RenovaCare (RCAR) 10-Q 18 Nov 22 2022 Q3 Quarterly report Financial data

Cover

Cover - shares	9 Months Ended
	Sep. 30, 2022	Nov. 10, 2022
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Sep. 30, 2022
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2022
Current Fiscal Year End Date	--12-31
Entity File Number	000-30156
Entity Registrant Name	RENOVACARE, INC.
Entity Central Index Key	0001016708
Entity Tax Identification Number	98-0384030
Entity Incorporation, State or Country Code	NV
Entity Address, Address Line One	9375 E. Shea Blvd.
Entity Address, Address Line Two	Suite 107-A
Entity Address, City or Town	Scottsdale
Entity Address, State or Province	AZ
Entity Address, Postal Zip Code	85260
City Area Code	888
Local Phone Number	398-0202
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		87,352,364

CONSOLIDATED BALANCE SHEETS (Un

CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)	Sep. 30, 2022	Dec. 31, 2021
Current assets
Cash	$ 100,738	$ 2,849,192
Prepaid expenses	954,636	533,445
Total current assets	1,055,374	3,382,637
Equipment, net of accumulated depreciation of $0 and $12,952, respectively		29,271
Intangible asset		152,854
Security Deposit		7,995
Right of Use Asset		28,630
Other Assets		50,747
Total assets	1,055,374	3,652,134
Current liabilities
Accounts payable and accrued liabilities	838,240	1,274,748
Related party payables	872,466
Lease liability - current		30,497
Total current liabilities	1,710,706	1,305,245
Convertible promissory note to related party	800,000
Interest payable on convertible promissory note to related party	4,367
Total liabilities	2,515,073	1,305,245
Stockholders' equity (deficit)
Preferred stock: $0.0001 par value; 10,000,000 shares authorized, no shares issued and outstanding
Common stock: $0.00001 par value; 500,000,000 shares authorized, 87,352,364 shares issued and outstanding at September 30, 2022 and December 31, 2021	874	874
Additional paid-in capital	37,178,669	36,585,919
Retained deficit	(38,639,242)	(34,239,904)
Total stockholders' equity (deficit)	(1,459,699)	2,346,889
Total liabilities and stockholders' equity (deficit)	$ 1,055,374	$ 3,652,134

CONSOLIDATED BALANCE SHEETS (_2

CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) - USD ($)	Sep. 30, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Accumulated depreciation	$ 0	$ 12,952
Preferred stock, par value	$ 0.0001	$ 0.0001
Preferred stock, Authorized	10,000,000	10,000,000
Preferred stock, shares Issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.00001	$ 0.00001
Common stock, Authorized	500,000,000	500,000,000
Common stock, shares Issued	87,352,364	87,352,364
Common stock, shares outstanding	87,352,364	87,352,364

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Income Statement [Abstract]
Revenue
Operating expenses
Research and development	388,082	744,625	1,363,739	2,503,487
General and administrative	1,489,273	955,899	4,385,085	819,665
Total operating expenses, net	1,877,355	1,700,524	5,748,824	3,323,152
Loss from operations	(1,877,355)	(1,700,524)	(5,748,824)	(3,323,152)
Other income
Interest income	288	2,239	1,659	4,861
Other income	1,498,307		1,524,674	190,803
Interest expense	(2,053)		(4,367)
Impairment of intangible asset			(152,854)
Loss on disposal of fixed assets	(19,626)		(19,626)
Total other income	1,476,916	2,399	1,349,486	195,664
Net loss	$ (400,439)	$ (1,698,285)	$ (4,399,338)	$ (3,127,488)
Basic and Diluted Loss per Common Share	$ 0	$ (0.02)	$ (0.05)	$ (0.04)
Weighted average number of common shares outstanding - basic and diluted	87,352,364	87,352,364	87,352,364	87,352,364

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Unaudited) - USD ($)	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Total
Beginning balance, value at Dec. 31, 2020	$ 874	$ 36,846,082	$ (29,768,181)	$ 7,078,775
Beginning balance, shares at Dec. 31, 2020	87,352,364
Stock based compensation due to common stock purchase options		352,063		352,063
Reversal of stock based compensation due to common stock purchase option cancellations		(1,248,575)		(1,248,575)
Net loss			(517,242)	(517,242)
Ending balance, value at Mar. 31, 2021	$ 874	35,949,570	(30,285,423)	5,665,021
Ending balance, shares at Mar. 31, 2021	87,352,364
Stock based compensation due to common stock purchase options		243,979		243,979
Reversal of stock based compensation due to common stock purchase option cancellations		(66,130)		(66,130)
Net loss			(911,961)	(911,961)
Ending balance, value at Jun. 30, 2021	$ 874	36,127,419	(31,197,384)	4,930,909
Ending balance, shares at Jun. 30, 2021	87,352,364
Stock based compensation due to common stock purchase options		246,250		246,250
Net loss			(1,698,285)	(1,698,285)
Ending balance, value at Sep. 30, 2021	$ 874	36,373,669	(32,895,669)	3,478,874
Ending balance, shares at Sep. 30, 2021	87,352,364
Beginning balance, value at Dec. 31, 2021	$ 874	36,585,919	(34,239,904)	2,346,889
Beginning balance, shares at Dec. 31, 2021	87,352,364
Stock based compensation due to common stock purchase options		201,250		201,250
Net loss			(1,727,334)	(1,727,334)
Ending balance, value at Mar. 31, 2022	$ 874	36,787,169	(35,967,238)	820,805
Ending balance, shares at Mar. 31, 2022	87,352,364
Stock based compensation due to common stock purchase options		195,750		195,750
Net loss			(2,271,565)	(2,271,565)
Ending balance, value at Jun. 30, 2022	$ 874	36,982,919	(38,238,803)	(1,255,010)
Ending balance, shares at Jun. 30, 2022	87,352,364
Stock based compensation due to common stock purchase options		195,750		195,750
Net loss			(400,439)	(400,439)
Ending balance, value at Sep. 30, 2022	$ 874	$ 37,178,669	$ (38,639,242)	$ (1,459,699)
Ending balance, shares at Sep. 30, 2022	87,352,364

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Cash flows used in operating activities
Net loss	$ (4,399,338)	$ (3,127,488)
Adjustments to reconcile net loss to net cash flows used in operating activities
Depreciation expense	4,645	7,046
Stock based compensation expense	730,497	(407,163)
Impairment of intangible asset	152,854
Non cash lease (benefit) expense	(1,867)	1,753
Loss on disposal of fixed assets	19,626
Changes in operating assets and liabilities:
(Increase) decrease in prepaid expenses and other assets	(500,196)	101,960
Increase (decrease) in accounts payable	(436,508)	(567,312)
Increase (decrease) in related party accounts payable	872,466
Increase (decrease) in related party interest payable	4,367
Net cash flows used in operating activities	(3,553,454)	(3,991,204)
Cash flows from investing activity
Proceeds from the sale of fixed assets	5,000
Net cash flows from investing activity	5,000
Cash flows from financing activities
Proceeds from the issuance of a related party convertible promissory note	800,000
Net cash flows from financing activities	800,000
Decrease in cash	(2,748,454)	(3,991,204)
Cash at beginning of period	2,849,192	7,412,969
Cash at end of period	$ 100,738	$ 3,421,765

Basis of Presentation, Organiza

Basis of Presentation, Organization, Going Concern, Recent Accounting Standards and Earnings (Loss) Per Share	9 Months Ended
	Sep. 30, 2022
Accounting Policies [Abstract]
Basis of Presentation, Organization, Going Concern, Recent Accounting Standards and Earnings (Loss) Per Share	Note 1. Basis of Presentation, Organization, Going Concern, Recent Accounting Standards and Earnings (Loss) Per Share Basis of Presentation The accompanying unaudited interim consolidated financial statements of RenovaCare, Inc. and Subsidiary (“RenovaCare” or the “ Company SEC U.S. GAAP The accompanying unaudited interim Consolidated Financial Statements have been prepared in accordance with U.S. GAAP, which requires management to make estimates and assumptions that affect amounts reported in the Consolidated Financial Statements and accompanying disclosures. Actual results may differ from those estimates. The accompanying unaudited interim consolidated financial statements have been prepared on the same basis as the audited financial statements and include all adjustments (including normal recurring adjustments) that are, in the opinion of management, necessary for a fair presentation of the Company’s consolidated financial position as of September 30, 2022, results of operations and stockholders’ equity for the three and nine months ended September 30, 2022 and 2021, and cash flows for the nine months ended September 30, 2022 and 2021. The Company did not record an income tax provision during the periods presented due to net taxable losses. The results of operations for any interim period are not necessarily indicative of the results of operations for the entire year. Organization RenovaCare, Inc., formerly Janus Resources, is a Nevada July 14, 1983 The Company has an authorized capital of 500,000,000 0.00001 87,352,364 10,000,000 0.0001 none RenovaCare, Inc., through its wholly owned subsidiary, RenovaCare Sciences Corp. is a development-stage company focusing on the research, development and commercialization of autologous (using a patient’s own cells) cellular therapies that can be used for medical and aesthetic applications. On July 12, 2013, the Company completed the acquisition of its flagship technologies (collectively, the “ CellMist TM The CellMist™ System is a cell isolation procedure that enzymatically renders stem cells from the patient’s own skin or other tissues. The resulting stem cell suspension is administered topically from SkinGun TM as a cell therapy onto wounds including burns to facilitate healing. Currently, the Company’s proprietary technologies are the subject of forty-four (44) U.S. and foreign granted or pending patents or patent applications and seventeen (17) U.S. and foreign trademarks. Of the issued patents, five (5) are U.S. patents and seventeen (17) have issued or are allowed in Australia, Canada, China, Europe, Germany, France, Italy, Japan, Korea, Netherlands, Spain, Switzerland/Liechtenstein, and the United Kingdom. The Company does not have any commercialized products. The Company's activities have consisted principally of performing research and development activities and raising capital to support such activities. The Company has not generated any revenue and has sustained recurring losses and negative cash flows from operations since inception. The Company expects to incur losses as it continues development of its products and technologies and will need to raise additional capital through partnerships or the sale of its securities to accomplish its business plan. Failing to secure such additional funding before achieving sustainable revenue and profit from operations poses a significant risk. The Company's ability to fund the development of its cellular therapies depends on the amount and timing of cash receipts from future financing activities. There can be no assurance as to the availability or terms upon which such financing and capital might be available. Going Concern The Company has not generated any revenue since inception and has sustained recurring losses and negative cash flows from operations since inception. On 30, 2022, the Company had $ 100,738 1,710,706 38,639,242 The Company evaluated whether there are any conditions and events, considered in the aggregate, that raise substantial doubt about its ability to continue as a going concern within one year beyond the filing of this Quarterly Report on Form 10-Q. Based on such evaluation and the Company’s current plans, which are subject to change, management believes that the Company’s existing cash as of September 30, 2022 is insufficient to satisfy its operating cash needs for the year after the filing of this Quarterly Report on Form 10-Q. The Company is responsible to bear the costs to defend itself and its directors and officers, pursuant to the indemnification clause in the Company’s bylaws, against various Lawsuits (as each of those terms are defined in “Note 8. Commitments and Contingencies—Legal Proceedings” below) currently consisting of a civil action filed by the SEC and two class actions and four derivative actions. See “Note 8. Commitments and Contingencies—Legal Proceedings.” The legal costs to defend the Company against the Lawsuits have been material. During the three and nine months ended September 30, 2022, the Company recognized $ 1,413,185 3,469,527 1,524,674 D&O Policy Kalen Capital Mr. Rayat 800,000 750,000 The Company has experienced and continues to experience negative cash flows from operations, as well as an ongoing requirement for substantial additional capital investment. The future of the Company will depend on its ability to successfully raise capital from external sources. As noted above, management believes that the Company’s existing cash as of September 30, 2022, are insufficient to satisfy its operating cash needs for the year after the filing of this Quarterly Report on Form 10-Q. If the Company is unable to maintain sufficient financial resources, its business, financial condition, and results of operations will be materially and adversely affected. This could affect future development and business activities and potential future product development and/or other future ventures. There can be no assurance that the Company will be able to obtain the needed financing on acceptable terms or at all. Additionally, equity or convertible debt financings will likely have a dilutive effect on the holdings of the Company’s existing stockholders. Debt financing may involve agreements that include covenants limiting or restricting the Company’s ability to take specific actions, such as incurring additional debt, making capital expenditures or declaring dividends, and may be secured by all or a portion of the Company’s assets. Accounting Pronouncements The Company evaluates all Accounting Standards Updates (ASUs) issued by the Financial Accounting Standards Board (FASB) for consideration of their applicability. ASUs not included in the Company’s disclosures were assessed and determined to be either not applicable or are not expected to have a material impact on its Consolidated Financial Statements. New Accounting Pronouncements Not Yet Adopted None. Accounting Pronouncements Recently Adopted In August 2020, the FASB issued ASU 2020-06, “Debt-Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging-Contracts in Entity’s Own Equity (Subtopic 815-40),” to address the complexity in accounting for certain financial instruments with characteristics of liabilities and equity. Amongst other provisions, the amendments in this ASU significantly changed the guidance on the issuer’s accounting for convertible instruments and the guidance on the derivative scope exception for contracts in an entity’s own equity such that fewer conversion features will require separate recognition, and fewer freestanding instruments, like warrants, will require liability treatment. For smaller reporting companies, ASU 2020-06 is effective for fiscal years beginning after December 15, 2023, including interim periods within those fiscal years. Early adoption is permitted, but no earlier than fiscal years beginning after December 15, 2020. The Company adopted the new standard on January 1, 2022, with no impact to its financial statements. Earnings (Loss) Per Share The Company presents both basic and diluted earnings per share (" EPS Following is the computation of basic and diluted net loss per share for the three and nine months ended September 30, 2022, and 2021: Schedule of computation of basic and diluted net loss per share Three Months Ended Nine Months Ended September 30, September 30, 2022 2021 2022 2021 Basic and Diluted EPS Computation Numerator: Loss available to common stockholders' $ (400,439 ) $ (1,698,285 ) $ (4,399,338 ) $ (3,127,488 ) Denominator: Weighted average number of common shares outstanding 87,352,364 87,352,364 87,352,364 87,352,364 Basic and diluted EPS $ (0.00 ) $ (0.02 ) $ (0.05 ) $ (0.04 ) The shares listed below were not included in the computation of diluted losses per share because to do so would have been antidilutive for the periods presented: Stock options 3,074,999 3,139,999 3,074,999 3,139,999 Warrants 11,245,000 11,712,496 11,245,000 11,712,496 Total shares not included in the computation of diluted losses per share 14,319,999 14,852,495 14,319,999 14,852,495

Assets _ Intellectual Property

Assets – Intellectual Property	9 Months Ended
	Sep. 30, 2022
Assets Intellectual Property
Assets – Intellectual Property	Note 2. Assets – Intellectual Property On July 12, 2013, the Company, together with its wholly owned subsidiary, RenovaCare Sciences, Inc., entered into an Asset Purchase Agreement, pursuant to which RenovaCare Sciences purchased all the rights, title and interest in the CellMist TM System. Acquisition related costs amounted to $ 52,852 100,002 152,854 During the nine months ended September 30, 2022, the Company recorded an impairment of the full carrying value of the intangible asset of $ 152,854

Prepaid Expenses

Prepaid Expenses	9 Months Ended
	Sep. 30, 2022
Prepaid Expenses
Prepaid Expenses	Note 3. Prepaid Expenses Prepaid expenses and other current assets consist of the following: Schedule of prepaid expenses and other current assets September 30, December 31, 2022 2021 Prepaid stock options for services - 87,001 Prepaid professional fees 847,500 100,930 Prepaid research and development expense 104,636 289,746 Other prepaid costs 2,500 13,964 Refunds due - 41,804 Total prepaid expenses $ 954,636 $ 533,445

Related Party Convertible Promi

Related Party Convertible Promissory Note	9 Months Ended
	Sep. 30, 2022
Related Party Convertible Promissory Note
Related Party Convertible Promissory Note	Note 4. Related Party Convertible Promissory Note On March 18, 2022, the Company issued an Unsecured Convertible Promissory Note (the “ Unsecured Note 800,000 1 0.45 During the three and nine months ended September 30, 2022, the Company recognized $ 2,053 4,367

Current Liabilities

Current Liabilities	9 Months Ended
	Sep. 30, 2022
Payables and Accruals [Abstract]
Current Liabilities	Note 5. Current Liabilities Current liabilities consist of the following: Schedule of current liabilities September 30, 2022 December 31, 2021 Legal fees and related $ 286,259 $ 869,950 Officer compensation - 55,040 Consultants 13,250 117,943 Trade payables 538,731 231,815 Related party payables 872,466 - Total $ 1,710,706 $ 1,274,748

Equity

Equity	9 Months Ended
	Sep. 30, 2022
Equity [Abstract]
Equity	Note 6. Equity Common Stock At September 30, 2022, the Company had 500,000,000 0.00001 87,352,364 Warrants The Company has issued warrants to purchase common stock at various exercise prices in connection with loan agreements and private placements. The following table summarizes information about warrants outstanding at September 30, 2022 and December 31, 2021: Schedule of warrants outstanding Shares of Common Stock Issuable from Warrants Outstanding as of Weighted September 30, December 31, Average Description 2022 2021 Exercise Price Expiration Series F - 7,246 $ 3.45 February 23, 2022 Series G - 460,250 $ 2.68 July 21, 2022 Series H 910,000 910,000 $ 2.75 October 16, 2022 Series I 10,335,000 10,335,000 $ 2.00 November 26, 2025 Total 11,245,000 11,712,496 No warrants were exercised during the three and nine months ended September 30, 2022. Stock Options The following table summarizes stock option activity for the nine months ended September 30, 2022: Schedule of stock option activity Number of Options Weighted Average Exercise Price ($) Weighted Average Remaining Contractual Term Aggregate Intrinsic Value ($) Outstanding at December 31, 2021 3,139,999 2.17 Granted - - Forfeited (115,000 ) 2.23 Outstanding at September 30, 2022 3,024,999 2.17 3.84 - Vested and exercisable at September 30, 2022 2,674,999 2.03 3.79 - The following table sets forth the share-based compensation cost resulting from stock option grants, including those previously granted and vesting over time, that were recorded in the Company’s Statements of Operations for the three and nine months ended September 30, 2022 and 2021: Schedule of consolidated statement of operations Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Research and development $ 289,997 $ 224,000 $ 724,997 $ 731,438 General and administrative - 44,000 5,500 (1,138,601 ) Total $ 289,997 $ 268,000 $ 730,497 $ (407,163 )

Leases

Leases	9 Months Ended
	Sep. 30, 2022
Leases
Leases	Note 7. Leases In February 2020, the Company entered into a two-year lease for office premises located at 4 Becker Farm Road, Suite 105, Roseland, New Jersey (the “ Premises 4,356 4,459 2 In July 2022, Premises lease expired and was not renewed. The Company sold all office funiture for proceeds of $ 5,000 42,223 17,597 19,626 As of September 30, 2022, the Company has not entered into any leases which have not yet commenced which would entitle the Company to significant rights or create additional obligations. The Company does not have any finance leases. Supplemental lease information: Schedule of supplemental lease information As of September 30, As of December 31, 2022 2021 Operating lease right-of-use asset $ - $ 28,630 Current maturities of operating lease $ - $ 30,497 Current maturities of operating lease in accounts payable - - Total operating lease liabilities $ - $ 30,497

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 8. Commitments and Contingencies Stem Cell Systems (SCS) In connection with the Company’s anticipated future regulatory filings, the Company has engaged StemCell Systems GmbH (“ StemCell Systems Strategic Agreement 39,000 ROFR Agreement On April 28, 2022, the Company provided StemCell Systems with notice of termination of the Strategic Agreement. Pursuant to the terms of the Strategic Agreement, upon cancelation, the Company recognized a termination fee equal to 12 months of the base monthly fee and totaling $ 372,000 Pursuant to the Strategic Agreement, the Company incurred expenses of $ 0 142,000 545,000 391,000 30, 2022 and 2021, respectively. As of 30, 2022, included in the Company’s accounts payable balance is approximately $ 503,000 Legal Proceedings SEC Civil Complaint On May 28, 2021, the SEC filed a civil complaint (the “ SEC Action Defendants Class Action Complaints On July 16, 2021, Gabrielle A. Boller filed a class action lawsuit in the U.S. District Court for the District of New Jersey (the “ Boller Lawsuit Boller Defendants The Company disputes the plaintiffs’ claims in the Boller Lawsuit and intends to defend these matters vigorously. To that end, the Company has engaged counsel to defend the Boller Defendants. Given the uncertainty of litigation, the preliminary stage of these cases, the legal standards that must be met for, among other things, class certification and success on the merits, the Company cannot estimate the reasonably possible loss or range of loss that may result from these actions. On July 21, 2021, Michael Solakian, filed a class action lawsuit in the U.S. District Court for the District of New Jersey (the “ Solakian Lawsuit Solakian Defendants The Company disputes the plaintiffs’ claims in the Solakian Lawsuit and intends to defend these matters vigorously. To that end, the Company has engaged counsel to defend the Solakian Defendants. Given the uncertainty of litigation, the preliminary stage of these cases, the legal standards that must be met for, among other things, class certification and success on the merits, the Company cannot estimate the reasonably possible loss or range of loss that may result from these actions. Shareholder Derivative Complaints On December 20, 2021, Melvin Emberland (“Emberland”), derivatively and on behalf of nominal defendant RenovaCare, Inc. filed a lawsuit (the “ Emberland Lawsuit Emberland Defendants The Company disputes Emberland’s claims and intends to defend these matters vigorously. To that end, the Company has engaged counsel to defend the Emberland Defendants. Given the uncertainty of litigation, the preliminary stage of the Emberland Lawsuit, the legal standards that must be met for success on the merits, the Company cannot estimate the reasonably possible loss or range of loss that may result from these actions. On January 6, 2022, Zoser Vargas (“ Vargas Vargas Lawsuit Vargas Defendants The Company disputes Vargas’ claims and intends to defend these matters vigorously. To that end, the Company has engaged counsel to defend the Vargas Defendants. Given the uncertainty of litigation, the preliminary stage of these cases, the legal standards that must be met for success on the merits, the Company cannot estimate the reasonably possible loss or range of loss that may result from these actions. On January 28, 2022, Aviva Meyer (“ Meyer Meyer Lawsuit Meyer Defendants The Company disputes Meyer’s claims and intends to defend these matters vigorously. To that end, the Company has engaged counsel to defend the Meyer Defendants Given the uncertainty of litigation, the preliminary stage of these cases, the legal standards that must be met for success on the merits, the Company cannot estimate the reasonably possible loss or range of loss that may result from these actions. On March 28, 2022, Peter Rigsby (“ Rigsby Rigsby Lawsuit Rigsby Defendants On May 19, 2022, Helen Medrano (“ Medrano Medrano Lawsuit Medrano Defendants The Company believes that the claims asserted in the SEC Action, the Boller Lawsuit, the Solakian Lawsuit, the Emberland Lawsuit, the Vargas Lawsuit, the Meyer Lawsuit, the Rigsby Lawsuit, and the Medrano Lawsuit (collectively, the “ Lawsuits

Related Party Transactions

Related Party Transactions	9 Months Ended
	Sep. 30, 2022
Related Party Transactions [Abstract]
Related Party Transactions	Note 9. Related Party Transactions During the three and nine months ended September 30, 2022, Kalen Capital made payments related to the Lawsuits totaling $ 835,779 872,466 872,466 825,000 47,466

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2022
Subsequent Events [Abstract]
Subsequent Events	Note 10. Subsequent Events Management has reviewed material events subsequent of the period ended September 30, 2022 and prior to the filing of financial statements in accordance with FASB ASC 855 “Subsequent Events.”

Basis of Presentation, Organi_2

Basis of Presentation, Organization, Going Concern, Recent Accounting Standards and Earnings (Loss) Per Share (Policies)	9 Months Ended
	Sep. 30, 2022
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited interim consolidated financial statements of RenovaCare, Inc. and Subsidiary (“RenovaCare” or the “ Company SEC U.S. GAAP The accompanying unaudited interim Consolidated Financial Statements have been prepared in accordance with U.S. GAAP, which requires management to make estimates and assumptions that affect amounts reported in the Consolidated Financial Statements and accompanying disclosures. Actual results may differ from those estimates. The accompanying unaudited interim consolidated financial statements have been prepared on the same basis as the audited financial statements and include all adjustments (including normal recurring adjustments) that are, in the opinion of management, necessary for a fair presentation of the Company’s consolidated financial position as of September 30, 2022, results of operations and stockholders’ equity for the three and nine months ended September 30, 2022 and 2021, and cash flows for the nine months ended September 30, 2022 and 2021. The Company did not record an income tax provision during the periods presented due to net taxable losses. The results of operations for any interim period are not necessarily indicative of the results of operations for the entire year.
Organization	Organization RenovaCare, Inc., formerly Janus Resources, is a Nevada July 14, 1983 The Company has an authorized capital of 500,000,000 0.00001 87,352,364 10,000,000 0.0001 none RenovaCare, Inc., through its wholly owned subsidiary, RenovaCare Sciences Corp. is a development-stage company focusing on the research, development and commercialization of autologous (using a patient’s own cells) cellular therapies that can be used for medical and aesthetic applications. On July 12, 2013, the Company completed the acquisition of its flagship technologies (collectively, the “ CellMist TM The CellMist™ System is a cell isolation procedure that enzymatically renders stem cells from the patient’s own skin or other tissues. The resulting stem cell suspension is administered topically from SkinGun TM as a cell therapy onto wounds including burns to facilitate healing. Currently, the Company’s proprietary technologies are the subject of forty-four (44) U.S. and foreign granted or pending patents or patent applications and seventeen (17) U.S. and foreign trademarks. Of the issued patents, five (5) are U.S. patents and seventeen (17) have issued or are allowed in Australia, Canada, China, Europe, Germany, France, Italy, Japan, Korea, Netherlands, Spain, Switzerland/Liechtenstein, and the United Kingdom. The Company does not have any commercialized products. The Company's activities have consisted principally of performing research and development activities and raising capital to support such activities. The Company has not generated any revenue and has sustained recurring losses and negative cash flows from operations since inception. The Company expects to incur losses as it continues development of its products and technologies and will need to raise additional capital through partnerships or the sale of its securities to accomplish its business plan. Failing to secure such additional funding before achieving sustainable revenue and profit from operations poses a significant risk. The Company's ability to fund the development of its cellular therapies depends on the amount and timing of cash receipts from future financing activities. There can be no assurance as to the availability or terms upon which such financing and capital might be available.
Going Concern	Going Concern The Company has not generated any revenue since inception and has sustained recurring losses and negative cash flows from operations since inception. On 30, 2022, the Company had $ 100,738 1,710,706 38,639,242 The Company evaluated whether there are any conditions and events, considered in the aggregate, that raise substantial doubt about its ability to continue as a going concern within one year beyond the filing of this Quarterly Report on Form 10-Q. Based on such evaluation and the Company’s current plans, which are subject to change, management believes that the Company’s existing cash as of September 30, 2022 is insufficient to satisfy its operating cash needs for the year after the filing of this Quarterly Report on Form 10-Q. The Company is responsible to bear the costs to defend itself and its directors and officers, pursuant to the indemnification clause in the Company’s bylaws, against various Lawsuits (as each of those terms are defined in “Note 8. Commitments and Contingencies—Legal Proceedings” below) currently consisting of a civil action filed by the SEC and two class actions and four derivative actions. See “Note 8. Commitments and Contingencies—Legal Proceedings.” The legal costs to defend the Company against the Lawsuits have been material. During the three and nine months ended September 30, 2022, the Company recognized $ 1,413,185 3,469,527 1,524,674 D&O Policy Kalen Capital Mr. Rayat 800,000 750,000 The Company has experienced and continues to experience negative cash flows from operations, as well as an ongoing requirement for substantial additional capital investment. The future of the Company will depend on its ability to successfully raise capital from external sources. As noted above, management believes that the Company’s existing cash as of September 30, 2022, are insufficient to satisfy its operating cash needs for the year after the filing of this Quarterly Report on Form 10-Q. If the Company is unable to maintain sufficient financial resources, its business, financial condition, and results of operations will be materially and adversely affected. This could affect future development and business activities and potential future product development and/or other future ventures. There can be no assurance that the Company will be able to obtain the needed financing on acceptable terms or at all. Additionally, equity or convertible debt financings will likely have a dilutive effect on the holdings of the Company’s existing stockholders. Debt financing may involve agreements that include covenants limiting or restricting the Company’s ability to take specific actions, such as incurring additional debt, making capital expenditures or declaring dividends, and may be secured by all or a portion of the Company’s assets.
Accounting Pronouncements	Accounting Pronouncements The Company evaluates all Accounting Standards Updates (ASUs) issued by the Financial Accounting Standards Board (FASB) for consideration of their applicability. ASUs not included in the Company’s disclosures were assessed and determined to be either not applicable or are not expected to have a material impact on its Consolidated Financial Statements. New Accounting Pronouncements Not Yet Adopted None. Accounting Pronouncements Recently Adopted In August 2020, the FASB issued ASU 2020-06, “Debt-Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging-Contracts in Entity’s Own Equity (Subtopic 815-40),” to address the complexity in accounting for certain financial instruments with characteristics of liabilities and equity. Amongst other provisions, the amendments in this ASU significantly changed the guidance on the issuer’s accounting for convertible instruments and the guidance on the derivative scope exception for contracts in an entity’s own equity such that fewer conversion features will require separate recognition, and fewer freestanding instruments, like warrants, will require liability treatment. For smaller reporting companies, ASU 2020-06 is effective for fiscal years beginning after December 15, 2023, including interim periods within those fiscal years. Early adoption is permitted, but no earlier than fiscal years beginning after December 15, 2020. The Company adopted the new standard on January 1, 2022, with no impact to its financial statements.
Earnings (Loss) Per Share	Earnings (Loss) Per Share The Company presents both basic and diluted earnings per share (" EPS Following is the computation of basic and diluted net loss per share for the three and nine months ended September 30, 2022, and 2021: Schedule of computation of basic and diluted net loss per share Three Months Ended Nine Months Ended September 30, September 30, 2022 2021 2022 2021 Basic and Diluted EPS Computation Numerator: Loss available to common stockholders' $ (400,439 ) $ (1,698,285 ) $ (4,399,338 ) $ (3,127,488 ) Denominator: Weighted average number of common shares outstanding 87,352,364 87,352,364 87,352,364 87,352,364 Basic and diluted EPS $ (0.00 ) $ (0.02 ) $ (0.05 ) $ (0.04 ) The shares listed below were not included in the computation of diluted losses per share because to do so would have been antidilutive for the periods presented: Stock options 3,074,999 3,139,999 3,074,999 3,139,999 Warrants 11,245,000 11,712,496 11,245,000 11,712,496 Total shares not included in the computation of diluted losses per share 14,319,999 14,852,495 14,319,999 14,852,495

Basis of Presentation, Organi_3

Basis of Presentation, Organization, Going Concern, Recent Accounting Standards and Earnings (Loss) Per Share (Tables)	9 Months Ended
	Sep. 30, 2022
Accounting Policies [Abstract]
Schedule of computation of basic and diluted net loss per share	Schedule of computation of basic and diluted net loss per share Three Months Ended Nine Months Ended September 30, September 30, 2022 2021 2022 2021 Basic and Diluted EPS Computation Numerator: Loss available to common stockholders' $ (400,439 ) $ (1,698,285 ) $ (4,399,338 ) $ (3,127,488 ) Denominator: Weighted average number of common shares outstanding 87,352,364 87,352,364 87,352,364 87,352,364 Basic and diluted EPS $ (0.00 ) $ (0.02 ) $ (0.05 ) $ (0.04 ) The shares listed below were not included in the computation of diluted losses per share because to do so would have been antidilutive for the periods presented: Stock options 3,074,999 3,139,999 3,074,999 3,139,999 Warrants 11,245,000 11,712,496 11,245,000 11,712,496 Total shares not included in the computation of diluted losses per share 14,319,999 14,852,495 14,319,999 14,852,495

Prepaid Expenses (Tables)

Prepaid Expenses (Tables)	9 Months Ended
	Sep. 30, 2022
Prepaid Expenses
Schedule of prepaid expenses and other current assets	Schedule of prepaid expenses and other current assets September 30, December 31, 2022 2021 Prepaid stock options for services - 87,001 Prepaid professional fees 847,500 100,930 Prepaid research and development expense 104,636 289,746 Other prepaid costs 2,500 13,964 Refunds due - 41,804 Total prepaid expenses $ 954,636 $ 533,445

Current Liabilities (Tables)

Current Liabilities (Tables)	9 Months Ended
	Sep. 30, 2022
Payables and Accruals [Abstract]
Schedule of current liabilities	Schedule of current liabilities September 30, 2022 December 31, 2021 Legal fees and related $ 286,259 $ 869,950 Officer compensation - 55,040 Consultants 13,250 117,943 Trade payables 538,731 231,815 Related party payables 872,466 - Total $ 1,710,706 $ 1,274,748

Equity (Tables)

Equity (Tables)	9 Months Ended
	Sep. 30, 2022
Equity [Abstract]
Schedule of warrants outstanding	Schedule of warrants outstanding Shares of Common Stock Issuable from Warrants Outstanding as of Weighted September 30, December 31, Average Description 2022 2021 Exercise Price Expiration Series F - 7,246 $ 3.45 February 23, 2022 Series G - 460,250 $ 2.68 July 21, 2022 Series H 910,000 910,000 $ 2.75 October 16, 2022 Series I 10,335,000 10,335,000 $ 2.00 November 26, 2025 Total 11,245,000 11,712,496
Schedule of stock option activity	Schedule of stock option activity Number of Options Weighted Average Exercise Price ($) Weighted Average Remaining Contractual Term Aggregate Intrinsic Value ($) Outstanding at December 31, 2021 3,139,999 2.17 Granted - - Forfeited (115,000 ) 2.23 Outstanding at September 30, 2022 3,024,999 2.17 3.84 - Vested and exercisable at September 30, 2022 2,674,999 2.03 3.79 -
Schedule of consolidated statement of operations	Schedule of consolidated statement of operations Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Research and development $ 289,997 $ 224,000 $ 724,997 $ 731,438 General and administrative - 44,000 5,500 (1,138,601 ) Total $ 289,997 $ 268,000 $ 730,497 $ (407,163 )

Leases (Tables)

Leases (Tables)	9 Months Ended
	Sep. 30, 2022
Leases
Schedule of supplemental lease information	Schedule of supplemental lease information As of September 30, As of December 31, 2022 2021 Operating lease right-of-use asset $ - $ 28,630 Current maturities of operating lease $ - $ 30,497 Current maturities of operating lease in accounts payable - - Total operating lease liabilities $ - $ 30,497

Basis of Presentation, Organi_4

Basis of Presentation, Organization, Going Concern, Recent Accounting Standards and Earnings (Loss) Per Share (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Numerator:
Loss available to common stockholders'	$ (400,439)	$ (1,698,285)	$ (4,399,338)	$ (3,127,488)
Denominator:
Weighted average number of common shares outstanding	87,352,364	87,352,364	87,352,364	87,352,364
Basic and diluted EPS	$ 0	$ (0.02)	$ (0.05)	$ (0.04)
The shares listed below were not included in the computation of diluted losses per share because to do so would have been antidilutive for the periods presented:
Total shares not included in the computation of diluted losses per share	14,319,999	14,852,495	14,319,999	14,852,495
Equity Option [Member]
The shares listed below were not included in the computation of diluted losses per share because to do so would have been antidilutive for the periods presented:
Total shares not included in the computation of diluted losses per share	3,074,999	3,139,999	3,074,999	3,139,999
Warrant [Member]
The shares listed below were not included in the computation of diluted losses per share because to do so would have been antidilutive for the periods presented:
Total shares not included in the computation of diluted losses per share	11,245,000	11,712,496	11,245,000	11,712,496

Basis of Presentation, Organi_5

Basis of Presentation, Organization, Going Concern, Recent Accounting Standards and Earnings (Loss) Per Share (Details Narrative) - USD ($)		3 Months Ended	9 Months Ended
	Aug. 03, 2022	Sep. 30, 2022	Sep. 30, 2022	Mar. 18, 2022	Dec. 31, 2021
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Entity Incorporation, State or Country Code			NV
Date of Incorporation			Jul. 14, 1983
Common stock, shares authorized		500,000,000	500,000,000		500,000,000
Common stock, par value		$ 0.00001	$ 0.00001		$ 0.00001
Common stock, shares outstanding		87,352,364	87,352,364		87,352,364
Preferred stock, shares authorized		10,000,000	10,000,000		10,000,000
Preferred stock, par value		$ 0.0001	$ 0.0001		$ 0.0001
Preferred stock, shares outstanding		0	0		0
Cash on hand		$ 100,738	$ 100,738
Current liability		1,710,706	1,710,706		$ 1,305,245
Accumulated deficit		38,639,242	38,639,242		$ 34,239,904
Reimbursements received		1,524,674	1,524,674
Legal counsel	$ 750,000		825,000
Kalen Capital [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Loan				$ 800,000
Attorneys [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Payments to retainer		$ 1,413,185	$ 3,469,527

Assets _ Intellectual Property

Assets – Intellectual Property (Details Narrative) - USD ($)	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021	Jul. 13, 2013
Assets Intellectual Property
Acquisition related costs					$ 52,852
Intangible assets					$ 152,854	$ 100,002
Impairment of intangible assets			$ 152,854

Prepaid Expenses (Details)

Prepaid Expenses (Details) - USD ($)	Sep. 30, 2022	Dec. 31, 2021
Prepaid Expenses
Prepaid stock options for services		$ 87,001
Prepaid professional fees	847,500	100,930
Prepaid research and development expense	104,636	289,746
Other prepaid costs	2,500	13,964
Refunds due		41,804
Total prepaid expenses	$ 954,636	$ 533,445

Related Party Convertible Pro_2

Related Party Convertible Promissory Note (Details Narrative) - USD ($)	1 Months Ended	3 Months Ended	9 Months Ended
	Mar. 18, 2022	Sep. 30, 2022	Sep. 30, 2022
Defined Benefit Plan Disclosure [Line Items]
Interest expense		$ 2,053	$ 4,367
Kalen Capital Corp [Member]
Defined Benefit Plan Disclosure [Line Items]
Loan	$ 800,000
Interest rate	1%
Conversion price	$ 0.45

Current Liabilities (Details)

Current Liabilities (Details) - USD ($)	Sep. 30, 2022	Dec. 31, 2021
Payables and Accruals [Abstract]
Legal fees and related	$ 286,259	$ 869,950
Officer compensation		55,040
Consultants	13,250	117,943
Trade payables	538,731	231,815
Related party payables	872,466
Total	$ 1,710,706	$ 1,274,748

Equity (Details)

Equity (Details) - $ / shares	9 Months Ended
	Sep. 30, 2022	Dec. 31, 2021
Series F [Member]
Class of Warrant or Right [Line Items]
Shares of Common Stock Issuable from Warrants Outstanding		7,246
Weighted Average Exercise Price	$ 3.45
Expiration	Feb. 23, 2022
Series G [Member]
Class of Warrant or Right [Line Items]
Shares of Common Stock Issuable from Warrants Outstanding		460,250
Weighted Average Exercise Price	$ 2.68
Expiration	Jul. 21, 2022
Series H [Member]
Class of Warrant or Right [Line Items]
Shares of Common Stock Issuable from Warrants Outstanding	910,000	910,000
Weighted Average Exercise Price	$ 2.75
Expiration	Oct. 16, 2022
Series I [Member]
Class of Warrant or Right [Line Items]
Shares of Common Stock Issuable from Warrants Outstanding	10,335,000	10,335,000
Weighted Average Exercise Price	$ 2
Expiration	Nov. 26, 2025
Warrant [Member]
Class of Warrant or Right [Line Items]
Shares of Common Stock Issuable from Warrants Outstanding	11,245,000	11,712,496

Equity (Details 1)

Equity (Details 1) - $ / shares	9 Months Ended
	Sep. 30, 2022	Dec. 31, 2021
Equity [Abstract]
Options oustanding - ending balance	3,024,999	3,139,999
Options outstanding - ending balance	$ 2.17	$ 2.17
Options granted
Options granted
Options forfeited	(115,000)
Options forfeited	$ 2.23
Weighted average remaining contracted term	3 years 10 months 2 days
Options Vested and Exercisable	2,674,999
Options Vested and Exercisable	$ 2.03
Options Vested and Exercisable	3 years 9 months 14 days

Equity (Details 2)

Equity (Details 2) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Total	$ 289,997	$ 268,000	$ 730,497	$ (407,163)
Share-Based Payment Arrangement, Option [Member] | Research and Development Expense [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Total	289,997	224,000	724,997	731,438
Share-Based Payment Arrangement, Option [Member] | General and Administrative Expense [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Total		$ 44,000	$ 5,500	$ (1,138,601)

Equity (Details Narrative)

Equity (Details Narrative) - $ / shares	Sep. 30, 2022	Dec. 31, 2021
Equity [Abstract]
Common stock, Authorized	500,000,000	500,000,000
Common stock, par value	$ 0.00001	$ 0.00001
Common stock, shares outstanding	87,352,364	87,352,364

Leases (Details)

Leases (Details) - USD ($)	Sep. 30, 2022	Dec. 31, 2021
Leases
Operating lease right-of-use asset		$ 28,630
Current maturities of operating lease		30,497
Current maturities of operating lease in accounts payable
Total operating lease liabilities		$ 30,497

Leases (Details Narrative)

Leases (Details Narrative) - USD ($)	1 Months Ended	3 Months Ended		9 Months Ended
	Jul. 31, 2022	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Leases
Base rent for First year				$ 4,356
Base rent for Second year				$ 4,459
Lease term		2 years		2 years
Proceeds from disposed assets	$ 5,000			$ 5,000
Gross carrying value	42,223
Accumulated depreciation	17,597	$ 0		0		$ 12,952
Loss on dosposal of assets	$ 19,626	$ (19,626)		$ (19,626)

Commitments and Contingencies (

Commitments and Contingencies (Details Narrative) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Apr. 28, 2022
Defined Benefit Plan Disclosure [Line Items]
Termination fees					$ 372,000
StemCell Systems [Member]
Defined Benefit Plan Disclosure [Line Items]
Periodic Payment			$ 39,000
Incurred expenses	$ 0	$ 142,000	545,000	$ 391,000
Due to related party	$ 503,000		$ 503,000

Related Party Transactions (Det

Related Party Transactions (Details Narrative) - USD ($)		3 Months Ended	9 Months Ended
	Aug. 03, 2022	Sep. 30, 2022	Sep. 30, 2022
Related Party Transaction [Line Items]
Travel and lodging costs			$ 47,466
Legal counsel	$ 750,000		825,000
Kalen Capital [Member]
Related Party Transaction [Line Items]
Travel and lodging costs		$ 835,779	$ 872,466