	4,207,786	(4,769,632)	(156,682)
Issuance of stock for compensation (in shares)
Issuance of stock for compensation
Issuance of stock for cash
Issuance of stock for debt (in shares)
Issuance of stock for debt
Warrant expense			9,496		9,496
Option expense			90,688		90,688
Net loss				(376,879)	(376,879)
Balance (in shares) at Mar. 31, 2020		40,516,351
Balance at Mar. 31, 2020		$ 405,164	$ 4,307,970	$ (5,146,511)	$ (433,377)

Statements of Cash Flows (Unaud

Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Net cash used in operating activities	$ (119,482)	$ (216,202)
Cash flows from investing activities
Investment in equipment		(1,638)
Investment in patents
Net cash used in investing activities		(1,638)
Cash flows from financing activities
Payments on convertible notes		(37,500)
Proceeds from private placement offering		25,000
Net cash used in financing activities		(12,500)
Net change in cash	(119,482)	(230,340)
Cash and cash equivalents at beginning of period	409,039	1,276,654
Cash and cash equivalents at end of period	289,557	1,046,314
Supplemental Cash Flow Information
Cash paid for interest		69
Cash paid for income taxes
Non-Cash Transactions
Stock issued for accrued liabilities		$ 82,750

Note 1 - Organization and Busin

Note 1 - Organization and Business	3 Months Ended
	Mar. 31, 2020
Notes to Financial Statements
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]	1. Organization and Business. 1984. 2. ABI primarily operates through three 1 2

Note 3 - Basis of Presentation

Note 3 - Basis of Presentation	3 Months Ended
	Mar. 31, 2020
Notes to Financial Statements
Basis of Accounting [Text Block]	3. Basis of presentation. 10 December 31, 2019, March 30, 2020, not three March 31, 2020 not may December 31, 2020.

Note 4 - Financial Condition

Note 4 - Financial Condition	3 Months Ended
	Mar. 31, 2020
Notes to Financial Statements
Financial Condition [Text Block]	4. 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 5 - Common Stock

Note 5 - Common Stock	3 Months Ended
	Mar. 31, 2020
Notes to Financial Statements
Stockholders' Equity Note Disclosure [Text Block]	5. Common Stock. 100,000,000 March 31, 2020, 49,969,579 40,516,351 3,529,417 two 333,912 one 6,309 400,000 73,973 4,657,000 452,617 We have not no

Note 6 - Convertible Notes Paya

Note 6 - Convertible Notes Payable - Related Party	3 Months Ended
	Mar. 31, 2020
Notes to Financial Statements
Debt Disclosure [Text Block]	6. Convertible Notes Payable – Related Party. December 31, 2019, $452,040. March 31, 2020, $521,115. i2China, Note #. Conversion Rate Interest Rate March 31, 2020 December 31, 2019 Note 1 - Chen $0.1680 0.75% $ 117,644 $ 117,433 Note 2 - Chen $0.1875 0.65% $ 266,702 $ 266,281 Note 3.19 - Chen $0.2500 1.85% $ 39,801 $ 39,620 Note 4.19 - Chen $0.2500 1.61% $ 12,502 $ 12,453 Note 5.19 – i2China $0.2500 1.85% $ 16,326 $ 16,253 Note 6.20 - Chen $0.2500 1.85% $ 54,315 $ - Note 7.20 - Chen $0.2500 1.60% 1,789 $ - Note 8.20 – i2China $0.2500 1.85% $ 12,036 $ - Total Convertible Notes – Related Party $ 521,115 $ 452,040 As previously stated, Dr. Stephen T. Chen, Chairman, CEO, President, and CFO, and i2China On January 1, 2020, #6.20 $216,600, 2020. January 1, 2021, 1 1.85%. $216,600 may $9,025 15th may $0.25 144 1933. may 1 On January 1, 2020, #7.20 $30,000, January 1, 2021, 1 1.85%. $30,000 may may $0.25 144 1933. may On January 1, 2020, #8.20 i2China $48,000, 2020. January 1, 2021, 1 1.85%. $48,000 may $4,000 may $0.25 The notes are unsecured and are due on demand. All shares issued on conversion are to be restricted subject to Rule 144 1933. may

Note 7 - Other Related Party Tr

Note 7 - Other Related Party Transactions	3 Months Ended
	Mar. 31, 2020
Notes to Financial Statements
Related Party Transactions Disclosure [Text Block]	7. Other Related Party Transactions. no January 1, 2020 March 31, 2020.

Note 8 - Subsequent Events

Note 8 - Subsequent Events	3 Months Ended
	Mar. 31, 2020
Notes to Financial Statements
Subsequent Events [Text Block]	8. Subsequent Events Subsequent to the Balance Sheet date of March 31, 2020, 452,617 i2China April 15, 2018, 5:00 April 14, 2020. May 3, 2018, April 15, 2018, i2Management No

Note 6 - Convertible Notes Pa_2

Note 6 - Convertible Notes Payable - Related Party (Tables)	3 Months Ended
	Mar. 31, 2020
Notes Tables
Convertible Debt [Table Text Block]	Note #. Conversion Rate Interest Rate March 31, 2020 December 31, 2019 Note 1 - Chen $0.1680 0.75% $ 117,644 $ 117,433 Note 2 - Chen $0.1875 0.65% $ 266,702 $ 266,281 Note 3.19 - Chen $0.2500 1.85% $ 39,801 $ 39,620 Note 4.19 - Chen $0.2500 1.61% $ 12,502 $ 12,453 Note 5.19 – i2China $0.2500 1.85% $ 16,326 $ 16,253 Note 6.20 - Chen $0.2500 1.85% $ 54,315 $ - Note 7.20 - Chen $0.2500 1.60% 1,789 $ - Note 8.20 – i2China $0.2500 1.85% $ 12,036 $ - Total Convertible Notes – Related Party $ 521,115 $ 452,040

Note 1 - Organization and Bus_2

Note 1 - Organization and Business (Details Textual)	3 Months Ended
	Mar. 31, 2020
Number of Operating Segments	3

Note 5 - Common Stock (Details

Note 5 - Common Stock (Details Textual) - shares	Mar. 31, 2020	Dec. 31, 2019
Common Stock, Shares Authorized (in shares)	100,000,000	100,000,000
Common Stock, Shares Outstanding and Reserved (in shares)	49,969,579
Common Stock, Shares, Issued, Total (in shares)	40,516,351	40,516,351
Options [Member]
Common Stock, Capital Shares Reserved for Future Issuance (in shares)	4,657,000
Officer [Member]
Common Stock, Capital Shares Reserved for Future Issuance (in shares)	333,912
Employees [Member]
Common Stock, Capital Shares Reserved for Future Issuance (in shares)	6,309
One of the Investors [Member]
Common Stock, Capital Shares Reserved for Future Issuance (in shares)	400,000
Consultants [Member]
Common Stock, Capital Shares Reserved for Future Issuance (in shares)	73,973
Convertible Debt Securities [Member]
Common Stock, Capital Shares Reserved for Future Issuance (in shares)	3,529,417
Warrant [Member]
Common Stock, Capital Shares Reserved for Future Issuance (in shares)	452,617

Note 6 - Convertible Notes Pa_3

Note 6 - Convertible Notes Payable - Related Party (Details Textual) - USD ($)	Mar. 31, 2020	Jan. 01, 2020	Dec. 31, 2019
Notes Payable, Convertible, Related Parties, Classified Current	$ 512,464		$ 444,581
Convertible Notes Payable, Total	521,115		452,040
Convertible Note Payable Number 8.20 [Member] | i2China Mgt LLC [Member]
Convertible Notes Payable, Total		$ 48,000
Debt Instrument, Interest Rate, Stated Percentage		1.85%
Convertible Notes Payable, Monthly Advance Payment, Maximum		$ 4,000
Debt Instrument, Convertible, Conversion Price (in dollars per share)		$ 0.25
Stephen Chen and I2 China [Member]
Notes Payable, Convertible, Related Parties, Classified Current	521,115		452,040
Stephen Chen [Member] | Convertible Note Payable Number 6.20 [Member]
Convertible Notes Payable, Total	$ 54,315	$ 216,600
Debt Instrument, Interest Rate, Stated Percentage	1.85%	1.85%
Convertible Notes Payable, Monthly Advance Payment, Maximum		$ 9,025
Debt Instrument, Convertible, Conversion Price (in dollars per share)	$ 0.25	$ 0.25
Stephen Chen [Member] | Convertible Note Payable Number 7.20 [Member]
Convertible Notes Payable, Total	$ 1,789	$ 30,000
Debt Instrument, Interest Rate, Stated Percentage	1.60%	1.85%
Debt Instrument, Convertible, Conversion Price (in dollars per share)	$ 0.25	$ 0.25
Stephen Chen [Member] | Convertible Note Payable Number 8.20 [Member]
Convertible Notes Payable, Total	$ 12,036
Debt Instrument, Interest Rate, Stated Percentage	1.85%
Debt Instrument, Convertible, Conversion Price (in dollars per share)	$ 0.25

Note 6 - Convertible Notes Pa_4

Note 6 - Convertible Notes Payable - Related Party - Convertible Notes Payable, Outstanding (Details) - USD ($)	Mar. 31, 2020	Jan. 01, 2020	Dec. 31, 2019
Convertible note payable	$ 521,115		$ 452,040
Convertible Note Payable Number One [Member] | Stephen Chen [Member]
Conversion rate (in dollars per share)	$ 0.168
Interest rate	0.75%
Convertible note payable	$ 117,644		117,433
Convertible Note Payable Number Two [Member] | Stephen Chen [Member]
Conversion rate (in dollars per share)	$ 0.1875
Interest rate	0.65%
Convertible note payable	$ 266,702		266,281
Convertible Note Payable Number 3.19 [Member] | Stephen Chen [Member]
Conversion rate (in dollars per share)	$ 0.25
Interest rate	1.85%
Convertible note payable	$ 39,801		39,620
Convertible Note Payable Number 4.19 [Member] | Stephen Chen [Member]
Conversion rate (in dollars per share)	$ 0.25
Interest rate	1.61%
Convertible note payable	$ 12,502		12,453
Convertible Note Payable Number 5.19 [Member] | i2China Mgt LLC [Member]
Conversion rate (in dollars per share)	$ 0.25
Interest rate	1.85%
Convertible note payable	$ 16,326		16,253
Convertible Note Payable Number 6.20 [Member] | Stephen Chen [Member]
Conversion rate (in dollars per share)	$ 0.25	$ 0.25
Interest rate	1.85%	1.85%
Convertible note payable	$ 54,315	$ 216,600
Convertible Note Payable Number 7.20 [Member] | Stephen Chen [Member]
Conversion rate (in dollars per share)	$ 0.25	$ 0.25
Interest rate	1.60%	1.85%
Convertible note payable	$ 1,789	$ 30,000
Convertible Note Payable Number 8.20 [Member] | i2China Mgt LLC [Member]
Conversion rate (in dollars per share)		$ 0.25
Interest rate		1.85%
Convertible note payable		$ 48,000
Convertible Note Payable Number 8.20 [Member] | Stephen Chen [Member]
Conversion rate (in dollars per share)	$ 0.25
Interest rate	1.85%
Convertible note payable	$ 12,036

Note 8 - Subsequent Events (Det

Note 8 - Subsequent Events (Details Textual)	Apr. 14, 2020shares
i2China Mgt LLC [Member] | Subsequent Event [Member]
Class Of Warrants Cancelled Expired In Period (in shares)	452,617