Cover
Cover - shares | 3 Months Ended | |
Mar. 31, 2022 | May 16, 2022 | |
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 | Mar. 31, 2022 | |
Entity Filer Category | Non-accelerated Filer | |
Document Fiscal Period Focus | Q1 | |
Document Fiscal Year Focus | 2022 | |
Entity Common Stock Shares Outstanding | 144,379,308 | |
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 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets - USD ($) | Mar. 31, 2022 | Dec. 31, 2021 |
Current assets: | ||
Cash and cash equivalents | $ 1,871,349 | $ 1,751,499 |
Inventory | 337,805 | 0 |
Other current assets | 813,905 | 466,198 |
Total current assets | 3,023,059 | 2,217,697 |
Assets | ||
Intangible assets, net | 36,214,023 | 37,329,191 |
Property and equipment, net | 1,419,584 | 1,187,702 |
Other assets | 79,598 | 87,571 |
Total assets | 40,736,264 | 40,822,161 |
Current liabilities: | ||
Convertible notes payable | 3,376,526 | 3,376,526 |
Notes payable | 1,013,405 | 213,405 |
Accrued expenses and others current liabilities | 1,339,585 | 1,004,868 |
Payables - related party | 0 | 26,000,000 |
Total current liabilities | 5,729,516 | 30,594,799 |
Long term liabilities: | ||
Convertible notes payable - noncurrent | 26,900,000 | 0 |
Operating lease liabilities - noncurrent | 24,152 | 30,255 |
Total long term liabilities | 26,924,152 | 30,255 |
Total liabilities | 32,653,668 | 30,625,054 |
Stockholders' equity | ||
Preferred stock, $0.01 par value; 10,000,000 shares authorized; none issued | 0 | 0 |
Common stock, $0.01 par value; 300,000,000 shares authorized as of March 31, 2022 and December 31, 2021; 144,379,308 shares issued and outstanding as of March 31, 2022 and December 31, 2021 | 1,443,793 | 1,443,793 |
Additional paid-in capital | 18,899,873 | 18,856,430 |
Accumulated deficit | (12,208,811) | (10,108,916) |
Translation adjustment | (52,259) | 5,800 |
Total stockholders' equity | 8,082,596 | 10,197,107 |
Total liabilities and stockholders' equity | $ 40,736,264 | $ 40,822,161 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares | Mar. 31, 2022 | Dec. 30, 2021 |
Condensed Consolidated Balance Sheets | ||
Preferred stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Preferred stock, shares authorized (in shares) | 10,000,000 | 10,000,000,000,000 |
Preferred stock, shares issued (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) | 144,379,308 | 144,379,308 |
Common stock, shares outstanding (in shares) | 144,379,308 | 144,379,308 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations (Unaudited) - USD ($) | 3 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Condensed Consolidated Statements of Operations (Unaudited) | ||
Revenues | $ 87,200 | $ 2,121 |
Cost of revenues | (41,078) | (1,249) |
Gross margin | 46,122 | 872 |
Operating expenses: | ||
Research and development expenses | 1,577,454 | 0 |
Selling, general and administrative expenses | 551,730 | 522,981 |
Total operating expenses | 2,129,184 | 522,981 |
Operating loss | (2,083,062) | (522,109) |
Non-operating income and expenses, net | ||
Interest expenses, net | (16,687) | (11,897) |
Other losses | (146) | 0 |
Total non-operating income and expenses, net | (16,833) | (11,897) |
Net loss | $ (2,099,895) | $ (534,006) |
Basic and diluted net loss per average share available to common shareholders | $ (0.01) | $ (0.01) |
Weighted average common shares outstanding- basic and diluted | 144,379,308 | 42,066,172 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Comprehensive Loss (Unaudited) - USD ($) | 3 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Condensed Consolidated Statements of Comprehensive Loss (Unaudited) | ||
Net loss | $ (2,099,895) | $ (534,006) |
Other comprehensive loss: | ||
Translation adjustment | (58,059) | 0 |
Comprehensive loss | $ (2,157,954) | $ (534,006) |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Stockholders' Equity (Deficit) (Unaudited) - USD ($) | Total | Preferred Stock | Common Stock | Additional Paid-In Capital | Retained Earnings (Accumulated Deficit) | Other comprehensive loss [Member] |
Balance, shares at Dec. 31, 2020 | 42,066,172 | |||||
Balance, amount at Dec. 31, 2020 | $ (838,278) | $ 0 | $ 420,662 | $ 4,961,315 | $ (6,220,255) | |
Share-based compensation | 94,105 | 94,105 | ||||
Net loss | (534,006) | (534,006) | ||||
Balance, shares at Mar. 31, 2021 | 42,066,172 | |||||
Balance, amount at Mar. 31, 2021 | (1,278,179) | 0 | $ 420,662 | 5,055,420 | (6,754,261) | $ 0 |
Balance, shares at Dec. 31, 2021 | 144,379,308 | |||||
Balance, amount at Dec. 31, 2021 | 10,197,107 | 0 | $ 1,443,793 | 18,856,430 | (10,108,916) | 5,800 |
Share-based compensation | 43,443 | 0 | 43,443 | |||
Net loss | (2,099,895) | 0 | (2,099,895) | |||
Translation Adjustment | (58,059) | (58,059) | ||||
Balance, shares at Mar. 31, 2022 | 144,379,308 | |||||
Balance, amount at Mar. 31, 2022 | $ 8,082,596 | $ 0 | $ 1,443,793 | $ 18,899,873 | $ (12,208,811) | $ (52,259) |
Condensed Consolidated Statem_4
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) | 3 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Cash flows from operating activities: | ||
Net loss | $ (2,099,895) | $ (534,006) |
Adjustments to reconcile net loss to net cash used in operating. activities: | ||
Depreciation and amortization | 1,168,773 | 3,905 |
Share-based compensation expense | 43,443 | 94,105 |
Changes in operating assets and liabilities: | ||
Inventory | (337,805) | 3,024 |
Other current assets | (297,707) | 18,254 |
Accrued expenses and others current liabilities | 133,302 | 202,981 |
Net cash used in operating activities | (1,389,889) | (211,737) |
Cash flows from investing activities: | ||
Acquisition of property and equipment | (135,899) | 0 |
Net cash used in investing activities | (135,899) | 0 |
Cash flows from financing activities | ||
Proceeds from convertible notes payable | 850,000 | 236,854 |
Proceeds from notes payable | 800,000 | 0 |
Payments of other notes payable | 0 | (37,985) |
Payments of lease liabilities | (5,116) | 0 |
Net cash provided by financing activities | 1,644,884 | 198,869 |
Net change in cash | 119,096 | (12,868) |
Effect from foreign currency exchange | 754 | 0 |
Cash and cash equivalents at beginning of period | 1,751,499 | 22,245 |
Cash and cash equivalents at end of period | 1,871,349 | 9,377 |
Supplemental disclosures of noncash financing and investing activities | ||
Issuance of convertible notes for payables - related party | 26,000,000 | 0 |
Receivable of convertible notes issued | 50,000 | 0 |
Net change in equipment payable | $ 202,002 | $ 0 |
Organization and Business.
Organization and Business. | 3 Months Ended |
Mar. 31, 2022 | |
Organization and Business. | |
1. Organization and Business | 1. Organization and Business. |
Basis of presentation
Basis of presentation | 3 Months Ended |
Mar. 31, 2022 | |
Basis of presentation | |
2. Basis of presentation | 2. Basis of presentation. |
Financial Condition
Financial Condition | 3 Months Ended |
Mar. 31, 2022 | |
Financial Condition | |
3. Financial Condition | 3. Financial Condition. 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 include any adjustments relative to the recoverability and classification of asset carrying amounts or the amount and classification of liabilities that might result from the outcome of this uncertainty. 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. The issuances of additional equity securities by the Company may result in dilution in the equity interests of its current stockholders. Obtaining commercial loans, assuming those loans would be available, will increase the Company’s liabilities and future cash commitments. If the Company is unable to obtain financing in the amounts and on terms deemed acceptable, the business and future success may be adversely affected and the Company may cease operations. These factors raise substantial doubt regarding our ability to continue as a going concern. |
Common Stock
Common Stock | 3 Months Ended |
Mar. 31, 2022 | |
Common Stock | |
4. Common Stock | 4. Common Stock. We have not paid any dividends to our common stock shareholders to date, and have no plans to do so in the immediate future. |
Preferred Stock
Preferred Stock | 3 Months Ended |
Mar. 31, 2022 | |
Preferred Stock | |
5. Preferred stock | 5. Preferred Stock |
Current Convertible Notes Payab
Current Convertible Notes Payable and Other Related Party Notes Payable | 3 Months Ended |
Mar. 31, 2022 | |
Current Convertible Notes Payable and Other Related Party Notes Payable | |
6.Current Convertible Notes Payable and Other Related Party Notes Payable | 6. Current Convertible Notes Payable and Other Notes Payable. Payee No. Effective Date Due Date From Effective Following Maturity Conversion Rate Issuing Purpose As of 12/31/2021 Addition Payment As of 3/31/2022 Accrued Interest Current Convertible Notes Payable: Stephen Chen #1.16 1/30/2016 Payable on demand 0.75% N/A $ 0.17 working capital 114,026 - - 114,026 6,050 Stephen Chen #2.16 3/18/2016 Payable on demand 0.65% N/A $ 0.19 working capital 262,500 - - 262,500 10,298 376,526 - - 376,526 16,348 Ainos KY #12.21 4/27/2021 2/28/2023 (1) 1.85% N/A $ 0.20 working capital 15,000 - - 15,000 257 Ainos KY #13.21 5/5/2021 2/28/2023 (1) 1.85% N/A $ 0.20 working capital 20,000 - - 20,000 335 Ainos KY #14.21 5/25/2021 2/28/2023 (1) 1.85% N/A $ 0.20 working capital 30,000 - - 30,000 471 Ainos KY #15.21 5/28/2021 2/28/2023 (1) 1.85% N/A $ 0.20 working capital 35,000 - - 35,000 545 Ainos KY #16.21 6/9/2021 2/28/2023 (1) 1.85% N/A $ 0.20 working capital 300,000 - - 300,000 4,486 Ainos KY #17.21 6/21/2021 2/28/2023 (1) 1.85% N/A $ 0.20 working capital 107,000 - - 107,000 1,535 Ainos KY #18.21 7/2/2021 2/28/2023 (1) 1.85% N/A $ 0.20 working capital 54,000 - - 54,000 744 Ainos KY #19.21 9/1/2021 2/28/2023 (1) 1.85% N/A $ 0.20 working capital 120,000 - - 120,000 1,289 Ainos KY #20.21 9/28/2021 2/28/2023 (1) 1.85% N/A $ 0.20 working capital 300,000 - - 300,000 2,798 Ainos KY #21.21 11/10/2021 2/28/2023 (1) 1.85% N/A $ 0.20 working capital 50,000 - - 50,000 357 Ainos KY #22.21 11/25/2021 2/28/2023 (1) 1.85% N/A $ 0.20 working capital 450,000 - - 450,000 2,851 Ainos KY #23.21 11/29/2021 2/28/2023 (1) 1.85% N/A $ 0.20 working capital 300,000 - - 300,000 1,840 Ainos KY #24.21 12/29/2021 2/28/2023 (1) 1.85% N/A $ 0.20 working capital 1,219,000 - - 1,219,000 5,684 3,000,000 - - 3,000,000 23,192 Total convertible notes payable- related parties 3,376,526 - - 3,376,526 39,540 Non-Convertible Notes Payable: Stephen Chen #9.21 1/1/2021 4/14/2021 0.13% N/A N/A working capital 129,405 - - 129,405 354 Ainos KY #26.22 (2) 3/4/2022 3/31/2023 1.85% N/A N/A working capital - 800,000 - 800,000 1,135 Non-convertible notes payable-related party 129,405 800,000 - 929,405 1,489 i2 China #8b.20 1/1/2020 1/1/2021 1.85% N/A N/A consulting fee 84,000 - - 84,000 3,527 Non-Convertible Notes payable- non-related party 84,000 84,000 3,527 Total non-convertible notes payable 213,405 800,000 - 1,013,405 5,016 Total convertible and non-convertible 3,589,931 800,000 - 4,389,931 44,556 Notes: (1) On March 17, 2022, we executed a Promissory Note Extension Agreement with Ainos KY in which the due dates for certain convertible notes enumerated as #12.21 to #24.21 issued by the Company to Ainos KY were extended to February 28, 2023. The total unpaid principal for these extended period convertible notes amount to $3,000,000 in the aggregate. (2) On March 11, 2022, the Board approved a Non-Convertible Note dated March 4, 2022 in favor of Ainos KY with a principal amount of $800,000, interest of 1.85% per annum on unpaid principal and accrued interest, and a maturity date of February 28, 2023. The Note includes standard provisions for notice, default, and remedies for default. All of the aforementioned convertible promissory notes and other notes payable are unsecured and due on demand upon maturity. The Company may prepay the notes in whole or in part at any time. The holder of convertible notes has the option to convert some or all of the unpaid principal and accrued interest to our common voting stock. The total interest expense of convertible notes payable and other notes payable for the three months ended March 31, 2022 and as of December 31 2021 was $15,883 and $11,897 respectively; the cumulative related accrued interest as of March 31, 2022 and December 31, 2021 were $44,556 and $28,673, respectively. |
Non-Current Convertible Notes P
Non-Current Convertible Notes Payable | 3 Months Ended |
Mar. 31, 2022 | |
Non-Current Convertible Notes Payable | |
7.Non-Current Convertible Notes Payable | 7. Non-Current Convertible Notes Payable. On January 30, 2022, we issued to Ainos KY a Convertible Promissory Note in the principal amount of $26,000,000 (the “APA Convertible Note”) for the Asset Purchase Transaction as more particularly described below in Item 8 in these Notes to Financial Statements. The principal sum of the APA Convertible Note is payable in cash on January 30, 2027, although we may prepay the APA Convertible Note in whole or in part without penalty. The APA Convertible Note is noninterest bearing. If not earlier repaid, the APA Convertible Note will be converted into shares of our common stock or such other securities or property for which the APA Convertible Note may become convertible, immediately prior to the closing of any public offering of our common stock as a result of which our common stock will be listed on a U.S. stock exchange. The conversion price, subject to certain adjustments, will be 80% of the initial public offering price of the offering. Convertible Note Offering Pursuant to Regulation S The Company issued Convertible Notes pursuant to certain Convertible Note Purchase Agreements under Regulation S. The transactions are more particularly described below: · $50,000 Convertible Note issued on March 31, 2022 to Yun-Han Liao. The purchaser is the daughter of Wu Hui-Lan, the Company’s Chief Financial Officer (the “Liao Convertible Note”). · $850,000 aggregate Convertible Notes issues on March 28, 2022 to Chih-Cheng Tsai, Ming-Hsien Lee, Yu-Yuan Hsu, and Top Calibre Corporation, a British Virgin Islands company (collectively the “Regulation S Notes”). · The Liao Convertible Note and the Regulation S Notes are collectively referred to as the “Convertible Notes”. The Principal Amount of the Convertible Notes are payable in cash on March 30, 2027, although the Company may prepay the Convertible Notes in whole or in part without penalty. The Convertible Notes are non-interest bearing. If not earlier repaid, the Convertible Notes will be converted into shares of common stock, $0.01 par value per share of the Company, or such other securities or property for which the Convertible Notes may become convertible, immediately prior to the closing of any public offering of the Company’s common stock as result of which the Company’s common stock will be listed on a U.S. stock exchange. The conversion price, subject to certain adjustments, will be eighty percent (80%) of the initial public offering price of the offering. |
Related Party Transactions
Related Party Transactions | 3 Months Ended |
Mar. 31, 2022 | |
Related Party Transactions | |
8.Related Party Transactions | 8. Related Party Transactions. Asset Purchase Agreement Ainos KY and the Company entered into an Asset Purchase Agreement dated as of November 18, 2021(the “Asset Purchase Agreement”), as modified by an Amended and Restated Asset Purchase Agreement dated as of January 29, 2022 (the “Amended Asset Purchase Agreement”). Pursuant to the Asset Purchase Agreement, the Company acquired certain intellectual property assets and certain manufacturing, testing, and office equipment for a total purchase price of $26,000,000. Pursuant to the Asset Purchase Agreement, the Company agreed to hire certain employees of Ainos KY who are responsible for research and development of the IP Assets and/or Equipment on terms at least equal to the compensation arrangements undertaken by Ainos KY. From and after the closing, we will have no responsibility, duty or liability with respect to any employee benefit plans of Ainos KY. As payment of the purchase price, we issued to Ainos KY a Convertible Promissory Note in the principal amount of $26,000,000 upon closing on January 30, 2022 (the “APA Convertible Note”). Refer to Note 7 of the Notes to Financial Statements for more information. Related Party Working Capital All convertible and other notes payable were issued either as a result of financing or deferred compensation provided by related parties. As of March 31, 2022 and December 31, 2021, the convertible and non-convertible notes payable for related parties totaled $4,355,931 and $3,505,931, respectively. Refer to Note 6 and 7 of the Notes to Financial Statements for more information. Purchase related to COVID-19 Antigen Rapid Test Kits We incurred costs associated with finished goods, raw materials and manufacturing fees for Covid-19 antigen rapid test kits from TCNT pursuant to a Sales and Marketing Agreement, totaling $386,412 for the three months ended March 31, 2022. There were no purchases from TCNT during the same period last year. Product Co-development Agreement Pursuant to the five-year product co-development agreement effective on August 1, 2021 with TCNT (the “Product Co-Development Agreement”) we incurred development expenses totaling $167,422 for the three months ended March 31, 2022 of which $109,131 is in accrued payable as of March 31, 2022. Promissory Note Extension Agreement On March 17, 2022, we executed a Promissory Note Extension Agreement with Ainos KY in which the due dates for certain convertible notes enumerated as #12.21 to #24.21 issued by the Company to Ainos KY were extended to February 28, 2023 (the “Promissory Note Extension Agreement”). The total unpaid principal for these extended period convertible notes amount to $3,000,000 in the aggregate. Refer to Footnote 1 of Note 6 of the Notes to Financial Statements for more information. |
Subsequent Events
Subsequent Events | 3 Months Ended |
Mar. 31, 2022 | |
Subsequent Events | |
8. Subsequent Events | 9. Subsequent Events. On April 11, 2022, we issued to ASE Test Inc., a minority owner of Ainos KY, a convertible note in the principal amount of $500,000 due on March 30, 2027 (the “ASE Note”). The convertible note will automatically convert into shares of our common stock immediately prior to the closing of any public offering of our common stock as a result of which our common stock will be listed on a U.S. stock exchange. The conversion price, subject to certain adjustments, will be 80% of the initial public offering price of the offering. |
Current Convertible Notes Pay_2
Current Convertible Notes Payable and Other Notes Payable (Table) | 3 Months Ended |
Mar. 31, 2022 | |
Current Convertible Notes Payable and Other Related Party Notes Payable | |
Convertible Notes Payable | Payee No. Effective Date Due Date From Effective Following Maturity Conversion Rate Issuing Purpose As of 12/31/2021 Addition Payment As of 3/31/2022 Accrued Interest Current Convertible Notes Payable: Stephen Chen #1.16 1/30/2016 Payable on demand 0.75% N/A $ 0.17 working capital 114,026 - - 114,026 6,050 Stephen Chen #2.16 3/18/2016 Payable on demand 0.65% N/A $ 0.19 working capital 262,500 - - 262,500 10,298 376,526 - - 376,526 16,348 Ainos KY #12.21 4/27/2021 2/28/2023 (1) 1.85% N/A $ 0.20 working capital 15,000 - - 15,000 257 Ainos KY #13.21 5/5/2021 2/28/2023 (1) 1.85% N/A $ 0.20 working capital 20,000 - - 20,000 335 Ainos KY #14.21 5/25/2021 2/28/2023 (1) 1.85% N/A $ 0.20 working capital 30,000 - - 30,000 471 Ainos KY #15.21 5/28/2021 2/28/2023 (1) 1.85% N/A $ 0.20 working capital 35,000 - - 35,000 545 Ainos KY #16.21 6/9/2021 2/28/2023 (1) 1.85% N/A $ 0.20 working capital 300,000 - - 300,000 4,486 Ainos KY #17.21 6/21/2021 2/28/2023 (1) 1.85% N/A $ 0.20 working capital 107,000 - - 107,000 1,535 Ainos KY #18.21 7/2/2021 2/28/2023 (1) 1.85% N/A $ 0.20 working capital 54,000 - - 54,000 744 Ainos KY #19.21 9/1/2021 2/28/2023 (1) 1.85% N/A $ 0.20 working capital 120,000 - - 120,000 1,289 Ainos KY #20.21 9/28/2021 2/28/2023 (1) 1.85% N/A $ 0.20 working capital 300,000 - - 300,000 2,798 Ainos KY #21.21 11/10/2021 2/28/2023 (1) 1.85% N/A $ 0.20 working capital 50,000 - - 50,000 357 Ainos KY #22.21 11/25/2021 2/28/2023 (1) 1.85% N/A $ 0.20 working capital 450,000 - - 450,000 2,851 Ainos KY #23.21 11/29/2021 2/28/2023 (1) 1.85% N/A $ 0.20 working capital 300,000 - - 300,000 1,840 Ainos KY #24.21 12/29/2021 2/28/2023 (1) 1.85% N/A $ 0.20 working capital 1,219,000 - - 1,219,000 5,684 3,000,000 - - 3,000,000 23,192 Total convertible notes payable- related parties 3,376,526 - - 3,376,526 39,540 Non-Convertible Notes Payable: Stephen Chen #9.21 1/1/2021 4/14/2021 0.13% N/A N/A working capital 129,405 - - 129,405 354 Ainos KY #26.22 (2) 3/4/2022 3/31/2023 1.85% N/A N/A working capital - 800,000 - 800,000 1,135 Non-convertible notes payable-related party 129,405 800,000 - 929,405 1,489 i2 China #8b.20 1/1/2020 1/1/2021 1.85% N/A N/A consulting fee 84,000 - - 84,000 3,527 Non-Convertible Notes payable- non-related party 84,000 84,000 3,527 Total non-convertible notes payable 213,405 800,000 - 1,013,405 5,016 Total convertible and non-convertible 3,589,931 800,000 - 4,389,931 44,556 |
Common Stock (Details Narrative
Common Stock (Details Narrative)) - shares | Mar. 31, 2022 | Dec. 30, 2021 |
Common Stock, Shares, Issued, Total | 144,379,308 | 144,379,308 |
Common Stocks [Member] | ||
Common Stock, Shares Outstanding And Reserved | 26,900,000 | |
RSUs for non-employee directors | 1,320,000,000,000 | |
Reserved For Conversion Of Convertible Debt To Stock | 144,379,308 | |
Future Exercise Of Stock Options | 550,000 | |
Shares Reserved For Warrant Conversion | 452,617 | |
Common Stock, Capital Shares Reserved For Future Issuance | 17,285,625 | |
Common Stock, Shares Authorized | 300,000,000 | |
Common Stock, Shares, Issued, Total | 163,987,550 |
Preferred Stock (Details Narrat
Preferred Stock (Details Narrative) - shares | Mar. 31, 2022 | Dec. 30, 2021 |
Common Stock | ||
Preferred Stock, Shares Authorized | 10,000,000 | 10,000,000,000,000 |
Current Convertible Notes Pay_3
Current Convertible Notes Payable and Other Notes Payable (Details) - USD ($) | 3 Months Ended | 12 Months Ended |
Mar. 31, 2022 | Dec. 31, 2021 | |
Total convertible and non-convertible | $ 4,389,931 | $ 3,589,931 |
Total non-convertible notes payable | 1,013,405 | 213,405 |
Total non-convertible notes payable accrued interest | 5,016 | |
Total non-convertible notes payable addition | 800,000 | |
Total convertible and non-convertible addition | 800,000 | |
Total convertible and non-convertible Payment | 0 | |
Total convertible and non-convertible accrued | 44,556 | |
Non-convertible notes payable-related party | 929,405 | 129,405 |
Non-convertible notes payable-related party accrued interest | 1,489 | |
Non-convertible notes payable-related party addition | 800,000 | |
12.21 [Member] | Ainos KY [Member] | ||
Accrued Interest | $ 257 | |
Due Date | 2/28/2023 | |
Annual interest rate, From effective | 1.85% | |
Effective Date | 4/27/2021 | |
Unpaid principal balance | $ 15,000 | 15,000 |
Conversion rate | $ 0.20 | |
Addition | $ 0 | |
13.21 [Member] | Ainos KY [Member] | ||
Accrued Interest | $ 335 | |
Due Date | 2/28/2023 | |
Annual interest rate, From effective | 1.85% | |
Effective Date | 5/5/2021 | |
Unpaid principal balance | $ 20,000 | 20,000 |
Conversion rate | $ 0.20 | |
Addition | $ 0 | |
14.21 [Member] | Ainos KY [Member] | ||
Accrued Interest | $ 471 | |
Due Date | 2/28/2023 | |
Annual interest rate, From effective | 1.85% | |
Effective Date | 5/25/2021 | |
Unpaid principal balance | $ 30,000 | 30,000 |
Conversion rate | $ 0.20 | |
Addition | $ 0 | |
15.21 [Member] | Ainos KY [Member] | ||
Accrued Interest | $ 545 | |
Due Date | 2/28/2023 | |
Annual interest rate, From effective | 1.85% | |
Effective Date | 5/28/2021 | |
Unpaid principal balance | $ 35,000 | 35,000 |
Conversion rate | $ 0.20 | |
Addition | $ 0 | |
16.21 [Member] | Ainos KY [Member] | ||
Accrued Interest | $ 4,486 | |
Due Date | 2/28/2023 | |
Annual interest rate, From effective | 1.85% | |
Effective Date | 6/9/2021 | |
Unpaid principal balance | $ 300,000 | 300,000 |
Conversion rate | $ 0.20 | |
Addition | $ 0 | |
17.21 [Member] | Ainos KY [Member] | ||
Accrued Interest | $ 1,535 | |
Due Date | 2/28/2023 | |
Annual interest rate, From effective | 1.85% | |
Effective Date | 6/21/2021 | |
Unpaid principal balance | $ 107,000 | 107,000 |
Conversion rate | $ 0.20 | |
Addition | $ 0 | |
18.21 [Member] | Ainos KY [Member] | ||
Accrued Interest | $ 744 | |
Due Date | 2/28/2023 | |
Annual interest rate, From effective | 1.85% | |
Effective Date | 7/2/2021 | |
Unpaid principal balance | $ 54,000 | 54,000 |
Addition | $ 0 | |
Conversion Note | $ 0.20 | |
19.21 [Member] | Ainos KY [Member] | ||
Accrued Interest | $ 1,289 | |
Due Date | 2/28/2023 | |
Annual interest rate, From effective | 1.85% | |
Effective Date | 9/1/2021 | |
Unpaid principal balance | $ 120,000 | 120,000 |
Addition | $ 0 | |
Conversion Note | $ 0.20 | |
20.21 [Member] | Ainos KY [Member] | ||
Accrued Interest | $ 2,798 | |
Due Date | 2/28/2023 | |
Annual interest rate, From effective | 1.85% | |
Effective Date | 9/28/2021 | |
Unpaid principal balance | $ 300,000 | 300,000 |
Addition | $ 0 | |
Conversion Note | $ 0.20 | |
21.21 [Member] | Ainos KY [Member] | ||
Accrued Interest | $ 357 | |
Due Date | 2/28/2023 | |
Annual interest rate, From effective | 1.85% | |
Effective Date | 11/10/2021 | |
Unpaid principal balance | $ 50,000 | 50,000 |
Conversion rate | $ 0.20 | |
Addition | $ 0 | |
22.21[Member] | Ainos KY [Member] | ||
Accrued Interest | $ 2,851 | |
Due Date | 2/28/2023 | |
Annual interest rate, From effective | 1.85% | |
Effective Date | 11/25/2021 | |
Unpaid principal balance | $ 450,000 | 450,000 |
Conversion rate | $ 0.20 | |
Addition | $ 0 | |
23.21[Member] | Ainos KY [Member] | ||
Accrued Interest | $ 1,840 | |
Due Date | 2/28/2023 | |
Annual interest rate, From effective | 1.85% | |
Effective Date | 11/29/2021 | |
Unpaid principal balance | $ 300,000 | 300,000 |
Conversion rate | $ 0.20 | |
Addition | $ 0 | |
24.21[Member] | Ainos KY [Member] | ||
Accrued Interest | $ 5,684 | |
Due Date | 2/28/2023 | |
Annual interest rate, From effective | 1.85% | |
Effective Date | 12/29/2021 | |
Unpaid principal balance | $ 1,219,000 | 1,219,000 |
Conversion rate | $ 0.20 | |
Addition | $ 0 | |
Total [Member] | ||
Convertible and other notes payable- related parties | 3,376,526 | 3,376,526 |
Accrued Interest- related parties | 39,540 | |
Total [Member] | Ainos KY [Member] | ||
Accrued Interest | 23,192 | |
Unpaid principal balance | 3,000,000 | 3,000,000 |
Payment | 0 | |
Addition | 0 | |
26.22[Member] | Ainos KY [Member] | ||
Accrued Interest | $ 1,135 | |
Due Date | 3/31/2023 | |
Annual interest rate, From effective | 1.85% | |
Effective Date | 3/4/2022 | |
Unpaid principal balance | $ 800,000 | |
Addition | 800,000 | |
Dr. Stephen T. Chen [Member] | ||
Accrued Interest | 16,348 | |
Unpaid principal balance | 376,526 | 376,526 |
Payment | 0 | |
Addition | 0 | |
Dr. Stephen T. Chen [Member] | 1.16 [Member] | ||
Accrued Interest | $ 6,050 | |
Due Date | Payable on demand | |
Annual interest rate, From effective | 0.75% | |
Effective Date | 1/30/2016 | |
Unpaid principal balance | $ 114,026 | 114,026 |
Conversion rate | $ 0.17 | |
Dr. Stephen T. Chen [Member] | 2.16 [Member] | ||
Accrued Interest | $ 10,298 | |
Due Date | Payable on demand | |
Annual interest rate, From effective | 0.65% | |
Effective Date | 3/18/2016 | |
Unpaid principal balance | $ 262,500 | 262,500 |
Conversion rate | $ 0.19 | |
i2China Management Group LLC [Member] | Total [Member] | ||
Accrued Interest | $ 3,527 | |
Unpaid principal balance | 84,000 | 84,000 |
i2China Management Group LLC [Member] | 9.21 [Member] | ||
Accrued Interest | $ 354 | |
Due Date | 4/14/2021 | |
Annual interest rate, From effective | 0.13% | |
Effective Date | 1/1/2021 | |
Unpaid principal balance | $ 129,405 | 129,405 |
Payment | $ 0 | |
Annual interest rate, Following maturity | 10.00% | |
i2China Management Group LLC [Member] | 8b.20 [Member] | ||
Accrued Interest | $ 3,527 | |
Due Date | 1/1/2021 | |
Annual interest rate, From effective | 1.85% | |
Effective Date | 1/1/2020 | |
Annual interest rate, Following maturity | 10.00% | |
consulting fee | $ 84,000 | $ 84,000 |
Current Convertible Notes Pay_4
Current Convertible Notes Payable and Other Notes Payable (Details Narrative) - USD ($) | Mar. 11, 2022 | Mar. 31, 2022 | Dec. 31, 2021 |
Current Convertible Notes Payable and Other Related Party Notes Payable | |||
Total Convertible and other notes payable | $ 4,389,931 | $ 3,589,931 | |
Total interest expense | 15,883 | 11,897 | |
Cumulative related accrued interest | 44,556 | $ 28,673 | |
Principal amount | $ 800,000 | 26,000,000 | |
Convertible notes | $ 3,000,000 |
Non-Current Convertible Notes_2
Non-Current Convertible Notes Payable (Details Narrative) - USD ($) | 3 Months Ended | 24 Months Ended | |
Mar. 31, 2022 | Dec. 31, 2021 | Mar. 28, 2022 | |
Non-Current Convertible notes payable | $ 26,900,000 | $ 0 | |
Conversion Price Per Shares | $ 0.01 | ||
Convertible Promissory Note | $ 26,000,000 | ||
Yun Han Liao [Member] | |||
Convertible note issued | $ 50,000 | ||
Chih Heng Tsai [Member] | |||
Convertible note issued | $ 850,000 |
Related Party Transactions (Det
Related Party Transactions (Details Narrative) - USD ($) | Mar. 11, 2022 | Mar. 31, 2022 | Dec. 31, 2021 |
Related Party Transactions | |||
Non convertible notes payable | $ 4,355,931 | $ 3,505,931 | |
Covid-19 Antigen Rapid Test Kits | 386,412 | ||
Principal amount | $ 800,000 | 26,000,000 | |
Development expenses | 167,422 | ||
Purchase price | 26,000,000 | ||
accrued payable | 109,131 | ||
Convertible notes | $ 3,000,000 |
Subsequent Events (Details Narr
Subsequent Events (Details Narrative) - USD ($) | Mar. 30, 2027 | Mar. 31, 2022 |
Convertible Promissory Note Principal Amount | $ 26,000,000 | |
Subsequent Event [Member] | ||
Convertible Promissory Note Principal Amount | $ 500,000 | |
Initial Public Offering Price Of The Offering Percentage | 80.00% |