RenovaCare (RCAR) 10-Q 14 May 18 2018 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2018	May 08, 2018
Document And Entity Information
Entity Registrant Name	Renovacare, Inc.
Entity Central Index Key	1,016,708
Document Type	10-Q
Document Period End Date	Mar. 31, 2018
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Is Entity a Well-known Seasoned Issuer?	No
Is Entity a Voluntary Filer?	No
Is Entity's Reporting Status Current?	Yes
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		76,840,522
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2,018

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($)	Mar. 31, 2018	Dec. 31, 2017
Current assets
Cash and cash equivalents	$ 2,384,859	$ 2,906,237
Prepaid expenses	1,101	750
Total current assets	2,385,960	2,906,987
Equipment, net of accumulated depreciation of $449 and $370, respectively	502	581
Intangible Assets	152,854	152,854
Total assets	2,539,316	3,060,422
Current liabilities
Accounts payable	21,162	107,336
Accounts payable - related parties	64,147	61,333
Contract payable		100,000
Total current liabilities	85,309	268,669
Interest payable to related parties	111,144	90,678
Convertible promissory notes payable to related party, net of discount of $0 and $58,438, respectively	1,095,000	1,036,562
Total liabilities	1,291,453	1,395,909
Commitments and contingencies
Stockholders' equity
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, 76,840,522 and 76,145,418 shares issued and outstanding at March 31, 2018 and December 31, 2017, respectively	769	762
Additional paid-in capital	16,637,163	16,404,673
Retained deficit	(15,390,069)	(14,740,922)
Total stockholders' equity (deficit)	1,247,863	1,664,513
Total liabilities and stockholders' equity (deficit)	$ 2,539,316	$ 3,060,422

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($)	Mar. 31, 2018	Dec. 31, 2017
Consolidated Balance Sheets Parenthetical
Accumulated depreciation	$ 449	$ 370
Noncurrent liabilities
Net of discount on related party	$ 0	$ 58,438
STOCKHOLDERS' EQUITY
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	76,840,522	76,145,418
Common stock, shares outstanding	76,840,522	76,145,418

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Consolidated Statements Of Operations
Revenue
Operating expense
Research and development	125,111	79,080
General and administrative	449,558	303,023
Total operating expenses	574,669	382,103
Loss from operations	(574,669)	(382,103)
Other income (expense)
Interest income	4,425	258
Interest expense	(20,465)	(15,350)
Accretion of debt discount	(58,438)	(174,629)
Total other income (expense)	(74,478)	(189,721)
Net loss	$ (649,147)	$ (571,824)
Basic and Diluted Loss per Common Share	$ (0.01)	$ (0.01)
Weighted average number of common shares outstanding - basic and diluted	76,498,552	71,708,814

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($)	Common Stock	Additional Paid-In Capital	Retained Deficit	Total
Beginning Balance, Shares at Dec. 31, 2016	70,069,693
Beginning Balance, Amount at Dec. 31, 2016	$ 702	$ 11,290,209	$ (11,051,584)	$ 239,327
Issuance of common stock from the exercise of warrants, Shares	4,592,895
Issuance of common stock from the exercise of warrants, Amount	$ 46	344,578		344,624
Issuance of common stock from the exercise of stock options, Shares	102,580
Issuance of common stock from the exercise of stock options, Amount	$ 1	(1)
October 2017 Private Placement units issued, Shares	920,000
October 2017 Private Placement units issued, Amount	$ 9	2,299,991		2,300,000
July 2017 Private Placement units issued, Shares	460,250
July 2017 Private Placement units issued, Amount	$ 4	1,122,606		1,122,610
Stock based compensation due to common stock purchase options		904,004		904,004
Discount on convertible promissory note due to detachable warrants and beneficial conversion feature		443,286		443,286
Net loss			(3,689,338)	(3,689,338)
Ending Balance, Shares at Dec. 31, 2017	76,145,418
Ending Balance, Amount at Dec. 31, 2017	$ 762	16,404,673	(14,740,922)	1,664,513
Issuance of common stock from the exercise of warrants, Shares	569,797
Issuance of common stock from the exercise of warrants, Amount	$ 6	109,994		$ 110,000
Issuance of common stock from the exercise of stock options, Shares	125,307			125,307
Issuance of common stock from the exercise of stock options, Amount	$ 1	(1)
Stock based compensation due to common stock purchase options		122,497		$ 122,497
Net loss			(649,147)	(649,147)
Ending Balance, Shares at Mar. 31, 2018	76,840,522
Ending Balance, Amount at Mar. 31, 2018	$ 769	$ 16,637,163	$ (15,390,069)	$ 1,247,863

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Cash flows from operating activities
Net loss	$ (649,147)	$ (571,824)
Adjustments to reconcile net loss to net cash used in operating activities
Depreciation	79	79
Stock based compensation expense	122,497	2,994
Accretion of debt discount	58,438	174,629
Changes in operating assets and liabilities:
Decrease (increase) in prepaid expenses	(351)	30,295
Increase (decrease) in accounts payable	(86,174)	20,248
Increase (decrease) in accounts payable - related parties	2,814	43,308
Increase (decrease) in interest payable to related party	20,466	15,244
Increase (decrease) in interest payable		105
Increase (decrease) in contract payable	(100,000)	(50,000)
Net cash flows from operating activities	(631,378)	(334,922)
Cash flows from financing activities
Proceeds from exercise of warrants and issuance of common stock	110,000	445,000
Net cash flows from financing activities	110,000	445,000
Increase (decrease) in cash and cash equivalents	(521,378)	110,078
Cash and cash equivalents at beginning of period	2,906,237	418,031
Cash and cash equivalents at end of period	2,384,859	528,109
Supplemental disclosure of cash flow information:
Interest paid in cash
Income taxes paid in cash
Supplemental disclosure of non-cash transactions:
Discount on convertible promissory note due to detachable warrants and beneficial conversion feature		$ 443,286

Basis of Presentation, Organiza

Basis of Presentation, Organization, Nature and Continuance of Operations, Earnings (Loss) Per Share	3 Months Ended
	Mar. 31, 2018
Notes to Financial Statements
Note 1. Basis of Presentation, Organization, Nature and Continuance of Operations, Applicable Accounting Guidance and Earnings (Loss) Per Share	Basis of Presentation The unaudited financial statements of RenovaCare, Inc. (the “Company”) as of March 31, 2018, and for the three months ended March 31, 2018 and 2017, have been prepared in accordance with generally accepted accounting principles (“GAAP”) in the United States for interim financial reporting and include the Company’s wholly-owned subsidiary, RenovaCare Sciences. Accordingly, they do not include all of the disclosures required by accounting principles generally accepted in the United States for complete financial statements and should be read in conjunction with the audited consolidated financial statements and notes thereto for the year ended December 31, 2017, as filed with the Securities and Exchange Commission as part of the Company’s Form 10-K. In the opinion of management, all adjustments (consisting only of normal recurring adjustments) considered necessary for a fair presentation of the interim financial information have been included. 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., together with its wholly owned subsidiary, focuses on the acquisition, research, development and, if warranted, 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, through its wholly owned subsidiary, RenovaCare Sciences Corp., completed the acquisition of its flagship technologies (collectively, the “ CellMist TM The CellMist TM CellMist TM SkinGun TM TM TM Nature and Continuance of Operations The Company does not have any commercialized products. The Company's activities have consisted principally of performing research and development activities and raising capital. These development activities are subject to significant risks and uncertainties, including possible failure of preclinical testing. The Company has not generated any revenue since inception 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 expects that it will need to raise additional capital through the sale of its securities to accomplish its business plan and 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 will depend 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. As of December 31, 2017, the Company had approximately $2,906,000 of cash on hand and current liabilities of $269,000. On February 13, 2018, the Company received $110,000 upon the exercise of 100,000 Series D Warrants. As of March 31, 2018, the Company had approximately $2,385,000 of cash on hand. The Company believes that it currently has sufficient cash to meet its funding requirements over the next year. Therefore, the conditions which initially indicated substantial doubt about the Company’s ability to continue as a going concern have been alleviated. The accompanying consolidated financial statements have been prepared in conformity with generally accepted accounting principles in the United States of America, which contemplates continuation of the Company as a going concern, which is dependent upon the Company’s ability to establish itself as a profitable business. Applicable Accounting Guidance Any reference in these notes to applicable accounting guidance is meant to refer to the authoritative non-governmental US GAAP as found in the Financial Accounting Standards Board's Accounting Standards Codification. In July 2017, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2017-11, Earnings Per Share (Topic 260), Distinguishing Liabilities from Equity (Topic 480), Derivatives and Hedging (Topic 815). In May 2017, the FASB issued ASU 2017-09, Compensation-Stock Compensation (Topic 718), Scope of Modification Accounting. The amendments in this Update provide guidance about which changes to the terms or conditions of a share-based payment award require an entity to apply modification accounting in Topic 718. The amendments in this Update are effective for all entities for annual periods, and interim periods within those annual periods, beginning after December 15, 2017. Early adoption is permitted, including adoption in any interim period, for public business entities for reporting periods for which financial statements have not yet been issued. The Company adopted the guidance under ASU 2017-09 with no material impact on its consolidated financial statements. In February 2016, the FASB issued ASU No. 2016-02, “Leases (Topic 842)”, which supersedes ASC Topic 840, Leases, and creates a new topic, ASC Topic 842, Leases. ASU 2016-02 requires lessees to recognize a lease liability and a lease asset for all leases, including operating leases, with a term greater than 12 months on its balance sheet. ASU 2016-02 also expands the required quantitative and qualitative disclosures surrounding leases. ASU 2016-02 is effective for the Company beginning January 1, 2019. Early adoption is permitted. The Company has determined that the adoption of ASU 2016-02 will currently have no impact on its consolidated financial statements. In May 2014, the FASB issued ASU No. 2014-09, “Revenue from Contracts with Customers (Topic 606)”, to clarify the principles used to recognize revenue for all entities. In March 2016, the FASB issued ASU 2016-08 to further clarify the implementation guidance on principal versus agent considerations. The guidance is effective for annual and interim periods beginning after December 15, 2017, and early adoption is permitted. The Company has determined that the adoption of ASU 2014-09 did not have an impact on the consolidated financial statements. The Company reviews new accounting standards as issued. Although some of these accounting standards issued or effective after the end of the Company’s previous fiscal year may be applicable, the Company has not identified any standards that the Company believes merit further discussion other than as discussed above. The Company believes that none of the new standards will have a significant impact on the financial statements. Earnings (Loss) Per Share The Company presents both basic and diluted earnings per share ("EPS") amounts. Basic EPS is calculated by dividing net income (loss) by the weighted average number of common shares outstanding during the period presented. Diluted EPS amounts are based upon the weighted average number of common and common equivalent shares outstanding during the period presented. The Company has not included the effects of warrants, stock options and convertible debt on net loss per share because to do so would be antidilutive. Following is the computation of basic and diluted net loss per share for the three months ended March 31, 2018 and 2017: Three Months Ended March 31, 2018 2017 Basic and Diluted EPS Computation Numerator: Loss available to common stockholders' $ (649,147 ) $ (571,824 ) Denominator: Weighted average number of common shares outstanding 76,498,552 71,708,814 Basic and diluted EPS $ (0.01 ) $ (0.01 ) 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 357,500 235,000 Warrants 3,011,912 2,343,401 Convertible debt 629,954 643,074 Total shares not included in the computation of diluted losses per share 3,999,366 3,221,475

Assets - Intellectual Property

Assets - Intellectual Property	3 Months Ended
	Mar. 31, 2018
Notes to Financial Statements
Note 2. Assets – Intellectual Property	On July 12, 2013, the Company, together with its wholly owned subsidiary, RenovaCare Sciences, entered into an asset purchase agreement (“APA”) with Dr. Jörg Gerlach, MD, PhD, pursuant to which RenovaCare Sciences purchased all of Dr. Gerlach’s rights, title and interest in the CellMist TM

Contract Payable

Contract Payable	3 Months Ended
	Mar. 31, 2018
Notes to Financial Statements
Note 3. Contract Payable	On June 9, 2014, the Company, together with its wholly owned subsidiary, RenovaCare Sciences, entered into an amended asset purchase agreement (the “Amended APA”) with Dr. Jörg Gerlach, MD, PhD, pursuant to which RenovaCare Sciences purchased all of Dr. Gerlach's rights, title and interest in the CellMist™ System. The Amended APA provided for cash payments of $300,000 as partial consideration for the purchase with the final payment due of $100,000 paid on January 24, 2018. See also “Note 8. Related Party Transactions.”

Debt

Debt	3 Months Ended
	Mar. 31, 2018
Notes to Financial Statements
Note 4. Debt	As of March 31, 2018 and December 31, 2017, the Company had the following outstanding debt balances: Issue Maturity Debt Interest Date Date Principal Discount Balance Payable As of March 31, 2018: February 2017 Note as amended 2/23/2017 12/31/2019 $ 395,000 $ - $ 395,000 $ 31,308 September 2016 Note as amended 9/9/2016 12/31/2019 700,000 - 700,000 79,836 As of December 31, 2017: February 2017 Note as amended 2/23/2017 12/31/2019 $ 395,000 $ (58,438 ) $ 336,562 $ 24,074 September 2016 Note as amended 9/9/2016 12/31/2019 700,000 - 700,000 66,604 $ 1,095,000 $ (58,438 ) $ 1,036,562 $ 90,678 February 2017 Convertible Promissory Notes Between February 23, 2017 and March 9, 2017, the Company entered into three separate loan agreements containing identical terms (the “ February 2017 Loan Agreements Sierchio Investor KCC Holders February 2017 Notes Per the February 2017 Loan Agreement, the Company issued Sierchio, the Investor and KCC a Series F Stock Purchase Warrant (the “ Series F Warrant The Company calculated the fair value of the Series F Warrants and intrinsic value of the beneficial conversion feature which resulted in a $443,286 discount to the February 2017 Notes which was fully accreted on March 31, 2018. The February 2017 Loan Agreements provide the Holders with registration rights for all of the shares issuable upon conversion of the February 2017 Notes, including exercise of the Series F Warrants, beginning on the first anniversary of the February 2017 Loan Agreements. During 2017, the Company repaid the Investor and Sierchio in full, including total note principal of $50,000 and total accrued interest of $1,825. On January 29, 2018, KCC and the Company entered into an Amendment No. 1 to the February 2017 Note whereby the maturity date of the KCC February Note was extended from February 23, 2018 to December 31, 2019. Except for the extension of the maturity date, the February Note was not otherwise amended and continues in full force and effect. During the three months ended March 31, 2018, the Company recognized $7,233 of interest expense and $58,438 of accretion related to the debt discount. During the three months ended March 31, 2017, the Company recognized $2,727 of interest expense and $38,959 of accretion related to the debt discount September 9, 2016 Convertible Promissory Note On September 9, 2016, the Company entered into a loan agreement (the “ Loan Agreement Note Per the Loan Agreement, the Company issued KCC a Series E Stock Purchase Warrant (the “ Series E Warrant The Loan Agreement provides KCC with registration rights for all of the shares issuable upon conversion of the Note and exercise of the Series E Warrant, beginning on the first anniversary of the Loan Agreement. The Company calculated the fair value of the Series E Warrant and intrinsic value of the beneficial conversion feature which resulted in a $700,000 discount to the Note which was fully accreted on December 31, 2017. During the three months ended March 31, 2018 and 2017, the Company recognized $13,232 and $12,345, respectively, of interest expense and $0 and $131,799, respectively, of accretion related to the debt discount.

Common Stock and Warrants

Common Stock and Warrants	3 Months Ended
	Mar. 31, 2018
Notes to Financial Statements
Note 5. Common Stock and Warrants	Common Stock At March 31, 2018, the Company had 500,000,000 authorized shares of common stock with a par value of $0.00001 per share, 76,840,522 shares of common stock outstanding and 19,400,765 shares reserved for issuance under the Company’s 2013 Long-Term Incentive Plan (the “2013 Plan”) as adopted and approved by the Company’s Board of Directors (the “Board”) on June 20, 2013 that provides for the grant of stock options to employees, directors, officers and consultants. See “Note 6. Stock Options” for further discussion. During the three months ended March 31, 2018, the Company had the following common stock related transactions: · On February 3, 2018, Thomas Bold, the Company’s President, CEO and Interim Chief Financial Officer exercised options to purchase up to 60,000 shares, on a cashless basis, resulting in the issuance of 44,083 shares of common stock. · On February 11, 2018, a consultant exercised options to purchase up to 40,000 shares, on a cashless basis, resulting in the issuance of 17,480 shares of common stock. · On February 12, 2018, Dr. Gerlach exercised a Series A Warrant to purchase up to 480,000 shares, on a cashless basis, resulting in the issuance of 457,480 shares of common stock. · On February 13, 2018, the Company issued 100,000 shares of common stock, upon the exercise of a Series D Warrant at an exercise price of $1.10 per share resulting in $110,000 of proceeds to the Company. · On February 22, 2018, Kenneth Kirkland, a member of the Company’s board of directors, exercised options to purchase up to 50,000 shares, on a cashless basis, resulting in the issuance of 41,033 shares of common stock. · On February 22, 2018, Joseph Sierchio, a member of the Company’s board of directors 1) exercised options to purchase up to 37,500 shares, on a cashless basis, resulting in the issuance of 22,711 shares of common stock; 2) exercised a Series F Warrant to purchase up to 7,246 shares, on a cashless basis, resulting in the issuance of 4,899 shares of common stock; and 3) exercised a Series H Warrant to purchase up to 10,000 shares, on a cashless basis, resulting in the issuance of 7,418 shares of common stock. Warrants The following table summarizes information about warrants outstanding at March 31, 2018 and December 31, 2017: Shares of Common Stock Issuable from Warrants Outstanding as of Weighted March 31, December 31, Average Exercise Description 2018 2017 Price Expiration Series A 240,000 720,000 $ 0.35 July 12, 2019 Series D 810,000 910,000 $ 1.10 June 5, 2020 Series E 584,416 584,416 $ 1.54 September 8, 2021 Series F 7,246 14,492 $ 3.45 February 23, 2022 & March 9, 2022 Series G 460,250 460,250 $ 2.68 July 21, 2022 Series H 910,000 920,000 $ 2.75 October 16, 2022 Total 3,011,912 3,609,158

Stock Options

Stock Options	3 Months Ended
	Mar. 31, 2018
Notes to Financial Statements
Note 6. Stock Options	On June 20, 2013, the Company’s Board adopted the 2013 Long-Term Incentive Plan and on November 15, 2013, a stockholder owning a majority of the Company’s issued and outstanding stock approved adoption to the 2013 Plan. Pursuant to the terms of the 2013 Plan, an aggregate of 20,000,000 shares of the Company’s common stock are reserved for issuance to the Company’s officers, directors, employees and consultants in order to attract and hire key technical personnel and management. Options granted to employees under the 2013 Plan, including directors and officers who are employees, may be incentive stock options or non-qualified stock options; options granted to others under the 2013 Plan are limited to non-qualified stock options. As of March 31, 2018, there were 19,400,765 shares available for grant. The 2013 Plan is administered by the Board or a committee designated by the Board. Subject to the provisions of the 2013 Plan, the Board has the authority to determine the officers, employees and consultants to whom options will be granted, the number of shares covered by each option, vesting rights and the terms and conditions of each option that is granted to them; however, no person may be granted in any of the Company's fiscal year, options to purchase more than 2,000,000 shares under the 2013 Plan, and the aggregate fair market value (determined at the time the option is granted) of the shares with respect to which incentive stock options are exercisable for the first time by an optionee during any calendar year cannot exceed $100,000. Options granted pursuant to the 2013 Plan are exercisable no later than ten years after the date of grant. The exercise price per share of common stock for options granted under the 2013 Plan will be the fair market value of the Company's common stock on the date of grant, using the closing price of the Company's common stock on the last trading day prior to the date of grant, except for incentive stock options granted to a holder of ten percent or more of the Company's common stock, for whom the exercise price per share will not be less than 110% of the fair market value. No option can be granted under the 2013 Plan after June 20, 2023. Stock Option Activity The following table summarizes stock option activity for the three month period ended March 31, 2018 and year ended December 31, 2017: Number of Options Weighted Average Exercise Price ($) Weighted Average Remaining Contractual Term Aggregate Intrinsic Value ($) Outstanding at December 31, 2016 385,000 1.42 Grants 310,000 4.20 Exercises (150,000 ) 1.12 Outstanding at December 31, 2017 545,000 3.09 Exercises (187,500 ) 2.86 Outstanding at March 31, 2018 357,500 3.21 8.33 years 716,350 Exercisable at March 31, 2018 202,500 2.76 8.03 years 496,800 The fair value of each stock option is estimated at the date of grant using the Black-Scholes option pricing model. There were no stock options granted during the three months ended March 31, 2018 or 2017, respectively. During the three months ended March 31, 2018, there were 187,500 options exercised on a cashless basis resulting in the issuance of 125,307 shares of common stock, with an aggregate intrinsic value of $1,126,675. During the three months ended March 31, 2017, there were 150,000 options exercised on a cashless basis resulting in the issuance of 102,582 shares of common stock, with an aggregate intrinsic value of $397,100. The share-based compensation cost resulting from stock option grants, including those previously granted and vesting over time is expensed ratably over the respective vesting periods. During the three months ended March 31, 2018 and 2017, the Company recognized $122,497 and $2,994, respectively, in share-based compensation related to stock options. As of March 31, 2018, the Company had approximately $50,000 of unrecognized compensation cost related to unvested stock options which is expected to be recognized over a period of 1.0 years. Stock-based compensation has been included in the Consolidated Statement of Operations as follows: Three Months Ended March 31, 2018 2017 Research and development $ 20,875 $ - General and administrative 101,622 2,994 Total $ 122,497 $ 2,994 The following table summarizes information about stock options outstanding and exercisable at March 31, 2018: Stock Options Outstanding Stock Options Exercisable Range of Exercise Prices Number of Shares Subject to Outstanding Options Weighted Average Contractual Life (years) Weighted Average Exercise Price Number of Shares Subject To Options Exercise Weighted Average Remaining Contractual Life (Years) Weighted Average Exercise Price 0.80 10,000 6.38 0.80 10,000 6.38 0.80 1.05 55,000 6.01 1.05 35,000 6.01 1.05 1.25 7,500 7.21 1.25 7,500 7.21 1.25 1.34 7,500 7.25 1.34 7,500 7.25 1.34 1.65 10,000 7.59 1.65 10,000 7.59 1.65 1.70 7,500 7.55 1.70 7,500 7.55 1.70 1.91 20,000 7.96 1.91 20,000 7.96 1.91 2.28 7,500 8.31 2.28 7,500 8.31 2.28 4.20 232,500 9.12 4.20 97,500 9.12 4.20 Total 357,500 8.33 $3.21 202,500 8.03 $2.76

Commitments

Commitments	3 Months Ended
	Mar. 31, 2018
Notes to Financial Statements
Note 7. Commitments	Effective March 1, 2015, the Company entered into a lease agreement (the “Lease”) in the Pittsburgh Life Sciences Greenhouse at a monthly rate of $750. The Lease was renewed effective March 1, 2016 at a monthly rate of $800 through August 30, 2018. Rent expense for the three months ended March 31, 2018 and 2017 was $2,400 and $2,400, respectively. On August 1, 2013, the Company and Vector Asset Management, Inc. (“Vector”) entered into a Consulting Agreement whereby Vector will assist the Company with identifying subject matter experts in the medical device and biotechnology industries and to assist the Company with its ongoing research, development and eventual commercialization of its Regeneration Technology (collectively, the “Services”). On May 1, 2016, Vector and the Company entered into an amendment to the consulting agreement. Pursuant to the amendment, the term of the agreement terminates only upon written notice, and the monthly consulting fee, in consideration of the Services, was increased to $6,800 from $5,000. No other changes were made to the agreement. In connection with the Company’s anticipated regulatory filings, the Company has engaged StemCell Systems GmbH (“StemCell Systems”) to provide it with prototypes and related documents under various agreements. Pursuant to these engagements the Company incurred expenses of $12,015 and $54,000 during the three months ended March 31, 2018 and 2017, respectively. Dr. Gerlach, from whom the Company purchased the CellMist TM On August 1, 2017, the Company and the University of Pittsburgh entered into a Corporate Research Agreement whereby the University of Pittsburgh will perform academic research related to the Company’s technologies in exchange for $171,595. During the three months ended March 31, 2018, the Company paid the University of Pittsburgh $85,798. See also “Note 8. Related Party Transactions.”

Related Party Transactions

Related Party Transactions	3 Months Ended
	Mar. 31, 2018
Notes to Financial Statements
Note 8. Related Party Transactions	As compensation for their service on the Board, Dr. Kirkland and Mr. Sierchio receive an annual retainer of $6,000, payable in equal quarterly installments in arrears. The law firm of Satterlee Stephens LLP (“Satterlee”), of which Joseph Sierchio, one of the Company’s directors, is a partner, provides counsel to the Company. Mr. Sierchio is the Company’s primary attorney. During the three months ended March 31, 2018 and 2017, the Company recognized $62,887 and $103,151 of fees for legal services billed by firms associated with Mr. Sierchio. At March 31, 2018 and December 31, 2017, the Company’s balance sheet contained a payable to Satterlee in the amount of $57,127 and $30,000, respectively. Mr. Sierchio continues to serve as a director of the Company. In connection with the Company’s anticipated FDA and other regulatory filings, the Company engaged StemCell Systems to provide it with prototypes and related documents. Pursuant to this engagement the Company incurred expenses of $12,015 and $54,000 during the three months ended March 31, 2018 and 2017, respectively. Dr. Gerlach, from whom the Company purchased the CellMist TM Dr. Gerlach is entitled to payments for consulting services. During the three months ended March 31, 2018 and 2017, the Company recognized expenses related to Dr. Gerlach services of $4,660 and $10,080, respectively. Accounts payable to Dr. Gerlach amounted to $7,020 and $17,640 at March 31, 2018 and December 31, 2017, respectively. On August 1, 2013, the Company entered into a consulting agreement, as amended on May 1, 2016, with Jatinder Bhogal to provide consulting services to the Company through his wholly owned company, Vector Asset Management, Inc., Mr. Bhogal is an individual owning in excess of 5% of our issued and outstanding shares of common stock. Pursuant to the Consulting Agreement, as amended, Mr. Bhogal received compensation of $20,400 and $20,400 during the three months ended March 31, 2018 and 2017, respectively, in connection with the consulting agreement. On February 12, 2018, Dr. Gerlach exercised a Series A Warrant to purchase up to 480,000 shares, on a cashless basis, resulting in the issuance of 457,480 shares of common stock. On February 22, 2018, Kenneth Kirkland, a member of the Company’s board of directors, exercised options to purchase up to 50,000 shares, on a cashless basis, resulting in the issuance of 41,033 shares of common stock. On February 22, 2018, Joseph Sierchio, a member of the Company’s board of directors 1) exercised options to purchase up to 37,500 shares, on a cashless basis, resulting in the issuance of 22,711 shares of common stock; 2) exercised a Series F Warrant to purchase up to 7,246 shares, on a cashless basis, resulting in the issuance of 4,899 shares of common stock; and 3) exercised a Series H Warrant to purchase up to 10,000 shares, on a cashless basis, resulting in the issuance of 7,418 shares of common stock. On February 3, 2018, Thomas Bold, the Company’s President, CEO and Interim Chief Financial Officer exercised options to purchase up to 60,000 shares, on a cashless basis, resulting in the issuance of 44,086 shares of common stock. On August 1, 2017, the Company and the University of Pittsburgh entered into a Corporate Research Agreement whereby the University of Pittsburgh will perform academic research related to the Company’s technologies in exchange for $171,595. During the three months ended March 31, 2018, the Company paid the University of Pittsburgh $85,798 pursuant to the Corporate Research Agreement. Dr. Gerlach, from whom the Company purchased the CellMist TM

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2018
Notes to Financial Statements
Note 9. Subsequent Events	Management has reviewed material events subsequent of the period ended March 31, 2018 and prior to the filing of financial statements in accordance with FASB ASC 855 “Subsequent Events”.

Basis of Presentation, Organi16

Basis of Presentation, Organization, Nature and Continuance of Operations, Earnings (Loss) Per Share (Policies)	3 Months Ended
	Mar. 31, 2018
Basis Of Presentation Organization Nature And Continuance Of Operations Earnings Loss Per Share Policies
Basis of Presentation	The unaudited financial statements of RenovaCare, Inc. (the “Company”) as of March 31, 2018, and for the three months ended March 31, 2018 and 2017, have been prepared in accordance with generally accepted accounting principles (“GAAP”) in the United States for interim financial reporting and include the Company’s wholly-owned subsidiary, RenovaCare Sciences. Accordingly, they do not include all of the disclosures required by accounting principles generally accepted in the United States for complete financial statements and should be read in conjunction with the audited consolidated financial statements and notes thereto for the year ended December 31, 2017, as filed with the Securities and Exchange Commission as part of the Company’s Form 10-K. In the opinion of management, all adjustments (consisting only of normal recurring adjustments) considered necessary for a fair presentation of the interim financial information have been included. 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., together with its wholly owned subsidiary, focuses on the acquisition, research, development and, if warranted, 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, through its wholly owned subsidiary, RenovaCare Sciences Corp., completed the acquisition of its flagship technologies (collectively, the “ CellMist TM The CellMist TM CellMist TM SkinGun TM TM TM
Nature and Continuance of Operations	The Company does not have any commercialized products. The Company's activities have consisted principally of performing research and development activities and raising capital. These development activities are subject to significant risks and uncertainties, including possible failure of preclinical testing. The Company has not generated any revenue since inception 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 expects that it will need to raise additional capital through the sale of its securities to accomplish its business plan and 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 will depend 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. As of December 31, 2017, the Company had approximately $2,906,000 of cash on hand and current liabilities of $269,000. On February 13, 2018, the Company received $110,000 upon the exercise of 100,000 Series D Warrants. As of March 31, 2018, the Company had approximately $2,385,000 of cash on hand. The Company believes that it currently has sufficient cash to meet its funding requirements over the next year. Therefore, the conditions which initially indicated substantial doubt about the Company’s ability to continue as a going concern have been alleviated. The accompanying consolidated financial statements have been prepared in conformity with generally accepted accounting principles in the United States of America, which contemplates continuation of the Company as a going concern, which is dependent upon the Company’s ability to establish itself as a profitable business.
Applicable Accounting Guidance	Any reference in these notes to applicable accounting guidance is meant to refer to the authoritative non-governmental US GAAP as found in the Financial Accounting Standards Board's Accounting Standards Codification. In July 2017, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2017-11, Earnings Per Share (Topic 260), Distinguishing Liabilities from Equity (Topic 480), Derivatives and Hedging (Topic 815). In May 2017, the FASB issued ASU 2017-09, Compensation-Stock Compensation (Topic 718), Scope of Modification Accounting. The amendments in this Update provide guidance about which changes to the terms or conditions of a share-based payment award require an entity to apply modification accounting in Topic 718. The amendments in this Update are effective for all entities for annual periods, and interim periods within those annual periods, beginning after December 15, 2017. Early adoption is permitted, including adoption in any interim period, for public business entities for reporting periods for which financial statements have not yet been issued. The Company adopted the guidance under ASU 2017-09 with no material impact on its consolidated financial statements. In February 2016, the FASB issued ASU No. 2016-02, “Leases (Topic 842)”, which supersedes ASC Topic 840, Leases, and creates a new topic, ASC Topic 842, Leases. ASU 2016-02 requires lessees to recognize a lease liability and a lease asset for all leases, including operating leases, with a term greater than 12 months on its balance sheet. ASU 2016-02 also expands the required quantitative and qualitative disclosures surrounding leases. ASU 2016-02 is effective for the Company beginning January 1, 2019. Early adoption is permitted. The Company has determined that the adoption of ASU 2016-02 will currently have no impact on its consolidated financial statements. In May 2014, the FASB issued ASU No. 2014-09, “Revenue from Contracts with Customers (Topic 606)”, to clarify the principles used to recognize revenue for all entities. In March 2016, the FASB issued ASU 2016-08 to further clarify the implementation guidance on principal versus agent considerations. The guidance is effective for annual and interim periods beginning after December 15, 2017, and early adoption is permitted. The Company has determined that the adoption of ASU 2014-09 did not have an impact on the consolidated financial statements. The Company reviews new accounting standards as issued. Although some of these accounting standards issued or effective after the end of the Company’s previous fiscal year may be applicable, the Company has not identified any standards that the Company believes merit further discussion other than as discussed above. The Company believes that none of the new standards will have a significant impact on the financial statements.
Earnings (Loss) Per Share	The Company presents both basic and diluted earnings per share ("EPS") amounts. Basic EPS is calculated by dividing net income (loss) by the weighted average number of common shares outstanding during the period presented. Diluted EPS amounts are based upon the weighted average number of common and common equivalent shares outstanding during the period presented. The Company has not included the effects of warrants, stock options and convertible debt on net loss per share because to do so would be antidilutive. Following is the computation of basic and diluted net loss per share for the three months ended March 31, 2018 and 2017: Three Months Ended March 31, 2018 2017 Basic and Diluted EPS Computation Numerator: Loss available to common stockholders' $ (649,147 ) $ (571,824 ) Denominator: Weighted average number of common shares outstanding 76,498,552 71,708,814 Basic and diluted EPS $ (0.01 ) $ (0.01 ) 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 357,500 235,000 Warrants 3,011,912 2,343,401 Convertible debt 629,954 643,074 Total shares not included in the computation of diluted losses per share 3,999,366 3,221,475

Basis of Presentation, Organi17

Basis of Presentation, Organization, Nature and Continuance of Operations, Earnings (Loss) Per Share (Tables)	3 Months Ended
	Mar. 31, 2018
Basis Of Presentation Organization Nature And Continuance Of Operations Earnings Loss Per Share Tables
Summary of computation of basic and diluted net loss per share	Three Months Ended March 31, 2018 2017 Basic and Diluted EPS Computation Numerator: Loss available to common stockholders' $ (649,147 ) $ (571,824 ) Denominator: Weighted average number of common shares outstanding 76,498,552 71,708,814 Basic and diluted EPS $ (0.01 ) $ (0.01 ) 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 357,500 235,000 Warrants 3,011,912 2,343,401 Convertible debt 629,954 643,074 Total shares not included in the computation of diluted losses per share 3,999,366 3,221,475

Debt (Tables)

Debt (Tables)	3 Months Ended
	Mar. 31, 2018
Debt Tables
Schedule of Debt	Issue Maturity Debt Interest Date Date Principal Discount Balance Payable As of March 31, 2018: February 2017 Note as amended 2/23/2017 12/31/2019 $ 395,000 $ - $ 395,000 $ 31,308 September 2016 Note as amended 9/9/2016 12/31/2019 700,000 - 700,000 79,836 As of December 31, 2017: February 2017 Note as amended 2/23/2017 12/31/2019 $ 395,000 $ (58,438 ) $ 336,562 $ 24,074 September 2016 Note as amended 9/9/2016 12/31/2019 700,000 - 700,000 66,604 $ 1,095,000 $ (58,438 ) $ 1,036,562 $ 90,678

Common Stock and Warrants (Tabl

Common Stock and Warrants (Tables)	3 Months Ended
	Mar. 31, 2018
Common Stock And Warrants Tables
Summary of warrants outstanding	Shares of Common Stock Issuable from Warrants Outstanding as of Weighted March 31, December 31, Average Exercise Description 2018 2017 Price Expiration Series A 240,000 720,000 $ 0.35 July 12, 2019 Series D 810,000 910,000 $ 1.10 June 5, 2020 Series E 584,416 584,416 $ 1.54 September 8, 2021 Series F 7,246 14,492 $ 3.45 February 23, 2022 & March 9, 2022 Series G 460,250 460,250 $ 2.68 July 21, 2022 Series H 910,000 920,000 $ 2.75 October 16, 2022 Total 3,011,912 3,609,158

Stock Options (Tables)

Stock Options (Tables)	3 Months Ended
	Mar. 31, 2018
Stock Options Tables
Summary of stock option activity	Number of Options Weighted Average Exercise Price ($) Weighted Average Remaining Contractual Term Aggregate Intrinsic Value ($) Outstanding at December 31, 2016 385,000 1.42 Grants 310,000 4.20 Exercises (150,000 ) 1.12 Outstanding at December 31, 2017 545,000 3.09 Exercises (187,500 ) 2.86 Outstanding at March 31, 2018 357,500 3.21 8.33 years 716,350 Exercisable at March 31, 2018 202,500 2.76 8.03 years 496,800
Summary of consolidated statement of operations	Three Months Ended March 31, 2018 2017 Research and development $ 20,875 $ - General and administrative 101,622 2,994 Total $ 122,497 $ 2,994
Summary of stock options outstanding and exercisable	Stock Options Outstanding Stock Options Exercisable Range of Exercise Prices Number of Shares Subject to Outstanding Options Weighted Average Contractual Life (years) Weighted Average Exercise Price Number of Shares Subject To Options Exercise Weighted Average Remaining Contractual Life (Years) Weighted Average Exercise Price 0.80 10,000 6.38 0.80 10,000 6.38 0.80 1.05 55,000 6.01 1.05 35,000 6.01 1.05 1.25 7,500 7.21 1.25 7,500 7.21 1.25 1.34 7,500 7.25 1.34 7,500 7.25 1.34 1.65 10,000 7.59 1.65 10,000 7.59 1.65 1.70 7,500 7.55 1.70 7,500 7.55 1.70 1.91 20,000 7.96 1.91 20,000 7.96 1.91 2.28 7,500 8.31 2.28 7,500 8.31 2.28 4.20 232,500 9.12 4.20 97,500 9.12 4.20 Total 357,500 8.33 $3.21 202,500 8.03 $2.76

Basis of Presentation, Organi21

Basis of Presentation, Organization, Nature and Continuance of Operations, Earnings (Loss) Per Share (Details) - USD ($)	3 Months Ended		12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Numerator:
Loss available to common stockholders'	$ (649,147)	$ (571,824)	$ (3,689,338)
Denominator:
Weighted average number of common shares outstanding	76,498,552	71,708,814
Basic and diluted EPS	$ (0.01)	$ (0.01)
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	3,999,366	3,221,475
Stock options [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	357,500	235,000
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	3,011,912	2,343,401
Convertible debt [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	629,954	643,074

Basis of Presentation, Organi22

Basis of Presentation, Organization, Nature and Continuance of Operations, Earnings (Loss) Per Share (Details Narrative) - USD ($)	1 Months Ended
	Feb. 13, 2018	Mar. 31, 2018	Dec. 31, 2017	Mar. 31, 2017	Dec. 31, 2016
Cash and cash equivalents		$ 2,384,859	$ 2,906,237	$ 528,109	$ 418,031
Current liabilities		$ 85,309	$ 268,669
Series D Warrants [Member]
Issuance of common stock	100,000
Proceeds from issuance of common stock	$ 110,000

Assets _ Intellectual Property

Assets – Intellectual Property (Details Narrative) - USD ($)	1 Months Ended
	Jul. 31, 2013	Mar. 31, 2018	Dec. 31, 2017
Intangible Assets		$ 152,854	$ 152,854
Asset purchase agreement [Member] | Dr. Gerlach [Member]
Acquisition related costs	$ 52,852
Closing cash payment	$ 100,002

Contract Payable (Details Narra

Contract Payable (Details Narrative) - USD ($)	Jun. 09, 2014	Jan. 24, 2018
Contract Payable Details Narrative
Amended APA provided for cash payments	$ 300,000
Purchase paid amount		$ 100,000

Debt (Details)

Debt (Details) - USD ($)	3 Months Ended	12 Months Ended
	Mar. 31, 2018	Dec. 31, 2017
Principal		$ 1,095,000
Debt Discount		(58,438)
Balance		1,036,562
Interest Payable		$ 90,678
February 2017 Note as amended [Member]
Issue Date	Feb. 23, 2017	Feb. 23, 2017
Maturity Date	Dec. 31, 2019	Dec. 31, 2019
Principal	$ 395,000	$ 395,000
Debt Discount		(58,438)
Balance	395,000	336,562
Interest Payable	$ 31,308	$ 24,074
September 2016 Note as amended [Member]
Issue Date	Sep. 9, 2016	Sep. 9, 2016
Maturity Date	Dec. 31, 2019	Dec. 31, 2019
Principal	$ 700,000	$ 700,000
Debt Discount
Balance	700,000	700,000
Interest Payable	$ 79,836	$ 66,604

Debt (Details Narrative)

Debt (Details Narrative) - USD ($)	Sep. 09, 2016	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Interest expense		$ 20,465	$ 15,350
Accretion of debt discount		$ (58,438)	(174,629)
Common stock shares reserved under stock option plan		19,400,765
February 2017 Loan Agreements [member] | Series F Warrant [Member]
Interest expense		$ 7,233	2,727
Accretion of debt discount		$ 58,438	38,959
Expected life		5 years
Debt discount		$ 443,286
February 2017 Loan Agreements [member] | Series F Warrant [Member] | Sierchio and Investor [Member]
Repayment of note principal				$ 50,000
Accrued interest				$ 1,825
February 2017 Loan Agreements [member] | Series F Warrant [Member] | Sierchio [Member]
Common stock shares reserved under stock option plan		7,246
February 2017 Loan Agreements [member] | Series F Warrant [Member] | Investor [Member]
Common stock shares reserved under stock option plan		7,246
KCC [Member] | Loan agreement [Member]
Interest expense		$ 13,232	12,345
Accretion of debt discount		$ 0	$ 131,799
Convertible debt financing, Maximum amount	$ 700,000
Interest rate	7.00%
Debt instrument terms conversion feature	The Note became convertible, at KCC’s sole discretion, into shares of our common stock at conversion rate equal to the lesser of: (i) $1.54, the closing price of our common stock on the day prior to the issuance of the Note or (ii) a 20% discount to the average closing price of our common stock for the five days prior to the date on which KCC elects to convert the Note, subject to a floor price of $1.23 per share.
Expected life				5 years
Debt discount				$ 700,000
KCC [Member] | Loan agreement [Member] | Series E Warrant [Member]
Debt instrument terms conversion feature	Common stock at a purchase price of the lesser of: (i) $1.54, the closing price of the Company’s common stock on the day prior to issuance of the Series E Warrant; or (ii) a 20% discount to the average closing price of the Company’s common stock for the five days prior to the date on which KCC elects to exercise the Series E Warrant.
KCC [Member] | February 2017 Loan Agreements [member] | February 23, 2017 and March 9, 2017 [Member]
Interest rate		7.00%
Convertible debt financing, Loan received		$ 395,000
KCC [Member] | February 2017 Loan Agreements [member] | Sierchio and Investor [Member] | February 23, 2017 and March 9, 2017 [Member]
Interest rate		7.00%
Convertible debt financing, Loan received		$ 25,000
Debt instrument terms conversion feature		(i) $3.45, the closing price of the Company’s common stock on the day prior to the issuance of the February 2017 Notes or (ii) a 20% discount to the average closing price of the Company’s common stock for the five days prior to the date on which the Holder(s) elect to convert the February 2017 Note(s), subject to a floor price of $2.76.
KCC [Member] | February 2017 Loan Agreements [member] | Series F Warrant [Member]
Common stock shares reserved under stock option plan		114,493
KCC [Member] | February 2017 Loan Agreements [member] | Series F Warrant [Member] | Sierchio and Investor [Member]
Debt instrument terms conversion feature		(i) $3.45, the closing price of the Company’s common stock on the day prior to issuance of the Series F Warrant; or (ii) a 20% discount to the average closing price of the Company’s common stock for the five days prior to the date on which the Holder elects to exercise their Series F Warrant.

Common Stock and Warrants (Deta

Common Stock and Warrants (Details) - $ / shares	3 Months Ended
	Mar. 31, 2018	Dec. 31, 2017
Series A [Member]
Shares of Common Stock Issuable from Warrants Outstanding	240,000	720,000
Weighted Average Exercise Price	$ 0.35
Expiration	Jul. 12, 2019
Series D [Member]
Shares of Common Stock Issuable from Warrants Outstanding	810,000	910,000
Weighted Average Exercise Price	$ 1.10
Expiration	Jun. 5, 2020
Series E [Member]
Shares of Common Stock Issuable from Warrants Outstanding	584,416	584,416
Weighted Average Exercise Price	$ 1.54
Expiration	Sep. 8, 2021
Series F [Member]
Shares of Common Stock Issuable from Warrants Outstanding	7,246	14,492
Weighted Average Exercise Price	$ 3.45
Series F [Member] | Minimum [Member]
Expiration	Feb. 23, 2022
Series F [Member] | Maximum [Member]
Expiration	Mar. 9, 2022
Series G [Member]
Shares of Common Stock Issuable from Warrants Outstanding	460,250	460,250
Weighted Average Exercise Price	$ 2.68
Expiration	Jul. 21, 2022
Series H [Member]
Shares of Common Stock Issuable from Warrants Outstanding	910,000	920,000
Weighted Average Exercise Price	$ 2.75
Expiration	Oct. 16, 2022
Warrant [Member]
Shares of Common Stock Issuable from Warrants Outstanding	3,011,912	3,609,158
Series B [Member]
Expiration	Nov. 29, 2018
Series C [Member]
Expiration	Nov. 29, 2018

Common Stock and Warrants (De28

Common Stock and Warrants (Details Narrative) - USD ($)	Feb. 12, 2018	Feb. 11, 2018	Feb. 03, 2018	Feb. 22, 2018	Feb. 13, 2018	Mar. 31, 2018	Dec. 31, 2017
Common stock, par value						$ 0.00001	$ 0.00001
Common stock, Authorized						500,000,000	500,000,000
Common stock, shares Issued						76,840,522	76,145,418
Common stock shares reserved under stock option plan						19,400,765
Joseph Sierchio [Member]
Common stock shares reserved under stock option plan				37,500
Debt conversion converted instrument shares issued				22,711
Kenneth Kirkland [Member]
Common stock shares reserved under stock option plan				50,000
Debt conversion converted instrument shares issued				41,033
Thomas Bold [Member]
Common stock shares reserved under stock option plan			60,000
Debt conversion converted instrument shares issued			44,083
Consultant [Member]
Common stock shares reserved under stock option plan		40,000
Debt conversion converted instrument shares issued		17,480
Series H [Member]
Weighted Average Exercise Price						$ 2.75
Series H [Member] | Joseph Sierchio [Member]
Common stock shares reserved under stock option plan				10,000
Debt conversion converted instrument shares issued				7,418
Series F [Member]
Weighted Average Exercise Price						3.45
Series F [Member] | Joseph Sierchio [Member]
Common stock shares reserved under stock option plan				7,246
Debt conversion converted instrument shares issued				4,899
Series A [Member]
Weighted Average Exercise Price						$ 0.35
Series A [Member] | Dr. Gerlach [Member]
Common stock shares reserved under stock option plan	480,000
Debt conversion converted instrument shares issued	457,480
Series D Warrant [Member]
Debt conversion converted instrument shares issued					100,000
Proceeds from issuance of common stock					$ 110,000
Weighted Average Exercise Price					$ 1.10

Stock Options (Details)

Stock Options (Details) - USD ($)	3 Months Ended		12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Number of Options
Options outstanding - beginning balance	545,000	385,000	385,000
Options granted			310,000
Options exercised	(187,500)	(150,000)	(150,000)
Options oustanding - ending balance	357,500		545,000
Options exercisable	202,500
Weighted average exercise price
Options outstanding - beginning balance	$ 3.09	$ 1.42	$ 1.42
Options granted			4.20
Options exercised	2.86		1.12
Options outstanding - ending balance	3.21		$ 3.09
Options exercisable	$ 2.76
Weighted average remaining contracted term
Options outstanding - ending balance	8 years 3 months 28 days
Options exercisable	8 years 10 days
Aggregate intrinsic value
Options outstanding - ending balance	$ 716,350
Options exercisable	$ 496,800

Stock Options (Details 1)

Stock Options (Details 1) - USD ($)	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Stock Options Details 1
Research and development	$ 20,875
General and administrative	101,622	2,994
Total	$ 122,497	$ 2,994

Stock Options (Details 2)

Stock Options (Details 2)	3 Months Ended
	Mar. 31, 2018$ / sharesshares
Number of Shares Subject to Outstanding Options | shares	357,500
Weighted Average Contractual Life (years)	8 years 3 months 28 days
Weighted Average Exercise Price	$ 3.21
Number of Shares Subject To Options Exercise | shares	202,500
Weighted Average Remaining Contractual Life (Years)	8 years 10 days
Weighted Average Exercise Price	$ 2.76
Exercise Price Range One [Member]
Range of Exercise Prices	$ 0.8
Number of Shares Subject to Outstanding Options | shares	10,000
Weighted Average Contractual Life (years)	6 years 4 months 17 days
Weighted Average Exercise Price	$ 0.8
Number of Shares Subject To Options Exercise | shares	10,000
Weighted Average Remaining Contractual Life (Years)	6 years 4 months 17 days
Weighted Average Exercise Price	$ 0.8
Exercise Price Range Two [Member]
Range of Exercise Prices	$ 1.05
Number of Shares Subject to Outstanding Options | shares	55,000
Weighted Average Contractual Life (years)	6 years 4 days
Weighted Average Exercise Price	$ 1.05
Number of Shares Subject To Options Exercise | shares	35,000
Weighted Average Remaining Contractual Life (Years)	6 years 4 days
Weighted Average Exercise Price	$ 1.05
Exercise Price Range Three [Member]
Range of Exercise Prices	$ 1.25
Number of Shares Subject to Outstanding Options | shares	7,500
Weighted Average Contractual Life (years)	7 years 2 months 16 days
Weighted Average Exercise Price	$ 1.25
Number of Shares Subject To Options Exercise | shares	7,500
Weighted Average Remaining Contractual Life (Years)	7 years 2 months 16 days
Weighted Average Exercise Price	$ 1.25
Exercise Price Range Four [Member]
Range of Exercise Prices	$ 1.34
Number of Shares Subject to Outstanding Options | shares	7,500
Weighted Average Contractual Life (years)	7 years 3 months
Weighted Average Exercise Price	$ 1.34
Number of Shares Subject To Options Exercise | shares	7,500
Weighted Average Remaining Contractual Life (Years)	7 years 3 months
Weighted Average Exercise Price	$ 1.34
Exercise Price Range Five [Member]
Range of Exercise Prices	$ 1.65
Number of Shares Subject to Outstanding Options | shares	10,000
Weighted Average Contractual Life (years)	7 years 7 months 2 days
Weighted Average Exercise Price	$ 1.65
Number of Shares Subject To Options Exercise | shares	10,000
Weighted Average Remaining Contractual Life (Years)	7 years 7 months 2 days
Weighted Average Exercise Price	$ 1.65
Exercise Price Range Six [Member]
Range of Exercise Prices	$ 1.70
Number of Shares Subject to Outstanding Options | shares	7,500
Weighted Average Contractual Life (years)	7 years 6 months 18 days
Weighted Average Exercise Price	$ 1.70
Number of Shares Subject To Options Exercise | shares	7,500
Weighted Average Remaining Contractual Life (Years)	7 years 6 months 18 days
Weighted Average Exercise Price	$ 1.70
Exercise Price Range Seven [Member]
Range of Exercise Prices	$ 1.91
Number of Shares Subject to Outstanding Options | shares	20,000
Weighted Average Contractual Life (years)	7 years 11 months 16 days
Weighted Average Exercise Price	$ 1.91
Number of Shares Subject To Options Exercise | shares	20,000
Weighted Average Remaining Contractual Life (Years)	7 years 11 months 16 days
Weighted Average Exercise Price	$ 1.91
Exercise Price Range Eight [Member]
Range of Exercise Prices	$ 2.28
Number of Shares Subject to Outstanding Options | shares	7,500
Weighted Average Contractual Life (years)	8 years 3 months 21 days
Weighted Average Exercise Price	$ 2.28
Number of Shares Subject To Options Exercise | shares	7,500
Weighted Average Remaining Contractual Life (Years)	8 years 3 months 21 days
Weighted Average Exercise Price	$ 2.28
Exercise Price Range Nine [Member]
Range of Exercise Prices	$ 4.20
Number of Shares Subject to Outstanding Options | shares	232,500
Weighted Average Contractual Life (years)	9 years 1 month 13 days
Weighted Average Exercise Price	$ 4.20
Number of Shares Subject To Options Exercise | shares	97,500
Weighted Average Remaining Contractual Life (Years)	9 years 1 month 13 days
Weighted Average Exercise Price	$ 4.20

Stock Options (Details Narrativ

Stock Options (Details Narrative) - USD ($)	3 Months Ended		12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Options granted			310,000
Options excercised	187,500	150,000	150,000
Aggregate intrinsic value	$ 1,126,675	$ 397,100
Stock based compensation expense	$ 122,497	$ 2,994
Issuance of common stock from the exercise of stock options, Shares	125,307	102,582
Unrecognized compensation cost	$ 50,000
Unrecognized compensation cost expected life	1 year
Common stock shares reserved under stock option plan	19,400,765
2013 Plan [Member]
Stock options grant description	No person may be granted in any of the Company's fiscal year, options to purchase more than 2,000,000 shares under the 2013 Plan, and the aggregate fair market value (determined at the time the option is granted) of the shares with respect to which incentive stock options are exercisable for the first time by an optionee during any calendar year cannot exceed $100,000. Options granted pursuant to the 2013 Plan are exercisable no later than ten years after the date of grant.
Excecise price per share limit	Not be less than 110% of the fair market value
Common stock shares reserved under stock option plan	20,000,000

Commitments (Details Narrative)

Commitments (Details Narrative) - USD ($)	Aug. 01, 2017	Mar. 01, 2016	Mar. 01, 2015	Mar. 31, 2018	Mar. 31, 2017	May 01, 2016	Aug. 01, 2013
Research and development expense				$ 125,111	$ 79,080
Pittsburgh Life Sciences Greenhouse [Member]
Monthly rent		$ 800	$ 750
Rent expense				2,400	2,400
StemCell Systems [Member]
Incurred expenses				12,015	$ 54,000
Corporate Research Agreement [Member] | Pittsburgh Life Sciences Greenhouse [Member]
Research and development expense	$ 171,595			$ 85,798
Consulting Agreement [Member]
Consulting fees in consideration of the services						$ 6,800	$ 5,000

Related Party Transactions (Det

Related Party Transactions (Details Narrative) - USD ($)	Feb. 12, 2018	Feb. 03, 2018	Aug. 01, 2017	Feb. 22, 2018	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Common stock shares reserved under stock option plan					19,400,765
Accounts payable					$ 64,147		$ 61,333
Research and development expense					125,111	$ 79,080
Pittsburgh Life Sciences Greenhouse [Member] | Corporate Research Agreement [Member]
Research and development expense			$ 171,595		85,798
Thomas Bold [Member]
Common stock shares reserved under stock option plan		60,000
Debt conversion converted instrument shares issued		44,083
Kenneth Kirkland [Member]
Common stock shares reserved under stock option plan				50,000
Debt conversion converted instrument shares issued				41,033
Kenneth Kirkland [Member] | Equity Option [Member]
Common stock shares reserved under stock option plan				50,000
Debt conversion converted instrument shares issued				41,033
StemCell Systems [Member]
Incurred expenses					12,015	54,000
Satterlee Stephens LLP [Member]
Accounts payable					57,127	30,000
Board of Directors [Member]
Common stock shares reserved under stock option plan				37,500
Debt conversion converted instrument shares issued				22,711
Board of Directors [Member] | Series H [Member]
Common stock shares reserved under stock option plan				10,000
Debt conversion converted instrument shares issued				7,418
Board of Directors [Member] | Series F [Member]
Common stock shares reserved under stock option plan				7,246
Debt conversion converted instrument shares issued				4,899
Chief Financial Officer [Member] | Thomas Bold [Member]
Common stock shares reserved under stock option plan		60,000
Debt conversion converted instrument shares issued		44,086
Dr. Gerlach [Member]
Accounts payable					7,020		$ 17,640
Compensation expense for services					4,660	10,080
Dr. Gerlach [Member] | Series A [Member]
Common stock shares reserved under stock option plan	480,000
Debt conversion converted instrument shares issued	457,480
Mr. Bhogal [Member]
Compensation expense for services					$ 20,400	20,400
Individual owning issue and outstanding share percent					5.00%
Joseph Sierchio [Member]
Annual retainer payable					$ 6,000
Legal fees					62,887	$ 103,151
Kenneth Kirkland [Member]
Annual retainer payable					$ 6,000