Ainos (AIMD) 10-Q 13 Nov 20 2020 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Sep. 30, 2020	Nov. 13, 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)		41,016,351
Entity Shell Company	false
Document Type	10-Q
Document Period End Date	Sep. 30, 2020
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q3
Amendment Flag	false

Balance Sheets (Current Period

Balance Sheets (Current Period Unaudited) - USD ($)	Sep. 30, 2020	Dec. 31, 2019
Assets
Cash and cash equivalents	$ 83,767	$ 409,039
Accounts receivable	751
Inventory	3,452	4,131
Prepaid expense and other current assets	69,960	32,125
Total current assets	157,930	445,295
Patents, net	139,774	146,263
Property and equipment, net	3,576	5,068
Total assets	301,280	596,626
Liabilities and Stockholders' Equity (Deficit)
Accounts payable and accrued expenses	359,996	208,727
Advances from investors	85,000	100,000
Convertible notes payable – related party	632,814	444,581
Total current liabilities	1,077,810	753,308
Total liabilities	1,077,810	753,308
Stockholders' equity (deficit)
Preferred stock, $0.01 par value: Authorized shares - 10,000,000, Issued and outstanding shares – 0 at September 30, 2020 and December 31, 2019
Common stock, $0.01 par value: Authorized shares - 100,000,000, Issued and outstanding shares –40,916,351 and 40,516,351 at September 30, 2020 and December 31, 2019, respectively	409,164	405,164
Additional paid-in capital	4,586,068	4,207,786
Accumulated deficit	(5,771,762)	(4,769,632)
Total stockholders’ equity (deficit)	(776,530)	(156,682)
Total liabilities and stockholders’ equity (deficit)	$ 301,280	$ 596,626

Balance Sheets (Current Perio_2

Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares	Sep. 30, 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)	40,916,351	40,516,351
Common stock, shares outstanding (in shares)	40,916,351	40,516,351

Statements of Operations (Unaud

Statements of Operations (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Revenues	$ 192	$ 4,786	$ 15,876	$ 9,468
Cost of revenues	(123)	(3,368)	(11,221)	(6,649)
Gross margin	69	1,418	4,655	2,819
Operating expenses:
Research and development expenses			389	52,510
Selling, general and administrative expenses	321,153	366,824	1,001,893	1,161,317
Total operating expenses	(321,153)	(366,824)	(1,002,282)	(1,213,827)
Operating income (loss)	(321,084)	(365,406)	(997,627)	(1,211,008)
Other income (expense)
Interest income (expense), net	(2,201)	(809)	(4,503)	(172)
Net income (loss)	$ (323,285)	$ (366,215)	$ (1,002,130)	$ (1,211,180)
Basic and diluted net loss per average share available to common shareholders (in dollars per share)	$ (0.01)	$ (0.01)	$ (0.02)	$ (0.03)
Weighted average common shares outstanding – basic and diluted (in shares)	40,516,351	40,156,334	40,620,055	39,684,743

Statements of Stockholders' Equ

Statements of Stockholders' Equity (Deficit) (Unaudited) - USD ($)	i2China Mgt LLC [Member]Preferred Stock [Member]	i2China Mgt LLC [Member]Common Stock [Member]	i2China Mgt LLC [Member]Additional Paid-in Capital [Member]	i2China Mgt LLC [Member]Retained Earnings [Member]	i2China Mgt LLC [Member]	Dr. Stephen T. Chen, and Bernard Cohen [Member]Preferred Stock [Member]	Dr. Stephen T. Chen, and Bernard Cohen [Member]Common Stock [Member]	Dr. Stephen T. Chen, and Bernard Cohen [Member]Additional Paid-in Capital [Member]	Dr. Stephen T. Chen, and Bernard Cohen [Member]Retained Earnings [Member]	Dr. Stephen T. Chen, and Bernard Cohen [Member]	Assyrea Ltd [Member]Assyrea Ltd [Member]Preferred Stock [Member]	Assyrea Ltd [Member]Assyrea Ltd [Member]Common Stock [Member]	Assyrea Ltd [Member]Assyrea Ltd [Member]Additional Paid-in Capital [Member]	Assyrea Ltd [Member]Assyrea Ltd [Member]Retained Earnings [Member]	Assyrea Ltd [Member]Assyrea Ltd [Member]	Hen Vai Wu [Member]Hen Vai Wu [Member]Preferred Stock [Member]	Hen Vai Wu [Member]Hen Vai Wu [Member]Common Stock [Member]	Hen Vai Wu [Member]Hen Vai Wu [Member]Additional Paid-in Capital [Member]	Hen Vai Wu [Member]Hen Vai Wu [Member]Retained Earnings [Member]	Hen Vai Wu [Member]Hen Vai Wu [Member]	Hen Vai Wu [Member]Preferred Stock [Member]	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)		40,170					191,505
Issuance of stock for compensation		$ 401.70	$ 11,598		$ 12,000		$ 1,915.05	$ 55,585		$ 57,500
Issuance of stock for debt (in shares)																							552,152
Issuance of stock for debt																							$ 5,522	94,478		100,000
Warrant expense																								28,488		28,488
Option expense																								288,447		288,447
Net loss																									(1,211,180)	(1,211,180)
Subscription Issuance – Hen Vai Wu (in shares)																	200,000
Subscription Issuance – Hen Vai Wu																	$ 2,000	$ 48,000		$ 50,000
Finder’s fee issuance – Hen Vai Wu (in shares)																							115,000
Finder’s fee issuance – Hen Vai Wu																							$ 1,150	22,600		23,750
Balance (in shares) at Sep. 30, 2019																							40,216,351
Balance at Sep. 30, 2019																							$ 402,164	4,076,434	(4,399,514)	79,084
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 (in shares)																							400,000
Issuance of stock for cash																							$ 4,000	96,000		100,000
Issuance of stock for debt (in shares)
Issuance of stock for debt
Warrant expense																								10,218		10,218
Option expense																								272,064		272,064
Net loss																									(1,002,130)	(1,002,130)
Balance (in shares) at Sep. 30, 2020																							40,916,351
Balance at Sep. 30, 2020																							$ 409,164	$ 4,586,068	$ (5,771,762)	$ (776,530)

Condensed Statements of Cash Fl

Condensed Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Net cash used in operating activities	$ (408,381)	$ (779,339)
Cash flows from investing activities
Investment in Equipment		(1,638)
Investment in patents	(1,891)	(405)
Net cash used in investing activities	(1,891)	(2,043)
Cash flows from financing activities
Payments on convertible notes		(37,500)
Advances from shareholder	35,000
Proceeds from private placement offering	50,000	25,000
Net cash used in financing activities	85,000	(12,500)
Net change in cash	(325,272)	(793,882)
Cash and cash equivalents at beginning of period	409,039	1,276,654
Cash and cash equivalents at end of period	83,767	482,772
Supplemental Cash Flow Information
Cash paid for interest	4,895	727
Cash paid for income taxes
Non-Cash Transactions
Stock issued for accrued liabilities		93,250
Stock issued for advances from investors	100,000	25,000
Conversion of debt to common stock		$ 100,000

Note 1 - Organization and Busin

Note 1 - Organization and Business	9 Months Ended
	Sep. 30, 2020
Notes to Financial Statements
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]	1. Organization and Business. 1984.

Note 2

Note 2	9 Months Ended
	Sep. 30, 2020
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	2. ABI primarily operates through three 1 2

Note 3 - Basis of Presentation

Note 3 - Basis of Presentation	9 Months Ended
	Sep. 30, 2020
Notes to Financial Statements
Basis of Accounting [Text Block]	3. Basis of presentation. 10 December 31, 2019, March 30, 2020, not three nine September 30, 2020, not may December 31, 2020.

Note 4 - Financial Condition

Note 4 - Financial Condition	9 Months Ended
	Sep. 30, 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	9 Months Ended
	Sep. 30, 2020
Notes to Financial Statements
Stockholders' Equity Note Disclosure [Text Block]	5. Common Stock. 100,000,000 September 30, 2020, 50,073,805 40,916,351 3,529,417 two 582,670 one 6,309 127,278 54,780 200,000 4,657,000 We have not no

Note 6 - Convertible Notes Paya

Note 6 - Convertible Notes Payable - Related Party	9 Months Ended
	Sep. 30, 2020
Notes to Financial Statements
Debt Disclosure [Text Block]	6. Convertible Notes Payable – Related Party. December 31, 2019, $444,581. September 30, 2020, $632,814. i2China, Note #. Conversion Rate Interest Rate September 30, 2020 December 31, 2019 Note 1 - Chen $ 0.1680 0.75 % $ 114,026 $ 114,026 Note 2 - Chen $ 0.1875 0.65 % $ 262,500 $ 262,500 Note 3.19 - Chen $ 0.2500 1.85 % $ 39,620 $ 39,620 Note 4.19 - Chen $ 0.2500 1.61 % $ 12,436 $ 12,453 Note 5.19 – i2China $ 0.2500 1.85 % $ 16,000 $ 16,000 Note 6.20 - Chen $ 0.2500 1.85 % $ 162,450 $ - Note 7.20 - Chen $ 0.2500 1.60 % $ 1,782 $ - Note 8.20 – i2China $ 0.2500 1.85 % $ 24,000 $ - Total Convertible Notes – Related Party $ 632,814 $ 444,581 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 1 ABI may $9,025 15th may $0.25 144 1933. may 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	9 Months Ended
	Sep. 30, 2020
Notes to Financial Statements
Related Party Transactions Disclosure [Text Block]	7. Other Related Party Transactions. no January 1, 2020 September 30, 2020.

Note 8 - Subsequent Events

Note 8 - Subsequent Events	9 Months Ended
	Sep. 30, 2020
Notes to Financial Statements
Subsequent Events [Text Block]	8. Subsequent Events . October 14, 2020, 100,000 February 13, 2020. 144 six 2 2 October 1, 2020.

Note 6 - Convertible Notes Pa_2

Note 6 - Convertible Notes Payable - Related Party (Tables)	9 Months Ended
	Sep. 30, 2020
Notes Tables
Convertible Debt [Table Text Block]	Note #. Conversion Rate Interest Rate September 30, 2020 December 31, 2019 Note 1 - Chen $ 0.1680 0.75 % $ 114,026 $ 114,026 Note 2 - Chen $ 0.1875 0.65 % $ 262,500 $ 262,500 Note 3.19 - Chen $ 0.2500 1.85 % $ 39,620 $ 39,620 Note 4.19 - Chen $ 0.2500 1.61 % $ 12,436 $ 12,453 Note 5.19 – i2China $ 0.2500 1.85 % $ 16,000 $ 16,000 Note 6.20 - Chen $ 0.2500 1.85 % $ 162,450 $ - Note 7.20 - Chen $ 0.2500 1.60 % $ 1,782 $ - Note 8.20 – i2China $ 0.2500 1.85 % $ 24,000 $ - Total Convertible Notes – Related Party $ 632,814 $ 444,581

Note 2 (Details Textual)

Note 2 (Details Textual)	9 Months Ended
	Sep. 30, 2020
Number of Operating Segments	3

Note 5 - Common Stock (Details

Note 5 - Common Stock (Details Textual) - shares	Sep. 30, 2020	Dec. 31, 2019
Common Stock, Shares Authorized (in shares)	100,000,000	100,000,000
Common Stock, Shares Outstanding and Reserved (in shares)	50,073,805
Common Stock, Shares, Issued, Total (in shares)	40,916,351	40,516,351
Options [Member]
Common Stock, Capital Shares Reserved for Future Issuance (in shares)	4,657,000
Legal Fees [Member]
Common Stock, Capital Shares Reserved for Future Issuance (in shares)	54,780
Research and Development [Member]
Common Stock, Capital Shares Reserved for Future Issuance (in shares)	200,000
Officer [Member]
Common Stock, Capital Shares Reserved for Future Issuance (in shares)	582,670
Employees [Member]
Common Stock, Capital Shares Reserved for Future Issuance (in shares)	6,309
Consultants [Member]
Common Stock, Capital Shares Reserved for Future Issuance (in shares)	127,278
Convertible Debt Securities [Member]
Common Stock, Capital Shares Reserved for Future Issuance (in shares)	3,529,417

Note 6 - Convertible Notes Pa_3

Note 6 - Convertible Notes Payable - Related Party (Details Textual) - USD ($)	Sep. 30, 2020	Jan. 01, 2020	Dec. 31, 2019
Notes Payable, Convertible, Related Parties, Classified Current	$ 632,814		$ 444,581
Convertible Notes Payable, Total	632,814		444,581
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	632,814		444,581
Stephen Chen [Member] | Convertible Note Payable Number 6.20 [Member]
Convertible Notes Payable, Total	$ 162,450	$ 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	$ 1,782	$ 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	$ 24,000
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 ($)	Sep. 30, 2020	Jan. 01, 2020	Dec. 31, 2019
Convertible note payable	$ 632,814		$ 444,581
Convertible Note Payable Number One [Member] | Stephen Chen [Member]
Conversion rate (in dollars per share)	$ 0.168
Interest rate	0.75%
Convertible note payable	$ 114,026		114,026
Convertible Note Payable Number Two [Member] | Stephen Chen [Member]
Conversion rate (in dollars per share)	$ 0.1875
Interest rate	0.65%
Convertible note payable	$ 262,500		262,500
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	$ 39,620		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	$ 12,436		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	$ 16,000		16,000
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	$ 162,450	$ 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	$ 1,782	$ 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	$ 24,000

Note 8 - Subsequent Events (Det

Note 8 - Subsequent Events (Details Textual)	Oct. 14, 2020shares
Subsequent Event [Member] | UHO Wellness Corporation [Member]
Stock Issued During Period, Shares, Issued for Services (in shares)	100,000