Cover
Cover - shares | 9 Months Ended | |
Sep. 30, 2021 | Nov. 15, 2021 | |
Cover [Abstract] | ||
Entity Registrant Name | AINOS, INC. | |
Entity Central Index Key | 0001014763 | |
Document Type | 10-Q | |
Amendment Flag | false | |
Current Fiscal Year End Date | --12-31 | |
Entity Small Business | true | |
Entity Shell Company | false | |
Entity Emerging Growth Company | false | |
Entity Current Reporting Status | Yes | |
Document Period End Date | Sep. 30, 2021 | |
Entity Filer Category | Non-accelerated Filer | |
Document Fiscal Period Focus | Q3 | |
Document Fiscal Year Focus | 2021 | |
Entity Common Stock Shares Outstanding | 142,442,215 | |
Document Quarterly Report | true | |
Document Transition Report | false | |
Entity File Number | 0-20791 | |
Entity Incorporation State Country Code | TX | |
Entity Tax Identification Number | 75-1974352 | |
Entity Address Address Line 1 | 8880 Rio San Diego Drive | |
Entity Address Address Line 2 | Ste. 800 | |
Entity Address City Or Town | San Diego | |
Entity Address State Or Province | CA | |
Entity Address Postal Zip Code | 92108 | |
City Area Code | 858 | |
Local Phone Number | 869-2986 | |
Entity Interactive Data Current | Yes |
Balance Sheets (Parenthetical)
Balance Sheets (Parenthetical) - $ / shares | Sep. 30, 2021 | Dec. 31, 2020 |
Balance Sheets | ||
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) | 300,000,000 | 300,000,000 |
Common stock, shares issued (in shares) | 142,442,215 | 42,066,172 |
Common stock, shares outstanding (in shares) | 142,442,215 | 42,066,172 |
Balance Sheets
Balance Sheets - USD ($) | Sep. 30, 2021 | Dec. 31, 2020 |
Assets | ||
Cash and cash equivalents | $ 706,931 | $ 22,245 |
Accounts receivable | 44,643 | 0 |
Inventory | 175 | 3,024 |
Prepaid expense and other current assets | 133,065 | 51,144 |
Total current assets | 884,814 | 76,413 |
Patents, net | 19,011,337 | 180,628 |
Property and equipment, net | 39,956 | 3,249 |
Right of Use Asset | 55,724 | 0 |
Other Assets | 1,795 | 0 |
Total assets | 19,993,626 | 260,290 |
Current liabilities: | ||
Accounts payable and accrued expenses | 578,549 | 145,567 |
Contract liabilities | 37,616 | 0 |
Convertible notes payable - related party | 2,000,193 | 805,001 |
Convertible notes payable | 185,000 | 148,000 |
Lease Obligation-Current | 20,619 | 0 |
Total current liabilities | 2,821,977 | 1,098,568 |
Non-current liabilities: | ||
Lease Obligation-Non current | 35,289 | 0 |
Total liabilities | 2,857,266 | 1,098,568 |
Stockholders' equity (deficit) | ||
Preferred stock, $0.01 par value, 10 million shares authorized, 0 shares issued and outstanding at September 30, 2021 and December 31, 2020, respectively | 0 | 0 |
Common Stock, $0.01 par value, 300 million shares authorized, 142,442,215 and 42,066,172 shares outstanding at September 30, 2021 and December 31, 2020, respectively | 1,424,422 | 420,662 |
Additional paid-in capital | 24,369,245 | 4,961,315 |
Accumulated deficit | (8,664,145) | (6,220,255) |
Translation adjustment | 6,838 | 0 |
Total stockholders' equity (deficit) | 17,136,360 | (838,278) |
Total liabilities and stockholders' equity (deficit) | $ 19,993,626 | $ 260,290 |
Statements of Operations (Unaud
Statements of Operations (Unaudited) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Statements of Operations (Unaudited) | ||||
Revenues | $ 363,052 | $ 192 | $ 568,164 | $ 15,876 |
Cost of revenues | 103,638 | 123 | 174,395 | 11,221 |
Gross margin | 259,414 | 69 | 393,769 | 4,655 |
Operating expenses: | ||||
Research and development expenses | 646,798 | 0 | 646,798 | 389 |
Selling, general and administrative expenses | 795,958 | 321,153 | 2,178,969 | 1,001,893 |
Total operating expense | 1,442,756 | 321,153 | 2,825,767 | 1,002,282 |
Operating loss | (1,183,342) | (321,084) | (2,431,998) | (997,627) |
Non-operating income and expenses | ||||
Interest Income, net | (23,517) | (2,201) | (9,361) | (4,503) |
Other Losses | (285) | 0 | (2,532) | 0 |
Total Non-operating income and expenses | 23,232 | (2,201) | (11,893) | (4,503) |
Profit before income tax | (1,160,110) | (323,285) | (2,443,891) | (1,002,130) |
Less: Income tax | 0 | 0 | 0 | 0 |
Net loss | $ (1,160,110) | $ (323,285) | $ (2,443,891) | $ (1,002,130) |
Basic and diluted net loss per average share available to common shareholders | $ (0.10) | $ (0.01) | $ (0.03) | $ (0.02) |
Weighted average common shares outstanding - basic and diluted | 142,419,337 | 40,516,351 | 75,919,713 | 40,620,055 |
Statements of Stockholders' Equ
Statements of Stockholders' Equity (Deficit) (Unaudited) - USD ($) | Total | Preferred Stock | Common Stock | Additional Paid-In Capital | Retained Earnings (Accumulated Deficit) | Translation Adjustment |
Balance, shares at Dec. 31, 2019 | 40,516,351 | |||||
Balance, amount at Dec. 31, 2019 | $ (156,682) | $ 0 | $ 405,164 | $ 4,207,786 | $ (4,769,632) | $ 0 |
Issuance of stock for compensation, amount | 0 | 0 | $ 0 | 0 | 0 | 0 |
Issuance of stock for cash, shares | 400,000 | |||||
Issuance of stock for cash, amount | 100,000 | $ 4,000 | 96,000 | 0 | 0 | |
Warrant expense | 10,218 | 0 | 0 | 10,218 | 0 | 0 |
Option expense | 272,604 | 0 | 0 | 272,064 | 0 | 0 |
Net loss | (1,002,130) | 0 | 0 | 0 | (1,002,130) | 0 |
Translation adjustment | 0 | 0 | $ 0 | $ 0 | 0 | 0 |
Balance, shares at Sep. 30, 2020 | 40,916,351 | 1 | ||||
Balance, amount at Sep. 30, 2020 | (776,530) | 0 | $ 409,164 | $ 4,586,068 | (5,771,762) | 0 |
Balance, shares at Jun. 30, 2020 | 40,516,351 | |||||
Balance, amount at Jun. 30, 2020 | (744,117) | 0 | $ 405,164 | 4,299,196 | (5,448,477) | 0 |
Issuance of stock for compensation, amount | 0 | 0 | $ 0 | 0 | 0 | 0 |
Issuance of stock for cash, shares | 400,000 | |||||
Issuance of stock for cash, amount | 100,000 | 0 | $ 4,000 | 96,000 | 0 | 0 |
Warrant expense | 9,496 | 0 | 0 | 9,496 | 0 | 0 |
Option expense | 181,376 | 0 | 0 | 181,376 | 0 | 0 |
Net loss | (323,285) | 0 | 0 | 0 | (323,285) | 0 |
Translation adjustment | 0 | 0 | $ 0 | $ 0 | 0 | 0 |
Balance, shares at Sep. 30, 2020 | 40,916,351 | 1 | ||||
Balance, amount at Sep. 30, 2020 | (776,530) | 0 | $ 409,164 | $ 4,586,068 | (5,771,762) | 0 |
Balance, shares at Dec. 31, 2020 | 42,066,172 | |||||
Balance, amount at Dec. 31, 2020 | (838,278) | 0 | $ 420,661 | 4,961,315 | (6,220,254) | 0 |
Issuance of stock for compensation, amount | 139,405 | 0 | 2,056 | 137,349 | 0 | 0 |
Warrant expense | 10,252 | 0 | 0 | 10,252 | 0 | 0 |
Option expense | 197,281 | 0 | 0 | 197,281 | 0 | 0 |
Net loss | (2,443,891) | 0 | 0 | 0 | (2,443,891) | 0 |
Translation adjustment | 6,838 | 0 | $ 0 | 0 | 0 | 6,838 |
Issuance of stock for compensation, shares | 205,643 | |||||
Issuance of stock for Patent assets, shares | 100,000,000 | |||||
Issuance of stock for Patent assets, amount | 20,000,000 | 0 | $ 1,000,000 | 19,000,000 | 0 | 0 |
Issuance of stock for Option, shares | 170,400 | |||||
Issuance of stock for Option, amount | 64,752 | 0 | $ 1,704 | 63,048 | 0 | 0 |
Balance, shares at Sep. 30, 2021 | 142,442,215 | |||||
Balance, amount at Sep. 30, 2021 | 17,136,360 | 0 | $ 1,424,422 | 24,369,245 | (8,664,145) | 6,838 |
Balance, shares at Jun. 30, 2021 | 142,271,815 | |||||
Balance, amount at Jun. 30, 2021 | 18,205,557 | 0 | $ 1,422,718 | 24,286,875 | (7,504,035) | 0 |
Issuance of stock for compensation, amount | 0 | 0 | 0 | 0 | 0 | 0 |
Warrant expense | 3,417 | 0 | 0 | 3,417 | 0 | 0 |
Option expense | 15,905 | 0 | 0 | 15,905 | 0 | 0 |
Net loss | (1,160,110) | 0 | 0 | 0 | (1,160,110) | 0 |
Translation adjustment | 6,838 | 0 | 0 | 0 | 0 | 6,838 |
Issuance of stock for Patent assets, amount | 0 | 0 | $ 0 | 0 | 0 | 0 |
Issuance of stock for Option, shares | 170,400 | |||||
Issuance of stock for Option, amount | 64,752 | 0 | $ 1,704 | 63,048 | 0 | 0 |
Balance, shares at Sep. 30, 2021 | 142,442,215 | |||||
Balance, amount at Sep. 30, 2021 | $ 17,136,360 | $ 0 | $ 1,424,422 | $ 24,369,245 | $ (8,664,145) | $ 6,838 |
Condensed Statements of Cash Fl
Condensed Statements of Cash Flows (Unaudited) - USD ($) | 9 Months Ended | |
Sep. 30, 2021 | Sep. 30, 2020 | |
Condensed Statements of Cash Flows (Unaudited) | ||
Net cash used in operating activities | $ (569,150) | $ (244,967) |
Cash flows from investing activities | ||
Investment in patents | 0 | (1,891) |
Purchase of fixed assets | (41,581) | 0 |
Proceeds from disposal of property, plant and equipment | 36 | 0 |
Increase in refundable deposits | (1,795) | 0 |
Net cash flows used in investing activities | (43,340) | (1,891) |
Cash flows from financing activities | ||
Advances from shareholder | 0 | 35,000 |
Proceeds from private placement offering, net | 0 | 50,000 |
Proceeds from exercise of share options | 64,752 | 0 |
Payments of lease liabilities | (6,815) | 0 |
Proceeds from convertible note payable -related party | 1,232,192 | 0 |
Net cash used in financing activities | 1,290,129 | 85,000 |
Effect of changes in exchange rates | 7,046 | 0 |
Net change in cash and cash equivalents | 677,639 | (325,272) |
Cash and cash equivalents at beginning of period | 22,245 | 409,039 |
Cash and cash equivalents at end of period | 706,931 | 83,767 |
Supplemental Cash Flow Information | ||
Interest paid | 9,363 | 4,895 |
Non-Cash Transactions | ||
Stock issued for acquisition of patents | 20,000,000 | 0 |
Stock issued for compensation, warrant and option expense | 346,938 | 0 |
Stock issued for advances from investors | 0 | 100,000 |
ROU Leased assets | 62,723 | 0 |
Lease obligation | $ 62,723 | $ 0 |
Organization and Business
Organization and Business | 9 Months Ended |
Sep. 30, 2021 | |
Organization and Business | |
1. Organization and Business | 1. Organization and Business. |
General
General | 9 Months Ended |
Sep. 30, 2021 | |
General | |
2. General | 2. The Company is engaged in developing biologics for the treatment of human and animal diseases. Our current focus is research aimed at the treatment of human disease indications, including Sjögren’s syndrome, thrombocytopenia, and other indications using interferon (IFN) alpha that is administered in a proprietary low-dose non-injectable form. In addition to our core technology, we are working to expand our current focus into a diversified healthcare business portfolio in order to generate new revenue streams. We own patents with claims that encompass method of use or treatment, and/or composition of matter and manufacturing as well as design utility and/or invention. Of twelve issued patents, four patents are related to the low-dose oral delivery of interferon, three patents are associated with treatment of metabolic disorders, and five patents related to the development and manufacturing of point-of-care testing rapid test kit products that include diagnostics for COVID-19 (SARS CoV2 Antigen Rapid Test), pneumonia, vaginal infection and helicobacter pylori (H. pylori) bacterial infection. We primarily operate three business units: the Pharmaceutical, Medical Devices and Preventive Medicine Divisions. Our Pharmaceutical Division is focused on low-dose, orally administered lozenges containing the natural immune system activator interferon-alpha as a treatment for a variety of disease indications. We own a proprietary library of over thirty years of scientific and clinical data on the human and animal applications of low-dose oral interferon. Our Medical Device Division is dedicated to developing a novel insulin pump and further development of point-of-care rapid test kits for the detection and diagnosis of human infections. Our Preventative Medicine Division, which has been restructured from our former Consumer Product Division, is focused on SRNA-based therapeutics. |
Basis of Presentation
Basis of Presentation | 9 Months Ended |
Sep. 30, 2021 | |
Organization and Business | |
3. Basis of Presentation | 3. Basis of presentation. |
Financial Condition
Financial Condition | 9 Months Ended |
Sep. 30, 2021 | |
Financial Condition | |
4. Financial Condition | 4. Financial Condition. While the Company has recurring losses and generated negative cash flows from operations, the Company has taken initiatives to improve its management capacity and business operations. Such initiatives include the procurement of innovative diagnostic technologies and securing a strategic investor, as a result of the closing of a securities purchase agreement with Ainos, Inc. a Cayman Island corporation (“Ainos KY”) on April 15, 2021 (the “Ainos KY Transaction”). Details of the Ainos Transaction were disclosed in the Company’s Form 10-Q filing for the second quarter of 2021. After closing the Ainos KY Transaction, the Company engaged additional management resources including Mr. Chun-Hsien Tsai as Chairman and CEO, Ms. Hui-Lan (Celia) Wu as CFO and Mr. Chih-Heng (Jack Lu) as Head of Corporate Development, retained key management and legal staff, and implemented new business initiatives. On June 14, 2021, the Company became the master sales and marketing agent for the Ainos SARS-Cov-2 Antigen Rapid Test Kit (“Ainos Covid-19 Test Kit”) which has generated $568,164 in sales thus far in 2021. As of September 30, 2021, the Company’s financial improvement includes the following: Total stockholder’s equity increased to $17,136,360 as of September 30, 2021 compared to a negative total shareholder’s equity of $838,278 as of December 2021. Cash and cash equivalents increased to $706,931 as of September 30, 2021 compared to $22,245 at December 31, 2020. This is attributable to increased revenues from sales of our Ainos Covid-19 Test Kit in Taiwan and operational loans made to the Company by Ainos KY. The Company’s revenues increased to $568,164 during this reporting period compared to $15,876 as of third quarter of 2020. The Company anticipates business revenues and potential additional financial support from Ainos KY and other entities to fund the Company’s operations over the next twelve months. The Company may raise additional capital through the issuance of equity securities, debt financings or other sources in order to further implement its business plan. However, if such financing is not available when needed and at adequate levels, the Company will need to reevaluate its operating plan. There can be no assurance that capital will be available as necessary to meet the Company's working capital requirements or, if the capital is available, that it will be on terms acceptable to the Company. Any issuances of additional equity securities by the Company may result in dilution in the equity interests of its current stockholders. Obtaining commercial loans will increase the Company's liabilities and future cash commitments to the extent such loans would be available. While management believes in its strategic plans, management cannot be certain that projected financial results can be achieved. |
Common Stock
Common Stock | 9 Months Ended |
Sep. 30, 2021 | |
Common Stock | |
5. Common Stock | 5. Common Stock. |
Convertible Notes Payable and O
Convertible Notes Payable and Other Related Party Notes Payable | 9 Months Ended |
Sep. 30, 2021 | |
Convertible Notes Payable and Other Related Party Notes Payable | |
6. Convertible Notes Payable and Other Related Party Notes Payable | 6. Convertible Notes Payable and Other Related Party Notes Payable. Annual Interest Rate Unpaid Principal Balance No# Effective Date Due Date From Effective Following Maturity Payee Issuing Purpose Sep 30, 2021 Dec 31, 2020 Payee: Dr. Stephen T. Chen, resigned as Chairman of the Board, President, and Board director April 15, 2021 #1.16 2016/01/30 Payable on demand 0.75% NA Stephen Chen working capital 114,026 114,026 #2.16 2016/03/18 Payable on demand 0.65% NA Stephen Chen working capital 262,500 262,500 #3.19 2019/09/01 2020/09/01 1.85% 10% Stephen Chen salary 39,392 39,620 #4.19 2019/12/01 2020/12/31 1.61% 10% Stephen Chen working capital 14,879 14,879 #6.20 2020/01/01 2021/01/01 1.85% 10% Stephen Chen salary 216,600 216,600 #7.20 2020/01/01 2021/01/02 1.60% 10% Stephen Chen working capital 23,366 23,366 #9.20 2020/01/01 2021/04/14 0.13% 10% Stephen Chen working capital 279,405 134,010 #10.21 2021/01/01 2021/04/01 1.85% 10% Stephen Chen salary 59,025 #11.21 2021/04/01 2021/05/01 1.85% 10% Stephen Chen salary 10,000 1,019,193 805,001 Payee: Ainos KY, an affiliated company #12.21 2021/04/27 2021/10/27 1.85% NA Ainos KY working capital 15,000 #13.21 2021/05/05 2021/11/05 1.85% NA Ainos KY working capital 20,000 #14.21 2021/05/25 2021/11/25 1.85% NA Ainos KY working capital 30,000 #15.21 2021/05/28 2021/11/28 1.85% NA Ainos KY working capital 35,000 #16.21 2021/06/09 2021/12/09 1.85% NA Ainos KY working capital 300,000 #17.21 2021/06/21 2021/12/21 1.85% NA Ainos KY working capital 107,000 #18.21 2021/07/02 2022/01/02 1.85% NA Ainos KY working capital 54,000 #19.21 2021/09/01 2021/03/01 1.85% NA Ainos KY working capital 120,000 #20.21 2021/09/28 2021/03/28 1.85% NA Ainos KY working capital 300,000 981,000 0 Convertible and other notes payable- related parties 2,000,193 805,001 Payee: i2China Management Group LLC, a management consultant #5.19 2019/09/01 2020/09/01 1.85% 10% i2China consulting fee 16,000 16,000 #8a.20 2020/01/01 2021/01/01 1.85% 10% i2China consulting fee 48,000 48,000 #8b.20 Retroactive from 2020/01/01 2021/01/01 1.85% 10% i2China consulting fee 84,000 84,000 #11.21 2021/01/01 2021/04/01 1.85% 10% i2China consulting fee 37,000 Convertible and other notes payable 185,000 148,000 Total Convertible and other notes payable 2,185,193 953,001 All of the aforementioned convertible and non-convertible promissory notes are unsecured and due on demand. All shares issued upon conversion are restricted and subject to Rule 144 promulgated under the U.S. Securities Act of 1933 (the “Securities Act”); subject to any exemptions or exclusions under the Act. The Company may prepay the notes in whole or in part at any time without penalty. The promissory notes due to Dr. Stephen T. Chen and Ainos KY are related party notes. i2China Management Group, LLC (“i2China”) and Dr. Stephen T. Chen (together the “Payees”), have both agreed to waive any and all rights pertaining to the conditional term “Annual Interest Rate on Matured, Unpaid Amounts: 10% per annum, compounded annually of Convertible Notes” in regards to interest charged on any unpaid amounts following maturity for all of their respective notes. The Company and the Payees agree that the originally agreed annual interest rate will continue to be valid for any unpaid amounts after maturity. The amended terms of the above convertible notes were made during 2021 Q3 on September 1, 2021. The waived interest amount was $45,875. Unpaid Interest Rate Interest amount Interest No# Date Payee Description Principal Amount Original after Maturity Original rate 10% Total after Maturity Interest Waived #1.16 1/30/2016 Stephen working capital 114,026 0.75% NA 5,624 0 5,624 5,624 0 #2.16 3/18/2016 Stephen working capital 262,500 0.65% NA 9,447 0 9,447 9,447 0 #3.19 9/1/2019(DS) Stephen salary 39,392 1.85% 10% 714 4,340 5,054 1,518 3,536 #4.19 12/1/2019(DE) Stephen working capital 14,879 1.61% 10% 257 1,132 1,389 439 950 #6.20 1/1/2020(DS) Stephen salary 216,600 1.85% 10% 2,179 16,363 18,543 5,206 13,336 #7.20 1/1/2020(DE) Stephen working capital 23,366 1.60% 10% 72 1,753 1,825 352 1,473 #9.20 11/2020 (Open) Stephen working capital 279,405 0.13% 10% 81 12,864 12,945 248 12,697 #10.21 1/1/2021(DS) Stephen salary 59,025 1.85% 10% 178 2,968 3,146 725 2,421 #11.21 4/1/2021(DS) Stephen salary 10,000 1.85% 10% 15 420 435 93 342 1,019,193 1.85% 10% 18,566 39,841 58,407 23,653 34,754 #5.19 9/1/2019 i2China consulting fee 16,000 1.85% 10% 253 1,759 2,012 579 1,433 #8a.20 1/1/2020 i2China consulting fee 48,000 1.85% 10% 483 3,626 4,109 1,154 2,955 #8b.20 1/1/2020 i2China retroactive increase 84,000 1.85% 10% 1,554 6,399 7,953 2,738 5,215 #11.21 1/1/2021(DS) i2China consulting fee 37,000 1.85% 10% 107 1,860 1,967 450 1,517 185,000 2,397 13,645 16,041 4,920 11,121 TOTAL ACCRUED 1,204,193 20,963 53,485 74,448 28,573 45,875 The accrued interest amount was $31,983 and $18,691 as of September 30, 2021 and December 31, 2020, respectively. |
Other Related Party Transaction
Other Related Party Transactions | 9 Months Ended |
Sep. 30, 2021 | |
Other Related Party Transactions | |
7. Other Related Party Transactions | 7. Related Party Transactions The following is a list of related parties who have undertaken transactions with the Company during this reporting period: Name of the related party Relationship Description Taiwan Carbon Nano Technology Corporation (TCNT) Affiliated company Ainos, Inc. (Cayman Island) ( Ainos KY) Affiliated company ASE Technology Holding Affiliated company Parent company of ASE Test Inc. which is Ainos KY's board member and with more than 10% of the voting rights i2 China Management Group LLC (i2 China) Affiliated company Sole member owner is Lawrence Lin, EVP Operations effective August 1, 2021 Dr. Stephen T. Chen Principal owner Shareholder with more than 5% of Company voting rights, Ainos' former Chairman, President, CEO and CFO Chun-Hsien Tsai Board of Director, Executive Officer and Immediate Family Chairman of BOD, President, CEO and spouse of Ting-Chuan Lee Ting-Chuan Lee Board of Director and Immediate Family Spouse of Chun Hsien Tsai Hui-Lan Wu Executive Officer CFO Lawrence Lin Key management EVP Operations effective August 1, 2021 Chih-Heng Lu Key management Director of Corporate Development and Corporate Secretary John Junyong Lee Key management Chief Legal Counsel and Corporate Secretary rewarded by fixed monthly fee and performance bonus effective September 1,2021 Chief Legal Counsel and Corporate Secretary Chien-Hsuan Huang Immediate Family of Director Spouse of Wen-Han Chang Bernard Cohen Former CFO Resigned on April 5, 2021 Below is a summary of the significant related party transactions entered into by the Company over the first nine months of 2021: Financial support Convertible Note Related Interest Expense Nine months ended September 30, 2021 As of September 30, 2021 Nine months ended September 30, 2021 As of September 30, 2021 Ainos KY 981,000 981,000 3,410 3,410 i2China 37,000 185,000 2,087 4,920 Dr. Stephen T. Chen 15,272 1,019,193 5,936 23,653 1,033,272 2,185,193 11,433 31,983 i2China became an affiliate of the Company as of August 1, 2021. From August 1, 2021 to September 30, 2021, interest payable to i2China amounted to $496. Other transactions - Inventory purchases from TCNT totaling $173,657. - Product co-development agreement with TCNT resulting in $117,386 in costs and $122,680 in accounts payable. - Sale of products to ASE Technology Holding totaling $185,376. - Three-year office space was leased from a related party resulting in ROU Asset totaling $55,728 and Lease Obligations totaling $55,908. The Company makes monthly lease payments of $1,785. - Product development consulting fee of $7,215 payable to Huang Chien-Hsuan, of which $6,671 remains outstanding and payable. - Product development consulting fee of $7,215 payable to Huang Chien-Hsuan, of which $6,671 remains outstanding and payable. - On August 1, 2021, the Company entered into a five-year product development agreement with TCNT. Pursuant to the agreement both parties will endeavor to develop pharmaceutical, medical and preventive medicine related products. Under the agreement the Company is designated as the exclusive sales agent of the resulting products. The agreement also provides for the Company to bear the expenses of product development and for TCNT to contribute personnel and facilities. Both parties shall each jointly own an equal proportion of the intellectual property rights arising from the product co-development cooperation. As a result, the Company incurred $117,386 in product co-development expenses and $122,680 in accounts payable during the reporting period. - The Company issued common stock as partial compensation to Dr. Stephen T. Chen and Bernard Cohen as follows: Shares Par Value Paid in Excess of Par Total amount Price per share 06/30/2021 Bernard Cohen 5,876 58.76 3,107.89 3,166.65 0.5389 06/30/2021 Dr. Stephen T. Chen 53,419 534.19 32,799.14 33,333.33 0.6240 59,295 593 35,907 36,500 |
Subsequent Events
Subsequent Events | 9 Months Ended |
Sep. 30, 2021 | |
Subsequent Events | |
8. Subsequent Events | 8. Subsequent Events. The Company engaged PricewaterhouseCoopers, Taiwan (“PWC”) as independent accountants of Ainos Inc. Taiwan Branch under an engagement agreement dated October 4, 2021 (“Audit Engagement”). The Audit Engagement covers audit services for the years ending December 31, 2021 and 2022 and PWC will issue interfirm audit reports for group reporting purposes to the Company’s group audit firm, PWR CPA, LLP. Additionally, the Company engaged PWC under separate agreements dated October 4, 2021 for PWC to render advisory services in connection to the Company’s internal controls over financial reporting as required under section 404 of the Sarbanes-Oxley Act (“SOX Engagement”) and in respect to compliance with Taiwan corporate income tax requirements for the tax years ending December 31, 2021 and 2022 (“Taiwan Tax Engagement”). On October 6, 2021, the Company board of directors approved and adopted the following resolutions: · Effective August 30, 2021, the Board appointed Hsiu-Chen Chiu and Wen-Han Chang to serve on the Compensation Committee; · Effective August 30, 2021, the Board appointed Yao-Chung Chiang, Wen-Han Chang and Hsiu-Chen Chiu to serve on the Audit Committee; · Board approval of the Company’s 2021 Employee Stock Purchase Plan, 2021 Stock Incentive Plan, and 2021 Director Compensation Policy and, if required, shall submit the same for formal adoption by a vote of the Company’s shareholders · Board approval of the Company’s Related Transaction Policy, Hedging Policy, and the Diversity Policy of the Board; and · Board approval of the Company’s engagement agreements dated October 4, 2021 with PricewaterhouseCoopers, Taiwan (“PWC”) On November 1, 2021, the Company engaged its former President and CEO, Dr. Stephen T. Chen, as a consultant to assist with its pharmaceutical division. The Company agrees to pay Dr. Chen 50,000 New Taiwan Dollars (NTD) per month for a period of one year for his services. With over 30 years of pharmaceutical professional experience, we expect Dr. Chen to provide technical assistance on our pharmaceutical development initiatives, analyze results from second phase interferon studies for Thrombocytopenia, and contribute to the protocol design of the third phase of interferon development focused on Sjögren’s syndrome. Lastly, we expect that Dr. Chen will provide assistance for our mass commercial production of low-dose interferon products. |
Convertible Notes Payable and_2
Convertible Notes Payable and Other Related Party Notes Payable (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Convertible Notes Payable and Other Related Party Notes Payable (Tables) | |
Convertible Debt | Annual Interest Rate Unpaid Principal Balance No# Effective Date Due Date From Effective Following Maturity Payee Issuing Purpose Sep 30, 2021 Dec 31, 2020 Payee: Dr. Stephen T. Chen, resigned as Chairman of the Board, President, and Board director April 15, 2021 #1.16 2016/01/30 Payable on demand 0.75% NA Stephen Chen working capital 114,026 114,026 #2.16 2016/03/18 Payable on demand 0.65% NA Stephen Chen working capital 262,500 262,500 #3.19 2019/09/01 2020/09/01 1.85% 10% Stephen Chen salary 39,392 39,620 #4.19 2019/12/01 2020/12/31 1.61% 10% Stephen Chen working capital 14,879 14,879 #6.20 2020/01/01 2021/01/01 1.85% 10% Stephen Chen salary 216,600 216,600 #7.20 2020/01/01 2021/01/02 1.60% 10% Stephen Chen working capital 23,366 23,366 #9.20 2020/01/01 2021/04/14 0.13% 10% Stephen Chen working capital 279,405 134,010 #10.21 2021/01/01 2021/04/01 1.85% 10% Stephen Chen salary 59,025 #11.21 2021/04/01 2021/05/01 1.85% 10% Stephen Chen salary 10,000 1,019,193 805,001 Payee: Ainos KY, an affiliated company #12.21 2021/04/27 2021/10/27 1.85% NA Ainos KY working capital 15,000 #13.21 2021/05/05 2021/11/05 1.85% NA Ainos KY working capital 20,000 #14.21 2021/05/25 2021/11/25 1.85% NA Ainos KY working capital 30,000 #15.21 2021/05/28 2021/11/28 1.85% NA Ainos KY working capital 35,000 #16.21 2021/06/09 2021/12/09 1.85% NA Ainos KY working capital 300,000 #17.21 2021/06/21 2021/12/21 1.85% NA Ainos KY working capital 107,000 #18.21 2021/07/02 2022/01/02 1.85% NA Ainos KY working capital 54,000 #19.21 2021/09/01 2021/03/01 1.85% NA Ainos KY working capital 120,000 #20.21 2021/09/28 2021/03/28 1.85% NA Ainos KY working capital 300,000 981,000 0 Convertible and other notes payable- related parties 2,000,193 805,001 Payee: i2China Management Group LLC, a management consultant #5.19 2019/09/01 2020/09/01 1.85% 10% i2China consulting fee 16,000 16,000 #8a.20 2020/01/01 2021/01/01 1.85% 10% i2China consulting fee 48,000 48,000 #8b.20 Retroactive from 2020/01/01 2021/01/01 1.85% 10% i2China consulting fee 84,000 84,000 #11.21 2021/01/01 2021/04/01 1.85% 10% i2China consulting fee 37,000 Convertible and other notes payable 185,000 148,000 Total Convertible and other notes payable 2,185,193 953,001 Unpaid Interest Rate Interest amount Interest No# Date Payee Description Principal Amount Original after Maturity Original rate 10% Total after Maturity Interest Waived #1.16 1/30/2016 Stephen working capital 114,026 0.75% NA 5,624 0 5,624 5,624 0 #2.16 3/18/2016 Stephen working capital 262,500 0.65% NA 9,447 0 9,447 9,447 0 #3.19 9/1/2019(DS) Stephen salary 39,392 1.85% 10% 714 4,340 5,054 1,518 3,536 #4.19 12/1/2019(DE) Stephen working capital 14,879 1.61% 10% 257 1,132 1,389 439 950 #6.20 1/1/2020(DS) Stephen salary 216,600 1.85% 10% 2,179 16,363 18,543 5,206 13,336 #7.20 1/1/2020(DE) Stephen working capital 23,366 1.60% 10% 72 1,753 1,825 352 1,473 #9.20 11/2020 (Open) Stephen working capital 279,405 0.13% 10% 81 12,864 12,945 248 12,697 #10.21 1/1/2021(DS) Stephen salary 59,025 1.85% 10% 178 2,968 3,146 725 2,421 #11.21 4/1/2021(DS) Stephen salary 10,000 1.85% 10% 15 420 435 93 342 1,019,193 1.85% 10% 18,566 39,841 58,407 23,653 34,754 #5.19 9/1/2019 i2China consulting fee 16,000 1.85% 10% 253 1,759 2,012 579 1,433 #8a.20 1/1/2020 i2China consulting fee 48,000 1.85% 10% 483 3,626 4,109 1,154 2,955 #8b.20 1/1/2020 i2China retroactive increase 84,000 1.85% 10% 1,554 6,399 7,953 2,738 5,215 #11.21 1/1/2021(DS) i2China consulting fee 37,000 1.85% 10% 107 1,860 1,967 450 1,517 185,000 2,397 13,645 16,041 4,920 11,121 TOTAL ACCRUED 1,204,193 20,963 53,485 74,448 28,573 45,875 |
Related Party Transactions (Tab
Related Party Transactions (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Other Related Party Transactions | |
Schedule of list of related parties | Name of the related party Relationship Description Taiwan Carbon Nano Technology Corporation (TCNT) Affiliated company Ainos, Inc. (Cayman Island) ( Ainos KY) Affiliated company ASE Technology Holding Affiliated company Parent company of ASE Test Inc. which is Ainos KY's board member and with more than 10% of the voting rights i2 China Management Group LLC (i2 China) Affiliated company Sole member owner is Lawrence Lin, EVP Operations effective August 1, 2021 Dr. Stephen T. Chen Principal owner Shareholder with more than 5% of Company voting rights, Ainos' former Chairman, President, CEO and CFO Chun-Hsien Tsai Board of Director, Executive Officer and Immediate Family Chairman of BOD, President, CEO and spouse of Ting-Chuan Lee Ting-Chuan Lee Board of Director and Immediate Family Spouse of Chun Hsien Tsai Hui-Lan Wu Executive Officer CFO Lawrence Lin Key management EVP Operations effective August 1, 2021 Chih-Heng Lu Key management Director of Corporate Development and Corporate Secretary John Junyong Lee Key management Chief Legal Counsel and Corporate Secretary rewarded by fixed monthly fee and performance bonus effective September 1,2021 Chief Legal Counsel and Corporate Secretary Chien-Hsuan Huang Immediate Family of Director Spouse of Wen-Han Chang Bernard Cohen Former CFO Resigned on April 5, 2021 |
schedule of financial support list | Convertible Note Related Interest Expense Nine months ended September 30, 2021 As of September 30, 2021 Nine months ended September 30, 2021 As of September 30, 2021 Ainos KY 981,000 981,000 3,410 3,410 i2China 37,000 185,000 2,087 4,920 Dr. Stephen T. Chen 15,272 1,019,193 5,936 23,653 1,033,272 2,185,193 11,433 31,983 Shares Par Value Paid in Excess of Par Total amount Price per share 06/30/2021 Bernard Cohen 5,876 58.76 3,107.89 3,166.65 0.5389 06/30/2021 Dr. Stephen T. Chen 53,419 534.19 32,799.14 33,333.33 0.6240 59,295 593 35,907 36,500 |
Financial Condition (Details Na
Financial Condition (Details Narrative) - USD ($) | 3 Months Ended | 9 Months Ended | ||||||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | Jun. 30, 2021 | Dec. 31, 2020 | Jun. 30, 2020 | Dec. 31, 2019 | |
Total stockholders' equity (deficit) | $ 17,136,360 | $ (776,530) | $ 17,136,360 | $ (776,530) | $ 18,205,557 | $ (838,278) | $ (744,117) | $ (156,682) |
Revenues | 363,052 | $ 192 | 568,164 | 15,876 | ||||
Securities Purchase Agreements [Member] | ||||||||
Cash and cash equivalents | 706,931 | 706,931 | 22,245 | |||||
Total stockholders' equity (deficit) | $ 17,136,360 | 17,136,360 | $ 838,278 | |||||
Revenues | $ 568,164 | $ 15,786 |
Common Stock (Details Narrative
Common Stock (Details Narrative) | Sep. 30, 2021USD ($) |
Stockholders' equity (deficit) | |
Shares increase value | $ 1,003,760 |
Convertible Notes Payable and_3
Convertible Notes Payable and Oayable (Details) - USD ($) | 9 Months Ended | 12 Months Ended |
Sep. 30, 2021 | Dec. 31, 2020 | |
Dr. Stephen T. Chen [Member] | ||
Due Date | 2021/04/01 | |
Annual interest rate, From effective | 1.85% | |
Effective Date | 2021/01/01 | |
Unpaid principal balance | $ 1,019,193 | $ 805,001 |
Annual interest rate, Following maturity | 10.00% | |
Dr. Stephen T. Chen [Member] | 2.16 [Member] | ||
Due Date | Payable on demand | |
Annual interest rate, From effective | 0.65% | |
Effective Date | 2016/03/18 | |
Unpaid principal balance | $ 262,500 | 262,500 |
Dr. Stephen T. Chen [Member] | 1.16 [Member] | ||
Due Date | Payable on demand | |
Annual interest rate, From effective | 0.75% | |
Effective Date | 2016/01/30 | |
Unpaid principal balance | $ 114,026 | 114,026 |
Dr. Stephen T. Chen [Member] | 3.19 [Member] | ||
Due Date | 2020/09/01 | |
Annual interest rate, From effective | 1.85% | |
Effective Date | 2019/09/01 | |
Unpaid principal balance | $ 39,392 | 39,620 |
Annual interest rate, Following maturity | 10.00% | |
Dr. Stephen T. Chen [Member] | 4.19 [Member] | ||
Due Date | 2020/12/31 | |
Annual interest rate, From effective | 1.61% | |
Effective Date | 2019/12/01 | |
Unpaid principal balance | $ 14,879 | 14,879 |
Annual interest rate, Following maturity | 10.00% | |
Dr. Stephen T. Chen [Member] | 6.20 [Member] | ||
Due Date | 2021/01/ | |
Annual interest rate, From effective | 1.85% | |
Effective Date | 2020/01/01 | |
Unpaid principal balance | $ 216,600 | 216,600 |
Annual interest rate, Following maturity | 10.00% | |
Dr. Stephen T. Chen [Member] | 7.20 [Member] | ||
Due Date | 2021/01/02 | |
Annual interest rate, From effective | 1.60% | |
Effective Date | 2020/01/01 | |
Unpaid principal balance | $ 23,366 | 23,366 |
Annual interest rate, Following maturity | 10.00% | |
Dr. Stephen T. Chen [Member] | 9.20 [Member] | ||
Due Date | 2021/04/14 | |
Annual interest rate, From effective | 0.13% | |
Effective Date | 2020/01/01 | |
Unpaid principal balance | $ 279,405 | 134,010 |
Annual interest rate, Following maturity | 10.00% | |
Dr. Stephen T. Chen [Member] | 11.21 [Member] | ||
Due Date | 2021/05/01 | |
Annual interest rate, From effective | 1.85% | |
Effective Date | 2021/04/01 | |
Unpaid principal balance | $ 10,000 | |
Annual interest rate, Following maturity | 10.00% | |
Dr. Stephen T. Chen [Member] | 10.21 [Member] | ||
Due Date | 2021/04/01 | |
Annual interest rate, From effective | 1.85% | |
Effective Date | 2021/01/01 | |
Unpaid principal balance | $ 59,025 | |
Annual interest rate, Following maturity | 10.00% | |
Ainos KY [Member] | 12.21 [Member] | ||
Due Date | 2021/10/27 | |
Annual interest rate, From effective | 1.85% | |
Effective Date | 2021/04/27 | |
Unpaid principal balance | $ 15,000 | |
Ainos KY [Member] | 13.21 [Member] | ||
Due Date | 2021/11/05 | |
Annual interest rate, From effective | 1.85% | |
Effective Date | 2021/05/05 | |
Unpaid principal balance | $ 20,000 | |
Ainos KY [Member] | Total [Member] | ||
Unpaid principal balance | 981,000 | |
Convertible and other notes payable- related parties | $ 2,000,193 | 805,001 |
Ainos KY [Member] | 14.21 [Member] | ||
Due Date | 2021/11/25 | |
Annual interest rate, From effective | 1.85% | |
Effective Date | 2021/05/25 | |
Unpaid principal balance | $ 30,000 | |
Ainos KY [Member] | 15.21 [Member] | ||
Due Date | 2021/11/28 | |
Annual interest rate, From effective | 1.85% | |
Effective Date | 2021/05/28 | |
Unpaid principal balance | $ 35,000 | |
Ainos KY [Member] | 16.21 [Member] | ||
Due Date | 2021/12/09 | |
Annual interest rate, From effective | 1.85% | |
Effective Date | 2021/06/09 | |
Unpaid principal balance | $ 300,000 | |
Ainos KY [Member] | 17.21 [Member] | ||
Due Date | 2021/12/21 | |
Annual interest rate, From effective | 1.85% | |
Effective Date | 2021/06/21 | |
Unpaid principal balance | $ 107,000 | |
Ainos KY [Member] | 18.21 [Member] | ||
Due Date | 2022/01/02 | |
Annual interest rate, From effective | 1.85% | |
Effective Date | 2021/07/02 | |
Unpaid principal balance | $ 54,000 | |
Ainos KY [Member] | 19.21 [Member] | ||
Due Date | 2021/03/01 | |
Annual interest rate, From effective | 1.85% | |
Effective Date | 2021/09/01 | |
Unpaid principal balance | $ 120,000 | |
Ainos KY [Member] | 20.21 [Member] | ||
Due Date | 2021/03/28 | |
Annual interest rate, From effective | 1.85% | |
Effective Date | 2021/09/28 | |
Unpaid principal balance | $ 300,000 | |
i2China Management Group LLC [Member] | 11.21 [Member] | ||
Due Date | 2021/04/01 | |
Annual interest rate, From effective | 1.85% | |
Effective Date | 2021/01/01 | |
Unpaid principal balance | $ 37,000 | |
Annual interest rate, Following maturity | 10.00% | |
i2China Management Group LLC [Member] | 5.19 [Member] | ||
Due Date | 2020/09/01 | |
Annual interest rate, From effective | 1.85% | |
Effective Date | 2019/09/01 | |
Unpaid principal balance | $ 16,000 | 16,000 |
Annual interest rate, Following maturity | 10.00% | |
i2China Management Group LLC [Member] | Total [Member] | ||
Unpaid principal balance | $ 185,000 | 148,000 |
Convertible and other notes payable- related parties | $ 2,185,193 | 953,001 |
i2China Management Group LLC [Member] | 8b.20 [Member] | ||
Due Date | 2021/01/01 | |
Annual interest rate, From effective | 1.85% | |
Effective Date | Retroactive from 2020/01/01 | |
Unpaid principal balance | $ 84,000 | 84,000 |
Annual interest rate, Following maturity | 10.00% | |
i2China Management Group LLC [Member] | 8a.20 [Member] | ||
Due Date | 2021/01/01 | |
Annual interest rate, From effective | 1.85% | |
Effective Date | 2020/01/01 | |
Unpaid principal balance | $ 48,000 | $ 48,000 |
Annual interest rate, Following maturity | 10.00% |
Convertible Notes Payable and_4
Convertible Notes Payable and Oayable (Details 1) - USD ($) | 9 Months Ended | 12 Months Ended | |
Sep. 30, 2021 | Sep. 30, 2020 | Dec. 31, 2020 | |
Interest amount total | $ 9,363 | $ 4,895 | |
Dr. Stephen T. Chen [Member] | |||
Unpaid principal balance | $ 1,019,193 | $ 805,001 | |
Date | 3/18/2016 | ||
Interest rate original | 1.85% | ||
Interest amount original rate | $ 18,566 | ||
Interest amount 10% | 39,841 | ||
Interest amount total | 58,407 | ||
Interest after Maturity | 23,653 | ||
Interest waived | $ 34,754 | ||
Interest rate after maturity | 10.00% | ||
Dr. Stephen T. Chen [Member] | 2.16 [Member] | |||
Unpaid principal balance | $ 262,500 | 262,500 | |
Date | 3/18/2016 | ||
Interest rate original | 0.65% | ||
Interest amount original rate | $ 9,447 | ||
Interest amount 10% | 0 | ||
Interest amount total | 9,447 | ||
Interest after Maturity | 9,447 | ||
Interest waived | 0 | ||
Dr. Stephen T. Chen [Member] | 1.16 [Member] | |||
Unpaid principal balance | $ 114,026 | 114,026 | |
Date | 1/30/2016 | ||
Interest rate original | 0.75% | ||
Interest amount original rate | $ 5,624 | ||
Interest amount 10% | 0 | ||
Interest amount total | 5,624 | ||
Interest after Maturity | 5,624 | ||
Interest waived | 0 | ||
Dr. Stephen T. Chen [Member] | 3.19 [Member] | |||
Unpaid principal balance | $ 39,392 | 39,620 | |
Date | 9/1/2019(DS | ||
Interest rate original | 1.85% | ||
Interest amount original rate | $ 714 | ||
Interest amount 10% | 4,340 | ||
Interest amount total | 5,054 | ||
Interest after Maturity | 1,518 | ||
Interest waived | $ 3,536 | ||
Interest rate after maturity | 10.00% | ||
Dr. Stephen T. Chen [Member] | 4.19 [Member] | |||
Unpaid principal balance | $ 14,879 | 14,879 | |
Date | 12/1/2019(DE) | ||
Interest rate original | 1.61% | ||
Interest amount original rate | $ 257 | ||
Interest amount 10% | 1,132 | ||
Interest amount total | 1,389 | ||
Interest after Maturity | 439 | ||
Interest waived | $ 950 | ||
Interest rate after maturity | 10.00% | ||
Dr. Stephen T. Chen [Member] | 6.20 [Member] | |||
Unpaid principal balance | $ 216,600 | 216,600 | |
Date | 1/1/2020(DS) | ||
Interest rate original | 1.85% | ||
Interest amount original rate | $ 2,179 | ||
Interest amount 10% | 16,363 | ||
Interest amount total | 18,543 | ||
Interest after Maturity | 5,206 | ||
Interest waived | $ 13,336 | ||
Interest rate after maturity | 10.00% | ||
Dr. Stephen T. Chen [Member] | 7.20 [Member] | |||
Unpaid principal balance | $ 23,366 | 23,366 | |
Date | 1/1/2020(DE) | ||
Interest rate original | 1.60% | ||
Interest amount original rate | $ 1,753 | ||
Interest amount 10% | 72 | ||
Interest amount total | 1,825 | ||
Interest after Maturity | 352 | ||
Interest waived | $ 1,473 | ||
Interest rate after maturity | 10.00% | ||
Dr. Stephen T. Chen [Member] | 9.20 [Member] | |||
Unpaid principal balance | $ 279,405 | 134,010 | |
Date | 11/2020 (Open) | ||
Interest rate original | 0.13% | ||
Interest amount original rate | $ 81 | ||
Interest amount 10% | 12,864 | ||
Interest amount total | 12,945 | ||
Interest after Maturity | 248 | ||
Interest waived | $ 12,697 | ||
Interest rate after maturity | 10.00% | ||
Dr. Stephen T. Chen [Member] | 11.21 [Member] | |||
Unpaid principal balance | $ 10,000 | ||
Date | 4/1/2021(DS) | ||
Interest rate original | 0.65% | ||
Interest amount original rate | $ 15 | ||
Interest amount 10% | 420 | ||
Interest amount total | 435 | ||
Interest after Maturity | 93 | ||
Interest waived | $ 342 | ||
Interest rate after maturity | 10.00% | ||
Dr. Stephen T. Chen [Member] | 10.21 [Member] | |||
Unpaid principal balance | $ 59,025 | ||
Date | 1/1/2021(DS) | ||
Interest rate original | 1.85% | ||
Interest amount original rate | $ 178 | ||
Interest amount 10% | 2,968 | ||
Interest amount total | 3,146 | ||
Interest after Maturity | 725 | ||
Interest waived | $ 2,421 | ||
Interest rate after maturity | 10.00% | ||
i2China Management Group LLC [Member] | 11.21 [Member] | |||
Unpaid principal balance | $ 37,000 | ||
Date | 3/18/2016 | ||
Interest rate original | 1.85% | ||
Interest amount original rate | $ 107 | ||
Interest amount 10% | 1,860 | ||
Interest amount total | 1,967 | ||
Interest after Maturity | 450 | ||
Interest waived | $ 1,517 | ||
Interest rate after maturity | 10.00% | ||
i2China Management Group LLC [Member] | 5.19 [Member] | |||
Unpaid principal balance | $ 16,000 | 16,000 | |
Date | 9/1/2019 | ||
Interest rate original | 1.85% | ||
Interest amount original rate | $ 253 | ||
Interest amount 10% | 1,759 | ||
Interest amount total | 2,012 | ||
Interest after Maturity | 579 | ||
Interest waived | $ 1,433 | ||
Interest rate after maturity | 10.00% | ||
i2China Management Group LLC [Member] | Total [Member] | |||
Unpaid principal balance | $ 185,000 | 148,000 | |
Date | 3/18/2016 | ||
Interest amount original rate | $ 2,397 | ||
Interest amount 10% | 13,645 | ||
Interest amount total | 16,041 | ||
Interest after Maturity | 4,920 | ||
Interest waived | 11,121 | ||
i2China Management Group LLC [Member] | 8b.20 [Member] | |||
Unpaid principal balance | $ 84,000 | 84,000 | |
Date | 1/1/2020 | ||
Interest rate original | 1.85% | ||
Interest amount original rate | $ 1,554 | ||
Interest amount 10% | 6,399 | ||
Interest amount total | 7,953 | ||
Interest after Maturity | 2,738 | ||
Interest waived | $ 5,215 | ||
Interest rate after maturity | 10.00% | ||
i2China Management Group LLC [Member] | 8a.20 [Member] | |||
Unpaid principal balance | $ 48,000 | $ 48,000 | |
Date | 1/1/2020 | ||
Interest rate original | 1.85% | ||
Interest amount original rate | $ 483 | ||
Interest amount 10% | 3,626 | ||
Interest amount total | 4,109 | ||
Interest after Maturity | 1,154 | ||
Interest waived | $ 2,955 | ||
Interest rate after maturity | 10.00% |
Convertible Notes Payable and_5
Convertible Notes Payable and Oayable (Details Narrative) - USD ($) | 9 Months Ended | 12 Months Ended |
Sep. 30, 2021 | Dec. 31, 2020 | |
Convertible Notes Payable and Other Related Party Notes Payable (Tables) | ||
Accrued interest | $ 31,983 | $ 18,691 |
Total Convertible and other notes payable | $ 2,185,953 | $ 953,001 |
Related Party Transactions (Det
Related Party Transactions (Details) | 9 Months Ended |
Sep. 30, 2021USD ($) | |
Related Party | |
Related party debt | $ 1,033,272 |
Related Interest Expense | 11,433 |
Convertible Note | 2,185,193 |
Related parties | 31,983 |
I2China [member] | |
Related party debt | 37,000 |
Related Interest Expense | 2,087 |
Convertible Note | 185,000 |
Related parties | 4,920 |
Ainos KY [Member] | |
Related party debt | 981,000 |
Related Interest Expense | 3,410 |
Convertible Note | 981,000 |
Related parties | 3,410 |
Dr. Stephen T. Chen [Member] | |
Related party debt | 15,272 |
Related Interest Expense | 5,936 |
Convertible Note | 1,019,193 |
Related parties | $ 23,653 |
Related Party Transactions (D_2
Related Party Transactions (Details 1) | Jun. 30, 2021USD ($)$ / shares |
Shares | $ 59,295 |
Par Value | 593 |
Paid in Excess of Par | 35,907 |
Total amount | 36,500 |
Bernard Cohen [Member] | |
Shares | 53,419 |
Par Value | 534 |
Paid in Excess of Par | 32,799 |
Total amount | $ 33,333 |
Price per share | $ / shares | $ 0.6240 |
Dr. Stephen T. Chen [Member] | |
Shares | $ 5,876 |
Par Value | 58 |
Paid in Excess of Par | 3,107 |
Total amount | $ 3,166 |
Price per share | $ / shares | $ 0.5389 |
Related Party Transactions (D_3
Related Party Transactions (Details Narrative) | 9 Months Ended |
Sep. 30, 2021USD ($) | |
Other Related Party Transactions | |
Interest payable | $ 496 |
Inventory | 173,657 |
Accounts Payable | 122,680 |
Right of usee asset | 55,728 |
lease obligations | 55,908 |
Lease payment monthly | 1,785 |
Consulting fee | 7,215 |
Consulting fee payable | 6,671 |
Development expenses | 117,386 |
Account payable | $ 122,680 |
Subsequent Events (Details Narr
Subsequent Events (Details Narrative) | Nov. 01, 2021 |
Subsequent Event [Member] | |
Description of Consultant | The Company agrees to pay Dr. Chen 50,000 New Taiwan Dollars (NTD) per month for a period of one year for his services. With over 30 years of pharmaceutical professional experience |